Monday, April 29

Africa

Africa's $824Bn Debt
  • AfDB asks policymakers to put in place an orderly and predictable way of dealing with Africa’s $824Bn debt pile.
  • According to AfDB, Africa’s ballooning external debt reached $824 billion in 2021.
  • AfDB president says there is urgent need for increased concessional financing, particularly for low-income countries. 

Africa’s immense economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries’ future growth, African Development Bank (AfDB) President Dr Akinwumi Adesina has said.

Adesina at the Semafor Africa Summit taking place on the sidelines of the International Monetary Fund and World Bank 2024 Spring Meetings, highlighted the challenges posed by Africa’s ballooning external debt, which reached $824 billion in 2021, with countries dedicating 65 per cent of their GDP to servicing these obligations.

He said the continent would pay $74 billion in debt service payments this year alone, a sharp increase from $17 billion in 2010. “I …

Read More
AmCham Business Summit 2024
  • Meg Whitman, US Ambassador to Kenya, highlights key investment opportunities in Kenya, particularly in the creative industry and clean energy.
  • She noted that Kenya has the potential to become the Singapore of Africa through vertical business integration, job creation, innovation, and foreign direct investment.
  • AmCham Business Summit 2024 seeks to strengthen bilateral trade and investment between the US, Kenya, and East Africa.

The fourth edition of the regional American Chamber of Commerce Kenya (AmCham) Business Summit, has officially kicked off in Nairobi, Kenya, under the theme, ‘Catalyzing The Future of US-East Africa Trade and Investment’.

This year’s forum underscores AmCham Business Summit as the premier platform for strengthening bilateral trade and investment between the United States, Kenya, and East Africa.

Hosted by the American Chamber of Commerce (AmCham), the two-day Summit has brought together delegates from the United States of America, East and Sub-Saharan Africa in efforts to deliberate and …

UK-Rwanda asylum treaty
  • UN faults UK-Rwanda asylum treaty citing concerns on potentially harmful impact on global responsibility-sharing, human rights, and refugee protection.
  • Spearheaded by Prime Minister Rishi Sunak, the legislation mandates judges to deem Rwanda as a safe third country.
  • With deportation flights slated to start in July, the move is sparking weighty debates over the ethical implications of outsourcing asylum responsibilities.

This week’s passage of the “Safety of Rwanda” Bill by the UK Parliament has triggered alarm bells within the United Nations (UN), with two prominent leaders, Filippo Grandi, the UN High Commissioner for Refugees, and Volker Türk, the UN High Commissioner for Human Rights, raising concerns over its potentially harmful impact on global responsibility-sharing, human rights, and refugee protection.

Spearheaded by Prime Minister Rishi Sunak, the legislation mandates judges to deem Rwanda as a safe third country, paving the way for the deportation of thousands of migrants who have sought refuge …

Energy Resources across Africa.Source Research Gate Oghomwen Igbinovia

As Africa’s role in the global economy continues to garner prominence, it’s imperative for the continent to seal the gaping hole in its power supply.

Lack of universal power access remains a major roadblock that has retrogressed industrialization and socio-economic development. Statistics from the World Bank indicate that Africa remains the least electrified region in the world, with 568 million people lacking access to electricity.

The Bretton Woods institution, further notes that the Sub-Saharan Africa’s share of the global population without electricity, jumped to 77 per cent in 2020 from 71 per cent in 2018, whilst most regions saw declines in their share of access deficits. It has become a Hobson’s choice for African governments to prioritize the power sector, which is the epicenter of industrialization, working towards Goal 7 of the UN SDGs; which advocates for universal access to affordable, reliable and modern electricity services.

Currently, Africa’s power is …

New VS3 Globe Image 00197

Reliable and affordable telecom services have never been more vital to our national economic and social resilience.

That is why, across Africa and throughout the globe, national leaders and policymakers are prioritising the preservation of satellite broadband access – and why South Africa needs to keep pace with the rest of the world on this critical issue.

