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Pfizer appoints new president for Africa, Middle East

Jimoh Peters
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Pfizer appoints new president for Africa, Middle East

Pfizer has announced the appointment of Patrick van der Loo as Regional President for Africa and the Middle East.

Loo’s Pfizer experience spans more than 20 years in leadership roles with multiple successes across geographies.

In his new role, Loo will lead commercial operations to bring scientific breakthroughs in vaccines, oncology, rare diseases, internal medicine, hospitals, and inflammation & immunology, to serve patients.

Commenting on his appointment, he said, “This year has made me even more grateful and proud to be part of Pfizer. The global pandemic has accentuated our purpose as a company and reinforced our commitment to patients and communities worldwide.

“AfME is home to some of the world’s fastest-growing markets with increasing demand for innovative health treatments and services. Overall, the region has shown remarkable resilience due to strong leadership and sound policies.”

In his previous role, Loo served as the Developed Asia Cluster lead and general manager for Pfizer’s Hospital Business Unit, responsible for leading and executing Pfizer’s commercial and cultural strategy in Japan, Korea, Australia, and New Zealand. Before this role, he worked as the Emerging Asia Cluster lead for the Pfizer Essential Health business.

Prince Charles launches charter, ‘terra carta’

Jimoh Peters
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Prince Charles launches charter, ‘terra carta’

The Prince of Wales, Prince Charles, has unveiled the Terra Carta (Earth Charter), which provides a roadmap to 2030 for businesses to move towards an ambitious and sustainable future.

Speaking at the One Planet Summit in Paris, Charles made an urgent appeal to private sector leaders around the world to join this endeavour and to give their support to the Terra Carta.

“Today, I am making an urgent appeal to leaders, from all sectors and from around the world to give their support to this ‘Terra Carta’ – to bring prosperity into harmony with nature, people and planet over the coming decade.  I can only encourage, in particular, those in industry and finance to provide practical leadership to this common project, as only they are able to mobilize the innovation, scale and resources that are required to transform our global economy.

“The ‘Terra Carta’ offers the basis of a recovery plan that puts nature, people and planet at the heart of global value creation – one that will harness the precious, irreplaceable power of nature combined with the transformative innovation and resources of the private sector.”

Welcoming the launch of the Terra Carta, Chief Executive Officer of Bank of America, Brian Moynihan, said, “The Terra Carta is a comprehensive roadmap for the private sector to help drive toward a sustainable future.

“By integrating sustainability into our operating models the private sector can marshal the resources that will be needed to reach the climate, biodiversity and development goals. Prince of Wales’s leadership and commitment has created a spirit of possibility that business leaders are proud to join.”

AfDB president named Great Green Wall champion

Jimoh Peters
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AfDB president named Great Green Wall champion

African Development Bank’s President, Akinwumi Adesina, has been announced as a champion of Africa’s Great Green Wall initiative.

The appointment was made at a forum held in the margins of the One Planet Summit 2021 to mobilise support for the ambitious project to plant an 8,000km swathe of trees and other vegetation across the Sahara and Sahel regions of Africa.

The green wall will act as a barrier against desertification and aims to create over 10 million green jobs in the region.

“I would also like to welcome the commitment of Dr. Adesina, President of the African Development Bank, who has agreed to take on the role of resource mobilisation champion and help raise, by 2030, all the necessary funds for the realisation of the Great Green Wall,” French President, Emmanuel Macron, told participants.

In the role of champion, Adesina will lead the mobilisation of political and economic support for the initiative.

Increased cyber crime expected in Nigeria, says Kaspersky

Jimoh Peters
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Increased cyber crime expected in Nigeria, says Kaspersky

Kaspersky experts say they expect growing economic turbulence along with the impact of COVID-19 to contribute to an increase in cyber crime across South Africa, Kenya, and Nigeria this year.

“Even though every country globally has had to deal with the pandemic in its own way, developing economies across Africa have been especially hard hit by national lockdowns and limited business activity. And thanks to the increased connectedness of people, the rise in unemployment will not only see a spike in traditional crime, but this will also extend to the digital environment – something we are already seeing,” said Enterprise Cyber Security Adviser for Kaspersky in Africa, Lehan van den Heever.

According to Kaspersky, while the increase in these crimes will vary by country, African nations must prepare themselves for the inevitability of increases in malware that already topped 28m by August last year.

