As the prevalence of Covid-19 accelerates across Africa, over 40% of the population in Sub-Saharan Africa do not have access to clean water and are unable to heed the advice of health experts to wash their hands as a primary way to stop the spread of the virus. Preventing infection thus remains out of reach for many.



Action in the Water, Sanitation and Hygiene sector, also known as WASH, is therefore critical to containing Covid-19. WASH’s core – providing access to clean water, improved sanitation systems and implementing healthy hygiene practices – lowers the infection rate and builds communities’ ability to ward off infectious disease outbreaks.



The African Development Bank’s guide on WASH interventions is currently helping our client governments in their Covid-19 preparedness and emergency response The guide supports the implementation of emergency WASH interventions at hotspots; utilities and service providers to enhance business continuity; hygiene promotion; improved viability of critical hygiene products and supply chains, as well as enhancement of sustainability of hygiene outcomes.



The Bank has been supporting and advocating WASH long before Covid-19’s arrival. Our investment of an estimated $6.4 billion in strengthening core WASH infrastructure systems over the last decade, has provided approximately 52 million additional people access to improved water, sanitation and hygiene as well as increased pandemic preparedness.



Over the next decade or so, our investments in the water sector are set to provide an estimated 154 million more people access to improved WASH.



Many of our established, on-the-ground WASH interventions have adapted to the coronavirus era, especially in resource-constrained settings.



In Zambia, school children recruited in early 2019 to be “WASH ambassadors” have since added the Covid-19-specific message of wearing masks, social distancing and implementing stay-at-home orders to their healthy hygiene and sanitation practices promotion campaign. Their campaign t-shirts, emblazoned with the slogan “Stop Spreading Germs, Wash Your Hands with Soap,” are just as applicable today as when they were designed pre-Covid, as part of a $243 million Lusaka Sanitation Program co-funded by the Bank and other development partners.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="863" height="1024" src="https://www.forbesafrica.com/wp-content/uploads/2020/08/Girl-in-Ofode-Kebele-village-washing-her-hands-at-the-public-water-kiosk-on-the-20th-of-March-2020-863x1024.jpg" alt="" class="wp-image-47384" srcset="https://cms.forbesafrica.com/wp-content/uploads/2020/08/Girl-in-Ofode-Kebele-village-washing-her-hands-at-the-public-water-kiosk-on-the-20th-of-March-2020-863x1024.jpg 863w, https://cms.forbesafrica.com/wp-content/uploads/2020/08/Girl-in-Ofode-Kebele-village-washing-her-hands-at-the-public-water-kiosk-on-the-20th-of-March-2020-scaled-300x356.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2020/08/Girl-in-Ofode-Kebele-village-washing-her-hands-at-the-public-water-kiosk-on-the-20th-of-March-2020-scaled-600x712.jpg 600w, https://cms.forbesafrica.com/wp-content/uploads/2020/08/Girl-in-Ofode-Kebele-village-washing-her-hands-at-the-public-water-kiosk-on-the-20th-of-March-2020-253x300.jpg 253w, https://cms.forbesafrica.com/wp-content/uploads/2020/08/Girl-in-Ofode-Kebele-village-washing-her-hands-at-the-public-water-kiosk-on-the-20th-of-March-2020-768x911.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2020/08/Girl-in-Ofode-Kebele-village-washing-her-hands-at-the-public-water-kiosk-on-the-20th-of-March-2020-1294x1536.jpg 1294w, https://cms.forbesafrica.com/wp-content/uploads/2020/08/Girl-in-Ofode-Kebele-village-washing-her-hands-at-the-public-water-kiosk-on-the-20th-of-March-2020-1726x2048.jpg 1726w" sizes="auto, (max-width: 863px) 100vw, 863px" /><figcaption>Girl in Ofode Kebele village washing her hands at a public water kiosk </figcaption></figure>



In rural northern Malawi, the Bank co-financed and supervised the Integrated Urban Water and Sanitation Project for the Mzimba Town project, which increased the community’s access to potable water from 65% to 95%, raised access to improved sanitation from 45% to 97% and created around 1,000 jobs.&nbsp;It comprised the construction of primary school sanitation facilities, including secured toilets to provide privacy and comfort to the pupils, especially girls.



