Browsing: World Economic Forum

• Every so often, Africa is being forced to choose sides between China, Russia, and the West. 
• However, to win big, Africa must speak in one voice and trade as a unit in the new world order
• What’s more, Africa’s vas resource endowments can strengthen the continent’s resilience of its Transatlantic Alliance.

From friend-shoring brought about by COVID-19, then the Russia-Ukraine war, and now escalations in conflict in the Gaza strip, a new world order is taking shape, and Africa must align itself.

The big question for Africa is who to ally with and who to forego. Alignments with China are almost unavoidable, yet they place African economies at loggerheads with the West. While support for Israel pays off, it turns African countries into easy targets for the increasingly complex terror networks taking root on the continent.

Then there is the need to diversify sources of food and fertilizer imports, and …

• The central role of human capital in development is fast catching up with the developing world.
• Tanzania President Suluhu Hassan says there is no right time to deliberate on the human capital issue than now.
• President Ruto of Kenya says Africa must deliberately to make it possible for the youth to access job opportunities.

The vital role of Africa’s human capital is indispensable. It is a powerful tool in driving the growth of economic investments in the continent of 1.3 billion people. Africa has a combined GDP of nearly $3.1 trillion and over 40 percent of the population is under the age of 15 years and younger. It is therefore important that Africa’s human capital is aligned optimally to foster growth.

The central role of human capital in development is fast catching up with the developing world. It is in light of this that the just ended Africa Human Capital …

• Tanzania President Samia Suluhu has urged the world to look to Africa for energy amid the climate, energy and geopolitical crises that have been raging for some years now.
• Speaking during the 53rd World Economic Forum Annual Meeting as a session on  “Repowering the World” Suluhu said Africa has everything when it comes to energy. 
• Africa needs a lot of energy as many Fourth Industrial Revolution technologies are being applied there and a lot of related manufacturing is carried out there.

Tanzania President Samia Suluhu has urged the world to look to Africa for energy amid the climate, energy and geopolitical crises that have been raging for some years now. 

Speaking during the 53rd World Economic Forum Annual Meeting as a session on  “Repowering the World” Suluhu said Africa has everything when it comes to energy. 

“It is time the world looked to Africa for energy. We have everything when …

Idris Elba and Sabrina Dhowre Elba were honoured with the 2023 Crystal Award at the World Economic Forum in Davos for their leadership in advocating for poor small-scale farmers worldwide. The Crystal Award recognizes exceptional artists and cultural leaders whose contributions to society have made a tangible impact on improving the state of the world.

As Goodwill Ambassadors for the United Nations’ International Fund for Agricultural Development (IFAD) since 2020, the Elbas have been vocal supporters of greater investment in agriculture and rural development, particularly in Africa, where severe weather events and conflicts have further impacted farmers’ ability to produce food for their families, communities, and countries. Despite the vital role these farmers play in ensuring global food security, 75 percent of the world’s hungry and poorest people live in rural areas of developing countries.

The Importance of Small-Scale Farmers in Africa

Small-scale farmers play a vital role in feeding …

In the East African powerhouse, agriculture insurance startup Pula Advisors was featured on the list for its innovation and impact in using technology to provide agriculture insurance to millions of smallholder farmers in emerging markets.

The firm which was founded in 2014 has used technology products through agriculture insurance and digital agronomy to advise and ensure many farmers adapt to an increasingly unpredictable climate.

“Farmers in emerging markets are the most hardworking citizens of the world yet the most likely to already feel the impact of climate change. The future is in farmers’ hands; they only need the appropriate technology and tools and then they can feed the world,” The firm’s CEO Thomas Njeru said.…

Climate change in Africa costs a lot, and climate extremes hit the region hardest. Between 2014 and 2018, roughly $5 per year, a person was the adaptation funding to each African – standing on less than $5.5 billion per year (World Economic Forum).

It is more than fair to say without financial support, climate change will probably push Africa’s impoverishment to a whole new level, as millions of Africa might be into extreme poverty by 2030.

The latter proves Africa to be at a relatively disadvantageous position as it contributes the least to global emissions and climate change. Yet, it receives minor financial support towards adaption.

READ: COP26 All Talk, No Walk

The previous 26^TH United Nations (UN) Climate Change Conference of the Parties (COP26), dubbed “the world’s best last chance”, provided the global stage with failure.

Despite promising to double funding, high-income countries (and high global emitters) failed …

The largest global free trade area by countries is poised to transform Africa’s economic prospects and it could not have come at a more interesting time.

For reasons I won’t get into in this article, the world has witnessed a tremendous rise in populism, protectionism and nationalism. Popular choices in key economies have shifted the status quo bringing into question well-established political and economic powerhouses. With the arrival of the pandemic, trust in governments across the world has diminished and weak leaders in developed economies have found theirselves exposed.

In my view, these elements ironically created a perfect storm for the launch of AfCFTA, the African Continental Free Trade Area. Global trade is going through deep changes either for fears of infection or due to concepts of self economic preservation in smaller developed countries. Border enforcement across the world is shifting on a daily basis and there’s a real …

According to a report by the World Economic Forum on Africa, mega-solar projects – large-scale installations capable of producing upwards of hundreds of megawatts of power – are generating much-needed electricity in countries all over the world.

In sunny Southern Africa, however, the report says, a historic lack of public-private partnerships outside of South Africa and, until recently, Zambia, to develop such projects has left much of the region’s vast solar power potential largely untapped.

But Botswana and Namibia are poised to change this trend, the report says. The two neighbouring countries will be supported by the World Economic Forum’s Global Future Council on Energy – which includes organizations such as the World Bank Group, International Finance Corporation (IFC), African Development Bank, Africa Renewable Energy Initiative, New Partnership for Africa’s Development, the International Renewable Energy Agency (IRENA), and the US government-led Power Africa initiative to realise this dream.

“This multi-phased …