African Export-Import Bank (Afreximbank) has hosted a two-day meeting of the Steering Committee of the Partenariat pour le Coton (PPC), a global platform established to support transformation and value addition in the cotton-textile-gar­ment (CTG) sector in developing countries.

With an initial focus on the C4+ countries (Benin, Burkina Faso, Chad, Mali, and Côte d’Ivo­ire), PPC aims to drive sustain­able transformation and value addition in the CTG sector by enhancing economic returns, cre­ating employment opportunities, and promoting economic, social and environmental sustainability.

Delivering the opening remarks at the meeting, held at Afreximbank Headquarters in Cairo Mrs Kanayo Awani, Exec­utive Vice President for Intra-Af­rican Trade and Export Develop­ment at Afreximbank, noted that development of the cotton sector presents significant opportunities to enhance economic growth across Africa.

The sector it said contributes between 45 and 60 per cent of GDP and foreign exchange earn­ings in some countries.

However, she highlighted a recent study by the Steering Committee which revealed that textile and garment manufactur­ing sector in some C4+ countries remained at a nascent stage.

“Therefore, to upgrade and integrate into the global cotton sector value chain, we must ad­dress a range of issues, including low yields and limited processing capacity, climate change and vari­ability, market fluctuations, global cotton prices, weak infrastructure and inadequate access to modern technology,” Mrs Awani said.

She emphasised that, as a member of the C4+ initiative, Afreximbank was committed to supporting African countries to move up the cotton value chain – transforming raw cotton into textiles and clothing.

Working with strategic part­ners, Afreximbank aims to help establish modern textile and gar­ment industries in C4+ countries and across the continent to real­ise the development aspirations of the African Union’s Agenda 2063 and the United Nations Sustainable Development Goals.

Mrs Awani noted that the Steering Committee’s delibera­tions were centred on mobilising capital and investment to trans­form the African cotton sector.

She highlighted several financial and non-financial instruments that Afreximbank could deploy to support this goal, including project prepara­tion funding, tailored financing and advisory solutions, debt and equity financing, export advisory services, SME support, insurance solutions, digital platforms to improve market access and com­pliance, and trade facilitation and investment promotion support.

“Through our active partici­pation in the Partenariat pour le Coton, we reaffirm our commit­ment to supporting Africa’s drive for sustainable industrialisation and local value addition. By working alongside partners, we are helping unlock critical invest­ments, strengthening technical capacity, and promoting sustain­able practices across the cotton sector,” Mrs Awani said.

The outcomes of this Steering Committee meeting represents an important step towards realising the C4+ countries’ vision of a globally competitive cotton-tex­tile-garment industry.

Afreximbank remains com­mitted to championing initiatives that create jobs, boost trade and drive inclusive economic trans­formation,” Mrs Awani informed participants during the meeting.

Emphasising the importance of the outcome in his opening remarks, Mr. Jean-Marie Pau­gam, Deputy Director-General of World Trade Organisation (WTO), and Chairperson of the steering committee said ‘I hope that the discussions over these two days will yield concrete results for the industrialisation and local processing of cotton in partner countries. We will be able to report these results to WTO members at our next discussion on cotton, scheduled for the 14 of May at the WTO, which will address all issues facing the cotton industry in the C4 and other developing countries.”

The meeting, which brought together key stakeholders working to advance sustainable industrialisation across Africa’s CTG value chain, also included the formal signing of an amend­ment to the Trust Fund Agree­ment between Afreximbank and UNIDO.

This amendment reinforc­es Afreximbank’s US$ 80,230 grant to finance a baseline study critical to the development of the cotton-to-textile value chain under the PPC – delivered with­in a WTO-FIFA cooperation framework.

 The Minister of Finance, Dr Cassiel Ato Forson has de­scribed Ghana’s energy sector as the biggest economic risk facing the country.

