(Posted 09th March 2023)
CCA MEMBERS IN THE NEWS
Standard Bank is Africa’s most valuable banking brand
Business Ghana
Standard Bank Group, the parent company of Stanbic Bank Ghana, has for the second consecutive year been ranked the most valuable banking brand on the African continent. According to a new report from leading brand valuation consultancy, Brand Finance, the bank also increased its brand value by 10 per cent in the last year to reach over $1.74 billion…. Read more>>
Trimble launches new services to update distribution
Farm Progress
The pace of change in the ag tech world isn’t slowing, and companies that have pioneered these tools keep adding new services. For Trimble, the work extends from new monitors to enhanced application systems — and even a change in how the company sells its products…. Read more>>
U.S.-AFRICA RELATIONS
US firm to bid to turn DRC oil permits in Virunga park into conservation projects
The Guardian
A New York investment firm is to launch a $400m (£334m) bid for oil concessions in the Congo basin rainforest and Virunga national park with plans to turn them into conservation projects, the Guardian can reveal…. Read more>>
US CDC concludes cough syrups likely to blame for children’s deaths in Gambia – report
Reuters
Contaminated cough and paracetamol syrups imported into Gambia almost certainly caused the deaths of 66 children due to acute kidney injury, according to an investigation led by the United States Center for Disease Control and Prevention and Gambian scientists…. Read more>>
AGRIBUSINESS
Horn of Africa drought is set to become the region’s worst on record
New Scientist
The Horn of Africa may soon see its worst drought on record, as forecasts predict dry weather during this year’s March-to-May rainy season. This would be the sixth consecutive failed rainy season in parts of Ethiopia, Kenya and Somalia since the end of 2020. The severe drought, along with conflict and ongoing economic pressures, has displaced more than a million people, and led to a hunger crisis for more than 20 million others…. Read more>>
White Zimbabwe farmers reject 3.5 billion dollar deal
SABC News
White Zimbabwe farmers living in the Southern African region have rejected Zimbabwe’s offer to settle a 3.5 billion dollar land compensation deal over 10 years. The amended agreement was signed in 2020 with the farmers who had been removed from their properties more than 20 years ago. The farmers say they will be stepping up pressure against the Zimbabwean government by demanding the return of their farms to them…. Read more>>
ENERGY
Next Africa: Gabon Forest Fight is Key to Slowing Global Warming
Bloomberg
Gabon, where nine-tenths of the landmass is covered by trees, is seen as a test case for whether there’s money to be made in forest preservation…. Read more>>
Nigeria’s Buhari opens emergency power plant in troubled northeast
Reuters
Nigeria’s outgoing President Muhammadu Buhari opened an emergency gas-fired power plant in the northeastern city of Maiduguri on Thursday, where Islamist insurgents have wreaked havoc with attacks on the electricity network…. Read more>>
Namibia Makes Third Offshore ‘Light Oil’ Discovery
Barron’s
Namibia announced on Monday the discovery of light oil off the country’s southern coast, the third such find in a year. “We are delighted to announce this third oil discovery,” state-owned oil firm National Petroleum Corporation of Namibia (NAMCOR), said in a statement. Further work is needed to determine the quality and size of the reservoir, located in deep water, some 270 kilometres offshore…. Read more>>
HEALTH
African Cholera Cases Falling but Floods Up Risk: WHO
Barron’s
Cholera cases are falling across Africa, the World Health Organization said Thursday, but the number of deaths remains stable and heavy flooding is increasing the risk of the disease spreading…. Read more>>
Sudan declares dengue fever cases in Khartoum for the first time
Sudan Tribune
Sudan on Wednesday declared a fever epidemic in Khartoum state, after confirming 533 cases of the disease, with another 928 suspected cases being monitored. Cases of mosquito-borne illness occur every year in Darfur, Kordofan regions and some areas of central Sudan due to the fragile health system in the country…. Read more>>
Frozen cells reveal a clue for a vaccine to block the deadly TB bug
NPR
Tuberculosis may seem like a relic of the past in wealthy countries, yet it still kills more people worldwide than any other infectious disease besides COVID – with about 1.6 million people dying from TB annually. And the one approved vaccine – invented more than a century ago – is only reliably protective when given to children…. Read more>>
INFRASTRUCTURE
IMF approves $114.8 emergency funding to South Sudan
The East African
The executive board of the International Monetary Fund (IMF) has approved an immediate disbursement of $114.8 million to the government of South Sudan to help it address the urgent balance of payment needs arising from the rising food insecurity and declining forex reserves…. Read more>>
Africa’s largest economy is running out of cash. Here’s why.
The Washington Post
Nigeria’s decision to replace high-denomination currency with new notes has caused a massive cash crunch in Africa’s largest economy. The shortages have led to protests and riots in parts of the country as millions stand in line for hours at ATMs and banks to try to access their funds….. Read more>>
Ghana: Mistrust, instability will hinder AfCFTA’s free trade objective, says security chief
The Africa Report
Political instability in Africa heightened by the growing threat of terrorism and mistrust among nations will continue to slow the continent’s goal of free movement of persons and effective cross-border trade, says the national security coordinator of Ghana Edward Asomani….. Read more>>
Kenya’s central bank on the spot as lenders face dollar shortage
The East African
Kenyan commercial banks are running out of dollars on some days following a shortage of the US currency, making it difficult for manufacturers and general goods importers to meet their obligations….. Read more>>
IMF Temporarily Boots Fund Limits to Help Members Beat Crisis
BNN Bloomberg
The International Monetary Fund will temporarily increase funding limits for member nations to help them overcome current economic challenges. The annual limit under the fund’s General Resources Account will be raised to 200% of quota for a period of 12 months from the current 145%, the IMF said in a statement. Access to cumulative limits was revised to 600% from 435% now…. Read more>>
ICT
The 27 women impacting the ICT sector
Techcalbal
In celebration of the brilliant women building across Africa’s tech ecosystem, today’s edition will be a bit different. Instead of plain old news, we’ve worked with MTN Nigeria to curate a list of 27 women who have a background in ICT and about two decades of contributions in various capacities in the industry…. Read more>>
Microsoft Africa internet plan moves forward with fiber deal
Reuters
Microsoft Corp has reached a deal with Africa’s biggest independent fiber network toward its goal of expanding internet access on the continent, its President Brad Smith said… Read more>>
