Africa has world’s second-fastest banking growth and profitability: McKinsey
Africa has emerged as the world’s No. 2 banking market in terms of growth and profitability, according to a study by management consulting firm McKinsey and Company.
Low banking penetration and income levels, as well as economies that are largely cash-based and viewed as a high credit risk, have long been considered major obstacles to the development of the continent’s banking sector.
But the McKinsey report released on Wednesday — drawing on performance data from 35 of Africa’s leading banks and surveys of banking executives and customers — said the number of banked Africans grew from 170 million in 2012 to nearly 300 million last year.
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https://www.cnbcafrica.com/news/special ... -216274365
AFRICA
One of the most transformative scientific gatherings in Africa is about to happen, here’s how you can be part of it
We are less than 15 days from one of the most transformative scientific gatherings. More than just a scientific event, the second Next Einstein Forum (NEF) Global Gathering to be held in Kigali, Rwanda on 26-28 March 2018, wants to spark new ideas, raise awareness on the possible impact of current and emerging technologies, stimulate Sciences, Technology, Engineering and Mathematics (STEM) actors with a focus on implementation, strengthen the link between knowledge and knowhow and further build a strong African Community of Scientists.
The NEF hopes that showcasing innovative solutions, sometimes years ahead of industrial needs, relevant actors can make sure the necessary “brainpower” is ready to translate basic science into impactful results.
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https://www.cnbcafrica.com/sponsored/20 ... -216274365
We are less than 15 days from one of the most transformative scientific gatherings. More than just a scientific event, the second Next Einstein Forum (NEF) Global Gathering to be held in Kigali, Rwanda on 26-28 March 2018, wants to spark new ideas, raise awareness on the possible impact of current and emerging technologies, stimulate Sciences, Technology, Engineering and Mathematics (STEM) actors with a focus on implementation, strengthen the link between knowledge and knowhow and further build a strong African Community of Scientists.
The NEF hopes that showcasing innovative solutions, sometimes years ahead of industrial needs, relevant actors can make sure the necessary “brainpower” is ready to translate basic science into impactful results.
More...
https://www.cnbcafrica.com/sponsored/20 ... -216274365
Most of Africa’s Leaders Sign On to Continent-Wide Free Trade Pact
NAIROBI, Kenya — More than 40 African countries signed a free trade pact on Wednesday that the nations hope will fulfill a long-held dream of greater economic integration on the continent.
But among the holdouts are two of Africa’s biggest economies, Nigeria and South Africa, raising concerns about whether the agreement can make good on its promises.
The African Continental Free Trade Area, which has been in the works for two years, aims to unite participating countires into a single trading market that would be one of the largest free trade zones in the world since the World Trade Organization was created in 1995.
Of Africa’s 55 countries, 44 signed the pact.
“Amongst African states in general, there has long been a hankering for a trade agreement that transcends national boundaries,” said John Campbell, a senior fellow and Africa expert at the Council on Foreign Relations in New York. “In Africa more than any other part of the world, national boundaries are seen as artificial, essentially as a colonial imposition.”
“Moving from an aspiration to the actual specific words on a page, of course, becomes very much more complicated,” he added.
More...
https://www.nytimes.com/2018/03/21/worl ... 3053090322
NAIROBI, Kenya — More than 40 African countries signed a free trade pact on Wednesday that the nations hope will fulfill a long-held dream of greater economic integration on the continent.
But among the holdouts are two of Africa’s biggest economies, Nigeria and South Africa, raising concerns about whether the agreement can make good on its promises.
The African Continental Free Trade Area, which has been in the works for two years, aims to unite participating countires into a single trading market that would be one of the largest free trade zones in the world since the World Trade Organization was created in 1995.
Of Africa’s 55 countries, 44 signed the pact.
“Amongst African states in general, there has long been a hankering for a trade agreement that transcends national boundaries,” said John Campbell, a senior fellow and Africa expert at the Council on Foreign Relations in New York. “In Africa more than any other part of the world, national boundaries are seen as artificial, essentially as a colonial imposition.”
“Moving from an aspiration to the actual specific words on a page, of course, becomes very much more complicated,” he added.
More...
https://www.nytimes.com/2018/03/21/worl ... 3053090322
Why Africa’s free trade area offers so much promise
Excerpt:
The agreement has the potential to deliver a great deal for countries on the continent. The hope is that the trade deal will trigger a virtuous cycle of more intra African trade, which in turn will drive the structural transformation of economies – the transition from low productivity and labour intensive activities to higher productivity and skills intensive industrial and service activities – which in turn will produce better paid jobs and make an impact on poverty.
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https://www.cnbcafrica.com/news/east-af ... -216274365
Excerpt:
The agreement has the potential to deliver a great deal for countries on the continent. The hope is that the trade deal will trigger a virtuous cycle of more intra African trade, which in turn will drive the structural transformation of economies – the transition from low productivity and labour intensive activities to higher productivity and skills intensive industrial and service activities – which in turn will produce better paid jobs and make an impact on poverty.
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https://www.cnbcafrica.com/news/east-af ... -216274365
African science
An ambitious African-science project is getting into its stride
New campuses are being built, and new talent nurtured
AFRICA is home to what may be the world’s oldest counting tools. The Ishango bone from the Democratic Republic of Congo (both sides of which are pictured above) and the Lebombo bone from South Africa date from 20,000 years and 43,000 years ago respectively. Both are baboon fibulae that have been notched by human hand. Some archaeologists think they were used as tally sticks.
These artefacts were cited last week at a gathering of the Next Einstein Forum, held in Kigali, Rwanda, as examples of Africa’s historical role in developing mathematics. The forum seeks to promote both science in Africa and African scientists. Its meeting in Kigali was the largest general scientific gathering ever held in Africa. Nearly 1,600 people attended.
More...
https://www.economist.com/news/science- ... m=20180410
An ambitious African-science project is getting into its stride
New campuses are being built, and new talent nurtured
AFRICA is home to what may be the world’s oldest counting tools. The Ishango bone from the Democratic Republic of Congo (both sides of which are pictured above) and the Lebombo bone from South Africa date from 20,000 years and 43,000 years ago respectively. Both are baboon fibulae that have been notched by human hand. Some archaeologists think they were used as tally sticks.
