Nightlife

Category: International

  • Ghana gets African and Global Spotlight

    Ghana gets African and Global Spotlight

    Story: Mohammed A. Abu

    The people of the West African nation of Ghana during the country’s 2024 elections, demonstrated their collective commitment towards the use of their thump power in the change of political administrations bolstered by the long established transition order of peaceful transfer of political power from one administration to another.

    Flashback

    Following the restoration of democratic governance in Ghana by a former military ruler J.J. Rawlings in 1992 became a civilian ruler under the forth Republic Constitution and was in power for two terms from 1992-1996.

    He was to lose power during the 2000 elections to former President J.A. Kufuor-led opposition, the New Patriotic Party(NPP). This marked a turning point in Ghana’s democratic governance-change of political power through the ballot box and transfer of political power from one political administration to another.

    Coming against this democratic political background, Former President John Dramani Mahama and her running mate, Jane Naana Opoku-Agyemang following their party, the National Democratic Congress(NDC)’s victory in the 2024 elections, were yesterday sworn in as the country’s new President and her first ever female Vice President respectively.

    The oath of allegiance and Presidential oaths were administered by Chief Justice Gertrude Torkornoo at the Black Star Square in the country’s capital city of Accra.

    President Mahama in his inaugural address, promised to focus on economic recovery, governance reforms, and accountability, called for a national reset to rebuild faith in Ghana’s institutions and leadership, introduction of a 24-hour economy model to create jobs and stimulate industries and strengthening of regional and international partnerships.

    He underscored the importance of tackling youth unemployment and gender equality celebrating Jane Naana Opoku-Agyemang’s historic role while also urging business leaders and entrepreneurs to join in building a business-friendly Ghana

    “I feel greatly honoured that Ghanaians deemed me worthy to steer the affairs of this country at this critical stage,” Mahama said, expressing gratitude for the trust placed in him by the electorate.

    President Mahama also recounted how far he and the outgoing President Nana Akoffu Addo have come together in their political careers that transcended into mutual respect for each other despite the fact that, they belong to two opposing political camps.

    He also praised the election campaign of former Vice President Dr. Mahmudu Bawumia while also acknowledging his early conceding of defeat that helped defuse political tension that was building up in the country.

    The Special Guest of Honour, President Tinubu of the Federal Republic of Nigeria wished President Mahama well in his national assignment the success of which he said was good for Nigeria, Ghana and Africa.

    He also assured President Mahama of his unwavering support towards his commitment to strengthening of regional partnerships. Which he noted was good for Nigeria, Ghana and Africa as a whole.

    External Patronage

    Africa

    The inauguration enjoyed patronage across the continent from the Western, Central, Eastern, Southern and Northern sub-regions. In attendance were over twenty-one sitting Presidents and former Presidents and Prime Ministers, representing their respective countries were at the ceremony.

    Also in attendance were the President of Africa’s premier bank, the African Development Bank(AfDB) and President of the ECOWAS Bank for Investment and Development.

    International

    Also in attendance were the Mayor of Los Angeles, US, Prime Minister of Haiti, former German Vice President, and high profile representatives from China, Japan, Arab Gulf region, Russia, and Israel were in attendance. Also in attendance were also Envoys from the AU, EU and UN.

    What to Expect?

    President John Dramani Mahama has outlined focus areas of his new administration in the first 10 days.

    In expectation are executive orders to address inflation, currency stabilization, and debt management, along with steps to review tax policies to ease the burden on businesses as economic stabilization measure, announcement of first wave of government appointments, including the Finance Minister, Attorney General, and other critical positions, focus on anti-corruption measures, empowering institutions to ensure transparency and recovery of public funds under an accountability drive, Presidential meeting with business leaders to reaffirm that Ghana is open for business and outline plans for a 24-hour economy,and the launching of job creation initiatives, with a focus on youth employment and entrepreneurship

    Cover Photo: Credit,Ghana Broadcasting Corporation(GBC)

  • ACEACRES,2024 Accra, in Pictures

    ACEACRES,2024 Accra, in Pictures

  • Kaspersky Predicts Artificial Intelligence (AI) and Privacy to Shape Consumer Cybersecurity Landscape in 2025

    Kaspersky Predicts Artificial Intelligence (AI) and Privacy to Shape Consumer Cybersecurity Landscape in 2025

    JOHANNESBURG, South Africa, December 4, 2024/ — According to Kaspersky’s (www.Kaspersky.co.za) latest report, artificial intelligence (AI) will become an integral part of daily life, while privacy concerns around biometric data and advanced technologies will take center stage in 2025. These forecasts are part of the annual Kaspersky Security Bulletin series, which provides an outlook on the cybersecurity trends and threats expected to impact consumers in the coming year.

    AI becomes an everyday reality

    AI is predicted to fully integrate into daily life in 2025, becoming a standard tool rather than a novel technology. With prominent operating systems like iOS and Android rolling out AI-enhanced features, people will increasingly rely on AI for communication, workflows, and creative tasks. However, this normalisation also brings challenges, particularly as personalised deepfakes become increasingly sophisticated in the absence of reliable detection tools.

