Category: African Development - Page 6

AfDB Corruption Probe: Independent Panel Exonerates Adesina

28Jul

By Obiajulu Joel NwoluNo Comments

African Development, Corruption, Economy, Justice, News, Nigeria

AfDB Corruption Probe: Independent Panel Exonerates Adesina

The independent committee inaugurated to examine the report of the Ethics Committee of the Board of Directors on the accusations made by the whistle blowers against the President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has cleared the bank’s president of any wrongdoing. The top-class independent review committee headed by Mrs. Mary Robinson, former President of Ireland, turned in its report on Monday. The panel was inaugurated in July 2 by the Bureau of Governors of the Bank, following a complaint by the United States, to crosscheck the process by which two organs of the Bank – the Ethics Committee of the Board, and the Bureau of the Board of Governors had hitherto cleared Adesina. In the top-class Revie Panel were- Mary Robinson, who is a former President of...

Namibia’s Central Bank Governor, Gawaxab, Asks Country to Prepare for Impending Digital Revolution

Bank of Namibia (BoN) governor, Johannes Gawaxab has asked the country to get ready to deal with an impending digital revolution and utilize the technological innovation for greater good. Gawaxab made the statement on Thursday at the bank’s 30th anniversary celebration event, reflecting on its progress over the past years while anticipating continuous growth in the next 30 years and beyond. Gawaxab said BoN has been influential in ensuring long-term macroeconomic stability in the country over the past 30 years and has been able to deliver on its core mandate of implementing monetary policy, safeguarding stability, and promoting economic development in Namibia. According to Gawaxab, “On the monetary policy function, the role of the bank has been to set an interest rate path that en...

Rwanda Seals $150 Million Skills Development Agreement with World Bank

Rwanda and World Bank have agreed a $150 million financing agreement to assist the country accomplish skills development in chosen economic sectors. In a statement on Wednesday, Rwanda’s Ministry of Finance and Economic Planning disclosed that half of the fund is a grant while the other half is a concessional loan which is payable within 38 years, with a six-year grace period at 0.75 percent interest rate. The ministry said that the project is planned to improve access to technical and vocational education as well as higher education programs required by labour market and the social and economic growth of Rwanda. Minister of finance and economic planning, Uzziel Ndagijimana in a communique said, “Skills development and employment promotion are central to Rwanda’s National Strategy...