Latest news with #regionalIntegration
Zawya
03-07-2025
- Business
- Zawya
The Praia-Dakar maritime link should be operational by the end of 2026
The implementation of Praia-Dakar maritime link will mark an important step in regional integration within the Economic Community of West African States (ECOWAS). A workshop to evaluate and validate the various financial options for implementing the Praia-Dakar maritime link opened on Monday 30th of June 2025 in Dakar, Senegal. The aim of this workshop is to define the management and operating procedures, analyse the financial viability and the most appropriate governance models for this maritime link, anticipate the socio-economic and environmental impacts, and propose mitigation measures. It also intends to identify mixed financing mechanisms (public-private partnership, regional funds) and propose a monitoring and evaluation plan incorporating performance and sustainability indicators. Speaking on behalf of Sédiko Douka, Commissioner for Infrastructure, Energy and Digitisation of the ECOWAS Commission, Chris Appiah, Director of Transport of the ECOWAS Commission, reiterated the crucial importance of the Praia-Dakar maritime link in strengthening economic integration and increasing regional trade. 'The Praia-Dakar maritime link, once implemented, will link Cabo Verde, an island state, to the other states of West Africa' said Chris Appiah. He expressed his gratitude to the technical and financial partners supporting ECOWAS in the implementation of the Praia-Dakar-Abidjan transport corridor project. Mamoudou Alassane Camara, Senegal's Director General of Road Infrastructure and Opening-up, and Chairman of the Committee of Experts from the Member States of the Praia-Dakar maritime link, also expressed his gratitude to these partners. He stressed the need and the obligation for West Africans to work towards the realisation of the Praia-Dakar-Abidjan transport corridor project. This multimodal project, he said, should contribute to the development of West Africa. 'We must ensure that the vision of ECOWAS leaders for the implementation of this project becomes a reality. We must move forward together. Together, we can achieve a great deal. What unites us is more important than what divides us' he said. For his part, the Director General of the Senegalese Maritime Affairs Agency, Becaye Diop, informed the audience of the strategic importance of this project for his country and Cabo Verde. For him, this project has received renewed interest and attention since the visit to Praia, in Cabo Verde, on the 24th of May 2024, by the Senegalese President, Bassirou Diomaye Diakhar Faye, he made a commitment with the Cape Verdean authorities to set up the Dakar-Praia maritime link to improve trade and strengthen economic and social cooperation between Senegal and Cabo Verde. The Dakar-Praia maritime link, scheduled to be operational by the end of 2026, is a component of the Praia-Dakar-Abidjan multimodal transport corridor project. Considered strategic, it should be the subject of a specific management model proposal. As for the Praia-Dakar-Abidjan multimodal transport corridor project, it represents an essential element of the wider strategy of ECOWAS aimed at facilitating the free movement of people and goods within the Community area, strengthening trade cooperation, promoting economic development and stimulating regional trade. Considered one of the essential steps towards a more integrated and prosperous West Africa, this regional corridor, which aims to connect the capitals and port areas of eight ECOWAS member states, aims to integrate several modes of transport: road, rail and sea. These states are Cabo Verde, Côte d'Ivoire, The Gambia, Guinea, Guinea Bissau, Liberia, Senegal and Sierra Leone. Through this project, ECOWAS intends to turn the Praia-Dakar-Abidjan corridor into a genuine West African economic hub, driving economic development and regional integration. Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).