School children are also serving as ambassadors to convey the message about preventing the Covid-19 pandemic from spreading into their homes and neighborhoods. This WASH project recently received the <a href="https://www.afdb.org/en/news-and-events/press-releases/malawi-african-development-bank-managed-water-and-sanitation-project-helping-curb-covid-19-wins-prince-talal-international-prize-human-development-35532">Prince Talal International Prize for Human Development. </a>The $200,000 in prize money will go to projects implemented by government agencies, public institutions or social businesses approved by the Mzimba Town scheme.



Investments in improved water and sanitation infrastructure is a public health priority for countries and communities as it significantly contributes to reduced mortality, ill health and impacts of water-related epidemics/pandemics which are a major economic drain.



Investing in WASH is a no-regret policy and decisions taken now to improve these public health systems are going to be worth it, regardless of the uncertainty around Covid-19.



– By Wambui Gichuri, Acting Vice President, Agriculture, Human and Social Development and Director, Water Development and Sanitation at the African Development Bank



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="576" height="1024" src="https://www.forbesafrica.com/wp-content/uploads/2020/08/AVPandDirectorGichuri-3.jpeg" alt="" class="wp-image-47385" srcset="https://cms.forbesafrica.com/wp-content/uploads/2020/08/AVPandDirectorGichuri-3.jpeg 576w, https://cms.forbesafrica.com/wp-content/uploads/2020/08/AVPandDirectorGichuri-3-300x533.jpeg 300w, https://cms.forbesafrica.com/wp-content/uploads/2020/08/AVPandDirectorGichuri-3-169x300.jpeg 169w" sizes="auto, (max-width: 576px) 100vw, 576px" /><figcaption>Wambui Gichuri</figcaption></figure>

Zambian school girls carry the message of sanitation on their t-shirts

African Water And Sanitation Projects Critical To Preparedness For Pandemics

By Akinwumi A. Adesina, President, African Development Bank.



We are in a battle against time to curb the COVID-19 pandemic. While tackling the Coronavirus pandemic has grabbed global attention, a new crisis that could claim a lot more lives is brewing in Africa: massive locust invasions.



Billions of desert locusts are ravaging countries all across East Africa, including Kenya, Somalia, Ethiopia, Sudan, South Sudan, Uganda, and Djibouti. It has been reported that their numbers are likely to increase by up to 400 times by June 2020, reaching crisis levels.



The Food and Agriculture Organization of the United Nations (FAO) has estimated that unless quickly controlled, 5 million additional people in East Africa will be hungry by June.



An unprecedented race against time has begun to urgently stop the progression and potentially devastating impact of the deadly twins: COVID-19 and the locusts for millions in Africa.



We all know that rains are good for crops. But then when good rains also caused favorable breeding environments for locusts, the joy of rains has suddenly turned hopes of expected plenty into glooms of hunger.&nbsp; Is the best of times becoming the worst of times?



Locust breeding populations have increased massively. The locust plague moves with devastating effects: imagine a carpet of locusts of up to 150 million locusts covering a square kilometer. And think about it, that they can consume crops in one day that can feed approximately 35,000 people. In East Africa, where FAO estimates that some 20 million people are already food insecure, the effects will be devastating.



The locust crisis emerges as the continent is dealing with the COVID-19 pandemic. These are tough odds to face.



Today, distressfully, choices for millions of the poor are oddly similar: to stay in confinement and escape dying from Coronavirus or dying from hunger staying at home.