    Privacy regulations will expand user data ownership

    The growing emphasis on privacy is expected to lead to new regulations that strengthen user control over personal data. By 2025, individuals may gain the right to monetise their data, transfer it easily across platforms, and benefit from simplified consent processes. Global frameworks, such as the EU’s GDPR, California’s CPRA and South Africa’s POPIA, continue to inspire reforms worldwide, while decentralised storage technologies could further strengthen user autonomy over their information.

    Fraudsters will continue to exploit premieres and releases

    Cybercriminals are expected to target prominent gaming, console, and film launches in 2025. Titles like Mafia: The Old Country, Civilization VII, and Death Stranding 2, as well as the anticipated Nintendo Switch 2, are likely to attract scams involving fake pre-orders, counterfeit rootkits, and malicious downloads. Similarly, blockbuster films like Superman and Jurassic World Rebirth may trigger phishing campaigns and counterfeit merchandise fraud aimed at enthusiastic fanbases.

    Political polarisation will fuel cyberbullying

    Increasing political polarisation is expected to exacerbate cyberbullying in 2025. Social media algorithms that amplify divisive content, combined with the widespread availability of AI tools for creating deep fakes and doctored posts, are likely to intensify online harassment. Cross-border cyberbullying could also escalate as global platforms facilitate the targeting of individuals based on their political beliefs.

    Rising number of subscription services will fuel fraud risks

    As the global economy shifts further towards subscription-based models, a rise in fraud related to fake subscription promotions is expected. Cybercriminals are expected to create counterfeit services that mimic legitimate platforms, aiming to deceive users into providing personal and financial information, resulting in identity theft and financial losses. Additionally, the growth of unofficial resources that provide discounted or free access to subscription services is expected to become a significant threat vector, exposing users to phishing attacks, malware, and data breaches.

    Prohibition of social media for children may lead to broader user restrictions

    Australia’s proposed legislation to ban social media access for children under 16 could set a global precedent. If implemented successfully, the restriction could pave the way for broader limitations on access for other demographics. Platforms like Instagram have already begun adopting AI-powered age-verification systems, signaling a shift toward stricter governance of online spaces.

    “As we look to 2025, the most significant impact on consumers is expected to arise from the intersection of innovation and regulation. Advances in AI, privacy protection, and data ownership frameworks will reshape the way people interact with technology and manage their digital lives. These developments hold immense potential but also demand careful oversight to ensure they serve consumer interests,” said Anna Larkina, Kaspersky privacy expert.

    To learn more, visit Securelist.com.

    To stay safe, Kaspersky experts also recommend:

    • Enable a safe browsing feature, such as the one in Kaspersky Premium (https://apo-opa.co/3BdtgPp), to help avoid Internet tracking. This feature also protects users from dangerous sites (like phishing ones), malware, and other maliciously installed files and extensions.
    • Configure your social networks for enhanced privacy to make a difference. Services such as Privacy Checker (https://Privacy.Kaspersky.com) can help users adjust privacy settings and strengthen the protection of their personal accounts. In addition, modern security solutions often include features that enhance privacy levels across various social networks.
    • Opt for secure and private connections. Avoid using public Wi-Fi networks for sensitive activities. Consider using a reliable VPN (https://apo-opa.co/3Bcqz0y) to encrypt your Internet connection and protect your online activities from being monitored.
    • Install apps only from official stores like the Apple App Store, Google Play or the Amazon Appstore. Although apps from these markets are not 100 percent failsafe, at least they are checked by store representatives, and a filtration system is in place – not every app is authorised for listing on these platforms.
    • Download a reliable security solution (https://apo-opa.co/3BdtgPp) to help you detect malicious apps and adware before they can harm your device.
    • Don’t share serial numbers, IP addresses and other sensitive information regarding your smart devices on social networks.
    • Avoid using unreliable passwords. Weak combinations, such as those consisting of letters only, do not offer sufficient protection. For added convenience and security, consider using a special app, such as the Kaspersky Password Manager (https://apo-opa.co/3OGpYHu).
    Distributed by APO Group on behalf of Kaspersky.

    For further information please contact:
    Nicole Allman
    INK&Co. (https://INKandCo.co.za)
    nicole@inkandco.co.za

  • COP29 ends with compromise on climate financing

    COP29 ends with compromise on climate financing

    The UN climate change conference ended on 24 November with a pledge from developed nations to contribute at least $300 billion annually to support adaptation.

    After two weeks of intense negotiations, delegates at COP29, formally the 29th Conference of Parties to the UN Framework Convention on Climate Change (UNFCCC), agreed to provide this funding annually, with an overall climate financing target to reach “at least $1.3 trillion by 2035”.

    This summit had been dubbed the ‘climate finance COP’, and representatives from all countries were seeking to establish a new, higher climate finance goal.

    The target, or new collective quantified goal (NCQG), will replace the existing $100 billion goal that is due to expire in 2025.

    Reacting to the outcome, UN Secretary-General António Guterres said that while an agreement at COP29 was absolutely essential to keep the 1.5-degree limit alive, “I had hoped for a more ambitious outcome – on both finance and mitigation – to meet the great challenge we face.”