Zawya
25-06-2025
- Business
- Zawya
Various personalities from the Amandla Institute and Economic Community of West African States (ECOWAS) reflect on 50 years of existence of the regional organisation
Reflection on the fiftieth anniversary of the Economic Community of West African States (ECOWAS) is the focus of a conference opening on Tuesday 24th of June 2025 in Abuja, Nigeria. Initiated by the Amandla Institute and the ECOWAS Commission, this two-day meeting is a valuable opportunity for participants to discuss the achievements, challenges and prospects of the West African organisation. It is also an opportunity to take stock of the progress made by ECOWAS, to reflect on strengthening cooperation between its member states and to explore new strategies for promoting economic development, regional integration and stability in West Africa. It is also a key moment to measure the impact of ECOWAS on the lives of West African citizens and to consider the next steps to be taken by the regional organisation. The various speakers at the opening ceremony highlighted the major steps taken by ECOWAS to become one of the leading institutions for cooperation and integration in Africa. For the former Governor of Ekiti State, Nigeria, and co-founder of the Amandla Institute, Dr J. Kayode Fayemi, despite internal and external challenges, including funding problems, ECOWAS has achieved admirable growth and consolidation over the 50 years of its existence. 'Indeed, ECOWAS has long been the engine of African regional integration, representing a model from which others continue to draw inspiration,' said Dr J. Kayode Fayemi. For his part, the President of the ECOWAS Commission, H.E Dr Omar Alieu Touray, called for an in-depth reflection on the five decades of the regional organisation, the trials and successes of its journey towards integration, and the way forward in a rapidly changing world. He recalled some of the challenges facing ECOWAS today, namely the withdrawal of three of its member states, the intensification of insecurity in the Sahel and the emergence of geopolitical rivalries in West Africa. He informed participants of the organisation of a summit on the future of West Africa, which will provide an opportunity for a series of reflections on various themes, in order to discuss issues likely to hinder or accelerate the efforts of all parties towards the realisation of ECOWAS Vision 2050. For H.E Dr Omar Alieu Touray, this conference fits in perfectly with the summit agenda, and is a reminder that at the heart of the regional integration programme, the people of West Africa, in all their diversity, can shape a common destiny anchored in peace, prosperity and mutual respect. 'Let this conference serve as a compass, not only to remember, but also to renew. May our dialogue be bold, thoughtful and, above all, useful. May this meeting inspire us to renew our commitment to the enduring ideals of ECOWAS and the hope of a more united and resilient West Africa', said H.E Dr Omar Alieu Touray. Among the participants at this meeting was the former Nigerian President and one of the founding fathers of ECOWAS, General Yakubu Gowon. He gave an overview of the conditions and circumstances that led to the signing, on the 28th of May 1975, of the Treaty of Lagos establishing ECOWAS. He also recalled the key role played by eminent West African personalities in the creation of the regional organisation, starting with its co-founder, the Togolese president at the time, the late General Gnassingbé Eyadéma. 'The ambition of ECOWAS is to strengthen cooperation between its member states, promote regional integration and stimulate economic growth,' said General Yakubu Gowon. The meeting has in attendance former Executive Secretaries and Presidents of the ECOWAS Commission, including Dr Lansana Kouyaté and Kadré Désiré Ouédraogo. Other personalities taking part in the conference include Professor Abdoulaye Bathily of Senegal, the former President of Sierra Leone, Dr Ernest Bai Koroma, the Commissioner for Political Affairs, Peace and Security of the ECOWAS Commission, Ambassador Abdel-Fatau Musah, and the Director of Cabinet of the President of the Commission, Abdou Kolley. Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).
Zawya
24-06-2025
- Politics
- Zawya
H.E. President João Manuel Gonçalves Lourenço of the Republic of Angola received H.E. @ymahmoudali, Chairperson of the African Union (AU) Commission and his delegation, at the State House
This morning in Luanda, on the margins of the US-Africa Business Summit, H.E. President João Manuel Gonçalves Lourenço of the Republic of Angola received H.E. Mahmoud Ali Youssouf, Chairperson of the AU Commission and his delegation, at the State House. The Chairperson briefed the President on the regional developments, including the situations in Eastern DRC, Sudan, South Sudan, the Sahel, and Somalia, as well as ongoing efforts to mobilise sustainable funding for African-led peace support operations. President Lourenço commended the Chairperson's leadership in advancing peace, security, and regional integration, and encouraged continued diplomatic engagement in resolving ongoing conflicts, and AU activities in support of Agenda 2063. Distributed by APO Group on behalf of African Union (AU).
Zawya
24-06-2025
- Business
- Zawya
Angola Becomes Shareholder in Africa Finance Corporation (AFC), Reinforcing Commitment to Africa-Led Development
Africa Finance Corporation (AFC) ( Africa's leading infrastructure solutions provider, today announced that the Republic of Angola has become its latest sovereign shareholder. This strategic equity investment further strengthens Angola's partnership with AFC and underscores the country's confidence in AFC's mandate to accelerate sustainable development and regional integration through transformational infrastructure. As a member of the Africa Finance Corporation since 2022, Angola has deepened its strategic partnership with the institution through a landmark equity investment commitment of US$184.8 million. This bold move reflects Angola's confidence in the AFC's institutional strength and its ambition to help shape Africa's development agenda from within. It builds on nearly US$1 billion in AFC investments across Angola's priority sectors—power, rail, logistics, and critical minerals—core to the country's industrialization and economic diversification strategy. The investment also signals growing momentum for African-led capital solutions to drive long-term, transformative growth across the continent. Earlier this year, the Fundo Soberano de Angola, Angola's Sovereign Wealth Fund, also made a US$25 million equity investment in AFC. Together, these investments reflect a cohesive national strategy to advance Angola's infrastructure and industrial development agenda through close collaboration with the Corporation. With this milestone investment, Angola becomes the second Lusophone African nation, after Cape Verde, to join the growing list of equity investors in AFC. This underscores the Corporation's expanding pan-African footprint and its commitment to accelerating the continent's structural transformation through strategic, high-impact partnerships. 