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- Africa dominates the world’s 20 fastest-growing economies in 2024
- The Malnutrition Crisis in Africa has seen 63 million children stunted, 10 million overweight, and three million wasted.
- Dr. Akinwumi Adesina said poor nutrition keeps school-age children from realising their educational potential.
- Ministers, development partners and other speakers reviewed the progress toward achieving nutrition targets.
Malnutrition crisis in Africa
Leaders convening for the African Union and African Leaders for Nutrition Champion have revealed that Africa’s children are paying a considerable price as the continent finds itself in a malnutrition crisis among kids. An event held on the sidelines of the 37th Ordinary Session of the Assembly of the African Union in Addis Ababa revealed A staggering 86 million children under the age of five in Africa suffer from malnutrition, with 63 million stunted, 10 million overweight, and three million wasted.
Heads of state, government officials, ministers, and representatives from development and partner organisations expressed deep concern over the developmental challenges …
- According to the African Development Bank’s Macroeconomic report, Africa will dominate the world’s 20 fastest growing economies 2024.
- According to the report, the medium-term growth outlook for the continent’s five regions is slowly improving.
- The report forecasts more substantial growth for Africa in 2024, outpacing the projected global average; the continent is the second-fastest-growing region after Asia.
Fastest Growing Economies 2024
The African Development Bank Group’s latest Macroeconomic Performance and Outlook (MEO) indicates real Gross Domestic Product (GDP) growth for the continent is expected to average 3.8 per cent and 4.2 per cent in 2024 and 2025, respectively.
The report said this is higher than projected global averages of 2.9 and 3.2 per cent, with Africa remaining the second-fastest-growing region after Asia.
The top 11 African countries projected to experience economic solid performance forecast are Niger (11.2 per cent), Senegal (8.2 per cent), Libya (7.9 per cent), Rwanda (7.2 per …
- Kenya’s tobacco tariffs, as a percentage of the retail price, are 46.12 per cent, 29 per cent less than the global average.
- Experts have also questioned Kenya’s decision to exclude tobacco products from the tax revisions in the Finance Act 2023.
- Lobby insists that taxation on tobacco and nicotine products should continue annually, with the inflation factor strictly embedded in the policy adjustments.
Kenya’s National Taxpayers Association asserts that the country’s current tobacco taxes fall significantly below the World Health Organization’s recommended baseline, which advocates for taxes to be at least 75 per cent of the product’s retail price.
This is despite the acknowledgement that taxes represent the most cost-effective means to reduce tobacco consumption, particularly among youth and low-income groups, thereby lowering the country’s burgeoning healthcare costs associated with treating tobacco-related diseases.
According to the lobby and the Research Unit on the Economics of Excisable Products (REEP), Kenya’s tobacco …
Africa will be the second fastest-growing regional economy in 2024. Over 10 African countries will experience substantial GDP growth. In October 2024, the International Monetary Fund emphasized Africa’s pivotal role in global economic development and resilience.
Africa could face economic headwinds this year. However, some of the continent’s brightest spots are lighting up the economic prospects. According to the International Monetary Fund, six of the top 10 performing nations globally are projected to come from Africa in 2024.…
- Kenya’s input prices and output charges rise at much softer rates.
- New orders decrease slightly, survey shows.
- Declines in output and employment ease.
Kenya’s private sector business conditions showed a strong move towards stability in December 2023, as revealed by the latest Purchasing Managers’ Index findings, even though businesses remained less optimistic about the future into 2024.
According to the Stanbic Bank Kenya PMI compiled by S&P Global, rises in input costs and output prices were the softest since April of the previous year, having slowed markedly from record highs in October.
Kenya’s private sector experiences uptick in client spending
Consequently, many companies experienced a recovery in new work amid improved client spending, offsetting the impact of cost-of-living pressures. As a result, new orders, output, and employment all declined to lesser degrees.
The headline figure derived from the survey is the PMI. Readings above 50.0 signal an improvement in …
- Cholera fatalities in Zambia have now surpassed 150 cases since the onset of the latest outbreak in October 2022.
- Authorities are also prohibiting the sale of food along urban streets as Zambia cases hit past 4,000.
- A cholera resurgence in October has spread across the country, with reported cases spanning 16 districts across six of Zambia’s 10 provinces.
Authorities in Zambia have postponed the start of the 2024 academic year to January 29th, underscoring the escalating death toll attributed to the Cholera outbreak in the country. This drastic decision follows the alarming statistics of Cholera fatalities, which have now surpassed 150 cases since the onset of the latest outbreak in October 2022.
This rescheduling of school reopening reflects a prudent response to the risks imposed by the growing public health crisis, underlining the gravity of the situation gripping the southern African country and the necessity to prioritize the population’s well-being.…
Since Covid-19 struck, developing nations have been battered by global external forces further dampening their growth prospects.
- Under the World Bank’s income classifications, the world currently comprises 28 low-income, 108 middle-income, and 81 high-income economies.
- Worse, the World Bank says, in more than a third of the poorest countries, incomes per head will be below 2019 levels in 2024.
Economic indicators for Kenya and other developing nations have continued to depict a grim picture over the past four years, according to a new World Bank report.
The global lender states that economic growth prospects for developing nations, including Kenya, for the first four years of the 2020s have proven to be the weakest in almost 30 years.
According to the World Bank’s January economic forecast report, the average growth rate for developing nations during the period under review is 3.4 per cent, lower than it has been since the 1990s.…
- A new study has brought to light the harsh reality facing Africa’s birds of prey with 29 species reported to be on the verge of extinction.
- Human encroachment, steady depletion of food, and persecution are pushing many species to the brink of extinction with West Africa worst affected.
- The study warns decline in populations of Africa’s birds of prey portends serious consequences beyond the affected species and could destabilize ecosystems.
Across Africa, the skies, savannas, and forests that were once dominated by majestic birds of prey are now witnessing a sobering reality of population decline and potential extinction. New study findings, published in the Nature Ecology and Evolution journal, have brought to light the harsh reality facing Africa’s birds of prey.
Human encroachment on their habitats, the steady depletion of vital sources of food, and relentless persecution by bulging populations are pushing many of these iconic species to the …