Category: ECONOMY

To tackle poverty, Africa needs welfarist policies and people-centred development, says African Development Bank President Adesina

Mr Mohammed

ABIDJAN, Ivory Coast, March 8, 2024/ — President of the African Development Bank Group (www.AfDB.org) Dr. Akinwumi Adesina has appealed to leaders in Nigeria and across Africa to make poverty history as he outlined a compelling case for welfarist policies and people-centred development. “Given the high levels of poverty in Africa, and Nigeria, what is needed are welfarist policies that exponentially expand opportunities for all, reduce inequalities, improve the quality of life of people,” Adesina said as he received the prestigious Awolowo prize for leadership at a colourful ceremony in Lagos…

President Ramkalawan pledges the commitment of Seychelles to ensure Sustainable Tourism

Mr Mohammed

Dubai, 13th February 2024: The President of the Republic, Mr. Wavel Ramkalawan joined several other world leaders at the World Governments Summit (WGS) 2024 currently being held in Dubai where he delivered his main address focussing on Seychelles’ Initiatives and Approaches to Ensure Sustainable Tourism and Balancing Preservation. In his address to world leaders at the event, the Head of State underlined the pivotal role that Seychelles is playing in conservation, implementing various initiatives to promote sustainable tourism and safeguarding the nation’s ecological balance and economic well-being. He touched upon…

From COP28 to a circular world: Investments need to focus on the circular economy alongside renewables

Mr Mohammed

In the wake of COP28, which called upon parties to transition away from fossil fuels, the World Circular Economy Forum 2024 (WCEF2024) emerges as a landmark event that highlights the circular economy as the premier post-fossil fuel investment frontier. WCEF2024 will take place in Brussels, Belgium from 15-18 April, and convenes thousands of experts to explore the vast opportunities that the circular economy presents. HELSINKI, 24 January 2024 – The transition from fossil fuels to renewables is imperative, yet alongside this, a strong focus on circularity is also needed. This…

India to lead worldwide consumer growth with 31% of new consumers; digital economy to surpass US$1 trillion in Latin America (LatAm) and Africa

Mr Mohammed

CURITIBA, Brazil, January 25, 2024/ — Clients in major rising economies like Brazil, India, Kenya, and Nigeria are pulling the global digital market up by paying online purchases with instant payments, transfers, and other alternative payment methods – including for B2B transactions; Cards are still strong in digital, with high penetration of domestic brands and debit bringing new consumers to the online sales world, points out the new EBANX’s (www.EBANX.com) Beyond Borders study; Digital payments in Africa have jumped from a 23% to a 46% penetration rate in less than eight years and…

Ghana wants to make importing food like rice and tomatoes more costly: expert explains why it’s a bad idea

Mr Mohammed

Published: January 22, 2024 4.19pm SAST Sylvanus Kwaku Afesorgbor Associate Professor, Agri-Food Trade and Policy, University of Guelph Ghana, like many other developing nations, relies heavily on imports of food and consumer goods to feed its population. For instance, Ghana imports 55% of the rice that is consumed locally. The country’s import dependence is primarily a consequence of the production of low-value primary products without substantial value addition. To forestall over-dependence on foreign goods, the government has proposed a trade restrictive policy via a legislative instrument on 22 major items. It has justified the policy on…

Africa-Caribbean Trade and Business to get a booster

Mr Mohammed

London, Great Britain, January 20, 2024, WMG has announced the organization of a virtual AFRICA – CARIBBEAN ACHIEVERS’ SUMMIT from 04 to 05 March, 2024 between 01 PM to 06 PM BST, on theme: Corporate Africa, the 6th Region, AfCFTA and Beyond to promote trade and Business between Africa and the Caribbean. The Summit will be an unprecedented 2-day event that will parade some of Africa and Caribbean’s most powerhouse entrepreneurs, start-ups and business owners. They will share and discuss some of the key strategies, processes, innovative ideas, skill sets…

Global Black Impact Summit (GBIS) 2024: Enabling Black-Owned Businesses to Go Global

Mr Mohammed

DUBAI, United Arab Emirates, January 19, 2024/ — Black-owned businesses have emerged as integral players in the global economy, able to foster economic empowerment and contribute to enhanced diversity and inclusion in the workplace. In the United States, the number of Black-owned businesses increased by nearly 14% pre-pandemic and accounted for a larger share of increases in revenues, employees and payrolls than other racial groups. Marked by rising Black entrepreneurship rates and growing demand for minority-owned businesses, there is a unique opportunity for Black-owned brands to play an even more…

Burundi: African Development Bank helps train managers on programme-budget implementation in public administration

Mr Mohammed

ABIDJAN, Ivory Coast, January 18, 2024/ — The African Development Bank (www.AfDB.org) has supported the capacity building of about 50 managers from Burundi’s public administration to consolidate implementation of the programme budget currently under deployment. The training sessions, which ran from 22 November to 23 December 2023, covered the preparation of work plans and the annual budget, quarterly progress reports, and annual performance reports in addition to developing a results-oriented public investment programme. Training also covered the identification of public-private partnership projects, pre-assessments and contract negotiations. Course participants welcomed the great…

Leveraging Islamic Finance for the benefit of UK businesses in Saudi Arabia

Mr Mohammed

Story: Mohammed A. Abu The UK Export Finance(UKEF) has guaranteed the country’s largest ever Murabaha facility for USD700.00 in a maiden landmark Middle Eastern deal signed by Qadiyya Investment Company supported by the Public Investment Fund of the Kingdom of Saudi Arabia, to finance the construction of the Six Flags City Theme Park in the country. The project, the financing of which is based on procuring goods and services from UK exporters, is being undertaken by a joint venture led by Bouygues Bâtiment International and Almabani General Contractors in a…

Providing Islamic Fintech Solutions to the IF Industry for Sustainable Development

Mr Mohammed

Report: Mohammed A.Abu The Islamic Development Bank Institute(IsDBI) in partnership with EZBusiness,a private Business Consultancy firm has kicked off the development of the pioneering Islamic Finance Knowledge Pavilion Marketplace, an official statement distributed by the APO Group on behalf of the Institute said in Jeddah, Sunday. The Pavilion, according the statement, will provide a digital marketplace of validated solution providers (institutions, consultants, and experts) in Islamic finance and economic development, and offer a one-stop shop for listing opportunities and seamless digital experience in the matchmaking of suppliers and customers. Phase…