    But he continued, this agreement provides a base on which to build and added: It must be honoured in full and on time. Commitments must quickly become cash. All countries must come together to ensure the top-end of this new goal is met.”

    Developing countries, which had sought over $1 trillion in assistance, said the pledge of financing was too little too late.

    The WMO delegation at COP29, headed by Secretary-General Celeste Saulo, highlighted the urgency of drastic reductions in greenhouse gas emissions – and more financing to build resilience, and in particular to strengthen early warning systems.

    According to WMO’s State of the Climate Update, the year 2024 is on track to be the hottest on record and temporarily hit 1.5°C. Greenhouse gas levels are at record observed levels. Sea level rise is accelerating, glacier retreat is unprecedented, and extreme weather events have caused major loss of life and livelihoods around the world.

    “The time for action is now,” said Celeste Saulo. “If you want a safer planet, it’s our responsibility. It’s a common responsibility, a global responsibility,” she said.

    The COP29 outcome is a gesture of support for the most vulnerable, said Celeste Saulo. But much more needs to be done.

    Celeste Saulo, WMO Secretary-General, at COP29
    Following on from COP29, WMO will prioritize accelerated action to strengthen global climate mitigation and adaptation, and reduce loss and damage. It will continue leveraging its State of the Climate reports to inform climate policy, finance, and action.

    Key focus areas include scaling up the Early Warnings for All initiative to ensure comprehensive early warning coverage, and advancing Global Greenhouse Gas Watch to improve monitoring and mitigation.

    Another priority is to close the gaps in Earth observations. These are necessary to inform both mitigation and adaptation, as was noted in the SBSTA Chair summary. WMO will take a similar approach to closing the gaps in Multi-Hazard Early Warning Systems.

    At COP29, additional contributions were announced to the United Nations Systematic Observations Financing Facility (SOFF) that is now capitalized with more than US $100 million to support countries in closing their basic weather and climate data gaps.

    A consolidated WMO strategy to support countries in updating Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs) to reflect these elements will be developed. A critical element will be positioning National Meteorological and Hydrological Services (NMHSs) as the authoritative voice of hydro-meteorological early warnings and central actors in driving science-based solutions, ensuring their enhanced role in implementing climate policies and strategies worldwide.

    Wide shot of the plenary hall at the UN climate conference, COP29, in Baku, Azerbaijan.
    UNFCCC/Kiara Worth
    Other steps forward at COP29 included:

    Countries agreed on the rules for a UN-backed global carbon market. This market will facilitate the trading of carbon credits, incentivizing countries to reduce emissions and invest in climate-friendly projects.

    They agreed to an extension of a programme centered on gender and climate change; and agreement on support for the least developed countries to carry out national adaptation plans.

    UN Climate Change Executive Secretary Simon Stiell described the new finance goal agreed at COP29 as “an insurance policy for humanity.”

    “This deal will keep the clean energy boom growing and protect billions of lives.  It will help all countries to share in the huge benefits of bold climate action: more jobs, stronger growth, cheaper and cleaner energy for all. But like any insurance policy – it only works – if the premiums are paid in full, and on time.”

    He acknowledged that no country got everything they wanted, and that the world leaves Baku with a mountain of work to do. “So, this is no time for victory laps. We need to set our sights and redouble our efforts on the road to Belém,” in the eastern Amazonian region of Brazil, which is set to host COP30 next year.

    Further reading:
    UNFCCC concluding press release
    COP29 website

    SOURCE

    UN NEWS

  • 5th Session of the Intergovernmental Negotiating Committee to Develop an International Legally Binding Instrument on Plastic Pollution, Including in the Marine Environment

    5th Session of the Intergovernmental Negotiating Committee to Develop an International Legally Binding Instrument on Plastic Pollution, Including in the Marine Environment

    In their last scheduled meeting to agree on treaty text to “end plastic pollution,” negotiators may base their discussions on a new non-paper by INC Chair Luis Vayas that builds on the common ground between countries.

    With seven days left to agree on a new treaty text on plastic pollution, Kim Wan Sup, Minister of Environment, Republic of Korea, set the stage for the final scheduled round of negotiations, stressing that “we must end plastic pollution before plastic pollution ends us.” As science continues to reveal the layers of impact due to the burden of plastic pollution, including to human health and the Earth’s ecosystems, this statement struck a chord with many delegates on the first day of the fifth session of the Intergovernmental Negotiating Committee (INC-5) to develop an international legally binding instrument (ILBI) on plastic pollution, including in the marine environment.

    In his opening remarks, INC Chair Luis Vayas Valdivieso (Ecuador) emphasized that adopting an agreement to end plastic pollution is possible at this meeting, and urged delegates to show “unwavering commitment, relentless effort, and bold political decisions.

    In a video message, President Yoon Suk Yeol, Republic of Korea, urged delegates to stand together in solidarity and muster the political will to reach agreement on an effective and implementable instrument covering the full plastic lifecycle.