It is already playing out. Food riots broke out a few days ago in Kibera, the largest slum in Kenya, as people trampled over each other, defying social distancing &#8211; prescribed to stem the spread of the Coronavirus &#8211; to get food. Coronavirus could kill, but hunger kills many more people.



With the lockdowns for the COVID-19 pandemic, pest control workers are largely unable to go out to spray. While restrictions have been lifted to allow aircrafts used to spray to operate, they can do little as they are largely unable to get access to the chemicals, due to disruption of supply chains.



It appears that those who escape the COVID-19 will soon face LOCUST-19. In East Africa alone, the number of hungry people could jump to 30 million people.



There are several lifesaving recommendations we can act on now. These include one, the creation of a &#8220;green channel&#8221; for the free flow of food and agricultural inputs and pesticides to control pest attacks. Two, putting in place measures to prevent food price hikes by releasing food from government grain reserves and implementing anti-hoarding policies. Three, rapidly scaling up food production technologies, including high-yielding, early-maturing, drought-tolerant, disease- and pest-resistant staple crops, and programs such as the African Development Bank’s flagship program, the Technologies for African Agricultural Transformation (TAAT) initiative.



The good news is that the African Development Bank has joined the FAO as the frontrunners in this unprecedented race against time. The Bank has just approved a $1.5 million grant to the Intergovernmental Authority on Development (IGAD) and the FAO to support efforts to spray against the locusts and safeguard livelihoods in the East and the Horn of Africa. More help will be needed.



The last thing Africa needs now, as we are battling with the COVID-19 pandemic, is a hunger pandemic.



COVID-19 has taken the international community on an unpredictable journey. Thankfully, we can preclude and halt the locust crisis. For that to happen, we all must rally around the FAO to provide the $153 million needed.



COVID-19 cannot be followed by LOCUST-19.

PRST Adesina

Op-Ed: Why Africa Cannot Afford LOCUST-19

Abidjan, Côte d&#8217;Ivoire, 8 April 2020 –&nbsp;The African Development Bank Group on Wednesday announced the creation of the COVID-19 Response Facility to assist regional member countries in fighting the pandemic.



The Facility is the latest measure taken by the Bank to respond to the pandemic and will be the institution&#8217;s primary channel for its efforts to address the crisis. It provides up to $10 billion to governments and the private sector.



Akinwumi Adesina, President of the African Development Bank Group, said the package took into account the fiscal challenges that many African countries are facing.



&#8220;Africa is facing enormous fiscal challenges to respond to the coronavirus pandemic effectively. The African Development Bank Group is deploying its full weight of emergency response support to assist Africa at this critical time. We must protect lives. This Facility will help African countries to fast-track their efforts to contain the rapid spread of COVID-19,&#8221; Adesina said, commending the Board of Directors for its unwavering support.



The Facility entails $5.5 billion for sovereign operations in African Development Bank countries, and $3.1 billion for sovereign and regional operations for countries under the African Development Fund, the Bank Group&#8217;s concessional arm that caters to fragile countries. An additional $1.35 billion will be devoted to private sector operations.



Commenting on the Facility, Acting Senior Vice-President Swazi Tshabalala said: &#8220;The setting up of the Facility required a collective effort and courage by all our staff, Board of Directors and our shareholders.&#8221;



Two weeks ago, the Bank launched a record-breaking $3 billion Fight COVID-19 Social Bond, the world&#8217;s largest US dollar-denominated social bond ever on the international capital market. Last week, the Board of Directors also approved a $2 million grant for the World Health Organization for its efforts on the continent.&nbsp;



&#8220;These are extraordinary times, and we must take bold and decisive actions to save and protect millions of lives in Africa. We are in a race to save lives. No country will be left behind,&#8221; Adesina said.



Press Release provided by the AfDB Group.

