News

African Development Bank President calls for Global Vaccine Solidarity and Justice for Africa

African Development Bank (AfDB.org) President Dr. Akinwumi Adesina has called for vaccine justice for Africa. Speaking at the launch of the Bank’s African Economic Outlook 2021 report on Friday, Adesina decried the lack of Covid-19 vaccines reaching Africa.

“We need global solidarity and vaccine justice for Africa,” Africa’s premier development bank chief said.

Adesina underlined the stark disparities between vaccine acquisitions by several rich countries that have acquired sufficient vaccines to inoculate their populations twice over, and African countries, that remain primarily dependent on the World Health Organization’s COVAX initiative for the minuscule quantities of vaccines acquired so far.

Speaking on CNN’s First Move with Julia Chatterley on Friday, Adesina said: “So far, 14.6 million vaccines have been delivered in Africa, but many people still cannot get shots in their arms. That is only 1% of what we need. We are way off the mark in terms of getting to 60% of herd immunity, and sadly, I do not see that happening for another year or two at this rate— not unless things change.”

According to Adesina, “We therefore need to improve Africa’s access to vaccines. COVAX is doing a great job but still, we need more. We need them in adequate quantity. We need them quickly and we need them at an affordable price.”

So far, 14.6 million vaccines have been delivered in Africa, but many people still cannot get shots in their arms

Acquiring vaccines has significant implications for African countries. As Adesina emphasized in a broader discussion with panelists at the launch of the African Economic Outlook 2021—including Professor Joseph E. Stiglitz, recipient of the 2001 Nobel Memorial Prize for Economic Sciences—for Africa, rapid vaccine acquisition is a matter of life and death. As elsewhere, Africa’s first priority is to prolong lives and preserve jobs.

From an economic perspective, Stiglitz agreed with Adesina that the slow pace of acquiring vaccines and arresting the pandemic will make stemming extreme poverty and negative economic growth difficult. They agreed that a comprehensive global plan was needed to help countries cope with mounting debt, which the pandemic had compounded.

Africa’s economy is expected to grow by 3.1% in 2021. However, 39 million Africans could be pushed into extreme poverty this year because of the pandemic unless the international community takes the kind of action that Stiglitz and Adesina are calling for now.

The African Development Bank chief says: “as long as Africans remain unvaccinated, the world will go right back to square one.” He said no amount of ‘vaccine passports’ being advocated for by some developed countries could change that fact.  “Africa needs to develop its pharmaceutical industry and begin manufacturing. The African Development Bank is going to support African countries to do this,” Adesina said.

Supporting this position, Stiglitz said in his conversation with Adesina: “One of the things that some of us have been campaigning for is the suspension of the intellectual property rights related to Covid-19 because the supply constraint that you describe is at least, to some extent, artificial… If access to the intellectual property rights were more extensive, there is throughout the emerging markets and developing countries considerable capacity to produce a lot of more vaccines.”

He added that it was in the self-interest of advanced countries to make sure that everybody has access to the vaccine and other related medicines. “The longer the disease festers in any part of the world, it can mutate and one of the things we know is that those mutations are not going to respect borders. The Covid-19 virus doesn’t carry a passport.”

Other notable African voices that have called for speeding up vaccine delivery to Africa are those of South African President Cyril Ramaphosa, WHO Director General Tedros Adhanom Ghebreyesus, and Director of the Africa Centres for Disease Control and Prevention, Dr. John Nkengasong.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Leave a Comment

Your email address will not be published.

You may also like

Agriculture Business Featured Finance News Society Sponsored Technology Telecoms

USSD LAUNCH: NIGERIA’S NO. 1 AGRITECH COMPANY EXPANDS ACCESS TO QUALITY FARM INPUTS.

post-image

 

Information technology is a driver of any sector and boosts productivity; agriculture inclusive. In a bid to ensure that food production and security are improved, AFRIMASH Company Limited, an indigenous agriculture eCommerce platform has introduced a ground-breaking USSD technology and Agent Network system for farmers to have access to farm inputs at the click of a button. The Company has been described as innovative and the first of its kind in the country by industry watchers and stakeholders. Afrimash is positioned to improve the way farmers are engaged in the rural parts of the country using these two technologies.

Our USSD code, *2282*2#, and Agent Network System are unique in the Agri-tech ecosystem and are posed as solutions to the challenges farmers face in rural communities. Speaking to the media on the importance of the newly introduced USSD technology, Ayoade Ahmed Oyedotun, the Chief Executive Officer and Co-Founder of Afrimash…

Read More
Business Events Investments News Society Technology Trends

FINTRAK BRINGS INNOVATIVE TECH SOLUTIONS TO THE RWANDA FINANCIAL ECOSYSTEM

post-image

 

 

 

Fintrak Software Limited, an indigenous financial technology firm based in Lagos with an international footprint in various African country recently held banking and financial industry of Rwanda in awe with the reintroduction of their solution known as ENTERPRISE PERFORMANCE MANAGEMENT SOLUTION. A software application that is designed for businesses to boost productivity and reduce human error in all the areas of their enterprise. The Fintech also presented their credit management solution known as CREDIT MANAGEMENT SOLUTION, the event was held at the KIGALI MARRIOT HOTEL, in the Rwandan capital City.

Speaking to the Rwanda financial ecosystem, the company described the Credit management solution as a software that was designed to help banks meet the need to identify, measure, monitor and control credit risk as well as to determine that they hold adequate capital against these risks and that they are adequately compensated for risks incurred. The Credit Risk 360 solution…

Read More
Announcements Business Finance Gadgets Technology Technology Trends Trends

Binance Announces Global Advisory Board

post-image

Binance (www.Binance.com), the world’s largest cryptocurrency exchange by trading volume, is pleased to announce the creation of its new Global Advisory Board (GAB), comprised of distinguished experts in public policy, government, finance, economics, and corporate governance.

