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Category: Sustainability

  • Breaking News !!!!!!!!-Daniel Kontie Resigns from Adom Group to Focus on Growing ACECN

    Breaking News !!!!!!!!-Daniel Kontie Resigns from Adom Group to Focus on Growing ACECN

    Mohammed A. Abu

    Daniel Kontie, the General Manager, Sales and Marketing of Ghana’s Construction industry giant, the Adom Group, has resigned his position.

    This was disclosed by Engr. Samuel Worwui, the CEO of GM Bamboo Eco-City Ltd in Accra, Saturday.

    The resignation of Mr. Kontie who also doubles as the CEO/Chief Administrator of Africa’s biggest Construction Industry Professionals Network, the Africa Continental Engineering & Construction Network(ACECN), Egnr. Worwui said, is to, enable him dedicate more time to serve the wider construction industry in order to rapidly transition the Conventional Construction Industry into a Low-Carbon Pathways – Sustainable Built Environment Industry

    Sir Daniel’s  Vision was clearly captured in his address during last year’s maiden “African Continental Sustainable Built Environment Industry Summit” (ACEACFMS 2023) hosted by ACECN in Partnership with the GM Bamboo Eco-City Ltd and numerous other public and private sectors partners and sponsors.

    His Vision is to find Critical, Vital, Lasting and Innovative Solutions to the Chronic Problems/Challenges/Deficits in The Built Environment Industry.

    This was the driving force behind his establishment of the Robust ACECEN WhatsApp group Platform including other Businesses, Partnerships and Collaborations for the transitioning of the conventional construction industry into the Sustainable Built Environment Industry.

    The main agenda of the ACECN Platform is to transition the conventional built environment into a Low-Carbon pathway – net zero carbon – “Sustainable built Environment industry”.

    Flashback

    Sir Daniels never minced words during last year’s maiden “African Continental Sustainable Built Environment Industry Summit” (ACEACFMS 2023) hosted by ACECN in collaboration with the GM Bamboo Eco-City Ltd and numerous other public and private sectors partners and sponsors.

    Declaring the ACEACFMS 2023 as event to to be held annually as it  came to a close, Sir Daniels had also earlier in his welcome address, underscored the important need for placing The African Built Environment in a position to transition from the current brown construction techniques to Green building technologies.

    “Like it or not, the reality is that, new trends are transforming the way the industry operates, from the design phase to the actual construction process, particularly at this time that the whole planet faces eminent dangers of climate change by virtue of our old industrial actions and inactions that has brought us to this global climate emergency situation.

    “Africans have always argued that Africa’s contribution to the current climate change catastrophe is insignificant compared to the West, that is true, however, what we fail to appreciate is that the problem was significantly created by the West but the solution lies in the hands of Africa and this is another 21st century industrial revolution for Africa to take advantage of” Sir Daniels had also intimated.

     

     

  • African Energy Week (AEW) Launches African Energy Finance Summit in Partnership with Afreximbank and S&P Global Commodity Insights

    African Energy Week (AEW) Launches African Energy Finance Summit in Partnership with Afreximbank and S&P Global Commodity Insights

    JOHANNESBURG, South Africa, February 28, 2024/ — Africa’s largest energy event – the African Energy Week (AEW): Invest in African Energy conference – will feature the African Energy Finance Summit during this year’s edition in Cape Town.
    The summit, hosted in partnership with multilateral financial institution the African Export-Import Bank and S&P Global Commodity Insights, offers a platform for project developers and financiers to sign deals and is poised to unlock a new era of growth across Africa’s oil, gas, critical mineral and renewable energy sectors.

    Africa requires over $200 billion in annual financing until 2030 to meet the Sustainable Africa Scenario’s energy and climate objectives, highlighting a growing opportunity for project developers, financiers and technology providers. Between 2012 and 2021, the continent received an average $35 billion in annual finance from G20 nations and multilateral development banks, underscoring a significant investment gap.

    The African Energy Finance Summit aims to address this gap by galvanizing financial support for African energy growth alongside intra-African energy trade and a just energy transition.

    AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

    The development of oil and gas has taken the forefront of many national development agendas in Africa, as countries move to monetize resources to make energy poverty history by 2030. In addition to expansion efforts across established oil and gas markets such as Angola, Nigeria, Algeria and Egypt, new frontiers are being revealed as discoveries showcase high-impact deposits.

    In the last two years, Namibia made eight hydrocarbon discoveries in the Orange Basin, with reserves estimated to be as much as 11 billion barrels. Other discoveries such as the 20 trillion cubic feet (tcf) Yakaar-Teranga discovery in Senegal; the Orca find in Mauritania; the 650 billion cubic feet Eban-Akoma Complex find in Ghana; the Mukuyu-2 gas discovery in Zimbabwe and many more underscore the potential for million-dollar upstream investments in Africa.

