The U.S. Government’s Prosper Africa initiative has announced the close of $274 million in long-term financing for West Africa’s rapidly growing housing sector.

This is in partnership with Bank of America Securities, Inc, Brean Capital, LLC, The Bank of New York Mellon, Togo’s Caisse Régionale de Refinancement Hypothécaire (CRRH), the U.S. Agency for International Development (USAID), and the U.S. International Development Finance Corporation (DFC).

This partnership, announced on Thursday, opens new opportunities for U.S. investment in Africa’s emerging markets and provides an avenue for West Africans to gain greater access to homeownership, a statement by Africa Regional Media Hub said.

MiDA Advisors served as the originator and lead transaction advisor on this landmark transaction.

This deal represents an innovative approach to mobilise transparent, market-oriented financing at scale and is expected to help about 6,000 households gain access to homeownership.

As part of Prosper Africa’s whole-of-government approach, USAID funded MiDA Advisors and CrossBoundary to provide advisory services that prepared CRRH for a global bond issuance, and DFC provided a credit guarantee, allowing investors to access an untapped market opportunity while meeting their risk profiles.

Through this transaction, for the first time, CRRH accessed cheaper, longer-term capital with a 17-year $217 million equivalent Eurobond that was issued via a U.S. trust alongside a local currency bond equivalent to $57 million for a total raise of $274 million from international and local institutional investors.

Cameron Khosrowshahi, Senior Investment Advisor with Prosper Africa, said: “Prosper Africa’s partnership with leading U.S. and African financial institutions signals increased U.S. investor interest in investing in African markets.

“This is to meet the enormous demand for affordable housing in West Africa.

“Our collaboration is a blended finance transaction that will catalyze investment at scale and create generational wealth through homeownership for thousands of people across West Africa.”

Also, Jim Polan, DFC Vice President for the Office of Development Credit, said: “DFC partners with the private sector to make impactful investments around the world, including in West Africa where affordable housing is a critical need.

“The agency is pleased to work with such a diverse group of investors, including colleagues from the U.S. Government on this important issue that will help provide affordable housing and bolster stability for thousands in the region.” (NAN) www.nannews.ng

Edited by Vivian Ihechu

By Muhyideen Jimoh

Mr Masudur Rahman, Bangladesh High Commissioner to Nigeria has called for more comprehensive ways to boost the growing trade relations between Nigeria and Bangladesh.

Rahman made the call on Thursday in Abuja in an interview with the News Agency of Nigeria (NAN).

He said the trade volume between both countries currently stands at about $70 million dollars with prospects of solidifying and tapping into other areas of mutual interest.

“The bilateral trade between Nigeria and Bangladesh currently stands at a modest $70 million dollars, with Bangladesh only contributing $20 million as export to Nigeria.

“Previously the bilateral trade was even much insignificant but it is picking up,

“So we are working on all fronts to deepen the bilateral cooperation in the areas of education, technical training exchanges, pharmaceuticals, ICT, software, textile/garments, and so on,” he said.

The envoy said Bangladesh was willing to deepen trade with Nigeria in the Oil/gas sector and agricultural sector with products like cotton, soya beans, ginger, millet, etc.

He, however, stressed the need to smoothen all bottlenecks associated with international trade and banking, especially in Nigeria, so as to have more seamless trade and investment.

“There are a lot of challenges in deepening the trade and investment, particularly in the way the banking sector could work to enhance the trading.

“In order to improve international trade, it is important for both countries to smoothen the transactions which are used through Letters of Credit opening and other banking tools.

“We also need to work on the areas of smooth handling, of course, of the goods and products and services that are offered,” he said.

The high commissioner said Bangladesh was looking forward to engaging more with Nigeria in areas like textile/garments, pharmaceuticals, and software which Bangladesh exports to the tune of $1.4 billion dollars.

Rahman recalled that Prof. Isa Pantami, Minister of Communications and Digital Economy had in January led a 17-member delegation to Bangladesh to deepen bilateral cooperation between both countries.

He, therefore, advocated for more such engagements which were facilitated by the Nigeria-Bangladesh Business and Technology Forum.

He said the high commission would continue to work with relevant stakeholders to strengthen the cordial bilateral relations between both strategic countries. (NAN) (www.nannews.ng)

Edited by Emmanuel Yashim

By Temitope Ponle

Wife of the Chinese embassador to Nigeria Mrs Liang Huili, says education plays a crucial role in the development of women and girls.

