Month: November 2020

As part of encouraging and supporting the development of a strong private fertilizer sector in the sub-region, the ECOWAS Commission has met with members of the West Africa Fertilizer Association (WAFA) in Mali.

This is in line with commitment that the Commission made to facilitate the development of a winning partnership between WAFA and the ECOWAS Investment Bank (EBID) for the funding of private sector fertilizer in the sub-region.

According to Sekou Sangare, Commissioner for Agriculture, Environment and Water Resources, processing of the dossier is well advanced at EBID and as a matter of fact, the mandate between WAFA and the bank has already been signed.

The Bank’s Board of Directors had also given a go-ahead for the establishment of a line of credit of nearly $520million, of which this amount would help finance among others fertilizer import projects, the purchase of trucks and other equipment for logistics and transport, and the construction of storage facilities.

A statement by the ECOWAS Commission noted that the high interest aroused by the initiative among partners, such as Germany and the Arab Republic, Commissioner Sangare encouraged WAFA members in Mali to speed up preparation and submission of relevant and bankable projects to EBID for financing.

He again, reiterated the readiness of the ECOWAS Commission to support any initiative aimed at the development of the private fertilizer sector particularly, and that of other development sectors in general.

WAFA was established by the will of fertilizer sector players in the region to join forces to meet the fertilizers challenges back in December 2015, but the desire to unite goes way back.

It aims to promote access to availability, affordability, timing and efficient use of quality and appropriate fertilizers among the farming population of West Africa.

Kwaku Sakyi-Danso/Ghanamps.com

Community Parliament lawmakers from Nigeria boycotted a delocalized meeting on Wednesday, November 5, 2020 in the Republic of Benin, Cotonou where joint the Committees on Administration, Finance and Budget, Macroeconomic Police and Economic Research, Public Account, Trade Customs and Free Movement is ongoing.

The meeting examined the African Continental Free Trade Area (AfCFTA), Cross Border issues and trade challenges. Their absence however, did not impede the meeting.

The nine-member delegation from Nigeria included Mohammed Ali Ndume, Haruna Maitala Ibrahim, Saidu Alkali, Taiwo Musibau Kolawole, Emmanuel Bwacha, Michael C. Umeoji, Francis Alimikhena, Abdullahi Sankara Danladi and Murtala Isah.

There was no Nigerian present to contribute to issues discussed for the day, where every member country on the joint Committee gave critical views on progress on the sub-region.

Debate on the viability of implementing the agreement at the ECOWAS Parliament delocalized joint Committee meeting, however considered the readiness of the sub-region to make progress in this regard amid intervening variables like; currency difference, national consciousness among others.

The deliberation bothered on challenges, prospects of a borderless Africa in a period in time of terrorism and insecurity, pandemic and protectionism centered on underlying concerns that must be addressed before AfCFTA agreement can be implemented.

In addition, Community lawmakers wanted issues on fragmented market, difference in cross-border communication cost, daunting transportation system, effective settlement of disputes arising from commercial investment and business relations among others to be addressed by the agreement.

Secretary General of AfCFTA Wamkele Mene noted that the timely ratification of the agreement is a must; as it has a capacity of lifting thirty million people out of extreme poverty, sixty million from moderate poverty by 2035 and increase real income gain by 70 percent.

Inclusivity, shared benefits, growth and improved negotiations were also considered as major aspects of AfCFTA that parliamentarians will take up with National Assemblies of member states to enable them ratify the Free Trade agreement.

ECOWAS Commissioner for Trade, Customs and Free Movement, Tei Konzi noted that restriction on land border movement of goods is what is at stake and not people.

“The border closure in question is that of land borders of Nigeria; as soon as the Nigeria border closed, all countries on the Abidjan-Lagos corridor were affected. Nigeria was also affected within especially importers of raw materials”, he said.

Mr. Konzi further pointed out that, Nigeria complained mainly about trafficking and invasion of non-community smuggled rice through its borders as a cause of the destabilization of its agriculture policy and the country’s heavy investment in rice production.

Again, petroleum products were smuggled through the borders as it has become a matter of serious concern to member-states.

