Tuesday, December 6

Business

Until substantial reforms are implemented, and remittance flows channelled towards long-term economic prospects, the diaspora will continue to be a net negative for weak African economies. Africa cannot depend on exporting its brilliant people abroad to bring money home forever. Thus, governments must establish vibrant economies that appreciate the continent’s human capital and enable bright individuals to prosper.

The transformative effects of DeFi on advancing financial inclusion, assisting African trade, and strengthening Africa’s economy match the technology with the global sustainability agenda and the UN Sustainable Development Goals. As a result, the industry is an attractive investment for investors, asset managers, and pension funds seeking to make their portfolios more sustainable while directly addressing social implications.

New Zimbabwe went on to report that the court ruled that in the case of First Merchant Bank failing to reimburse Shah and his company, the Bank of Zambia was held liable and, in the alternative, the Attorney General was ordered to pay if the funds could not be found. The culmination of this dispute is that Shah and his company are in for a particularly large windfall of cash. The reclusive Indian business tycoon is said to have business interests in Zimbabwe, Zambia, and India.

Despite his wins in business Jayesh Shah has never successfully shaken off the controversy that comes from the notable success a person enjoys in any endeavour. Success always breeds as many admirers as it does critics. Tendai Biti, who was Zimbabwe’s finance minister at one time during the Government of National Unity, called Jayesh Shah a “loan shark of Indian descent”.

The opposition leader made this highly disparaging remark after revelations that Jayesh Shah and another equally controversial business, Nicholas van Hoogstraten were providing cash loans to Zimbabweans against their immovable properties on unsustainable and usurious terms when the inevitable eventuality of default occurred by the borrowers, the lenders Jayesh Shah and Nicholas van Hoogstraten would move in and realize the property against which the original loan was secured.

The world largely considers Africa as the next great growth market, a designation that has persisted for years. There are several reasons to be optimistic: the African continent has some of the world’s youngest populations, promises to be a key consuming market over the next three decades, and is becoming more mobile phone-enabled. Because access to smartphones and other devices improves consumer information, networking, job-creating resources, and even financial inclusion, a rising digital ecosystem is especially important as a multiplier of heightened economic growth.

What is good for the goose must also be good for the gander. However, the EU commission has commissioned the Baltic pipe project, somewhat similar to the EACOP. The Baltic Pipe project was inaugurated on September 27, 2022, at an opening ceremony in Goleniów, Poland.