The African Development Bank (AfDB) Group has introduced its new foundation hosted by the Government of Rwanda in Kigali and expected to commence operations in early 2023.
In a statement issued by the Communication and External Relations Department, AfDB, the African Pharmaceutical Technology Foundation (APTF), unveiled by the AfDB, would help Africa build its pharmaceutical sector.
The bank would join hands with the African Union to boost Africa’s capacity to produce drugs, vaccines, diagnostics, and therapeutics.
According to the statement, this was the focus of a forum hosted by the bank under the theme “Technology Access for Pharmaceutical Manufacturing: The African Pharmaceutical Technology Foundation”.
The event was part of the second International Conference on Public Health in Africa in Kigali, Rwanda, on Dec. 14.
According to the AfDB, the continent imports more than 70 per cent of the medicines it needs at the cost of 14 billion dollars annually.
Rwandan Minister of State for Health,Dr Yvan Butera, said, “This new initiative comes as a solution, since most [African] countries still face challenges in receiving [medicines] on time.”
In his opening remarks, Vice-President for Private Sector, Infrastructure and Industrialisation, AfDB, Mr Solomon Quaynor said COVID-19 had exposed the gaps in Africa’s health care system.
“The COVID-19 pandemic has exposed the fragility of global health systems and the gaps in the production of critical drugs on the continent.
“The APTF is a ground-breaking institution that will significantly enhance Africa’s access to technologies that underpin the manufacturing of pharmaceutical products.”
Presenting the APTF at the event, Prof. Padmashree Sampath said the foundation was designed to help African countries bridge the technology gaps in sustainable domestic manufacturing.
Sampath is the Special Adviser on Pharmaceuticals and Health Infrastructure to Dr Akinwumi Adesina, President, AfDB Group.
“Pharmaceutical companies in Africa have three specific impediments to technology access: access to technology and related know-how for production, mobilisation of domestic resources for technological upgrading, and the lack of possibilities for horizontal and vertical product diversification.
“Many technological risks need to be indemnified to build Africa’s pharmaceutical sector, including shifting away from a product-by-product approach which puts African companies at risk.”
Also Co-chair of the International Negotiating Body of the World Health Organisation (WHO),Dr Precious Matsoso on Pandemic Prevention, Preparedness and Response, spoke on how important technology issues were for future pandemic preparation.
Matsoso said establishing the African Pharmaceutical Technology Foundation “would provide the much-needed support to address technology barriers for equitable access”.
Furthermore, Chief Executive Officer of the Coalition of Epidemic Preparedness Initiative, Dr Richard Hatchett described the establishment of the foundation as ‘timely.’
Hatchett said the initiative “will help in saving lives on the continent.”
The foundation, approved by the AfDB’s Board of Directors in June 2022, is expected to boost Africa’s access to technology for manufacturing the full range of pharmaceutical products.
It would focus on building supply chains and expanding access to building block technologies of various kinds.
The foundation would also serve as a transparent intermediator, advancing and brokering the interests of the African pharmaceutical sector on the global stage.
This would enhance access to proprietary technologies, know-how, and related industrial processes, through licensing and other market-based and non-market mechanisms.
The WHO, the Coalition on Epidemic Preparedness, the South Centre, Geneva, and the Federal Ministry for Economic Cooperation and Development of Germany have expressed keen interest in working with the foundation in 2023.
AfDB, GGBI partner to strengthen Africa’s green bond market
The African Development Bank (AfDB) Group, has signed a declaration with the coalition of development finance institutions to promote green bond markets in Africa.
AfDB’s Group Vice President and Chief Financial Officer, Ms Hassatou N’Sele, said this in a statement issued on the bank’s website.
The News Agency of Nigeria (NAN) reports that Africa’s engagement in the green bond market currently represents less than one per cent of the more than 2.2 trillion dollar community green bond issued in 2022.
N’Sele said the institutions in the Global Green Bond Initiative (GGBI) comprised the European Investment Bank, European Bank for Reconstruction and Development, and Italy’s Cassa Depositi e Prestiti.
Others are the Spanish Agency for International Development Cooperation, Green Climate Fund and Germany’s KfW development bank, while PROPARCO of the AFD Group act as consortium of European development finance institutions.
The AfDB’s chief financial officer signed the declaration with representatives of the coalitions’ institutions on the sidelines of the 2023 UN Climate Change Conference (COP28) in Dubai, United Arab Emirates.
N’Sele said the engagement was to tap from the Global Green Bond Initiative technical assistance programme announced by European Commission President Ursula von der Leyen in June 2023.
”The Initiative will help private capital flow from institutional investors into climate and environmental projects in EU partner countries, increasing their access to capital.
”Providing technical assistance to green bond issuers in emerging markets and developing economies (EMDEs), and crowding in private investors through a dedicated de-risked fund.
”This will act as an anchor investor in green bonds issued in EMDEs.
“The anticipated impact can be up to 15-20 billion euro in green investments,” she said.
N’Sele said the partners supported the origination of green bonds, development and identification of pipelines of green projects, and the development of credible and coherent green bond frameworks.
“This joint declaration among us to collaborate on technical assistance on green bonds in Africa is our commitment to work together and it is significant and impactful.
”There cannot be impactful development in Africa without vibrant local capital markets,” the AfDB official said.
N’Sele highlighted the AfDB’s engagements in the green bond market, including issuing over 10 billion dollar worth of green and social bbondsin 2022 to support sustainable progress across Africa.
“Let’s help Africa fully leverage the power of green bonds, and we can contribute together towards a sustainable future for Africans,” she said.
Mr Stefano Signore of the European Commission’s partnerships directorate, described the partnership with the AfDB as an important milestone in efforts to mobilise green bonds in emerging developing economies.
