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Key Highlights from Grand Africa Initiative’s GAIN Youth Summit 2022
Grand Africa Initiative (GAIN) on the 28th and 29th October, 2022 held the third edition of her annual youth summit tagged GAIN Youth Summit 2022.
This pan-African summit had Prof Benedict O. Oramah, The President and Chairman, Board of Directors, African Export-Import Bank, Egypt as the keynote Speaker who was ably represented by The Afreximbank’s Regional Chief Operating Officer-Anglophone West Africa, Mr. Eric Monchu Intong. Guest Speakers at the summit include the High Commissioner of Namibia to Nigeria, H.E Mr Humphrey Geiseb; Ambassador of Cote D’ivoire to Nigeria Mr Kalilou TRAORE; Dr Tony Elumelu, Ag. Director of Private Sector Development at the ECOWAS Commission, Nigeria; Caroline Njuki, Officer in Charge and Chief Technical Advisor Inclusive Jobs and Education, International Labour Organisation, Kenya; Mr Eric Nges, Vice President, J.P Morgan, Germany; Mr Obinna Iyiegbu (Obi Cubana), the Chairman and CEO, Cubana Group; Mr Sam Itodo, Executive Director, YIAGA Africa, Nigeria; Mr Ehia Erhaboh, Executive Vice President, Operations and Technology, Interswitch Group, Nigeria; Mr Emmanuel Asika; Country Manager- HP Nigeria; Omni Channel Manager-HP ACE, Princess Adeyinka, Founder Happy Coffee, Nigeria; Rapitso Motsebesi, CEO Iconics Pty, Lesotho. Key partners for this year’s summit include the ECOWAS Commission and Embassy of the Republic of Guinea in Nigeria.
The summit attracted over 3000 participants from 62 countries across the world.
The theme of the summit was “The Africa We Want: Nexus Between the Youth, Peace and Entrepreneurship II”
In his Keynote Address, Prof Benedict Oramah, the President and Chairman, Board of Directors, African Export-Import Bank, Egypt congratulates GAIN on the excellent work it is doing, especially with regards to entrepreneurship development and youth employment in Africa.
The Afreximbank Boss called for the prioritization of developmental programmes that facilitates youth integration into trade value chains by both public and private sector players as the solution to the problem of youth unemployment on the continent.
He made this call while delivering the keynote speech at the summit. Prof. Oramah emphasized that youth entrepreneurship and innovation are pivotal to the continent’s economic transformation and so young people should be fully empowered and equipped with the tools to provide solutions to the challenges on the continent.
Oramah stated that “To maximize the AfCFTA’s benefits, and to exploit other opportunities in global value chains, Africa’s youth must be fully empowered to participate in cross border trade. It is especially important that young people are given the tools they need to express themselves as entrepreneurs and equipped to innovate solutions to the continent’s raft of socio-economic issues. We must also ensure that youth perspectives are represented at all levels of the policy formulation process”
“It is therefore necessary for both public and private sector players to prioritize the development of targeted programmes that facilitate youth integration into trade value chains. Afreximbank, in playing its part, is committed to addressing the financing, technical capacity and market access limitations that currently impede the expansion of youth-led trade in Africa”
“Harnessing African youth and positioning this demographic as an engine for economic growth is the collective effort of all, therefore, we must rise to the challenge and ensure that Africa actualizes the potential that this constituency holds with regards to the development of our beloved continent”.
In her opening speech, Chinwe Okoli, the Executive Director of GAIN, stated that there is a need to understand the current situation of Africa as it provides the baseline for creating the Africa we truly want. Speaking on the impact of the summit so far, she stated that “over the past three years, the GAIN Youth Summit has deepened the discourse and contributed to shaping policies around strategies to unleash the economic potentials of young Africans to build sustainable prosperity on the continent.
“Learning from the previous summit resulted in the launch of GAIN Entrepreneurship Masterclass in 2021”.
She emphasized that GAIN believes strongly that the pace of development of Africa depends on the rate of youth development and how GAIN in strong partnership with her partners have trained and empowered young African Entrepreneurs and continues to do so.
“In partnership with the Development Bank of Nigeria for instance, we have trained young women entrepreneurs selected from the six geographical regions of Nigeria. And in partnership with Afreximbank, we have also trained young Africans from 29 African countries within 2022 alone and GAIN will continue to design and implement interventions in response to critical issues that impact the youth in Africa”.
