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Afreximbank, IsDB, Others Launch $1.5bn COPREFA Fund

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By Adedapo Adesanya

The African Export-Import Bank (Afreximbank), the International Islamic Trade Finance Corporation (ITFC), the Trade Finance Arm of the Islamic Development Bank (IsDB) Group; and the Arab Bank For Economic Development in Africa (BADEA) are to launch a $1.5 billion Collaborative COVID-19 Pandemic Response Facility (COPREFA) to help the continent get back on its feet.

COPREFA will be accessed by eligible central banks, commercial banks and businesses to finance the import of medical supplies, as well as agricultural equipment and fertilizers essential for addressing the pressing food production deficit.

The programme is also designed to support African economies to overcome a myriad of challenges, including commodity price shocks, a significant drop in tourism, and disruption to supply chains and export manufacturing.

It will also address the sudden declines in financial flows, including a drop off in trade and project finance, migrant remittances, portfolio investment and Foreign Direct Investments.

A key attribute of the COPREFA facility is the speed at which financial assistance can be provided through all partners involved. The impact of the COVID-19 pandemic has proven to be fast-paced, requiring support that can be deployed quickly and flexibly to prevent sharp declines in national economies.

Standard eligibility criteria and credit appraisal process have been developed by COPREFA partners in order to facilitate the implementation of the facility. Support will be available through direct funding, lines of credit, confirmation and refinancing of documentary credits; guarantees, cross-currency swaps and other similar instruments.

The co-financed facility, led by Afreximbank leverages strategic partnerships with other Multilateral Financial Institutions and other international financial institutions in co-financing, risk-sharing of transactions and promoting integrated trade solutions, to support African economies on navigating the impact of COVID-19.

Afreximbank has a strong track record of supporting African economies during financial crises. In 2015, the Bank disbursed more than $10 billion through a Counter-Cyclical Trade Liquidity Facility (COTRALF) to help member countries manage the adverse economic fallout of commodity price shocks.

In March 2020, a financial package called the Pandemic Trade Impact Mitigation Facility (PATIMFA) was launched solely by Afreximbank to support economies through the pandemic – a facility of which over US$5 billion has been disbursed, will be implemented alongside COPREFA.

Established 45 years ago, BADEA as international development finance institutions (DFIs) with the objective of supporting economic, financial and technical cooperation between Arab and African countries through a wide range of financing instruments that have been enhanced and diversified to meet the economic needs of beneficiary countries.

Speaking on this partnership, Mr Benedict Oramah, President of Afreximbank, said: “The COVID-19 pandemic has devastated many economies. Africa has not been spared. Afreximbank’s priority has always been to step-up when markets fall. That is why we are supporting African economies forcefully at the time of great difficulties.

“COPREFA, a product of a unique international partnership, is a major contribution to the global fight against the pandemic and will work alongside our other programs to ensure Africa’s future remains bright beyond this economic shock. We thank our partners for the confidence.”

On his part, Mr Hani Salem Sonbol, CEO of ITFC, said: “Providing fiscal bandwidth and practical support to SMEs and medical communities in African countries will deliver immediate relief from the supply side restraints on personal protective equipment caused by the pandemic. ITFC has worked extensively since the very start of the COVID-19 outbreak to provide comprehensive support to some of the most vulnerable countries.

The multilateral arrangement that ITFC is embarking upon with our strategic partners will boost economic activity when and where it is needed most and help many countries maintain food security at a time when global commodity supply chains are being challenged and import activity sharply reduced.”

The Director-General of BADEA, Mr Sidi Ould said: “DFI’s as the Arab Bank for Economic Development in Africa (BADEA), with its partners, has been and will always be; supporting the continent through tough and good times as a reliable, strong and resourceful financial institution.

“And since the COVID-19 pandemic posed drastic challenges that are reshaping the scene of the global economy, we sought that it will require unprecedented cooperation and measures to tackle these challenges.

BADEA has joined the fight against the pandemic by allocating a gross amount of more than USD 500 million in the COPREFA and other initiatives. These allocations will be utilised to ease the negative impacts of the pandemic on African economies and ensure the flow of essential strategic commodities on the continent.”

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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AXA’s Mind Health Report Highlights Importance of Workplace Wellness

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AXA's Mind Health Report Omowunmi Mabel Adewusi

Nigeria’s leading insurance company, AXA Mansard Insurance Plc, has announced the release of the AXA Mind Health Report 2025. This comprehensive study underscores the critical importance of mental health in the workplace and among young people.

According to Omowunmi Mabel Adewusi, General Counsel and Human Resource Director of AXA Mansard, the Mind Health Report is part of AXA’s ongoing commitment to promoting positive mental well-being and reducing stigma through holistic approaches.

She said, “The state of mind health in the world continues to give cause for concern, with a lot of people currently experiencing a mental health condition. This fifth edition of the report shows a worrying trend among our youth.

“We also observe an interesting trend in the workplace that reveals work impacts employees’ mental health either as a source of support or a source of issues.”

The AXA Mind Health Report 2025 reveals significant insights into the mental health landscape, highlighting the challenges that young adults and employees face.

According to the report, 44% of young adults (18-24) currently suffer from mental health conditions, with excessive use of social media and financial instability being major contributing factors.

Additionally, work-related stress, including excessive workload, tight deadlines, and a lack of work-life balance, remains a significant concern for employees.

Adewusi further emphasized the importance of prioritizing mental health in the workplace, explaining that mental health is a crucial aspect of overall well-being. Organizations must implement policies that support their employees.

