Connect with us

News

AfDB, Big Win Philanthropy, Dangote Foundation launch ambitious plan to improve child nutrition, fight stunting

Published

on

Working with Big Win Philanthropy and Aliko Dangote Foundation, the African Development Bank has unveiled a new Multi-Sectoral Nutrition Action Plan that aims at raising investments towards reducing stunting by 40% in African children aged under 5 by 2025.

Africa loses $25 billion per year in costs attributed to child morbidity and mortality, impaired cognitive, physical, and economic development caused by malnutrition. Yet these losses are almost entirely preventable.

The ambitious Action Plan is looking for additional support and commitments from governments for nutrition.

Jennifer Blanke, Vice-President, Agriculture, Human and Social Development at the African Development Bank, stressed the importance of engaging energetically and substantially with the private sector, “if we want to achieve long-lasting results.”

Through the Multi-Sectoral Nutrition Action Plan  the Bank commits to scale up the proportion of investments that are ‘nutrition-smart’ in agriculture, water, sanitation and hygiene, social and health sectors.

“In terms of human development, nutrition is as important as investments in infrastructure and power in stimulating economic growth. Big Win Philanthropy is thrilled with President Adesina’s leadership in giving greater priority to nutrition and the wider human capital investment agenda,” said Jamie Cooper, Chair and President, Big Win Philanthropy.

“By leveraging investments across five sectors, and encouraging its member countries to do the same, the African Development Bank is achieving ‘double wins’ for every dollar spent: improving lives and generating economic growth.”

ALSO READ  Tears as slain UI Don, Ajewole is buried in Ibadan

Nutrition is inextricably linked to the Bank’s High 5 priorities: nutrition-smart investments could be catalytic for realizing equitable growth agenda.

Speaking at the launch, Chief Executive Officer of Dangote Foundation, Zouera Youssoufou, said, “We know we cannot do this by ourselves, so it made sense to put money at the African Development Bank to develop this nutrition strategy. We are really happy to see the strategy come together following a two-year journey.”

In 2017, more than a third of the world’s stunted children under the age of five lived in Africa with stunting rates ranging from 35.6% in East Africa to 32.1%, 29.9%, 29.1%, and 17.3% in Central Africa, West Africa, Southern Africa and Northern Africa respectively, according to the Plan, which also revealed that Africa is the only region in the world where the number of stunted children has risen in the past few years.

The Plan will focus on integrating nutrition smart interventions into projects in the Bank’s extensive agriculture pipeline. The Bank’s Feed Africa Strategy executes the Comprehensive Africa Agriculture Development Programme (CAADP) goals of contributing to elimination of extreme hunger, malnutrition, and poverty. In addition to improved productivity, the Action Plan looks into the potential to nourish Africa, by including commodity value chains that offer broad-based nutrition value, instead of just calories.

ALSO READ  13 Killed, 56 houses burnt, as bandits attack 3 LGAs in Kaduna

This will include leveraging flagship initiatives including Technologies for African Agricultural Transformation (TAAT), the Staple Crop Processing Zones Programme, and Integrated Agro-Industrial Parks.

To realise its human and economic potential, Africa must invest in nutrition – particularly during the 1,000 days between conception and the age of two – as a crucial foundation for productivity later in life, said Oley Dibba-Wadda, the Bank’s Director Human Capital, Youth and Skills Development Department.

“The African continent has the potential to become a powerhouse of productivity in the 21st century but cannot sustain rates of economic growth and at the same time integrate its burgeoning youth population without addressing these high rates of stunting.”

The Bank is strengthening political engagement and building partnerships by enlisting Heads of State, ministers, and eminent leaders as champions to spur and build a high-level political movement and leadership for nutrition, known as the African Leaders for Nutrition (ALN), which was endorsed by the Assembly of Heads of State and Governments of the African Union (AU) at the 30th Ordinary AU Summit, held in Addis Ababa, Ethiopia on 31 January 2018.

Comments

News

Senate Approves Tinubu’s $500m Loan for Power Sector Boost

Published

on

By

The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

ALSO READ  Evaluating Sanwo-Olu's leadership style

 

Continue Reading

News

Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

Published

on

By

In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

ALSO READ  Ekiti workers warned to desist from politics

Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

Continue Reading

News

EFCC calls on banks’ compliance officers to uphold confidentiality

Published

on

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

ALSO READ  Suspected cocaine trafficker arrested at Lagos airport
Continue Reading
Advertisement

Tweets by ‎@megaiconmagg

Subscribe to our Newsletter

* indicates required

MegaIcon Magazine Facebook Page

Advertisement

MEGAICON TV

Trending