Browsing: United Nations

Tanzania is now executing several energy projects, including the East African Crude Pipe Line Project (EACOP), which brought several international attention fighting its realization.

The widely followed meeting is occurring in the continent for the fifth time and attracting thousands of participants engaging in serious conversations that might lead to the realization of climate targets.

The 27th meeting of parties calls for moving from negotiations (which occurred in COP26) and “planning for implementation” for all these promises and pledges made (United Nations -UN).

As Samia presents the ambitious deal on behalf of a dozen southern African nations – the pressure lies upon the developed economies to jump in and support the common cause.

UNCTAD World Investment Report 2021 specifically states that “Greenfield investments in industry and new infrastructure investment projects in developing countries were hit especially hard.”

These financial flows of investment dollars have deep-rooted implications for Africa in the sense that they are vital for sustainable development in less developed and poorer countries.

The decline in investment flows was disproportionately skewed towards developed countries where FDI fell by 58 per cent according to UNCTAD. Investment flows in developing economies fell by a moderate 8 per cent mainly because of resilient flows in Asia.

In 2020, total transaction values climbed by 22% to hit US$767 billion. or the first time, and in a pandemic, the industry is processing more over US$2 billion per day which has more than doubled since 2017. 
The GSMA predicts that by the end of 2022, this value will be in excess of US$3 billion every single day. Some of the innovations that will help propel this growth include APIs and regulation initiatives like tightening transaction and balance limitations which could bolster the industry’s transaction values growth.
Transaction costs remain a big concern for many with users calling for a review of this in countries like Kenya. When the pandemic was announced in Africa, Kenya and Ghana- which also happen to be the continent’s two biggest mobile money markets– were swift to scrap fees on small person-to-person transactions.

Debt service is putting tremendous pressure on East African governments because of limited foreign exchange earnings; therefore the Covid-19 vaccination program for East Africa will give investors confidence in most sectors especially agriculture and tourism which are major foreign exchange earners for the region.

The foreign exchange gains will lead to a positive trickle-down effect to the different businesses and general population.