“For us at AXA, this realization is at the heart of our We Care Programme, which affords our employees benefits such as flexible working hours, access to professional counselling services, monthly health workshops, a supportive work environment, menstrual, extended paternity, and caregiver leave benefits.

“The findings of the AXA Mind Health Report 2025 highlight the urgent need for proactive measures to address mental health issues in the workplace and among the youth. We are calling on business leaders, government agencies, and other stakeholders to foster a wellness culture that promotes positive mental health and supports individuals in reaching their full potential.”

The 2025 study, conducted in collaboration with IPSOS, aims to identify mental health and wellness issues in global society to build solutions to mitigate them. A total of 17,000 respondents from 16 countries participated in the survey.

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Oyo Raises Entry Grade Level for University Graduate Nurses to 10

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By Modupe Gbadeyanka

The entry grade level for nurses in the Oyo State civil service with university degree has been reviewed, the Provost of the Oyo State College of Nursing Sciences, Ibadan, Dr Gbonjubola Owolabi, has revealed.

The review was done by the state government through the Oyo State Civil Service Commission.

Recall that the National Council of Establishment (NCE) at its 43rd meeting in 2022 approved the placement of university graduate nurses on grade level 10.

At a meeting with 21 Nursing Tutors on Wednesday in Ibadan, Dr Owolabi said the state government has moved the category of nurses from grade 8, charging nursing tutors of the institution to be diligent in their duties and imbibe integrity and quality.

“The institution is out to train nursing and health practitioners and churn out quality manpower who can function effectively in community, primary, secondary, tertiary, and industrial health settings.

“I urge you to key into this vision, even as the present administration will not deprive you of your rights,” the provost stated.

Dr Owolabi, who said that the Oyo State government placed priority on integrity and quality, disclosed that “the institution has received necessary accreditations from the regulatory bodies for some courses.”

She lauded Governor Seyi Makinde for approving the promotion of the 21 tutors, saying such a gesture should be reciprocated with dedication to service.

In her vote of thanks, one of the lecturers, Mrs Abiola Elizabeth, lauded the management of the institution, saying the approval from the civil service had further accentuated the priority placed on the health sector by Oyo State government.

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Burundi Introduces Malaria Vaccine Into Routine Immunization Programme

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Malaria Deaths

By Modupe Gbadeyanka

The government of Burundi has taken a critical step towards reducing malaria cases and saving thousands of children’s lives with the introduction of the malaria vaccine into its routine immunization programme.

This followed the arrival of 544,000 doses of malaria vaccines in Burundi in January and the approval of the RTS,S malaria vaccine by ABREMA (Autorité Burundaise de Régulation des Médicaments à usage humain et des Aliments).

The inclusion of the vaccine was made possible with the collaborations of the Ministry of Health, Gavi, the Vaccine Alliance (Gavi), UNICEF, the World Health Organization (WHO), and Dalberg.

At a ceremony on Monday to announce this development, the First Lady of Burundi, Mrs Angeline Ndayishimiye, commended the organisations for supporting her husband’s government to fight malaria in the country.

Malaria remains a major public health concern in Burundi and one of the country’s top health priorities. Malaria is endemic, with two annual peaks (April-May and June) resulting in high transmission levels in some districts.

The latest data from the National Health Information System (SNIS) showed that malaria remains one of the leading causes of morbidity and mortality, with an incidence of 399.1 per 1,000 inhabitants in 2023.

Data analysis revealed that malaria accounted for 20.9 per cent of consultations in 2023 and 59.4 per cent of hospital deaths in 2021.

In Burundi, children under the age of five are the population category most vulnerable to malaria. Of the 4,857,556 malaria cases reported in 2023, children under five accounted for 2,235,481 cases, representing 46 per cent of malaria morbidity.

For this reason, as a key partner, UNICEF is committed to ensuring that every child, especially the most vulnerable, has access to this critical vaccine, alongside other essential health services, to give them a healthier start in life.

“Today marks a significant milestone as we introduce the malaria vaccine in Burundi. This initiative reflects our strong and unwavering commitment to malaria control by combining high-impact strategic interventions and our collective determination to protect our children’s lives.

“By focusing on reducing malaria mortality in children under five, we are taking a critical step towards ensuring a healthier and brighter future for the next generation. This vaccine introduction also brings us closer to a future where no child is lost to this preventable disease. We are paving the way for a malaria-free Burundi,” said Dr Lydwine Baradahana, Minister of Public Health and AIDS Prevention.

“Today, Burundi joins the list of 17 other countries on the African continent to have introduced malaria vaccine into routine immunization with Gavi support.

“Given the devastating impact of malaria, this is a development that will save thousands of young lives, offer relief to families and lessen the burden currently placed on the country’s health system,” the Senior Country Manager for Burundi at Gavi, Mario Jimenez, stated.

UNICEF Representative in Burundi, France Bégin, said, “Every child has the right to grow up healthy and protected from preventable diseases like malaria. The introduction of the malaria vaccine is a historic step, bringing new hope to families in Burundi.”

WHO representative in Burundi, Dr Xavier Crespin, remarked that, “Malaria is the leading cause of morbidity and mortality in Burundi, especially among children.

“With the measures already taken by the government such as Sulfadoxine-Pyrimethamine chemoprevention, the distribution of impregnated mosquito nets and indoor spraying, and now the introduction of malaria vaccination in children aged 6 to 18 months as recommended by the WHO,

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