    Meanwhile, Africa is poised to be at the forefront of the global energy transition due to its critical mineral wealth. The continent has 85% of the world’s manganese resources; 80% of the world’s platinum and chromium; 47% of the world’s cobalt; 21% of the world’s graphite, among many other resources.

    Investment in this industry will support both economic growth in Africa through revenue generation and infrastructure development as well as the world’s transition to a cleaner energy future. Projects such as Namibia’s Eisenberg Rare Earth Minerals project; the DRC’s Metalkol RTR mine; Zimbabwe’s Bikita Lithium Mine; and many more represent some of the largest in the world.

    Meanwhile, Africa’s hydropower potential is estimated at 340 GW; it’s wind potential is estimated at 180,000 TWh per year; while the continent owns approximately 40% of the globe’s potential for solar power generation.

    Yet, only 11% of Africa’s hydropower is currently being exploited while the continent accounts for 1.48% of the world’s total solar capacity, highlighting lucrative opportunities for clean energy project developers.
    Policies such as South Africa’s Renewable Energy Independent Power Producer program pave the way for increased private capital in renewable energy while efforts to develop large-scale green hydrogen projects in Namibia and Mauritania are poised to transform the continent.

    The African Energy Finance Summit will not only showcase these emerging opportunities but connect the relevant investors to the projects themselves. By uniting global banking institutions, financial ministers and authorities, and international development platforms, the summit will see numerous deals signs that will further accelerate project growth in Africa.

    At the same time, the summit promotes the need for integration across the finance and energy sectors, demonstrating the benefit and opportunity of industries working hand-in-hand to create attractive environments to do business.

    Across the continent, efforts are already well underway to attract energy investment through policy reform. Energy majors Total Energies and Shell are planning $6 billion and $5 billion in investment, respectively, in Nigeria over the coming years, owing largely to improved fiscal and monetary terms implemented through the Petroleum Industry Act (2021).

    In Angola, Total Energies announced a multi-year strategy including the $850 million Begonia oil development while ExxonMobil is looking at investing $15 billion in the country. These commitments are as a result of improved upstream terms that encourage exploration and development spending.

    Going forward, the finance sector will continue to be key to improving an enabling environment for energy investment. Through forex, tariff and regulatory support, the finance sector will make it easier to do business in Africa, enabling the continent to benefit from its wealth of natural and mineral resources.

    The African Energy Finance Summit will unite the finance and energy sectors to drive new opportunities across the continent.
    Distributed by APO Group on behalf of African Energy Chamber.

    SOURCE
    African Energy Chamber

  • Africa needs China for its digital development – but at what price?

    Africa needs China for its digital development – but at what price?

    Author: Stephanie

    PhD Candidate, University di Bologna

    First Published: February 27, 2024 4.08pm SAST

    Digital technologies have many potential benefits for people in African countries. They can support the delivery of healthcare services, promote access to education and lifelong learning, and enhance financial inclusion.

    But there are obstacles to realizing these benefits. The backbone infrastructure needed to connect communities is missing in places. Technology and finance are lacking too.

    In 2023, only 83% of the population of sub-Saharan Africa was covered by at least a 3G mobile network. In all other regions the coverage was more than 95%.

    In the same year, less than half of Africa’s population had an active mobile broadband subscription, lagging behind Arab states (75%) and the Asia-Pacific region (88%).

    Therefore, Africans made up a substantial share of the estimated 2.6 billion people globally who remained offline in 2023.

    A key partner in Africa in unclogging this bottleneck is China. Several African countries depend on China as their main technology provider and sponsor of large digital infrastructural projects.

    This relationship is the subject of a study I published recently. The study showed that at least 38 countries worked closely with Chinese companies to advance their domestic fibre-optic network and data centre infrastructure or their technological know-how.

    China’s involvement was critical as African countries made great strides in digital development. Despite the persisting digital divide between Africa and other regions, 3G network coverage increased from 22% to 83% between 2010 and 2023. Active mobile broadband subscriptions increased from less than 2% in 2010 to 48% in 2023.

    For governments, however, there is a risk that foreign-driven digital development will keep existing dependence structures in place.

    Reasons for dependence on foreign technology and finance

    The global market for information and communication technology (ICT) infrastructure is controlled by a handful of producers. For instance, the main suppliers of fibre-optic cables, a network component that enables high-speed internet, are China-based Huawei and ZTE and the Swedish company Ericsson.

    Many African countries, with limited internal revenues, can’t afford these network components. Infrastructure investments depend on foreign finance, including concessional loans, commercial credits, or public-private partnerships. These may also influence a state’s choice of infrastructure provider.

    The African continent’s terrain adds to the technological and financial difficulties. Vast lands and challenging topographies make the roll-out of infrastructure very expensive. Private investors avoid sparsely populated areas because it doesn’t pay them to deliver a service there.

