logo
Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) ministerial committee endorses membership of Sahel countries as non-Economic Community of West African States (ECOWAS) members

Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) ministerial committee endorses membership of Sahel countries as non-Economic Community of West African States (ECOWAS) members

Zawya7 days ago
The 2nd Extraordinary Meeting of the GIABA Ministerial Committee (GMC) concluded in Accra, Ghana on the 19th of July, 2025, with a decision to allow the three Sahel countries that have withdrawn from the Economic Community of West African States (ECOWAS) to join the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) as Non-ECOWAS Members.
The Ministers present at the high-level meeting unanimously considered the importance of dealing with insecurity in the region in a collaborative manner. The decision will be transmitted to the ECOWAS Council of Ministers and the Authority of Heads of State and Government for consideration.
During the session,Nigeria's Minister of Justice handed over the chairmanship of the GMC to the Minister of Finance of Sierra Leone, who assumes the role as the new Chair of the Committee.
The meeting was officially declared open by the Vice President of the Republic of Ghana, Professor Jane Naana Opoku-Agyemang.
Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Ghana: Finance Minister Chairs New 13-Member Public-Private Partnership Working Committee
Ghana: Finance Minister Chairs New 13-Member Public-Private Partnership Working Committee

Zawya

time12 hours ago

  • Zawya

Ghana: Finance Minister Chairs New 13-Member Public-Private Partnership Working Committee

The Minister for Finance, Dr. Cassiel Ato Forson, has been inaugurated as Chair of a newly constituted 13-member Public-Private Partnership (PPP) Working Committee aimed at deepening collaboration between the government and the private sector to fund critical infrastructure and development projects. The inauguration was conducted by Deputy Finance Minister, Hon. Thomas Ampem Nyarko, who underscored the importance of the committee's work in the context of limited fiscal space. He stressed that enhanced private sector engagement is now essential to meeting the country's development needs. In his remarks, Dr. Forson emphasized the need to reform how PPPs are designed and executed in Ghana. He said the era where government-dominated projects are called public-private partnerships must end. True PPPs must involve real risk-sharing between government and the private sector. According to him, what has been seen over the years does not reflect what a proper PPP should be. The committee is tasked with streamlining Ghana's PPP framework to ensure that future projects are sustainable, transparent, and deliver value for money. Members of the Committee: 1. Dr. Cassiel Ato Forson, MP – Minister for Finance (Chairperson) 2. Dr. Dominic Akuritinga Ayine, MP – Attorney General and Minister for Justice 3. Hon. Elizabeth Ofosu-Adjare, MP – Minister for Trade, Agribusiness and Industry 4. Dr. Audrey Smock Amoah – Director-General, National Development Planning Commission 5. Mr. Simon Madjie – CEO, Ghana Investment Promotion Centre 6. Mr. Frank Mante – CEO, Public Procurement Authority 7. Prof. Nana Ama Brown Klutse – Executive Director, Environmental Protection Agency 8. Prof. Anthony Owusu-Ansah – Executive Secretary, Lands Commission 9. Mr. Samuel Manu Asiama – Chartered Institute of Bankers Representative 10. Ing. Festus Ofoli Odametey – Ghana Institution of Engineers Representative 11. Mad. Nana Oye Bampoe Addo – Deputy Chief of Staff, Office of the President 12. Mad. Shamima Muslim – Deputy Presidential Spokesperson 13. Mr. Patrick Nomo – Chief Director, Ministry of Finance (Secretary) The committee is expected to provide technical guidance and oversight to ensure that PPPs are properly structured and aligned with Ghana's development goals. Distributed by APO Group on behalf of Ministry of Finance - Republic of Ghana.

Desert-to-Power: The Sustainable Energy Fund for Africa (SEFA) commits €6 million to Dédougou Solar Project in Burkina Faso
Desert-to-Power: The Sustainable Energy Fund for Africa (SEFA) commits €6 million to Dédougou Solar Project in Burkina Faso

Zawya

time14 hours ago

  • Zawya

Desert-to-Power: The Sustainable Energy Fund for Africa (SEFA) commits €6 million to Dédougou Solar Project in Burkina Faso