Delivering His goodwill message, the High Commissioner of Namibia to Nigeria, His Excellency Mr Humphrey Geiseb, commended Grand Africa Initiative(GAIN) for its work in bringing opportunities for business to African Youth.
In his words “Youth represent a rapidly growing segment of our population. It is important to provide an enabling environment particularly peace and political stability to position the youth to play a meaningful role. Africa needs to mainstream the presence of young peoples’ voices and recognize their engagement and contributions”.
“Adequate development that involves the youth is needed to ensure that young people utilize their knowledge, youthful energy and resourcefulness to transform Africa’s raw material into
value added products. Youth innovation through entrepreneurship can indeed play a vital role to develop our continent”.
He highlighted the need for African youths to continue to deepen unity and cooperation across the continent on youth matters and that GAIN Youth Summit is an important platform to emphasize the potentials of youths as partners in economic development and as key players in finding solutions to enable the youth to overcome the devastating impact of the pandemic”
His Excellency Ambassador Kalilou TRAORE, Ambassador of Cote d’Ivoire to Nigeria and ECOWAS while responding to the question on how leadership can steer the continent and countries therein in the right direction as a panelist on the day 1 of the summit said “Governance and leadership in Africa is about a clear vision and challenges we have to overcome to achieve our aspirations, So, we need leaders with transformational capacities to make it happen”.
Mr Eric Nges in his response to a question on the kinds of leadership needed to propel Africa’s development, said “Africa is rich in natural resources and a resilient population. He identified three(3) types of leaders which includes: Visionary/Imaginative leaders, Inspirational leaders and Aspirational leaders” emphasizing the need for good leadership in Africa to drive the transformation on the continent.
Speaking on the panel topic Unlocking the potentials in Africa: The Leadership Question, the Executive Director, YIAGA Africa, Nigeria, Sam Itodo says leadership questions cannot be overlooked if Africa is going to achieve the 2063 goals; leadership is about taking responsibility and Africa needs leaders who will be proactive in taking responsibilities, leaders that care about generational equity, care about the future, care about the youths and also leaders who know when to leave the stage”.
He emphasized that young people are not asking the right questions and are not prepared enough to take over leadership roles in the continent. He enjoined Africa youths to widen their horizon and build alliances across nations and ages.
Dr Tony Elumelu, Ag. Director of Private Sector Development at the ECOWAS Commission, speaking on migration and peace said In Africa , migration is our way of life and it is not necessarily a bad thing but rather it depends on how it is handled and the purpose. He implored African governments to create a good environment for people to stay and also strong institutions to regulate mobility to ensure safety thereby giving Africans a ray of hope and reasons to stay rather than leave the continent.
Caroline Njuki, Officer in Charge and Chief Technical Advisor Inclusive Jobs and Education, International Labour Organisation, Kenya, speaking on the same topic stated that “research has shown that people will migrate to where they find resources to sustain their livelihood. Africa is blessed with talents and supporting people with brilliant ideas to birth those ideas will undoubtedly transform the continent for the better”. It is high time African governments tackled the challenges in retaining talent in Africa as she identified access to capital for MSMEs as the biggest challenge.
Ehia Erhaboh, Executive Vice President, Operations and Technology, Interswitch Group, Nigeria speaking on the topic: The Imperative of Youth Entrepreneurship in Building Africa, said that “A lot is dependent on African youths to make sure to leave a better version of this present Africa. Youths should be problem solvers: constantly looking for opportunities to solve problems in their environment, Africa Youths should not wait to see things happen but they should make things happen. The Africa we want is in the hands of the youth especially youth entrepreneurs and as such youth entrepreneurship should be highly promoted by government and leaders in the continent”.
In his contribution, the Chairman, Cubana Group, Obinna Tochukwu Iyiegbu stated that nobody can develop Africa apart from Africans and Entrepreneurship needs to be at the core of the efforts to transform Africa at various levels. He admonished Africa youths to focus less on the negatives rather focus more on what can be done right.
“Building the Africa we want involves leveraging technology and innovation. African Government and leaders need to factor in youth participation and promote their involvement in the technology sector”. These were the words of Emmanuel Asika; Country Manager- HP Nigeria; Omni Channel Manager-HP ACE while speaking at the panel session on day 2 of the summit.
He emphasized that successful entrepreneurs need to understand the importance of technology and innovation. He proposed that youth entrepreneurs should be educated on digital literacy and its importance to establishing a successful business and government and leaders should develop schemes and also promote digital inclusion in the continent.