These artefacts were cited last week at a gathering of the Next Einstein Forum, held in Kigali, Rwanda, as examples of Africa’s historical role in developing mathematics. The forum seeks to promote both science in Africa and African scientists. Its meeting in Kigali was the largest general scientific gathering ever held in Africa. Nearly 1,600 people attended.
More...
https://www.economist.com/news/science- ... m=20180410
Africa’s big carbon emitters admit they have a problem
Can they continue developing and still uphold the Paris climate agreement?
Excerpt:
Other countries are following South Africa’s lead and embracing coal, the filthiest fuel. A dozen of them are building or planning new coal-fired power plants totalling 40GW, according to Coalswarm, a watchdog. A big one planned for the old port town of Lamu in Kenya is one of many Chinese-backed coal projects in Africa.
Policymakers at the latest African climate summit, which concluded in Nairobi on April 13th, acknowledged the continent’s carbon problem. But they worried that development might slow if Africa meets its commitment under the Paris climate agreement, which aims to limit global warming. The two imperatives often pull in opposite directions. Africa’s sunny skies and long, blustery coastlines offer near-limitless solar- and wind-energy potential. But what African economies need now are “spinning reserves”, which can respond quickly to volatile demand, says Josh Agenbroad of the Rocky Mountain Institute, a think-tank in Colorado. Fossil fuels deliver this; renewables do not.
Foreign aid, on which many African countries depend, often leads to more emissions. To ensure that their money is used efficiently, and not stolen, Western development agencies favour large tried-and-tested projects, such as fossil-fuel plants. So do the Chinese, who want to keep their engineers busy now that they have stopped building coal-fired power plants at home.
More...
https://www.economist.com/news/middle-e ... m=20180423
Can they continue developing and still uphold the Paris climate agreement?
Excerpt:
Other countries are following South Africa’s lead and embracing coal, the filthiest fuel. A dozen of them are building or planning new coal-fired power plants totalling 40GW, according to Coalswarm, a watchdog. A big one planned for the old port town of Lamu in Kenya is one of many Chinese-backed coal projects in Africa.
Policymakers at the latest African climate summit, which concluded in Nairobi on April 13th, acknowledged the continent’s carbon problem. But they worried that development might slow if Africa meets its commitment under the Paris climate agreement, which aims to limit global warming. The two imperatives often pull in opposite directions. Africa’s sunny skies and long, blustery coastlines offer near-limitless solar- and wind-energy potential. But what African economies need now are “spinning reserves”, which can respond quickly to volatile demand, says Josh Agenbroad of the Rocky Mountain Institute, a think-tank in Colorado. Fossil fuels deliver this; renewables do not.
Foreign aid, on which many African countries depend, often leads to more emissions. To ensure that their money is used efficiently, and not stolen, Western development agencies favour large tried-and-tested projects, such as fossil-fuel plants. So do the Chinese, who want to keep their engineers busy now that they have stopped building coal-fired power plants at home.
More...
https://www.economist.com/news/middle-e ... m=20180423
Millions of urban Africans still don’t have electricity: this is how to fix the problem…
At least 110 million of the 600 million people still living without access to electricity in Africa live in urban areas. Most are within a stone throw from existing power grid infrastructure.
Excerpt:
So, why aren’t these potential consumers connected to the formal grid?
Urban communities often face many challenges in obtaining electricity access. These range from the prohibitively high cost of a connection, to the challenges of informal housing, the impact of power theft on services and socio-political marginalisation. In many cases, these obstacles are difficult to address successfully.
However, recent advances in distributed renewable energy technologies mean a more affordable, faster to deploy, cleaner alternative is at hand in Africa. One that can step in where policy and utility reforms are wanting.
More...
https://www.cnbcafrica.com/insights/ene ... -216274365
At least 110 million of the 600 million people still living without access to electricity in Africa live in urban areas. Most are within a stone throw from existing power grid infrastructure.
Excerpt:
So, why aren’t these potential consumers connected to the formal grid?
Urban communities often face many challenges in obtaining electricity access. These range from the prohibitively high cost of a connection, to the challenges of informal housing, the impact of power theft on services and socio-political marginalisation. In many cases, these obstacles are difficult to address successfully.
However, recent advances in distributed renewable energy technologies mean a more affordable, faster to deploy, cleaner alternative is at hand in Africa. One that can step in where policy and utility reforms are wanting.
More...
https://www.cnbcafrica.com/insights/ene ... -216274365
Op-Ed: Why the world should follow China and invest in Africa’s future
Excerpt:
In short, Africa is very much “open for business”, particularly for investors who are chasing yield and diversification. China’s got the message, committing to US$60 billion in new investment in major capital projects across Africa. Indeed, China has been an integral part of Africa’s rejuvenation by becoming Africa’s largest export destination, its largest source of imports and more recently its largest source capital, both equity and debt.
These are positive signals, but a lot more capital is still needed, particularly from large institutional investors. Estimates put the African infrastructure deficit at around US$90 billion every year for the next decade. Across the continent, 620 million people still don’t have electricity; 319 million people are living without access to reliable drinking water; and only 34% have road access.
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https://www.cnbcafrica.com/news/financi ... -216274365
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Addressing Africa’s data deficit
https://www.cnbcafrica.com/news/financi ... -216274365
*******
How the youth can solve Africa’s challenges
https://www.cnbcafrica.com/videos/2018/ ... -216274365
Excerpt:
In short, Africa is very much “open for business”, particularly for investors who are chasing yield and diversification. China’s got the message, committing to US$60 billion in new investment in major capital projects across Africa. Indeed, China has been an integral part of Africa’s rejuvenation by becoming Africa’s largest export destination, its largest source of imports and more recently its largest source capital, both equity and debt.
These are positive signals, but a lot more capital is still needed, particularly from large institutional investors. Estimates put the African infrastructure deficit at around US$90 billion every year for the next decade. Across the continent, 620 million people still don’t have electricity; 319 million people are living without access to reliable drinking water; and only 34% have road access.
