Good governance is fundamental for the prosperity of every nation, and this principle extends to the corporate sphere, where ‘Corporate Governance’ holds significant importance. Effective governance practices ensure transparency, accountability, and ethical decision-making, which are essential for sustainable growth and success in both public and private sectors.

In the corporate world, adhering to sound principles of corporate governance helps in fostering investor confidence, mitigating risks, and enhancing overall performance. By upholding the principles of good governance, organizations can build trust with stakeholders, maintain a competitive edge, and contribute to long-term success and sustainability.

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The call for good governance has been put on the front burner in Nigeria with the hunger protest by citizens tagged #EndBadGovernance. Although the protest turned bloody in some parts of the country, resulting in the looting of supermarkets and shops and vandal of public facilities, it has shown the disconnection between the government and the citizens.

The violent turn of events highlights the deep-seated frustrations and grievances of the people towards the authorities. It serves as a stark reminder of the urgent need for transparency, accountability, and responsiveness from the government to address the issues that have led to such drastic actions by the populace. The unrest underscores the critical importance of heeding the calls for reform and ensuring that the concerns of the citizens are heard and addressed to prevent further escalation of tensions.

Sadly, the situation has further dirtied the reputation of the country among the League of Nations. However, after several calls by citizens, President Bola Tinubu had to address the nation calling for calm and understanding and urging citizens to end the protest. In his address, he reeled out some of the initiatives his administration is doing to stabilize the economy and reduce hunger, poverty, and others.

As commendable as this is, it shows how the government has not been proactive and not even deliberate about strategically communicating with the citizens and stakeholders. Successive governments have also followed this path; they wait until there is an outburst from the citizens before they address the nation. Then they start reeling out the interventions they are doing and how citizens can access them.

This is not just peculiar to the federal government and its agencies, states, and local government; the other organs of government are not left out.  They claim to disburse huge amounts of funds for citizens, but the expected beneficiaries are not aware of it. The effort is like ‘winking in the dark’ and it has always been counterproductive for the country.

Citizens don’t trust the government and the government doesn’t engage citizens appropriately. Town hall meetings met to boost the government-citizen relationship have become a gathering of politicians.

Government spokespersons are commonly seen as the mouthpieces of the political party in power who mostly blame the opposition for campaign promises not yet filled instead of clearly communicating their policies and programmes. 

This present government won on the mantra of ‘Renewed Hope’ but after the election, it has failed to deliberately leverage strategic communications to engage citizens and stakeholders to reposition the country.

Why is strategic communications important for Nigeria? Strategic communications is about communicating the best message, through the correct channels, to the right people, at the right time and using feedback from this process to stay focused on set goals. Conflict, insecurity, and other challenges facing the country will reduce when the government becomes more transparent and deliberate about communicating to the citizens and not just political party members.

The government also needs to understand that if they don’t listen to citizens and communicate on time, false news or negative perceptions may dominate the public agenda. Listening and responding on time help build trust. This is similar to how corporate organizations operate; if they don’t treat the feedback, they get from their customers timely and appropriately it will have a negative impact on their reputation and sales.  

In essence, good communication is essential for good governance to be attained. The World Bank in a blog post once said, “When trust in governments around the world is at a historic low, and a myriad of challenges continue to overwhelm leaders, it’s imperative for government agencies to revamp their strategic communications approach.”

It is important to state how a country projects or positions itself will give hope to the people and attract potential investors. Reputation is very important and most developed economies have strategically protected their reputation and positioned their country as a tourist destination or manufacturing hub.  An example of this is Dubai which is generating massive revenue and investment from tourism and China which is making a huge impact in manufacturing.

Citizens expect the government to fulfill its promises, show care and concern, listen to their needs, and communicate effectively with them. In return, citizens are willing to support government initiatives and policies, which ultimately contribute to securing the future of the country. This symbiotic relationship between citizens and the government is essential for a thriving and stable society where both parties work together towards common goals and shared prosperity. By fostering trust, understanding, and collaboration, governments can better address the needs of their citizens, leading to a more harmonious and successful nation.

In essence, for an effective government, it is crucial to stay informed about the news and public sentiment, actively listen to the concerns of citizens, develop well-informed policies and strategies, maintain transparency, accountability, fairness, and responsibility in decision-making processes, and take a proactive approach in engaging with citizens and key stakeholders through strategic communication. This ensures that the government remains connected, responsive, and aligned with the needs and expectations of the public, fostering a relationship of trust and collaboration that is essential for good governance and effective policymaking.