    Also in a video message, Cho Tae Yul, Minister of Foreign Affairs, Republic of Korea, stated that his country is fully prepared to work toward a treaty that is actionable, grounded in scientific evidence, and adaptable to national contexts.

    Reminding delegates that this day marked 1000 days since the UN Environment Assembly (UNEA) adopted resolution 5/14 to end plastic pollution, Inger Andersen, Executive Director, UN Environment Programme, urged them to: work towards bringing the “gavel down” on an ambitious instrument providing the broad contours and strokes for further work; conclude negotiations quickly on provisions with respect to which there is considerable convergence; and use UNEA resolution 5/14 as a “guiding star” when addressing provisions on which significant work remains, concerning plastic products and chemicals, supply, and finance. Jyoti Mathur-Filipp, Executive Secretary, INC Secretariat, lauded the courage and determination shown by INC members over the past two years, and the strong community built together over this period.

    After getting assurances that the rule of procedure related to voting in the absence of consensus would not be invoked, delegates shared views on the mode of work, including the text to be used as a basis for negotiations.

    Several delegations announced that the Chair’s Non-Paper, which had been circulated in advance of the meeting, should not be used as a basis for discussions in its current form, calling instead for a revised version, reflecting submissions by states and emphasizing that this “is a state-driven process, and the compilation text reflects the views of states.” They also underlined the need to include separate articles related to the objective, scope, and principles governing the new treaty, which are absent from the Non-Paper.

    Many more states, however, supported the Non-Paper providing the basis for negotiations, noting that the text can be modified based on members’ additions through the negotiation process. Most states in this camp noted that the Non-Paper is not perfect, but expressed a willingness to use this “bridging text” as the basis for negotiating the new treaty in order to fulfil the Committee’s mandate to conclude treaty negotiations by the end of 2024, as stipulated in UNEA resolution 5/14.

    INC Chair Vayas emphasized that the Non-Paper is a starting point for deliberations, and not a final outcome, stressing that the text is bracketed in its entirety and does not prejudge member’s positions. Furthermore, he said that the compilation text will provide an authoritative reference and that all issues will receive equal attention.
    He clarified that members would be able to make additional submissions in the contact group discussions; and pointed to the role of the legal drafting group, which would streamline the text forwarded to it throughout the week. Delegates agreed to work on the basis of this proposal, and plenary was adjourned.
    In the evening, two contact groups convened:

    • Contact Group 2, co-chaired by Oliver Boachie (Ghana) and Tuulia Toikka (Finland), broadly addressing plastic waste management, emissions and releases, existing plastic pollution, including in the marine environment, and just transition; and
    • Contact Group 4, co-chaired by Han Min Young (Republic of Korea) and Linroy Christian (Antigua and Barbuda), opening considerations on implementation and compliance, national plans, reporting, monitoring of progress and effectiveness evaluation, information exchange, and awareness, education and research.
    • SOURCE(EARTH NEGOTIATIONS BULLETIN)
  • Brics+ countries are determined to trade in their own currencies – but can it work?

    Brics+ countries are determined to trade in their own currencies – but can it work?

    By:Academic Journalist,

    Associate Professor, China Studies Centre, University of Sydney

    The Conversation ,First Published,26th November,2024

    Photo(Brics Summit 2024)

    Brics+ countries are exploring how they can foster greater use of local currencies in their trade, instead of relying on a handful of major currencies, primarily the US dollar and the euro.

    The forum for cooperation among nine leading emerging economies – Brazil, China, Egypt, Ethiopia, India, Iran, Russian Federation, South Africa, United Arab Emirates – emphasised this determination at their 16th summit in October 2024.

    Economist Lauren Johnston recently wrote a paper on this development. The Conversation Africa asked her for her insights.

    Why do Brics+ countries want to trade in local currencies?

    There are economic and political reasons to use local currencies.

    Using local currencies to trade among themselves will lower the transaction costs and reduce these countries’ dependence on foreign currencies.

    Over the past few centuries, the world’s economy has developed in a way that makes certain currencies more valuable and widely trusted for international trade. These include the US dollar, the euro, the Japanese yen and the British pound. These currencies hold value around the world because they come from countries with strong economies and a long history of trading globally.

    When people or countries trade using these currencies and end up collecting or holding them, they consider it “safe” because the value of these currencies remains stable and they can be easily used or exchanged anywhere in the world.

    But for countries in the global south, like Ethiopia, whose currency (the birr) isn’t widely accepted outside its borders, trading is far more difficult. Yet these countries struggle to earn enough of the major currencies through exports to buy what they need on international markets and to repay their debts (which tend to be in those currencies). In turn, the necessity of trading in major currencies, or the inability to trade in them, can create challenges that slow down economic growth and development.

    Therefore, even some trade in local currencies between Brics+ members will support growth and development.

    Oil exporter Russia is a unique case. Though there are fewer foreign currency constraints overall, Russia faces extensive financial sanctions for its war of aggression against Ukraine. Using a variety of currencies in its foreign transactions may make it easier to get around these sanctions.

    Politically, the reasons for using other currencies primarily relates to freedom from sanctions.