    Landlocked states depend on the infrastructure and goodwill of coastal countries to connect to international fibre-optic landing stations.

    A full-package solution

    It is sometimes assumed that African leaders choose Chinese providers because they offer the cheapest technology. Anecdotal evidence suggests otherwise. Chinese contractors are attractive partners because they can offer full-package solutions that include finance.

    Under the so-called “EPC+F” (Engineer, Procure, Construct + Fund/Finance) scheme, Chinese companies like Huawei and ZTE oversee the engineering, procurement and construction while Chinese banks provide state-backed finance. Angola, Uganda and Zambia are just some of the countries which seem to have benefited from this type of deal.

    All-round solutions like this appeal to African countries.

    What is in it for China?

    As part of its “go-global” strategy, the Chinese government encourages Chinese companies to invest and operate overseas. The government offers financial backing and expects companies to raise the global competitiveness of Chinese products and the national economy.

    In the long term, Beijing seeks to establish and promote Chinese digital standards and norms. Research partnerships and training opportunities expose a growing number of students to Chinese technology.

    The Chinese government’s expectation is that mobile applications and startups in Africa will increasingly reflect Beijing’s technological and ideological principles. That includes China’s interpretation of human rights, data privacy and freedom of speech.

    This aligns with the vision of China’s “Digital Silk Road”, which complements its Belt and Road Initiative, creating new trade routes.

    In the digital realm, the goal is technological primacy and greater autonomy from western suppliers. The government is striving for a more Sino-centric global digital order. Infrastructure investments and training partnerships in African countries offer a starting point.

    Long-term implications

    From a technological perspective, over-reliance on a single infrastructure supplier makes the client state more vulnerable. When a customer depends heavily on a particular supplier, it’s difficult and costly to switch to a different provider. African countries could become locked into the Chinese digital ecosystem.

    Researchers like Arthur Gwagwa from the Ethics Institute at Utrecht University (Netherlands) believe that China’s export of critical infrastructure components will enable military and industrial espionage. These claims assert that Chinese-made equipment is designed in a way that could facilitate cyber-attacks.

    Human Rights Watch, an international NGO that conducts research and advocacy on human rights, has raised concerns that Chinese infrastructure increases the risk of technology-enabled authoritarianism.

    In particular, Huawei has been accused of colluding with governments to spy on political opponents in Uganda and Zambia. Huawei has denied the allegations.

    The way forward

    Chinese involvement provides a rapid path to digital progress for African nations. It also exposes African states to the risk of long-term dependence. The remedy is to diversify infrastructure supply, training opportunities and partnerships.

    There is also a need to call for interoperability in international forums such as the International Telecommunications Union, a UN agency responsible for issues related to information and communication technologies.

    Interoperability allows a product or system to interact with other products and systems. It means clients can buy technological components from different providers and switch to other technological solutions. It favours market competition and higher quality solutions by preventing users from being locked in to one vendor.

    Finally, in the long term African countries should produce their own infrastructure and become less dependent.

    SOURCE

    The Conversation 

     

  • Global Black Impact Summit (GBIS) 2024 to Prepare Youth for Excellence, Leadership Roles

    Global Black Impact Summit (GBIS) 2024 to Prepare Youth for Excellence, Leadership Roles

    DUBAI, United Arab Emirates, February 23, 2024/ — Empowering youth with strong leadership skills is paramount to cultivating a generation of leaders who are capable of driving change and fostering inclusivity.
    In the midst of a rapidly shifting global economy – characterized by evolving consumer preferences and an embrace of digital innovations – there is a need to prioritize access to education, skill development and competency building in a way that accounts for a dynamic future.

    The upcoming Global Black Impact Summit (GBIS) – taking place on Tuesday, February 27 in Dubai – will host a dedicated panel discussion on the role of youth in shaping global dynamics and building a more resilient future. The panel – Nurturing Future Leaders: Empowering Black Youth for Excellence – features high-level speakers from across education and business sectors, who will share insights into the pivotal role of modern education in economic advancement and wealth creation for the next generation.

    GBIS – hosted by the Black Impact Foundation and organized by Energy Capital and Power – is an annual event that celebrates the achievements of the Black community, promotes excellence, and explores untapped potential across various fields. This year’s summit – taking place on February 27, 2024, in Dubai – is set to be a transformative experience, featuring influential speakers, engaging panel discussions and networking opportunities. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

    Icons such as Nelson Mandela and Malcolm X have long-served as advocates for policies championing inclusivity, diversity and social equity, particularly among underserved populations. While their legacies continue to inspire resilience and empowerment within the global community, the imperative now lies in equipping today’s youth with the social education and mindset to effect transformative change. The GBIS panel will explore strategies and initiatives aimed at building confidence, resilience and leadership skills in young individuals.

