Heads of state met at the African Development Bank’s gathering this week, where they mulled an overhaul of the world’s financial architecture
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The Big Three ratings agencies, Moody’s, S&P Global and Fitch, have extensive influence over how creditors assess Africa’s risk profile
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South Africa, the region’s economic powerhouse, looks to record improved, albeit tepid, growth this year and next
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The African Development Bank’s economic outlook report notes that 20 countries were in debt distress or at high risk of debt distress, hamstringing their ability to achieve social development goals
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Over-reliance on ageing and ailing colonial infrastructure leaves over 40% of the continent’s population without electricity
The current scramble for Africa’s natural resources by major global political and economic rivalries portends deeper economic and political hardships for the continent
The bank asked the African Climate Reality Project to coordinate and present a position statement on energy, agriculture, forestry, land and ecosystems and climate finance but cancelled the presentation at the last minute
Climate envoys from the UK, US, and the EU are in South Africa to discuss a possible coal retirement plan
In fewer than three days, a US citizen emits as much carbon as a person from Chad or Niger does in one year. Such is the asymmetry in culpability for climate change.
Environmentalists are up in arms over the decision
Water is central to human life and cuts across the sustainable development goals water
The new plant can’t meet World Bank’s loan conditions or sulphur emissions limits
The state-owned institution’s financial woes have led farmers and agribusiness to consider making an offer on the bank, starting a cooperative bank or partner with global commodities futures traders
The loan, which is repayable over five years at an interest rate of 1.1%, comes with various self-imposed conditions such cutting the public wage bill and rationalising support to the state-owned entities
The International Monetary Fund has approved a $4.3-billion – R71-billion – loan to South Africa to bolster the economic relief package
Successes and failures from other initiative such as the European Union will be instructive, but much work must be done before the African Continental Trade Area becomes a reality
Public-private partnerships and big infrastructure builds have been suggested as ways to boost South Africa’s flagging economy. Another option to consider is green bonds, which would also help achieve climate crisis goals
International and regional finance institutions such as the World Bank, the IMF and the AfDB have provided emergency assistance, but there still remains a funding gap to effectively fight Covid-19
The rich have a security blanket. The poorest have extended government assistance. But for South Africa’s middle class, there is little in the way of financial support during the Covid-19 lockdown. Lester Kiewit spoke to one family who are choosing between food, electricity and bond repayments
Measures to contain Covid-19, including the lockdown, are costly and hurt the economy
The Covid-19 outbreak should not be used as an occasion to diminish human rights, but as an opportunity to reaffirm them
A recent World Bank report highlighted the costs of limiting educational opportunity for girls
Zimbabwe is already in arrears with the AfDB, the IMF and the Word Bank
Africa’s population growth will cause most countries to become younger, a trend that will occur at the same time as the rest of the world ages
To limit dependence on China, Africa has several options to raise cash for infrastructure development
Of the 61 projects discussed at the forum, 45 have been negotiated and closed
Heads of state from across the continent, senior government officials and investors from across the globe have flocked to the conference
Being open for business means we have to be open with one another first
Investors discussed 60 projects and deals worth $40-billion with the aim of fast-tracking closure and removing policy and regulatory constraints
The investment forum is the first of its kind on the continent
African states have bet big on huge hydroelectric plants, but climate change is threatening rainfall
The African Investment Forum aims to mobilise funds to facilitate much-needed infrastructure projects