Month: November 2024

COP29 ends with compromise on climate financing

Mr Mohammed

The UN climate change conference ended on 24 November with a pledge from developed nations to contribute at least $300 billion annually to support adaptation. After two weeks of intense negotiations, delegates at COP29, formally the 29th Conference of Parties to the UN Framework Convention on Climate Change (UNFCCC), agreed to provide this funding annually, with an overall climate financing target to reach “at least $1.3 trillion by 2035”. This summit had been dubbed the ‘climate finance COP’, and representatives from all countries were seeking to establish a new, higher…

Solutions for Igniting Africa’s Digital Revolution – Insights from “Unstoppable Africa”

Mr Mohammed

Africa is steadily progressing in its digital transformation, drawing on the continent’s resources, creativity, and youthful demographic to drive change—yet there remains significant ground to cover. As the digital era continues to accelerate, we must seize this opportunity to position Africa as a key player on the global stage. If we fail to act decisively and work together, we risk being sidelined in the global digital landscape. At the recent “Unstoppable Africa” event hosted by the Global Africa Business Initiative in New York on the sidelines of the UN General…

5th Session of the Intergovernmental Negotiating Committee to Develop an International Legally Binding Instrument on Plastic Pollution, Including in the Marine Environment

Mr Mohammed

In their last scheduled meeting to agree on treaty text to “end plastic pollution,” negotiators may base their discussions on a new non-paper by INC Chair Luis Vayas that builds on the common ground between countries. With seven days left to agree on a new treaty text on plastic pollution, Kim Wan Sup, Minister of Environment, Republic of Korea, set the stage for the final scheduled round of negotiations, stressing that “we must end plastic pollution before plastic pollution ends us.” As science continues to reveal the layers of impact due to…

Launch of World Advanced Manufacturing & Logistics Expo & Summit (WAM Morocco) 2025 to Advance the Country’s Shift Towards Next-Generation Industries and High-Value Manufacturing

Mr Mohammed

CASABLANCA, Morocco, November 25, 2024/ — KAOUN International (www.KAOUN-int.com/), Organizer of GITEX, Launches WAM Morocco 2025 with Commitment and Unified Support from Morocco’s Ministry of Industry and Trade, CGEM, and AMDIE; WAM Morocco 2025 Will Spotlight Advanced Manufacturing, Sustainable Practices, Next-Gen Logistics, and AI Innovation to Accelerate Industrial Growth. The World Advanced Manufacturing & Logistics Expo & Summit (WAM Morocco) will debut in Casablanca, with unified support to catalyse Morocco’s thriving manufacturing economy towards next-generation industries. Endorsed by the Moroccan Ministry of Industry and Trade and in partnership with key partners,…

Brics+ countries are determined to trade in their own currencies – but can it work?

Mr Mohammed

By:Academic Journalist, Lauren Johnston Associate Professor, China Studies Centre, University of Sydney The Conversation ,First Published,26th November,2024 Photo(Brics Summit 2024) Brics+ countries are exploring how they can foster greater use of local currencies in their trade, instead of relying on a handful of major currencies, primarily the US dollar and the euro. The forum for cooperation among nine leading emerging economies – Brazil, China, Egypt, Ethiopia, India, Iran, Russian Federation, South Africa, United Arab Emirates – emphasised this determination at their 16th summit in October 2024. Economist Lauren Johnston recently wrote a paper on…

eFinance Investment Group and Cassava Technologies Sign Partnership to Drive Business Expansion Across Egypt and Africa

Mr Mohammed

CAIRO, Egypt, November 26, 2024/ — eFinance Investment Group and Cassava Technologies (www.CassavaTechnologies.com) have signed an agreement to explore and identify opportunities for collaboration and joint expansion across Africa. The signing ceremony took place during the 28th Cairo ICT Exhibition and Conference, held under the auspices of President Abdel Fattah El-Sisi. eFinance Investment Group and Cassava Technologies plan to leverage each other’s respective strengths and experience. Cassava Technologies will bring its extensive African footprint, infrastructure, and continental experience, whilst eFinance will bring its strong market presence and reputation as Egypt’s…

Africa must strengthen accountability and governance to prosper — Botswana President Duma Boko

Mr Mohammed

GABORONE, Botswana, November 25, 2024/ — Africa’s economic success and sustainability are intrinsically linked to accountable governance, Botswana’s President, Duma Boko, stressed at the opening of the 2024 African Economic Conference in Gaborone. “Peace and stability in Africa must be anchored on accountable and responsive governance,” the president said adding, “This is a fundamental human right for every African citizen. It sets the requisite bedrock for any form of measure for our economic development and its sustainability.” He also called on African countries to strengthen democracy and uphold the rule…

Dubai Property Market sets new benchmarks with Over 50,000 Sales Transactions

Mr Mohammed

Dubai, United Arab Emirates, 20 November 2024: The real estate market in Dubai continues to grow at an exponential rate, driven by increasing demand as an investment destination, relaxing land ownership regulations, the increasing inflow of expats to the Emirate and convenient payment plans offered by developers. Breaking records in standard Dubai style, sales of real estate in the third quarter of 2024 achieved an unmatched milestone, with a total value of almost AED 141.9 billion ($38.7 billion). This surpasses the previous record of AED 124.07 billion ($33.8 billion) set…

Africa Finance Corporation (AFC) Secures US$300 Million Loan, Expanding Investor Base with Indian Lenders

Mr Mohammed

DUBAI, United Arab Emirates, November 18, 2024/ — Africa Finance Corporation (AFC) the continent’s leading infrastructure solutions provider, has successfully closed a US$300 million India-focused syndicated loan, marking a significant milestone in its ongoing strategy to diversify its international investor base. The transaction introduced a new group of lenders from India, further expanding AFC’s global partnerships. This landmark transaction, commemorated in Dubai, underscores AFC’s robust standing as an investment-grade rated development financial institution with a unique ability to attract diverse global investors, furthering its pivotal mission to catalyse infrastructure development…