The technical details are relatively simple: the most widely useful and applicable satellite services are provided using the Ka-band, also known more widely as the “28 GHz band”.

What kind of useful services?

  • Reducing “digital deserts” by bringing broadband internet connectivity to unserved and underserved communities.
  • Ensuring near-ubiquitous access and vastly improved quality across the most densely populated urban areas. Among other benefits, the 28 GHz band lets satellite operators deliver the capability to pinpoint configurations of access when demand is at its peak.
  • Reducing constraints on access by delivering a wider range
June.Njoroge.African.Diaspora.Investment.Pic2

The African Diaspora Network (ADN) has been instrumental in not only offering a platform for dialogue, action and innovation but also driving investment opportunities in the continent, pertinently through their flagship symposium. The African Diaspora Investment Symposium (ADIS), fosters the entrepreneurial and innovative spirit of Africans in the diaspora together with their champions. The event has been for the past seven years since inception,  a catalyst for diaspora-driven initiatives and investment with the potential to shape the continent’s future as well as a platform to control the narrative about Africa. For the 2022 event, the Network seeks to bring the global community together to Silicon Valley; it has been hailed as the premium convening of the African investment ecosystem in Silicon Valley.

Since January, the Network has been running online forums, addressing thematic concerns and the pivotal role that the diasporan community can play in solving and sealing gaping deficits. …

monkeypox

Cases so far have “mainly but not exclusively been identified amongst men who have sex with men,” according to WHO. This new revelation is against known medical knowledge of the disease because the WHO considers monkeypox not to be a sexually transmitted infection.

In a recent media briefing, Dr John Brooks, an epidemiologist with the US Centers for Disease Control and Prevention, explained that “…monkeypox is not a sexually transmitted infection in the typical sense, but it can be transmitted during sexual and intimate contact.”

From there onwards, the disease has continued to spread, as of May 21st the WHO has reported some 92 confirmed cases and 28 suspected ones. In the wake of this outbreak in the UK, other cases have been reported in Spain and Portugal and several other European countries.…

theexchange.africa

Despite the international emphasis on migration to Europe, more than 80 per cent of African migration occurs within Africa, both intra-regionally (primarily within West, East, and southern African regions) and inter-regionally (from West Africa to Southern Africa, from East/Horn of Africa to Southern Africa, and from Central Africa to Southern Africa and West Africa).

Most immigrants are migratory workers who work either formally or informally in their destination countries. As a result, immigration plays an important role in the economic development of destination countries. However, a number of low- and middle-income countries lack evidence and awareness of how immigrants might contribute to various sectors of the economy, and very few have designed and implemented relevant policy frameworks.

Many destination nations are unable to capitalise on immigration due to a strong informal sector, insufficient labour migration management capacity, and a lack of aggressive labour market regulations.…

www.theexchange.africa
  • African Development Fund has approved $5.5 million technical assistance grant to support projects Eastern Sahel region countries of Djibouti, Eritrea, Ethiopia and Sudan
  • The East Africa Regional Energy Project will be financed through the ADF-15 Regional Public Good window of the African Development Fund, the concessional arm of the African Development Bank Group
  • It will develop technical studies for regional solar parks and associated battery storage near regional energy inter-connectors, high-voltage cables that connect the electricity systems of neighbouring countries

The African Development Fund has approved a $5.5 million technical assistance grant to begin the roll-out of the flagship Desert to Power initiative in the Eastern Sahel region countries of Djibouti, Eritrea, Ethiopia and Sudan.

Dubbed the East Africa Regional Energy Project, it will be financed through the ADF-15 Regional Public Good window of the African Development Fund, the concessional arm of the African Development Bank Group.

The project will …

LB Investment
Subscribe to Our Newsletter

STAY INFORMED

Unlock Business Wisdom - Join The Exchange Africa's Newsletter for Expert African Business Insights!

Stay ahead of the game with our weekly African business Newsletter
Recieve Expert analysis, commentary and Insights into the enviroment which can help you make informed decisions.