Kwaku Sakyi-Danso/Ghanamps.com

Speaker of the Economic Community of West African States (ECOWAS) Parliament, Rt. Honorable Sidie Mohamed Tunis has urged members of the sub-regional Community to take advantage of the benefits of establishment of the headquarters of the African Continental Free Trade Area (AFCFTA) in an ECOWAS zone.

He made this remarks on Tuesday, November 3, 2020 in the Republic of Benin when he opened a joint delocalized committee of the ECOWAS Parliament on the theme, “African Continental Free Trade Area. How feasible in the face of cross-border threats: Terrorism and Insecurity, pandemics, protectionism”.

According to him it is gratifying that the Government of the Republic of Ghana generously offered to build the headquarters of AFCTA, which demonstrates a strong affirmation of the vision of an integrated Africa.
“This provides an even greater opportunity to explore the possibilities of having a region that practices trade in a free and secure manner”.

“Notwithstanding the benefits of free trade, there are visible threats which stall progress and create stumbling blocks to investments that in turn affect commerce and employment. Among these are terrorism and insecurity which increase uncertainty and raise the cost of goods and services”.

He added that, terrorism slows the flow of goods and resources through ports due to greater inspections and safeguard, and divert government expenditures from more productive public investment to less productive security activities.

In addition to terrorism, he pointed that ongoing COVID-19 pandemic has also affected the implementation of the African Continental Free Trade Agreement.

And beyond its impact on human health, the pandemic has disrupted an interconnected world economy. Since the emergence of the pandemic, there has been an abrupt fall in commodity prices, fiscal revenues, foreign exchange receipts, foreign financial flows, travel restrictions, a decline in tourism and hotels, and so on.

Also, border closures have reduced economic activities, and there are predictions of recession across the continent, he noted.

Speaker Tunis further noted that what was at stake was the dignity and well-being of African farmers, workers, entrepreneurs, particularly women and the youth; as free trade promise prosperity for all Africans, especially West Africans as it provides the prospect for a production of a value-added goods and services and increase the income and better living conditions of the citizens of the community.

And was of the hope that the meeting would enlighten the Community lawmakers as well as provide them with sufficient resources on the prospects of implementing the agreement.

The ECOWAS Parliament will also be acquainted on the role it should play in mitigating challenges and facilitating the application of the African Continental Free Trade Agreement.

“I am optimistic that we will recover from the shackles of COVID-19 and our economies will grow stronger and better. The road to achieving this is not going to be smooth, but I am reminded of the great things we have achieved as a Community of People and I have no doubt, that this is achievable”.

Kwaku Sakyi-Danso/Ghanamps.com

ECOWAS Inter-parliamentary forum on ICT recognizes that cybercrime in its various forms especially those that are technology-assisted pose a serious threat to the economies, industry, commerce, banking and financial services sectors and their operations within the sub- region.

In one of its sessions where Economic and Financial issues of cybercrime was the major sub-theme, it was highlighted that cybercrime has become a serious economic threat in terms of its potential to negatively impact national and sub-regional economic development, intra-regional and external/international trade.

Also, it has the potential to disrupt and undermine the integrity and security of internal, intra-regional and external financial transactions, payment and settlement systems as well as provision of various financial services.

While rolling out effective ways to mitigate the above-mentioned problems and placing them in tandem with what the role of Parliamentarians should be, one of the panelists, Mary Uduma, President, MAG FGI Afrique Abuja, Nigeria, instructed lawmakers within the sub-region to, propose the development and enactment of appropriate national and sub-regional cybersecurity policies and implement strategies directed at addressing economic related and financial services cybercrime activities.

In addition, Parliamentarians must recognize the sub-regional, global and far-reaching nature of the legal, legislative, technological, economic, financial and institutional challenges and threats posed by the emergence and rise of cybercrime. In the same light, they have to take into account the role of all key stakeholders and existing initiatives, within a frame-work of regional cooperation in West Africa and beyond.

The ECOWAS Interparliamentary Forum on ICT is currently holding sessions under the theme: “Role of the Parliamentarian in the fight against cybercrime in the ECOWAS space”, from November, 5 to 7, 2020 in Niamey, Niger Republic.

Kwaku Sakyi-Danso/Ghanamps.com