Trending
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- Safaricom posts 52.1% jump in half-year net earnings to $331M, Ethiopia loss narrows
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Sustainability
- Safaricom PLC’s True Value in fiscal year 2025 is 16 times greater than its financial profit during the period.
- The telco’s True Value was enhanced by creating value for customers, agents and merchants through fintech M-PESA, increased investment in responsible citizen and social impact initiatives.
- Company contributed KES809 billion to Kenya’s GDP through its touch points in the various value chains.
In an economy where Safaricom PLC products and services weave deep networks from corporate boardrooms, to government corridors, to the ever bustling SME sector, the company’s True Value in 2025 increased to $8.509 billion (KES1.1 trillion), the latest Sustainable Business Report shows.
In the trading period ending 30th March 2025, the company contributed KES809 billion to Kenya’s GDP through its touch points in the various value chains. In an update on Tuesday, Safaricom attributed the increase in the True Value earnings to the enhanced value created for customers, agents …
- Many players in livestock farming across Africa remain unaware of the relationship between this sector and greenhouse gas emissions.
- Currently, livestock farming contributes about 18% of global greenhouse gas emissions according to international estimates.
- In South Africa, the sector contributes between 0.4% and 0.5% of the global total, equal to about 32.5 metric tonnes of carbon dioxide equivalents a year.
Livestock farming feeds millions of Africans, but it also leaves a carbon footprint that cannot be ignored. According to North-West University (NWU) in South Africa’s animal scientist, Prof Kenny Mnisi, this challenge is finding the balance between sustaining households and tackling climate change.
Many players in livestock farming across Africa, however, are unaware of this link to carbon footprint. Prof Mnisi says short learning programmes and collaborative initiatives are needed to close the gap.
“The Faculty of Natural and Agricultural Sciences, in collaboration with the North West Department of Agriculture …
- New report shows climate finance by multilateral development banks rose 10% to $85.1 billion in 2024 compared with previous year.
- MDBs’ climate finance for low- and middle-income economies increased 14% to more than $85 billion.
- High-income economies received $51.5 billion in climate finance from multilateral lenders during the period under review.
Lenders pumped a total of $85.1 billion in climate finance to poor countries last year, reflecting a 14 per cent year-on-year increase, a new report by multilateral development banks (MDB) reveals.
According to the 2024 Multilateral Development Bank Climate Finance Report, statistics show that climate finance going to adaptation, mitigation and other projects seeking to stem the negative impact of climate change in low and middle level income economies has more than doubled since 2020.
During the year under focus, countries across Sub-Saharan Africa received $17.25 billion even as the Middle East and North Africa recorded $5.24 billion in …
- Mandatory IFRS sustainability reporting in Kenya will begin from 2027 to 2029.
- For the SMEs that are non-public interest entities, mandatory onboarding will begin on January 1, 2029.
- This unified framework aims to provide consistent and comparable information, benefiting investors and fostering transparency across Kenyan markets.
Kenyan firms will from 2027 be able to directly compare the performance of their Environmental, Social and Governance (ESG) initiatives with other companies globally as the country moves to adopt reporting under a common standard worldwide.
The country has initiated a plan to adopt the sustainability reporting under the International Financial Reporting Standards two (IFRS S2), designed to make public disclosures uniform, transparent, and easy to compare globally.
The Institute of Certified Public Accountants of Kenya (ICPAK) has set January 1, 2027, as the commencement date for the mandatory adoption of the sustainability reporting under the IFRS.
Under the plan, in phase one that …
- Waste Management in Uganda is beset with the same challenges that most developing countries face.
- Tree Adoption Uganda (TAU) is a youth-based non-governmental organization that operates as a non-profit.
- WasteAid expanded its reach into Uganda earlier this year, launching programs to support a more robust circular economy and address the country’s growing waste problem.
Waste Management Challenges in Uganda
Waste Management in Uganda is beset with the same challenges that most developing countries face. Rapid urbanisation, a growing population, and limited resources have overexerted legacy waste disposal systems.
Urban waste collection in Uganda is 600,000 tons, of which 40 percent is collected while the remaining 60 percent is dumped in open areas, water bodies, or informal dumps. The uncollected waste leads to environmental degradation and poses serious health risks.
In addition, poor infrastructure, a lack of investment, and low community interest in proper waste disposal create a perfect …
- As COP29 starts in Baku, Azerbaijan, African nations are set to drive the climate agenda, focusing on climate finance and redefining economic metrics to recognize the continent’s green assets.
- Africa’s ‘green wealth’ push seeks to quantify Africa’s contributions to global environmental health, valuing its vast carbon sinks, natural resources, and ecosystems.
- This initiative, led by the AfDB in an alliance with the Republic of Congo and Kenya, could reshape Africa’s economic standing.
The annual United Nations climate conference, COP29, opens with a strong emphasis on climate finance, especially for developing nations that bear a disproportionate burden of climate change impacts.
At the forefront, African nations are pushing for increased funding and support, which is essential to advancing their National Adaptation Plans and Nationally Determined Contributions as outlined in the Paris Agreement.
This year, Africa, represented by the African Development Bank (AfDB) and a coalition of governments, is …
- In Africa, climate resilience is limited due to socio-economic vulnerabilities and limited adaptive capacity.
- The UNEP report calls for an accelerated increase in adaptation efforts and finance to address the mounting risks, particularly in developing nations.
- In 2022, adaptation finance for developing countries rose to $28 billion, a far cry from the $187-$359 billion per year required to bridge the gap by 2030.
As the global climate crisis intensifies, the impacts are hitting vulnerable regions hardest, with Africa bearing the brunt of devastating consequences.
According to the United Nations Environment Programme (UNEP) Adaptation Gap Report 2024, average global temperatures will rise by 2.6-3.1°C above pre-industrial levels by the century’s end, far exceeding the 1.5°C threshold agreed upon in the Paris Agreement.
This rise in temperature translates to increased frequency and severity of extreme weather events such as droughts, floods, and heat waves. These impacts are currently felt acutely in …
- Scheduled for 24th to 25th October in South Africa, the Sustainability Week Africa forum will explore the challenges and solutions being deployed across industries to tackle climate change.
- Keynote speakers will share innovative ideas on how businesses can support the continent in adopting sustainable practices faster in the face of climate change.
- The first edition of Sustainability Week Africa comes at a time when governments and businesses across Africa are grappling with the negative impacts of extreme weather events.
This week, policymakers will be closely following the proceedings at the Economist Impact’s Sustainability Week Africa, where keynote speakers will be sharing innovative ideas on how businesses can support the continent in adopting sustainable practices faster in the face of climate change.
The forum, which is scheduled for 24th to 25th October in South Africa, aims at amplifying challenges and the latest solutions being deployed across industries including agriculture, housing, …
- Multi-agency report highlights challenges and opportunities.
- Summit of the Future decisions: a choice between breakthrough or breakdown.
- Increasing climate change impacts reverse development gains.
The science is clear. We are far off track from achieving vital climate goals. The impacts of climate change and hazardous weather are reversing development gains and threatening the well-being of people and the planet, according to a new multi-agency report coordinated by the World Meteorological Organization (WMO).
Greenhouse gas concentrations are at record levels, fuelling temperature increase into the future. The emissions gap between aspiration and reality remains high. Under current policies, there is a two thirds likelihood of global warming of 3 °C this century, says the United in Science report.
United in Science offers much-needed grounds for hope. It explores how advances in natural and social sciences, new technologies and innovation enhance our understanding of the Earth system and could be game changers
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