logo
Former Prime Minister of Ethiopia Led African Legacies Institute Delegation on Historic Visit to Washington, D.C.

Former Prime Minister of Ethiopia Led African Legacies Institute Delegation on Historic Visit to Washington, D.C.

Zawya13-02-2025

The African Legacies Institute (ALI) (www.AfricanLegacies.org), a pioneering organization dedicated to preserving, honoring, and promoting the legacies of democratic African Heads of State and Government, achieved a significant milestone during a high-profile visit to Washington, D.C. Leading the delegation was H.E. Hailemariam Desalegn, former Prime Minister of Ethiopia, who was among a select group of former heads of state invited by the Multicultural Coalition Presidential Inaugural Ball Committee. Accompanying him were ALI officials Rachelle Yayi, Franya Cabral Ruiz, Sheree M. Mitchell, and George Williams II. Representing the Institute with distinction, H.E. Hailemariam Desalegn highlighted ALI's mission to preserve Africa's democratic legacies, emphasizing the importance of good governance, peaceful transitions of power, and sustainable development to an engaged and supportive audience.
The visit reinforced ALI's unwavering commitment to celebrating and safeguarding the contributions of Africa's democratic leaders. As of 2025, 36 living former African Heads of State and Government have successfully overseen democratic transitions. Their enduring legacy, marked by integrity, visionary leadership, and adherence to constitutional principles, serves as an inspiration for future generations and underscores Africa's commitment to peace, unity, and sustainable democracy.
Key Highlights of the Visit
Presidential Inaugural Prayer Breakfast
The delegation attended the Presidential Inaugural Prayer Breakfast at the Waldorf Astoria, a bipartisan event established in 1992 that convenes spiritual leaders and global dignitaries from over 50 countries.
Multicultural Coalition U.S. Presidential Inaugural Ball
The ALI delegation received a special invitation from Chairman Pastor Mark Burns, spiritual advisor to President Trump, to attend the prestigious Multicultural Coalition U.S. Presidential Inaugural Ball. The event brought together distinguished figures from politics, entertainment, and advocacy to celebrate leadership and unity.
Historic Televised Interview with Voice of America
The visit featured a historic televised interview of H.E. Hailemariam Desalegn conducted by journalist Peter Clottey of Voice of America (VOA), the largest U.S. international broadcaster, reaching an audience of 35 million viewers. The conversation explored the profound contributions of former African democratic heads of state, particularly in national development, peacebuilding, and democratic governance. H.E. Hailemariam Desalegn shared insightful reflections on leadership and the crucial role former African leaders play in shaping the continent's future. He underscored the importance of preserving their legacies to inspire and guide future generations.
High-Level Meeting at the United States Institute of Peace (USIP)
The ALI delegation engaged with Dr. Joseph Sany, Vice President of the Africa Center at USIP, to explore potential collaborations on peacebuilding, leadership training, and governance frameworks, leveraging the expertise of former African Heads of State.
Reception at the Hay-Adams Hotel
The delegation attended a private reception hosted by Gunster Strategies Worldwide, bringing together global leaders, policymakers, and industry figures. Distinguished guests included Nigel Farage, African Ambassadors to the U.S., U.S. Ambassadors to Europe, and high-level elected officials.
Fireside Chat with Engineering Students at Howard University
H.E. Hailemariam Desalegn led an intimate fireside chat with student leaders from Howard University's College of Engineering and Architecture. The discussion reinforced ALI's commitment to fostering stronger collaborations between Africa and the African Diaspora while encouraging students to support economic development on the continent.
Distributed by APO Group on behalf of African Legacies Institute.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

African Nations Urged to Boost Local Debt Markets Amid Global Funding Shift
African Nations Urged to Boost Local Debt Markets Amid Global Funding Shift

