“One thing about music, when it hits you”
Friday, July 05, 2024 | 50 Views |
Burna Boy
Afreximbank, the pan-African trade bank with assets of nearly $40 billion, is championing closer trade and economic ties between Africa and the Caribbean. Recently the Bank took its annual meetings to The Bahamas where more than 30 African and 12 Caribbean states spent three days rediscovering ancient cultural ties and forging new economic deals.
But before the two regions embark on what is expected to be a transformational journey into a shared economic future based on shared historical and cultural ties, the initiative needs the buy-in of citizens on both sides of the Atlantic. Africans and their long-lost relatives in the Caribbean need to be reintroduced to one another, delegates said at The Bahamas meetings.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...