NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- …hoped to declare openly some moolah modifications, rather bent on for a full modification of the inscription.

CEMAC similarly crave for a finished closure of the operating account (compte d’opération) at the Banque de France in a bid to enable the body to hold all of its foreign exchange reserves as restrained to the 50% it presently holds, and the solitude of French proxies from the decision-making and regulate bodies of the BEAC (regional Central Bank).

CEMAC is now contemplating enlisting West Africa, which is in the procedure of creating a regional currency dubbed the ECO. Experts nevertheless deem the process delicate but judging by the recent Euro/Dollar crisis, that drastically affected the FCFA, they consider the action vital.

Heads of State have proposed that the outcomes of the numerous deliberations by the BEAC should be conveyed with Ministers of Economy and finance of the member states according to sources. The Central African Republic had earlier adopted Bitcoin as Currency as legal tender.

For New Africa Daily News Abdul Rahman Bangura Reports,  Africa Correspondent

NEW AFRICA DAILY NEWS, Accra, Ghana- The government of Ghana has expressed confidence that a €7.2 million fund earmarked to resolve challenges in some rural communities will improve the lives of the beneficiaries by 2024.

The amount, provided under the supervision of the European Union is aimed at giving financial assistance to a number of Ghanaian farmers in rural communities.

Speaking at a forum on the theme: “Civil society organizations in Sustainable Development Programme,” Deputy Minister for Finance, Charles Adu Boahen, was hopeful the project will lift poor farmers out of poverty.

“This particular program is targeting rural communities in the Northern Savannah and Northern part of Brong Ahafo and Volta Region, as well as the Coastal Savannah. Under this program, four CSOs are being supported with a total amount of €7.2 million.” He stated.

These CSOs are the Cerath Development Organisation, Centre for Local Government Advocacy, Action Aid Ghana and Cooperazione Internazionale Sud Sud.

The target result areas are the development of technologies, economic activities and sector policies coherent to principles of sustainable agriculture and decent work in 20 districts of the Savannah Ecosystem of Ghana.

There’s also access and quality of service delivery related to social protection and employment, as well as decent work opportunities in the field of sustainable agriculture and green economy.

EU Ambassador to Ghana, Diana Acconcia, says Ghana’s agriculture sector has the potential to lift a vast majority of Ghanaians out of poverty.

“Ghana’s agriculture and fisheries sectors offer great opportunities to lift rural communities out of poverty. This can be done in a way that prevents climate change and protects the environment. This project will promote sustainable businesses and improve the quality of life for the communities”.

For New Africa Daily News Richard Adorsu Reports, Africa Correspondent

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NEW AFRICA DAILY  NEWS, Freetown, Sierra Leone- UGANDA, Annual performance report of the House of Parliament, Shs 6.15 trillion has been given as loans in 2019. Inclusively , Shs768 billion ($210 million) loan from the Islamic Development Bank (IDB) for the upgrade of Rwekunye-Apac-Lira-Acholibur Road, $110 million also from IDB for the upgrade of Muyembe- Nakapiripirit Road, Shs18.29 billion ($5 million) from the Export-Import Bank of India and Shs54.89 billion (US Dollars 15 million) from the African Development Bank [AfDB] as guarantee for credit lines to Uganda Development Bank Limited (UDBL).

In concert with the above, $ 379.71 million in promissory notes to FINASI/Roko Construction SPV Limited for the construction of the International Specialized Hospital of Uganda at Lubowa, Wakiso District, $100 million from the domestic market to finance classified expenditure under the Defence and Veteran Affairs Ministry for the financial year 2018/2019, $ 200 million from the International Development Association (IDA) of the World Bank Group to support the Uganda Intergovernmental Fiscal Transfers Program (UgIFT) for results in Education and Health sectors among others.

From the report, eleven loan request proposals were tabled by the Finance, Planning and Economic Development Ministry. The loan requests were first scrutinized by the Parliament National Economy Committee Chaired by Nakaseke North MP, Syda Bbumba before they were tabled in the House for discussion and final approval.

The National Economy Committee Vice Chairperson-Lawrence Bategeka stated that, approved loans requests were significant and purposefully meant to finance the National Budget especially due to inadequate revenue collection.

US$1 = 3,662.85 Ugandan Shilling

For New Africa Daily News Abdul Rahman Suagibu Reports,  Africa Correspondent

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NEW AFRICA DAILY NEWS, Freetown, Sierra Leone- In a not too distant Future, to put into practice an historic free trade agreement, the UN Chief beckons leaders of the Africa continent; to pursue economic growth that benefits both people and the planet.

António Guterres made the appeal in his message for Africa Industrialization Day, observed annually on 20th November, every year.

The UN Secretary-General said, industrial development is “of critical importance” for sustained and inclusive economic growth in African countries.

Since manufacturing on the continent has been rapidly growing as expected than the world average, he said it is of the essence to expedite it.

