Browsing: UK Prime Minister

• The AIS 2024 will build on the £6.5 billion deals and £8.9 billion investment commitments achieved at the previous summit held in 2020.
• Around two billion people under 25 will live in Africa by 2050.
• 22% of Africa’s working-age population is starting businesses representing the highest entrepreneurship rate in the world.

The UK Prime Minister announced that London will host the African Investment Summit on 23rd-24th April 2024. This initiative aims to benefit Africa and the UK economies by tapping into Africa’s innovative and entrepreneurial minds.
The AIS is a prominent event hosting 24 Heads of State from African countries with British and African Business leaders.

The UK-African Investment summit in 2024

Africa has made significant economic and technological growth strides in the last decade. Today, Africa is renowned as an adequate investment opportunity for those seeking to make billions. The continent hosts seven startups that have attained the stats …

Speaking on the first day of COP27 in Egypt, Dr. Adesina said the funding would strengthen collective efforts to build climate resilience for African countries which are suffering from increasing frequencies of droughts, floods and cyclones that are devastating economies in Africa.

The Glasgow Climate Pact included a commitment from donors to double adaptation finance in 2025 from 2019 levels. Earlier, Sunak announced that the UK will surpass that target and triple adaptation funding from £500 million in 2019 to £1.5 billion in 2025. The funding package provided to AfDB will be part of this commitment.

The Netherlands has also announced that it will contribute to the CAW alongside the UK funding. The Foreign Secretary has called on other countries to contribute over the coming months.

Sunak also confirmed during the COP27 in Egypt that the UK is delivering the target of spending £11.6 billion on International Climate Finance (ICF) …

UK Prime Minister Boris Johnson said that British businesses would support Africa to flourish with the green industrial revolution. The irony of this is that the UK hosted COP26 in Glasgow last November. The outcomes were disappointing for Africa which suffers the brunt of climate change.
While partnerships are necessary for development, the type, objectives, and interests of the participants are critical elements in deciding the outcome. Africa’s interests have always come last.
The partnerships for development are essential to addressing Africa’s development issues and trade growth. But there are too many conditions, usually. These include impositions in development cooperation for Africa. …

Gabon is one of few countries with a carbon-negative economy, thanks to the Congo Basin’s immense tropical forests, which absorb more greenhouse gases than the country’s companies, cars, and towns emit.

It just approved an ambitious climate law to ensure that its economic bases are on forests and agriculture rather than fossil fuels.

Outside assistance is required to attain this goal so that the government can continue to enhance living standards.
Many African countries rely on coal for electricity and have refused to sign a declaration signed by more than 40 countries this week calling for an end to the most polluting of fossil fuels. …