Browsing: EU

• Debt relief could boost development in African countries caught in illegal migration of youth into the EU, Italian official states. 
• Already, Italy is leading a spirited push for debt relief, targeting African countries. 
• Italy’s Mattaei Plan seeks to convert some $270.67M of debt into development projects.

Debt relief maybe the solution to curbing illegal North Africa migration into Europe, officials in Italy have said. In a press statement issued at the start of the week, Italy said it is working with the European Union on a debt-relief plan for African countries, as part of its broader push to foster development on the continent and address the root causes of irregular migration.

“The entire 10-year operation will allow us to convert some 235 million euros ($270.67 million) of debt into development projects to be implemented locally,” Italian Prime Minister Giorgia Meloni, said.

According to the report, in addition to the EU-led …

• Steel is both a problem and part of the solution for green energy transition.
• Governments must afford better policies for decarbonization of steel. production
• New technologies are helping decarbonize the industry.

Tata Steel: Steel production is at the top of the list of climate change, with the industry viewed as one of the worst polluters. However, industry pundits now suggest that the industry may very well hold solutions for the ongoing global energy transition.

In an interview titled ‘Steel is part of the problem but is also part of the solution’ held with global steel giant producer Tata Steel’s CEO T. V. Narendran this month, the Indian leader in steel production alluded to the premise that steel production can go green.

According to the CEO, the company has been actively pursuing Environmental, Social, and Governance (ESG) ideals since its establishment in 1907. “For instance, founder J. N. Tata did not …

• Uganda’s booming second-hand clothing market supports thousands of livelihoods but generates massive textile waste, with up to 48 tonnes discarded daily, most of it ending up in landfills.
• While informal waste collectors and tailors repurpose some textiles, the country lacks structured recycling systems, exacerbating environmental challenges.
• The Uganda Circular Textiles Project presents a solution by promoting upcycling and a circular textile economy, which could create green jobs, reduce waste, and attract investment in sustainable fashion.

In Uganda’s Owino market, one has to muscle their way as stalls overflow with piles of second-hand clothing, with traders out-shouting each other to win bargain-hunters looking for affordable fashion.

From trendy jeans to branded jackets, the market offers a vast selection at prices that fit virtually every pocket. At the moment, Uganda is one of Africa’s largest importers of second-hand clothing, bringing in 80 million kilograms in 2023 alone, generating US$70.85 million in tax …

•  Globally, seaweed is increasingly becoming the go-to organic medicine option, and Zanzibar is betting big on this avenue.
•  Already, the East African Island’s government is investing in the commercial growth of seaweed.
• What’s more, Zanzibar and the EU are in talks to develop the Island’s aquaculture sector.

Zanzibar seaweed output is increasingly becoming a viable commercial project as the island is tapping as part of diversifying its economy. Increasingly, Zanzibar is putting emphasis on seaweed farming because the global industry of seaweed is growing very fast, especially due to the discovery of critical medicinal properties.

It is reported that diseases such as cancer, diabetes, inflammation, and chronic cardiovascular are major global health problems that can all be remedied by seaweed.

In a research paper titled “Global seaweed farming and processing in the past 20 years,” it is reported that “currently, the chemotherapy and synthetic drugs are widely used in the …

• The EAC’s distribution sector is marred by systemic challenges, despite claims of a working free trade zone in the bloc.
• Stakeholders say that persistent bottlenecks hamper the flow of goods and services across the eight-member area.
• A recent EU-led EAC Peer-to-Peer Learning Conference sought to formulate a strategic action plan to address barriers limiting the industry’s growth and development.

The East African Community (EAC) is an eight-country strong regional free trade bloc in East Africa, by definition, it should mean easier movement or distribution of goods and services, but that’s only true on paper, the reality on the ground is quite on the contrary.

EAC maintains that it is “dedicated to enhancing economic efficiency and fostering regional integration through strategic investments and the utilization of established industries. The goal is to position the Community as a single investment area, harmonizing trade policies, investment incentives, and product standards.”

