<div style="max-width: 100%;"></div>
<p><script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script></p>
<p>A licence to operate telecommunication services in Ethiopia has been awarded to Kenya’s telco giant Safaricom in a consortium made up of Vodafone, Japan’s Sumitomo and UK finance agency CDC Group. One of the people involved in awarding of this licence is the Senior Adviser to the Minister of Finance for Ethiopia, Brook Taye. He spoke to CNBC Africa for more.</p>


Safaricom pips MTN to Ethiopian operating licence

<div style="max-width: 100%;"></div>
<p><script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script></p>
<p>A license to operate telecommunication services in Ethiopia has been awarded to a consortium made up of Safaricom, Vodafone, Japan’s Sumitomo and UK finance agency CDC Group.</p>


Global consortium wins telecom license in Ethiopia

<div style="max-width: 100%;"></div>
<p><script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script></p>
<p>The United Kingdom&#8217;s development finance institution and impact investor, CDC Group recently launched the ‘Just Transition Finance Roadmap’ aimed at addressing the challenges around climate finance.</p>


How climate financing can benefit African communities

<div style="max-width: 700px;">
  <video-js
    data-account="1571595826001"
    data-player="c0AOssA7"
    data-video-id="6164869487001"
    data-embed="default"
    controls=""
    data-application-id=""
    class="vjs-fluid"></video-js>
</div>
<p><script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script></p>
<p>UK government-owned finance development institution CDC Group has signed a MoU with Rwanda Finance limited in a historical first that will see them a partner develop the Kigali International Financial Center. Rwanda Finance limited CEO, Nick Barigye joins CNBC Africa for more.</p>


UK’s CDC Group signs MoU with Rwanda Finance limited

UK’s CDC Group signs MoU with Rwanda Finance limited, to develop new financial center


<p>By Victor Oladokun<br>April 3, 2020</p>



<p>Two days ago, I received an urgent plea from Massimo, a good friend and a highly respected Italian journalist based in Rome. His message was simple, urgent and straight to the point.</p>



<p><br>“Please Victor, pay attention” he urged. “This virus is not ‘just a flu’ as some still insist it is. Keep your distance. Wash your hands regularly. Don’t touch your face, eyes and mouth. Avoid crowded places where you cannot maintain the required social distance … pay attention my friend!”</p>



<p>Italy has given the rest of the world a tragic glimpse of what a lockdown needs to look, especially for countries that blink and fail to take action fast.<br>Italy’s experience is an urgent wake-up call about the importance of swift and decisive action.</p>



<p>Massimo knows first-hand what’s at stake. A few hours earlier, he had lost a professional colleague. His country, which has a social culture very similar to Africa’s, now has more than 13,000 deaths from COVID-19. It is the highest number of fatalities anywhere in the world. And the body count is still rising.</p>



<p>Africa has had some lead time to learn important lessons and proactively engage&nbsp; the World Health Organization, the Centers for Disease Control and Prevention, and other multilateral institutions, to hell put containment and preventative measures in place.</p>



<p>While others have wasted precious early moments, some countries and cities have been exemplars of what it takes to counter the spread of COVID-19. Rwanda for example, was the first country to take swift containment actions by placing portable sinks with running water in public spaces in its capital city and backing it up with a public awareness campaign. The Governor of Lagos State, Nigeria’s commercial hub, was also quick to convert a local stadium into an isolation and recovery area. Last week, Nigeria’s President Muhamadu Buhari placed the Federal Capital Territory of Abuja, Lagos and two neighbouring States, under lockdown for two weeks. Ultimately, Nigeria with a population of 180 million, will have to lock down for an even longer period of time.<br><br></p>



<p>Several other countries are following suit. But many others are woefully lagging behind. There is still an unwillingness to acknowledge that not taking decisive and painful short-term action, will have devastating long-term consequences.<br><br></p>



<p><strong>Exposing systemic weaknesses</strong></p>



<p>In spite of Africa’s best efforts, more must be done. The outlook for the continent is grim unless swift proactive actions are taken. For now, the pandemic is exposing deep cracks and systemic weaknesses across the board including a general lack of emergency preparedness, weak governance, and political, economic, social, cultural and health threats.</p>



<p>Millions of Africans live on less than two dollars a day. The implication is simple. A lack of access to money, food, water and electricity, means extended lockdowns will not be easy to implement. High levels of poverty and other communicable diseases were already impacting health and wellbeing long before the arrival of the coronavirus. A shortage of well-equipped and well-funded healthcare facilities is just the tip of the iceberg. Everything from doctors, clinics, hospitals, beds, medical supplies and intensive care units are in chronic short supply.</p>



<p>However, the Ebola outbreak in Sierra Leone and Liberia and collaborative action by African leaders and global partners, shows that where there is a will, there is always a way.</p>



<p>COVID-19 could not have arrived at a worse time for Africa. A crash in global commodity prices and a glut in the oil and gas markets has seen revenues drop precipitously. Further threats from nature, including the impact of devastating weather patterns such as Cyclone Idai and Henry and a recent plague of locusts, have to be managed alongside the pandemic.</p>



<p>Economically, the private sector and financial markets have taken a beating. The sudden reversal of fortunes is in stark contrast to a more positive projection in the African Development Bank’s 2020 African Economic Outlook when it was released in January 2020. The bandwidth of fiscal headroom is very thin. Commodity-sensitive economies are reeling under the effects of sudden price drops and the altered market reality of reduced global demand. Crude oil prices which now hover at $22 a barrel, have fallen more than 68% since January 2020. Non-oil commodity prices in natural gas and metals have also taken a nosedive.</p>