Afdb

AfDB Unveils $10 Billion Response Facility To Curb COVID-19

Landmark transaction, largest Social bond transaction to date in capital markets



Abidjan, Côte d&#8217;Ivoire, 27 March 2020 &#8211; The African Development Bank (AAA) has raised an exceptional $3 billion in a three-year bond to help alleviate the economic and social impact the Covid-19 pandemic will have on livelihoods and Africa’s economies.  



The Fight Covid-19
Social bond, with a three-year maturity, garnered interest from central banks
and official institutions, bank treasuries, and asset managers including
Socially Responsible Investors, with bids exceeding $4.6 billion. This is the
largest Social Bond ever launched in international capital markets to date, and
the largest US Dollar benchmark ever issued by the Bank. It will pay an
interest rate of 0.75%. 



The African
Development Bank Group is moving to provide flexible responses aimed at
lessening the severe economic and social impact of this pandemic on its
regional member countries and Africa’s private sector.



“These
are critical times for Africa as it addresses the challenges resulting from the
Coronavirus. The African Development Bank is taking bold measures to support
African countries. This $3 billion Covid-19 bond issuance is the first part of
our comprehensive response that will soon be announced. This is indeed the
largest social bond transaction to date in capital markets. We are here for
Africa, and we will provide significant rapid support for countries,” said
Dr.&nbsp;Akinwumi Adesina,&nbsp;President of the African Development Bank Group.



The order book
for this record-breaking bond highlights the scale of investor support, which
the African Development Bank enjoys, said the arrangers.



“As the Covid-19
outbreak is dangerously threatening Africa, the African Development Bank lives
up to its huge responsibilities and deploys funds to assist and prepare the
African population, through the financing of access to health and to all other
essential goods, services and infrastructure,” said Tanguy Claquin, Head of
Sustainable Banking, Crédit Agricole CIB.



Coronavirus
cases were slow to arrive in Africa, but the virus is spreading quickly and has
infected nearly 3,000 people across 45 countries, placing strain on already
fragile health systems.&nbsp;



It is estimated
that the continent will require many billions of dollars to cushion the impact
of the disease as many countries scrambled contingency measures, including
commercial lockdowns in desperate efforts to contain it. Globally, factories
have been closed and workers sent home, disrupting supply chains, trade,
travel, and driving many economies toward recession.&nbsp;



Commenting on
the landmark transaction, George Sager, Executive Director, SSA Syndicate,
Goldman Sachs said: “In a time of unprecedented market volatility, the African
Development Bank has been able to brave the capital markets in order to secure
invaluable funding to help the efforts of the African



continent&#8217;s
fight against Covid-19. Not only that, but in the process, delivering their
largest ever USD benchmark. A truly remarkable outcome both in terms of its
purpose but also in terms of a USD financing”.



The Bank
established its Social Bond framework in 2017 and raised the equivalent of &nbsp;$2 billion through issuances denominated in
Euro and Norwegian krone. In 2018 the Bank was designated by financial markets,
‘Second most impressive social or sustainability bond issuer” at the Global
Capital SRI Awards.



“We are thankful
for the exceptional level of interest the Fight Covid-19 Social Bond has raised
across the world, as the African Development Bank moves towards lessening the
social and economic impact of the pandemic on a continent already severely constrained.
Our Social bond program enables us to highlight our strong development mandate
to the investor community, allowing them to play a part in improving the lives
of the people of Africa. This was an exceptional outcome for an exceptional
cause,” said Hassatou Diop N’Sele, Treasurer, African Development Bank.



Fight Covid-19 was allocated to central banks and official institutions (53%), bank treasuries (27%) and asset managers (20%). Final bond distribution statistics were as follows: Europe (37%), Americas (36%), Asia (17%) Africa (8%,) and Middle-East (1%).



