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 …

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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 …

Prosthetic Arm - The Exchange (www.theexchange.africa)

th?id=OIPInnovation is ferrying Africa to a brighter more successful future, a future of technology and digital realities in everyday life. From mobile Apps that allow John in the city centre to Dr. Atish Shah’s affordable battery-powered prosthetic arm that even the least fortunate can afford, innovation is defining Africa’s reality.

African Innovation: Tanzanian Doctor creates mobile-battery powered prosthetics

 

Tanzania’s Dr. Atish Shah has been recognized the World over for his innovation the Mkono-1, a 3D-printed functional prosthetic hand. Dr. Shah a biomedical engineering Masters candidate says the design was made with the average Tanzanian in mind. It is affordable and functional giving amputees an inexpensive solution for improved mobility and independence.

The prosthetic hand is charged by a simple mobile phone battery, bringing a revolution to an otherwise very expensive industry. In Tanzania, prosthetics are unaffordable for those in middle and low-income communities, and no other battery-powered prosthetics are …

Chinese Influence on the African

China has a well-established presence on the African continent. On the positive side, a lot of infrastructure development taking place is a direct result of Chinese funding. In addition, several big Chinese companies have taken root in Africa becoming significant contributors to employment and GDP. Examples include Citic Constructions, Sunshine group, and FAW. Mckinsey and Company research group estimates that in 2012 there were over 10000 Chinese-owned companies operating in Africa, the number has since increased. 

However, there has long been suspicion around Chinese funding, especially through debt as most deals are shrouded in mystery and hidden behind closed doors. One example is Zambia’s current debt conundrum, in which reports indicate the country owes China large sums of money but circumstances around the debt are unclear in terms of the duration and the cost. 

Additionally, indications are that some of the debt facilities come with collateralized arrangements in which Africa

satellite technology

Satellite technology is an integral part of modern communication networks. The world has evolved from the postal age and centred on a more fluid digital approach to information distribution. Organisations, governments and individuals all require and depend on consistent and timeous availability of information.

Satellite technology provides linkages in telecommunications, broadcasting and data communication. 

The telecoms industry has grown significantly, with more people accessing mobile phone services. Cellular and wireless companies such as MTN, Econet and Vodacom have expanded reach across the continent. This has dramatically improved connectivity and improved livelihoods. Cellphone penetration is on the rise, which has managed to catapult Africa into the communication age.

Broadcasting services have also improved significantly, especially in the quality of service. Radio and television services alike have improved notably. 

fibreoptic cables

Access to connectivity

African countries along the coast like Nigeria, South Africa and Kenya benefit from using submarine fibres. 

In June 2017, 52.1%

Women Farmers The Exchange www.theexchange.africa

Across the Global South, agriculture is essential to livelihoods for the majority of women at the base of the pyramid (BOP). Modernising agribusiness value chains in climate-smart ways will be a key element in building emerging economies, combating food and income insecurity, and mitigating the impacts of climate change. This modernisation must take a gender-progressive approach, which requires a shift in the investment landscape to better integrate gender, from capitalising women-led companies to ensuring women farmers are empowered across the value chain. Not only are such approaches vital to SDG 5 (Gender Equality), they are directly relevant to climate action and building sustainable economies.

The impact of climate change on agricultural production has been well-documented, from the shifts in average temperatures and rainfall patterns to ozone and mineral concentrations in the atmosphere and soil – but the relationship goes both ways. Agriculture is a significant driver of climate change, with …

agrekko

Global data centre spend was expected to reach an impressive total of $208 billion by the end of 2020.

Demand, thanks to expanding business footprints and the move to the cloud and alternative infrastructure solutions, has pushed the market into overdrive with an estimated 628 hyper scalers expected to rise by 2021.

The edge, artificial intelligence, cloud IT infrastructure investment, machine learning, and the rise of emergent technologies are shifting the data centre into high gear, and centre stage.

But what if the data centre fails? What if demand overtakes infrastructure? Downtime can incur huge costs, put an organisation’s reputation on the line, and can have unexpected knock-on ripple effects throughout the company and its infrastructure.

Therefore, it is essential to tick two particularly important boxes when investing in a robust data centre strategy – reliable power and comprehensive loadbank testing.

As data centre usage continues to rise exponentially alongside …

Ngozi Okonjo Iweala

Nigeria’s Ngozi Okonjo-Iweala was on Monday, February 15 confirmed as the World Trade Organization (WTO) director-general.

Her appointment came after the last remaining rival candidate, South Korean trade minister Yoo Myung-hee, withdrew from the race, allowing her to become the first woman and the first African to lead the global trade body.

She will take up her post on March 1, initially for a term that runs until August 2025.

The Geneva-based body has been without a permanent director-general since Roberto Azevêdo stepped down a year earlier than planned in August.

However, as she takes over, much is expected from her.

Trade spats

Despite WTO being established in 1995 with the aim of promoting open trade for the benefit of all, the organization has struggled to prevent trade spats among member states, most notably the United States and China.

The organization negotiates and administers rules for international trade and tries …

LB Investment
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