African Reserves

Africa could help fill EU gas supply gap

Brent crude briefly fell below $100 a barrel on Monday, a week after hitting a 14-year high of $130 on March 6, easing fears of an energy-fueled recession and chronically high oil prices. gasoline. This is the first major correction in energy markets after a period of heightened volatility. Last week, Moscow followed through on […]

African Reserves Loans

Why some African nations continue to support Russia

The number of African countries that abstained in the United Nations General Assembly vote condemning the Russian invasion of Ukraine surprised some. But it follows a certain logic based on recent and historical precedents, says analyst Aanu Adeoye. “Africans see this Russian-Ukrainian invasion as Russia on the one hand against Ukraine and some Western allies,” […]

African Reserves

Some leaders in the developing world want to get out of the clean energy transition

Nigeria’s Chairman of the Oil and Gas Free Zones Authority, Timipre Sylva, attends the ‘Saudi Green Initiative’ forum, in the capital Riyadh on October 23, 2021. Sylva said this week that his country should be left out of the transition world towards clean energy. Credit: Fayez Nureldine/AFP via Getty Images Energy leaders from some developing […]

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Africa ‘not ready’ for climate stress, scientists say

Food production growth is slowing faster than in any other region of the world as droughts, floods, heat and pests from climate change take their toll Africa ‘not on track’ to deal with climate change impacts Lack of finance for adaptation and clean energy is a problem Food security threats particularly high, warn scientists By […]

African Reserves

For Bangladesh to realize its potential as a nation, it must look beyond its borders

In The anarchy by William Dalrymple, we discover the official trading company created by Tipu Sultan to trade with the ports of the Arabian Sea and the Persian Gulf. The wealth of this company enriched the sultanate of Mysore and enabled Tipu Sultan to provide his army with the latest French artillery. The company built […]

African Reserves

Government did the right thing by defying Fitch and Moody’s downgrade – Economist

Economist and political risk analyst Dr Theo Acheampong said the government’s decision to challenge the downgrades of Fitch and Moody’s is a step in the right direction. This is because, according to him, there is “a kind of African or African bias in the way the ratings are done”. Speaking on Monday, February 7, 2022, […]

African Reserves

Etihad will resume service from Johannesburg from March 3

Dubai: Abu Dhabi-based Etihad Airways will resume services to/from Johannesburg, South Africa from March 3, the airline has announced. Passengers arriving from Johannesburg will be required to present a negative PCR test result obtained within 48 hours of departure and a negative rapid PCR test obtained within six hours of departure from the airport. They […]

African Reserves

Corrected version: the vaccine famine and its impact on African economies

By Ahunna Eziakonwa We are about to start a third year of life with COVID-19. Humanity and world solidarity are now at a new test – and yet the implications of the lack of solidarity keep us all in the boat of mutations, lockdowns, quarantines and delayed SDGs – prosperity for all is denied . […]

African Reserves Loans

Sri Lanka closes three foreign missions as economic crisis deepens

Sri Lanka has temporarily closed three diplomatic missions abroad from December 31 in an attempt to save foreign exchange reserves and cut spending, as the country faces crippling debt. The Sri Lankan High Commission in Abuja, Nigeria, the Sri Lankan Consulate General in Frankfurt, Germany, and the Sri Lankan Consulate General in Nicosia, Cyprus, will […]

African Reserves Loans

Who benefits from the $ 157 million loan approved by the World Bank in June 2021 for Liberia?

December 9, 2021 J Yanqui Zaza of The Perperstive Challenges David Malpass of the World Bank Honorable David MalpassPresident of the World Bank1818 H Street, NOWashington, DC 20433 Re: Who benefits from the $ 157 million loan approved by the World Bank in June 2021 for Liberia? Dear President David Malpass: The public would like […]

African Reserves

Nigeria drops to 14 as Egypt tops Africa for investment destinations

Posted December 5, 2021 Nigeria has gone from the top 10 investment destinations in Africa to 14 while Egypt remains the number one nation. This is indicated by an RMB report titled “Where to invest in Africa 2021”. According to RMB, a division of FirstRand Bank Limited, the ranking is based on countries’ operating environments. […]

African Reserves

Digitize Africa’s mines

Mineral resources are an essential source of income for Africa. In 2019, minerals and fossil fuels accounted for more than a third of the exports of at least 60% of African countries. The continent produces around 80% of the world’s platinum, two-thirds of its cobalt, half of its manganese and a substantial amount of chromium, […]

