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Extreme Weather in South Africa Is Disrupting Tourism-Research Tracks the Impact On Coastal Areas
July 8, 2024-- South Africa has experienced some extreme weather events in recent months. These have included floods and an uncommon tornado in South Africa's KwaZulu-Natal province, floods in the Eastern Cape and mid-latitude cyclones in the Western Cape. Kaitano Dube, a human geographer who has researched tourism, extreme weather and resilience to climatic threat,, says these severe storms are set to disrupt tourism.
Is climate change affecting tourism in South Africa?
The increase in carbon emissions has caused a rise in global temperature, a key driver of climate change. In the past two years, and 2024 in particular, temperatures have reached record highs. The number and severity of extreme weather events and associated damage and losses from these have increased worldwide.
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Source: allafrica.com
Nigeria: Investors Gain N15.6trn in H1'24 Amid Monetary Policy Tightening
July 2, 2024--Despite the lull in economy and other challenges, investors on the Nigerian Exchange Limited, NGX gained over N15.6 trillion in the first half of the year, H1'24, a situation attributed to the forex market reforms introduced by the Central Bank of Nigeria, CBN.
Specifically, the market capitalisation, which represents the total value of equities listed on the Exchange, rose to N56.601 trillion at the end of H1'24 from N40.917 trillion at the end of December 2023.
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Source: allafrica.com
Bond trading rivals for Nairobi Securities Exchange
June 25, 2024--The Central Bank of Kenya's DhowCSD, a digital government bond trading platform, has reached a milestone of 80,000 investors, according to a report in Business Daily today (25 June). DhowCSD went live on 31 July 2023 and is designed to boost efficiency of investing in Treasury Bills and Treasury Bonds.
It is an upgrade of the CBK's Central Securities Depository (CSD) platform.
CBK Governor, Dr. Kamau Thugge told Business Daily: "When we went live with DhowCSD, we had 40,000 accounts. Today, that number is somewhere between 80,000 and 90,000. In less than a year, the number of accounts has doubled. DhowCSD has brought convenience; previously, it would have been intimidating to go to the CBK for someone who doesn’t know where to start."
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Source: africancapitalmarketsnews.com
AI and the Future of Work in Africa-White Paper
June 23, 2024--Generative AI presents a powerful tool for shaping a dignified future of work in Africa. By proactively addressing the challenges and harnessing the opportunities, Africa can leverage AI to drive economic growth, empower its workforce, and become a leader in socially responsible AI development.
Overall, the recommendations for a Dignified Future of Work for all with Generative AI include
Invest in infrastructure and education: Africa needs strong infrastructure and a skilled workforce to maximize the benefits of AI.
Develop inclusive AI policies: National and regional AI policies focused on inclusive education, worker protection, and stakeholder involvement are essential.
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Source: nepad.org
Global Foreign Investment Declines for Second Year As Geopolitical Tensions Rise, UN Trade Body Reports
June 20, 2024--Foreign direct investment (FDI) fell by two per cent to $1.3 trillion in 2023 amid global economic slowdown and rising geopolitical tensions, according to a report released on Thursday by the UN trade and development body, UNCTAD.
The 2024 World Investment Report highlighted that insufficient funding is hindering efforts to achieve the 2030 Agenda for Sustainable Development, underscoring the urgent need for policies to bolster finance.
"Investment is not just about capital flows; it is about human potential, environmental stewardship and the enduring pursuit of a more equitable and sustainable world," said Rebeca Grynspan, Secretary-General of the UN Conference on Trade and Development (UNCTAD).
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Source: allafrica.com
Kenya: Blackrock Liquidates Em Fund With Equities in Kenya, Nigeria
June 19, 2024--American asset manager BlackRock has announced the liquidation of its emerging market (EM) funds in Kenya and Nigeria.
The decision follows ongoing liquidity challenges in several frontier markets, which have been exacerbated by delays in the repatriation of funds in dollars.
Its board concluded that liquidating the fund is in the best interest of both the fund and its shareholders.
One of the significant factors impacting the liquidation process is the conversion of local currencies, including Nigeria's Naira.
As a result, the liquidation will be extended over a longer period.
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Source: allafrica.com
Nigeria: Stock Investors Gain N619bn in May Despite Rates Hike
June 3, 2024--Analysts expect bearish outlook in June
The equities market defied the persistent hike in interest rate by the Central Bank of Nigeria, CBN, at the end of trading in May with investors recording a marginal gain of N619 billion.
This is a sharp contrast from the previous month when the market declined by 6.16 percent after losing more than N3.5 trillion in value following a 200 basis points increase in the monetary policy rate, MPR, to 24.75 percent by the central bank. This had resulted in migration of assets to the fixed income market.
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Source: allafrica.com/
Fast progress at Ethiopian Securities Exchange
May 17, 2024--The European Securities and Markets Authority (ESMA), the EU's financial markets regulator and supervisor is publishing today the Statistics on Securities and Markets (ESSM) Report, with the objective of increasing access to data of public interest.
A big milestone was the strong response to the capital raise for the exchange, a for-profit company. It announced on 4 April that investors had offered $26.6m (ETB 1.51bn) in response to its targeted capital raise of $11.1m.
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Source: africancapitalmarketsnews.com
Nigeria: Domestic Investors Stake N1.335trn in Equities in Q1
April 25, 2024--Total transactions by domestic portfolio investors in the stock market rose by 86.23 per cent as they invested a total value of N1.335 trillion in the first quarter (Q1) of 2024.
The domestic investors have continued to hold ground on the floor of the Nigerian Exchange (NGX) Limited despite rising inflation and currency volatility in the foreign exchange market as they were major drivers of the Domestic & Foreign Portfolio Investment.
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Source: allafrica.com
Nigeria: Foreign Investment in Stock Market Rises 168 Percent to N118.92bn
April 23, 2024--Foreign portfolio investment, FPI, into the stock market rose by 167.8 percent, Year-on-Year (YoY), to N118.92 billion in February 2024 from N44.52 billion in the corresponding period in 2023 buoyed by improved liquidity in the foreign exchange (FX) market following reforms by the Central Bank of Nigeria, CBN.
The Nigerian Exchange Limited (NGX) disclosed this in its Domestic and Foreign Portfolio Investment report for February 2024, which showed a 0.3 percentage point increase to 11.78 per cent in share of FPI in the total equities transaction of N1.009 trillion during the period.
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Source: allafrica.com