Press Release by the African Development Bank

gettyimages-488744010-594×594

What You Need To Know About AfDB’s $3 billion “Fight COVID-19” Social Bond

“There is no greater asset to Africa than its youth,” a statement that has been repeatedly proclaimed, but the continent still has a long way to go. Despite robust economic growth over the past two decades, a 1 percent increase in growth between 2000–14 was associated with only 0.41 percent growth in employment. This figure suggests that employment stood at less than 1.8 percent a year, far below the nearly 3 percent annual growth in the labor force. If this trend continues, 100 million people will join the multitudes of the unemployed in Africa by 2030.



With this in mind, researchers, youth representatives, business leaders,
and policymakers have joined over 350 stakeholders in Sharm El Sheikh, Egypt,
to significantly move the needle on youth empowerment.&nbsp; 



The annual African Economic Conference (AEC), is jointly
organized by the African Development Bank, the Economic Commission for Africa
and the United Nations Development Programme, to discuss pertinent issues
affecting the continent. 



The 2019 AEC is held in Egypt and hosted by the
Bank on the theme; “Jobs, entrepreneurship and capacity development for African
youth” and runs from 2-4 December.



Turning the youth bulge into opportunities has been
the focus of the African Development Bank’s game-changing approach to job
creation, entrepreneurship, and capacity development. In recognition of the crucial
role that entrepreneurship plays in the creation of high-quality jobs, the Bank
developed its Jobs for Youth in Africa (JfYA) Strategy&nbsp;(2016-2025). The
Strategy aims to create 25 million jobs for African youth over the next decade as
well as equipping 50 million youth with a mix of hard and soft skills to
increase their employability and their entrepreneurial success rate. 



The impact is already being felt. Since its launch
in 2016, over $20 billion has been invested by the Bank across 318 projects.
These investments are directly making a difference in the African youth skills,
entrepreneurship, business development, and job creation.



In parallel and working closely with its partners,
the Bank is helping strengthen entrepreneurship ecosystems in Africa. &nbsp;The flagship Youth Entrepreneurship and
Innovation Multi-Donor Trust Fund&nbsp;(YEI MDTF) program provides&nbsp;interventions
that equip the African youth, women-led start-ups, and micro, small, and medium
enterprises (MSMEs) with skills and financial support to run bankable
businesses. 



The program also assists regional member countries (RMCs)
in their implementation of economic and social reforms toward job creation. 



In just one short year, the Trust Fund’s resources leapfrogged
from USD4.4 million (in 2017) to almost USD40 million (in 2018). By providing
technical assistance through enterprise support organizations and financial
institutions, the Fund is anticipated to reach more than 480 youth-led startups
in Ghana, Mali, Nigeria, Togo, and Zimbabwe.



The Bank has also been very active on the education
front, supporting higher education institutions to deliver innovative training
curricula that are adapted to the changing demand of the labor market and the private
sector. &nbsp;Academic incubators—also known
as innovation centers of excellence, have been established. 



One great example of success is the &nbsp;African Institutions of Science and Technology
(AIST) Program, whose mission is to deliver quality postgraduate education and
build collaborative research capacity in various fields of Science,
Engineering, Technology and Innovation (SETI). With funding from the Bank, a
total of 1,477 PhD and MSc students have graduated, out of which 676 are women.
Additionally, a total of 35 partnerships have been brokered with the private
sector to enhance the quality and relevance of research.



Technical and Vocational Education and Training (TVET) has
also been acknowledged by the Bank as one of the main drivers of human capital
development alongside enhanced basic education that generates knowledge and
skills more broadly. As such, the Bank’s TVET project in Tanzania, has bolstered
TVET and teacher education with an investment amounting to $52 million. The
expected outputs include expanded infrastructure of 13 institutions targeting
about 8,000 trainees, expanded and extensive use of ICT in instruction at 53
institutions, and increased capacity for teaching, policy formulation, planning,
and quality assurance.



The insights and thoughts provided by other African
stakeholders, youth representatives, and political leaders on the debate on
youth jobs, skills, and entrepreneurship capacities during the AEC 2019 are
immensely important in helping the continent move forward. 