    On the entrepreneurial front, business leaders including Pravini Baboeram, Co-Founder of 7th Gen Creatives, Lashai Ben Salmi, Co-Founder of Hallyu Con, and Tray Sean Ben Salmi, Founder of Influencer Publishing & Financial Education for Teens, will serve as speakers on the panel, instilling ambition among aspiring entrepreneurs and business owners. In this regard, GBIS 2024 will shed light on the role of mentorship and positive role models in unlocking the full potential of the next generation.

    Taking place under the theme, Black Excellence: Unleashing the Unexplored Potential for Global Unity, GBIS 2024 aims to foster connections among individuals and business leaders not only within the Black community, but worldwide. The summit serves as a unique, multisectoral platform that seeks to establish best practices for driving the next generation forward, while celebrating diversity, excellence and innovation in the process.

    Distributed by APO Group on behalf of Energy Capital & Power.

    SOURCE
    Energy Capital & Power

  • President Ramkalawan pledges the commitment of Seychelles to ensure Sustainable Tourism

    President Ramkalawan pledges the commitment of Seychelles to ensure Sustainable Tourism

    Dubai, 13th February 2024: The President of the Republic, Mr. Wavel Ramkalawan joined several other world leaders at the World Governments Summit (WGS) 2024 currently being held in Dubai where he delivered his main address focussing on Seychelles’ Initiatives and Approaches to Ensure Sustainable Tourism and Balancing Preservation.

    In his address to world leaders at the event, the Head of State underlined the pivotal role that Seychelles is playing in conservation, implementing various initiatives to promote sustainable tourism and safeguarding the nation’s ecological balance and economic well-being. He touched upon the Blue Economy, Seychelles Sustainable Tourism Label (SSTL), renewable energy sources and community involvement among other important initiatives.

    “Central to Seychelles’ approach is its commitment to the Blue Economy, which includes designating a significant portion of the country’s marine territory as protected areas, including marine parks and reserves. These efforts are crucial in preserving biodiversity and safeguarding marine ecosystems for future generations.

    Furthermore, Seychelles has established the Seychelles Sustainable Tourism Label (SSTL), a certification program that recognises tourism accommodations, operators, and services adhering to sustainable practices such as efficient waste management, energy conservation, and community engagement,” said President Ramkalawan.

    He continued, “In its endeavour to reduce reliance on fossil fuels and mitigate environmental impacts, Seychelles has invested in renewable energy sources like solar and wind power. These initiatives not only contribute to reducing carbon emissions but also promote a more sustainable approach to tourism activities.

    Seychelles also emphasises community involvement and empowerment in tourism development, encouraging local participation in decision-making processes and implementing community-based tourism projects to ensure that communities benefit from tourism revenue.”

    The President also spoke about the significant strides that Seychelles has made in protecting its unique biodiversity through habitat restoration, invasive species control, and species protection programs, “Through such conservation efforts, Seychelles has achieved an enviable record of protecting 30% of its marine territory and 50% of its landmass.

    The nation has also implemented environmentally conscious policies such as banning single-use plastics and plastic straws, promoting glass recycling, and conducting regular beach cleaning exercises,” he said.

    The President also remarked that the Seychelles Government had imposed moratoriums on large hotel developments and temporary restrictions on room numbers on certain islands to ensure that future developments align with sustainability goals.

    In regards to cultural tourism, President Ramkalawan spoke about Seychelles’ initiative through the Creole Rendezvous brand, which offers visitors immersive experiences to appreciate the local culture.

    “Preserving and promoting Seychellois culture and heritage are integral to future development plans. Incorporating vernacular architectural styles, supporting local arts and crafts, and integrating cultural activities into urban planning are key components of sustainable development. Furthermore, environmental education and awareness among tourists and locals are key priorities for Seychelles, fostering a culture of sustainability and responsible tourism,” underlined the Head of State.

    In its pursuit of sustainable development, President Ramkalawan said that Seychelles is investing in green projects across the islands, including eco-friendly buildings, renewable energy systems, waste management facilities, and smart technology solutions for infrastructure management and resource efficiency.

    Regarding International Corporations and partnerships, the President further emphasized the need for the adoption of a Multidimensional Vulnerability Index (MVI) for Small Island Developing States (SIDS) and vulnerable countries.

    He also spoke about Seychelles’ collaboration with the United Nations World Tourism Organization (UNWTO) on the Tourism Satellite Account (TSA) project, which has been instrumental in understanding the industry’s contribution to GDP, employment, and foreign exchange earnings.

    He noted that through this collaboration, Seychelles’ objectives are to align tourism strategies with sustainable development goals and accurately assess the economic benefits of tourism.

