Browsing: Ukraine

Further, the IMF argued that the ECF arrangement for Tanzania supports government priorities, strengthening fiscal space for much-needed social spending and high-yield public investment, resuming and advancing the authorities’ structural reform agenda and strengthening financial deepening and stability.

Moreover, the IMF statement noted that “the ECF arrangement is centred on supporting the economic recovery from the scarring effects of Covid-19 and coping with spillovers from the war in Ukraine; preserving macroeconomic stability, and advancing the structural reform agenda toward sustainable and inclusive growth.”

On a broader scale, the IMF’s financial support goes after levitating Tanzania’s essential priorities.…

• AfDB aims to assist 40 million farmers in raising their production of heat-resistant wheat varieties, soybeans, and rice, among other crops, to feed around 200 million people
• In Africa, climate change threatens to eat into 15 per cent of Africa’s gross domestic product (GDP) by 2030
• Sanctions against Russia have dealt a blow to grain shipments at a period when universal stockpiles were already experiencing a stretch

War victims are sometimes found away from the battlefield. This is the case with Russia’s brutal invasion of Ukraine. Even as the fighting there causes immeasurable destruction and suffering, it also threatens a silent crisis in Africa.

The conflict has sent the food prices in Africa over the roof, making life further complicated for the 283 million already threatened by hunger within the continent. The war in Ukraine has also laid bare Africa’s unending reliance on food imports. Wheat imports represent about 90 …

The Ukraine invasion by Russia and the resulting conflict has created an economic vortex for the whole world.

Reports state that from the time the Ukraine invasion began at least 10 million people have been displaced from their homes creating a humanitarian crisis. The invasion is a cause for concern for African countries many of which have ties with Russia which lent them military support in their respective struggles for independence. Several of them like Zimbabwe abstained from voting against the Ukraine invasion out of fear of straining relations with Moscow.

The adverse effects of the Ukraine invasion stem from economic contagion resulting from globalization. Countries that were dependent on Ukraine and Russia for their exports will record lower exports and subsequently lower income. Prior to its invasion Ukraine had been a hub for education at a higher level for African countries.

Post the Ukraine invasion prices of commodities and …

The food security situation is critical and demands international attention–which is lagging. According to Africa News, at least 400,000 tonnes of wheat won’t be sent to Sudan by the USA as promised in 2022.

The devastating impacts of civil conflicts, insecurity, drought have crippled Sudan’s food systems. The latter is responsible for displacing at least 1.9 million people across Sudan (UN).

The recent situation report by Reliefweb on Sudan food security reinforces the current trend of concern.

According to the report, displacement scenarios observed due to political instability affect agricultural operations significantly impacts cereal and non-cereal food prices.…

The Presidential Council for Africa (PCA), founded by President Emmanuel Macron in 2017, is driving this project. Its coordinator, Wilfrid Lauriano do Rego, told RFI that each student’s case will be examined separately.

“Each student presents a different case depending on whether they would like to continue studying in France or not and whether French universities can take them. And we also need to liaise with the French authorities to make this project feasible,” he said.

The initiative is not limited to francophone students but is open to anglophone students too, depending on how fluent they are in French. The project concerns all university courses but may be limited to what is on offer within the French universities participating in this initiative.

“It will also depend on what kind, of course, they are following and the decisions of the French universities giving these courses on the matter,” he said.

Three …

As a gigantic energy superpower, Russia’s foreign direct investment (FDI) accounts for less than 1 per cent of Africa’s total FDI.

However, African Business argued that, with Russia being a small trading partner to Africa compared to the United States and China, the impact on trade would be marginal—yet few Africa developing economies such as Uganda will be more exposed.

Further, United Nations Conference on Trade and Development (UNCTAD) data show that Russia accounts for 2 to 3 per cent of Africa’s trade with the world—most of it is exports.

“Russia also accounts for 2 per cent of the world’s exports to Africa, and only 0.5 per cent imports from the continent” African Business.…

“Both Angola and Mozambique have a very limited level of trade with Russia and Ukraine; Angola imports wheat and yeast from Russia, while Mozambique imports a significant amount of wheat and a small amount of refined oil from Russia,” Oxford Economics Africa analyst who follows these two African economies told Mozambique News Agency.

“It appears that, at least for now, Angola is generally benefiting from higher oil and gas prices, which are partially driven by the conflict,” Gerrit van Rooyen said in remarks from Paarl, South Africa. Higher oil prices are positive for government revenues,” the analyst added. If the rise is sustained, “this could increase investment in Angola and lower debt levels faster than previously anticipated.”

“If gas prices remain high due to the conflict, this will be positive for investments in Mozambique’s liquefied natural gas [LNG],” his analysis continues, since “the profits from the natural gas in the …

• More than 677,000 have fled Ukraine to Poland, Romania and other countries
• African students in Ukraine are facing racial discrimination at the border, reports say
• Around 20 per cent of student studying in Ukraine are African citizens
• Russia invaded Ukraine on 24 February

Ukraine—as occupied with the war against Russian invasion, the European nation has been an investment partner to Africa for a while. Sadly, that relationship could be at risk as the ongoing crisis unearths troubling events detrimental to both sides, as Africans in Ukraine face hell.

The first in Europe in proven recoverable reserves of uranium ores, Ukraine is not new to African business landscapes nor productive interaction with Africa and its citizens through trade and education.

Unfortunately, the European nation broiled into war holds around 20 per cent of African citizens as international students.

Read: Corporate Apartheid Real in South Africa?

Most of the students from Africa …