    One of the tools for making sanctions work is an international payments systems known as Swift (Society for Worldwide Interbank Financial Telecommunication). Swift was founded in 1973 and is based in Belgium. It enables secure and standardised communication between financial institutions for international payments and transactions. And it’s almost the only way to do this.

    It was first used to impose financial sanctions on Iran in 2012, and has since been used to impose sanctions on Russia and North Korea.

    If a country is cut off from Swift, it faces disruptions in international trade and financial transactions, as banks struggle to process payments. This can lead to economic isolation and challenges in accessing global markets.

    The reality, and possibility, of exclusion from Swift’s payments system is one of the factors galvanising momentum towards a new payments system that also relies less on the currencies of the countries that govern Swift – like the euro, Japanese yen, British pound and US dollar.

    What are the likely challenges they will face?

    The Brics+ plan to use local currencies faces some hurdles.

    The central problem is the lack of demand for most currencies internationally. And it’s hard to supplant the international role of existing major currencies.

    If, for example, India accumulates Ethiopian birr, it can mainly only use them in trade with Ethiopia, and nowhere else. Or, if Russia allows India to buy oil in rupees, what will it do with those rupees?

    Since most countries seeking alternatives to dollar dependence tend to sell more than they buy from other countries, or are lower-income importers, they must consider what currencies to accumulate via trade.

    When it comes to payment systems, at least, alternatives are emerging.

    Brics+ is creating its own, Brics+ Clear. Some 160 countries have signed up to using the system. China also has its own, Cross-border Inter-bank Payment System, which broadly works the same way as Swift.

    There’s a risk, though, that these payment methods could merely fragment the system and make it even more costly and less efficient.

    Has trading in local currencies been done elsewhere?

    Not all trade is done in major western currencies.

    For example, in southern Africa, within the Southern African Customs Union, the South African rand plays a relatively important role in cross-border trade and finance. Just as in south-east Asia the currencies of Singapore and Thailand compete to be the dominant currency in the sub-region.

    China – the world’s biggest exporter and producer of industrialised goods – is also signing bilateral currency swap agreements with countries. The goal is greater use of the renminbi in the world.

    As a means of circumventing sanctions, India and Russia recently trialled using the rupee to trade. Russia’s oil exports to and through India have risen strongly since the Ukraine war and some 90% of that bilateral trade takes place in the rupee and rouble. This leaves Russia with a challenge – what to do with all the rupees it has accumulated. These deposits are sitting in Indian banks and being invested in local shares and other assets.

    Another example of efforts to side-step major international currencies is China’s model of “barter trade”. The model works like this: China exports, for instance, agricultural machinery to an African country and receives payment in that country’s currency. China then uses that currency to buy goods from the same country, which are then imported back to China. After these goods are sold in China, the Chinese trader is paid in renminbi.

    Ghana is one country involved in this barter model. Challenges facing the model include the digitisation of payments and trade, and trust – high levels are needed to establish and maintain relationships between trading parties as individuals and as businesses. It also requires some level of centralisation and coordination, but lacks strong laws, regulations and industry standards. This means that different platforms and enterprises may not be compatible, which can add to transaction time and costs.

    Another example is when Chinese investors in Ethiopia make profits in birr. They use these birr to buy Ethiopian goods, like coffee, and export the goods to China. In China, when they sell these goods, they receive renminbi. So they transfer their profits from Ethiopia to China by increasing Ethiopia’s exports to China.

    Anecdotal reports suggest this is feasible at a small scale but has relatively high coordination costs.

    There could be other challenges. For example, if Chinese buyers pay Ethiopian coffee farmers in their local currency, instead of US dollars, it could lead to fewer dollars being available overall. Some international transactions still rely heavily on dollars.

    How should Brics+ nations structure their arrangement?

    There is no simple, or easily scalable, solution to moving past the reliance on major international currencies or circumventing Swift.

    A fast, digital payment system is needed. This system would calculate and balance currency demand efficiently. It must also be reliable, replace parts of the current system, and not create extra costs for countries that aren’t using it yet.

    Although some Brics+ members, like Russia, may have more interest in fast-tracking change, this may be less in the interest of other Brics+ members. A move away from Swift, for instance, requires buy-in from local financial institutions, and those in African countries may not be under pressure to shift to a new lesser-known platform.

    Given these challenges, I argue that Brics+ should progress incrementally. What can happen soon, though, is to conduct some trade in local currency.

    SOURCE

    THE CONVERSATION

  • Africa: APO Group Chairman Nicolas Pompigne-Mognard to Share Insights on African Sports and Development at EurAfrican Forum 2024

    Africa: APO Group Chairman Nicolas Pompigne-Mognard to Share Insights on African Sports and Development at EurAfrican Forum 2024

    CASCAIS, Portugal, July 10, 2024/ — APO Group (www.APO-opa.com), the leading pan-African communications consultancy and press release distribution service, is glad to announce that its Founder and Chairman, Nicolas Pompigne-Mognard (www.Pompigne-Mognard.com), will be a guest speaker at the seventh edition of the EurAfrican Forum 2024 (www.EurAfricanForum.org).