    To conclude, President Ramkalawan reiterated Seychelles’ commitment by focusing on sustainable governance, fostering international collaboration, and championing innovation. “Seychelles remains steadfast in its commitment to ensuring sustainable tourism practices that balance the preservation of natural resources with the economic benefits of tourism.

    Through international cooperation, community involvement, and innovative initiatives, Seychelles aims to advance its island development objectives, build resilience against environmental challenges, and foster inclusive and equitable economic growth,” he said.

    There were other main addresses by distinguished world leaders, including the President of the Republic of Madagascar, H.E. Andry Rajoelina, President of the Republic of Mauritius, H.E Mr. Pritvirajsingh Roopun, GCSK, and from the President of the Republic of Maldives, H.E. Dr. Mohamed Muizzu.

    SOURCE

    State House News

  • Honouring of Africa’s finest Technocrats by Inter.Interdisciplinary Innovation Centre Of Life

    Honouring of Africa’s finest Technocrats by Inter.Interdisciplinary Innovation Centre Of Life

     

    J.B. Worlanyo Nana-Atoo certificate
    H.E. Amb, J.B. Worlanyo Nana-Atoo, an Executive Chairman & President /Founder of EL-Ecojay developments Group LTD Ghana, Africa/global,has been awarded a Certificate of recognition by International Interdisciplinary Innovation Centre Of Life “Alliance of the peoples of the world”

    He is Unique, Versatile, Adaptable, and Capable of navigating Challenge with a Balance approach well rounded successful life and International Life Coach, Mentor and Public speaker in personal development.as one of the global Cooperate Business Mogul on investment on Projects financial Advisor and Management Consultant.

    Erstwhile as once a member of parliamentary Christian fellowship and Coordinating and operating through the system of AU, UN, European union Parliamentary for Federations of Global Christian Leaders on. Diplomatic peaceful Mission.

    He has a Construction Engineering background, with key leadership and strategic experience: In his role as operations director of building/Construction site and survey practice Engineering.

    He has a certificate in Drilling Rig Engineering field from good Will international group Inc USA Oil and Gas and also trained  at management and development productivity institute. Certificate (MDPI) Ghana. He is a product of world changers international leaders Training for fellowship of ministers USA.

    Recognition Certificate of the Intergovernmental Organisation

    IPAOW: International Interdisciplinary Innovation Center of Life.”Alliance of the people of the World. Russia / Israel Federation.UNASDG-IGO United Nations of Alliance Sustainable Development Goals,  Intergovernmental  organisation,UK

    He has also gained appointment as Africa Diaspora President of Oil and gas from Community Center Development Council aka: Community Center International Abuja-Nigeria.

    He is Africa representative of Grayson Range Extender power Electric Vehicles (GRE) USA,a Consultant of Ethos Asset Management USA.J&K group LLC SSP Energy system.USA.

    He is Nominated/Appointed by intergovernmental Affairs of SOAD, as Roving Ambassador for the state of Africa Diaspora of Eco 6 Six Region of Africa, USA, Caribbean, Europe, ASIA, was birthed by AU government and Recognised  by UN on development purposes .

    He is Ambassador, at large Empire of King David kingdom from Jerusalem Israel, Honorary International Media personality Certificate from John Terence media partnership with international kingdom university, Nigeria/USA.

    He is a Member of Africa-Israel initiatives branch in Ghana.an Associate partner with IMCI + alliance (division international GmbH ) LLC. Switzerland/USA and Broker/Consultant, Global finance capital, Hong Kong, Asia.

    An Astute international business Entrepreneur and Executive Chairman/President of EL-Ecojay developments Group Inc, Global Consultant. Specialist in business management Oil and Gas, Real  Estates, Commodities and Infrastructure Projects Holdings for Investment portfolio and development Services.

    Cooperate projects on investment and finance, Private Equity, JV, SPV, PPP, BOOT , EPC+Finance.for investment purposes on project seeking for funding. Private and government.eg, Africa Union and  global network for sustainable development goals. He is also an Economics Professor, Jeffrey Sachs master Class Online School. UN Advisor and global leader in Sustainable development.

    He is a good business strategist international developer who have worked with many years of experienced in Hotel and Tourism Hospitality industry, a Former Special assistant Manager of Frank David, Hotel. SSNIT Guest House, State Banqueting Hall protocol department and Golden Tulip in the earlier 90’s. He also has over 25 years of experience in Construction industries, Real Estate as Managing Director.

    He Can work under any conditions of any Climate changes of Economic and Sustainable development goal (SDG) of UN projects bringing  on board, rich leadership experience and build good and long-term relationship with Cooperate bodies Globally.

