Tech

AfDB launches reports to give African country-specific dynamics and insights

Published

4 months ago

July 31, 2024

The African Development Bank Group (AfDB) has launched Africa-wide Focus Reports designed to deepen policy dialogue on the macroeconomic performance and outlook of individual countries and to act as an indispensable tool for policy makers, government and development partners.

The reports, released on Wednesday in line with the theme of the 2024 African Economic Outlook report titled, “Driving Africa’s Transformation: The Reform of the Global Financial Architecture,” are to give deeper country-by-country specific dynamics and insights.

The African Economic Outlook report, which is issued annually, also provides timely evidence and analysis on the continent’s growth, empowering African policymakers to make informed decisions.

“Growth performance and outlook vary across the 54 African countries of the report, reflecting differences in economic structure, commodity dependence, and policies,” Prof. Kevin Chika Urama, Chief Economist & Vice President for Economic Governance and Knowledge Management the AfDB said while launching the report

“The 2024 reports assesses the experiences of individual countries in accessing finance necessary to fund their structural transformation and call for an overhaul of the global financial architecture to help turn around African economies.

“The reports make bold recommendations for financing structural transformation at country level through reforms of the global financial architecture to better respond to African countries’ growing development financing needs, exacerbated by recurrent global and domestic shocks.”

All 54 reports document funding needs and gaps as well as inadequacies of the current global financial system in supporting Africa’s structural transformation up to 2063. The reports make recommendations across five key areas:

“Leveraging Private Sector Financing, the private sector will remain a key partner in financing African economies. Countries need allow greater private sector participation in the economy to complement public investments, particularly in areas with high social returns such as climate action and human capital development.

“In summary, these reports contain pragmatic policies (short, medium and long-term) to accelerate African countries’ economic growth and structural transformation.

“They also provide governments and potential investors with up-to-date, accurate data to inform policy and investment decisions,” he added.

Related Topics:AFDB Africa Economy Featured Reports

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Tech

Ghana partners with The Gambia to provide free roaming services

Published

2 hours ago

November 21, 2024

Isaac Dachen

Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

1 day ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.