Heever added, “Businesses are under pressure to differentiate themselves in a highly competitive market as they struggle to survive these trying times, amplified further by the effects of COVID-19.

“The current landscape will likely lead to bankruptcy and an increase in legal disputes in court. This makes an ideal breeding ground for these malicious groups to operate in. And although such activity has not been rife in Africa yet, the region is not immune to this cyber threat.”

2021 will be critical in fighting COVID-19, climate – Guterres

Jimoh Peters
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2021 will be critical in fighting COVID-19, climate – Guterres

African Development Bank’s President, Akinwumi Adesina, on Monday joined world leaders to discuss the global transition to clean power as part of a green recovery and identify actions that can be taken to support this.

The virtual COP26 Roundtable on Clean Power Transition, themed, ‘Achieving a rapid shift to green, affordable and resilient power systems,’ was held amid growing recognition that climate change remains one of the greatest challenges facing humanity.

Participants included United Nations Secretary General, António Guterres, COP26 President, Alok Sharma, the United Kingdom Foreign Secretary, Dominic Raab, Italian Minister of Foreign Affairs, Luigi Di Maio, and representatives from governments, multilateral development banks, the private sector and international organisations.

Guterres said 2021 would be critical “not only in beating the COVID-19 pandemic but in meeting the climate challenge,” adding that African countries in particular are vulnerable and renewed his call for developed nations to fulfill their longstanding pledge to provide $100bn a year for developing countries to support both climate mitigation and adaptation.

“Huge amounts of money have been earmarked for the COVID-19 recovery and stimulus measures. But sustainable investments are still not being prioritised,” Guterres said.

“We must invest in the future of affordable renewable energy for all people, everywhere.”

Kuwait’s Al-Sumait prize calls for nominations

Ehime Alex
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Kuwait’s Al-Sumait prize calls for nominations

Kuwait’s Al-Sumait Prize for African Development has called for nominations for its 2021 award in the health category.

Kuwait Foundation for the Advancement of Sciences made this known in a statement on Monday.

It said the Al-Sumait Prize in the health category was open to individuals and organisations delivering pioneering and high-impact contributions to solving health challenges in Africa.

The foundation explained the award was with a special focus in the 2021 cycle on the utilisation of effective frameworks and programmes to resolve and manage health crises such as COVID-19 and infectious zoonotic diseases.

Director General of KFAS, Dr. Adnan Shihab-Eldin, said, “The 2021 prize recognizes individuals and institutions who contributed in substantial ways to improvements within the field of health, including developing health care systems on the continent, especially for the underprivileged.”

KFAS noted that the prize awarded $6m over the last five years dedicated to various sectors.

Commenting on the prominence of the prize, a member of Al-Sumait Board of Trustees, Dr. Daniel Gustafson, said, “The Al-Sumait Prize is unique and vital in the way it calls attention to the innovations and the dedication of outstanding individuals and institutions who have contributed to the development of food security, education and health in Africa.

“The integrity and care that goes into the selection process facilitates this recognition, not only for the annual winners, but for every nominee who makes it through the screening process.”

Initiated in 2013, the prize is designed to reward innovative and inspiring initiatives and research by individuals and organisations that address the challenges facing the Africa.

AfDB supports ‘Great Green Wall’ initiative with $6.5bn

Ehime Alex
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AfDB supports ‘Great Green Wall’ initiative with $6.5bn

The African Development Bank will support the Great Green Wall initiative with $6.5bn over the next five years.

AfDB’s President, Akinwumi Adesina, disclosed this at the One Planet Summit on Monday.

According to him, the initiative was part of Africa’s environmental defence system, “a shield against the onslaughts of desertification and degradation.”

He said, “I am, therefore, pleased to announce that the African Development Bank will mobilise $6.5bn in support of the Great Green Wall over the next five years.

“Without the Great Green Wall, in the face of climate change and desertification, the Sahel may disappear. By building the Great Green Wall, we will secure the Sahel, reduce climate change, reduce migration and improve the lives of people.”

Adesina stressed that the project would contribute to the integration of people on the continent and globally.

The $6.5bn would be made available through a range of programmes by drawing on internal as well as external sources of funding, he hinted.

The Great Green Wall or Great Green Wall of the Sahara and the Sahel is Africa’s flagship initiative to combat desertification, led by the African Union.

The plan is to plant an 8,000 kilometre-long and 15km-wide mosaic of trees, grasslands, vegetation and plants across the Sahara and Sahel.