Now, more than ever, we must listen to the voices of the African youth.



&#8211; Hanan Morsy, Director, Macroeconomic Forecasting and Research at the African Development Bank Group.

WhatsApp Image 2019-11-30 at 07.51.13

Op-Ed: Fostering Jobs, Entrepreneurship, And Capacity Development For African Youth: The Time For Disruption Is Now!

Photo by: Kelechi Amadi-Obi (www.kelechiamadiobi.com)

Africa’s Mr Development

Press Release
➢ WITH “ROOM2RUN,” AfDB LAUNCHES SECURITIZATION MARKET FOR MULTILATERAL 
DEVELOPMENT BANK SECTOR 
➢ TRANSACTION IS IN DIRECT RESPONSE TO G20 ACTION PLAN FOR MDB BALANCE SHEET OPTIMIZATION 
➢ AfDB COMMITS TO REINVEST FREED UP CAPITAL INTO NEW AFRICAN INFRASTRUCTURE 
LENDING, MAKING ROOM2RUN ONE OF THE LARGEST IMPACT INVESTMENTS EVER 
➢ TRANSACTION IS SUPPORTED BY NEW EUROPEAN UNION GUARANTEE TOOL (EUROPEAN FUND FOR SUSTAINABLE DEVELOPMENT)
OTTAWA, Canada, 18 September 2018 — The African Development Bank (AfDB), the European Commission, Mariner Investment Group, LLC (Mariner), Africa50, and Mizuho International plc today announce the pricing of Room2Run, a US $1 billion synthetic securitization corresponding to a portfolio of seasoned pan-African credit risk. Room2Run is the first-ever portfolio synthetic securitization between a Multi-Lateral Development Bank (MDB) and private sector investors, pioneering the use of securitization and credit risk transfer technology to a new and previously unexplored segment of the financial markets.
Structured as a synthetic securitization by Mizuho International, Room2Run transfers the mezzanine credit risk on a portfolio of approximately 50 loans from among the African Development Bank’s nonsovereign lending book, including power, transportation, financial sector, and manufacturing assets. The portfolio spans the African continent, with exposure to borrowers in North Africa, West Africa, Central Africa, East Africa, and Southern Africa. Mariner, the global alternative asset manager and a majority owned subsidiary of ORIX USA, is the lead investor in the transaction through its International Infrastructure Finance Company II fund (“IIFC II”). Africa50, the pan-African infrastructure investment platform, is investing alongside Mariner in the private sector tranche. Additional credit protection is being provided by the European Commission’s European Fund for Sustainable Development in the form of a senior mezzanine guarantee.
“Room2Run gives us fresh resources to invest in the projects Africans need most,” said Akinwumi Adesina, President of the African Development Bank Group. “Africa has the most promise, the greatest natural resources, and the world’s youngest population. But we also have the world’s most persistent infrastructure deficits. The African Development Bank has the strategy to address these infrastructure finance gaps—and Room2Run gives us the capacity to make it happen.”
Structured as an impact investment, Room2Run is designed to enable the African Development Bank to increase lending in support of its mission to spur sustainable economic development and social progress. In connection with Room2Run, AfDB has committed to redeploy the freed-up capital into renewable energy projects in Sub-Saharan Africa, including projects in low income and fragile countries.
“On the Impact scale, Room2Run is off the charts,” said Dr. Andrew Hohns, Lead Portfolio Manager and head of the Mariner Infrastructure Investment Management team. “Room2Run answers the call of the G20 for private sector participants to step in and facilitate development finance, providing a template for attracting significant private sector capital into urgently needed projects in developing economies.”
Raza Hasnani, Head of Infrastructure Investment at Africa50 commented, “Room2Run provides an innovative and commercially viable solution to the African Development Bank’s risk management and lending objectives, while paving the way for commercial investors to support and benefit from the growth of infrastructure on the continent. Africa50 is very pleased to participate in this landmark transaction, which is in line with our mandate to drive increased investment in infrastructure in Africa, and to create pathways for long-term institutional capital to flow into this space.”
Room2Run enjoys the support and participation of the European Commission with an investment from the European Fund for Sustainable Development, in the form of a senior mezzanine guarantee. “Only a few days after announcing our renewed Alliance with Africa for sustainable investments and jobs, I am very happy to announce that we are, together with the African Development Bank, launching Room2Run,” commented Neven Mimica, the European Commissioner for International Cooperation and Development. “This initiative is a perfect example of what we are doing to support investments in African low income and fragile countries through the External Investment Plan. Through Room2Run we provide 
an additional protection to investments in the field of renewable energy. Through our Guarantee, investments under Room2Run will translate into extending supply to many people currently without electricity whilst creating much-needed new jobs.”
Room2Run also directly responds to calls by the G20 that MDBs use their existing resources to full capacity, as articulated in the 2015 G20 MDB Action Plan to Optimize Balance Sheets, as well as calls for greater MDB efforts to crowd-in private investment. The G20 has called on MDBs to share risk in their non-sovereign operations with private investors, including through structured finance, mezzanine financing, credit guarantee programs, and hedging structures.
The Government of Canada has been a global leader in advocating for MDBs to use their existing resources more efficiently and to mobilize private capital for global development. The goal of the G20 MDB Action Plan to Optimize Balance Sheets is to catalyze significant new development financing from the MDBs throughout the real economy in key development regions. “Attracting more private capital into global development efforts is critical to building economies that work for more and more people around the world,” said Bill Morneau, Canada’s Minister of Finance, “that’s why Canada and our G20 partners have been calling on multilateral development banks to use their existing resources as efficiently as possible, and to look for new ways to attract more private capital. We are pleased to see the African Development Bank come forward with a transaction that directly responds to both of these objectives. Room2Run is an innovative solution to a long-standing challenge.”
Juan Carlos Martorell, Co-Head of Structured Solutions at Mizuho International, adds, “Compared to other synthetic securitizations, a major achievement of Room2Run has been to ensure that ratings agencies, and in particular S&amp;P, reflect the merits of the risk transfer into their rating assessments for multilateral development banks. AfDB’s leadership through this transaction has now set the stage for broader adoption of the instrument throughout the MDB community.”

