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African Development Bank urges power sector to capitalize on women’s capabilities

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The African Development Bank Group (AfDB), in partnership with the French Development Agency, Association of Power Utilities of Africa and African Network of Centers of Excellence (ANCEE) organized a three-day seminar on “Promoting Gender Equality in the African Power Sector” at the Bank’s headquarters in Abidjan.

The seminar brought together 50 human resource directors from 50 power utility companies, eight Directors from ANCEE and other participants from more than 25 African countries to the Bank for the talks.

Participants shared best practices, raised awareness about the interlinkages between gender and the power sector and moved toward a consensus on advocacy for reform, policy implementation and regulations to ensure gender-equal access to energy services, as well as ways to increase women representation in the sector.

“Diversity is not only nice to have, there’s a business case for it. We strongly believe that, both in the public and private sector, we must have leadership bodies that reflect the societies they live in, for better, more sustainable, long term results,” Vanessa Moungar, Director of the Bank’s Gender, Women and Civil Society Department said at the seminar.

Participants highlighted the importance of developing a concerted approach to promoting gender equality in the workplace. These strategies aim to attract more women to the power sector, improve their career prospects and increase their access to management positions within utilities.

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“We expect women to not only be minor workers in the power sector but leaders, policy makers, renewable energy entrepreneurs, utility managers, employers of power plants and distribution systems, executives of private sector partners, and customers of electricity services, said Amadou Hott, Vice President for Power, energy, Climate Change and Green Growth.

Speaking at the opening session, Hott noted that the power sector needs to capitalize on women’s talents. Integrating gender in the power sector would create opportunities for women and strengthen the sector to support improved healthcare, education and entrepreneurial opportunities. This would propel socio-economic development across the Bank’s regional member countries, he added.

Women represent only 20 percent of employees in the African power sector and less than ten percent of engineers.

Basil Jones, Gender Programme and Policy Coordinator in the Bank’s Gender, Women and Civil Society Department, told attendees during the closing session that “Women are game changers in the economic sphere. Therefore, HR directors ought to develop gender policies and strategies to mainstream women in their various organizations. This way, we are taking giant steps to ensure the SDGs Goal 5 can be achieved.”

This workshop reflects the Bank’s commitment to strengthen its engagement with partner institutions to achieve gender equality in delivering the High 5 on “Light up and Power Africa” in its Regional Member Countries. The Bank collaborated with the AFD and APUA to provide over US$10 million grant for a three-year project to set up ANCEE. The aim of the project is to improve performance in the electricity sector and intensify regional trade by strengthening governance, technical and managerial skills.

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Ex-NCC Chair, Akande extols Senator Sarafadeen Ali on his 61st birthday

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Former Chairman of the Nigerian Communications Commission (NCC), Prof. Adeolu Akande, has extended warm felicitations to Barrister Sarafadeen Ali, the Senator representing Oyo South Senatorial district, on the occasion of his 61st birthday.

In a statement released on Saturday in Ibadan, the Oyo state capital, on Saturday, Akande lauded the lawmaker, describing him as a luminary whose life has been marked by distinguished service to the nation.

“Today, I join the world in celebrating you on your special day, as you mark 61 years of God’s abundant love and glorious impact on humanity,” the former NCC gaffer expressed.

He added, “I wish you many more years of God’s grace in your life.”

 

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Labour union protests Heritage Bank’s dismissal of 1,000 workers

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The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.

The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.

Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.

He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.

“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.

 

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Nigeria not using foreign reserves to defend naira, says CBN governor

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CBN governor

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.

Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.

While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.

Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.

He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”

Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.

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He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”

 

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