More...
https://www.cnbcafrica.com/news/financi ... -216274365
*******
Addressing Africa’s data deficit
https://www.cnbcafrica.com/news/financi ... -216274365
*******
How the youth can solve Africa’s challenges
https://www.cnbcafrica.com/videos/2018/ ... -216274365
Op:Ed: Africa has the potential to benefit from 4th industrial revolution technologies in ways that aren’t envisaged, here’s how
Talk of artificial intelligence (AI) and the advent of the fourth industrial revolution, has created fear in developed countries that many jobs will be lost to machines and robots, and that economic growth will be stifled by technological advances.
We, however, believe that the African continent may well be able to benefit from these technologies in ways that possibly aren’t envisaged in more developed economies. The continent should also be able to avoid the expensive roll out of outdated technologies and leapfrog to the latest innovations. After all, as Naadiya Moosajee, a World Economic Forum Global Shaper said: “necessity is the mother of invention and in Africa it has been the mother of innovation.”
More...
https://www.cnbcafrica.com/news/technol ... -216274365
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Why nuclear power for African countries doesn’t make sense
Excerpt:
Elsewhere in the world countries like Germany, Belgium and the US are downscaling their nuclear plans or exiting it altogether. The reasons include perceptions of increased risk following the Fukushima disaster in Japan as well as economic factors.
The cost of electricity generation from solar photovoltaic and wind technologies has come down dramatically. It already costs less than power produced by nuclear plants and renewable energy is set to become even cheaper.
Given that South Africa has shelved its nuclear plans on affordability grounds, surely less resourced African countries would find investments like this even more difficult?
More....
https://www.cnbcafrica.com/insights/ene ... -216274365
*******
Accelerating industrialisation in Africa
“Industrialisation is at the core of Africa’s development agenda, the core of which is to reduce poverty and inequality through, amongst others, the creation of decent jobs"
Pretoria, Monday 21 May 2018 – The Human Science Research Council’s 8th African Unity for Renaissance International Conference and Africa Day Expo will bring together continental experts to look at the question of Africa’s industrialisation and associated benefits.
Themed Accelerating Industrialisation in Africa: Implications for Job Creation and Poverty Alleviation, the conference at Saint George Hotel in Irene, Pretoria is scheduled from 23rd to 24th May 2018. Deliberations will culminate in an Africa Day celebration at Ditsong Museums of South Africa on 25th May 2018.
The Conference, which forms part of the South Africa’s Africa Month commemoration, is aimed at bringing together thought leaders and academics who will share their views on the key factors to support the continental vision for industrialisation.
More...
https://www.cnbcafrica.com/sponsored/20 ... -216274365
*******
Why the DRC’s plan to solve food shortages failed
Excerpt:
With more than 60 percent of the world’s unexploited arable land but struggling to feed its surging population, Africa has become the latest laboratory for governments, development agencies and researchers trying to lead a new green revolution.
But experiments like Bukanga Lonzo serve as cautionary tales for those in search of quick fixes, showing how weak investor interest, poor infrastructure and byzantine land regulations can stymie Africa’s agricultural potential.
More...
https://www.cnbcafrica.com/news/special ... -216274365
Talk of artificial intelligence (AI) and the advent of the fourth industrial revolution, has created fear in developed countries that many jobs will be lost to machines and robots, and that economic growth will be stifled by technological advances.
We, however, believe that the African continent may well be able to benefit from these technologies in ways that possibly aren’t envisaged in more developed economies. The continent should also be able to avoid the expensive roll out of outdated technologies and leapfrog to the latest innovations. After all, as Naadiya Moosajee, a World Economic Forum Global Shaper said: “necessity is the mother of invention and in Africa it has been the mother of innovation.”
More...
https://www.cnbcafrica.com/news/technol ... -216274365
********
Why nuclear power for African countries doesn’t make sense
Excerpt:
Elsewhere in the world countries like Germany, Belgium and the US are downscaling their nuclear plans or exiting it altogether. The reasons include perceptions of increased risk following the Fukushima disaster in Japan as well as economic factors.
The cost of electricity generation from solar photovoltaic and wind technologies has come down dramatically. It already costs less than power produced by nuclear plants and renewable energy is set to become even cheaper.
Given that South Africa has shelved its nuclear plans on affordability grounds, surely less resourced African countries would find investments like this even more difficult?
More....
https://www.cnbcafrica.com/insights/ene ... -216274365
*******
Accelerating industrialisation in Africa
“Industrialisation is at the core of Africa’s development agenda, the core of which is to reduce poverty and inequality through, amongst others, the creation of decent jobs"
Pretoria, Monday 21 May 2018 – The Human Science Research Council’s 8th African Unity for Renaissance International Conference and Africa Day Expo will bring together continental experts to look at the question of Africa’s industrialisation and associated benefits.
Themed Accelerating Industrialisation in Africa: Implications for Job Creation and Poverty Alleviation, the conference at Saint George Hotel in Irene, Pretoria is scheduled from 23rd to 24th May 2018. Deliberations will culminate in an Africa Day celebration at Ditsong Museums of South Africa on 25th May 2018.
The Conference, which forms part of the South Africa’s Africa Month commemoration, is aimed at bringing together thought leaders and academics who will share their views on the key factors to support the continental vision for industrialisation.
More...
https://www.cnbcafrica.com/sponsored/20 ... -216274365
*******
Why the DRC’s plan to solve food shortages failed
Excerpt:
With more than 60 percent of the world’s unexploited arable land but struggling to feed its surging population, Africa has become the latest laboratory for governments, development agencies and researchers trying to lead a new green revolution.
But experiments like Bukanga Lonzo serve as cautionary tales for those in search of quick fixes, showing how weak investor interest, poor infrastructure and byzantine land regulations can stymie Africa’s agricultural potential.
More...
https://www.cnbcafrica.com/news/special ... -216274365
Africa Singapore Business Forum (ASBF) 2018
PROMOTING BUSINESS EXCHANGE AND THOUGHT LEADERSHIP BETWEEN AFRICA AND ASIA
28 – 29 August 2018, Singapore
The Africa Singapore Business Forum (ASBF) is the premier platform for business exchange and fostering trade between Africa and Asia.
