• To stay within the 1.5°C target, cutting emissions by 42 per cent by 2030 and 57 per cent by 2035 must remain a priority for all nations.
• This level of reduction requires more than just promises on paper; it demands immediate, impactful action on a global scale.
• The call to limit global warming to 1.5°C is growing more urgent.

As climate scientists and world leaders sound the alarm, the call to limit global warming to 1.5°C is increasingly urgent. According to the UN Environment Programme (UNEP) in its 2024 Emissions Gap Report, the window for action is closing fast.

For the world to stay within the 1.5°C target established in the Paris Agreement, nations must slash greenhouse gas emissions by 42 per cent by 2030 and 57 per cent by 2035. This level of reduction requires more than just promises on paper; it demands immediate, impactful action on a …

• Experts have warned of a refugee crisis in Chad as escalating violence and a food crisis in Sudan compel large numbers to flee across the border.
• Since April 2023, conflict has persisted between the Sudanese army, led by the nation’s de facto leader Abdel Fattah al-Burhan, and the paramilitary Rapid Support Forces (RSF).
• Despite the challenges faced by refugees in Chad, the escalating violence in Sudan is compelling an increasing number of individuals to seek refuge there.

Refugee crisis in Chad

Refugees and aid organizations have warned of worsening conditions in the overcrowded and underfunded camps of Chad as escalating violence and a food crisis in Sudan compel large numbers to flee across the border.

In the first week of October alone, approximately 25,000 individuals, primarily women and children, sought refuge in eastern Chad, marking an unprecedented influx for a week in 2024. Chad, ranked among the poorest nations …

• The Senegal 2050 plan seeks to address the economy’s weaknesses and position the West African nation as a diversified and dynamic economy in the coming decades.
• At the heart of the Senegal 2050 plan is a commitment to green energy and infrastructure advancement.
• The strategy encompasses substantial enhancements in healthcare, guaranteeing that a healthier populace boosts productivity and innovation.

Over the last decade, Senegal’s economy has remained strong, supported by major sectors, including agriculture, mining, and services. The country’s GDP growth has remained consistently strong compared to regional averages.

Infrastructure projects, enhanced business regulations, and robust regional trade connections are among the pillars contributing to Senegal’s stable GDP. As a member of the West African Economic and Monetary Union (WAEMU), Senegal also benefits from a stable currency hedged to the euro, which helps control inflation and provides a reliable investment environment.

Like many African countries, Senegal grapples with …

• Kenya’s banking sector corporate taxes have been on the rise in the past few years.
• A new analysis shows that the contribution of the banking sector towards Pay-As-You-Earn was 7.79 per cent of all PAYE collected in the country.
• The study included 43 institutions—37 banks and six microfinance institutions.

The total tax contribution (TTC) from Kenya’s banking sector reached $1.5 billion (KSh190.26 billion) in 2023, a 4.96 per cent increase from the previous year, the Kenya Bankers Association has said. This marks the highest TTC since the study began in 2017, representing 8.78 per cent of the total government tax receipts for the financial year ending in June 2023.

According to the Banking Sector Total Tax contribution report, the TTC comprised $793 million (KSh102.52 billion) in taxes borne by the participating banks and microfinance institutions and $678.8 million (Ksh87.74) billion in taxes collected.

While the overall tax contribution grew, …

• A broken pipeline in South Sudan has thrown its capital, Juba into a state of turmoil.
• The pipeline in question is essential for the transportation of both crude oil and refined petroleum products.
• The economic implications of the pipeline failure are profound.

South Sudan, afflicted by civil war, famine, and natural disasters, secured its independence from its northern neighbor, Sudan, over a decade ago. However, pervasive corruption and a violent kleptocratic system have fueled ongoing conflicts, and mass atrocities have impeded its progress on the global stage.

In recent weeks, Juba, the capital of South Sudan, has been thrust into a state of turmoil following the failure of a critical pipeline that serves as a lifeline for the city.

The broken infrastructure, which until recently carried more than 150,000 barrels of crude oil to the Red Sea coastline in Sudan, ceased operations in February following a blockage resulting from …

• Mukuru has launched a new mobile wallet in Malawi to enhance international transfers and boost financial access, particularly for underserved and unbanked communities.
• The Mukuru Wallet features two pockets, Nyanja and Moyo, designed for domestic and international money transfers, with added benefits like no cash-out fees and interest on savings, promoting financial inclusion.
• The wallet is part of Mukuru’s digital transformation strategy, empowering Malawians to participate in the digital economy and modernizing financial services across the country.

Mukuru, a financial services platform popular for its world-class fintech solutions, has made a strategic leap in Malawi by launching its innovative mobile wallet, the Mukuru Wallet. This marks a significant milestone in the company’s mission to enhance financial access and streamline international transfers, particularly for underserved communities.

By offering a secure, efficient, and accessible way to manage funds, the wallet is poised to transform Malawi’s financial landscape.

Expanding financial access through innovation