Browsing: Africa

In response to the growing global financial turbulence, several African Union member countries have formed a groundbreaking alliance dubbed the African Sovereign Debt Justice Network (AfSDJN). The primary goal of this alliance is to advocate for comprehensive financial reforms on a global scale, aimed at easing the growing debt burden on African economies, which have reached unsustainable levels. 

Dr. Akinwumi Adesina, the President of the African Development Bank (AfDB), has underscored the urgency of harnessing modern technology in Africa to unlock the continent’s agricultural potential and engage the younger generation in farming. This statement was made at the recently concluded World Economic Forum held in Riyadh.

Johannesburg, South Africa’s most populous city, stands on the precipice of a severe water crisis, reminiscent of the 2018 drought that besieged Cape Town. The increasing population and consequent urbanization, paired with the adverse effects of climate change, are putting massive pressure on the city’s already strained water supply system.

In New York City, several immigrants from West African countries are battling several challenges. These migrants, including a significant number of educated young men from Senegal and other nations, are grappling with hardship as they seek an improved life in the giant metropolis.

The Bank of Tanzania has issued a public advisory due to an alarming increase in cases of digital robbery, urging bank customers and the general public to exercise caution. Financial institutions are facing a rising threat to their banking systems due to technological advancement, as revealed by Central Bank Governor, Professor Florens Luoga. 

Internet access in several parts of West Africa has been severely disrupted due to an unexpected breakdown of an undersea cable system, which significantly impacted 13 countries across the continent. This occurrence may potentially result in up to a three-week-long interruption of web services, causing significant inconvenience to both individual and business users. 

Tanzania has been selected as the host nation for the 2025 East African Petroleum Conference (EAPC), showcasing the country’s growing importance in the petroleum sector. The significant decision was made during the 9th edition of the East African Petroleum Conference, held recently in Kenya.

Sergei Lavrov, Russia’s Foreign Minister, recently paid a historic visit to the African continent, signaling Russia’s ambition to strengthen its influence in Africa. Amid the escalating tensions between African nations and Western powers over sanctions and other forms of interference, Lavrov indicated the readiness of his country to act as a mediator in the continent’s conflicts and counter what he described as “destructive” foreign intrusion.

The African Development Bank (AfDB) has contracted a $15 million deal with NMB Bank Zimbabwe, aimed at fueling the growth of the financial sector within the country. This transaction aligns with the AfDB’s strategy of driving the development of Africa’s financial markets and promoting financial inclusion throughout the continent.

In a fresh concerted effort to face the challenges of climate change, 79 countries under the African, Caribbean, and Pacific (ACP) coalition have promised to reinforce their political, economic, and social alliances with the European Union (EU). The combined force is set to tackle various global issues, significantly focusing on climate change, with or without the backing of the United States.