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Author: APO Group
The Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum), the World Bank Group and the African Development Bank (www.AfDB.org) have jointly published a new version of the Manual on Exchange of Information (https://bit.ly/3CovIgS), in order to support tax authorities.
Exchange of information (EOI) is an essential tool for tax authorities worldwide to ensure that all taxpayers pay the correct amount of tax.
The previous edition of the manual, issued in 2013 by the Global Forum and the World Bank Group, was dedicated to exchange of information on request and spontaneous exchange of information. This new edition covers a broader range of exchange-of-information tools, such as tax examinations allowing two or more jurisdictions to conduct simultaneous audits of person(s) of common or complementary interest, or tax examinations abroad to collect information in a foreign jurisdiction.
The manual can easily be tailored to …
The African Circular Economy Alliance (ACEA) (www.ACEAafrica.org), and the Circular Economy Coalition of Latin America and the Caribbean (CEC LAC) (https://bit.ly/3hHaxPw) have organized the first regional dialogue to strengthen cooperation around their common objectives.
The event, titled “Regional deep-dive: Africa, Latin America & the Caribbean joining forces for circularity,” took place as part of the World Circular Economy Forum 2021, organized by Sitra and Environment & Climate Change Canada. It marked the first steps for greater collaboration among the two regions, whose respective countries are pursuing efforts to scale circularity through the promotion of conducive public policies and the creation of investment opportunities.
The event, held on 15 September, was launched by the Ministers of Environment of Colombia and Rwanda, who underlined the role that the circular economy can play in driving a green recovery from the Covid-19 pandemic. Being key advocates in their respective regions, …
The Sustainable Energy Fund for Africa (SEFA) (https://bit.ly/39fnc7x) has announced a $1 million grant to support the government of Kenya to create a Super Energy Service Company (ESCO). The Super ESCO, to be run by the Kenya Power and Lighting Company, will develop and implement energy efficiency projects for both the public and private sectors.
Super ESCOs are vehicles for channeling funds into public sector energy efficiency investments such as hospitals, schools, and street lighting, laying the foundation for private investment later in the commercial and industrial sectors.
The SEFA grant will support the training of a dedicated team within the Kenya Power and Lighting Company’s Institute of Energy Studies and Research to operate as a Super ESCO, in addition, to support for private ESCOs in Kenya to develop their Energy Performance Contract services.
“The Kenya Power and Lighting Company Super ESCO will allow Kenya to not only …
The Sustainable Energy Fund for Africa (SEFA) (https://bit.ly/3tZp0eB) has approved a $1 million grant for the modernization of Africa’s aging hydropower fleet.
The grant will fund the mapping and evaluation of African hydropower facilities’ rehabilitation needs. It will also support the preparation of modernization works for two pilot facilities to a bankable stage, a move expected to add 200 MW in generation capacity, create 150 jobs and reduce greenhouse gas emissions by about 300 kilotons of CO2 annually. The modernization of hydropower stations is an opportunity to increase generation capacity at low-cost, and with relatively short lead times and minimal environmental impact.
Modern hydropower plays a key role in Africa’s energy transition, reducing reliance on fossil fuels and anchoring larger shares of Variable Renewable Energy sources. This transformative program under SEFA’s Green Baseload component will specifically capitalize on the significant market opportunity for rehabilitation of Africa’s existing …
The Global Center on Adaptation (GCA) and the African Development Bank (AfDB.org) have launched a call for applications for the first edition of the African Youth Adaptation Solutions (YouthAdapt) Challenge.
The call encourages young entrepreneurs, innovators from micro, small and medium-sized enterprises (MSMEs) and other youth-led and youth-owned enterprises in Africa, to implement solutions for building resilience and adapting to the adverse impacts of climate change. Young entrepreneurs between the ages of 18 and 35 are invited to respond to the call for the expression of interest and submit their business plan through the official submission portal (https://bit.ly/3kaii1J).