21st World Energy Congress Meeting In Montreal

With “Room2Run,” AfDB Launches Securitisation Market For Multilateral Development Bank Sector

Sheila Khama, Director of the Africa Natural Resources Centre at the African Development Bank (AfDB), has over 20 years of experience in Africa’s extractive industry. Besides serving as CEO of De Beers in Botswana, she worked as the compliance officer for 20 subsidiaries of Anglo American Corporation in Botswana.
The glass ceiling, however, is not confined to mining, she says, nor to Africa.
“Mining is no different from other industries, including the financial sector,” Khama explains, referring to various reports around the issue of African women at the corporate helm.
“Africa’s mining industry, in addition, is not very different from mining sectors elsewhere in the world. When looking at the world’s largest extractive corporations, you will find that only one – Anglo American – has ever been headed by a woman, namely Cynthia Blum Carroll,” says Khama.
Whilst she acknowledges a shortage of female top mining executives, Khama says this can’t just be blamed on the sector. In her view, it’s a symptom of society’s inability and unwillingness to grab the issue of gender transformation by the horns.
“The mining landscape can’t change faster than society does. Take the issue of education and what is expected of women. From what I know, more and more African girls are enrolling at primary and high school level, and many of them are outperforming boys,” she says.
“At university level, however, the number of African female students declines. This figure drops even further when girls are about to enter the working world, mainly because of societal pressures to get married and raise children.
“The mining sector can’t change these things. Like other sectors, we also depend on the willingness of society to release women from traditional roles and allow them to excel and break through the glass ceiling.”
That doesn’t mean mining companies should sit back. They certainly have a role in attracting and retaining women, and grooming them to become directors and executives.
“Companies should in fact profile and appoint women to strategic positions, draw up internal policies that deal with gender transformation, and use those policies to deploy women at the top and set other female employees up for success,” says Khama, adding this should not be a token.
“If gender transformation is a token, it has no future. It has to be embedded in a company’s business logic. Women need to be seen as an economic asset… They bring crucial skills to the table, skills as relevant in the mining pit and processing plant as in the boardroom.”

