Browsing: Africa

In Africa, the idea of having a seed bank on the scale of the Global Seed Vault is unknown since farmers have for decades been using seed banks for their consecutive crop production activities. The sad reality is that this practice may be infeasible in the coming years since the changing climatic conditions are pushing the continent over the ledge with ever-decreasing farm productivity. 

A report released by the UN’s International Fund for Agricultural Development (IFAD) in October 2021 shows that the biodiversity doomsday is nigh for Africa. 

According to a report, staple crops in eight African countries might decline by as much as 80 per cent by 2050 if temperatures continue to rise driven by climate change. The result of this might be a devastating effect increasing poverty and reducing food supply.…

China actively honours its commitment to making vaccines a global public good. At the time when Chinese vaccines had just reached the market and domestic supply was tight, China began to supply vaccines to Africa in support of its battle against the pandemic.
By November 2021, China had provided over 1.7 billion doses of Covid-19 vaccine to more than 110 countries and organizations, including 50 African countries and the AU Commission, and is striving to provide an aggregate total of two billion doses by the end of 2021.
In addition, it donated US$100 million to COVAX, which aims at ensuring all countries have access to a safe, effective vaccine.…

Tanzania Telecom charges:

Tanzanians are forced to reach deeper into their pockets as the government has increased the cost of performing mobile money transfers. Effective July of this year, Tanzania’s have seen the cost to send or withdraw money shoot up to the roof.

The government, through parliament past a bill to hike the charges arguing the extra tax is needed for national development projects. The government amended the Electronic and Postal Communication Act (CAP 306) a move that allowed it to impose a levy of on mobile money transactions depending on the amount sent and withdrawn.

At 17 per cent, Tanzania’s excise rate on mobile phone services is the second-highest in Africa, second only to Zambia.

The amount is an increase from the earlier 14.5 per cent that was raised back in 2014. At that time it was explained that the levy increase was meant to compensate the government …

The search for Congo’s cobalt has shown how the clean energy revolution has taken a turn. It is to save the planet from rising temperatures in an age of enlightened self-interest. But it has become mired in a familiar cycle of exploitation, greed, and deception. This often benefits Africa little or not at all.

On November 24, 2021, a group of G7 countries, including Japan and the US made a decision. They stated they will withdraw crude oil from their Strategic Petroleum Reserve. (SPR). The SPR was an underground salt tank in Utah, turned into a recession and warproof facility. It was in reaction to the twin World Trade Center explosions on September 11, 2001.…

Since Tanzania is still conducting research on cryptocurrencies, rules to govern the sector will be issued after research on crypto is complete. Currently, Tanzania has no regulations for cryptocurrencies and those trading in the sector have been urged to be cautious.
However, there is no timeframe for when regulations will be issued.
In June, President Suluhu asked the country’s financial leaders to prepare for crypto and blockchain as the country drops its conservatism and flies its doors open to the new era of digital currency.…

With its about 1.3 billion people, Africa is a potential market for all kinds of consumable goods and for services. In the coming decades, there will be an accelerated competition between or among the external players over access to the resources and for economic influence in Africa.
Despite the growth of external players’ influence and presence in Africa, says the report, Russia has to intensify and redefine its parameters as it has now transcended to the fifth stage. Russia’s Africa policy is roughly divided into four periods, previously after Soviet’s collapse in 1991.
The first historic summit in 2019 created a good basis for launching or ushering in a new fifth stage of Russian-African relations. The joint declaration adopted at the summit raised the African agenda of Russia’s foreign policy to a new level and so far remains the main document determining the conceptual framework of Russian-African cooperation.…

• Mastercard is collaborating with Meta to support the digitization and growth of SMEs across the MEA region
• The firm says it will be is organizing a training webinar that will provide SMEs insights from industry experts
• Access to credit, data, training and digital tools are among the key challenges for SMEs, further compounded by infrastructure limitations and power supply interruptions in some MEA markets

Global technology company Mastercard has announced that it is collaborating with Meta to support the digitization and growth of SMEs across the MEA region. 

In a statement, the firm says it will be is organizing a training webinar that will provide SMEs insights from industry experts, and a masterclass on how to manage uncertainty from renowned author and academic Nathan Furr, Associate Professor of Strategy at INSEAD.

The event takes place on Wednesday, 8 December at 13.00 East Africa Time.  

The collaboration comes at a …

However, the DW report argued that just 18 per cent of GCF financing went to projects in the world’s poorest countries, while 65 per cent went to projects in middle-income countries like Mexico or India.  

GCF is an essential partner towards Africa’s climate action. It is one of the most potent multilateral financing mechanisms available for the continent in supporting genuine-time climate action efforts. 

Despite the underlying challenges within climate finance the region faces, it ought to be ready to harness GCF’s potential and become resilient as climate change impacts do not wait.  …

While dumping enables consumers to goods affordably in the importing country, it more often than not destroys the local market by killing off industrial development of the importing country. This results in business closure and layoffs.
Ig there is anything that Africa should gain from the Covid-19 pandemic, it should be the ability to create its own solutions to its market needs. As we have seen with the vaccines apartheid, Africa can only grow if it puts in place measures to address its most immediate needs even as it builds value chains for posterity.
The pandemic shows that times are changing and it is important that Africa changes its stance on used items from western nations. Africa should stop being the world’s dumpster by saying no to these imports.…

The training programme was launched during the Intra-African Trade Fair 2021 (IATF2021), taking place in Durban, South Africa from November 17 to 21. For previously under-represented populations, the training programme strives to break down barriers to commerce.
The AfCFTA’s ‘How to Export with the AfCFTA training programme’ was designed with African businesses in mind. Small enterprises will be equipped with the tools they need to take advantage of the new trading climate and the AfCFTA’s operationalization.
In 2020, Afreximbank and ITC begun a trial programme in Côte d’Ivoire, Nigeria, and Rwanda as a test of this new programme concept. There were around 1,500 applications for the course within the first few days of its release, indicating a strong degree of interest in its subject.…