Unveiled: 3 key emerging trends for Africa

NaijaAgroNet:

The 2017 version of Ecobank Research’s Fixed Income, Currency and Commodities (FICC) Guidebook, has identified tripod future for the African continent, reports NaijaAgroNet.

The Senior Public Relations Director at Ecobank group, Sherelle Folkes, disclosed in a press statement made available to NaijaAgroNet and listed these to include that the continent’s economy rebounding after a trying year, just as gas has been discovered as the next oil in West Africa, whilst the continent is evolving in Financial Technology (FinTech) leadership.

NaijaAgroNet quoted Folkes as saying that expert knowledge and analysis on African markets for investors and businesses, was launched at AfricaFICC, indicated a positive outlook for the continent, with three key trends forecast to take hold during the next 12 months.

NaijaAgroNet reports that the first indicates an economic rebound in sub-Saharan Africa driven by a recovery in the region’s economic heavyweights, such as Nigeria and South Africa, and ongoing growth in the top performers, Ethiopia, Côte d’Ivoire and (more recently) Ghana.

Growth will be driven by a rise in oil production (notably in Ghana, Republic of Congo, Nigeria and Angola), strengthening infrastructure investment across West and East Africa, and improved weather conditions which bode well for crops.

Strengthening economic activity, plus a moderate improvement in oil and mineral prices, will help narrow the current account deficit, but pressure on SSA currencies will remain.

The second emerging trend points to West Africa’s gas sector becoming a hive of activity in 2018 from Senegal to Angola, with the development of gas pipelines, floating liquefied natural gas (FLNG) platforms and major gas field projects.

Governments in the Gulf of Guinea and across West Africa have ramped up efforts to secure gas supply in order to boost domestic power generation and diversify their revenues away from crude oil.

Deregulating the gas market and allowing market-driven gas prices will be key to unlocking further gas infrastructure investment across the region.

The third trend suggests Fintech innovation in Africa picking up speed in 2018 buoyed by a new generation of Africans who are ‘digital natives’. The proliferation of tech hubs across Africa (notably in South Africa, Kenya, Rwanda, Nigeria, Ghana and Côte d’Ivoire) will nurture the next wave of African start-ups and help connect them with investors.

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Germany backs renewable energy projects in Africa with RLSF

NaijaAgroNet:

The German Development Bank also known as Kfw and the African Trade Insurance Agency (ATI) have on the side lines of the annual Africa Investment Exchange: Power and Renewables Meeting, unveiled a new instrument to support renewable energy projects in sub-Saharan Africa that targets small- and mid-scale up to 50 Milliwatt (MW) green power renewable energy projects, reports NaijaAgroNet.

The facility, NaijaAgroNet gathered, is designed to provide a viable solution to one of the biggest challenges facing independent power producers (IPPs) operating in Africa, specifically the requirement to provide project lenders with a liquidity guarantee. The German Federal Ministry of Economic Cooperation and Development (BMZ) through KfW will provide funding of up to 32.9 million EUR to the facility, which aims to enable small-and mid-scale renewable energy projects in Africa to reach financial close by addressing liquidity requirements that lenders frequently require in order to fund such projects.

NaijaAgroNet reports that the launch of the new facility is happening at an opportune moment when emerging markets are seeing record investments in the renewable energy sector. The International Energy Agency (IEA) expects sub-Saharan Africa’s renewables capacity to grow by 73 per cent (24.4GW) over the period 2017-22. In addition, small-scale projects are seen as a potential solution to Africa’s energy deficit because they are easier to implement and can target energy requirements at source, but these projects find it difficult to access the type of guarantees needed to reach financial closure. The facility will kick in by providing immediate liquidity to keep the IPP afloat during periods of payment delays that are beyond the grace period provided in the power purchase agreement.

