• Africa’s vast natural gas and oil reserves present significant untapped potential for economic growth.
• However, the continent faces challenges in fully harnessing its energy resources and transitioning to cleaner sources.
• The upcoming Tanzania Energy Congress serves as a critical platform for discussions and collaborations shaping the region’s energy future.

Energy in Africa presents both untapped potential and significant challenges hindering growth. The continent possesses vast natural gas and oil reserves, offering opportunities for economic advancement.

However, the current energy mix relies heavily on fossil fuels, demanding substantial investments in capital and technology, which Africa requires urgently.

Despite its resource wealth, Africa has struggled to fully harness its oil and gas potential, especially in the face of global shifts towards cleaner energy sources. Partnerships within the industry have historically fallen short, but lessons from past agreements can guide more productive collaborations.

Africa has the potential to emulate successful partnerships, such as …

• The World Bank says Countries in Sub-Saharan Africa are showing strength in social policies on inclusion and structural reforms, but economic woes and wars are slowing progress.
• In terms of regional disparities, 2022 witnessed a widening gap between Western and Central Africa and Eastern and Southern Africa.
• These findings are contained in the World Bank’s Country Policy and Institutional Assessment (CPIA) latest report. 

Economies in Africa are making significant steps in structural economic reforms as well as social policies on inclusion, but wars and persistent economic woes threaten to wipe out the gains.

Last year, a survey by the World Bank on poor countries shows that countries in Sub-Saharan Africa made considerable progress in institution both economic and social protection measures.

The World Bank’s Country Policy and Institutional Assessment (CPIA) is as an annual tool designed for countries eligible for financial support from the International Development Association (IDA), an …

• The African Development Fund has approved a grant of $19.98M to fund Mozambique’s Economic Acceleration and Governance Support Programme.
• This grant is the first of two budget support operations for FY2023/24, each valued at $20M.
• The program focuses on two key areas: improving the private sector environment for economic recovery and green growth and enhancing the efficiency, accountability, and transparency of public expenditure.

The African continent, with its diverse cultures, landscapes, and economic potential, has been on a journey of transformation and development. Mozambique, a nation nestled on the southeastern coast of Africa, is no exception.

Recent developments have shed light on an exciting opportunity for Mozambique’s economic rejuvenation through a grant of $19.98 million approved by the Board of Directors of the African Development Fund (ADF), the concessional lending window of the African Development Bank Group.

This grant will finance the implementation of Mozambique’s Economic Acceleration and Governance Support …

• World leaders meet at UNGA to address climate crisis and rescue Sustainable Development Goals.
• IFAD President emphasizes climate adaptation, food security, and resilience investment.
• G20 leaders support IFAD’s fight against food insecurity, and IFAD seeks funding to transform rural lives and combat poverty and hunger.

World leaders gather in New York for the United Nations General Assembly (UNGA), to rebuild trust, reignite solidarity among nations and rescue the UN’s 2030 Agenda for Sustainable Development.

This includes rescuing Sustainable Development Goals for Zero Hunger and No Poverty. Alvaro Lario, President of the UN’s International Fund for Agricultural Development (IFAD), warns of the dire and irreversible effects that the climate crisis will have on hunger and poverty if sound adaptation measures are not taken quickly.

Calls for climate change adaptation at UNGA 2023

“The climate crisis hinders our efforts to eradicate hunger and poverty. The growing global population is dependent on a …

World leaders gathered at the United Nations General Assembly (UNGA) are confronting the stark reality that progress toward achieving the Sustainable Development Goals (SDGs) by 2030 is lagging and, in some cases, regressing. The United Nations adopted the SDGs, including eradicating extreme poverty, ensuring quality education for all children, achieving gender equality, and addressing climate change, in 2015 with great ambition. UN Secretary-General Antonio Guterres called for “bold and transformative action” to fulfill these commitments and close the growing global inequality gap. While leaders have committed to accelerating action, specific plans remain limited.…

A considerable gap exists between symbol and substance regarding an African climate change approach. Foreign leaders often nod to how Africa accounts for only four per cent of global emissions but bears the brunt of the devastating climate change effects. Rising temperatures, extreme weather conditions, and ecosystem disruptions threaten millions of Africans’ livelihoods.

For many communities across the continent, the climate threat is already existential. With 18 per cent of the global population, Africa has 16 of the 20 countries most vulnerable to climate change, according to Notre Dame Global Adaptation Initiative.…