 

The Global Advisory Board, chaired by former US Senator and Ambassador to China, Max Baucus, recently convened in Paris, France. The board’s purpose is to advise Binance on some of the most complex regulatory, political, and social issues the entire crypto industry faces as it grows and evolves at a fast pace.

“For the past five years, Binance has been at the forefront of pioneering the exciting new world of crypto, blockchain, and Web3,” said Binance founder and CEO Changpeng Zhao. “In that time, we’ve tackled complex issues no one even knew existed. We’ve maintained our focus throughout on delivering compliance solutions that protect the interests of crypto users, while keeping…

Read More
Business Fashion Society Sponsored Tourism Travels Trends

Africana X plosion – From Nigeria to the World; Africana set standards for success in Africa

post-image

The merry sound of clinking glasses, hearty laughter and afrobeats music permeated the cool September evening at Rue Marconi Zone 4, a posh business district in the Ivorien port city of Abidjan. The motley crowd of extremely well and colourfully dressed individuals gathered at the brilliantly lit venue were celebrating the grand opening of an Africana X (https://shopAfricana.co) flagship store – the first of its kind outside of Nigeria.

VIDEO

 

By establishing this new store in Abidjan, a city that widely reflects the culture of French speaking West Africa, the Africana (https://bit.ly/3R7Wv8m) brand made significant statement of intent – that they are taking the lead in the movement to propagate African fashion on a global scale.

Perhaps, this explains…

Read More
Announcements Business Education Events Featured Investments News Society Tourism Travels Trends

THINK CANADA FAIR BRINGS INTERNATIONAL STUDY EXPOSURE TO ALL NIGERIANS IN THEIR FORTHCOMING EVENT

post-image

 

 

The need for people to have international exposure in today’s highly competitive workplace becomes important and imminent. This has made a lot of Nigerians to think of schooling in reputable international universities that will avail them the great opportunities of modern workplace and globalized world. In line with this narrative, Think Canada Fair is bringing to Nigerians that are willing to utilize the opportunities of schooling in Canada a platform with Canada 2023 at Nigeria’s Biggest Study Fair this October.

The Think Canada Fair is bringing together an array of top Canadian Universities, alongside their representatives, to the biggest study fair in Nigeria. Happening across 3 major cities in Nigeria, the annual event is scheduled to be held in Lagos, Abuja and Port Harcourt on October: 14th, 15th, 18th and 20th 2022 respectively.

Speaking to the media in a press conference, the Marketing Manager, Femi Olatunji said, “we are looking forward…

Read More
Business Events Health Interviews News Opinion Society

MOPPET BABY FORMULA:AFTER ONE YEAR IN BUSINESS NIGERIANS ARE HAPPY WITH THE PRODUCT!!! 

post-image

 

Baby formula has been expensive and one of the biggest fear that new parents have. In short in Nigeria they will tell you that one should use protection because the cost of NAN and other cereal is expensive. Having seen and noticed the plight of Nigerian in terms of feeding their infants with good foods that are created specifically for the Nigerian infants. Roberta Edu, a serial businesswoman and a core IT expert established Moppet to cater for these sets of Nigerians.

Just after a year of doing business. A business that came up during the COVID 19 lock down when shops where closed and there is need to feed kids. Being a mother Roberta researched on the best way to feed her lovely child when the shops and malls are closed. She came up with Moppet. A business born out of idea and COVID 19 lock down.

Speaking on the…

Read More
Business Investments News Security Society Technology Technology Trends

Ukheshe and Digital PayGo drive Zambian business growth through the SME in-a-box Merchant Solution

post-image

Ukheshe’s SME in-a-box solution is making tangible changes to the lives of millions in Zambia through a partnership with Digital PayGo, improving financial inclusion and enhancing business dealings for entrepreneurs.

Digital PayGo, a local Zambian fintech driving a mobile-first approach, enhancing the digital payment space for SMEs, is the first partner to utilise Ukheshe’s SME in-a-box solution to its fullest extent and provides a range of virtual financial services to its customers.

“We’re so proud to be the technology partner enabling Digital PayGo in their partnership with Zambian bank Zanaco and Mastercard to implement this solution,” says Mark Dankworth, President of Business Development in Africa at Ukheshe.

“In line with Mastercard’s vision of enabling 50 million SMEs by 2025, the relationship between Ukheshe and Digital PayGo was a natural fit, given our shared…

Read More
Business Society Technology

NITDA INTENSIFIES COMMITMENT TO CREATE A DIGITALLY FORMIDABLE FEDERAL CIVIL SERVICE

post-image

NITDA INTENSIFIES COMMITMENT TO CREATE A DIGITALLY FORMIDABLE FEDERAL CIVIL SERVICE

The National Information Technology Development Agency (NITDA) has continued to display its commitment to the sustainability of a digitally transformed Nigeria by engaging the workforce of various Federal Public Institutions (FPIs) in capacity development programmes to create a digitally formidable federal public service towards the realization of a digital Nigeria.

This was revealed at the closing ceremony of a capacity-building programme organised by NITDA for 100 participants from Ministries, Departments and Agencies (MDAs), Military and Paramilitary agencies who were trained on Digital Literacy and Skills, Cybersecurity Essentials and Cloud Computing.

Giving his closing remark at the event, the NITDA Director General of NITDA, Kashifu Inuwa CCIE expressed his pleasure at the participants for their active participation and contribution to class activities throughout the programme while urging them to be good ambassadors of the knowledge gained in their various organisations.

The DG who…

Read More