Organised by Enterprise Singapore, the forum has brought together over 2,000 business and government leaders from 30 countries to explore partnerships and growth opportunities between these two dynamic regions.
ASBF 2018 will address critical issues and identify opportunities in key sectors, including infrastructure, real estate, manufacturing, digital technology, and oil and gas.
More...
https://www.enterprisesg.gov.sg/asbf?ut ... paign=asbf
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Africa is rich in energy resources but power poor, how the AfDB is working to change this
With the lowest power consumption per capita in the world, sub-Saharan Africa is arguably the darkest section of the global village with investments, social and economic growth and jobs creation hobbled by frequent outages, load shedding and total black outs. Over 645 million Africans lack access to electricity.
Yet the continent is rich in energy resources, with well over 10 terawatts of solar potential, 350 gigawatts of hydroelectric potential, 110 gigawatts of wind potential, and an additional 15 gigawatts of geothermal potential. All of these is outside Africa’s huge reserves of coal and gas, which can provide some of the continent’s cheapest electricity.
More....
https://www.cnbcafrica.com/insights/afr ... -216274365
*******
Could this be the solution to combating violent extremism in Africa?
Remote areas in poor nations need far more investment to undercut recruitment by militant armed groups, in a shift from development policies focused most on cities.
More...
https://www.cnbcafrica.com/news/west-af ... -216274365
PROMOTING BUSINESS EXCHANGE AND THOUGHT LEADERSHIP BETWEEN AFRICA AND ASIA
28 – 29 August 2018, Singapore
The Africa Singapore Business Forum (ASBF) is the premier platform for business exchange and fostering trade between Africa and Asia.
Organised by Enterprise Singapore, the forum has brought together over 2,000 business and government leaders from 30 countries to explore partnerships and growth opportunities between these two dynamic regions.
ASBF 2018 will address critical issues and identify opportunities in key sectors, including infrastructure, real estate, manufacturing, digital technology, and oil and gas.
More...
https://www.enterprisesg.gov.sg/asbf?ut ... paign=asbf
*******
Africa is rich in energy resources but power poor, how the AfDB is working to change this
With the lowest power consumption per capita in the world, sub-Saharan Africa is arguably the darkest section of the global village with investments, social and economic growth and jobs creation hobbled by frequent outages, load shedding and total black outs. Over 645 million Africans lack access to electricity.
Yet the continent is rich in energy resources, with well over 10 terawatts of solar potential, 350 gigawatts of hydroelectric potential, 110 gigawatts of wind potential, and an additional 15 gigawatts of geothermal potential. All of these is outside Africa’s huge reserves of coal and gas, which can provide some of the continent’s cheapest electricity.
More....
https://www.cnbcafrica.com/insights/afr ... -216274365
*******
Could this be the solution to combating violent extremism in Africa?
Remote areas in poor nations need far more investment to undercut recruitment by militant armed groups, in a shift from development policies focused most on cities.
More...
https://www.cnbcafrica.com/news/west-af ... -216274365
Africa still lags the rest of the world in generating new scientific knowledge, this is how to fix it…
As figures collated by the World Bank in 2014 show, the continent – home to around 16% of the world’s population – produces less than 1% of the world’s research output.
https://www.cnbcafrica.com/news/special ... -216274365
As figures collated by the World Bank in 2014 show, the continent – home to around 16% of the world’s population – produces less than 1% of the world’s research output.
https://www.cnbcafrica.com/news/special ... -216274365
Sub-Saharan Africa suffers from low rates of upward mobility, this is how bad it is…
In most economies, parents would like to see their children have a higher standard of living, and with it a better life, than they had themselves. In Africa this unfortunately has not been the case for most.
In most economies, parents would like to see their children have a higher standard of living, and with it a better life, than they had themselves. In Africa this unfortunately has not been the case for most. In this post which was first published on the World Bank’s Let’s Talk Development blog, and can be viewed here: In which countries do children have the best chances to surpass their parent’s education? – Roy van der Weide and Ambar Narayan look at upward mobility around the world.
More....
https://www.cnbcafrica.com/news/financi ... -216274365
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Africa Oil & Power returns to Cape Town connecting the continent’s top leaders
Global leaders in the oil and energy industry will highlight Africa Oil & Power 2018 in Cape Town, including H.E. Mohammed Sanusi Barkindo, Secretary General of OPEC, Dr Sun Xiansheng, Secretary General of the International Energy Forum and H.E. Mahaman Laouan Gaya, Secretary General of the African Petroleum Producers’ Organization.
AOP, the continent’s leading platform for energy development and discussion, is returning to Cape Town for the third year, bringing together an elite cadre of government officials, private sector executives and industry experts to address the key issues in Africa’s oil and power sectors.
The theme for the conference — Energy Coalitions — will drive the conversation about the best way to drive Africa’s energy sectors forward. From regional cooperation at the government level and private companies coordinating on development and financing deals to how the private and public sectors can collaborate together, focusing on current and new partnerships will be the focus of AOP 2018.
More...
https://www.cnbcafrica.com/sponsored/20 ... -216274365
*******
Why people living in Africa need insurance coverage against natural disasters
Mozambique was the site of one of Africa’s most devastating natural disasters in recent times. In the year 2000 floods killed 700 people, displaced 60,000, and left more than 500,000 needing humanitarian assistance.
The disaster also inflicted economic damage totalling over US$273 million – that’s six times Mozambique’s GDP.
Unfortunately, neither the citizens nor the government had disaster insurance. This meant that the country had to seek donations and humanitarian aid to rebuild. At the time, Mozambique’s economy was already constrained by poverty and low levels of social development. So the aftermath of the floods was another blow to the economy.
Compare this to the 2010 earthquake that devastated Christchurch in New Zealand. There, over 81% of the losses were covered by disaster insurance. This ensured a quick recovery, and reduced the economic burden on both the government and the people.
