Jump to navigation

Published 12th June 2015

Vol 56 No 12


A double first for Nigeria

African Development Bank Group Activity
African Development Bank Group Activity

New Bank President Akinwumi Adesina takes over as his predecessor warns that its funding strategy needs radical change

Bow-tied and beaming, Akinwumi Adesina seemed to sum up the spirit of Nigeria's revival. His election as President of the African Development Bank in Abidjan on 28 May was a clear victory based on a determined campaign and it was helped by the view that his country now has a government that will use its economic muscle constructively. On the following day, many African presidents and Asian and Western foreign ministers flew to Abuja for the inauguration of President Muhammadu Buhari. Adesina is the first Nigerian to win the AfDB presidency. He won the first round of voting and stayed ahead in all the subsequent rounds, evidence of his presentational skills and of the backroom lobbying. He is the first AfDB President not to have held office as a finance minister or central bank governor, and the first to come from the 'big three' of Egypt, Nigeria and South Africa. Among Francophone states, there was a feeling that it was time for an AfDB President who spoke the language of Molière.

READ FOR FREE


BLUE LINES
THE INSIDE VIEW

With just six months before the climate change treaty talks in Paris, Africa is battling to coordinate an effective negotiating strategy. Governments should muster the political will, says the Africa Progress Panel (APP), to push harder to defend the interests of a continent that contributes least to global warming yet suffers most from it through drought, desertification and increasingly frequent flooding.

In its latest, 180-page report, the APP, under former UN Secreta...

With just six months before the climate change treaty talks in Paris, Africa is battling to coordinate an effective negotiating strategy. Governments should muster the political will, says the Africa Progress Panel (APP), to push harder to defend the interests of a continent that contributes least to global warming yet suffers most from it through drought, desertification and increasingly frequent flooding.

In its latest, 180-page report, the APP, under former UN Secretary-General Kofi Annan, says the treaty should stipulate phasing out the estimated US$600 billion a year subsidies on fossil fuels. 'They should be pricing carbon out of the market through taxation, not subsidising a climate catastrophe,' says Annan. The European Union, China and the United States have improved their position on fossil fuels but Australia, Canada, Japan and Russia have withdrawn from serious dialogue, says the APP.

Most importantly for Africa, the report argues there should be no trade-off between growth and low-carbon development. It sets out research showing how the pioneering technology being developed for low-cost, renewable energy in storing and distributing solar, wind and mini-hydro electricity could give Africa an even bigger economic boost than the introduction of mobile telephone technology two decades ago. Priorities might include redirecting over $21 bn. spent annually on subsidising loss-making utilities and electricity consumption to connecting remote areas and developing renewable energy.

Read more

Desert war, Bamako rumbles

Shaky peace negotiations in the north and growing Wahabii influence in the south suggest the government is increasingly out its depth

As the government and various northern-based rebels prepare to sign another 'final agreement' in Bamako on 20 June, alarm is growing about the deterioration of security across the...


Prosecuting the prosecutor

Some corruption cases could be dropped if the government succeeds in sacking its chief prosecutor Mutembo Nchito

Activists, oppositionists and now Western governments are alarmed at the Lusaka government's efforts to dismiss the suspended Director of Public Prosecutions, Mutembo Nchito. After his defenders claimed that...


Money worries

Deepening financial problems in the African National Congress could hamper its campaigning for next year’s local elections

The governing African National Congress is in such dire financial straits that it could not pay staff salaries at the end of May. So it is looking to...


Impeaching number one

Accident prone President Rajaonarimampianina’s problems may see ex-President Ravolamanana return to centre-stage

Eighteen months of political quarrels came to a head when Parliament voted on 26 May to impeach President Hery Rajaonarimampianina. Since he took office in January 2014, he...


The election gets messier

Two new alliances of opposition politicians are creating problems for President Ouattara's campaign

Once President Alassane Dramane Ouattara had announced last year that he would seek a second term, he was the clear favourite to win the election due this October,...


Hair shirts of the Atlantic

After 40 years of Independence and political change, the government is continuing the revolutionary tradition of low pay for its leaders

The idea was simple, attractive and at one with the socialist sensibilities of the country's liberators 40 years ago: the President would earn no more than, say, a...


How far to push Guebuza

Probes into the outgoing government's spending target Guebuza's allies and raise questions about the IMF’s standards of scrutiny

Factions within the governing Frente de Libertação de Moçambique differ on how far to take the investigations into the previous government's murky deals. Some want former President Armando...


CNC: who is who?

'Crabs in a bucket' is one of the descriptions used to describe the new alliance, the Coalition nationale pour le changement. Signatures under its founding charter include those...



Pointers

Win big, win all

The Ethiopian People's Revolutionary Democratic Front is set to become what its critics have long accused it of being: a government without an opposition. That is what the...