Arabian Post

timea day ago

  • Arabian Post

African Nations Urged to Boost Local Debt Markets Amid Global Funding Shift

African countries face growing challenges in accessing international finance as global economic uncertainty and tightening monetary policies restrict foreign capital flows. Moody's Investors Service has highlighted the urgent need for these nations to develop robust local debt markets denominated in their own currencies to mitigate risks associated with reliance on external funding. As global financial conditions tighten, foreign investors have become more cautious about exposure to emerging markets, including many African economies. This shift has led to a decline in capital inflows, leaving governments increasingly vulnerable to sudden stops or reversals in funding. Moody's global head of sovereign risk emphasised that liquid and deep domestic debt markets can provide a crucial buffer, enabling governments to raise funds without depending heavily on foreign creditors. Currently, many African countries issue debt primarily in foreign currencies such as the US dollar or euro, exposing them to exchange rate risk. Currency depreciation against these hard currencies can dramatically increase debt servicing costs, placing pressure on public finances. Developing local currency bond markets would allow governments to borrow in their own currency, reducing this vulnerability and helping to stabilise fiscal positions. ADVERTISEMENT Several African countries have already taken steps to expand their local debt markets. Nigeria, Kenya, and South Africa stand out with relatively more developed government bond markets, which have helped these economies absorb shocks from external capital volatility. However, the scale and liquidity of these markets remain limited compared to advanced economies, making them less effective as shock absorbers. Moody's report stresses that broadening the investor base is critical. This includes attracting domestic institutional investors such as pension funds, insurance companies, and mutual funds, which have longer-term investment horizons and are less likely to withdraw capital abruptly. Expanding participation by local investors can deepen the market and enhance price discovery, increasing market efficiency. Policy reforms to improve the regulatory environment, market infrastructure, and transparency are essential to build investor confidence in local markets. Strengthening legal frameworks for debt issuance and enforcement, improving settlement systems, and enhancing credit rating capabilities will facilitate greater market participation. Governments must also maintain prudent fiscal management to ensure debt sustainability and investor trust. The trend toward tightening global financial conditions reflects actions by major central banks to raise interest rates and normalise monetary policy after years of ultra-loose settings. This environment reduces appetite for higher-risk emerging market debt, especially those with significant external borrowing and weaker fiscal fundamentals. African nations with large current account deficits and high foreign currency debt are most at risk of capital flight and currency pressures. At the same time, China's retrenchment from aggressive lending in Africa is altering traditional funding patterns. The decline in Chinese infrastructure loans and project financing has created financing gaps that are not easily replaced by private capital. Local debt markets can offer a more sustainable alternative, giving governments greater control over funding costs and maturities. ADVERTISEMENT International financial institutions have also been encouraging African governments to tap domestic markets and enhance fiscal resilience. The International Monetary Fund and World Bank support capacity-building initiatives to develop sovereign bond markets and encourage the issuance of domestic debt instruments. These efforts align with the broader agenda of promoting sustainable debt practices and reducing vulnerability to external shocks. Despite the push for local currency debt markets, several challenges remain. Many African economies are characterised by low levels of financial inclusion, limited investor sophistication, and constrained savings pools. These factors restrict demand for government bonds and complicate efforts to build deep, liquid markets. Inflation volatility in some countries adds further complexity. Investors may demand higher yields to compensate for inflation risk, raising borrowing costs. Maintaining price stability is therefore a key complementary objective to developing local debt markets, ensuring that bonds remain attractive and sustainable. The broader economic context also matters. African economies face structural hurdles including reliance on commodity exports, limited industrial diversification, and infrastructural deficits. Strengthening economic fundamentals through reforms aimed at boosting growth and reducing fiscal deficits will enhance creditworthiness and market access. The rise of regional capital markets integration presents another avenue to bolster liquidity and investor interest. Initiatives such as the African Continental Free Trade Area and the establishment of pan-African bond indices could foster cross-border investment, broadening the market beyond national boundaries. As sovereign risk dynamics evolve, credit rating agencies are recalibrating their assessments to account for greater exposure to domestic debt and currency risks. Moody's and others acknowledge that while local debt markets reduce foreign exchange exposure, they introduce new vulnerabilities related to domestic economic conditions and market depth. Continuous monitoring and adaptive policy responses will be necessary to balance these risks.