More...
https://www.cnbcafrica.com/news/special ... -216274365
In most economies, parents would like to see their children have a higher standard of living, and with it a better life, than they had themselves. In Africa this unfortunately has not been the case for most.
In most economies, parents would like to see their children have a higher standard of living, and with it a better life, than they had themselves. In Africa this unfortunately has not been the case for most. In this post which was first published on the World Bank’s Let’s Talk Development blog, and can be viewed here: In which countries do children have the best chances to surpass their parent’s education? – Roy van der Weide and Ambar Narayan look at upward mobility around the world.
More....
https://www.cnbcafrica.com/news/financi ... -216274365
*******
Africa Oil & Power returns to Cape Town connecting the continent’s top leaders
Global leaders in the oil and energy industry will highlight Africa Oil & Power 2018 in Cape Town, including H.E. Mohammed Sanusi Barkindo, Secretary General of OPEC, Dr Sun Xiansheng, Secretary General of the International Energy Forum and H.E. Mahaman Laouan Gaya, Secretary General of the African Petroleum Producers’ Organization.
AOP, the continent’s leading platform for energy development and discussion, is returning to Cape Town for the third year, bringing together an elite cadre of government officials, private sector executives and industry experts to address the key issues in Africa’s oil and power sectors.
The theme for the conference — Energy Coalitions — will drive the conversation about the best way to drive Africa’s energy sectors forward. From regional cooperation at the government level and private companies coordinating on development and financing deals to how the private and public sectors can collaborate together, focusing on current and new partnerships will be the focus of AOP 2018.
More...
https://www.cnbcafrica.com/sponsored/20 ... -216274365
*******
Why people living in Africa need insurance coverage against natural disasters
Mozambique was the site of one of Africa’s most devastating natural disasters in recent times. In the year 2000 floods killed 700 people, displaced 60,000, and left more than 500,000 needing humanitarian assistance.
The disaster also inflicted economic damage totalling over US$273 million – that’s six times Mozambique’s GDP.
Unfortunately, neither the citizens nor the government had disaster insurance. This meant that the country had to seek donations and humanitarian aid to rebuild. At the time, Mozambique’s economy was already constrained by poverty and low levels of social development. So the aftermath of the floods was another blow to the economy.
Compare this to the 2010 earthquake that devastated Christchurch in New Zealand. There, over 81% of the losses were covered by disaster insurance. This ensured a quick recovery, and reduced the economic burden on both the government and the people.
More...
https://www.cnbcafrica.com/news/special ... -216274365
The fight against Islamic State is moving to Africa
Violent Islamist groups are gaining strength in the Sahel. A report from Nigeria and Niger
Excerpt:
Nigeria’s main north-eastern city is at the centre of a series of jihadist campaigns stretching in two broad belts across Africa on either side of the Sahara. The northern one hugs the Mediterranean, from Egypt through Libya and Tunisia to Algeria. The southern one extends from Somalia and Kenya in the east through Nigeria and Niger and on to Mali, Burkina Faso and Senegal in the west (see map). Such vast distances separate the different battlefields, that Dakar, in Senegal, is almost as close to Miami as it is to Mogadishu in Somalia.
MORE...
https://www.economist.com/middle-east-a ... m=20180717
Violent Islamist groups are gaining strength in the Sahel. A report from Nigeria and Niger
Excerpt:
Nigeria’s main north-eastern city is at the centre of a series of jihadist campaigns stretching in two broad belts across Africa on either side of the Sahara. The northern one hugs the Mediterranean, from Egypt through Libya and Tunisia to Algeria. The southern one extends from Somalia and Kenya in the east through Nigeria and Niger and on to Mali, Burkina Faso and Senegal in the west (see map). Such vast distances separate the different battlefields, that Dakar, in Senegal, is almost as close to Miami as it is to Mogadishu in Somalia.
MORE...
https://www.economist.com/middle-east-a ... m=20180717
Here’s how Africa’s science students can build the equipment they need to learn
Excerpt:
This is why my colleagues Helena Webb, Jason Nurse, Marina Jirotka and I designed LabHack. It’s an event that aims to inspire budding innovators to take matters into their own hands and build the equipment they need to learn. Undergraduate student teams compete to design low-cost versions of basic laboratory equipment using hardware available in a local African context. Our first LabHack was held at the Harare Institute of Technology in Zimbabwe in June 2018. The resulting prototypes were highly inventive and far cheaper than anything that’s commercially available.
More....
https://www.cnbcafrica.com/news/special ... -to-learn/
Excerpt:
This is why my colleagues Helena Webb, Jason Nurse, Marina Jirotka and I designed LabHack. It’s an event that aims to inspire budding innovators to take matters into their own hands and build the equipment they need to learn. Undergraduate student teams compete to design low-cost versions of basic laboratory equipment using hardware available in a local African context. Our first LabHack was held at the Harare Institute of Technology in Zimbabwe in June 2018. The resulting prototypes were highly inventive and far cheaper than anything that’s commercially available.
More....
https://www.cnbcafrica.com/news/special ... -to-learn/
Why money alone can’t help beat poverty in Africa, here’s what is needed
Nigeria recently surpassed India to become the country with the highest number of people living in extreme poverty: 87 million. Nigeria is oil rich and boasts Africa’s fastest growing economy. Yet six of its people fall into extreme poverty every minute.
This story isn’t unique to Nigeria. It’s echoed in other resource-rich countries like the Democratic Republic of Congo and Angola where an exploitative elite and multinational companies keep wealth from reaching the majority of citizens. By 2030, it’s estimated that 82% of the world’s poorest people will live in Africa.
This is the continent’s paradox: vast natural resources and mineral reserves alongside extreme poverty.
More...
https://www.cnbcafrica.com/debates/2018 ... is-needed/
Nigeria recently surpassed India to become the country with the highest number of people living in extreme poverty: 87 million. Nigeria is oil rich and boasts Africa’s fastest growing economy. Yet six of its people fall into extreme poverty every minute.