    SOURCE

    Mount Kenyan Times

  • From COP28 to a circular world: Investments need to focus on the circular economy alongside renewables

    From COP28 to a circular world: Investments need to focus on the circular economy alongside renewables

    In the wake of COP28, which called upon parties to transition away from fossil fuels, the World Circular Economy Forum 2024 (WCEF2024) emerges as a landmark event that highlights the circular economy as the premier post-fossil fuel investment frontier. WCEF2024 will take place in Brussels, Belgium from 15-18 April, and convenes thousands of experts to explore the vast opportunities that the circular economy presents.

    HELSINKI, 24 January 2024 – The transition from fossil fuels to renewables is imperative, yet alongside this, a strong focus on circularity is also needed. This means we must commit to manage all materials more sustainably, reducing dependence on fragile supply chains and alleviating pressure on nature.

    The opportunities in the circular economy are enormous. According to Circle Economy Foundation’s global “Circularity Gap Report 2024” which was published today, the global economy is currently only 7.2% circular, emphasising the untapped economic potential in this transformational shift.

    “We are convinced that the next big play in the investment arena we’ll see is around circular solutions,” states Atte Jääskeläinen, president of the Finnish Innovation Fund Sitra, the initiator of WCEF. “Regulations are essential for steering investment flows towards circularity, which is crucial for the sustainable development of societies. This shift is necessary to tackle overconsumption of natural resources.”

    This year, the landmark event of the circular economy underlines the world’s extraordinary opportunities after the decisions made in the UN’s Climate Change Conference COP28 in Dubai last December. The final outcomes of COP28 noted circular economy approaches as a tool in the transition to sustainable patterns of consumption and production.

    The co-chair of the UN’s International Resource Panel (IRP) Janez Potočnik notes that it is possible to mitigate growth in resource use while growing the economy, reducing inequality, improving well-being, and significantly reducing environmental impacts. “Our economic system is wasteful and unjust. Material (over)use is a main element of global sustainability and equality challenges deserving proper policy attention.”

    Initial findings of the IRP’s upcoming flagship report, the “Global Resources Outlook 2024”, show the undeniable need for a circular economy: The use of new (virgin) materials has continued to grow on average over 2.3 per cent per year. Without urgent and concerted action to change the way resources are used, material resource extraction could increase by almost 60 per cent from current levels by 2060, from 100 to 160 billion tonnes.

    “After decisions made in the COP28, there is plenty of room for wiser, circular solutions among global systems – for example in agrifood, mobility and consumables”, says Ivonne Bojoh, CEO of Circle Economy Foundation. “We must reform our finance and labour policies to put in place lasting and impactful changes that address the root cause of climate change and social inequity.”

    The World Circular Economy Forum WCEF is a global initiative of Finland and Sitra. This year marks the 8th iteration of WCEF. As a collaboration platform for circular economy thinkers and doers from all over the world, the forum strengthens its science-based approach through new partnerships with the International Resource Panel (as a science partner) and Circle Economy Foundation (as a programme partner). WCEF2024 is organised also in collaboration with several other international partners.

    In addition to showcasing solutions from around the world, WCEF2024 offers plenaries, parallel sessions and hands-on workshops. The forum also collaborates with two major players in Brussels: the European Circular Economy Stakeholder Platform who delivers a European track to the main event, and the Belgian Presidency of the Council of the European Union who curates a full day of accelerator sessions on 17 April, including site visits to circular economy companies in Belgium.
    If you are interested in learning more about the event and taking action to build a sustainable, circular future, please visit the WCEF2024 website.

    Further information on the event

    Mika Sulkinoja, Project Director of WCEF, Finnish Innovation Fund Sitra, mika.sulkinoja@sitra.fi, tel. +358 50 357 1723

    Rebecca Nohl, Sherpa to Janez Potočnik (co-chair of IRP), Systemiq, rebecca.nohl@systemiq.earth

    Ilektra Kouloumpi, Senior Innovation and Global Alliances Lead, Circle Economy Foundation, ilektra@circle-economy.com

    Media contacts

    Samuli Laita, Media liaison of the WCEF, Sitra, the Finnish Innovation Fund, samuli.laita@sitra.fi, tel. +358 40 5368650

    Amy Kummetha, Communications Manager, Circle Economy Foundation, amy@circle-economy.com

    Media accreditation, the media kit and online briefing

    Accreditation for media participants is open. Please find the registration form as well as the media kit at www.wcef2024.com/media.

    An online media briefing will be held for journalists on 8 April from 14:00 (CEST). To register, please follow the WCEF2024’s media website and subscribe to the newsletter!

  • Ghana wants to make importing food like rice and tomatoes more costly: expert explains why it’s a bad idea

    Published: January 22, 2024 4.19pm SAST

    Associate Professor, Agri-Food Trade and Policy, University of Guelph

    Ghana, like many other developing nations, relies heavily on imports of food and consumer goods to feed its population. For instance, Ghana imports 55% of the rice that is consumed locally. The country’s import dependence is primarily a consequence of the production of low-value primary products without substantial value addition.