IMG_0201

‘As Relevant In The Mining Pit As The Boardroom’

Almost two decades since the ground-breaking Beijing Women’s Conference, no country in the world can claim gender equality. As the United Nations Under Secretary-General Phumzile Mlambo-Ngcuka notes, giving women equal opportunity and removing economic structural barriers, will spur inclusive growth. This view is echoed by prominent economists, such as the African Development Bank’s (AfDB) Mthuli Ncube and AGH Capital’s Charles Okeahalam, who say studies show that providing economic opportunity to the other half will without doubt lift growth.
“As with most issues of social transformation, reducing gender inequality is a process, not an event. The key issue is for society to distribute inputs and resources in a way that allows for a full set of economic and social opportunities to be more gender neutral. In Africa, this would lead, as it has done in a number of more industrially advanced societies, to an increase in the opportunity cost of maternity,” says Okeahalam. Yet women remain largely marginalized. According to the WEF’s 2013 Global Gender Gap Report, there are no African countries in the top 10 economies that have closed their gender gaps in the main categories of education, health, economy and politics. Lesotho and South Africa are the best placed, at number 16 and 17 respectively. Overall, the region closed 66% of its gender gap last year, though in education, the continent holds last place.
The 2014 report will be released at this year’s WEF, to be held in Abuja, Nigeria, from May 7 to 9. Women’s issues will be addressed in various other forums around the gathering, says Huguette Umutoni, WEF Africa Team Co-ordinator.
“We are looking to have women’s issues as a common thread for many of our sessions be it around jobs, entrepreneurship, agriculture, peace and security,’’ says Umutoni.
Femmes Africa Solidarité’s Bineta Diop, recently appointed the Africa Union Commission’s special envoy for Women, Peace and Security, will be one of the co-chairs of the Abuja summit. There will also be two other sessions focusing on female leaders.The forum’s efforts are part of a broader struggle to increase women’s participation in the continent’s development. AfDB’s 2014-2018 gender strategy is closely linked to its 10-year strategy, which promotes inclusive growth.
“Investing in women and girls is smart economics and impacts everyone positively,’’ says Geraldine Fraser-Moleketi, the AfDB’s special envoy on gender.
The statistics certainly make for some sad reading. A fifth of Africa’s women have bank accounts and the United Nations Development Program says the continent has suffered a 60% loss in development because of gender inequality.
African women and girls are among the world’s poorest, have the highest illiteracy rates, earn amongst the lowest wages and even in agriculture, where women dominate, productivity is 30% lower than men because of lack of access to inputs, according to the AfDB. Klaus Schwab, the Executive Chairman of the WEF, says it is everybody’s responsibility – governments, civil society, educators and media – to provide policy frameworks and the environment to empower women.
“There is not one path to parity, but many. Cash transfer programs, equal access to credit and financial services, parental leave, affordable childcare facilities, innovative hiring processes, redesigned career paths and meaningful mentoring programs are but a few of the types of changes that  must be made,’ says Schwab in the 2013 Global Gender Gap Report.
African governments have also been making strides. In March, South Africa’s parliament passed a gender bill that criminalizes discrimination against women and seeks to improve their access to education, training and skills development. But across the continent, the absence of statistics and lack of gender mainstream planning means more remains to be done.

Tag: AfDB

FORBES AFRICA SOCIAL MEDIA