This story isn’t unique to Nigeria. It’s echoed in other resource-rich countries like the Democratic Republic of Congo and Angola where an exploitative elite and multinational companies keep wealth from reaching the majority of citizens. By 2030, it’s estimated that 82% of the world’s poorest people will live in Africa.
This is the continent’s paradox: vast natural resources and mineral reserves alongside extreme poverty.
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https://www.cnbcafrica.com/debates/2018 ... is-needed/
Can Africa really be able to feed itself?
The stakes are high. Africa's population is expected to hold an estimated 2.5 billion of the world’s nearly 10 billion people by 2050. The continent currently holds the highest prevalence of the world’s undernourished people and has among the lowest agricultural yields in the world. Joining CNBC Africa ahead of the AGRF 2018 to discuss this is Rwandan Minister of Agriculture Geraldine Mukeshimana, and former Rwandan Minister of Agriculture and Current President of Alliance for a Green Revolution in Africa Agnes Kalibata.https://www.cnbcafrica.com/videos/...
Video:
https://www.cnbcafrica.com/videos/2018/ ... ed-itself/
The stakes are high. Africa's population is expected to hold an estimated 2.5 billion of the world’s nearly 10 billion people by 2050. The continent currently holds the highest prevalence of the world’s undernourished people and has among the lowest agricultural yields in the world. Joining CNBC Africa ahead of the AGRF 2018 to discuss this is Rwandan Minister of Agriculture Geraldine Mukeshimana, and former Rwandan Minister of Agriculture and Current President of Alliance for a Green Revolution in Africa Agnes Kalibata.https://www.cnbcafrica.com/videos/...
Video:
https://www.cnbcafrica.com/videos/2018/ ... ed-itself/
Different approach to agriculture needed: Here’s why small-scale farming should be boosted in Africa
Industrial agriculture – farming that involves the intensive production of livestock, poultry, fish and crops – is one of the most environmentally destructive forms of land use. It depends on mechanisation and on inputs like synthetic fertiliser and harmful pesticides and herbicides and has led to widespread contamination of soil and water. It also relies on just a few major crops like wheat, maize, soybean and rice, the seeds of which are owned by a mere handful of companies.
A different approach to agriculture is sorely needed. This should, ideally, deliver household food security, ensure sustainable livelihoods and produce quality nutrition in a rapidly changing climate.
Developing countries that are industrialising at a pace are uniquely placed to avoid developing a dependency on one type of technological innovation at the expense of others. This is what is known as technological lock-in, with industrial agriculture being one form of lock-in. Such countries are also well placed to establish alternative ways to grow food that maximise livelihoods and sustainable food production.
More....
https://www.cnbcafrica.com/news/special ... in-africa/
Industrial agriculture – farming that involves the intensive production of livestock, poultry, fish and crops – is one of the most environmentally destructive forms of land use. It depends on mechanisation and on inputs like synthetic fertiliser and harmful pesticides and herbicides and has led to widespread contamination of soil and water. It also relies on just a few major crops like wheat, maize, soybean and rice, the seeds of which are owned by a mere handful of companies.
A different approach to agriculture is sorely needed. This should, ideally, deliver household food security, ensure sustainable livelihoods and produce quality nutrition in a rapidly changing climate.
Developing countries that are industrialising at a pace are uniquely placed to avoid developing a dependency on one type of technological innovation at the expense of others. This is what is known as technological lock-in, with industrial agriculture being one form of lock-in. Such countries are also well placed to establish alternative ways to grow food that maximise livelihoods and sustainable food production.
More....
https://www.cnbcafrica.com/news/special ... in-africa/
African governments urged to lead agricultural transformation
Despite the fact that agriculture is a key sector in economies in Africa- well over 70 per cent of the continent’s population relies on agriculture for survival, the sector still remains one of the less funded sectors of economies in Africa. In the following exclusive interview with CNBC Africa, Josefa Sacko, the AU commissioner for Rural Economy and Agriculture shares what she thinks needs to be done for the agricultural sector to be accord the respect it deserves
Video:
https://www.cnbcafrica.com/videos/2018/ ... formation/
Despite the fact that agriculture is a key sector in economies in Africa- well over 70 per cent of the continent’s population relies on agriculture for survival, the sector still remains one of the less funded sectors of economies in Africa. In the following exclusive interview with CNBC Africa, Josefa Sacko, the AU commissioner for Rural Economy and Agriculture shares what she thinks needs to be done for the agricultural sector to be accord the respect it deserves
Video:
https://www.cnbcafrica.com/videos/2018/ ... formation/
Tackling undernourishment in Africa
The number of people undernourished in Africa rose from 200 million to 224 million, accounting for 25 per cent of the 815 million people undernourished in the world in 2016, according to statistics. Rajiv Shah, President of the Rockefeller Foundation joins CNBC Africa to flesh out ways to tackle undernourishment in Africa.
Video:
https://www.cnbcafrica.com/videos/2018/ ... in-africa/
The number of people undernourished in Africa rose from 200 million to 224 million, accounting for 25 per cent of the 815 million people undernourished in the world in 2016, according to statistics. Rajiv Shah, President of the Rockefeller Foundation joins CNBC Africa to flesh out ways to tackle undernourishment in Africa.
Video:
https://www.cnbcafrica.com/videos/2018/ ... in-africa/
OpEd: What is needed to get world to see Africa’s potential in order to attract investment in innovation
Innovation is a critical part Africa’s DNA, but it only plays a part in shaping the continent’s narrative when the world becomes aware of it. This is where tactical communication is paramount in disseminating information about the continent’s progress, so that the right people join the journey in supporting and investing in innovation.
The underlying concept of communicating to the right audience requires an understanding of Africa’s dynamics coupled with a strategic approach that encompasses not only smart ideas and effective planning, but also a combination of traditional and digital media expertise. As the communication landscape evolves rapidly, strategic communication means keeping a watchful eye on the way your audience consumes information and the channels they utilize.
More...
https://www.cnbcafrica.com/zdnl-mc/2018 ... unication/
Innovation is a critical part Africa’s DNA, but it only plays a part in shaping the continent’s narrative when the world becomes aware of it. This is where tactical communication is paramount in disseminating information about the continent’s progress, so that the right people join the journey in supporting and investing in innovation.