    To forestall over-dependence on foreign goods, the government has proposed a trade restrictive policy via a legislative instrument on 22 major items. It has justified the policy on the grounds that it wants to reduce Ghana’s dependence on foreign goods by making locally produced goods more attractive from a price perspective. In turn, the idea is that this will drive up domestic production.

    The list of items includes essential food products such as rice, offal, poultry, cooking oil, fruit juices, noodles and pasta, fish, sugar and canned tomatoes. All are commonly consumed in most Ghanaian households.

    But imposing constraints on these food items has the potential to escalate food prices, as set out in my recent paper, prompting concerns about potential threats to food security. Restricting imports without ensuring high-quality and competitive domestic products will not lead to consumer preference for locally made goods. What Ghana’s industries need are fewer production constraints and more incentives to compete domestically.

    Opposition to the instrument

    Opposition to the proposal emerged from various quarters, including civil society organisations, trade associations and the minority in parliament.

    Opponents of the proposed policy contended that its restrictive nature would lead to severe economic and food security repercussions for Ghana. They argued that domestic producers might struggle to meet local demand for the specific items the government aims to restrict. For example, 90% of Ghana’s total poultry consumption relies on imports.

    The government consequently suspended the proposed mechanism in December 2023 for broader consultation.

    The reasons

    The ministry wanted the restriction for two main reasons.

    First, to curb the depreciation of the Ghanaian cedi. A surge in imports of the products in question increased the demand for US dollars, putting pressure on the local currency. In 2022, Ghana imported food products and related goods worth an estimated US$2.6 billion.

    Second, the aim was to foster industrialisation in Ghana. According to the ministry, import restriction was a strategy to reduce competition for local producers, fostering increased local production and making Ghana less reliant on foreign countries to meet domestic demand.

    But there are a number of concerns about the potential impacts of the proposed restrictions. Among them are food security, government revenue, trade distortions, and the cost of doing business.

    The likely impact

    Food insecurity: Data from the Food and Agriculture Organization shows that there were 21 million severely food-insecure individuals in 2021. Constraints on imports of commonly consumed foods, leading to scarcity and thus an increase in food prices, would reduce food security further.

    Producers might benefit from selling at higher prices but consumers would not.

    Revenue loss: There is the potential for revenue loss, particularly from customs and import duties. Many developing countries, including Ghana, depend heavily on import duties for government revenue. Recent statistics from the World Bank’s World Development Indicators for 2020 indicate that customs and import duties accounted for 12.4% of Ghana’s tax revenue.

    Trade rules: Ghana is a member of the World Trade Organization (WTO), which expects countries to align their trade policies with the relevant globally agreed provisions and rules.

    The WTO allows a member country to set conditions for importing certain products. This is known as import licensing. But the WTO stipulates that import licensing should not distort and impede trade.

    Ghana may face retaliation from other countries if the restrictions harm their interests.

    Take import licensing. This is an administrative procedure requiring the submission of an application or other documentation (other than those required for customs purposes) to the relevant administrative body as a prior condition for importation of goods. This is permissible under WTO rules. But challenges arise in its implementation, particularly the allocation of quotas. Successful implementation requires thorough consultation with importers and importing countries.

    The initial opposition within Ghana suggests a lack of serious consultation by the government.

    Import licensing can introduce rent-seeking activities in a country like Ghana. Establishing a committee to grant licences to importers opens avenues for bribery and corruption. Transparency International and the World Bank rank Ghana higher in the corruption index than other developing countries.

    For instance, the World Bank Enterprise Survey indicates a high percentage of firms in Ghana are expected to pay bribes to obtain licences, government contracts and business permits. When businesses resort to bribery, it leads to inefficiency and a higher cost of conducting business.

    The answers

    Restraining imports without alternative domestic production and supply mechanisms is economically unsound. Policies that drive industrialisation and position Ghana as a net exporter are needed.

    That’s not happening. The recently presented 2024 budget revealed a negative 2.2% growth rate for the industrial sector.

    To drive industrialisation, the government should focus on reducing production constraints such as inadequate power supply, lack of capital, and high cost of farm inputs, and providing incentives that give Ghanaian producers a competitive advantage in the domestic market. Closing borders to international trade or restricting imports contradicts the objective of promoting industrialisation. It is not a sustainable approach.

    SOURCE

    The Conversation

     

     

     

     

     

  • Providing Islamic Fintech Solutions to the IF Industry for Sustainable Development

    Providing Islamic Fintech Solutions to the IF Industry for Sustainable Development

    Report: Mohammed A.Abu

    The Islamic Development Bank Institute(IsDBI) in partnership with EZBusiness,a private Business Consultancy firm has kicked off the development of the pioneering Islamic Finance Knowledge Pavilion Marketplace, an official statement distributed by the APO Group on behalf of the Institute said in Jeddah, Sunday.

