Africa: World Bank Slightly Cuts Growth Projections for Africa in 2024

[ad_1] The World Bank has revised the economic growth projection for Sub-Saharan Africa to 3 per cent from 3.4 per cent as earlier indicated in April, according to the latest Africa Pulse report. The slight cut is mainly attributed to large countries that continue to drag down growth in the region, most notably Sudan which saw a collapse of economic activity of 20 per cent in 2023 and is estimated to collapse by 15 per cent in 2024 as a […]

October 16, 2024

Africa

Africa: Naira Among Worst-Performing Currencies in Africa, Depreciates By 43% – World Bank

[ad_1] The Nigerian naira has been listed as one of the worst-performing currencies in Sub-Saharan Africa in 2024, according to the World Bank's latest Africa's Pulse report. As of August 2024, the naira had depreciated by approximately 43% year-to-date, ranking it among the weakest currencies alongside the Ethiopian birr and the South Sudanese pound. The decline is attributed to surging demand for U.S. dollars in Nigeria's parallel market, limited dollar inflows, and slow foreign exchange disbursements by the central bank. […]

October 16, 2024

News

South Africa: Minister Denies Olympic Joyride Claims – South African News Briefs – October 16, 2024

[ad_1] Minister Denies Olympic Joyride Claims Sport, Arts, and Culture Minister Gayton McKenzie has expressed frustration over media reports claiming he took an extravagant trip to the Paris Olympics, costing taxpayers R800,000, reports EWN. The expense was disclosed in a parliamentary response from his department. McKenzie clarified that the trip, which also included eight officials at a total cost of R1.8 million, was for official meetings to benefit South Africa. He said that he attended six meetings in Paris, visited […]

October 16, 2024

News

Rwanda: Investors Look to Exploit Rwanda’s Popular Twin Lakes

[ad_1] Investors are increasingly eyeing tourism and hospitality projects along Rwanda's twin lakes of Ruhondo and Burera, aiming to transform the area into a vibrant tourism hub, The New Times has learned. Located in the northern part of Rwanda, near Musanze District, the twin lakes offer views of the surrounding steep hills and waterfalls. Visitors can also enjoy panoramic views of the Volcanoes National Park, home to the mountain gorillas. The park includes five volcanoes: Muhabura, Sabyinyo, Karisimbi, Bisoke, and […]

October 16, 2024

Africa

Africa: Conflict, Climate Change Increase Hunger and Malnutrition Across Africa

[ad_1] Geneva — While the world's farmers produce more than enough food to feed the planet's nearly 8 billion people, United Nations Secretary-General Antonio Guterres said "hunger and malnutrition are a fact of life" for billions. In a message in advance of World Food Day on October 16, Guterres said 733 million people globally are short of food because of "conflict, marginalization, climate change, poverty and economic downturns." The Food and Agriculture Organization was established 79 years ago on October […]

October 16, 2024

Africa

Africa’s Farming Future Could Include More Digital Solutions

[ad_1] Nairobi, Kenya — More than 400 delegates and organizations working in Africa's farming sector are in Nairobi, Kenya, this week to discuss how digital agriculture can improve the lives of farmers and the continent's food system. Tech innovators discussed the need for increased funding, especially for women. In past decades, African farmers have struggled to produce enough food to feed the continent. DigiCow is one of the tech companies at the conference that says it has answers to the […]

October 16, 2024

Africa

Africa: The New Public Health Order – Charting Africa’s Path to Health Sovereignty

[ad_1] The Africa CDC was the first to declare the current mpox outbreak in some African countries as a public health emergency of continental security. This was followed by WHO's declaration of mpox as a public health emergency of international concern. In addition to mpox, there is a Marburg Virus Disease outbreak in Rwanda, which has killed at least 12 people and spread to other countries. Indeed, disease outbreaks and reemerging diseases have placed immense strain on Africa's health systems. The unprecedented scale, frequency, and scope of […]

October 16, 2024

Africa

Africa: How African Women Are Protecting Communities From Devastating Droughts

[ad_1] The United Nations Convention to Combat Desertification (UNCCD) and the Food and Agriculture Organization of the United Nations (FAO) have released a new global report today - the International Day of Rural Women - calling for better recognition and support for women-led efforts to protect vulnerable communities from the devastating effects of drought. The report highlights 35 promising practices showcasing the efforts of organisations and community members, particularly women leaders, in combating, mitigating, and responding to drought and its deleterious impacts. This […]

October 15, 2024

Africa

Africa: Seplat – ESG, Regulatory Frameworks Driving Energy Investments in Africa

[ad_1] Abuja — The Chief Financial Officer, Seplat Energy, Mrs. Eleanor Adaralegbe has argued that Environment, Social and Governance (ESG) standards and regulatory frameworks in African countries significantly shape oil and gas investments on the continent. Adarakegbe, who said this during a panel session at the Africa Oil Week (AOW) Conference & Exhibitions in Cape Town, South Africa, noted that these factors influence costs, compliance requirements, and project risk profiles. Eleanor, while speaking on the theme 'ESG Investing: What strategies […]

October 15, 2024

Business and Finance