Connect with us

Strictly Personal

Rwanda’s smart pathway to meet prosperity goal by Keith Hansen

Published

on

Rwanda, a small country nestled amongst a thousand green undulating hills, has been taking a cue from the rich nature that surrounds and sustains it.

Although its contribution to global greenhouse gas emissions is negligible, its vulnerability to climate change shocks risks stifling the remarkable economic and social progress the country has achieved in the past decade.

The consequences of extreme natural disasters, including frequent floods and droughts, dampen Rwanda’s prospects for sustainable growth. They also delay the government’s ambitious plans to improve the health and livelihoods of Rwandans.

A new diagnostic report from the World Bank, the Country Climate and Development Report (CCDR) for Rwanda, estimates that if no action is taken to address climate change, GDP would be around two percent lower on average through 2050 than it would be in a world without climate change, with similar reductions in levels of household consumption, exports, and government revenue.

Mainstreaming actions

Rwanda has been at the region’s forefront when it comes to putting climate at the centre of its development. The government has made concerted efforts to mainstream climate action into its strategies in order to significantly reduce greenhouse gas emissions and enhance adaptation — all while fostering a better, more prosperous, and more resilient future for its people.

It’s 2020 Nationally Determined Contribution (NDC) outlines critical climate mitigation and adaptation measures needed to support the country’s low carbon and resilient national development ambitions.

The CCDR for Rwanda presents pathways that Rwanda could consider achieving its Vision 2050 and national strategies for transformation, green growth, and climate resilience — while prioritising actions that will enhance the impact of NDC investments and deepen the commitment to green economic and social transformation.

The cost of implementing actions in the 2020 NDC is high — the Government estimates it at $11 billion, or to spend 8.8 percent of the GDP each year through 2030.

Thus, the biggest hurdle Rwanda faces in implementing its innovative, green, inclusive, responsive, and growth-oriented development pathway is finding resources to finance these plans and strategies.

It is a challenge that affects a majority of countries in the region at a time when global climate action is stalling amid multiple crises — the conflict in Ukraine, Covid-19, surging inflation, and reversals in development.

The CCDR suggests a mix of resources: the government’s own, development partners, and the private sector to help balance the costs and risks. Therefore, one of the most urgent actions the government can take is to develop a climate-smart, private sector-friendly investment environment that helps balance investment projects with policy reforms and encourages the development of a green finance market.

The private sector and private investment have crucial roles to play in helping Rwanda achieve its climate and development goals. The CCDR explores how Rwanda could best engage the private sector across its economy, including agriculture, infrastructure, and urban development.

For example, blended finance can reduce perceived risks by investors looking to enter new markets, and eventually demonstrate the business case for sustainable private sector investment in the sector and the country.

These kinds of solutions are needed to scale up investments in human and natural capital, but also in water infrastructure and management, conservation agriculture, and sustainable forestry to mitigate emissions from, agriculture and land use.

Blended finance

At COP27, Rwanda will unveil its plans to launch Ireme Invest, a facility for private-sector green investments that will crowd in private-sector investment. Ireme Invest is a green investment facility that will support the private sector to access green finance and increase the private sector’s contribution to Rwanda’s response.

The facility will catalyse green and low-carbon private investment with a focus on blended finance.

 

Keith Hansen is the World Bank Country Director for Rwanda, Uganda, Kenya, and Somalia, and Rolande Pryce is, World Bank Country Manager for Rwanda

Strictly Personal

All eyes in Africa are on Kenya’s bid for a reset, By Joachim Buwembo

Published

on

Whoever impregnated Angela Rayner and caused her to drop out of school at the tender age of 16 with no qualifications might be disappointed that we aren’t asking who her baba mtoto (child’s father) is; whether he became a president, king or a vagabond somewhere, since the girl ‘whose leg he broke’ is now UK’s second most powerful person, 28 years since he ‘stole her goat’.

Angela’s rise to such heights after the adversity should be a lesson to countries which, six decades after independence, still have millions of citizens wallowing in poverty and denied basic human dignity, while the elite shamelessly flaunt obscene luxury on their hungry, twisted faces.

After independence, African countries also suffered their adolescent setbacks in the form of military coups. Uganda’s military rule lasted eight years, Kenya’s about eight hours on August 1, 1982, while Tanzania’s didn’t materialise and its first defence chief became an ambassador somewhere.