African Reserves Loans

Africa’s ties to China and the West are starting to look similar

WHEN PRESIDENT XI JINPING from China meets African leaders, grandiose demands abound. As such at least, the triennial diplomatic jamboree known as the Forum on Sino-African Cooperation (FOCAC), which was held recently in Senegal, did not disappoint. China and Africa have “forged an indestructible brotherhood,” said Xi, who spoke from China via video. Xi painted […]

African Reserves

China promises one billion doses of COVID-19 vaccine to Africa

China has pledged to donate a billion coronavirus vaccines, advance billions of dollars for African trade and infrastructure, and cancel interest-free loans to African countries to help the continent recover from the coronavirus pandemic. Speaking via a video link from Beijing at the Forum on China-Africa Cooperation (FOCAC), Chinese President Xi Jinping said China will […]

African Reserves

United States to restrict travel from 8 African countries on Monday, citing variant

The United States is expected to restrict travel from eight countries on Monday due to a new variant of the coronavirus. The countries are South Africa, Zimbabwe, Botswana, Lesotho, Mozambique, Eswatini, Malawi and Namibia, NBC News reported. The World Health Organization on Friday called Omicron a “worrying variant” of the coronavirus. Loading Something is loading. […]

African Reserves

Fight against tax evasion in the mining sector of sub-Saharan Africa – Analysis – Eurasia Review

Sub-Saharan Africa is estimated to have 30 percent of the world’s mineral reserves, representing a major opportunity for the region. Despite the high level of private investment in this critical sector, new analysis reveals that many multinational companies are avoiding paying their taxes. To get an idea of ​​the scale of investments that companies are […]

Animal Conservation

Elephant kills South African man in Zimbabwe’s Mana Pools – Boston News, Weather, Sports

HARARE, Zimbabwe (AP) – A 71-year-old South African tourist was trampled to death by an elephant “in sight” of his son in Zimbabwe’s Mana Pools National Park, the parks agency said Thursday. country, days after another fatal elephant encounter occurred in a separate park. A “helpless” elephant this week indicted the tourist and her 41-year-old […]

African Reserves

$ 290 billion funding gap slows Africa’s recovery ⋆ 4State News MO AR KS OK

Sub-Saharan Africa needs significant additional funds to counter the damage caused by the coronavirus pandemic, strengthen its prospects for economic recovery and mitigate threats posed by climate change, according to the World Bank. The regional economy is expected to grow 3.3% in 2021, after contracting by around 2% last year, the Washington-based lender said last […]

African Reserves Loans

Address the collection premium for sustainable development in Africa

The pandemic slowdown has exacerbated one of the most serious challenges Africa faces on its development path – the high costs of collection premiums – the overvalued risks eternally attributed to Africa, regardless of the improvement in its macroeconomic fundamentals, the global economic environment and the growth prospects of each country. . The global nature […]

African Reserves Loans

The Treasury is not transparent with the IMF’s special drawing rights

By guest writer On August 23, the International Monetary Fund (IMF) injected liquidity into all of its member countries worth $ 650 billion in Special Drawing Rights (SDRs). Uganda received the equivalent of Shs 1,200 billion from this injection. This money was allocated according to the participation of member countries in the IMF. Uganda’s participation […]

African Reserves Loans

Africa fights competing interests in its quest for funding

By BERNA NAMATA Africa’s economic officials see a bleak future as they attempt to raise funds to purchase vaccines and increase government spending needed to reduce poverty and ease economic shocks caused by the coronavirus pandemic. This week, African finance ministers pleaded with international lenders, including the International Monetary Fund, to do more to mobilize […]

African Reserves Loans

Sri Lanka awaits stimulus package amid currency crisis – Opinion

Sri Lanka’s economy is reeling from a foreign currency crisis during pandemic economic turmoil. A long-standing dependence on imports has finally caught up to drain foreign exchange reserves, already strained by large debt repayments in the absence of US $ 5 billion in tourism and influx of sovereign bonds. Despite the apocalyptic predictions of some […]

Animal Conservation

Couple donates $ 100 million to conserve 57,000 square miles of African protected areas

A South African-based nonprofit conservation group that manages 19 protected areas on the continent has secured a donation of $ 100,000,000. Gorillas in Odzala-Kokoua National Park in Congo will benefit from the donation. © Andrew Beck and African Parks Rob and Melani Walton Foundation grant pledged to African Parks, which manages parks in eleven African […]

