Category: AFRICA

The IMF is failing countries like Kenya: why, and what can be done about it

Author: Danny Bradlow Professor/Senior Research Fellow, Centre for Advancement of Scholarship, University of Pretoria First Published,July,2,2024  The recent Kenyan protests are a warning that the International Monetary Fund (IMF) is failing. The public does not think it is helping its member countries manage their economic and financial problems, which are being exacerbated by a rapidly changing global political economy. To be sure, the IMF is not the only cause of Kenya’s problems with raising the funds to meet its substantial debt obligations and deal with its budget deficit. Other causes…

Africa and the Energy Transition: The Nuances, Challenges and Prospects(By Mohammed A.Abu)

Introduction The issue of global warming exacerbated by climate change impact drives the global call for transitioning from fossil fuels energy sources to renewables. The Agreement of the 28th UN Climate Change Conference (COPs 28) held last year in the Dubai Emirate of the United Arab Emirates(UAE) recommended “transitioning away from fossil fuels” that is, gradual rather that immediate phase out as was expected by some parties. Whereas some countries mostly from the global North relatively are transition ready, others with particular reference to oil and gas resources rich African…

Africa- Leveraging Artificial Intelligence (AI) for Good Health: The New Frontier in Social Innovation to accelerate progress toward Sustainable Development Goal 3 (SDG 3)

JOHANNESBURG, South Africa, July 2, 2024/ — In the evolving landscape of global health, digital innovation emerges as a beacon of hope, pushing the boundaries of what is possible in healthcare access, quality, and affordability. A recent white paper by the World Economic Forum, produced in collaboration with the Schwab Foundation for Social Entrepreneurship, EY, and Microsoft, sheds light on an exciting paradigm shift: the integration of Artificial Intelligence (AI) in social innovation, especially within healthcare. AI uptake has the potential to improve immunisation programmes, supply chains, referrals, diagnoses, drug…

Boko Haram and western education: the surprising views of some Nigerians who left the insurgency group

Co-Authors,Associate Professor Hannah Hoechner & Professor Yagana Bukar Universities of East Anglia and  Maiduguri respectively First Published,1 July,2024 The world has come to associate the insurgency in north-east Nigeria with the slogan “western education is forbidden”. This is how “Boko Haram” – the name given to the insurgents – is commonly translated from the Hausa language into English. But “Boko Haram” is not what the insurgents call themselves or would like to be called. Different factions operate under different names. None of them use “Boko Haram”. One faction calls itself Jama’at Ahl al-Sunna…

Local Content in Oil & Gas: A Catalyst for Shared Growth in Namibia

JOHANNESBURG, South Africa, July 2, 2024/ — In the oil and gas industry, local content refers to the development of local industries, workforce and resources to support the operations of international oil companies (IOC) within a country. For Namibia, fostering ‘Namibian Content’ can significantly enhance economic growth, social development and technological advancement. Leveraging Local Content to Drive Economic Growth Local content policies can be a catalyst for economic growth by ensuring that a significant portion of the industry’s value chain is retained within the country. By promoting the use of…

Inspiring Young Minds: Canon and Greenwood House School Introduce Canon Academy Juniors Programme to Spark Interest in Photography

DUBAI, United Arab Emirates, July 1, 2024/ — The Canon Academy Juniors programme (www.Canon-CNA.com) believes in teaching our youth to empower them and give them confidence by fostering a new hobby and developing their creative skills; The programme, offers two classes tailored to different age groups (8-12 and 13-16) which provide kids and teens with hands-on photography skills. Canon Central and North Africa (CCNA) is thrilled to announce a partnership with Greenwood House School in Lagos, Nigeria, through it’s Canon Academy Juniors Programme. This collaborative initiative aims to inspire and…

Webb Fontaine Unveils Sourcemind Academy in Guinea

CONAKRY, Guinea, June 28, 2024/ — Webb Fontaine (www.WebbFontaine.com), a leading provider of solutions for trade facilitation, is pleased to announce the launch of Sourcemind Academy in Guinea. This innovative educational venture, backed by Webb Fontaine, is set to transform the tech education landscape by offering high-level training, cutting-edge pedagogical design and experienced professional trainers to future software engineers and technology enthusiasts. The launch of Sourcemind Academy in Guinea marks a significant milestone in Webb Fontaine’s ongoing commitment to corporate social responsibility, and to promoting educational development in emerging markets.…

African Development Bank expands urban support program to six new cities

TUNIS, Tunisia, June 26, 2024/ — The African Development Bank’s (www.AfDB.org) Urban and Municipal Development Fund (UMDF) (https://apo-opa.co/4exYmAh) has expanded its African Cities Program to cover six new cities across the continent. The expansion, approved by the Fund’s 13th Oversight Committee, will help bolster urban development and address critical challenges faced by rapidly growing African cities. The newly included cities are: Kolwezi, the Democratic Republic of Congo: mining town grappling with rapid urban growth and environmental issues. Grand Nokoué, Benin: an economic hub with over two million inhabitants. Buffalo City, South Africa:…

Afreximbank signs two deals totaling US$80 million for Zimbabwe’s CBZ Bank

NASSAU, The Bahamas, June 25, 2024/ — In two deals signed at the recently concluded Afreximbank Annual Meetings, African Export-Import Bank (Afreximbank) (www.Afreximbank.com) is providing a US$60 million line of credit and a US$20 million Afreximbank Trade Facilitation Programme (AFTRAF) facility to CBZ Bank Limited, Zimbabwe’s largest bank. The line of credit facility will strengthen financial intermediaries’ capacity to support SMEs through financing product and capacity building, indirectly support export-oriented Zimbabwean businesses and enable them to generate much-needed foreign exchange, thus easing the pressure on foreign currency in the country.…

Africa Finance Corporation (AFC) invests in Africa’s largest copper complex, driving mineral beneficiation on the continent

KINSHASA, Democratic Republic of the Congo, June 26, 2024/ — Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, is pleased to announce the closing of a US$150 million senior loan with Kamoa Copper to support the expansion of the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo. The loan by AFC, who acted both as lender and arranger, aligns with the Corporation’s commitment to support the local beneficiation of Africa’s abundant mineral resources to unlock the continent’s economic prosperity. Kamoa-Kakula is a world-class, high-grade, low carbon-intensive,…