Accion launches $152.5m Digital Transformation Fund to assist small businesses with growth capital
Global non-profit Accion has launched the US$152.5 million Accion Digital Transformation Fund (ADTx), which seeks to enable financial institutions to better meet the needs of small businesses currently excluded from the financial system by providing growth capital and strategic support for digital transformation. The ADTx fund, managed by Accion Impact Management, will build on Accion’s experience supporting banks and finance companies around the world to connect millions of small businesses and individuals to the digital economy. Investments will focus on companies serving micro, small, and medium enterprises across Africa, South and Southeast Asia, and Latin America. It expects to make up to 12 investments, while limited partners include British International Investment (BII), the UK’s development finance institution and impact investor; the Dutch entrepreneurial development bank FMO; IDB Invest; International Finance Corporation (IFC); Mastercard; OeEB, the development bank of Austria; and Swedfund, Sweden’s development finance institution. Leveraging third-party capital is a critical part of our strategy,” said Michael Schlein, president and CEO of Accion.
Source:The North Africa Journal
May 17, 2024 15:51 UTC
Dust from North Africa to Affect Region Again
According to information from the Meteorology Department, the dusty weather will start to be effective from 3:00 PM today and will continue until May 24. Residents with dust sensitivities are advised to take precautions as the dust particles are expected to create air pollution in the area.
Source:The North Africa Journal
May 17, 2024 14:30 UTC
The New Silk Road means big opportunities for Asia and MENA
Growth in the New Silk Road region is a major opportunity not to be missed. That is the take away from a new report by global management consultancy Oliver Wyman, which explores the increased trade among the New Silk Road economies. The Asia and Middle East corridorAsia and MENA’s share of the world’s GDP is on the rise. The New Silk Road countries are leading the way in IC and other components, electronics, textiles, telecom equipment, and clothing. The Middle East, of course, dominates in the energy sector, where it dominates 31% of the world’s fuel exports.
Source:The North Africa Journal
May 17, 2024 14:24 UTC
‘Regime machinery operating efficiently’ as Tunisia cracks down on dissent
Supporters denounce arrests of lawyers, journalists as ‘wave of repression’ shows no sign of slowing down. “Those parts of civil society that avoided the repression that followed the [July 2021 events] now seem to be the primary targets of the authorities. The fact the discussions over the decree governing associations have resumed as civil society is under attack is no coincidence,” he said. If passed, it would force civil society groups to seek permission from authorities to operate, Amnesty International said in October. According to Zied Dabbar, head of the National Union of Tunisian Journalists, at least 60 journalists and commentators have so far been summoned under the law.
Source:The North Africa Journal
May 17, 2024 14:09 UTC
South Sudan govt, rebel groups sign peace deal to end civil war – The North Africa Post
South Sudan’s transitional government and rebel opposition groups signed a “commitment declaration” on Thursday (16 May), pledging to support efforts to end hostilities and promote inclusive growth in the conflict-torn country. The rebel opposition groups were not part of the 2018 agreement that ended South Sudan’s five-year civil war that left 400,000 people dead and millions displaced. By signing the declaration of commitment to the Tumaini Initiative, meaning “hope” in Swahili, South Sudan’s Transitional Government of National Unity and opposition groups are committed to addressing the deep-rooted divisions and conflicts in the the landlocked country of about 11 million people to achieve lasting peace. Sumbeiywo also urged all parties involved to take a give-and-take approach, emphasizing the importance of resolving the long-standing issues that have plagued South Sudan since its independence in 2011. “It is time to put an end to the violence that has ripped communities apart and caused tremendous suffering.” The security and political situation in South Sudan remains fragile months before the elections that are due to be held in December this year.
Source:The North Africa Journal
May 17, 2024 13:46 UTC
Fragrance firm scents further expansion through growth of logistics capacity
Fragrance firm scents further expansion through growth of logistics capacityNantwich-based fragrance-led home and lifestyle brand, Fabulosa, has secured the lease of a newly-built 25,000 sq ft warehouse to accelerate the growth of its flourishing export channel. The firm, which manufactures a growing array of fragranced household products, will now benefit from additional warehouse space next to its existing premises in Cheshire. The new site will allow for increased stockholding, supporting Fabulosa’s ambitious aims to grow its global sales. The business is also exploring production facilities overseas as part of its medium to long term expansion strategy. In June last year the company announced it had expanded its geographical reach to the Middle East and North Africa.
Source:The North Africa Journal
May 17, 2024 13:44 UTC
North America Dominates Deep Tech, But WIll It Last?
A key finding is that fully 72 percent of the leading deep tech companies are based in North America, 68 percent in the US alone. Africa, Oceania, and Latin America each host around one per cent of the leading deep tech firms. Santa Clara Valley, or Silicon Valley, is the leading deep tech hub globally. The second most important global hub for deep tech is New York, where close to 8 percent of all globally leading deep tech companies are located. North America has particularly strong dominance in the areas of quantum & computing, as well as in pharmaceuticals and artificial intelligence.
Source:The North Africa Journal
May 17, 2024 13:38 UTC
North Africa: Scientists May Have Solved Mystery Behind Egypt's Pyramids
BBC | Scientists believe they may have solved the mystery of how 31 pyramids, including the world-famous Giza complex, were built in Egypt more than 4,000 years ago. Among those features were "buried rivers and ancient structures" running at the foothills of where the "vast majority of the Ancient Egyptian pyramids lie," Prof Ghoneim said. The team found that the river branch - named the Ahramat branch, with "ahramat" meaning pyramids in Arabic - was roughly 64km (39 miles) long and between 200-700m (656-2,296 ft) wide. And it bordered 31 pyramids, which were built between 4,700 and 3,700 years ago. The River Nile was the lifeline of Ancient Egypt - and remains so to this day.