Günther Nooke, Personal Representative of the German Chancellor for Africa, BMZ, said “The Regional Liquidity Support Facility will address a key challenge in renewable energy project finance and de-risk private sector investments. We are pleased to provide the funding to this innovative instrument underlining Germany’s commitment to the objectives of the African Renewable Energy Initiative (AREI).”

The RLSF is designed to help independent power producers (IPPs) developing renewable energy projects in Africa to obtain the liquidity they need in the event that their off-taker (frequently a state owned entity) delays payment. The facility will provide immediate cash collateral supported by guarantees to a commercial bank that will in turn open a standby letter of credit to the benefit of the IPP. The amount provided will enable the IPP to operate and service the debt for up to 6 months. Furthermore, unlike most IPP letters of credit (which tend to be 12 month tenors) the facility is designed to be in place for multiple years.

Dr. Thomas Duve, KfW Director Southern Africa and Regional Funds, noted “We highly appreciate the opportunity to partner with ATI on this innovative instrument. The RLSF is a strongly market-driven concept, emphasizing KfW’s strategy to support and leverage the resources of local partners and the private sector.”

The facility, in combination with ATI’s traditional suite of political and trade credit risk insurance products (in particular ATI’s arbitration award default cover), means that ATI is able to cover the full range of political and financial risks facing investors on such projects.

Speaking at the launch, John Lentaigne, ATI’s Chief Underwriting Officer commented “We are delighted to be working with the German government, represented by KfW, on an initiative that directly targets one of the main bottlenecks preventing green power projects from being financed in Africa.”

Jef Vincent, Senior Advisor to ATI, who has overall responsibility for the initial implementation of the facility, added “Unlike some of the alternative solutions to the liquidity issue, ATI’s guarantee (as provided via the RLSF) will not require a counter-guarantee from the relevant Ministry of Finance, and as such we are confident this will be a very useful tool for those projects that we expect to support.”

Isaac Oyimah with agency report/GEE

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Beware! Nigerian children plan takeover on November 20

NaijaAgroNet:

Yes, beware, the World Children’s Day (WCD) is on 20 November, and they youngsters are ready for the anniversary of the Convention on the Rights of the Child, reports NaijaAgroNet.

This follows the planned commemoration for this year, NaijaAgroNet reports that children across the world would ‘takeover’ high-profile moments in the media, politics, business, sports, music and entertainment to raise awareness on the most vulnerable and hardest to reach children. 

Children, according to UNICEF Nigeria, would raise their voices in solidarity with the world’s most disadvantaged children.

Also, children would shine a spotlight on the most pressing challenges faced by their generation, even as more than anything else on this day, “we seek your support to make this an advocacy moment for children’s right by children themselves.”

UNICEF equally outlines some children takeovers already confirmed;

1.      Children takeover prominent roles at Hilton Hotel.

2.     Presentation by a Nigerian child at the Ted talk-like Regional African Dialogue in Accra Ghana.

3.     Children’s visit to Fifth Chukker Polo and Country Club and takeover of management and games at the Club.

4.     Children takeover broadcasts at Federal Radio Corporation of Nigeria

5.     Children takeover broadcasts at Kaduna State Media Corporation

6.     Children takeover broadcasts at Ebonyi State Broadcasting Service

7.     Children takeover broadcasts at Broadcasting Corporation of Abia state

8.     Children takeover broadcasts at Imo state Broadcasting Corporation

9.     Children takeover broadcasts at Anambra Broadcasting Service

10.  Children takeover broadcasts at Cross River Broadcasting Corporation

11.  Children takeover broadcasts at Radio Bayelsa

12.  Children takeover broadcasts at Radio Rivers

13.  Children take over broadcasts at Rhythm FM

14.  Children takeover broadcasts at Inspiration FM (Radio)

15.  Children takeover broadcast at Lagos Television

16.  Children takeover broadcast at Radio Lagos, Eko FM

17.  Children takeover broadcasts at Federal Radio Corporation of Nigeria

18.  Children takeover broadcasts at Nigerian Television Authority

19.  Children takeover broadcast at Breeze FM Akure

20.  Children takeover broadcasts at Positive FM Akure

21.  Children takeover broadcasts at Bauchi State Television

22.  Children takeover broadcasts and the Managing Director’s role at the Bauchi Radio Corporation

Isaac Oyimah/GEE

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Pix: VP Osibanjo with some Nigerian children during a visit. courtesy: premiumtimesng.com