The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank ( has committed a €6 million concessional finance package for the development of the 18 MW Dédougou Solar Power Plant in Burkina Faso, marking a significant milestone towards increasing the country's energy generation capacity. SEFA's commitment comprises a €2.5 million senior concessional loan and a €3.5 million reimbursable grant, complemented by a combination of subordinated and senior loans from the Dutch Entrepreneurial Development Bank (FMO). This commitment was formalized during a signing ceremony in Paris on July 18th, bringing together stakeholders from the African Development Bank, FMO, project developer Qair, and advisors A&O Shearman and Trinity. The Dédougou Solar Power project aligns with the African Development Bank-led Desert-to-Power initiative, which aims to turn the Sahel region into the world's largest solar power zone. It is listed as a priority project in Burkina Faso's national Desert-to-Power roadmap. It is among the first independent power producers (IPPs) in the country and operates under a 25-year Power Purchase Agreement with the national utility, Société Nationale d'Électricité du Burkina Faso (SONABEL). "The Dédougou Solar PV project marks a significant milestone for Burkina Faso and the broader Sahel region,' said Dr. Daniel Schroth, the Bank's Director for Renewable Energy and Energy Efficiency. As a key contribution to the Desert-to-Power initiative, it demonstrates the transformative nature of harnessing solar energy to drive inclusive and sustainable development. The catalytic support from SEFA was instrumental in unlocking this private sector-led project.' Once operational, the plant will help diversify Burkina Faso's energy mix, reduce electricity costs, and boost access to reliable, affordable electricity, supporting economic growth and local livelihoods. The project prioritizes sustainability through a comprehensive Environmental and Social Management System, ensuring responsible operations and mitigating potential environmental and social risks. "This new financing from FMO and SEFA marks a significant milestone in Qair's journey in Burkina Faso,' said Abdoulaye Toure, CFO of Qair Africa. 'We are deeply grateful to both institutions for their continued trust and support, which enable us to deliver impactful renewable energy infrastructure in the region. After commissioning our first 24 MW solar plant in Zano in 2023, this second project in Dédougou reflects our expanding footprint and aligns with Qair's long-term strategy to accelerate the energy transition across Africa." With committed support from SEFA and FMO, the Dédougou Solar Power Plant demonstrates the potential for private-sector-led future renewable energy projects in the Sahel region, accelerating the transition towards sustainable power, fostering economic growth, and enhancing the quality of life for communities across Burkina Faso. Distributed by APO Group on behalf of African Development Bank Group (AfDB). Media contact: Communication and External Relations Department African Development Bank Group media@ About SEFA: SEFA is a multi-donor Special Fund that provides catalytic finance to unlock private sector investments in renewable energy and energy efficiency. SEFA offers technical assistance and concessional finance instruments to remove market barriers, build a more robust pipeline of projects, and improve the risk-return profile of individual investments. The Fund's overarching goal is to contribute to universal access to affordable, reliable, sustainable, and modern energy services for all in Africa, in line with the New Deal on Energy for Africa and the M300. About Qair: Qair is an independent renewable energy company developing, financing, building, and operating solar, onshore and offshore wind, hydroelectric, tidal energy, waste-to-energy, battery storage, and green hydrogen production. With 1.7 GW of capacity in operation or construction, the group's 780 employees are developing a portfolio pipeline of 34 GW in 20 countries across Europe, Latin America, and Africa.

Ghana cancels $1.2bln bauxite deal, eyes global partnership, sources say
Ghana cancels $1.2bln bauxite deal, eyes global partnership, sources say

Zawya

time18 hours ago

  • Zawya

Ghana cancels $1.2bln bauxite deal, eyes global partnership, sources say

Ghana has cancelled a $1.2 billion bauxite lease with local firm Rocksure International, seeking a partnership instead with a big overseas company to tap one of West Africa's richest deposits, three sources with direct knowledge of the matter said. Potential partners include Dubai-based Emirates Global Aluminium (EGA) or a Chinese firm, two of the sources said. The termination marks a strategic pivot by Ghana, which holds an estimated 900 million metric tons of bauxite, the seventh largest globally, but has struggled to attract sustained investment in mining and refining infrastructure. Rocksure's lease covered the Nyinahin Hills in central Ghana, home to about 376 million tons of bauxite, the feedstock for aluminium. It was the basis for a joint venture between Rocksure and the state-owned Ghana Integrated Aluminium Development Corporation (GIADEC) to build a mine and alumina refinery, with Rocksure holding 70% of the Asante Bauxite Company JV. GIADEC and the government owned 20% and 10%, respectively. The lease was never ratified by parliament, rendering it void under a 2019 Supreme Court ruling. "By the Exton Cubic ruling, without ratification, you have no lease," one of the sources said, adding that the Ministry of Lands and Natural Resources had informed Rocksure. GIADEC declined to comment, citing ongoing negotiations. The lands ministry did not respond to requests for comment. Rocksure also declined to comment. Another of the sources said the firm had not been formally notified of the termination, only that GIADEC was exiting the JV. Ghana, Africa's top gold producer, lags in bauxite production behind regional peers like Guinea, a global bauxite giant. GIADEC is now actively courting new investors, including EGA and several Chinese firms, the GIADEC source said. EGA, which lost its mining license in Guinea over delays in building a refinery, signed a memorandum of understanding with GIADEC in June to explore opportunities in Ghana. 'EGA has expressed interest in jointly developing bauxite opportunities in Ghana and is currently assessing the technical and commercial parameters of such collaboration,' the company told Reuters in an email response to queries. EGA said no binding agreement had been signed, and did not disclose investment figures, resource estimates or timelines. A third source said EGA had previously considered investing in Ghana around 2022 but backed out to avoid jeopardizing its Guinea license. "They didn't want Guinea to feel they were shifting focus to Ghana," the source said. "Sourcing bauxite from Ghana aligns with our objective to grow aluminium production by diversifying our supply base,' EGA said. GIADEC aims to begin extraction and off-take from the area - known as Block B - in the first quarter of next year. While no deals have been finalised, talks with potential partners are at an advanced stage, according to the first source. "We're looking at all options to see which one serves the interest of the nation," the first source said. The Ghana Chamber of Mines projects national bauxite output will rise to 2 million tons in 2025, from a record 1.7 million tons this year. (Reporting by Maxwell Akalaare Adombila; Editing by Veronica Brown; Editing by Susan Fenton)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store