With a strong focus on youth and gender, winners of the YouthAdapt Challenge will be awarded business grants of up to $100,000 each and the opportunity to participate in a 12-month business accelerator program to help them scale up their businesses, deepen their impact and create decent jobs. …
The National Youth Councils of the Common Market for Eastern and Southern Africa (COMESA) Member States, have elected the first-ever COMESA Youth Advisory Panel (COM-YAP). The elections were held during a two-day meeting convened on the 8th and 9th of September 2021, jointly by COMESA and the African Governance Architecture (AGA), focused on bridging the gap between the young people and the decision makers at the regional level.
The 11 member Advisory Panel will serve in a three-year tenure and is tasked with among other responsibilities, to strengthen the engagement of the youth within the region in democracy, governance and socio-economic development issues, and to promote and advocate for productive and meaningful participation of young people in decision-making processes. The Panel will regularly update the COMESA Council of Ministers and the Secretariat on concerns, needs and interests of youth through reports and contributions to the reports of the various thematic …
The new data portal looks into the 17 Sustainable Development Goals and breaks them down into their 169 targets and 231 indicators, allowing everyone to track progress at the granular level.
It is open to all users, including policymakers, planners, programme managers, development partners, private sector organizations, civil society groups, academic institutions, researchers, students, media outlets and many others.
According to the statisticians at the UN Economic Commission for Africa (ECA), among the 169 targets set out in the SDGs, only 30 per cent of them are quantifiable.…
Daniela Odong, a 17-year-old from Uganda’s Mt St Mary’s College, Namagunga has scooped the first prize of the African Union Economic Social and Cultural Council (ECOSOCC) Secretariat Young Africans Writing Contest (YAWC).
Daniela’s essay titled ‘A blueprint for the future’ was announced winner at the YAWC 2021 Awards Ceremony held on the 9th of September, African Union Day.
The Young Africans Writing Contest (YAWC), themed ‘My Africa, My Future’ was launched on Africa Day, May 25th 2021. Entries for the YAWC opened on the same day and closed at midnight 25th, July 2021 CAT.
Over 850 entries were received from across Africa and were assessed by an independent jury to determine the top continental contestants.
Daniela won herself a fully sponsored educational trip to the African Union Headquarters in Addis Ababa, Ethiopia, a laptop, an African Union Winner’s Plaque and an African Union Gift Bag.
The 2nd and 3rd prizes …
The President of the African Development Bank Group (www.AfDB.org), Dr. Akinwumi A. Adesina, has received the Leadership Person of the Year award from the Leadership Newspaper Group in Nigeria. The award was given “in recognition of his impeccable public service record and extra-ordinary accomplishments in driving the growth and development of the African Development Bank Group.”
Senior Vice President, Leadership Group Limited, Azubuike Ishiekwene, said: “In the past five years during which Adesina has presided over the African Development Bank, conscious efforts have been made to re-dedicate the Bank to its core philosophy of ‘Building Today a Better Africa Tomorrow.’ Under the Light Up Africa Project, the African Development Bank has a 10-year plan to drastically reduce the number of Africans who lack access to electricity. Currently, 645 million people lack access to electricity in Africa and, so far, 18 million people have been provided with electricity in Morocco, Ivory …
The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $137 million loan to support Botswana’s economic recovery from the Covid-19 pandemic.
The funds, extended under the Bank Group’s Botswana Economic Recovery Support Program, will be used to enact multi-sector reforms that will increase spending efficiency, create jobs and drive inclusive growth.
The project has three components: enhancing domestic resource mobilization and mitigating fiscal risks to enhance macroeconomic performance and create fiscal space for spending on social safety nets; supporting private sector-led agriculture and industry to bolster productivity and value addition, and increase job opportunities; and offering business development services to micro and small enterprises to advance social protection and gender equity. The three components are expected to reinforce one another.
“The African Development Bank is providing support for reforms to enhance private sector-led agriculture, and transformation of the industrial sector,” said Leila Mokadem, …