The plan is expected to restore the degraded lands and boost the production of adequate food, create jobs and promote peace in the region.

India oil demand falls first time in decades

Ehime Alex
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India oil demand falls first time in decades

India’s crude oil demand last year fell for the first time in more than 20 years because of the COVID-19 pandemic, Bloomberg said in a report.

It noted that Asia’s second-biggest oil importer was expected to report its biggest gross domestic product contraction since records began in the early 1950s.

As in other countries, India had implemented strict lockdowns in response to the first wave of the pandemic, resulting in a 70 per cent drop in the country’s crude demand.

At the India Energy Forum in late October, Chairman of India Oil Corporation, Shrikant Madhav Vaidya, was quoted saying, “Gasoline has already crossed the pre-COVID-19 levels, and diesel too is edging towards pre-COVID-19 levels. The festive season would give a further boost to the demand.”

However, last month, gasoline consumption in India went up by 9.3 per cent on the year, even though diesel fuel demand was lower than a year earlier, Bloomberg stated.

it added that total fuel consumption for the month was 1.8 per cent lower than in December 2019 but the highest since February, the report also noted.

Africa CEO Forum, IFC gear up to rethink African finance

Ehime Alex
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Africa CEO Forum, IFC gear up to rethink African finance

The Africa CEO Forum and the International Finance Corporation are set to hold the first edition of ‘The Financial Industry Summit’ to address the unprecedented challenges heightened by the COVID-19 pandemic facing Africa’s economies.

The summit is billed to hold on March 10-11, 2021 and will feature Africa’s financial sector leaders.

It is aimed to play an active role in the continent’s economic recovery by working to develop a competitive and innovative financial industry.

According to IFC, the event will convene 500 decision-makers representing the entire spectrum of the financial industry, including bankers, insurers, fintech executives, mobile money operators and microfinance institutions, stock markets, regulators, and government ministers.

“Through panels, keynote speeches, and high-level roundtables, participants will explore topics essential to developing an efficient financial sector, such as how to drive digital transformation, developing financial inclusion strategies, adapting to the regulatory environment, updating risk management practices and understanding the impact of the African Continental Free Trade Area,” IFC stated.

The IFC Vice President, Middle East and Africa, Sérgio Pimenta, commented, “The challenges of COVID-19 have placed stress on banks and financial institutions around the world, including in Africa, where they have proved resilient, but still face multiple challenges. IFC has long been a strong supporter of Africa’s financial sector, which we see as the foundation for economic growth. I look forward to the Financial Industry Summit where we will explore how financial institutions can continue to drive development across our dynamic continent.”

Also, the President of Africa CEO Forum, Amir Ben Yahmed, said, “If we really want the AfCFTA to be successful and to seize this unique opportunity to rethink Africa’s financial industry, if we want Africa to overcome the COVID-19 crisis and find a way to create a full-fledged, continent-wide economic recovery plan, then we have no other choice but to combine the forces of the public and private sectors. Africa needs a dynamic public-private dialogue, and it needs it now. Tomorrow will be too late.”

Ghana receives offshore LNG terminal

Ehime Alex
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Ghana receives offshore LNG terminal

Ghana has taken delivery of sub-Saharan Africa’s first offshore receiving terminal for liquefied natural gas.

Tema LNG, a company backed by the United Kingdom-based Helios Investment Partners, said in a recent statement.

This will allow the country to start delivering LNG to customers in the first quarter of this year,  Tema LNG said.

The terminal’s operator disclosed that a floating re-gasification unit built by a subsidiary of China State Shipbuilding Corporation arrived in Ghana on Thursday.

It noted that Shell would supply the LNG under a long-term contract, and the gas would be delivered to customers of Ghana’s public utility service.

“Once operational, this FRU will allow the Tema LNG facility to receive, re-gasify, store and deliver roughly 1.7m tonnes of LNG a year – 30 per cent of Ghana’s general capacity,” said Project Manager, Edmund Agyeman-Duah.

Ghana tried to get an LNG import project off the ground for years, but two leading operators, Golar and Hoegh, withdrew due to delays over contracts.

Ghana, West Africa’s second-largest economy and a major producer of gold and cocoa, suffers from an unreliable supply of electricity.

“As evidenced in similar fast-growing economies in Asia and Latin America, the introduction of LNG into the energy mix serves as a catalyst for industrial and economic growth,” Helios Investment Partners’ Ogbemi Ofuya, stated.

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