Author: The Exchange

• Waste Management in Uganda is beset with the same challenges that most developing countries face.
• Tree Adoption Uganda (TAU) is a youth-based non-governmental organization that operates as a non-profit.
• WasteAid expanded its reach into Uganda earlier this year, launching programs to support a more robust circular economy and address the country’s growing waste problem.

Waste Management Challenges in Uganda

Waste Management in Uganda is beset with the same challenges that most developing countries face. Rapid urbanisation, a growing population, and limited resources have overexerted legacy waste disposal systems.

Urban waste collection in Uganda is 600,000 tons, of which 40 percent is collected while the remaining 60 percent is dumped in open areas, water bodies, or informal dumps. The uncollected waste leads to environmental degradation and poses serious health risks.

In addition, poor infrastructure, a lack of investment, and low community interest in proper waste disposal create a perfect …

• As COP29 starts in Baku, Azerbaijan, African nations are set to drive the climate agenda, focusing on climate finance and redefining economic metrics to recognize the continent’s green assets.
• Africa’s ‘green wealth’ push seeks to quantify Africa’s contributions to global environmental health, valuing its vast carbon sinks, natural resources, and ecosystems.
• This initiative, led by the AfDB in an alliance with the Republic of Congo and Kenya, could reshape Africa’s economic standing.

The annual United Nations climate conference, COP29, opens with a strong emphasis on climate finance, especially for developing nations that bear a disproportionate burden of climate change impacts.

At the forefront, African nations are pushing for increased funding and support, which is essential to advancing their National Adaptation Plans and Nationally Determined Contributions as outlined in the Paris Agreement.

This year, Africa, represented by the African Development Bank (AfDB) and a coalition of governments, is …

• Across the Atlantic, Africans also have a vested interest in the outcome of the US election.
• The latest polls show that the current vice president and Democratic nominee, Kamala Harris, has a slight, one-point lead, with Republican and former president Donald Trump a close second.
• The election outcome will have a number of implications for African economies, given that the US is one of the main trading partners.

On Tuesday, November 5, Americans will vote to elect the 47^th president of the United States of America. The latest polls show that the current vice president and Democratic nominee, Kamala Harris, has a slight, one-point lead, with Republican and former president Donald Trump a close second. This is a neck-and-neck race with no outcome, and the world waits to see who will lead the last global superpower from 2025 to 2029.

Across the Atlantic, Africans also have a vested …

• South Africa’s budget update has revealed that public finances face a mounting strain. 
• The tax revenue for the current fiscal year is projected to be $1.27 billion.
• President Cyril Ramaphosa has vowed to transform the country into a giant construction site.

South Africa’s Budget Reveals Strain to Public Finances

South Africa’s latest budget update has revealed that public finances are facing mounting strain, emphasizing the urgency for the newly formed coalition government to attract additional investment into the region’s largest economy.

The medium-term budget policy statement presented by Finance Minister Enoch Godongwana on Wednesday indicates that the fiscal deficit is anticipated to expand to 5 per cent of the gross domestic product in the fiscal year ending in March. This figure is an increase from the 4.5 per cent predicted in February and exceeds the predictions of most economists.

The rand weakened with rising bond yields. The nation’s currency fell …

• Sudan has stepped forward, increasing its pledge to $3 million in the African Development Fund.
• Sudan’s pledge aligns it with other African nations, which have each committed to raise at least $1 million to the fund by 2025.
• With backing from The Gambia, Liberia, Sierra Leone, and Ghana, Africa’s commitment to funding its key projects is strengthening.

African nations are coming together to secure a $25 billion replenishment for the African Development Fund (ADF), an ambitious target that signals a continent-wide push toward self-driven financing for projects.

In the latest update, Sudan has stepped forward, increasing its pledge to $3 million in this collective movement. With backing from countries including The Gambia, Liberia, Sierra Leone, and Ghana, Africa’s commitment to funding its development projects is strengthening.

