Source: United Nations Economic Commission for Africa (ECA) |

Extreme poverty and inequality among Africa’s top challenges, ECA’s Ruzvidzo says

More than 50% of urban residents in Africa live informally, increasing by 4.5 million annually and an estimated 210 million live under conditions of poverty in urban slums, excluding North Africa

Eradicating extreme poverty and reducing inequality remain some of Africa’s biggest challenges which the Economic Commission for Africa (ECA) is trying to help member States tackle through various policy recommendations and actions. This was said Thursday by Ms. Thokozile Ruzvidzo, Director of the Gender, Poverty and Social Policy Division at…

Source: Africa Oil Week |

Stability is key for supermajor investment in Africa

In order to tap Africa's immense reserves, commercial terms must be in place to draw those investments

Although it may appear that much of the exploration activity in Africa is driven by smaller independents, the supermajors still have a significant role to play. In recognition of the importance of the market these supermajors were all well represented by senior executives at this year’s Africa Oil Week (Africa-OilWeek.com).…

Source: United Nations Economic Commission for Africa (ECA) |

Experts Review New United Nations Economic Commission for Africa (ECA) Report on Role of Cities in Domestic Resource Mobilization

The report argues that African cities are yet to tap into revenue opportunities that rapid urbanization offers and proposes a framework for consideration

Senior government officials and experts are gathered in Addis Ababa for an Economic Commission for Africa Expert Group Meeting to review the ECA’s new report on the State of Urbanization in Africa: The Role of Cities in Domestic Resource Mobilization. The two-day review meeting is being led by the Urbanization…

African Energy Chamber
Source: African Energy Chamber |

Demonizing Oil and Gas companies is not a constructive way forward on energy transition. Africa will push for “the Right to Drill”

African nations must and will take advantage of their hydrocarbon resources for economic development. Environmental sustainability is a part of it, not an impediment

In an article written for the Guardian newspaper this week, Nobel Peace Prize Winner Archbishop Desmond Tutu of South Africa argued for an Apartheid-style boycott on coal, oil and gas companies as a solution to fight climate change and help ensure global environmental sustainability goals. “We must stop climate change.…

African Union of Housing Finance (AUHF)
Source: African Union of Housing Finance (AUHF) |

African Union for Housing Finance (AUHF) Cape Town Declaration provides 5 Point Plan for African Governments to address housing Finance Shortage

The most critical issue facing housing markets worldwide, whether in established or emerging markets, is housing affordability

Following the successful completion of their 35th Annual Conference, the members of the African Union for Housing Finance (AUHF.co.za) together agreed on a Cape Town Declaration on Housing Finance, at their Annual General Meeting on 6 November 2019.  The 35 active AUHF members expressed their commitment to realising housing affordability across the…

United Nations Mission in South Sudan (UNMISS)
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Source: United Nations Mission in South Sudan (UNMISS) |

In Tombura, UNMISS Works With Faith Groups to Foster Peaceful Coexistence

Tombura had been accommodating internally displaced persons from the neighbouring villages since the conflict erupted in South Sudan in 2013

22-year-old Angelica Luka finds herself working long hours making pancakes, daily, yet her labour fetches only 1.5 dollars by the time she retires. It is the only way she gets to feed her three children. “I’m doing this small business to provide salt and soap, and anything I might need…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Lesotho

An International Monetary Fund (IMF) team, led by Mr. Joseph Thornton, IMF Mission Chief for Lesotho, visited Maseru during November 6-13, 2019

Lesotho continues to face challenges in adjusting to lower Southern African Customs Union (SACU) revenue; Restraining current spending and effective expenditure controls will be essential to maintain a sustainable fiscal position; Public investment should be carefully vetted and ensure progress in key development priorities. An International Monetary Fund (IMF) team,…

EY
Source: EY |

Southern Africa’s Top Entrepreneurs Announced in Johannesburg, South Africa

This year’s finalist group and of course, the winners, have built businesses across all sectors offering innovation and exceptional acumen and leadership

Southern Africa’s top three entrepreneurs were named at the 22nd Annual EY (https://www.EY.com) World Entrepreneur Awards gala dinner in Johannesburg on Wednesday 13 November 2019. CEO’s, Founders, and leading entrepreneurs attended the Southern Africa programme of the world’s most prestigious business awards for entrepreneurs: the Global EY Entrepreneur Of The…

PayU
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Source: PayU |

Income and Wealth not the Driver for Prosperity in High-Growth Markets, Finds New Global Study

Three quarters think their government has a responsibility to improve access to financial services

Three quarters of people with a below-average income for their country report feeling prosperous; Six in ten people across high-growth markets say access to financial services has helped improve their prosperity; Three quarters think their government has a responsibility to improve access to financial services. A landmark study into the…

Source: African Development Bank Group (AfDB) |

African Development Bank, Credit Suisse, Industrial and Commercial Bank of China and Ghana Cocoa Board Ink $600 Million Loan Agreement to Boost Cocoa Production

The multi-million dollar agreement is a milestone for the Bank-convened Africa Investment Forum

Agreement is a turning point for scaling up the cocoa value chain – President Nana Addo Dankwa Akufo-Addo of Ghana; Ghana is bankable, cocoa is bankable and of course Africa is bankable - Dr. Akinwumi A. Adesina, President, African Development Bank (https://www.AfDB.org). The African Development Bank, Credit Suisse AG, the Industrial and…