Liang said this in Abuja at a news conference on Development of Women Cause in China (citing the Chinese experience), held ahead of the International Women’s Day (IWD) celebrated annually on March 8.

“Education plays a very important role. The girls are the future.

“We need to be more concerned about them. We need to give them a fair opportunity of education, and that is my suggestion,” she said.

Liang observed that if women and girls were educated, they could develop themselves, make their own decisions, and live independent lives.

She said the government of China gave both women and men equal rights to education through the formulation and implementation of the appropriate laws and regulations.

“The gender gap in the nine-year compulsory education period has been basically eliminated.

“In 2017, the net primary school enrollment rates for boys and girls were both 99.9 per cent.

“Gender equality in compulsory education has been basically achieved,” she noted.

She added that the number of women receiving vocational and continuing education witnessed a marked increase.

According to her, it is a thing of joy that the day is being celebrated globally, including in Nigeria and China.

She also said the achievements recorded through Nigeria-China bilateral cooperation in recent years could not have been possible without the full participation of women on both sides.

“In the past months, I have met with several female staff and workers from both China and Nigeria, during commissioning ceremonies of some large-scale cooperative projects,” she said.

Liang, therefore, expressed pleasure in seeing that the Chinese mission in Nigeria had, in recent years, made conscious efforts to improve the well-being of women, girls, and other vulnerable groups in the West African country.

She said such efforts included providing support to civil organisations or foundations, adding: “This is a good thing, which will continue.”

Speaking further, she said the Beijing Conference of 1995 on women, organised by the United Nations, has frequently been cited and mentioned on different occasions because ”it is regarded as a significant turning point for the global agenda of gender equality.”

She also said the harmony-symphony initiative was forming a new framework for bilateral exchanges of women from both countries.

“I have a strong feeling that harmony is indeed a common value pursued and cherished by both societies in Nigeria and China, which performs a natural bond for the furtherance of our bilateral cooperation.

“Last year, with joint work, my husband, the Chinese Ambassador, put forward the Initiative of Sharing Chinese Harmony and Performing Nigeria-China Symphony.

“It is my view that this initiative, which is rooted from social characteristics of the both societies in Nigeria and China, will give a strong boost to the cultural and people-to-people communications.

“The initiative will also strengthen the exchanges of women from the two countries,” she added.

Liang also said with the just concluded elections, Nigeria and China were about to “turn into a new page of national development”.

“With a deeper participation of women from both countries, our bilateral cooperation would definitely make more achievements and bring more benefits to the two peoples.”

The 2023 theme for the international women’s Day is “DigitALL: Innovation and Technology for Gender Equality”, which highlights the role of innovative technology in promoting gender equality and meeting the health and developmental needs of women and girls. (NAN) (www.nannews.ng)

Edited by Emmanuel Yashim

By Lizzy Okoji

The Embassy of Israel in Nigeria in collaboration with Peramare Medical Services Limited have donated 1,000 free cervical screening tests for women using the innovative Illumigyn Gynescope device.

Ms Deinma Sekibo, Managing Director, Peramare Medical made this known during an event to commemorate the 2023 International Women’s Day (IWD) in Abuja.

NAN reports that the IWD is a global holiday celebrated annually on March 8 as a focal point in the women’s rights movement, bringing attention to issues such as gender equality, reproductive rights, and violence and abuse against women.

Sekibo said that providing free cervical screening testing for women was in line with the goals of Peramare-Illumigyn Africa initiative to eradicate cervical cancer in Africa.

She said that the initiative seeks to achieve this by screening two million women in Africa annually by supplying the Illumygyn Gynescope free of charge to health care facilities across the continent, as well as subsidizing the cost of the test.

“This is a collaboration between Peramare Medical and the Illumigyn company which is an Israeli-based femtech company. So it is feminine technology hoping to address issues that affect women.

“So, our plan is to increase access to screening that is in line with what we have done today by donating 1,000 Free cervical cancer screening tests using the Illumigyn gynescope.

“What the Illumigyn gynescope. does is it allows you to visualise the cervix identify suspicious lesions and helps in diagnosis of cervical cancer with a quicker turn around time

“It is not just for that (cervical cancer screening) we can use it for other gynaecological examinations irregardless of what you want to see.

“For the 1,000 free tests, women are to report to Planned Parenthood and they will link them to St. Catharines and the testing will be done free of charge.