As governments, led by the African Development Bank (AfDB), advocate for this replenishment, they set a critical precedent for financial autonomy in achieving Africa’s …

• Shelter Afrique Development Bank (ShafDB) and the Bourse Régionale des Valeurs Mobilières (BRVM) will tap Green, Sustainability-linked, and Social (GSSS) bonds to finance housing.
• Green bonds will fund eco-friendly housing projects while social bonds will finance projects that prioritize affordability and accessibility.
• At the same time, sustainability-linked bonds will support both objectives, ensuring a comprehensive strategy for tackling the current housing crisis.

Shelter Afrique Development Bank (ShafDB) has taken a new step toward addressing affordable housing needs in Africa through a partnership with the Bourse Régionale des Valeurs Mobilières (BRVM), the regional stock exchange for the West African Economic and Monetary Union (WAEMU).

In a Memorandum of Understanding (MOU), the Pan-African institution focused on affordable housing, signed the deal on the sidelines of the IMF-World Bank Annual Meetings in Washington, D.C., aiming to mobilize capital for affordable housing projects across the continent, particularly in WAEMU’s eight member countries.

With Africa’s …

• To maintain any sort of forward trajectory – to ensure our art remains highly valued locally and internationally – it is of vital importance that we, as the private sector, continue to support the collectors and the artists who are helping to grow interest in the sector.

A diversified portfolio is one of the key metrics of investment success. The greater this diversity, the more likely it will outperform the market, and the savviest investors are often looking for new opportunities: the rising stars among new asset classes.

Investment in art is certainly not a new concept, but what makes it unique is that it often has low correlation with other major asset classes, meaning lower overall price volatility. It’s the sure bet, sometimes with incredible escalating value, especially for those opting to invest in blue-chip artists renowned artists whose work demands high prices in the art market.

However, not …

• A networking program in Dubai draws industry leaders for partnership opportunities and insights into eco-friendly trends.
• Industry experts explore the latest global trends, from eco-friendly wood manufacturing techniques to sustainable interior design solutions.
• Investors seek to establish business deals that open doors for expansion into new markets.

The Dubai WoodShow, one of the premier events in the global wood and woodworking machinery industry, recently hosted a networking program at Radisson Blu Hotel Dubai, setting the stage for innovative collaborations and cutting-edge advancements.

The event drew over 50 companies from diverse sectors, such as woodworking machinery, furniture tools, and accessories, and aimed to foster connections, share insights, and explore strategies that address the evolving needs of the wood industry.

Dawood Al Shezawi, President of Dubai WoodShow, remarked that the event supports Dubai’s growing reputation as a global business hub by enabling industry stakeholders to exchange ideas and forge strategic partnerships.…

• Authorities need to rework Senegal’s program with the IMF after an audit revealed a higher budget and debt deficit than previously reported.
• During former President Macky Sall’s rule, a review of Senegal’s finances showed that the country’s public and budget deficit was more than 10 percent of the gross domestic product, almost double the 5.5 percent reported under Sall.
• Shortly after taking office, President Faye initiated a review of Senegal’s natural resources sector.

Reworking Senegal’s program with the IMF

Senegal needs to rework its program with the International Monetary Fund after an audit revealed a higher budget and debt deficit than previously reported.

Senegalese authorities hope to meet all the prerequisite conditions to reach a new agreement with the IMF by Q1 2025. This is according to Senegal’s Finance Minister Cheikh Diba, who attended the IMF’s annual meeting in Washington.

“The current program must be updated,” Diba said. “We’re in …

• Global economic growth will emanate from powerhouse BRICS economies over the next five years as per the IMF predictions.
• The ten BRICS nations comprise more than a quarter of the world economy and almost half the global population.
• China will contribute most significantly to global growth over the next half-decade, with its 22 per cent share outpacing all G7 countries combined.

The countries comprising BRICS— Brazil, Russia, India, China, and South Africa, with five new members—are an informal grouping of emerging economies hoping to increase their sway in the world order.

The BRICS group has become a major political force in the last two decades, building on its desire to counter Western influence in global institutions.

BRICS’ 2024 expansion has come with a range of geopolitical implications. It forms a rising economic and demographic heft: the ten BRICS nations comprise more than a quarter of the world economy and almost …