'Angola's capital commitment underscores the impact of sovereign alignment with AFC's mandate to catalyse Africa's transformation. It affirms the value of combining national vision with AFC's model of delivering critical infrastructure, deploying innovative financing solutions, and forging catalytic partnerships across the public and private sectors', said Samaila Zubairu, President&CEO of Africa Finance Corporation. 'This marks a significant step in AFC's journey to broaden shareholder representation across Africa'. Dr. Vera Daves de Sousa, Angola's Minister of Finance, said: 'Angola's shareholding investment in AFC signals our strong belief in the power of partnerships to deliver lasting economic transformation. The Corporation has been a trusted ally over the last few years, financing strategic sectors including infrastructure, energy, and industrial projects critical to our diversification efforts, and we look forward to a continued, mutually beneficial partnership'. AFC and Angola have had a strong collaborative history over the years, exemplified by initiatives such as the Lobito Corridor project, where AFC is acting as lead developer alongside other partners. This transformational multi-country transport network connecting Angola, Zambia, and the Democratic Republic of Congo (DRC) has the potential to unlock new industrial and value-chain opportunities across key sectors, including mining, agriculture, energy, and tourism. Distributed by APO Group on behalf of Africa Finance Corporation (AFC). Media Enquiries: Yewande Thorpe Communications Africa Finance Corporation Mobile: +234 1 279 9654 Email: About AFC: AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC's approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth. Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.
Zawya
29-05-2025
- Business
- Zawya
Amadou Hott outlines his vision for African economic transformation at the African Development Bank's Annual Meetings
At the African Development Bank's (AfDB) annual meeting in Abidjan this week, presidential candidate Amadou Hott ( al unveiled his comprehensive vision for Africa's economic transformation, emphasizing regional integration, private sector engagement, and affordable financing as the cornerstones of his agenda in several media engagements with African and international outlets. Hott, who served as AfDB Vice President for Energy, Green Growth and Climate Change and as Senegal's Minister of Economy, Planning and Cooperation, stressed the urgent need to accelerate Africa's transformation through bold yet pragmatic reforms. He highlighted the importance of regional integration and improved connectivity to foster economic growth, calling for enhanced trade infrastructure and mechanisms to unlock the continent's full potential. 'We are 1.4 billion people, but we are scattered across many countries, each with its own rules and regulations. To attract massive investment and create jobs, we must work on our integration and improve intra-African trade,' he said in an interview with CNBC ( A central pillar of Hott's agenda is the promotion of private sector engagement as a key driver of job creation and economic dynamism. He pledged to triple the Bank's private sector operations over the next decade, including the establishment of a dedicated vice presidency for private sector development. This new structure aims to streamline collaboration with businesses of all sizes, from SMEs to large conglomerates, and to expand tailored credit lines and guarantees for African banks. Addressing the challenge of Africa's high cost of capital, Hott called for urgent measures to reduce borrowing costs by improving credit ratings and lowering risk premiums. He argued that affordable financing is essential to accelerate development projects and support both public and private sector growth. In an interview with Bloomberg ( Hott dived into how he intends to leverage Africa's domestic wealth. 'We cannot afford to wait for others to lead us forward. Africa's future will be built not just on external support, but on our own wealth, our talent, and our ability to structure opportunities at scale. We must do it ourselves, and the Bank must be at the center of that transformation,' he said. Hott's vision also prioritizes education and skills development. In an interview with leading Nigerian newspaper Business Day ( Hott shared how his own story inspired his vision. 'I do not believe Africa's future should be built on exporting its talent out of necessity. Emigration must be a choice, not a development strategy. When our youth leave because they cannot find opportunity at home, that is not success—it is a sign that we must do more,' he explained. Positioning himself as a unifying leader, Hott emphasized on his intentions to foster an environment of institutional agility and increased impact and streamline the Bank's operations for speed, scale and impact. He further emphasized on the importance of collaboration among regional and non-regional stakeholders, development banks, the private sector, and African entrepreneurs and offered that the Bank serves as the bridge builder among all these stakeholders. He called for collective action to address the continent's pressing challenges, including youth unemployment, poverty, and inequality. 'My passion is Africa. I have always worked to mobilize resources, build partnerships, and deliver impact, not just for my country, but for the entire continent,' Hott affirmed. As Africa faces declining aid, geopolitical uncertainties, and the imperative for job creation, Amadou Hott's vision for the AfDB signals a transformative path toward self-reliance, dynamic growth, and shared prosperity. Distributed by APO Group on behalf of Amadou Hott, Candidate for the Presidency of the African Development Bank Group.