What we learn from Angela Rayner is that when you’re derailed, it doesn’t matter who derailed you, because nobody wants to know. What matters is that you pick yourself up, not just to march on, but to stand up and shine.To incessantly blame our colonial and slave-trading ‘derailers’ while we treat our fellow citizens worse than the colonialists did only invites the world to laugh. Have you ever read of a colonial officer demanding a bribe from a local before providing the service due?

African countries today need to press ‘reset’. A state operates by written policies, plans, strategies and prescribed penalties with gazetted prisons for those who break the rules.  This is far more power than teenage Angela had, so a reset state should take less time to become prosperous than the 28 years it took her to get to the top after derailing.

So it’s realistic for countries to operate on five-year planning and electoral cycles, so a state that fails to implement a programme in five years has something wrong with it. It needs a reset.

A basic reset course for African leaders and economists should include:

1. Mindset change: Albert Einstein teaches us that no problem can be solved from the same level of consciousness that created it. For example, if you are in debt, seeking or accepting more debt is using the same level of thinking that put you there. If you don’t like Einstein’s genius, you can even try an animal in the bush that falls into a hole and stops digging. Our economists are certainly better than a beast in the bush.

2. Stealing is wrong: African leaders and civil servants need to revisit their catechism or madarasa – stealing public resources is as immoral as rape.

3. Justifying wrong doesn’t make it right: Using legalese and putting sinful benefits in the budget is immoral and can incite the deprived to destroy everything.

4. Take inventory of your resources and plan to use them: If Kenya, for example, has a railway line running from Mombasa to Nairobi, is it prudent to borrow $3.6 billion to build a highway parallel to it before paying off and electrifying the railway?

If Uganda is groaning under a $2 billion annual petrol import bill, does it make sense to beg Kenya for access to import more fuel, when Kampala is already manufacturing and marketing electric buses, while failing to use hundreds of megawatts it generates, yet the country has to pay for the unused power?

If Tanzania… okay, TZ has entered the 21st Century with its electric trains soon to be operating between Dar es Salaam and Morogoro. Ethiopia, too, has connected Addis Ababa to the port of Djibouti with a 753-kilometre electric railway,  and moves hundreds of thousands of passengers in Addis every day by electric train.

5. Protect the environment: We don’t own it, we borrowed it from our parents to preserve it for our children. Who doesn’t know that the future of the planet is at stake?

6. Do monitoring and evaluation: Otherwise you may keep doing the same thing that does not work and hope for better results, as a sage defined lunacy.

7. Don’t blame the victims of your incompetence: This is basic fairness.

We could go on, but how boring! Who doesn’t know these mundane points? We are not holding our breath for Angela’s performance, because if she fails, she will be easily replaced. Africa’s eyes should now be on Kenya to see how they manage an abrupt change without the mass bloodshed that often accompanies revolutions.

Continue Reading

Strictly Personal

The post-budget crisis in Kenya might be good for Africa, after all, By Joachim Buwembo

Published

on

The surging crisis that is being witnessed in Kenya could end up being a good thing for Africa if the regional leaders could step back and examine the situation clinically with cool-headed interest. Maybe there is a hand of God in the whole affair. For, how do explain the flare not having started in harder-pressed countries such as Zambia, Mozambique and Ghana?

As fate would have it, it happened in East Africa, the region that is supposed to provide the next leadership of the African Union Commission, in a process that is about to start. And, what is the most serious crisis looming on Africa’s horizon? It is Debt of course.

Even the UN has warned the entire world that Africa’s debt situation is now a crisis. As at now, three or four countries are not facing debt trouble — and that is only for now.

There is one country, though, that is virtually debt-free, having just been freed from debt due to circumstances: Somalia. And it is the newest member of the East African Community. Somalia has recently had virtually all its foreign debt written off in recognition of the challenges it has been facing in nearly four decades.

Why is this important? Because debt is the choicest weapon of neocolonialists. There is no sweeter way to steal wealth than to have its owners deliver it to you, begging you, on all fours, to take it away from them, as you quietly thank the devil, who has impaired their judgement to think that you are their saviour.

So?

