Browsing: United Nations Development Programme

AfDB President Dr. Akinwumi Adesina when he met with Hayashi Nobumitsu, Governor of the Japan Bank for International Cooperation. They discussed common interests including support for agriculture and fertilizers, quality health infrastructure and solar energy development. www.theexchange.africa

TICAD8: Two-year moratorium on official debt proposed

Investing

Senegal’s President Macky Sall claimed Japanese firms have the technical and financial capacity to establish up partnerships in Africa while Moussa Faki Mahamat, who is the African Union Commission chair praised Japan’s education and training achievements. He lauded a Japanese effort that taught nutrition to 1,000 young Africans.

African countries would need major financial resources to deal with Covid-19, climate change, and Russia’s war in Ukraine said the African Development Bank chief.

“Now is the time to assist the African Adaptation Acceleration Program to mobilize $25 billion for climate adaptation in Africa,” Adesina added.

AfDB’s African Emergency Food Production Facility, started in May 2022, is providing US$1.13 billion to 24 nations for emergency food production. The Bank approved the facility early in 2022 to prevent the Ukraine war’s food and fertilizer disaster.…

Unemployed and underprivileged hit hardest by S.Africa’s declining GDP

Unemployed and underprivileged hit hardest by S.Africa’s declining GDP

Countries

South Africa’s declining GDP is expected to set back efforts to address unemployment, poverty and inequality according to a new United Nations Development Programme study on the socio-economic impact of COVID-19 in South Africa by at least five years.

The gross domestic product (GDP) of South Africa is expected to  5.1 per cent and 7.9 per cent in 2020 and recover slowly for at least the next four years.

The study was launched by  Dr Nkosazana Dlamini-Zuma South Africa’s Minister of Cooperative Governance and Traditional Affairs.

The study focused on how COVID-19 will drive temporary and long-term changes in poverty levels in the country. According to the study, the number of households below the poverty line will increase as households fall from the lower middle class.

As South Africa’s  6-month stimulus packages come to an end, 54 per cent of households that have been pushed out of the permanent job …