African campaigners say COP26 conclusions fail to revitalize Africa's green future
November 13, 2021, 1:23 am

African campaigners say COP26 conclusions fail to revitalize Africa's green future

Africa-Savannah-National Park/Pixabay

The Xinhua reported that African campaigners said on Friday, the high-sounding resolutions adopted at the conclusion of the 26th UN Climate Change Conference (COP26) that took place in Glasgow, Scotland failed to add sparkle to Africa's quest for a future that is green and inclusive.

Augustine Ndjamnshi, chair of the Political and Technical Committee at the Nairobi-based Pan African Climate Justice Alliance (PACJA) said the continent's green aspirations were not fulfilled at the global climate summit.

Ndjamnshi said in a statement issued in Nairobi: "After duly considering two weeks of debates, negotiations and decisions, we wish to express disappointment at lack of foresight and determination by parties at COP26 to squarely address the climate emergency in Africa."

He said that African green lobby groups that attended COP26 were concerned by lackluster attention to the continent's unfolding climate crisis that is threatening the survival of local communities and their habitats.

In particular, Ndjamnshi regretted that the Glasgow climate summit did not outline specific measures that could be rolled out to boost adaptation financing in Africa, address loss and damages linked to abrupt temperature rise.

He noted that COP26 failed to exert sufficient pressure on the industrialized north to honor financial commitment and boost climate response in Africa amid economic and social disruptions triggered by extreme weather events.

Ndjamnshi said that COP26 and other multilateral processes have not adequately delivered climate justice to Africa adding that greening the continent's agriculture, infrastructure, energy and tourism sectors remained a major priority.

He lauded pledges made by several rich nations at COP26 to halt deforestation and cut down on methane emission adding that their impact will be felt in Africa if they are accompanied by practical measures to tackle climatic shocks like droughts, wildfires, cyclones and floods.

Godwin Ojo, a Nigerian green advocate said that Africa is yet to witness genuine commitment by advanced economies to address catastrophic climate impacts like water stress, hunger and energy insecurity that were weighing down on livelihoods.

Ojo said Africa was ready to decarbonize its key economic sectors but was constrained by failure among rich economies to deliver sufficient financial and technical support.

Source: xinhua

Johnson and Johnson says it is planning to split into two companies Joe Biden and Xi Jinping to hold a virtual summit Monday evening

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.