The African Continental Free Trade Agreement is expected to usher in a market of least $3 trillion and a consumer base of more than one billion. At the same time, the manufacturing sector is projected to double by 2025, creating millions of jobs.

“I call on African countries to adopt a holistic approach to industrial policy, pursuing, through stronger multi-stakeholder partnerships, green and clean industrialization strategies that promote equitable economic opportunities and take into account the urgency of addressing the climate crisis,” said Mr. Guterres.

The UN Chief emphasized international commitment to Africa’s sustainable development, with the UN General Assembly disclosing the period from 2016-2025 the Third Industrial Development Decade for Africa.

Thus, the UN Industrial Development Organization (UNIDO) will increase the size of technical assistance to countries on the continent.

The agency also will partner with other UN entities on initiatives in areas such as technology transfer, agribusiness value chain development, renewable energy and development of special economic zones and industrial parks.

For New Africa Daily News Abdul Rahman Suagibu Reports,  Africa Correspondent

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NEW AFRICA DAILY NEWS, Freetown, Sierra Leone- Monday under the patronage of the Mano River Union, with a clarron called to fast forward solutions to the region’s energy to the regions energy poverty; a conference for multi stakeholders in renewable energy and clean cooking opens in the country’s capital city-Freetown.

The conference which is being attended by representatives of governments (Energy Ministers and Parliamentarians), Civil Society Organizations, Development Partners, and the Private Sectors, President Julius Maada Bio said it was imperative to address the region’s energy poverty.

President Bio said,”It is an imperative for our development that we address energy poverty in Sierra Leone in particular and in the sub-region in general,” President Bio said.

He said as part of efforts in that direction his government is developing meaningful regulations that encourages private sector partnerships. He announced that by 2022, 145 mini grids should be operational serving over 400,000 customers. President Bio insists that his government’s efforts “will contribute significantly to narrowing the disparities in energy access between urban and rural areas.”

“We recognize the challenges and we are aware that we will have to demonstrate consistent and focused leadership, leverage continued support from our sector partners, and also invest in re-organizing the sector and increasing generation sources and supply,” he noted.

MRU’s Secretary General, Amb. Medina A. Wesseh, Esq emphasizes the need to implore all to work hard in providing lasting solutions to energy poverty and clean cooking.

“Our political leaders and the people in the sub-region are looking for results and it is my hope that following our substantive deliberations over these two days, we will deliver on a concrete plan of actions that will meet their expectations,” Amb. Wesseh said.

The conference was convoked under the leadership of Sierra Leone’s Ministry of Energy, the Mano River Union Secretariat and the Energy Nexus Network (TENN). It is the first High-Level Mano River Union Multi-Stakeholder Conference on Renewable Energy and Clean Cooking.

Speakers at the conference, which was under the theme: “Growing the Sub-regional Energy Market” called on participants and their respective governments to work assiduously towards to the achievement of the SDG 7 – access to affordable, reliable, sustainable and modern energy and clean cooking solutions while facilitating sub-regional integrated energy markets, to ensure harmony and shared prosperity across the union and the African continent.

Addressing the global energy context of the conference, TENN”s Founder and Chairmen, Kandeh Yumkella hope that the conference become an annual dialogue concentrating on providing the enabling conditions for the development of integrated markets following the European Union experience; the best energy integrated market in the world.

“In the EU” he said, “some countries are too small and have no energy. So, they buy from those that have. It is the same for Sierra Leone and Liberia; too small to attract big investments.” Yumkella further noted that both he and the minister are from different parties. However, when it comes to what benefits Sierra Leone, we think first about our country.

Mr. Yumkella also unveiled the construction of the offices and training facility of The Energy Nexus Network. “This will serve as a knowledge hub for Africa with partnerships and institutions from the United States, Europe and Asia.” TENN’s mission is coordinating energy access with key energy-enabling SDGs and building the energy ecosystem/enabling conditions and processes for scaling-up sustainable energy solutions. “A future where energy poverty is eliminated, energy access is synchronized with sustainable development and processes that are ready for scaling-up sustainable energy solutions,” he underscored.

Also speaking, ECREEE’s Executive Director, Mahama Kappiah underscored the work his organization is doing within the ECOWAS region and the immense potential for Sierra Leone to benefit emphasizing the need for sensible partnerships that helps to lure major investments.

In 2017, ECOWAS Heads of State adopted the West Africa Solar Corridor Initiative which, when fully implemented, “will allow the region to speed up the attainment of regional renewable targets by developing energy-based power and integrating same into the regional power grid.”

Other notable projects include the 270 million Regional Off-Grid Electrification Project – ROGEP supported by the World Bank and the West Africa Clean Cooking (WACCA). The ROGEP which aims to increase access to sustainable electricity services through standalone systems to at least 10 million people while the WACCA aim to ensure the entire population have access to sustainable and modern cooking fuels and appliances by 2030.

For New Africa Daily News Abdul Rahman Suagibu Reports,  Africa Correspondent

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