African Reserves

The Hidden Inflation Risks of the Developing World

A combination of specific inflationary shocks and vulnerabilities could seriously threaten the stability and prosperity of developing economies. Although part of the political response to these risks lies in the hands of the poorest countries themselves, the international community can and must help. Rabah Arezki & Jean-Pierre Landau; Project union September 25, 2021, 12:10 p.m. […]

African Reserves

India’s rice exports run out of steam in current quarter

India’s exports of non-basmati rice have slowed in the current quarter, particularly to the Far East and Southeast Asia, as the region sees new arrivals of paddy. In addition, payment issues with Vietnamese buyers, high freight charges, and current market volatility are impacting shipments. On the other hand, shipments to Africa, especially parboiled rice, are […]

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The world cannot afford to leave Africa behind in post-COVID recovery

By Alassane Dramane Ouattara President of Côte d’Ivoire. The COVID-19 pandemic has resulted in an unprecedented global health, social and economic crisis. In 2020, sub-Saharan Africa experienced the worst underperformance on record, with a growth rate of -1.9%, coupled with an increase of 32 million people living in extreme poverty. Health systems, education and other […]

African Reserves Loans

The world cannot afford to leave Africa behind after COVID

The world needs collective action to meet Africa’s financing needs and to support an inclusive and sustainable recovery of African economies from the COVID-19 pandemic. The world community has the opportunity to bring about the 20th replenishment of a 60-year-old World Bank program known as the International Development Association. The goal is an IDA20 replenishment […]

Animal Conservation

Conserving wildlife in Africa … a conservation success impossible without international hunting

Emmanuel Koro Why should rural African communities coexisting with wildlife and receiving no benefit from it care about the conservation of wildlife that damages their crops, kills their livestock, their loved ones and destroys their property? This is the key wildlife conservation question that all African states had to answer when they took over from […]

African Reserves

A Story of Worms and Reptiles, By Majeed Dahiru

Bandits. Photo credit: Voice of America (VOA) Those who brought worm infested wood into the Nigerian home inadvertently invited reptiles, snakes and scorpions for breakfast, lunch and dinner. From Zamfara, Katsina to the states of Kaduna, Kebbi, Sokoto and Niger, terrorist shepherds now beatified as Fulani bandits have transformed the northwest corner of Nigeria into […]

African Reserves

Virus variants threaten global recovery, G20 warns

Variants, vaccine shortages increase risks-G20 Global tax deal on track for October signing But obstacles from the US and EU could complicate matters Call for financial stability VENICE, Italy, July 10 (Reuters) – An upsurge in new coronavirus variants and limited access to vaccines in developing countries threaten the global economic recovery, finance ministers from […]

African Reserves Loans

CDMT 2022-2024: As FG seeks a “new” loan of 15 trillion naira | The Guardian Nigeria News

The government regularly talks about tax reforms that would allow it to increase infrastructure spending and channel more resources into non-oil sector growth, but translating intention into action seems overkill as the medium-term spending framework and the 2022-2024 Paper budget strategy (MTEF / FSP nevertheless reflects old habits. In March, the country’s documented debt stock […]

African Reserves Loans

Assessing globalization trends in the age of Covid

The coronavirus largely represents an acceleration of existing globalization trends, rather than a complete paradigm shift. Globalization has fluctuated over the years, but event panelists agreed that the 2007-08 global financial crash marked a turning point and triggered a “slowdown” trend. Falling incomes, rising unemployment and inequality have been fertile ground for the rise of […]

African Reserves Loans

Outlook on Africa Finance Corporation’s rating upgraded to stable by Moody & rsquo s

(MENAFN – AETOWire) NEW YORK-Friday June 4, 2021 () – Africa Finance Corporation, the leading provider of infrastructure solutions in Africa, received an increase in its credit rating outlook from Moody’s Investors Service, which assigned a “stable” outlook. The decision ratifies the second investment grade ranking among African institutions for AFC, with Moody’s upholding the […]

African Reserves Loans

Outlook on Africa Finance Corporation’s rating upgraded to stable by Moody’s

NEW YORK,–(COMMERCIAL THREAD) – Africa Finance Corporation, the leading provider of infrastructure solutions in Africa, received an increase in its credit rating outlook from Moody’s Investors Service, which assigned a “stable” outlook. The decision ratifies the second investment grade ranking among African institutions for AFC, with Moody’s upholding the company’s long-term and senior unsecured issuer […]

African Reserves Loans

Should Switzerland cooperate with China on development aid?