Soweto Communities Demand Swift Action on Green Energy Transition
Soweto Communities Demand Swift Action on Green Energy Transition

Arabian Post

time3 days ago

  • Arabian Post

Soweto Communities Demand Swift Action on Green Energy Transition

A community-led dialogue in Soweto has intensified calls for a people-first approach to South Africa's energy transition, as environmental activists and residents urge the government to prioritise frontline communities in climate policy decisions. Held at the Soweto Career Centre on 27 May to mark Africa Day, the 'Scamtho' event—organised by Earthlife Africa Johannesburg—brought together over 100 participants from local organisations. The gathering served as a platform for residents to voice concerns about the environmental and health impacts of fossil fuel dependency and to advocate for a just transition that centres on inclusive economic development. Ulrich Steenkamp, Programmes Officer at Earthlife Africa, emphasised the need to amplify the voices of those most affected by fossil fuel extraction. 'The purpose of the event is to put more emphasis on the need to place frontline communities at the centre of climate action and amplify community voices who are directly affected by fossil fuel extraction and the economic gap,' he stated. ADVERTISEMENT Speakers highlighted the disproportionate burden borne by communities exposed to pollution and environmental degradation. Mme Martha Mokate from the Soweto Electricity Crisis Community stressed the importance of community-led planning and participation in local government activities to prepare for the just transition. 'We must move away from fossil fuel energy because it causes pollution and ultimately climate change,' she asserted. The dialogue underscored the necessity of creating decent job opportunities that benefit local communities. Thabisile Mashinini of the New Church NPO remarked, 'It is critical that we address climate change, promote social justice and inclusivity. This is why we want a just transition because it involves greening the economy in an inclusive manner by creating decent job opportunities which benefit local communities and leave no one behind.' Dumazile Ntsele, also from the New Church NPO, highlighted the broader implications of the transition. 'The fight against climate change is one of the main challenges facing the planet today. The impact of extraction in our continent is environmental damage, climate change and extreme health risks, which affect many of our communities. The just transition will ensure that the shift to a green economy benefits African nations,' she noted. Earthlife Africa has a longstanding history of environmental advocacy in South Africa. The organisation gained prominence for its role in halting a controversial nuclear deal between South Africa and Russia in 2017, a victory that earned its director, Makoma Lekalakala, the Goldman Environmental Prize in 2018. Earthlife Africa continues to champion community involvement in environmental decision-making processes.

Musk vows to stay Trump's 'friend' in bizarre black-eyed farewell
Musk vows to stay Trump's 'friend' in bizarre black-eyed farewell

Gulf Today

time5 days ago

  • Gulf Today

Musk vows to stay Trump's 'friend' in bizarre black-eyed farewell

Billionaire Elon Musk bade farewell to Donald Trump in an extraordinary Oval Office appearance Friday, sporting a black eye, brushing aside drug abuse claims and vowing to stay a "friend and adviser" to the US president. As the world's richest person bowed out of his role as Trump's cost-cutter-in-chief, the Republican hailed Musk's "incredible service" and handed him a golden key to the White House. But Trump insisted that Musk was "really not leaving" after a turbulent four months in which his Department of Government Efficiency (DOGE) cut tens of thousands of jobs, shuttered whole agencies and slashed foreign aid. "He's going to be back and forth," said Trump, showering praise on the tech tycoon for what he called the "most sweeping and consequential government reform programme in generations." South-African born Musk, wearing a black T-shirt with the word "Dogefather" in white lettering and a black DOGE baseball cap, said many of the $1 trillion savings he promised would take time to bear fruit. "I look forward to continuing to be a friend and advisor to the president," he said. But many people were more interested in the livid black bruise around Musk's right eye. Speculation about the cause was further fuelled by accusations in the New York Times Friday that Musk used so much of the drug ketamine on the 2024 campaign trail that he developed bladder problems. 'Punch me' The SpaceX and Tesla magnate said that his son was to blame for the injury. "I was just horsing around with lil' X, and I said, 'go ahead punch me in the face,'" 53-year-old Musk said. "And he did. Turns out even a five-year-old punching you in the face actually is..." he added, before tailing off. Musk, however, dodged a question about the drug allegations. The New York Times said Musk, the biggest donor to Trump's 2024 election campaign, also took Ecstasy and psychoactive mushrooms and travelled with a pill box last year. Musk, who has long railed against the news media and championed his X social media platform as an alternative, took aim at the paper instead. "Is that the same publication that got a Pulitzer Prize for false reporting on the Russiagate?" said Musk, referring to claims that Trump's 2016 election campaign colluded with Moscow. "Let's move on. Okay. Next question." Later in the day, when a reporter asked Trump if he was "aware of Elon Musk's regular drug use," Trump simply responded: "I wasn't." Agence France-Presse

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store