Peace is impossible without food security

NaijaAgroNet:

Experts participating at the Noble Peace Laureates Alliance in Rome, have declared that peace is impossible without food security, reports NaijaAgroNet.

Leading discussion on this was the Communications Director, at the Food and Agriculture Organisation (FAO), Enrique Yeves said, in his introduction to the session on, "Perspectives for Integral Disarmament" that freeing the world from hunger is essential if “we want to build long-lasting peace."

After steadily declining for over a decade, he noted that global hunger is on the rise again, affecting 815 million people in 2016, or 11 per cent of the global population.

“At the same time, multiple forms of malnutrition are threatening the health of millions worldwide,” he said.

The increase, he emphasized has reached 38 million more people than the previous year, which is largely due to the proliferation of violent conflicts and climate-related shocks.

Rural areas and their populations, FAO officer said, have continued to be the most affected by conflicts, as attacks on farming communities undermine rural livelihoods and displace people from their homes

"Just as conflict leads to hunger, hunger can also lead to conflict," Yeves said, stressing that peace is a prerequisite to achieving food security and ending this "vicious circle."  

Further, the FAO Communications Director warned that conflict has driven northeast Nigeria, Somalia, South Sudan and Yemen to the brink of famine and triggered acute food insecurity also in Burundi, Iraq and elsewhere.

He noted that 489 million of the 815 million chronically food-insecure and malnourished people in the world live in countries affected by conflict.

Expressing optimistic that agriculture is part of the solution, he cited for instance that over 75 per cent of the world's poor and food insecure depend on agriculture and natural resource-based livelihoods, in conflict situations, agriculture and food security can give new life to affected homes and communities, bringing people together and driving recovery.

"The right mix of humanitarian aid and rural development can set the foundations for rebuilding livelihoods," he said.

Isaac Oyimah/GEE

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Zero hunger by 2030 is still possible

NaijaAgroNet:

The Food andAgriculture Organisation (FAO) has reiterated determination that the zero hunger by 2030 is still very possible, reports NaijaAgroNet.

Although the prevalence of hunger has increased in some parts of the region, the 2030 goal is still within reach. But more investment will be needed to improve food systems across the region, a call also repeated at the opening of the regional symposium.

"Good nutrition depends on raising awareness about healthy foods and choices, as well as efficient, affordable and sustainable systems to deliver that food," said Kundhavi Kadiresan, FAO Assistant Director-General and Regional Representative for Asia and the Pacific. "If we are to reach the Sustainable Development Goal of Zero Hunger in this region, we must invest to improve our food systems and pool our knowledge and resources to meet our current food and nutrition challenges head on."

The symposium is an integral component of the UN Decade of Action on Nutrition 2016-2025, which seeks to increase investments and actions to improve people's diets and nutrition. Recent innovations and the latest research in nutrition and food systems from this region, as well as the rest of the world, are being examined over two days.

The aim is to discuss concrete actions that result in higher quality and more efficient production, processing and distribution of food, in addition to healthy and sustainable diets. In order to achieve those goals, participants will work toward activating regional and global partnerships and networks that promote nutrition-sensitive agriculture.

The Asia-Pacific forum is one of five regional symposia that are taking forward the outcomes of the International Symposium on Sustainable Food Systems and Healthy Diets held last December in Rome.

