Deputy Finance Minister Holds Talks With AfDB’s President

first_imgDeputy Finance Minister for Economic Management and Alternate Governor at the African Development Bank, Augustus J. Flomo, in handshake with Deputy Finance Minister for Economic Management and Alternate Governor at the African Development Bank, Augustus J. Flomo on Monday, February 25, held a consultative meetings with the institution’s President, Akinwumi Adesina and senior management in Abidjan, where they took stock of the Bank’s accelerated engagement in the region.Minister Flomo said the meeting with the bank’s president was intended to look at a project that the bank could sponsor to enhance Liberia’s economic development efforts in line with the country’s Pro-poor Agenda for Prosperity and Development.Among the possible areas of projects support, Minister Flomo discussed with the Bank’s President included infrastructure projects like roads and electricity, youth employment and support to TVET program that focuses on providing skills development for the country’s youth, as well as support to MSMEs to serve as a catalyst for private sector-led growth.Moreover, the discussions looked at the Bank’s support to commercial rice farming tied to the Staple Crop Processing Zone – linked to the Special Economic Zone.“Infrastructure is very critical. We hope the bank will continue to support and add value to our one government data platform,” Minister Flomo said.The 370 transformative Bank projects valued at US$11.3 billion between 2010-2017 in the region, are changing lives and making a different, the governors noted.These are the second annual consultative meetings, aimed at sharing views with the governors, after the first meetings in the history of the Bank were initiated by President Adesina in 2018.“Our ultimate goal is to ensure that the Governors are much closer to the Bank, and that you are integrally involved in the wider vision and direction, particularly as it pertains to the challenges and needs of your respective regions,” Adesina said in his opening remarks.“Today, I am filled with hope. Hope because Africa is changing. Hope because across the continent, despite challenges, you can see a rising determination to turn things around,” he further noted.“But the needs in Africa are high and we still have a long way to go,” Adesina said, before recalling the Bank’s Board of Directors’ authorization to engage in discussions with its shareholders for a General Capital Increase. “Let’s think how much development we want to have in Africa and how much we are willing to pay for it… Not be too focused on how much it would cost. Let’s think how much development we want to have in Africa and how much we are willing to pay for it. It is not so much what we can afford: it is what Africa deserves. Under-development is more expensive,” he said.During the consultations, the Minister urged for greater focus on women to close the gender gap, address climate change, and increase attention to development in fragile states.Calling the Bank, the economic arm of the African Union, the governors also highlighted the need for it to be involved in global issues in order to influence and help shape the conversations around foreign investments.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Man Utd announce record revenue

first_imgManchester United Man Utd post record £581m revenue Dom Farrell Last updated 2 years ago 19:43 21/9/2017 FacebookTwitterRedditcopy Comments(21) Jose Mourinho Manchester United 2017 Getty Images Manchester United Premier League Three trophies and a return to the Champions League helped the Red Devils reduce the debt in Jose Mourinho’s first season with the first-team Manchester United have announced record revenues of £581.2 million for the 2016-17 financial year.United won the EFL Cup and the Europa League during Jose Mourinho’s first season in charge and investment in stars such as Paul Pogba, Zlatan Ibrahimovic and Henrikh Mkhitaryan saw staff costs rise by £31.3m to £263.5m – an increase of 13.5 per cent.Both Mancs unbeaten by derby? 33/1 Article continues below Editors’ Picks ‘I’m getting better’ – Can Man Utd flop Fred save his Old Trafford career? Why Barcelona god Messi will never be worshipped in the same way in Argentina Lyon treble & England heartbreak: The full story behind Lucy Bronze’s dramatic 2019 Liverpool v Man City is now the league’s biggest rivalry and the bitterness is growing Nevertheless, United turned in a £39.2million pre-tax profit, with net debt reduced by £47.8m (18.3 per cent) to £213.1m.The figures came in above the guidance published by United in May, which projected yearly revenues in the region of £560m-£570m, while the revenue figure of £515.3m from the previous 12 months was comfortably outstripped.United executive vice-chairman Ed Woodward said: “We concluded a successful 2016-17 season with a total of three trophies [including the Community Shield] and a return to Champions League football.”The year saw us set record revenues of over £581m and achieve a record EBITDA [Earnings before interest, tax, depreciation and amortisation] of £199.8m. We are pleased with the investment in our squad and look forward to an exciting season.”The impact of the Premier League’s £5.1bn domestic broadcasting deal with Sky and BT has boosted incomes across England’s top division and United’s broadcasting revenue was up 38.2 per cent on the previous season’s £140.4m to £194.1m.Woodward added that the Old Trafford club’s revenue projects for 2017-18 are estimated to fall between £575m and £585m. Check out Goal’s Premier League 2019-20 fantasy football podcast for game tips, debate and rivalries.last_img read more