African Economies Show Resilience Despite Global Challenges
African economies are projected to experience stronger growth rates in 2024, with 41 countries expected to perform better than in 2023, according to the African Development Bank Group’s latest African Economic Outlook. Apexnewsgh reports The report, launched at the Bank’s Annual Meetings in Nairobi, describes Africa’s growth potential as “remarkable” and predicts the continent will retain its position as the second-fastest growing region after developing Asia in 2024 and 2025. Despite challenges, Africa’s average growth is expected to rebound to 3.7% in 2024 and 4.3% in 2025, exceeding the projected global average of 3.2%. Seventeen African economies are projected to grow by more than 5% in 2024, increasing to 24 in 2025. East Africa is expected to lead as the fastest-growing region, with real GDP growth rising from 1.5% in 2023 to 4.9% in 2024 and 5.7% in 2025. The report highlights the need for strategic policies and political commitment to effectively utilize resource wealth for domestic revenue generation. It also emphasizes the importance of investing in productive infrastructure, including hard infrastructure like roads and railways, and soft infrastructure like knowledge and institutional governance capacity. However, the report warns that Africa is off track to meet almost all of the Sustainable Development Goals by 2030, with corrective action needed to reverse the steepening poverty curve. Unless addressed, Africa will be home to almost 9 out of 10 (or 87%) of the world’s extreme poor by 2030. The African Economic Outlook makes bold proposals to reform the global financial architecture, including giving Africa a greater voice in multilateral development banks and international financial institutions, reflecting its growing share of global GDP and rich natural resources. The report advocates for leveraging private sector financing, simplifying the global climate finance architecture, reforming multilateral development banks, streamlining debt resolution mechanisms, and enhancing domestic resource mobilization. African Development Bank President Dr. Akinwumi Adesina emphasized the need to tackle governance, transparency, accountability, and management of natural capital, as well as investing in young people’s skills, talents, entrepreneurship, and providing them with tools. The report provides timely evidence and analysis crucial for African policymakers, empowering them to make informed decisions. Source: Apexnewsgh.com Thanks for reading from Apexnewsgh as a news publishing website from Ghana. We encourage you to freely share this story via social media platform and follow us on; Facebook on APEXNEWSGH-Tv or Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0248250270/0256336062.
Richard Jakpa Files Application to Dismiss Charges in Ongoing Ambulance Trial
Richard Jakpa, the third accused in the ongoing ambulance trial, has filed a court application seeking to have the charges against him dismissed or, alternatively, to have the proceedings against him stayed. Apexnewsgh reports The application, submitted by his lawyer Thaddeus Sory on Thursday, May 30, argues that the charges and proceedings initiated by Attorney-General Godfred Yeboah Dame constitute an abuse of court processes and violate the obligations set forth in the 1992 Constitution of Ghana. Jakpa contends that the Attorney-General is misusing his constitutional powers by prosecuting him without justification, and claims that in private conversations, the Attorney-General admitted that there is no case against him. This assertion further supports Jakpa’s argument that the prosecution is unwarranted and constitutes an abuse of power. The application states, “The Attorney-General at whose instance the Third Accused/ Applicant is being prosecuted in the instant suit has brought the charges and instituted the proceedings in abuse of the process of the court and contrary to his constitutional obligations under articles 23 and 296 of the 1992 Constitution.” This development comes after Jakpa claimed last week that the Attorney-General had encouraged him to provide false testimony against Dr. Ato Forson during the trial. The National Democratic Congress (NDC) released a 16-minute phone recording purportedly capturing a conversation between Attorney-General Godfred Dame and Jakpa, which allegedly reveals Dame coaching Jakpa on what statements to make in court to incriminate Dr. Ato Forson. NDC Chairman Johnson Asiedu Nketia asserted at a press conference on May 28 that the tape exposed a coaching session intended to manipulate Jakpa’s testimony. The outcome of this application will be a significant development in the ongoing trial. Source: Apexnewsgh.com Thanks for reading from Apexnewsgh as a news publishing website from Ghana. We encourage you to freely share this story via social media platform and follow us on; Facebook on APEXNEWSGH-Tv or Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0248250270/0256336062.