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Pope Francis warns, says real priorities relegated due to nuclear spending

NaijaAgroNet:

The Catholic Pontiff, Pope Francis has warned that the real priorities facing humankind, are relegated to second place as a result of the expenses incurred by nations in the escalation of the arms race, reports NaijaAgroNet.

Addressing audience at the global event on atomic disarmament included 11 Nobel Peace Laureates, some of whom are part of FAO's Nobel Peace Laureates Alliance, the Pope listed some of the real priorities that needed to be tackled to include the fight against poverty, the promotion of peace, the undertaking of educational, ecological and healthcare projects, and the development of human rights.

"Weapons of mass destruction, particularly nuclear weapons, create nothing but a false sense of security. They cannot constitute the basis for peaceful coexistence between members of the human family, which must rather be inspired by an ethics of solidarity," the pontiff told participants  of the International Symposium on Disarmament Prospects for a World Free of Nuclear Weapons and for Integral Disarmament.

The FAO's Nobel Peace Laureates Alliance, NaijaAgroNet gathered is a group aimed at tackling the twin problems of hunger and violence in the agency's ongoing work to promote sustainable development and resilience across the world. It includes Nobel laureates Oscar Arias Sánchez, Tawakkol Karman, Betty Williams and Muhammad Yunus.

Ogochukwu Nebenanya/GEE

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UN agencies, policy makers, private sector pool efforts

NaijaAgroNet:

The United Nations agencies, policy makers, private sector are pooling efforts  to boost sustainability of food security and nutrition, reports NaijaAgroNet.

This was contained in the latest report's findings, released in Bangkok at the Asia-Pacific Symposium on Sustainable Food Systems for Healthy Diets and Improved Nutrition, recently.

The symposium has drawn some 250 parliamentarians, policy-makers, academicians, researchers, students, civil society, the private sector and development partners from countries across the region and beyond.

Experts will discuss policies and programmes that can enable better production, processing and distribution of food, as well as more effective ways to promote better nutrition and healthier diets. The symposium is convened by FAO in collaboration with the World Food Programme (WFP), World Health Organization (WHO), UNICEF and the World Bank.

The symposium was opened by FAO's Special Goodwill Ambassador for Zero Hunger in the region, Her Royal Highness Princess Maha Chakri Sirindhorn of Thailand, who called upon the participants to work together to find solutions. "The world has committed to zero hunger and improving nutrition as a key outcome of the 2030 Sustainable Development Goals. We must look at improving our current systems of production and patterns of consumption, and set a course of action."

The FAO report also highlighted a call for more innovations to stem food loss and food waste, in a cost-effective manner, which could also play an important part in improving overall food systems.

Isaac Oyimah/GEE

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Peace is impossible without food security

NaijaAgroNet:

Experts participating at the Noble Peace Laureates Alliance in Rome, have declared that peace is impossible without food security, reports NaijaAgroNet.

Leading discussion on this was the Communications Director, at the Food and Agriculture Organisation (FAO), Enrique Yeves said, in his introduction to the session on, "Perspectives for Integral Disarmament" that freeing the world from hunger is essential if “we want to build long-lasting peace."

After steadily declining for over a decade, he noted that global hunger is on the rise again, affecting 815 million people in 2016, or 11 per cent of the global population.

“At the same time, multiple forms of malnutrition are threatening the health of millions worldwide,” he said.

The increase, he emphasized has reached 38 million more people than the previous year, which is largely due to the proliferation of violent conflicts and climate-related shocks.

Rural areas and their populations, FAO officer said, have continued to be the most affected by conflicts, as attacks on farming communities undermine rural livelihoods and displace people from their homes

"Just as conflict leads to hunger, hunger can also lead to conflict," Yeves said, stressing that peace is a prerequisite to achieving food security and ending this "vicious circle."  

Further, the FAO Communications Director warned that conflict has driven northeast Nigeria, Somalia, South Sudan and Yemen to the brink of famine and triggered acute food insecurity also in Burundi, Iraq and elsewhere.

