Musings From Abroad

World Bank disputes alleged cover-up by its IFC division over sexual assault in Kenya

Published

3 months ago

February 6, 2024

Ajay Banga, the president of the World Bank, has denied that the bank’s International Finance Corp (IFC) division attempted to conceal claims of sexual assault at a network of for-profit schools in Kenya that it owned from 2013 to 2022.

When asked about the IFC’s response to an independent investigation into the claims at Bridge International Academies, Banga disputed the notion that the IFC was engaged in a cover-up during a public event hosted by the Centre for Global Development.

Civil society organisations have voiced concern that, up until the World Bank’s Office of Compliance Advisor Ombudsman (Cao) received complaints from parents in 2018 and launched an inquiry, IFC disregarded evidence of child sexual abuse at several of Bridge’s Kenyan schools.

The $13.5 million Bridge equity investment was unloaded in March 2022 as part of a commitment to exit for-profit education, and this month, the IFC Board of Executive Directors is set to publicly discuss an action plan in response to the Cao’s findings.

Although Banga was not selected for the position of World Bank president at the time of the divestment, he will still have to cope with the fallout while trying to improve the lender’s operations.

If a cover-up “is proven to be so, I will take all the action that is necessary, but merely conjecture that is in a public space, I will refuse to sign up. That’s who I am; I’m sorry if you don’t like it.” Banga said.

Banga, who is a former Mastercard CEO has reiterated committed to reducing bureaucracy and increasing the World Bank’s emphasis on enhancing lives.

Related Topics:Ajay Banga Featured World Bank

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Musings From Abroad

China’s Hailiang, Shinzoom to establish vehicle battery installations in Morocco

Published

21 hours ago

May 16, 2024

Ifeoluwa Dada

Hailiang and Shinzoom, Chinese car battery makers, will establish two separate operations in Morocco as the country strives to adapt its burgeoning automotive sector to rising demand for electric vehicles, Moroccan officials announced on Tuesday.

Tanger Tech, the Moroccan northern industrial zone’s development authority, said Hailiang intends to establish a $450 million copper facility on a 30-hectare plot of land. Shinzoom, a subsidiary of Hunan Zhongke, plans to invest $460 million in an anode plant spanning 20 hectares, according to a statement.

In April, the Moroccan government approved Chinese electric battery company BTR New Material Group (835185.BJE)’s plans to build a factory in Tangier to manufacture crucial component cathodes.

Another Chinese firm, CNGR Advanced Material (300919.SZ), plans to develop a cathode plant in Jorf Lasfar, 100 miles south of Casablanca, where the government has set aside 283 hectares for electric battery sectors.

Last year, the Moroccan government and China’s Gotion agreed to examine establishing an electric vehicle battery plant in the country, with a potential investment of up to $6.3 billion. Last month, Industry Minister Ryad Mezzour told Reuters that the Gotion project was moving forward, with conversations over its footprint and location.

Morocco’s strategic location on the Strait of Gibraltar, free trade agreements with important EU and US markets, and existing automotive sector cluster all attract Chinese enterprises.

In 2023, the automotive sector topped Morocco’s industrial exports with $14 billion, a 27% increase. Morocco is home to Stellantis (STLAM.MI) and Renault (RENA.PA) production factories with an annual combined capacity of 700,000 automobiles, as well as a network of local suppliers.

Musings From Abroad

Prince Harry, Meghan treated to street-style dances in Nigeria as their trip winds down

Published

4 days ago

May 13, 2024

Ifeoluwa Dada

On Sunday, Prince Harry and his wife Meghan were treated to street-style dances in Lagos, Nigeria’s commercial capital, where they announced a partnership between their Archewell Foundation and the non-profit Giants of Africa, which utilizes sports to empower young people.

The Duke and Duchess of Sussex are making their first visit to Nigeria, where they were welcomed by the country’s chief of defence staff. The couple watched basketball practice at Ilupeju Senior Grammar School on Lagos Mainland, where Harry participated in ball-bouncing drills and shot a hoop.

“What you guys are doing here at Giants of Africa is truly amazing,” he said. “The power of sport can change lives. It brings people together and creates community and there are no barriers, which is the most important thing.”

The couple watched basketball practice at Ilupeju Senior Grammar School on Lagos Mainland, and Harry stepped on the court for some ball-bouncing drills and to shoot a hoop.

Former Toronto Raptors star Masai Ujiri, president of Giants of Africa, wished Meghan a happy Mother’s Day and said his organization was uniting communities and uplifting young people through sport, especially. Archewell Foundation and Giants of Africa will construct a basketball court in Nigeria’s capital Abuja.

“Talk about full circle again – never did I think we would be able to be here all those years later supporting the expansion of this incredible organization,” she said.
Harry and Meghan were set to round off their Lagos trip by attending a reception for a local charity. The couple live in the United States with their two children after Harry gave up working as a member of the royal family in 2020.