Sharing their inspiring bold action as young African Entrepreneurs, Princess Adeyinka Tenekah, founder of one of Nigeria’s premier indigenous coffee franchises, Happy Coffee, shared her drive for building her business and creating a niche for herself in the agricultural sector.
Rapitso Mosebetsi, a Lesotho born entrepreneur and social business innovator, Co-Founder & CEO Iconics Pty Ltd, also shared his experience in building a business in the fashion sector. His business was hailed ‘Most Innovative & Versatile Exporter in 2022’ by the Lesotho National Development Corporation, USAID Trade Hub Southern Africa, and Lesotho Post Bank.
They both enjoined Africa youths to back up their dreams with actions and to see every problem as an opportunity to contribute to the development of Africa.
Grand Africa Initiative (GAIN) is a youth-focused pan-African non-governmental organization championing youth empowerment for development across Africa. GAIN is set up to help young Africans between 15 and 35 years old drawn from within and outside the continent, who are passionate about promoting entrepreneurship as a means to reduce conflict, promote peace and economic revival of the continent. GAIN programs include training, advocacy, mentorship, and youth events, designed to help achieve sustainable development by igniting the positive energy of the greater segment of Africa’s population – the youth.
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FG Unveils Committee to Advance Risk Management in Nigeria
To bolster Nigeria’s approach to risk management, the Federal Government has inaugurated a new committee dedicated to evaluating and addressing various national risks.
The announcement was made by the Managing Director and Chief Executive Officer of the Bank of Industry, Dr. Olasupo Olusi, during the Chartered Risk Management Institute (CRMI) annual conference held in Lagos on Thursday.
Dr. Olusi, who was honoured with an honorary fellowship at the event, revealed that the committee is tasked with presenting its findings to the presidency within four weeks. The initiative reflects the government’s commitment to enhancing risk management practices and mitigating potential financial and operational vulnerabilities.
The CRMI conference also featured the presentation of its inaugural Honorary Fellowship Awards. This year’s honorees included- Dr. Kadir Obafemi Hamzat, Deputy Governor of Lagos State; Dr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN); Dr. Zaccheus Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS); Dr. Emomotimi Agama, Director General of the Meteorological Agency (NiMet); and Dr. Lamido Yuguda, Director General of the Securities and Exchange Commission (SEC).
Additional awards were given to Dr. Adaora Umeoji, Group Managing Director of Zenith Bank; Dr. Roosevelt Ogbonna, Managing Director/CEO of Access Bank; and Dr. Nneka Oyeali-Ikpe, Managing Director/CEO of Fidelity Bank.
A significant highlight of the conference was the signing of a Memorandum of Understanding (MOU) to form the Federation of African Risk Management Associations (FARMA). The MOU was endorsed by representatives from South Africa, Côte d’Ivoire, Morocco, Senegal, Benin Republic, and Kenya.
Dr. Olusi praised President Bola Tinubu for his support, stating, “President Tinubu understands the critical importance of effective risk management for our economy and has charged us with improving our approach to credit risks. We are expected to report our progress within the next four weeks.”
Dr. Ezekiel Oseni, President and Chairman of Council at CRMI, provided an update on legislative developments, noting that the Institute is sponsoring a risk management bill currently under review in the National Assembly.
The bill, which has passed its first reading, aims to establish mandatory risk management functions across all Ministries, Departments, and Agencies (MDAs).
Dr. Oseni highlighted the importance of governmental support for these initiatives, stating, “Our efforts are vital for enhancing economic resilience, and it is crucial that the government continues to back these initiatives.”
He also called on African governments, the African Union, and multilateral organizations like AfDB and Afrexim to support the newly established FARMA.
“We commend the efforts of those working towards establishing a rating agency for Africa and call for broader support for this significant initiative,” Dr. Oseni added.
Dr. Kadri Obafemi Hamzat, Deputy Governor of Lagos State, delivered a keynote address emphasizing the need for comprehensive risk management from a governance perspective.
He highlighted the impact of insecurity and technological advancements on societal stability and economic growth.
“Insecurity has caused significant turmoil and displacement, requiring decisive government action to ensure safety and uphold sovereign integrity,” Dr. Hamzat noted.
He also stressed the importance of legislating for data protection and addressing the risks associated with Artificial Intelligence (AI) and robotics.
Dr. Hamzat concluded by acknowledging the role of the CRMI in advancing transparency and accountability through risk management education and practices.
The conference marked a pivotal moment for Nigeria’s approach to risk management, underscoring both national and regional commitments to enhancing risk assessment and response mechanisms.