Protocols demand that …

As COP28 unfolds with its myriad discussions and commitments, a less visible but equally critical issue looms on another continent – the pervasive problem of greenwashing in Africa. From the corridors of corporate power to the burgeoning startup ecosystem, greenwashing emerges as a misleading marketing tactic and a significant barrier to genuine environmental and social progress in Africa.

In Africa’s corporate sector, greenwashing has become a strategic tool used by both corporations and governments to cover up environmentally detrimental practices. This issue is acutely critical in a continent where environmental conservation is not just a matter of policy but survival.…

• For African universities, governments and businesses, 5G Tech Spaces are part of the solution to enable Africa to leapfrog with clean innovation.
• Africa’s climate finance inflows remain very low, at 3 percent of global climate finance.
• The continent requires as much as $2.8 trillion through 2030 to implement its climate commitments.

Africa’s most renowned universities are keen to be at the forefront of Research, Innovation and Outreach (RIO) of technologies, products, services and operating models that reduce CO2 emissions and help attain Net Zero Emissions (NZE).

To achieve this, the gap between rhetoric and action needs to be reduced, if we are to have a fighting chance of reaching Net Zero by 2050 and capping the rise in global temperature at 1.5 °C in full attainment of the Paris Agreement.

Africa produces only about 4 percent of the world’s emissions, but is disproportionately vulnerable to the impact of climate change. …

• In Berlin, German Chancellor Olaf Scholz says his country will invest 4 billion euros in Africa’s green energy until 2030.
• Scholz made the green energy plans after meeting African leaders and heads of international organizations during the G20 Compact with Africa conference.
• Compact with Africa was initiated by Germany in 2017 during its presidency of the G20 to improve conditions for sustainable private sector investment and investment in infrastructure in Africa.

The government of Germany has pledged to invest $4.37 billion (4 billion euros) in Africa’s green energy until 2030. German Chancellor Olaf Scholz made the announcement at a press conference in Berlin after meeting African leaders and heads of international organisations including the President of the African Development Bank (AfDB) Group Dr Akinwumi Adesina, during the G20 Compact with Africa conference.

The Compact with Africa was initiated by Germany in 2017 during its presidency of the G20 to improve …

• As a signatory to the ICC, South Africa is under a legal obligation to heed the warrant and arrest the leader of Russia.  
• The European Union, as well as the United States, have all sent diplomatic envoys to South Africa urging the administration in Pretoria to broker some kind of peace talks.
• South Africa’s Minister of International Relations and Cooperation Naledi Pandor raised the issue of double standards in the ICC. 

South Africa has extended an invitation to Russia’s President Vladimir Putin to attend the BRICS Summit later this year in South Africa amidst an arrest warrant issued by the International Criminal Court (ICC) on Putin for the invasion of Ukraine.

BRICS is made up of the world’s largest emerging economies of Brazil, Russia, India, China, and South Africa. The five countries will be holding their 15th annual summit in Durban South Africa later this year.

Following the issuance of …

• In the year before Samia’s administration, Tanzania’s FDI closed 2020 at $3.16 billion though the Covid-19 pandemic might have impacted the inflows.
• Between March 2021 and February 2023, the number of registered funded projects rose from 455 to 575, equivalent to a 26 percent increase.
• Investment expansion in Tanzania trickled down towards the community during the period under review, and job creation grew from 61,900 to 87,187.

Over the past six years, Tanzania investment sector has gone through a somewhat cyclic pattern. Former President John Magufuli’s polices were deemed unfriendly by investors forcing capital to flee to more predictable and profitable markets.

However, in the last two years, there has been a wind of change brought about by President Samia Suluhu who has taken a pro-business approach focused on improving international business and diplomatic relations in the region and across the world.

According to data from Tanzania Investment Centre (TIC), …