    The event, organised by the Portuguese Diaspora Council, will take place at NOVA School of Business and Economics in Cascais, Portugal on 15 – 16 July 2024.

    Launched in 2018 and chaired by the former President of the European Commission and current Chair of the Board of Gavi, The Vaccine Alliance, Professor José Manuel Durão Barroso, the EurAfrican Forum is an action-oriented platform that seeks to strengthen collaboration between Europe and Africa.

    Previous editions of the EurAfrican Forum were attended by the Presidents of Ghana, Mozambique, and Angola, along with a diverse array of influential leaders, policymakers, and industry experts.

    Commenting on his participation, Pompigne-Mognard said, “I am honoured to join this distinguished forum and share insights on how the sports industry can be a catalyst for the growth of the continent.

    Sports go beyond entertainment. It is widely recognised by development actors as a catalyst and an enabler of human development and social good, offering opportunities for jobs and revenue generation through sponsorships, broadcasting rights, merchandise sales, venue management, tourism, infrastructure development, event management, hospitality services, sports technology, and fan engagement.

    Sports can also influence urban development by revitalising areas through the construction of stadiums and sports complexes, contributing to local economies.”

    Pompigne-Mognard serves on the Advisory Board of the World Football Summit.

    In June 2023, he was appointed as Special Advisor to the President of Rugby Africa, the governing body of rugby in Africa, to provide expert advice and guidance on specific issues and areas of responsibility related to rugby and matters of interest on the African continent.

    Pompigne-Mognard’s wholly-owned enterprise, APO Group, has been FIFA’s pan-African public relations agency for the past three years and serves as the pan-African public relations agency for the NBA and the Basketball Africa League. It also functions as the strategic partner of the Olympic Movement in Africa (ANOCA).

    From 2017 to 2022, APO Group held the position of Main Official Sponsor of Rugby Africa. In 2023, it advanced to become Rugby Africa’s official public relations partner and sport marketing agency. APO also sponsored Africa’s first-ever World Tour cycling team, NTT Pro Cycling, from 2020 to 2022, and the Lux Afrique Polo Day from 2019 to 2021.

    It maintains strategic partnerships with the International Press Sport Association (AIPS) and is the official partner of the OM Africa development programme of the renowned French football club, Olympique de Marseille.

    Recently, The Beast Foundation, a prominent sports and education programme established by former Springbok rugby legend and Rugby World Cup winner, Tendai Mtawarira (The Beast), selected APO Group as its exclusive public relations partner.

    Pompigne-Mognard was listed among the 100 Most Influential Africans in 2023.

    Other representatives from APO Group attending the EurAfrican Forum 2024 include João Marques, Director of Strategy, and Eleanor Legge-Bourke, Senior Growth Director.

    Distributed by APO Group on behalf of APO Group.

    Media contact:
    Marie@apo-opa.com

  • How Would a New BRICS Currency Affect the US Dollar? (Updated 2024)

    How Would a New BRICS Currency Affect the US Dollar? (Updated 2024)

    By:,First Published,July 8,2024

    The BRICS nations are interested in creating a new currency to compete with the US dollar, and recently announced plans for a blockchain-based payment system. Learn about the developments thus far and how investors can prepare for the possibility.

    The BRICS nations, originally composed of Brazil, Russia, India, China and South Africa, are looking to establish a new reserve currency backed by a basket of their respective currencies.

    The potential BRICS currency would allow these nations to assert their economic independence while competing with the existing international financial system. The current system is dominated by the US dollar, which accounts for about 90 percent of all currency trading. Until recently, nearly 100 percent of oil trading was conducted in US dollars; however, in 2023 one-fifth of oil trades were reportedly made using non-US dollar currencies.

    Central to this ongoing situation is the US trade war with China, as well as US sanctions on China and Russia. Should the BRICS nations establish a new reserve currency, it would likely significantly impact the US dollar, potentially leading to a decline in demand, or what’s known as de-dollarization. In turn, this would have implications for the United States and global economies.

    It’s still too early to predict when a BRICS currency will be released, but it’s a good time to look at the potential for a BRICS currency and its possible implications for investors.

    Why do the BRICS nations want to create a new currency?

    The BRICS nations have a slew of reasons for wanting to set up a new currency. Recent global financial challenges and aggressive US foreign policies have prompted the BRICS countries to explore the possibility. They want to better serve their own economic interests while reducing global dependence on the US dollar and the euro.

    When will a BRICS currency be released? There’s no definitive launch date as of yet, but the countries’ leaders have discussed the possibility at length. During the 14th BRICS Summit, held in mid-2022, Russian President Vladimir Putin said the BRICS countries plan to issue a “new global reserve currency,” and are ready to work openly with all fair trade partners.

  • Dubai’s tourism triumph: Issam Kazim on the strategy driving Brand Dubai

    Dubai’s tourism triumph: Issam Kazim on the strategy driving Brand Dubai

    Dubai’s tourism sector has been on a remarkable trajectory, marking an 11 per cent increase in international overnight visitors in Q1 2024, with 5.18 million visitors gracing the emirate’s shores.