Also, representative of the Spanish Agency for International Development Cooperation (AECID) expressed hope that the partnership would contribute to the intensification of climate and environmentally relevant projects.
”We hope to also contribute to pipelines that can set off the mobilisation of the global green bond initiative.”
NIS opens passport office in Ikorodu
The Comptroller- General of Nigeria Immigration Service(CGI), Mrs Caroline Adepoju ,on Friday assured Nigerians that they would get their passports within three weeks of submitting their applications.
Adepoju gave the assurance while inaugurating a new passport office in Igbogbo community in Ikorodu, Lagos State .
Adepoju said passports would now be processed and issued speedily provided applicants submit all the required details in their applications.
She advised the public to ensure that they renew their passports six months before its expiration to avoid problems while applying for visa to some countries.
Adepoju thanked the people of Igbogbo for their support and for providing all that was needed to start operation in the area.
“I thank the traditional ruler and the people of Igbogbo for their support and for ensuring the realisation of this project.
“This is my first assignment after my confirmation as the substantive Controller General of Nigeria Immigration Service.
“I want to advise the public to ensure they renew their passport six months before expiration to avoid being denied visa by some countries,” she said.
Speaking, Gov. Babajide Sanwoolu said the establishment of the passport office in Igbogbo would improve service delivery i to Nigerians and save the people of Igbogbo and environs the stress of traveling far to obtain tbeir passports..
Sanwoolu, represented by Mr Ibrahim Layode, Commussioner for Home Affairs, said the role of Immigration in any country could not be over- emphasised.
He said that the establishment of the passport front office in Igbogbo was a testament to Federal Government’s commitment to providing world -class immigration services in line with global standard.
Also speaking, the council Chairman of Igbogbo Baiyeku Local Counvil Development Area(LCDA) Mr Olusesan Daini, urged the CGI to consider expanding operations at the new passport front office .
Daini said the council would synergise with NIS to ensure the edifice was maintained.
“We will also improve our security architecture to ensure the office is secure.”he said.
He said that the new passport office was a welcome development as residents would no longer have to travel far to obtain or renew their passports.
“The establishment of this passport front office in Igbogbo will improve commercial activities.
“The council will also improve its security architecture to provide adequate security in the area,” he said.
Adeboruwa of Igbogbo, Oba Orimadegun Kasali ,who spoke on behalf of all the traditional rulers in Ikorodu Division , said he was very happy that the passport front office was established in his domain.
He added that it would go a long way in improving commercial activities in the area.
Adeboruwa commended all those who facilitated the establishment of the passport office in the community.
“I cannot say how happy I am today, infact ,this office will put Igbogbo community in world map.
” I appreciate everybody that has contributed in one way or the other to make this a success,especially the family that donated the land .
“I am glad that Igbogbo passport office has come to stay,” he said.
Nigeria, Germany sign Siemens power project accelerated implementation agreement
President Bola Tinubu and German Chancellor Olaf Scholz were witnesses to the signing of an accelerated performance agreement in Dubai on the Siemens power project in Nigeria.
The agreement was signed on the side-line of the on-going 2023 United Nations Climate Change Conference, COP28 by Mr Kenny Anuwe, Managing Director of FGN Power Company on behalf of Nigeria.
Ms Nadja Haakansson, Siemens Energy’s Senior Vice-President and Managing Director for Africa signed on behalf of the German company.
Speaking after signing the agreement, Anuwe highlighted Siemens Energy’s effective delivery of crucial equipment worth more than 63 million Euros to Nigeria since the commencement of the project.
This includes 10 units of 132/33KV mobile substations; three units of 75/100MVA transformers, and seven units of 60/66MVA transformers, currently being installed by FGN Power Company at various sites.
The Dubai agreement was signed to expedite the implementation of the Presidential Power Initiative (PPI) to improve Nigeria’s electricity supply.
The PPI, formerly known as the Nigeria Electrification Roadmap Initiative, was the outcome of the visit by former German Chancellor Angela Merkel to Abuja in August 2018.
An agreement was signed between the governments of Nigeria and Germany in 2019 to improve Nigeria’s power sector.
Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale, stated on Friday in Abuja that since assumption of office, Tinubu had advocated the accelerated realisation and expansion of the PPI.
To achieve this, the project has been a major focal point in three rounds of bilateral discussions at meetings between President Tinubu and the German Chancellor in New Delhi, in Abuja and in Berlin.
The Dubai agreement will facilitate the modernisation and expansion of Nigeria’s electric power transmission grid with full supply, delivery and installation of Siemens-manufactured equipment within 18 to 24 months, Ajuri stated.
It will ensure project sustainability and maintenance with full technology transfer and training of Nigerian engineers at the Transmission Company of Nigeria (TCN), he added.
The project will also focus on identified load demand centres with particular emphasis on economic and industrial hubs nationwide and the execution of new 330kV and 132/33KV substations in target load centres with economic priority.
These are in addition to thousands of kilometres of overhead transmission lines to connect new substations with existing ones, Ajuri also stated.
News6 years ago
NLC, NUT shock El-Rufai with massive protest
Politics4 years ago
Implementation of N30,000 minimum wage depends on each State’s capacity -Governor’s Forum
Energy6 years ago
Cost reflective tariff, our challenge – Ikeja Electric
News8 years ago
Wema Bank awarded two ISO Certifications
News6 years ago
2019: OBJ lobbies Tinubu, Kwankwaso, Duke in new party
News8 years ago
10 dead, 4 rescued as shipping mall collapse in Ogun
News7 years ago
Relocation to Ghana: Nigeria to lose $12bn foreign airlines investments
News7 years ago
Ekweremadu visits Fani Kayode, Abati, others in EFCC cell