Written by: Dr. Omolaraeni Olaosebikan is a strategic communications expert and the CEO of McEnies Global Communications, a leading strategic integrated marketing communications agency in Nigeria.

Africa’s debt stocks have grown significantly in the past decade. Understandably, African governments took advantage of historically low interest rates in the 2010s and borrowed heavily from international capital markets and China.

However, debt has recently become a lot more expensive. Since 2020, the impacts of COVID-19 and the on-going Ukraine war, coupled with worsening climate conditions have resulted in African governments having credit-rating downgrades, which consequently led to rapidly increasing their borrowing costs and made tapping international debt markets prohibitively expensive.

According to data by United Nations Conference on Trade and Development (UNCTAD), public debt in Africa reached USD 1.8 trillion in 2022.  In 2024, African countries will pay US$163 billion in external debt service, according to the African Development Bank.

One in five people globally live in countries that are in debt distress or at risk of it. Two-thirds of low-income countries – most of them in Africa – fall into this category, while eight of the nine countries currently in debt distress are on the continent, according to the United Nations Economic Commission for Africa (UN ECA) 2023.

Some of the factors that have contributed to the mounting debt crises in Africa are population explosion and rapid urbanization, massive infrastructure needs, declining availability of official development assistance and concessional financing.

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Need for reforms

Recently, there have been collective clamor by African ministers of Finance, Planning and Economic Development for decisive action to reform the global finance architecture in light of the mounting debts and to spur the investments needed for achieving sustainable development and climate goals around the world.

Pundits hold that the global financial system is structurally unfair to developing countries in general and more so to African countries in particular and that some crucial reforms are urgently needed to address the problem of Africa’s mounting debt stock.

According to the Italian Institute for International Political Studies (ISPI, 2020), offering African countries debt instruments with more favorable terms or cash, in exchange for existing debt, will not only provide immediate liquidity but also address debt sustainability concerns in the long term.

In the absence of better mechanisms for debt-distressed countries in Africa, more governments will struggle to service their obligations and limit their ability to invest in providing the necessary development needs of their countries. This is even more pertinent considering the need for enhanced effort in attending to the challenges of climate change in the region, through effective climate adaptation and mitigation measures.

Africa’s multilateral institutions

In the light of these challenges, there is the need for practical engagements anchored by African-led Development Finance Institutions (DFI’s) such as the African Development Bank, to reform the global financial architecture and ensuring a transition from multilateralism to a plurilateral system of the global financial system – one that is more nimble, more inclusive, more flexible and realistic in responding to the changing nature of challenges that African countries face today.

Aligned with these, there is also the critical role of sector specific DFI’s such as Shelter Afrique Development Bank and other relevant institutions that form part of the founding partners of the Alliance for African Multilateral Finance Institutions (AAMFI) – established under the auspices of the African Union, to support the implementation of Agenda-2063.   Its formation underscores Africa’s commitment to self-reliance and sustainable economic development.

It’s believed that AAMFI , which is an alliance of African-owned and controlled African Multilateral Financial Institutions (AMFIs) whose membership also include African Trade and Investment Development Insurance (ATIDI), African Export – Import Bank, Trade and Development Bank Group, Africa Finance Corporation, African Reinsurance Corporation (Africa-Re), ZEP-RE (PTA Reinsurance Company), East African Development Bank (EADB), and the African Solidarity Fund (ASF) will address Africa’s development finance needs, advocate for Africa on global finance issues, develop innovative finance tools and support sustainable finance strategies.

AAMFI is in a pole position to lead the financial reforms on behalf of the continent. And as an adage goes, if you want to go fast, go alone. If you want to go far, go together.

Written by Muhammad Mustapha Gambo, PhD: The writer is with the Policy, Research, Partnerships and Advisory Services Unit at Shelter Afrique Development Bank and 2023 Fellow at the Asia Global Institute.

Menstrual health is not just about periods; it’s about breaking the cycle of exclusion and empowering the future of Africa – one girl at a time.