    This surge follows a record-breaking year in 2023, where Dubai welcomed an unprecedented 17.15 million international overnight visitors, firmly establishing itself as a global tourism powerhouse.

    Dubai’s success story isn’t just confined to numbers; it’s a testament to the city’s diversified approach, tailored strategies, and activities across more than 80 markets.

    This approach has maintained Dubai’s status as the destination of choice for visitors worldwide, as evidenced by its recent recognition as the top spot in the Tripadvisor Travellers’ Choice Best of the Best 2024 awards for the third consecutive year.

    The success story doesn’t end here; Dubai International Airport (DXB) has recorded its busiest quarter in history, with an impressive 23 million guests passing through its terminals.

    We caught up with Issam Kazim, CEO of Dubai Corporation for Tourism & Commerce Marketing, at the recent ATM show, where he shared the strategies, innovations and vision that continue to drive Dubai’s success on the global stage.

    Tell us about Dubai’s tourism achievements in 2023 and what has been driving them.

    Dubai’s success is driven by visionary leadership, which keeps us on track and punctual. Our ambitious targets and goals push us to create the foundation for our successes.

    When we launched our strategy in 2014, we focused on moving beyond our traditionally strong markets to a more diversified approach.

    We are in a dynamic environment influenced by socioeconomic and geopolitical factors beyond our control. Therefore, we ensure our trade and markets remain active worldwide.

    If one market slows down, we can quickly pivot to others to compensate. This market-to-market perspective is crucial.

    We’ve transitioned from traditional marketing to a digital focus, becoming leaders in this space. Strong relationships with key global players help us leverage their know-how and continue our growth.

    Our targets — such as increasing visitor numbers, length of stay, spending, GDP contribution, and repeat visitation — were challenging but exciting to achieve.

    Today, Dubai enjoys a 25 per cent repeat visitation rate within 12 months, which we’re very proud of.

    This success is not just due to marketing campaigns but also the service delivered by both the private and public sectors.

    From the moment visitors board a flight to Dubai, through their stay, and until they leave, every touchpoint ensures a smooth, safe, and enjoyable experience.

    We’ve launched initiatives to showcase not just luxury but also Dubai’s culture, tradition, and affordability.

    This diversified market approach allows us to create bespoke campaigns for different demographics, working with key opinion leaders, influencers, and celebrities from Bollywood, Hollywood, Nollywood, and more.

    Are you exploring new markets?

    Yes, indeed, we are consistently exploring new markets, and sometimes we’re even delving into different segments within existing markets. This level of customisation allows us to tap into various demographics and segments of the market.

    For instance, some markets previously associated Dubai solely with luxury. However, there’s immense potential in showcasing the non-luxury aspects of Dubai. Even a three-star or four-star accommodation here can rival five-star experiences elsewhere in the world.

    We’ve been deliberate in incentivising investment in the three- and four-star sector, ensuring that while offering incentives, we maintain Dubai’s reputation for luxury and quality.

    Additionally, we keep a close eye on the routes opened up by flydubai and Emirates, identifying potential growth markets and aligning our marketing efforts accordingly.

    If there’s a positive response from a market, we explore opportunities for scheduled or charter flights, collaborating with Dubai World Central (DWC) to facilitate increased air traffic.

    Every step we take is meticulously planned and analysed, with a structured approach guiding our decisions. Collaboration between the public and private sectors ensures that we have the right visa policies and regulations in place to welcome visitors from diverse markets.

    Ultimately, our goal is to continue expanding Dubai’s reach and appeal to a global audience.

    How are you pushing to achieve the D33 economic agenda targets?

    Our tourism strategy now includes remote working opportunities and new visas, leading to more people relocating to Dubai. We’re the number one relocation destination and the top for remote working globally. We’ve also introduced a retirement visa.

    We’re attracting regional and global HQs to Dubai, leveraging our connectivity and visa policies.

    Free zones in the city make it easy for companies to operate here. We’re continuously meeting with the private sector to address their needs and implement new programmes, maintaining an entrepreneurial, startup spirit.

    How is sustainability incorporated into your agenda?

    Sustainability holds deep significance for us, rooted intrinsically in our cultural ethos. Originating from a desert landscape where resources were scarce,
    we’ve embraced a mindset of preservation, recognising the finite nature of our surroundings.

    This ethos permeates every facet of our endeavours, from tourism to urban development.

    Several initiatives underscore our commitment to sustainability. In the tourism sector, we’ve incentivised hotels to retrofit their properties to meet stringent sustainability standards.

    Additionally, we’ve made tools like carbon calculators readily available on our website to empower individuals and businesses to track and reduce their environmental footprint.

    On the regulatory front, we’re implementing stringent standards for new developments to ensure compliance with sustainability norms.

    In collaboration with the hospitality industry, we’ve witnessed the swift adoption of sustainable practices, such as eliminating single-use plastics in hotel rooms and investing in on-site bottling plants to reduce carbon emissions associated with bottled water transportation.

    Furthermore, our citywide infrastructure reflects our commitment to sustainability, with cooling stations and watering facilities installed in public spaces to promote sustainable living.