“Our goal is to test two million women annually in the whole of Africa. And our goal is to actively work to eradicate cervical cancer

“The thing about cervical cancer is that it is treatable, so long as you detect it on time. So really, what we want is to raise awareness of the importance of testing, which is go to your gynaecologist request a test and check your cervix just to make sure that nothing is going on.

“Usually every three years, as long as you’re sexually active.

“We are at the point of creating awareness, reaching out to stakeholders, and looking for partners really, in this project.

We are partnering with a number of clinics and St Catherines is one of them. So we are signing clinics on, we are signing on organisations.

“We already have a bit of a partnership with Planned Parenthood at this point in time, and we hope to partner with more organisations going forward especially NGOs,” Sekibo said.

Israeli Deputy Ambassador to Nigeria, Inbar Garden said that the Embassy is promoting the project knowing the importance of a woman’s health care.

Garden said that as the world continues to call for actions to accelerating gender parity, making standard, accessible and affordable healthcare for women across the African continent should not be underestimated.

“Like I said in my speech, I think a woman’s survival is something that is very important. One of the things that need to be improved is women’s health.

“And this is why we choose to promote this project because I think it is very important. And if we put effort into health care, we can only go higher from there,” Garden said.

Also speaking, Dr John Okoye, an Obstetrician/Gynecologist with St Catherine’s Clinic, said that the innovative Illumigyn machine will advance testing, and accurate diagnosis of cervical cancer in women.

Okoye said that that novel technology with high resolution images and magnification of the cervix also allows the patient see what whatever is going on inside the cervix alongside the doctor.

“It is an equipment that is useful for the screening and diagnosis of cervical screening and can be used for other things as long as the challenge is within the vagina and the cervix.

“I want to thank Peramare for launching this, it was delivered to use free of charge, and it is going to be a life-changing equipment for a lot of women.

“And I equally want to encourage every woman who is up to twenty-one years old, sexually active really need to have her cervix screened.” Okoye said.

The News Agency of Nigeria (NAN) reports present at the event were Female and some male Ambassadors, High Commissioners and Members of the Diplomatic Community. (NAN) (www.nannews.ng)

Edited bySadiya Hamza

By Ismaila Chafe

President Muhammadu Buhari has called on developed and developing nations to grant duty-free and quota-free market access for products originating from the world’s 46 least-developed countries.

He said that this would ensure their integration in regional and global value chains.

Malam Garba Shehu, the President’s spokesman in a statement, said Buhari made the call in Doha, Qatar, at the UN Conference of Least Developed Countries.

Buhari decried the current structure of the global financial system which places an unsustainable external debt burden on the most vulnerable countries.

He warned that such debt burdens would make it extremely difficult for LDCs to meet the 2030 Agenda for Seventeen Sustainable Development Goals (SDGs).

‘‘In 2015, the world came together to endorse the 2030 Agenda for Seventeen Sustainable Development Goals.

”There was no doubt that it was highly ambitious and would require leaders around the world to be fully committed for the SDGs to be achieved within the projected timeframe.

‘‘Eight years on, the possibility of achieving the SDGs remains bleak for many countries, particularly, the Least Developed Countries.

”The difficulties in achieving the SDGs are numerous and were further compounded by the COVID-19 pandemic, the continued threat of Climate Change, and recently the Russia-Ukraine conflict.

‘‘The Least Developed Countries are often faced with developmental vulnerabilities and challenges that are not always of their making.

”These pose huge obstacles to their development efforts, hence the need for urgent and robust assistance to help unlock their potentials and build socio-economic resilience.”

According to him, this assistance can be provided within the framework of the Doha Programme of Action which is designed to help LDCs exit their current classification.

Buhari challenged developed countries, civil society actors, the private sector, and the business community, to partner with the LDCs in order to provide necessary resources and capacity to deliver development outcomes in the economic, social, and environmental aspects of the 2030 Agenda.

He listed some measures that would help LDCs recover from COVID-19, achieve SDGs, develop and prosper over the long term.

‘‘As a matter of urgency, there are a number of priorities we have to focus on to help achieve the SDGs in these countries and ensure their prosperity.

”First, COVID-19 has taught us that we must all work together, to ensure that diseases do not thrive in the LDCs, due to their overall negative impact on productivity and economic growth and development.

‘‘Accordingly, policy and budgetary provisions must be made to ensure equal access to medicare and vaccines, for both the poor and the rich alike.

