Friday, March 29

Business

US-Africa green and sustainable financing
  • The upcoming US-Africa green and sustainable financing forum in Côte d’Ivoire aims to mobilize funding for infrastructure projects across Africa.
  • Set for March 19–20, the workshop will feature industry leaders, US technical experts, and key financiers.
  • The event highlights the critical need for renewable energy funding models, financing mechanisms, and regulatory and policy reforms to facilitate the growth of green and sustainable infrastructure.

To foster sustainable development in Africa, the United States Trade and Development Agency (USTDA) is joining forces with the African Development Bank Group to host the US-Africa Green and Sustainable Financing Workshop.

Set to go down in Abidjan, Côte d’Ivoire, on March 19–20, 2024, this event is poised to bring to the forefront the pressing need for green and sustainable infrastructure projects across the continent.

The workshop, a convergence of industry leaders, explores innovative financing models that can support Africa’s journey towards a resilient and sustainable future.…

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Struggling African economies
  • The complex relationship between struggling African economies and the IMF revolves around the necessity of bailouts and structural reforms to address economic crises while balancing the need for sovereignty and social welfare.
  • Conditions imposed by the IMF aim to promote fiscal discipline, enhance economic stability, and ensure sustainable growth.
  • The ongoing engagement with the IMF highlights the broader quest for a more equitable global financial system.

The International Monetary Fund (IMF) and its relationship with struggling African economies has been intricate and multifaceted. Often characterized by a mixture of dependence and resistance, this partnership comes to the forefront during periods of economic distress.

African countries, facing challenges such as debt, the aftermath of COVID-19, and external pressures such as the Russia-Ukraine conflict, have found themselves turning to the IMF for bailout assistance.

This dynamic has reignited discussions around the IMF’s role in fostering economic stability and growth through financial support …

Affirmative Finance Action for Women in Africa

Affirmative Finance Action for Women in Africa

  • The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative aims to close the $42 billion financing gap faced by women entrepreneurs, demonstrating that investing in women fosters gender-inclusive economic growth.
  • By securing over $1.5 billion in investments for women-led SMEs and providing gender-smart banking training, AFAWA is changing financial institutions’ perceptions and practices, demonstrating the viability and profitability of supporting women entrepreneurs.
  • AFAWA’s partnerships and educational programs build a more inclusive financial ecosystem, showcasing the initiative’s commitment to empowering women entrepreneurs and driving sustainable, inclusive economic development across Africa.

The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) aims to invest in women and close the significant financing gap they face. Women entrepreneurs in Africa confront a daunting $42 billion disparity in financing compared to their male counterparts, largely due to misconceptions about their creditworthiness and a lack of collateral. Despite these challenges, …

www.theexchange.africa
  • KRA commenced the new financial year on an upward trajectory after surpassing its July – September 2021
  • Customs & Border Control (C&BC) collected KSh 57.374 Billion against a set target of KSh 51.200 Billion

Kenya Revenue Authority (KRA) collected KSh154.383 Billion in the month of October 2021 against a target of KSh142.285 Billion, recording a performance of 108.5% and a growth of 23.2%.

This follows a similar positive performance of Quarter Two of the Financial Year 2021/22.

KRA commenced the new financial year on an upward trajectory after surpassing its (July-September 2021) target of KSh461.653 Billion by KSh15.053 Billion, recording a 30.0% growth.

Read: Diaspora remittances a lifeline to investments growth in Somalia

This implies that cumulatively KRA realized collections of KSh 631.090 billion for the period July – October 2021 against a target of KSh 603.939 billion, translating to a performance rate of 104.5%, a growth of 28.3% and …

Jabulani Ngcobo, Neliswe Masango, Louris Tshakoane and Ref Wayne. They are among the richest forex traders in South Africa. www.theexchange.africa

Gone are the days where an eight to five job was the order of the day.

Millennials have flipped the script and are pursuing careers we never thought would be regarded as being sustainable.

This trend has now landed on the shores of South Africa where young people are breaking out into new career paths. 

One such career path is Forex Trading. I am sure you have come across flashy social media posts with young, rich and trendy individuals in luxurious settings. This type of individual drives the latest German automobiles are draped in designer brands and eat at the trendy places in town. Welcome to the life of South African forex traders and we are going to take a look at the top 10 richest Forex Traders in South Africa. 

Jabulani Ngcobo

Jabulani Ngcobo is a charismatic socialite and is known as Cashflow in his circles. This popular businessman

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  • North Africa GDP was negative -1.1 per cent (2020) and -5.1 percentage point drop over 2019
  • But the region is expected to recover pre-pandemic, propelled by oil and tourism industry
  • Vaccination is still an important element in supporting the region towards recovery

The African Development Bank (AfDB), one of Africa’s multilateral development finance institutions, has released its 2021 edition of the North Africa Economic Outlook published on November 3, noted several interesting developments, including the potential for the economy to rebound attributed to performance in oil and tourism.

The COVID-19 pandemic trapped North Africa in economic uncertainty, as growth was hugely affected, causing serious shocks in oil prices and a drop in tourism.

The bank report noted that real GDP growth was negative in 2020 at – 1.1 per cent and – 5.1 percentage point drop over 2019. This situation pulled different sorts of reactions to curb the impacts, such …

www.theexchange.africa
  • Digital media entrepreneurs are producing ground-breaking journalism and achieving a significant impact on their societies
  • African media entrepreneurs achieved civic engagement, criminal investigations, and changes in the law through their articles
  • The researchers found that more than 85% of the media interviewed had contributed to significant political and societal changes

A new report has revealed that digital media entrepreneurs are producing ground-breaking journalism and achieving a significant impact on their societies, despite often tiny budgets and constant online threats and attacks.

The Inflection Point International report indicates that more than 85% of the media interviewed had contributed to significant political and societal changes.

SembraMedia, a non-profit that supports entrepreneurial journalists, published the report in partnership with the global philanthropic organisation Luminate.

It carried out more than 200 international interviews and interviewed 49 independent digital native media organisations in African countries, namely: Ghana, Kenya, Nigeria and South Africa.

Civic engagement 

According …

Kenya economy
  • Kenya’s headline figure climbed to 51.4 in October, from 50.4 in September.
  • Readings above 50.0 signal an improvement in business conditions on the previous month.
  • The increase was largely driven by the normalization of business spending following pandemic-related measures.

The Kenya Purchasing Managers’ Index ticked higher in October, as output growth strengthened for the first time in five months and new business continued to grow.

According to the Markit Stanbic Bank Kenya survey, the country’s headline figure climbed to 51.4 in October, from 50.4 in September.

Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.

During the period, new business volumes continued to rise, extending the current run of growth that began in May.

For the first time in five months, the seasonally adjusted Output Index ticked higher in October, thus signalling a faster expansion in Kenyan business activity.…

A coal engine at the Hwange Colliery mines. The giant company could have powered Zimbabwe and the larger Southern Africa region. www.theexchange.africa

The company, given the first resources boom and the second one currently being enjoyed, should be awash with cash. Instead, the company is heavily indebted to the tune of between US$70 million and US$160 million which it attempted to expunge unsuccessfully through a rights issue in 2015.

The company has been limping along financially for years. In 2019 it was reported that its liabilities exceeded assets by US$19 million. This development made it doubtful that the company could carry on as a going concern after having been placed under judicial management.

The recent interim financial results presented by the company offer some consolation to investors who have been suffering for long.…

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