Browsing: United Nations Economic Commission for Africa

• Most countries in North Africa are struggling with searing poverty and economic vulnerabilities.
• Work opportunities in the region are limited especially for the women and youth. Most workers are engaged in low-productivity informal jobs. 
• The World Bank’s Built to Include: Reimagining Social Protection Systems in the Middle East and North Africa report argues that social protection policies could help.

One of the root causes of poverty and vulnerability in North Africa is the decades-old system driving youth and women exclusion in the labour market, a new World Bank report reveals. 

According to the World Bank, most countries in North Africa have been struggling with poverty and vulnerability for decades. Increasingly, work opportunities in the region are getting limited, particularly for women and youth. Across the economies, most workers are engaged in low-productivity informal jobs. 

Safety nets to mitigate youth and women exclusion

The report, Built to Include: Reimagining Social Protection …

• Africa is at the center of global sustainability transitions such as decarbonization of production systems.
• The continent is also seeing electrification of transportation infrastructure and accelerated use of renewable energy.
• African Continent Free Trade Area (AfCFTA) is an opportunity to bridge the inequality and vulnerability gap while fostering recovery and transformation in Africa.

Africa – pummeled by a combination of crises – should swiftly invest in and implement people-centered strategies to mobilize financial resources and accelerate continental economic recovery, the Economic Commission for Africa now says.

Speaking during the opening of the ministerial segment of the 55th Session of ECA’s Conference of African Ministers of Finance, Planning and Economic Development, in Ethiopia, Executive Secretary Antonio Pedro said Africa was at the center of global sustainability transitions, such as decarbonization of production systems, electrification of transportation infrastructure and accelerated use of renewable energy, which he said should underpin its recovery from …

The African Development Bank urged development finance institutions, NGOs, farmer cooperatives and the private sector to come up with more effective financing solutions for Africa’s fertilizer value chains.

The Bank’s call came during the Argus Africa Fertilizer Conference held last week. The theme of the conference was Supporting the fertilizer value chain to improve agricultural productivity and economic growth in the region.

“Appropriate investment and financing of the entire fertilizer value chain has become a precondition for achieving our continental objectives in the area of agricultural development,” said Marie-Claire Kalihangabo, coordinator of the Africa Fertilizer Financing Mechanism(AFFM), during a forum on the sidelines of the Conference.

AFFM is a Fund managed by the African Development Bank to accelerate agriculture development in line with the Bank’s High-5 priority, the Sustainable Development Goals, Africa Food Security Vision and the African Union’s Agenda 2063.

Also Read: “Nobody eats GDP” says African Development Bank

Kenya has stepped up efforts to curb illicit financial flows (IFFs) through the signing of theYaoundé Declaration, with Africa losing $50 to $60 billion annually through illicit financial flows.

The National Treasury Acting Cabinet Secretary Ukur Yatani has provided the much needed shot in the arm for the Kenya Revenue Authority (KRA) efforts to tackle illicit financial flows through the Yaoundé Declaration.

While welcoming the commitment by the Government, KRA Commissioner General Githii Mburu said the instrument focuses on improving international tax cooperation through enhanced information sharing among the African Union (AU) member states to curb illicit financial flows.

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“KRA is encouraged by the Government’s swift moves to prioritize the signing of international treaties that will accelerate efforts to curb international tax evasion,” Githii said.

In a communique to the Chairperson of the Global Forum on …