Speaking during a deep-dive session on the Ghana Energy Compact under Mission 300 at the ongoing World Bank/ International Monetary Fund Spring Meetings in Washington DC on Tuesday, he said the sector was burdened with a financial shortfall of approxi­mately $2 billion.

This amount, he said sur­passed the country’s domestic capital expenditure.

“This challenge goes be­yond tariffs. The entire energy value chain requires urgent reform. Inefficiencies, especial­ly in the distribution sector, are being passed onto the ordinary Ghanaian through high tariffs. ECG alone could cut the short­fall by half if it addresses these inefficiencies.” he said.

To bring stability and sustain­ability to the sector, he said cabi­net had already approved private sector participation.

“We have submitted the leg­islative instrument to parliament to enable competitive procure­ment for power plants. These are critical steps toward bringing transparency and sustainability to the sector.” he said.

The Energy Compact, Dr Forson said had come at the right time as it had the potential to make a lasting impact.

“We are hopeful that the process will not be delayed. Time is of the essence. We must act swiftly to turn this around for the good of our economy and the well-being of our people.” he said.

At the heart of the Spring Meetings are meetings of the joint World Bank Group/IMF Development Committee and the IMF International Monetary

 and Financial Committee, where progress on the work of the insti­tutions is discussed.

 Other featured events include regional briefings, press con­ferences, and fora focused on international development, issues of debt, economic recovery, and private sector mobilization.

Yango Ghana, part of global technology company Yango Group, has honoured the winners of the 2nd edition of the Yango Digital Mobility Awards in Ghana.

The awards event held in Accra aimed to celebrate and recognize the achievements of Yango’s Partners, Partner’s drivers, passengers and other stakeholders who have made significant con­tributions to the digital mobility sector in Ghana.

Speaking at the event Mr Tom Ofonime, Country Manager for Yango Ride in Ghana said “As a part of the global tech company Yango Group, we are committed to creating meaningful impact. So far, we have contributed to the creation of over 5,000 direct and indirect jobs, supported more than 20,000 families, and facilitat­ed millions of rides for individ­uals and small to medium-sized enterprises across Ghana.”

“We encourage more fleet partners, investors, and finan­cial institutions to join us as we grow together — bolstering job creation and providing sustain­able earning opportunities in the market,”he said.

Bishop Dr. Samuel Ant­wi-Gyekyi, Director of ICT, Ministry of Communication representing the Minister of Communication, highlighted the government’s commitment to developing digital mobility plat­forms like Yango in Ghana.

He stressed the importance of fostering an environment for digi­tal innovation, which can enhance transportation efficiency and local economic growth.

He emphasized the need for collaboration among the government, private sector, and stakeholders to meet regulatory standards and adapt to the needs of Ghanaians.

He noted that the strategy would focus on policies promot­ing technological advancement while ensuring safety, accessibility, and sustainability in digital trans­portation.

The awards event brought together industry leaders, poli­cymakers, and entrepreneurs to foster dialogue and collaboration in the rapidly evolving digital mobility ecosystem with Yango Ghana reinstating its commitment to compliance with local regula­tions, data protection and privacy.

Mr Ernest Dogbe was ad­judged the YDMA “Driver of the Year”.

He drove home a brand new Suzuki S-Presso car, which was the ultimate prize on the night.

The other top 9 drivers re­ceived smartphones, fuel vouch­ers, free diagnostics, servicing vouchers and other prizes.

“I am honored to be named Driver of the Year at the Yango Digital Mobility Awards. This rec­ognition reflects not just my ded­ication, but the support that the platform provides to drivers like me. It has transformed how we connect with passengers, making our efforts not only more efficient but also more rewarding.”

He said “Yango has empow­ered me with reliable tools and resources allowing me to provide better service to my customers. I look forward to continuing this journey and being part of a com­munity in the mobility industry.”

Caption: Bishop Dr Ant­wi-Gyekyi (right) presenting the key to Mr Dogbe

 BY TIMES REPORTER