”We must also work with manufacturers of medical equipment and pharmaceutical companies to provide adequate equipment, test-kits, vaccines and treatments for diseases,’’ he said.

While expounding on the issue of rising debt burden, Buhari underscored the need for reforms of the international financial architecture that prioritizes the need of LDCs.

He aligned with the United Nations Secretary-General’s description on the global financial system as an “unfair debt architecture that not only charges poor countries much more money to borrow on the market than advanced economies, but downgrades them when they even think of restructuring their debt or applying for debt relief.”

On trade issues, the president said: ”It is important to put in place modalities to facilitate transit cooperation, transfer of technologies, and access to global e-commerce platforms, as they are critical for the integration of LDCs into the regional and global value chains and communications technology services.

‘‘The adoption of a global coordination mechanism to systematically monitor illicit financial flows and engender support for a United Nations International convention on tax matters to eliminate base erosion and profit shifting, tax evasion, capital gains tax and other tax abuses is essential to achieving the SDGs and promoting security and economic prosperity,’’ he said.

On Nigeria’s expectation for the Conference, Buhari expressed optimism that the Doha Programme of Action would lead to the acceleration of exports from LDCs by 2031, through the facilitation of their access to foreign markets in line with World Trade Organization Facilitation Agreement.

On climate change, according to Buhari, LDCs continue to suffer disproportionately in spite of contributing least to its causes.

He added that countries must prioritize cutting global emissions and work with determination to hold warming to 1.5 degrees, thereby securing the children’s future.

‘‘We must also commit to helping build resilience in developing countries, while also providing the needed technical as well as financial support for a just transition to renewable energy,’’ he said.

According to him, climate change remains one of the biggest existential threats facing humanity today, posing challenges to lives and livelihoods, and manifesting in different negative forms, including increase in temperature, rise in sea levels, flooding, drought, and desertification.

‘‘It has also led to significant loss of biodiversity. Worst still, climate change has exacerbated conflicts and led to unplanned migration, causing untold hardship in places like the Lake Chad Basin region.

‘‘The Least Developed Countries therefore continue to suffer disproportionately from the effects of climate change, despite contributing the least to its causes.

”Deaths from climate related crises are higher in the most vulnerable countries, with projections that there will continue to be an upward trend.

‘‘We must continue to focus on how best to ensure the provision of security, education, health and other basic services to our people, in order to guarantee a prosperous future for all,’’ he said.

Buhari commended the State of Qatar for hosting the Conference and thanked Sheikh Tamim Bin Hamad Al Thani, the Emir, for inviting him.

He also expressed appreciation to the UN for its excellent organisation of the conference and its continued support for the LDCs.

The president also explained his presence at the conference in spite of the fact that Nigeria is not categorised as one of the Least Developed Countries.

‘‘Nigeria is here to show solidarity and support to the LDCs in the quest to achieve the Sustainable Development Goals, especially in this decade of action, where no one should be left behind,’’ he said. (NAN) (www.nannews.ng)

edited by Sadiya Hamza

By Fortune Abang

The China Communications Construction Company (CCCC) has promised to partner with various countries to build projects designed to improve people’s wellbeing globally.

The Chairman of CCCC, Wang Tongzhou, made the promise in a statement on Wednesday against the backdrop of the field visit by 111-diplomatic envoys of foreign countries to the company in Beijing, China.

“With a vision of making the world smoother, cities more livable and life more colorful, CCCC is willing to work with various countries to build more projects aimed at improving people’s well-being.

“Also to see that every person in every country shares more fully and fairly in the gains of cooperation.

“111-diplomatic envoys of foreign countries and representatives of international organisations visited CCCC witnessing the company’s achievements and capability in infrastructure construction at home and abroad.

“As one of the most successful Chinese enterprises to go global, CCCC has promoted high-quality Belt and Road development and deepened friendly cooperation with governments and enterprises in various countries.

“This is through the building of roads, bridges, ports, and cities, said Wang Tongzhou, Chairman of CCCC.”

He quoted diplomatic envoys at the event to have also expressed the willingness to enhance cooperation with China in the future.

He explained that the Diplomatic envoys visited the light technology and urban-upgrading exhibition halls of a subsidiary of the company and tried smart light technologies in person.

According to him, the company had built important infrastructure projects like the Gwadar Deep Water Port in Pakistan.

Pakistani Ambassador to China Moin ul Haque also in the statement said that the country would cooperate with CCCC in social and economic projects.

