Africa: How Finance Can Be Part of the Solution to the World’s Biodiversity Crisis

[ad_1] More than half of the world's total GDP is at least moderately dependent on nature. Yet arguably, there is no economy (or life) without nature. A quarter of animal and planet species are now threatened, and 14 out of 18 key ecosystem services - including fertile soils to grow food, flood and disease control and regulation of air and water pollution - are in decline. These ecosystem services are essential and have no easy substitutes. Despite this, almost US$7 […]

October 24, 2024 1

Africa

Africa: Enhancing Polio Detection With Advanced Sequencing Technology

[ad_1] Brazzaville — The African region, declared free of indigenous wild poliovirus in August 2020, faces an urgent threat: the intense transmission of type 2 variant poliovirus (cVDPV2). This year alone, 290 poliovirus detections have been reported in 23 African countries. As countries ramp up vaccination efforts to protect children against the virus, one of the most critical components of the response is early and accurate detection. To enhance the effort, the World Health Organization Regional Office for Africa (WHO […]

October 24, 2024 2

Africa

Africa: The Deepfake Is a Powerful Weapon in the War in Sudan

[ad_1] While still rudimentary - voice-cloning models can't yet relay convincing Sudanese dialects - the use of Deepfakes is now routinely used on Sudan's violent, if bloodless, alternative battlefield: social media. In April 2024, an image of a building engulfed in flames went viral on Facebook in Sudan. The image was widely shared with captions that claimed the building was part of Al-Jazeera University in Wad Madani city, and the Sudanese army had bombed it. Many political leaders and public […]

October 24, 2024 2

Africa

Africa: Angola Proposes Integrated Energy Action Plan for Africa

[ad_1] Washington — The Angolan Government advocates that the World Bank (WB) develop an Integrated Electricity Action Plan for Africa, over a period of five years (2025-2029), with a view to reducing the energy deficit that the continent faces. According to the minister of Planning and governor of Angola at the World Bank, Victor Hugo Guilherme, "it is particularly urgent that this plan be developed, because current data indicate that more than 600 million Africans do not have access to […]

October 24, 2024 1

News

Nigeria: Transcorp Hotels Reports 67 Percent in Revenue Growth to N48.49bn

[ad_1] Transcorp Hotels Plc, yesterday on the Nigerian Exchange Limited (NGX) announced its third quarter (Q3) ended September 2024 unaudited result and accounts with a strong performance from top to bottom. The hospitality subsidiary of Transcorp Group announced N48.49 billion revenue in Q3 2024, about 67 per cent increase from N28.97 billion in Q3 2023. The remarkable revenue growth is fueled by strategic pricing initiatives and robust sales efforts across all business segments, with a particular emphasis on the targeted […]

October 24, 2024 3

News

Nigeria: Transcorp Hotels Records 67 Percent Revenue Growth, Profit Up By 192 Percent in Q3

[ad_1] Transcorp Hotels Plc, the hospitality subsidiary of Transcorp Group, has announced its Q3 results for 2024. The company reported a strong performance with a 67% revenue growth from N28.97 billion in Q3 2023 to N48.49 billion in Q3 2024 and a 192% increase in profit before tax from N5.64 billion in Q3 2023 to N16.44 billion in Q3, 2024. The organisation said the remarkable revenue growth is fueled by strategic pricing initiatives and robust sales efforts across all business […]

October 24, 2024 2

Africa

Africa: The IMF Just Made the Case for Its Own Irrelevance

[ad_1] Washington DC — On Friday the 11th, the IMF announced policy changes that will save developing countries $1.2 billion per year. Despite the self-congratulations and fanfare, these reforms are only a tiny fraction of what campaigners had been asking for -- and an even smaller share of what the Global South needs. This month, the International Monetary Fund (IMF) had an opportunity to end one of its most reviled policies and lift billions of dollars of debt off the […]

October 23, 2024 2

Africa

Africa: Governance Stalls in Africa As Security and Democracy Deteriorate, Threatening Progress in Development – 2024 Ibrahim Index

[ad_1] The Mo Ibrahim Foundation has released the 2024 Ibrahim Index of African Governance (IIAG), the latest iteration of the biennial dataset assessing governance performance and trends in the 54 African countries over the decade 2014-2023. Collected from 49 independent sources, with some data commissioned by the Mo Ibrahim Foundation, the IIAG is based on 322 variables clustered in 96 indicators, organised under 16 sub-categories and four main categories: Security & Rule of Law; Participation, Rights & Inclusion; Foundations for […]

October 23, 2024 2

Africa

Africa: Nigeria’s Weaker-Than-Expected Activity Slows Sub-Saharan Africa’s Economic Growth – IMF

[ad_1] In contrast, growth in the Middle East and Central Asia is projected to pick up from an estimated 2.1 per cent in 2023 to 3.9 per cent in 2025 The International Monetary Fund (IMF) has said the growth forecast in Sub-Saharan Africa has been revised downward by 0.2 percentage points for 2024 and upward by 0.1 percentage points for 2025. The revision reflects slower growth in Nigeria, amid weaker-than-expected activity in the first half of the year, the fund […]

October 23, 2024 1

Business and Finance