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Afrexim Bank Boosts Africa’s Creative Industry with Launch of “One Drum” EP
Afrexim Bank’s Creative Africa Nexus (CANEX) programme has launched the highly anticipated “One Drum” EP, a collaborative music project that brings together top artists from Africa and the diaspora.
This innovative initiative aims to promote Africa’s creative economy, drive economic growth, and solidify the continent’s position as a global creative hub.
The “One Drum” EP is a strategic initiative to unlock Africa’s creative potential, promote cultural exchange, and drive economic growth. With its global appeal and innovative sound, the EP is poised to resonate with audiences worldwide, further establishing Africa as a key player in the global creative economy.
Afreximbank, having recognised the relevance and opportunities provided by the creative economy as a key driver for development and job creation, established the Creative Africa Nexus programme (CANEX) to support the development of Africa’s Creative and Cultural Industries and address some of the challenges faced by this economy, through the provision of access to finance, capacity building, trade, investment and export promotion, access to new market opportunities, digital solutions, and policy advocacy to fast-track the scaling of Africa’s creative sectors within the global economy.
The “One Drum” EP is a masterpiece of global musical collaboration, celebrating the vibrancy, resilience, and diversity of African music while embracing global influences.
Featured artistes on the One Drum EP include Flavour (Nigeria), Olodum (Brazil), Oskido (South Africa) Commissioner Gordon Williams (USA), Sofiya Nzau (Kenya), Stephen Marley, YG Marley, and Jo Mersa Marley (Jamaica), The Scorpion Kings (South Africa) as well as Tman Xpress, X-Wise, Phila Dloz (South Africa)i, and Olodum (Brazil).
One Drum is more than just music; it’s a celebration of the cultural bonds that unite Africa and its diaspora, shaped by our shared history and the enduring legacy of the Trans-Atlantic Slave Trade. The EP resonates with rhythms that have traveled across continents— from the global sounds of Afrobeats and Amapiano, to the vibrant drums of Brazil to the soul-stirring Reggae of the Caribbean.
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Ibom Air Expands Fleet Operations, takes Delivery of Second Airbus
Ibom Air has announced receipt of second Air bus A220-300 in fulfillment of plans to increase fleet operations in Akwa Ibom state. In a statement signed by Mrs Aniekan Essienette, the Manager, Marketing and Communication and made available to Journalists in Uyo, the Airbus arrived Nigeria through Murtala Mohammed International Airport, Lagos on 10 August 2024 .
It also stated that the shareholder being Akwa Ibom state government formally received the consignment on Tuesday at Victor Attah International Airport , Uyo amidst pomp and pageantry.
Essienette explained that the acquisition of the second Airbus aligns with Ibom Air’s strategic goal of rapidly increasing capacity and expanding its route network.
The statement reads in parts : “The Airbus A220-300, celebrated for its fuel efficiency, environmental sustainability, and passenger comfort, will enable Ibom Air to increase flight frequencies on existing routes and expand to new destinations.
“While giving his welcome remark, the Chairman of Ibom Air, Pastor Imoabasi Jacob, saluted the resilience and doggedness of Ibom Air’s management and the strong support of the state governor Pastor Umo Eno.”
She said Pastor Umo Eno in his remarks on arrival of the Airbus has expressed his enthusiasm for the development of the Airline .
“The arrival of our second Airbus A220 reiterates the state’s unwavering commitment to advancing our aviation sector. This addition aligns with our strategic vision for Ibom Air and supports the economic growth and development of Akwa Ibom State by enhancing air travel and connectivity, creating job opportunities, and boosting tourism.”
Essienette disclosed that bom Air’s Chief Executive Officer , Mr. Mfon Udom, emphasized the significance of the addition to the fleet to operations of the Airline
“We are thrilled to welcome our second wholly owned Airbus A220. This aircraft will significantly boost our capacity in response to the growing service demand.
“A special thanks to the Nigerian financial institutions who continue to partner with Ibom Air, especially Fidelity Bank and Union Bank.
“We appreciate the tremendous support shown to us by our valued customers recently as we bore through flight disruption. We are committed to delivering remarkable improvements moving forward.”
She maintained that Ibom Air as a wholly owned subsidiary of the Akwa Ibom State Government is dedicated to setting the benchmark as the airline of choice for passengers.
“The airline focuses on schedule reliability, on-time departures, and outstanding service. Ibom Air’s fleet comprises seven aircraft: five Bombardier CRJ 900s and two Airbus A220-300s. It serves six domestic destinations in Nigeria and Accra, Ghana.” She said.
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