- The Far Property company to list more linked units on BSE
- Building Kenya’s tourism competitiveness in Africa
- Uganda Securities Exchange creates new window for SMEs’ capital mobilisation
- Indian Ocean safety stamp to boost Kenya imports savings
- Nigeria’s capital market positive US dollar returns in September
- South Africa’s manufacturing grew 2.9% in September
- Costs of farm inputs still a headache for Africa
- Beekeeping in Tanzania, adopting modern agriculture technologies
Banks and financial services companies exist to do more than just create value for their shareholders.
This is true of all companies.
Business organizations, regardless of their size and location, have a moral right to make the world a better place for those who host them. This may sound like a grandiose statement, but it is truthful. Banks and businesses may not change the world in their individual capacity. However, they have a responsibility to look after the communities where they operate.
Banks and other forms of business enterprise collectively known as private capital have a ...
African nation's like Rwanda are investing in top-notch ICT systems
Industrialization in Africa is yet a challenge being tackled by most economies
Despite the pandemic hitting global economies several African nations stood strong
Follow the numbers they say, if one wants to understand how Africa can go beyond the typical growth trajectory that does not commensurate with its natural capital and human potential to attain economic freedom. Sustainable development is rather crucial for Africa to attain. On that note, efforts such as Africa Continental Free Trade Area (AfCTA) are a too...
Africa has been rife with a plethora of horrific manifestations emanating from the deleterious shocks of climate change. In a somewhat bizarre twist of fate the continent continues to bear the brunt of numerous climate-induced natural disasters, yet it only contributes a paltry 4% of global total greenhouse gas (GHG) emissions which is the lowest by any region. From the plague of desert locusts that continue to ambush the Horn of Africa, tropical storms, floods across Eastern and Central Africa, severe droughts and heat waves to massive cyclones whose devastating effects are still felt across...
The UN Food Systems Summit has announced a competition to identify the best small and medium-sized enterprises (SMEs) from across the world who are transforming food systems for a better tomorrow.
The Summit has launched a unique contest, named “Best Small Business: Good Food for All”, which will surface and name 50 small and medium-sized businesses worldwide whose work best exemplifies the Summit’s aim of delivering all 17 Sustainable Development Goals (SDGs) by providing healthy, sustainable food and livelihoods for all.
The competition recognises those playing a key role in “building back better” from the pandemic while calling attention to the challenges they have been battling to overcome. The pandemic has disproportionately affected smaller businesses across the globe, especially those led by women. For example, the revenues of European SMEs alone saw reductions by as much as 70 per cent, according to one survey, while the World Bank estimates that …
The emergence of the coronavirus pandemic in December 2019 was a silver lining for Africa’s internet economy.
With people turning to e-commerce following the shutdowns occasioned by Covid-19, Africa’s digital transformation accelerated creating decent and resilient digital jobs for the millions affected by the disruption.
The advent of the 4th Industrial Revolution (4IR) has led to hitherto unseen explosions of excellence popping all over the continent which is heralding a shift from the begging bowl norm to creators of change and their own sustenance.
That Africa is not short of talent is a fact that has often been overlooked due to stereotypes that have been perpetuated for decades due to dependence on foreign aid which eroded the confidence of many. With Africa being majorly youthful, 4IR could be just what the continent needed to shift from the analogue way of …
Africa is estimated to lose substantial resources through illicit financial flows (IFFs).
These flows originate from several sources: revenues from illegal activities, tax avoidance, abusive profit-shifting, trade mis-invoicing, corruption, and others.
IFFs divert resources from social development and raise serious problems for financing development in Africa. These risks have been recognized in the 2030 Agenda for Sustainable Development, specifically in target 16.4 of the Sustainable Development Goals (SDGs).
The Addis Ababa Action Agenda on financing for development also calls for redoubling efforts to substantially reduce IFFs by 2030.
The Action Agenda invites the “appropriate international institutions and regional organizations to publish estimates of the volume and composition of illicit financial flows.”
However, there is no globally-accepted methodology to monitor IFFs. The lack of reliable, objective evidence can hinder policy interventions and undermine possibilities to tackle the problem.
Gold accounts for 77 per cent …
The Kenyan government and the Ministry of Agriculture have been accused of planning to shift farmers out of agriculture by commercialising the country’s agriculture sector.
Through a new agricultural policy, the country will see the increased use of chemical pesticides and fertilisers among Kenyan farmers. This is despite claims that some of the pesticides used in Kenya are harmful to human health and the environment.
The agricultural sector transformation and growth strategy (2019 – 2029) titled, “Towards Sustainable Agricultural Transformation and Food Security in Kenya” is interpreted as seeking to commercialise Kenya’s agricultural systems which will not only reduce the resilience of local communities to produce more food but also increase the contamination of the country’s natural resources by chemical fertilisers and pesticides.
Claire Nasike, Greenpeace Africa’s Campaigner, says that the use of fertilisers and pesticides not only …
Africa's resilience to economic shocks
For two decades, Africa’s economic growth has been phenomenal heralding a brighter future in a continent that has yearned for emancipation from the Dark Continent moniker.
This growth was registered through the Ebola outbreak and the global financial crisis, out of which the continent proved its resilience to economic shocks. However, it seems like this trajectory has been interrupted by the coronavirus pandemic which is testing the continent’s strength and agility in the face of such calamities.
But it is not all doom and gloom as the continent ...