    Looking ahead, we remain steadfast in our sustainability efforts. Recently, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of the Executive Council of Dubai, launched Dubai Reef, the latest endeavour under the Dubai Can initiative.

    This project aims to enhance marine biodiversity and promote eco-tourism by introducing coral reefs into our waters.

    How do you see the GCC unified visa initiative boosting tourism?

    We’re continually focused on streamlining visa processes to enhance the ease of travel for tourists. Simplifying visa procedures not only facilitates my role in attracting more visitors but also enriches the overall tourism experience in Dubai.

    While proximity markets and those familiar with Dubai may find visa procedures manageable, attracting tourists from farther regions presents a unique challenge.

    For many potential visitors, Dubai may not rank as a top destination on their travel list due to limited awareness of the diverse offerings and experiences available here. The introduction of the GCC unified visa will play a pivotal role in changing this perception.

    By offering tourists the opportunity to explore multiple destinations within the GCC region with a single visa, Dubai becomes a more compelling choice for travellers seeking diverse experiences.

    This unified visa not only simplifies travel logistics but also highlights the interconnectedness of destinations within the GCC, making Dubai a gateway to a broader spectrum of experiences.

    As a result, tourists are more likely to view Dubai as a pivotal hub for their travels, encouraging repeat visits and extended stays.

    However, with the implementation of the GCC unified visa, the onus is on us and our stakeholders to showcase Dubai’s unique attractions and experiences effectively.

    What can we expect from Brand Dubai in terms of tourism?

    Dubai is always innovating. We’ve introduced cycling and hiking tracks, a Real Madrid World theme park, new hotels like One&Only’s first city resort and Siro Hotel, and numerous gastronomy offerings.

    Our Michelin Guide has grown, highlighting our culinary excellence, including three Green Star restaurants for sustainability.

    Hatta’s development, the new airport with a capacity of 260 million passengers, and the unified visa are all part of our efforts to enhance Dubai’s tourism.

    The unified visa will make it easier for tourists to explore the region, compelling them to visit Dubai and other nearby destinations.

    What can the world learn from Dubai’s leadership?

    Our leadership combines vision with commitment to delivery and execution. Sheikh Mohammed bin Rashid Al Maktoum, the Vice-President and Prime Minister of the UAE, and Ruler of Dubai, sets ambitious targets and ensures we monitor and communicate our progress transparently.

    This approach helped us rebound quickly from Covid-19, achieving record-breaking growth in 2023 and continuing into 2024.

    Our leadership’s accessibility and dedication to public service ensure we address stakeholders’ needs and work collaboratively. This mindset filters through every touchpoint of our organisation, fostering a culture of agility and responsiveness.

    I can say we are a startup at heart, always striving for what’s next.

    SOURCE

    GULF BUSINESS 

  • Carbon & Emissions Tech Sector Registers $2.7B In Q1 VC Investments – PitchBook Report

    Carbon & Emissions Tech Sector Registers $2.7B In Q1 VC Investments – PitchBook Report

    In 2023, the carbon and emissions technology sector showed remarkable resilience and growth, securing a record $17.7 billion in venture capital (VC) investments, according to an industry overview, published by financial data provider PitchBook’s Institutional Research Group.

    However, the VC deal value for Q1 2024 was $2.7 billion, marking the lowest quarterly value since Q1 2021. First quarters are usually slower that the following ones

    The 2024 Carbon & Emissions Tech Overview, reveals the latest trends, technological advancements, and market dynamics shaping the carbon and emissions tech landscape.

    The 2023 investments were spread across 1,133 deals, surpassing 2022, and highlighting the growing investor confidence and the critical importance of sustainable technologies in addressing climate change.

    While the figures do include more “emission-focused” technologies like lithium batteries, it is one of the most comprehensive when it comes to carbon tech.

    The technological landscape there is categorized into several key areas: Direct Air Capture (DAC), Point Source Carbon Capture, Biological Carbon Capture, Carbon Utilization, Carbon Accounting & Analytics, Voluntary Carbon Market (VCM) Infrastructure, and Carbon Fintech & Consumer Tech.

    These categories reflect the diverse approaches and innovative solutions being developed to tackle carbon emissions.

    Median pre-money valuations for companies remained stable, varying between $13.6 million and $15.0 million from 2021 to 2023. The Q1 2024 median deal size was $4.2 million, indicating continued investor interest.

    Exit activity in the sector peaked at $3.8 billion in 2021 but declined to $1.9 billion in 2023, reflecting overall market conditions and the cyclical nature of VC investments and exits.

    Key drivers of investment in carbon capture, utilization, and storage (CCUS) technologies include tax incentives, government funding, and market shifts towards high-integrity carbon credits.

    The report also details sector segmentation and investment trends, focusing on carbon tech, industry applications, built environment, and land use.

    As for the top VC investors in the carbon and emissions tech sector since 2018, these include Climate Capital, Lowercarbon Capital, and SOSV.

    A preview of the report is available here, while the full version can be found in the PitchBook platform.

    SOURCE

    CARBON HERALD