Another envoy in the statement, Ambassador of Philippine to China, Jaime FlorCruz said, China and the Philippines enjoy economic complementarity.

“The latter expects more cooperation between the two countries to benefit each other and the two peoples,” the envoy said.

“More so, South Africa Ambassador to China, Siyabonga Cwele said, “I am deeply impressed by this visit, the new technologies need to be used to improve people’s lives in future,” the envoy said. (NAN) (www.nannews.ng)

Edited by Isaac Aregbesola

The U.S. has approved a 619 million dollars potential sale of weapons to Taiwan to help boost the island’s defence capability.

Taiwan’s foreign ministry said on Thursday that the deal was Biden administration’s ninth arms sale to Taiwan, which fulfils its promise to normalise a policy to sell military equipment and services to Taiwan.

The U.S. is legally bound to support Taiwan’s defence capabilities due to the 1979 Taiwan Relations Act.

U.S. Defense Security Cooperation Agency (DSCA) said in a Wednesday statement that the deal includes missiles and equipment to be used with F-16s fighter jets, including anti-radiation missiles, air-to-air missiles and launchers.

“The proposed sale will contribute to the recipient’s capability to provide for the defence of its airspace, regional security, and interoperability with the United States,” U.S. DSCA said.

It said the deal would help improve Taipei’s security and assist in maintaining political stability, military balance and progress in the region.

In Taipei, Taiwan’s Ministry of National Defence (MND) expressed gratitude for the approval, adding that the deal is expected to take effect one month after U.S. Congress is notified.

MND said the deal would further help Taiwan’s Air Force strengthen its capability to defend the island’s air space in face of frequent Chinese air force incursions.

The deal is likely to draw ire from China, as it considers self-ruled Taiwan part of its territory, in spite of the Island having an independent government since 1949.

MND on Thursday reported a second day of large-scale Chinese air force incursions nearby.

Over the prior 48 hours at least 40 Chinese fighter jets were detected in Taiwan’s airspace, it said. (dpa/NAN) (www.nannews.ng)

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Edited by Hadiza Mohammed/Uche Anunne

Four people were killed and more than 12 others were injured at a market in western Pakistan in a blast believed to have been caused by an improvised explosive device on Sunday morning, media reported.

Preliminary findings suggest explosives had been planted on a motorcycle when they detonated at the Rakhni Bazaar in Barkhan, Balochistan province, Pakistani broadcaster GEO TV reported, citing local police.

The blast was reportedly so strong that it damaged nearby shops and cars.
“Four people were killed. Those injured were taken to the nearest hospital,” Barkhan police officer Sajjad Afzal was quoted as saying.

The number of people injured by the blast varies from 10 to 14 across reports by local media.

Balochistan Chief Minister Abdul Quddus Bizenjo condemned the blast and instructed authorities to take all possible steps to arrest those responsible.

“Those who shed the blood of innocent people are enemies of humanity.

“Terrorists are creating uncertainty to achieve their evil goals. But we will not allow anti-state elements to succeed,” the minister said on Twitter.

The minister promised that the government will adopt an effective counterterrorism strategy.
Local security forces cordoned off the area and halted traffic after the incident to gather evidence, according to media reports.

In recent months, Balochistan province has reportedly seen a spike in violent incidents, including bombings and targeted attacks, leading to increased security measures and public safety concerns. (Sputnik/NAN)(www.nannews.ng)

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Edited by Emmanuel Yashim

Angolan Minister of Mineral Resources, Oil and Gas Diamantino Azevedo announced Saturday that the country intends to create tax incentives to attract more investors to the diamond-cutting sector.

The announcement was made by the minister at the inauguration of the fifth diamond-cutting factory at Saurimo Diamond Development Park in Lunda Sul province.

Azevedo stated that the incentives aim to promote competitiveness, create more job opportunities for young people, and facilitate technology transfer, while emphasizing that his ministry would continue to work toward creating better conditions for industries installed in the park, particularly in response to company complaints regarding a lack of fiscal incentives.

Azevedo noted that the park is a significant contributor to the country’s economic diversification and creates direct jobs, offering training opportunities and motivation.

The Saurimo Diamond Development Park, inaugurated in 2021, is a project with an estimated 77 million U.S. dollars in investment in the first phase. Currently, the park, covering more than 305,185 square meters, has five diamond-cutting factories and a training center.(Xinhua/NAN)