Empowering women and girls who menstruate worldwide starts with breaking the silence around periods. Eno, a 14-year-old girl from a remote community in the south, shrinks when her period arrives each month. Shame and fear are a constant part of her experience. “At school, whispers follow me. They call me ‘dirty’ because I can’t afford pads. I use the white piece of cloth my mother gave me and the extra layer of pad I had sewn on our neighbor’s machine using pieces from his shop.” Eno’s story, though heartbreaking, is far from unique. Across Africa, millions of girls and women face a hidden crisis: period poverty. 

Period poverty refers to the inability to afford and access menstrual products, sanitation and hygiene facilities, and education and awareness to manage menstrual health. Globally, more than two billion people around the world menstruate monthly.

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Menstruation, a healthy and natural biological process continues to be shrouded in silence and stigma across many parts of Africa. This silence perpetuates a cycle of neglect and exclusion, where the menstrual health needs of women and girls are ignored, leading to significant physical and mental health issues. 

Daily, women and girls are unable to afford sanitary pads, forcing them to resort to unhygienic alternatives like old rags, leaves, old clothes, cotton wool, toilet paper, newspaper, and make-shift hygienic pads. This lack of access not only affects their physical health but also their mental well-being, as they experience anxiety, shame, and isolation during their menstrual cycles. With limited to no access to safe water and sanitation to manage their menstrual health and hygiene, these women and girls who cannot afford menstrual products do not live well within their rights and freedoms as their menses interrupt their day-to-day flow.

Human-Centered Stories 

To truly understand the impact, we must listen to the voices of those affected. Nike, a 15-year-old girl from a rural community in Ogun State shared, “I have to stay home when I have my period because I don’t have pads. I miss out on school and feel ashamed.” Rukkayat, another young woman from a community in Abuja stated, “The stigma around menstruation is so strong that I can’t even talk to my teachers about it. It feels like a dirty secret. I feel dirty walking around my school. So, I’d rather stay at home when I’m on my menses to endure the pain and take care of myself.” These anonymous quotes reflect a common reality for many girls and women across Africa, highlighting the urgent need for change.

Addressing Stigmas and Period Poverty 

Period poverty stems from persistent stigmas around menstruation. These stigmas include the belief that menstruating women are impure, leading to their exclusion from everyday activities and social interactions. Such beliefs not only undermine women’s confidence but also reinforce gender inequality. Periods, already a source of physical discomfort, become a breeding ground for anxiety, shame, and isolation. This can lead to depression, decreased self-esteem, and a reluctance to seek help. The link between menstrual health and mental health is undeniable.

To combat these stigmas, sensitization initiatives, and project outreaches need to provide menstrual products and education. These programs will empower girls with knowledge and resources, breaking the silence and changing societal attitudes toward menstruation. 

Breaking the Cycle: Investing in Solutions, Empowering Futures 

So, how can we bridge the gap between menstrual health and mental health by showing one can’t do without the other? By recognizing that menstrual health is intrinsically linked to mental well-being, we can create holistic approaches that address both.

• Combat Stigma Through Education: Open conversations are key. Educational programs that address menstrual hygiene and dispel myths can empower girls and communities. Schools and communities should provide comprehensive menstrual education that includes mental health support.
• Invest in Sustainable Solutions: Supporting the development and distribution of affordable, reusable menstrual products is crucial. Access to menstrual products should be seen as a basic human right, and efforts should be made to ensure that all girls and women have the necessary resources.
• Build Sanitation Infrastructure: Safe and private sanitation facilities in schools and public spaces are essential for dignity and hygiene management.
• Champion Advocacy: Investing in menstrual health advocacy at the local and national level can lead to policy changes that prioritize girls’ needs. From providing dignity kits to advocating for safe and private facilities, menstrual hygiene management is crucial for their well-being and development. Through advocating for women and girls, we can ensure every girl has the knowledge and resources she needs to thrive. 

By investing in menstrual health, we invest in a future where girls like Eno, Nike, and Rukkayat can access education, participate fully in life, and thrive. Through increased conversations and heartfelt advocacy, the Going North Project initiative is addressing the urgent need for quality healthcare, education, and the eradication of period poverty through targeted outreach programs.

The Going North Project aligns with the Sustainable Development Goals (SDGs) of Education, Health, and Gender Equality, which are crucial for fostering a brighter future and empowering girls – one at a time.

Let us address the urgent need for accessible menstrual health resources and education, highlighting how this issue impacts individuals globally. This advocacy inspires and reminds us that menstrual equity is essential for a just and healthy world. Together, we can break the stigma and ensure menstrual equity for all.