Source:The North Africa Journal
May 17, 2024 13:19 UTC
Critical minerals demand remains robust, but pricing levelling out
After two years of dramatic increases the price of critical minerals fell in 2023, returning to levels last seen in pre-pandemic times. It notes that demand for critical minerals continues to grow strong in all likely scenarios posited by the IEA. The IEA reminds that as clean energy deployment expands, so too will the demand for critical minerals. The Agency sees the strong growth in demand producing a major uptick in the overall value of the critical minerals market. Find out more about potential areas of weakness for each mineral and how much investment into mining critical minerals will cost to reach net-zero emissions by 2050 in the IEA’s Global Critical Minerals Outlook.
Source:The North Africa Journal
May 17, 2024 13:12 UTC
GoAllOut student chapter breaks Guinness World Record
The North-West University’s GoAllOut Organisation student chapter has achieved a historic accolade in breaking the Guinness World Record with their Pad the Way project for the longest line of sanitary pads. After meticulous verification, Guinness World Records officially recognised the student chapter's accomplishment, with a staggering count of 51, 870 sanitary pads laid out over 3 565 meters (3.5km). The GoAllOut student chapter launched their Pad the Way initiative to raise awareness about and combat period poverty. “Through strategic partnerships with Bidvest Steiner and other corporate donors, the GoAllOut Organisation collected more than 100,000 sanitary pads for the event. In addition to the distribution of sanitary pads, they installed sanitary pad dispensers in prominent locations, including at the Mahikeng Mall and The Crossing shopping centres.
Source:The North Africa Journal
May 17, 2024 13:10 UTC
Kim's sister denies North Korea has supplied weapons to Russia
SEOUL, South Korea — The influential sister of North Korean leader Kim Jong Un again denied Friday that her country has exported any weapons to Russia, as she labeled outside speculation on North Korea-Russian arms dealings as “the most absurd paradox.”The U.S., South Korea and others have steadfastly accused North Korea of supplying artillery, missiles and other conventional weapons to Russia for its war in Ukraine in return for advanced military technologies and economic aid. Both North Korea and Russia have repeatedly dismissed that.
Source:The North Africa Journal
May 17, 2024 12:59 UTC
Free Market Economics: Lunatic Premises Lead to Mad Conclusions
This is part six of my series on why free market economics is a false religion. This is a common thing in the “science” of economics, ideas go in and out of fashion like Jean styles. Our conception of free market economics is based on what the neoclassical thinkers built. Economics has gone beyond the bounds of scienceThese ideas about perfect markets, based on abstraction and ivory tower theory, are baked into free market economics. The free market faithful want us to believe, like they do, that there is only one true way to run an economy.
Source:The North Africa Journal
May 17, 2024 12:48 UTC
North Africa Seamless Steel Tubes Market: Market Dynamics and Strategies for Success 2024-2031 | Survey by DataM Intelligence
North Africa Seamless Steel Tubes Market: Market Dynamics and Strategies for Success 2024-2031 | Survey by DataM Intelligencehttps://datamintelligence.com/download-sample/north-africa-seamless-steel-tubes-markethttps://datamintelligence.com/customize/north-africa-seamless-steel-tubes-markethttps://datamintelligence.com/download-sample/north-africa-seamless-steel-tubes-markethttps://www.datamintelligence.com/A new Report by DataM Intelligence, titled "North Africa Seamless Steel Tubes Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2031,"" offers a comprehensive analysis of the industry, which comprises insights on the North Africa Seamless Steel Tubes market analysis. The North Africa Seamless Steel Tubes market has been growing significantly in recent years, driven by a number of key factors, such as increasing demand for its products, expanding customer base, and technological advancements. North Africa Seamless Steel Tubes Market Size, Growth Analysis, Industry Trend, and Forecast, offers details of the factors influencing the global business scope. The data points provided are only related to the company's focus related to North Africa Seamless Steel Tubes markets. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you.
Source:The North Africa Journal
May 17, 2024 12:45 UTC
Egyptian Fintech Bokra Secures $4.6 Million in Seed Funding Round
ShareBokra will support a variety of financial goals and enable retail and SME investors to easily save and invest across different asset classes. The Bokra app addresses these challenges by offering balanced, individualized financial and investment planning across various asset classes. Based on the results, they are matched with a portfolio that includes a variety of instruments aligned with their objectives. The Bokra app features a dashboard that helps users consistently monitor and stay on top of their financial goals. The funding will support the launch of the Bokra app, the expansion of the selection of financial products, and the growth of operations across the Middle East and North Africa.
Source:The North Africa Journal
May 17, 2024 12:38 UTC
Russia Plans Big Dairy Export Push In North Africa, Middle East, Asia
Russia plans to grow its presence in the global dairy products market by increasing supplies by 15-20% annually with a big push into Arab countries - especially Algeria - and southeast Asia, the head of industry lobby group Soyuzmoloko told Reuters. "Annually, the Russian dairy industry can show export growth rates of about 15-20%, but it is not excluded that the growth can go exponentially under the right conditions," Artem Belov said. Russia's annual dairy exports are now worth $400 million, or about 1% of a global market estimated at more than $40 billion, he said. ADVERTISEMENTThe new target markets are in countries that Russia is courting heavily as it pivots its trade away from Europe. Dairy ExportsRussia does not make significant dairy exports to Western countries and dairy products are not subject to sanctions imposed by those countries.
Source:The North Africa Journal
May 17, 2024 11:19 UTC