The underlying concept of communicating to the right audience requires an understanding of Africa’s dynamics coupled with a strategic approach that encompasses not only smart ideas and effective planning, but also a combination of traditional and digital media expertise. As the communication landscape evolves rapidly, strategic communication means keeping a watchful eye on the way your audience consumes information and the channels they utilize.
More...
https://www.cnbcafrica.com/zdnl-mc/2018 ... unication/
Africa’s high birth rate is keeping the continent poor
Why the birth rate has been slow to fall
Excerpt:
High fertility can also be seen as a global problem, says Bill Gates, whose foundation (jointly run with his wife, Melinda) will hold a conference next week about the state of the world. Overall, humanity is becoming wealthier. But because birth rates are so high in the poorest parts of the world’s poorest countries, poverty and sickness are that much harder to eradicate. “Kids are being born exactly in the places” where it is hardest to get schooling, health and other services to them, he explains.
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https://www.economist.com/middle-east-a ... m=20180925
Why the birth rate has been slow to fall
Excerpt:
High fertility can also be seen as a global problem, says Bill Gates, whose foundation (jointly run with his wife, Melinda) will hold a conference next week about the state of the world. Overall, humanity is becoming wealthier. But because birth rates are so high in the poorest parts of the world’s poorest countries, poverty and sickness are that much harder to eradicate. “Kids are being born exactly in the places” where it is hardest to get schooling, health and other services to them, he explains.
More...
https://www.economist.com/middle-east-a ... m=20180925
OpEd: How a focus on youth and women entrepreneurship can benefit agribusiness, livelihoods and create jobs
As the impacts of climate change and conflicts threaten progress towards addressing global hunger, we need to apply new thinking in agriculture. Agricultural innovation can strengthen the resilience of agri-food systems and offer adaptation strategies to mitigate the impacts of climate change.
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https://www.cnbcafrica.com/zdnl-mc/2018 ... eate-jobs/
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OpEd: Investing in youth needs to be a priority for Africa
Africa has been blessed, not only with natural resources but also an abundance of youth, yet we fail to adequately invest in them. At least 60% of Africa’s young people are under the age of 30 but unemployment continues to rear its ugly head leaving frustrated youth so desperate that they are migrating in droves for better opportunities abroad despite the dangers of slavery and drowning in the Mediterranean sea.
More...
https://www.cnbcafrica.com/news/special ... -priority/
As the impacts of climate change and conflicts threaten progress towards addressing global hunger, we need to apply new thinking in agriculture. Agricultural innovation can strengthen the resilience of agri-food systems and offer adaptation strategies to mitigate the impacts of climate change.
More...
https://www.cnbcafrica.com/zdnl-mc/2018 ... eate-jobs/
******
OpEd: Investing in youth needs to be a priority for Africa
Africa has been blessed, not only with natural resources but also an abundance of youth, yet we fail to adequately invest in them. At least 60% of Africa’s young people are under the age of 30 but unemployment continues to rear its ugly head leaving frustrated youth so desperate that they are migrating in droves for better opportunities abroad despite the dangers of slavery and drowning in the Mediterranean sea.
More...
https://www.cnbcafrica.com/news/special ... -priority/
OpEd: Finding the right approach to the big opportunities in manufacturing
Getting the manufacturing sector growing again on the African continent should be a priority.
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https://www.cnbcafrica.com/news/special ... facturing/
Getting the manufacturing sector growing again on the African continent should be a priority.
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https://www.cnbcafrica.com/news/special ... facturing/
Why we need African leadership to end the threat of nuclear weapons
Beatrice Fihn , Executive Director of ICAN, and the winner of the 2017 Nobel Peace Prize discusses why Africa is key to ending the threat of the nuclear weapons.
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https://www.cnbcafrica.com/zdnl-mc/2018 ... r-weapons/
Beatrice Fihn , Executive Director of ICAN, and the winner of the 2017 Nobel Peace Prize discusses why Africa is key to ending the threat of the nuclear weapons.
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https://www.cnbcafrica.com/zdnl-mc/2018 ... r-weapons/
Can the humanities prepare African students for the fourth industrial revolution?
Universities will need to ensure that students are equipped for the fourth Industrial Revolution.
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https://www.cnbcafrica.com/news/special ... evolution/
Universities will need to ensure that students are equipped for the fourth Industrial Revolution.
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https://www.cnbcafrica.com/news/special ... evolution/
Why banking in a cashless society will require African solutions for African problems
The future of banking in Africa will be about solving genuine customer problems by harnessing innovation.
African economies are well positioned to benefit from rapidly accelerating technological change if they can harness the current open landscape for innovation.
East Africa is already a global leader in mobile payments, while mobile money accounts in sub-Saharan Africa are on an upward charge. Apart from being able to leapfrog the limitations and costs of physical infrastructure, the continent stands to benefit from having the youngest, tech-savvy workforce in the world in the next decade.
More...
https://www.cnbcafrica.com/sponsored/20 ... -problems/
The future of banking in Africa will be about solving genuine customer problems by harnessing innovation.
African economies are well positioned to benefit from rapidly accelerating technological change if they can harness the current open landscape for innovation.
East Africa is already a global leader in mobile payments, while mobile money accounts in sub-Saharan Africa are on an upward charge. Apart from being able to leapfrog the limitations and costs of physical infrastructure, the continent stands to benefit from having the youngest, tech-savvy workforce in the world in the next decade.
More...
https://www.cnbcafrica.com/sponsored/20 ... -problems/
Fear of a Black Continent
Why European elites are worrying about African babies.
Emmanuel Macron, the youthful and ambitious president of the French, likes to talk about African birthrates. In the summer of 2017, he answered a question about why there couldn’t be a Marshall Plan for Africa by calling the continent’s problems “civilizational,” and lamenting that African countries “have seven or eight children per woman.”
This was attacked by some as racist, defended by others as hardheaded realism about development economics. Macron obviously felt comfortable with what he’d said, because he returned to the idea last month at a Gates Foundation conference. (Bill Gates himself has also been talking a lot lately about population control and development in Africa.) “I always say,” Macron told the assembled do-gooders, “‘present me the woman who decided, being perfectly educated, to have seven, eight or nine children.’”
