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African Union seeks $100bn of IMF’s Special Drawing Rights in major shift
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The African Union proposed that the International Monetary Fund consider issuing $650 billion in special drawing rights to combat the climate crisis.
The 55-member group also demanded that at least $100 billion in existing SDRs be channelled to Africa through institutions such as the African Development Bank, with a group of donors to be established by the time the COP28 climate summit starts on Nov. 30.
Multilateral development banks should be recapitalized to provide at least $500 billion in concessional finance a year, it said.
The list of demands in an updated declaration from the continent’s first climate summit are considerably stronger than an initial announcement on Sept. 7 in Nairobi, Kenya, which focused on debt relief and climate finance to fund renewable energy.
Government delegations argued late into the night earlier this week on the wording of the statement that will serve as their unified position at COP28 in Dubai.
“We call for collective global action to mobilize the necessary capital for both development and climate action,” the African Union said in the statement released on Friday.
Africa, the world’s least developed continent, has barely contributed to the greenhouse gas emissions that are driving climate change, but its nations are among the hardest hit by cyclones, drought and floods. That, coupled with a debt burden exacerbated by the Covid-19 pandemic, is hindering economic growth.
Fifteen African heads of state attended this week’s summit in Nairobi, according to information from the organizers. United Nations Secretary-General Antonio Guterres and Ursula von der Leyen, president of the European Commission, were also present.
Other changes from the earlier declaration include:
Mobilizing $30 billion to invest in water projects by 2030
Drawing attention to the “inordinate borrowing costs” levied on poor nations that are a “root cause of recurring debt crises”
A revaluation of the gross domestic product of Africa to reflect its natural capital such as carbon sinks in its forests.
source: Bloomberg
The Tema Regional Police Command has arrested a 32-year-old man for allegedly posing as a soldier and extorting money from unsuspecting members of the public at Ashaiman.
The suspect, identified as Bright Atsu Kudiabor, was arrested by the Ashaiman Police on Wednesday, September 16, 2026, at about 7:00 a.m.
According to the Police, he was arrested at an area known as “I Shall Return”, where he was allegedly parading himself as a soldier and demanding money from people.
The Police said Kudiabor, who is an ex-convict, was initially arrested by personnel of the Ghana National Fire Service in Ashaiman with assistance from other members of the public.
A search conducted on him after he was handed over to the Police reportedly led to the recovery of a set of military camouflage uniform.
The suspect is currently in Police custody and assisting with investigations.
The Tema Regional Police Command said he would be processed for court after investigations are completed.
The Police urged the public to remain vigilant and report anyone who falsely presents themselves as a soldier or a member of another security agency to deceive or extort money from the public.
By: Jacob Aggrey
Volta Regional Minister, James Gunu, says the Volta Region holds enormous agricultural potential and efforts must be geared towards connecting farmers to the needed resources to unlock that potential.
He said focus must be on linking farmers to resources, technology, financing and markets to increase production, create jobs and build sustainable livelihoods.
Hon. Gunu made the remarks at the national launch of the Ghana Tomato Self-Sufficiency Initiative (GHATSI) held at Anloga in the Volta Region on Tuesday, September 15.
The initiative, under the theme “Produce at Home. Feed the Nation. Export the Surplus,” seeks to boost local tomato production, processing and marketing while reducing Ghana’s heavy reliance on imported tomatoes.
The launch was attended by the Minister for Food and Agriculture, Eric Opoku, his Deputy, John Setor Dumelo, Feed Ghana Coordinator, Bright Demordzi, Members of Parliament, traditional leaders, MMDCEs, farmers and other stakeholders.
Mr.Gunu expressed appreciation to the Minister for Food and Agriculture for the support announced for the region, including two excavators, 200 cartons of organic fertiliser, and GH¢200,000 for Ms. Kuatudzo Esther Dela, a tomato farmer and processor from Ziope.
He described the initiative as an important step towards making agriculture a stronger driver of food security, job creation and economic growth in the Volta Region.
By Edem Mensah-Tsotorme