So, the economic integration Africa has embarked on will, over the next five or so years, go through are a make-or-break stage, and it must be led by a member that is debt-free. For, there is no surer weapon to subjugate and control a society than through debt.

A government or a country’s political leadership can talk tough and big until their creditor whispers something then the lion suddenly becomes a sheep. Positions agreed on earlier with comrades are sheepishly abandoned. Scheduled official trips get inexplicably cancelled.

Debt is that bad. In African capitals, presidents have received calls from Washington, Paris or London to cancel trips and they did, so because of debt vulnerability.

In our villages, men have lost wives to guys they hate most because of debt. At the state level, governments have lost command over their own institutions because of debt. The management of Africa’s economic transition, as may be agreed upon jointly by the continental leaders, needs to be implemented by a member without crippling foreign debt so they do not get instructions from elsewhere.

The other related threat to African states is armed conflict, often internal and not interstate. Somalia has been going through this for decades and it is to the credit of African intervention that statehood was restored to the country.

This is the biggest prize Africa has won since it defeated colonialism in (mostly) the 1960s decade. The product is the new Somalia and, to restore all other countries’ hope, the newly restored state should play a lead role in spreading stability and confidence across Africa.

One day, South Sudan, too, should qualify to play a lead role on the continent.

What has been happening in Kenya can happen in any other African country. And it can be worse. We have seen once promising countries with strong economies and armies, such as Libya, being ravaged into near-Stone Age in a very short time. Angry, youthful energy can be destructive, and opportunistic neocolonialists can make it inadvertently facilitate their intentions.

Containing prolonged or repetitive civil uprisings can be economically draining, both directly in deploying security forces and also by paralysing economic activity.

African countries also need to become one another’s economic insurance. By jointly managing trade routes with their transport infrastructure, energy sources and electricity distribution grids, and generally pursuing coordinated industrialisation strategies in observance of regional and national comparative advantages, they will sooner than later reduce insecurity, even as the borders remain porous.

Continue Reading

EDITOR’S PICK

Metro3 hours ago

‘No going back’, organisers of #EndBadGovernance protest tell Nigerian Govt

Organizers of the planned #EndBadGovernance protest scheduled to hold across Nigeria from August 1st to the 10th have refused to...

Culture18 hours ago

Trevor Noah set for ‘Off the Record’ world tour

South African comedian and talk show host, Trevor Noah, has announced a date for his “Off The Record” global tour...

Tech18 hours ago

SA mobility startup LULA acquires UK-based Zeelo’s operations

South Africa’s mobility startup, LULA, has announced the acquisition of the operations of UK-based Zeelo in a move that will...

Sports19 hours ago

Ngannou accuses Joshua of employing dirty tactics in their fight in Saudi Arabia

Former UFC heavyweight champion, Francis Ngannou, has accused British-Nigerian boxer, Anthony Joshua, and his promotion team of employing unfair and...

Metro1 day ago

#EndBadGovernance Protests: Please be patient with Tinubu’s govt, monarchs beg Nigerian youths

Some prominent traditional rulers in Nigeria have pleaded with Nigerian youths and organizers of the planned nationwide #EndBadGovernance protests scheduled...

Culture2 days ago

UNESCO removes Senegal’s Niokolo-Koba National Park from list of World Heritage sites in danger

The United Nations’ Educational, Scientific and Cultural Organization (UNESCO) has removed Senegal’s Niokolo-Koba National Park from the list of World...

Metro2 days ago

At Project Aliyense discourse, panelists call for balance between free speech, ethical considerations

The government has been urged to balance freedom of speech with ethical considerations and laws that prevent harm to others....

Tech2 days ago

Adenia Partners acquires Air Liquide’s operations in 12 African countries

Adenia Partners, a leading private equity firm, has completed the acquisition of Air Liquide’s operations in 12 African countries, adopting...

Metro2 days ago

We will handle planned nationwide protests as family matter— Nigerian Govt

The Nigerian government says it will handle the planned #EndBadGovernance protests scheduled to commence on August 1 as a family...

Culture3 days ago

Veteran Nigerian entertainer Charly Boy vows to divorce wife if Kamala Harris doesn’t win US presidential election

Veteran Nigerian entertainer, Charles Oputa, popularly known as Charly Boy, has vowed to divorce his wife of 47 years if...

Trending