More...
https://www.nytimes.com/2018/10/20/opin ... 3053091022
Why European elites are worrying about African babies.
Emmanuel Macron, the youthful and ambitious president of the French, likes to talk about African birthrates. In the summer of 2017, he answered a question about why there couldn’t be a Marshall Plan for Africa by calling the continent’s problems “civilizational,” and lamenting that African countries “have seven or eight children per woman.”
This was attacked by some as racist, defended by others as hardheaded realism about development economics. Macron obviously felt comfortable with what he’d said, because he returned to the idea last month at a Gates Foundation conference. (Bill Gates himself has also been talking a lot lately about population control and development in Africa.) “I always say,” Macron told the assembled do-gooders, “‘present me the woman who decided, being perfectly educated, to have seven, eight or nine children.’”
More...
https://www.nytimes.com/2018/10/20/opin ... 3053091022
In Africa, ‘Paper Parks’ Are Starved for Cash
In a unique analysis, researchers put a price on protecting Africa’s wildlife: at least $1.2 billion each year.
As if illegal mining, logging and poaching weren’t bad enough, Africa’s national parks face another dire threat: They’re vastly underfunded.
According the most comprehensive analysis of conservation funding to date, 90 percent of nearly 300 protected areas on the continent face funding shortfalls. Together, the deficits total at least a billion dollars.
Failing to address this deficit will result in severe and ongoing declines of such iconic species as lions, researchers warned on Monday in the Proceedings of the National Academy of Sciences. Some parks will likely disappear altogether.
More...
https://www.nytimes.com/2018/10/22/scie ... 3053091023
In a unique analysis, researchers put a price on protecting Africa’s wildlife: at least $1.2 billion each year.
As if illegal mining, logging and poaching weren’t bad enough, Africa’s national parks face another dire threat: They’re vastly underfunded.
According the most comprehensive analysis of conservation funding to date, 90 percent of nearly 300 protected areas on the continent face funding shortfalls. Together, the deficits total at least a billion dollars.
Failing to address this deficit will result in severe and ongoing declines of such iconic species as lions, researchers warned on Monday in the Proceedings of the National Academy of Sciences. Some parks will likely disappear altogether.
More...
https://www.nytimes.com/2018/10/22/scie ... 3053091023
As Rich Nations Close the Door on Refugees, Uganda Welcomes Them
ARUA, Uganda — President Trump is vowing to send the military to stop migrants trudging from Central America. Europe’s leaders are paying African nations to block migrants from crossing the Mediterranean — and detaining the ones who make it in filthy, overcrowded camps.
But Solomon Osakan has a very different approach in this era of rising xenophobia. From his uncluttered desk in northwest Uganda, he manages one of the largest concentrations of refugees anywhere in the world: more than 400,000 people scattered across his rural district.
He explained what he does with them: Refugees are allotted some land — enough to build a little house, do a little farming and “be self-sufficient,” said Mr. Osakan, a Ugandan civil servant. Here, he added, the refugees live in settlements, not camps — with no barbed wire, and no guards in sight.
More...
https://www.nytimes.com/2018/10/28/worl ... 3053091029
ARUA, Uganda — President Trump is vowing to send the military to stop migrants trudging from Central America. Europe’s leaders are paying African nations to block migrants from crossing the Mediterranean — and detaining the ones who make it in filthy, overcrowded camps.
But Solomon Osakan has a very different approach in this era of rising xenophobia. From his uncluttered desk in northwest Uganda, he manages one of the largest concentrations of refugees anywhere in the world: more than 400,000 people scattered across his rural district.
He explained what he does with them: Refugees are allotted some land — enough to build a little house, do a little farming and “be self-sufficient,” said Mr. Osakan, a Ugandan civil servant. Here, he added, the refugees live in settlements, not camps — with no barbed wire, and no guards in sight.
More...
https://www.nytimes.com/2018/10/28/worl ... 3053091029
One African Nation Put the Brakes on Chinese Debt. But Not for Long.
Excerpt:
Yet only a few days after his announcement about scrapping the deal, Mr. Bio appeared on state-owned Chinese television to make clear that he was not backing away from China after all. In fact, he was seeking its help to build a more than $1 billion bridge, and was also open to renegotiating the airport loan.
“We are a developing nation,” Mr. Bio told the interviewer, “and we look forward to nations that want to help us develop.”
Across sub-Saharan Africa, governments like Sierra Leone’s are opting to overlook glaring examples of developing countries teetering toward economic distress after borrowing heavily from China.
Forty percent of countries in the region are close to falling into debt crisis, the International Monetary Fund has cautioned. And many of those are still seeking loans from Beijing for help to finance airports, highways, railways, dams and power projects.
The warning signs of taking on too much debt from China appear across the globe, as in Sri Lanka, where after struggling to make their payments, officials recently turned over to China a port and 15,000 acres of land for 99 years.
More...
https://www.nytimes.com/2018/11/23/worl ... 3053091124
Excerpt:
Yet only a few days after his announcement about scrapping the deal, Mr. Bio appeared on state-owned Chinese television to make clear that he was not backing away from China after all. In fact, he was seeking its help to build a more than $1 billion bridge, and was also open to renegotiating the airport loan.
“We are a developing nation,” Mr. Bio told the interviewer, “and we look forward to nations that want to help us develop.”
Across sub-Saharan Africa, governments like Sierra Leone’s are opting to overlook glaring examples of developing countries teetering toward economic distress after borrowing heavily from China.
Forty percent of countries in the region are close to falling into debt crisis, the International Monetary Fund has cautioned. And many of those are still seeking loans from Beijing for help to finance airports, highways, railways, dams and power projects.
The warning signs of taking on too much debt from China appear across the globe, as in Sri Lanka, where after struggling to make their payments, officials recently turned over to China a port and 15,000 acres of land for 99 years.
More...
https://www.nytimes.com/2018/11/23/worl ... 3053091124