He noted that 489 million of the 815 million chronically food-insecure and malnourished people in the world live in countries affected by conflict.

Expressing optimistic that agriculture is part of the solution, he cited for instance that over 75 per cent of the world's poor and food insecure depend on agriculture and natural resource-based livelihoods, in conflict situations, agriculture and food security can give new life to affected homes and communities, bringing people together and driving recovery.

"The right mix of humanitarian aid and rural development can set the foundations for rebuilding livelihoods," he said.

Isaac Oyimah/GEE

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Anti-grazing bills: Lagos NUJ says FG must take a stand on Fulani herdsmen menace

NaijaAgroNet:

The Federal Government of Nigeria (FGN) has been charged to take a stand over the menace of Fulani herdsmen across the country, reports NaijaAgroNet.

The Lagos State Council of the Nigeria Union of Journalists (NUJ) gave this charge at its meeting held at the Combo Hall, Lagos State Television, Agindingbi, last weekend.

In a communique made available to NaijaAgroNet, NUJ while reacting on the state of the nation and the union, outlined some six-point as enunciated by the communiqué committee, made up of Ajibola Abayomi, Eniola Ajayi, Olasunkanmi Akoni, Chidinma Agu and Olalekan Olagunju, frowned at the spate of anti- grazing bill being championed by various states across the country, lamenting that FG silent over the matter is no longer golden.

“The Federal Government was challenged to come up with a stand following reactions of various states against the grazing bill in order to curtail violence between the farmers and Fulani herdsmen,” the congress charged, kicking against the plan by the Federal Government to clamp down on the social media.

On the 2018 budgetary allocation by the Federal Government, the congress presided over by its newly elected chairman, Dr. Qasim Akinreti, said the allocation of 6 per cent of the fund to the education sector as against the 26 per cent recommended by the United Nations, and as such advised the government to give higher percentage to the sector to engender development.

In addition, the congress urged a step up of professionalism among journalists via training and retraining of members into online publication, in order to raise the level of professionalism and operate within the ethics of the profession.

Further, the congress resolved:

“That it was high time the Union researched and championed new marketing models to aid media development so as to meet its financial obligations and commitments in the changing phase of the economy;

“To set up Welfare Committee to assist Journalists facing challenges and also to liaise appropriately with management of media houses on prompt payment of salaries;

“Committees set up to look into various crises on land matters were given up to January 2018 Congress to submit their reports to enable the Union take a position on the way forward.”

Uju N. Domonic/ED, Ops

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Poor diets, ill-equipped food systems growing threat to nutrition

NaijaAgroNet:

The Asia-Pacific region, home to most of the world's undernourished people, needs urgent action to improve diets and reset its food systems which are critical to the delivery of healthy, nutritious foods, says the Food and Agricultural Organisation (FAO), reports NaijaAgroNet.

According to the findings of FAO's 2017 Regional Overview of Food Security and Nutrition report, there is a pressing need to tackle malnutrition alongside further promotion of the consumption of healthier foods while curbing the growth in consumption of unhealthy foods. 

In addition to further investment in agriculture, the report also underlines an urgent need to step up investment in other areas to tackle malnutrition, such as improvements to sanitation, access to safe drinking water, improving diets during the first 1,000 days of life and policies and promotions to increase consumption of diverse nutrient-rich foods.

While food security has improved for millions of people in the Asia-Pacific region, hunger and malnutrition appear to be on the rise in some areas, the report warns. The latest figures indicate roughly half-a-billion people are undernourished in Asia and the Pacific.

The situation is particularly dire for children below the age of five. Overall, one-in-four suffers from stunting.  However, the report also finds that, during the last 15 years, obesity is on the rise, with "significant increases" in the prevalence of overweight children, particularly in South Asia, that is from three per cent to seven per cent and Oceania, from five per cent to nearly 10 per cent.

Isaac Oyimah with agency reports/GEE

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