    The Pavilion, according the statement, will provide a digital marketplace of validated solution providers (institutions, consultants, and experts) in Islamic finance and economic development, and offer a one-stop shop for listing opportunities and seamless digital experience in the matchmaking of suppliers and customers.

    Phase 1 of the project, it added, will cover a market assessment, feasibility study, and business plan addressing the competitive landscape based on outcomes of the market assessment and a 5-year financial model and sensitivity analysis while, Phase 2, will cover the development of the Pavilion platform including the interface and content.

    This project aligns with the IsDB Institute’s strategic objective to provide fintech knowledge solutions to the Islamic finance industry to support sustainable development in IsDB Member Countries and worldwide.

    “The Islamic Finance Knowledge Pavilion Marketplace is not just a platform, but it is also a catalyst for creative collaboration within the Islamic finance industry and the development landscape. We are confident that this initiative has the potential to create enduring value for all stakeholders.” Dr. Sami Al-Suwailem, Acting Director General, IsDBI, stated

    The Islamic Development Bank Institute is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide.

    EZ2Business (https://EZ2Business.com), a business consultancy company that provides expert advice and builds custom solutions to address business transformation.

    For more information about the project, please contact Mr. Yazan Alsayed (yalsayed@isdb.org) or Mr. Mohamad Naamani (mnaamani@isdb.org).

     

     

     

     

     

     

     

     

     

    The Islamic Development Bank Institute(IsDBI) in partnership with EZBusiness,a private Business Consultancy firm has kicked off the development of the pioneering Islamic Finance Knowledge Pavilion Marketplace, an official statement distributed by the APO Group on behalf of the Institute said in Jeddah, Monday.

    The Pavilion, according the statement, will provide a digital marketplace of validated solution providers (institutions, consultants, and experts) in Islamic finance and economic development, and offer a one-stop shop for listing opportunities and seamless digital experience in the matchmaking of suppliers and customers.

    Phase 1 of the project, it added, will cover a market assessment, feasibility study, and business plan addressing the competitive landscape based on outcomes of the market assessment and a 5-year financial model and sensitivity analysis while, Phase 2, will cover the development of the Pavilion platform including the interface and content.

    This project aligns with the IsDB Institute’s strategic objective to provide fintech knowledge solutions to the Islamic finance industry to support sustainable development in IsDB Member Countries and worldwide.

    “The Islamic Finance Knowledge Pavilion Marketplace is not just a platform, but it is also a catalyst for creative collaboration within the Islamic finance industry and the development landscape. We are confident that this initiative has the potential to create enduring value for all stakeholders.” Dr. Sami Al-Suwailem, Acting Director General, IsDBI, stated

     

    The Islamic Development Bank Institute is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide.

     

    EZ2Business (https://EZ2Business.com), a business consultancy company that provides expert advice and builds custom solutions to address business transformati
    For more information about the project, please contact Mr. Yazan Alsayed (yalsayed@isdb.org) or Mr. Mohamad Naamani (mnaamani@isdb.org).

    Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI

     

     

     

     

     

    The Islamic Development Bank Institute(IsDBI) in partnership with EZBusiness,a private Business Consultancy firm has kicked off the development of the pioneering Islamic Finance Knowledge Pavilion Marketplace, an official statement distributed by the APO Group on behalf of the Institute said in Jeddah, Monday.

    The Pavilion, according the statement, will provide a digital marketplace of validated solution providers (institutions, consultants, and experts) in Islamic finance and economic development, and offer a one-stop shop for listing opportunities and seamless digital experience in the matchmaking of suppliers and customers.

    Phase 1 of the project, it added, will cover a market assessment, feasibility study, and business plan addressing the competitive landscape based on outcomes of the market assessment and a 5-year financial model and sensitivity analysis while, Phase 2, will cover the development of the Pavilion platform including the interface and content.

    This project aligns with the IsDB Institute’s strategic objective to provide fintech knowledge solutions to the Islamic finance industry to support sustainable development in IsDB Member Countries and worldwide.

    “The Islamic Finance Knowledge Pavilion Marketplace is not just a platform, but it is also a catalyst for creative collaboration within the Islamic finance industry and the development landscape. We are confident that this initiative has the potential to create enduring value for all stakeholders.” Dr. Sami Al-Suwailem, Acting Director General, IsDBI, stated

     

    The Islamic Development Bank Institute is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide.

     

    EZ2Business (https://EZ2Business.com), a business consultancy company that provides expert advice and builds custom solutions to address business transformati
    For more information about the project, please contact Mr. Yazan Alsayed (yalsayed@isdb.org) or Mr. Mohamad Naamani (mnaamani@isdb.org).

    Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI

  • ACEACFMS,Accra 2023 in Pictures

    ACEACFMS,Accra 2023 in Pictures