<p><strong>Acting Fast and Thinking Authentically</strong></p>



<p>Extended lockdowns carry inherent potential threats of their own and these must be managed. Along with underlying systemic weaknesses, the pandemic could unleash social unrest, the explosions of which will be as unprecedented as the virus itself.</p>



<p>We must therefore act fast and think authentically. Africa has its own particularities and to a certain extent, local contexts will require locally suited solutions, while drawing from global lessons. Recent videos of local communities forcefully resisting law enforcement and sanitation teams are already emerging. Such scenes are inevitable, for reasons of poverty, a lack of knowledge, and a chronic mistrust of authorities.</p>



<p>Concerns about informal settlements, some of the largest in the world, are a cause for worry, as is terrorism, economic and social exploitation and fragility.</p>



<p><strong>Psychological impacts of a pandemic</strong></p>



<p>Along with business and financial challenges, Africa’s leaders must prepare to address the social, physical and mental health fallouts from unavoidable lockdowns, social disruptions, the loss of basic human dignity, threats to civil life, and worse, the loss of life itself.</p>



<p>Several governments have grasped this and are stepping up, although time is not on their side. In many cases they have imposed limited two-week lockdowns in the first instance. The goal is not to alarm citizens. But this is unlikely to be sufficient as the virus apparently has its own agenda, pattern and timing! Realistically, beating COVID-19, is likely to require 6-10 weeks of total nationwide lockdowns, at a minimum.</p>



<p><br>To not do so, is to sell an illusion. To not do so, is to delay the inevitable. To not do so, is to raise false hopes. To not do so, is to be complicit and irresponsible in the spread of this most virulent and devastating virus. Worse, it will be suicidal, not just for countries but for the continent.</p>



<p><strong>Dealing with harsh realities</strong></p>



<p>We must therefore deal with hard reality, scientific facts, current simulations and real global lessons. Cosmetic approaches will not work when surgical precision is required. We must marshal every resource in order to save lives … every life and especially those already living on the margins of society. The underlying ethos of Ubuntu which says – “I am, because you are,” must be unleashed with full force to save lives. We have to be brutally honest, in order to be kind to ourselves!<br>The bottom line is that this is not a time for test runs.</p>



<p><strong>Urgent action is needed now, not tomorrow.</strong> This includes –</p>



<ol type="1"><li>Making tough and seemingly unpopular leadership decisions that will ultimately save lives and society.</li><li>Using every communication platform possible to increase public awareness and promote containment and preventative measures.</li><li>Stepping up testing and reducing the wait time between tests and test results.</li><li>Mobilising the support of public influencers including traditional, religious, civil society, entertainment celebrities, women and youth leaders.</li><li>Introducing measures to secure food and medical supply channels, fixing basic food prices, and curbing hoarding and panic-buying.</li><li>Re-purposing public spaces including conference centres, stadiums and open spaces for use as isolation and recovery centres.</li><li>Leveraging every available advantage, by focusing on low hanging fruits. For example, regional economic communities could re-organise manufacturing and target the supply of critically needed medicines, equipment and medical supplies, as well as food packaging and processing.</li><li>Delaying debt obligations and buying time with global creditors through forbearance or payment postponements. Prior to the COVID-19 pandemic, an estimated one third of African countries were at risk of debt distress. Post-crisis, the numbers will be significantly higher.</li></ol>



<p>Pandemics and other global crises do not respect boundaries, titles or positions, creed, faith, gender, culture or hierarchy.</p>



<p>Abiy Ahmed, the Ethiopian Prime Minister and 2019 Nobel Peace Prize Laureate rightly tells us: “COVID-19 teaches us that we are all global citizens connected by a single virus that recognises none of our natural or man-made boundaries.”<br>We are in this together, regardless of where we call home. “<em>Umuntu ngumuntu ngabantu.</em>” I am because you are.</p>



<p>Dr. Victor Oladokun is the former Director of Communication and External Relations, African Development Bank Group.</p>



<p>For more coverage on COVID-19 visit: <a href="https://www.cnbcafrica.com/covid-19/">https://www.cnbcafrica.com/covid-19/</a></p>


AFRICA LOCKS DOWN: No Time For Lockdowns

Op-Ed: Africa locks down: No time for test runs

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=5972551928001" allowfullscreen="" border=0 frameborder=0></iframe></div>
</div>
<p>The UK’s development finance institution, CDC Group, has announced a $25 million-dollar commitment to a local fund backing small and medium-sized businesses in Nigeria. Nick O’Donohoe, CEO of CDC Group joins CNBC Africa to discuss the group&#8217;s plans for Nigeria.</p>


CDC group

Safaricom pips MTN to Ethiopian operating licence

Global consortium wins telecom license in Ethiopia

How climate financing can benefit African communities

UK’s CDC Group signs MoU with Rwanda Finance limited, to develop new financial center

Op-Ed: Africa locks down: No time for test runs

CDC plans to invest $4.5bn in Africa

News Tips

Advertise With Us

CDC group

Safaricom pips MTN to Ethiopian operating licence

Global consortium wins telecom license in Ethiopia

How climate financing can benefit African communities

UK’s CDC Group signs MoU with Rwanda Finance limited, to develop new financial center

Op-Ed: Africa locks down: No time for test runs

CDC plans to invest $4.5bn in Africa

News Tips

Advertise With Us

Newsletters