The Addis Ababa Urban Railway in Ethiopia was built by the China Railway Engineering Corporation and financed with loans from the Chinese state bank China Exim-Bank. Keystone / Daniel Getachew China has contacted Switzerland to cooperate on development aid projects. Switzerland has so far been open to such collaborations. NGOs warn of China’s political motivations […]

African Reserves Loans

Unions must make sure their electric vehicle plans are in line with climate justice – LabourList

Rachel Reeves made a strong commitment to boosting the UK auto industry while cutting carbon emissions during her first speech as Phantom Chancellor earlier this month. She called on the UK to become “world leaders” in the production of electric vehicles and committed the Labor Party to plans for three gigafactories of electric vehicle batteries […]

African Reserves Loans

Coronavirus: Africa needs $ 285 billion to fight the impact of the pandemic

The International Monetary Fund COVID-19 threatens decades of progress by African countries to become advanced economies, and global finance leaders have been warned that the continent needs huge investments in the years to come. The Managing Director of the International Monetary Fund, Kristalina Georgieva, told a summit in Paris that an additional US $ 285 […]

African Reserves

The 88 billion naira treasury bill auction was oversubscribed yesterday

Lagos-based pan-African multilateral development finance institution African Finance Corporation (AFC) successfully issued a Eurobond at its lowest yield to date. This is an indication of the strong interest of global investors in the African continent and the development finance institution which is dedicated to infrastructure finance and investment in key sectors of the continent. This […]

African Reserves Loans

Nairametrics Economic Indicators and Market Summary

Lagos-based pan-African multilateral development finance institution African Finance Corporation (AFC) successfully issued a Eurobond at its lowest yield to date. This is an indication of the strong interest of global investors in the African continent and the development finance institution which is dedicated to infrastructure finance and investment in key sectors of the continent. This […]

African Reserves Loans

African Finance Corp. issues $ 750 million 7-year Eurobond at lowest yield

Lagos-based pan-African multilateral development finance institution African Finance Corporation (AFC) successfully issued a Eurobond at its lowest yield to date. This is an indication of the strong interest of global investors in the African continent and the development finance institution which is dedicated to infrastructure finance and investment in key sectors of the continent. This […]

African Reserves

A world apart: How rich countries can strengthen the COVID safety net

A woman receives the AstraZeneca / Oxford vaccine as part of the COVAX coronavirus disease (COVID-19) program at Eka Kotebe General Hospital in Addis Ababa, Ethiopia on March 13, 2021. Photo via Tiksa Negeri / REUTERS . By allowing the International Monetary Fund (IMF) to provide substantial amounts of foreign exchange reserves to its 190 […]

African Reserves

Biden administration imposes tough new sanctions on Russia in response to cyber attacks and election interference – International law

United States: Biden administration imposes tough new sanctions on Russia in response to cyber attacks and election interference April 21, 2021 Winston & Strawn LLP To print this article, simply register or connect to Mondaq.com. On April 15, 2021, President Biden issued an executive order (found here), “Freezing of Assets in Respect of Specified Harmful […]

African Reserves

Mozambique ignites energy sector with solar and hydropower investments

Image: Green Building Africa With 187 GW, Mozambique has the largest potential power generation capacity in southern Africa. In addition, while hydroelectricity, coal, natural gas and solar each continue to increase their respective share in the country’s energy mix, Mozambique is positioning itself as a major regional producer of electricity. Despite prolific power generation potential, […]

African Reserves

How lithium can fuel an industrial revolution for Africa

Representative image & nbsp | & nbspPhoto credit: & nbspiStock Images The green energy revolution offers Africa a chance to transform its future. The continent is blessed with an abundance of minerals, and one of them is lithium, a critical component in the manufacture of batteries for electric vehicles. Lithium offers African nations the opportunity […]

African Reserves Loans

How China structures loans to become Africa’s ‘preferred’ lender – Quartz Africa

New report led by AidData, a US-based development finance research lab, reveals how Chinese lenders are using contracts to gain an advantage over other developing country creditors, limiting borrowers’ options for crisis management and complicating debt renegotiation. Researchers reviewed 100 contracts issued between 2000 and 2020 between Chinese lenders and 24 developing countries, including 11 […]