Insurance provides added support in wake of natural catastrophes

Insurance provides added support in wake of natural catastrophes

Insurance provides added support in wake of natural catastrophes

New insurance mechanisms are emerging for Africa as the world grapples with the aftermath of natural catastrophes and as the risks associated with climate change come into sharper focus. This month, the German city of Bonn will be the venue for the United Nations Climate Change Conference (COP23). Playing host at the event, however, is the small island state of Fiji.…

$600m safety net for Ethiopia farms

$600m safety net for Ethiopia farms

$600m safety net for Ethiopia farms

The World Bank has approved a $600m International Development Association (IDA) grant to support the Ethiopian government’s vision of a national safety net system to provide effective support in chronically food insecure rural areas, particularly during droughts. The Rural Productive Safety Net Project supports the evolution of the government’s umbrella Productive Safety Net Program (PSNP), which has been in operation…

$280m programme to boost agriculture across Africa

$280m programme to boost agriculture across Africa

$280m programme to boost agriculture across Africa

The multimillion-dollar Partnership for Inclusive Agricultural Transformation in Africa (PIATA) is to provide up to $280m to catalyse and sustain inclusive agricultural transformation in at least 11 countries in Africa. The 11 are: Ghana, Nigeria, Mali, Burkina Faso, Rwanda, Uganda, Kenya, Ethiopia, Tanzania, Malawi and Mozambique. The programme was launched at the 2017 African Green Revolution Forum as an innovative…

Agriculture on cusp of revolutionising economies

Agriculture on cusp of revolutionising economies

Agriculture on cusp of revolutionising economies

The food market in Africa could be worth more than $1trn a year by 2030, according to a new report. However, the report’s authors conclude that, although progress is being made, Africa needs to pick up the pace if it is to compete globally and turn itself from importer to exporter by feeding its people with food made in the…

Floods on increase across Africa as hundreds die in Sierra Leone

Floods on increase across Africa as hundreds die in Sierra Leone

Floods on increase across Africa as hundreds die in Sierra Leone

Risk managers are being warned of a rapid increase in the number and severity of floods across the continent, as hundreds have been killed and hundreds more are missing after floods washed away the side of a mountain in the outskirts of Freetown, Sierra Leone. Experts had been calling for action to help secure land vulnerable to flooding for some…

South African mines move towards settlement in silicosis claims

South African mines move towards settlement in silicosis claims

South African mines move towards settlement in silicosis claims

South African mining firms are reported to be preparing a multimillion-dollar settlement with as many as 100,000 former workers suffering from lung diseases. Mining News reported that Anglo American has set aside $101m in preparation for a potential settlement, while Gold Fields expects to pay about $30m to end a class action lawsuit. AngloGold Ashanti, Sibanye Gold and Harmony Gold Mining are among 32 respondents…

African agriculture must become a business

African agriculture must become a business

African agriculture must become a business

Agriculture needs to become a business, not a way of life, if Africa is to reap the potential from the sector, according to the president of the African Development Bank (AfDB). Akinwumi Adesina is championing the transformation of the rural economies of African countries as the fastest way to lift millions of people out of poverty. Speaking on a visit…

Climate change report forecasts higher intensity weather phenomena

Climate change report forecasts higher intensity weather phenomena

Climate change report forecasts higher intensity weather phenomena

Climate change is likely to cause higher frequency and intense weather events including thunderstorms, wildfires and floods, according to a new report from AIR Worldwide. The report found that the number of cyclone events is likely to fall, but there will be more strong storms. AIR Worldwide said flooding will be the most evident manifestation of climate change, with more…

Mining sector climbing back to profit

Mining sector climbing back to profit

Mining sector climbing back to profit

The world’s giant mining houses are reversing their race to the bottom, according to PwC’s Mine 2017 report. The report shows the top 40 companies have bolstered balance sheets and a return to profitability in 2016. At the release of the 14th edition of PwC’s industry series, Michal Kotzé, energy, utilities and mining industry leader for PwC Africa, said: “The…

Investors call on Exxon Mobile to assess risks from climate change

Investors call on Exxon Mobile to assess risks from climate change

Investors call on Exxon Mobile to assess risks from climate change

Shareholders in US energy giant Exxon Mobil have backed a motion requiring the company to assess the risks from climate change. The vote comes amid reports that President Trump is preparing to pull out of the Paris climate agreement. Meanwhile, the EU and China are to agree a joint statement on the agreement saying it is “an imperative more important…

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