The African Development Bank Group (AfDB) and Germany have launched a series of joint initiatives aimed at accelerating energy access and boosting private sector development across Africa.The partnership, unveiled during a high-level meeting in Abidjan,… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader AfDB, Germany Partner to expand energy access, drive private sector growth in Africa By sbinsights on February 26, 2025 The African Development Bank Group (AfDB) and Germany have launched a series of joint initiatives aimed at accelerating energy access and boosting private sector development across Africa. The partnership, unveiled during a high-level meeting in Abidjan, Côte d'Ivoire, includes increased support for the Mission 300 initiative, which seeks to provide electricity to 300 million Africans by 2030, as well as improved financing for private sector investments in the energy sector. Germany's Commitment to Africa's Development Germany, the largest contributor to the 16th replenishment of the African Development Fund and a key AfDB shareholder, reaffirmed its role as a strategic development partner. Over 90 senior officials from the AfDB, the German Federal Ministry for Economic Cooperation and Development (BMZ), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), and Kreditanstalt für Wiederaufbau (KfW) participated in the discussions. AfDB Senior Vice President Marie-Laure Akin-Olugbade expressed appreciation for Germany's support, stating: "The African Development Bank values this strong demonstration of commitment to building strategic partnerships. By working together, we continue to lay the groundwork for a brighter, more inclusive future for Africa." Read also AfDB, Germany Partner to expand energy access, drive private sector growth in Africa FCCPC investigates soaring Drug prices, Vows consumer protection NAFDAC to reopen Abia drug markets Dangote refinery now fulfilling 60% of Nigeria's petrol demand Selling crude oil in naira will stabilize economy – FG Focus on Renewable Energy and Private Sector Growth Germany's partnership with AfDB will expand financing for renewable energy projects, building on existing initiatives such as the Sustainable Energy Fund for Africa and the Climate Action Window. This move is expected to strengthen energy access programs across the continent through the implementation of National Energy Compacts. Beyond energy access, the collaboration aims to stimulate Africa's private sector, particularly by supporting youth entrepreneurship and skills development. Key initiatives discussed include: Increased funding for Youth Entrepreneurship Investment Banks Enhanced cooperation on the Build 4 Skills program BMZ Director General for Africa, Birgit Pickel, emphasized the urgency of scaling development efforts: "To foster development on the continent, we need to move at scale. I am very proud that the African Development Bank and Germany are deepening their excellent cooperation." Accelerating Green Infrastructure Development A major highlight of the meeting was the signing of key subscription agreements under the Alliance for Green Infrastructure in Africa (AGIA). This marks a crucial step toward the first close of the AGIA Project Development Fund, with contributions from: AfDB Africa50 West Africa Development Bank KfW The agreement is expected to accelerate green infrastructure projects across Africa, reinforcing the continent's transition to sustainable energy solutions.

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The Federal Competition and Consumer Protection Commission (FCCPC) has launched an inquiry into the rising cost and price variations of essential drugs across Nigeria, raising concerns over accessibility and affordability.The investigation, which began … Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader FCCPC investigates soaring Drug prices, Vows consumer protection By sbinsights on February 26, 2025 The Federal Competition and Consumer Protection Commission (FCCPC) has launched an inquiry into the rising cost and price variations of essential drugs across Nigeria, raising concerns over accessibility and affordability. The investigation, which began in Abuja on Wednesday, is titled "Inquiry into the High Cost and Variation of Drug Prices in the Pharmaceutical and Healthcare Sector." It brings together key stakeholders, including the Association of Community Pharmacists of Nigeria (ACPN), the Pharmaceutical Society of Nigeria (PSN), and the National Health Insurance Authority (NHIA). A Nationwide Probe into Drug Pricing Bola D. Adeyinka, Director of Surveillance and Investigation at the FCCPC, who represented Olatunji Bello, the Commission's Executive Vice Chairman, emphasized that the probe aligns with the FCCPC's mandate under the Federal Competition and Consumer Protection Act of 2018 to promote fair business practices and safeguard consumer interests. "As part of our mandate, we are conducting an inquiry into the high cost and variation of drug prices in Nigeria," she stated. She highlighted the steep rise in medication costs over the past year, making it increasingly difficult for Nigerians to afford essential treatments. Some drugs, particularly for hypertension and diabetes, have witnessed price disparities of up to 200% across different regions. Read also FCCPC investigates soaring Drug prices, Vows consumer protection NAFDAC to reopen Abia drug markets Dangote refinery now fulfilling 60% of Nigeria's petrol demand Selling crude oil in naira will stabilize economy – FG Tinubu's administration committed to local enterprise growth – VP Shettima Adeyinka assured Nigerians that the FCCPC is committed to ensuring equitable access to quality and affordable healthcare. A final report on the findings will be released after the investigation. Pharmaceutical Industry Calls for Price Stability Speaking on behalf of PSN President Ibrahim Tanko, Salamatu Orakwelu, FCT Chairman of PSN, reiterated the urgency of addressing drug price inflation, particularly for medications covered under the NHIA. "Access to affordable and quality medicine is a fundamental pillar of healthcare. As pharmacists, we remain committed to ensuring equity, transparency, and sustainability in the pharmaceutical supply chain," she said. She called for collaboration among policymakers, healthcare professionals, and industry players to stabilize drug prices, enhance accessibility, and reinforce NHIA policies. The FCCPC's drug pricing inquiry marks a significant step toward addressing affordability challenges and ensuring fair market practices within Nigeria's pharmaceutical sector.

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