Absent any serious demand growth, carriers are expected to announce a host of blank sailings to counteract supply-side growth, according to the latest update from Sea-Intelligence. "In week 42, we looked at the post-Golden week capacity deployment on Transpacific and Asia-Europe and saw substantial overcapacity on both trades. Four weeks on, hardly any new blank sailings have been announced, and capacity growth for the remainder of 2023 is still quite excessive." Figure 1 shows a summary of these growth figures, based on the latest vessel deployments (as of Week 46, 2023). "These figures are for the last 10 weeks of 2023 (Weeks 42-52), net of the growth in 2019, as well as net of the average growth across 2016-2019.

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Bitget Launches Arabic Lingual Support for Middle-Eastern and North African UsersBitget Launches Arabic Lingual Support for Middle-Eastern and North African UsersSummary:Bitget, the world’s leading cryptocurrency exchange and Web3 company, has announced the launch of Arabic lingual support on its mobile application and website. This move aims to provide broader access to Arabic-speaking audiences in the Middle East and North Africa region. Main Points:Bitget now offers Arabic lingual support for its mobile application and website. The company plans to apply for licenses and gain regulatory approval to operate in target Middle East markets and establish regional offices. Conclusion:Bitget’s launch of Arabic lingual support demonstrates its commitment to expanding its presence in the Middle East and North Africa region.

Polar air is set to bring a chill for us all but how long will it last? Chris Fawkes has the long-range forecast.

Some observers worry that it will be difficult for North African countries that have authoritarian regimes to be able to meet these criteria. Last year, the only African countries that received lower democracy scores were the Central African Republic, Chad, Democratic Republic of Congo, Equatorial Guinea, and Eritrea. AGOA eligibility criteria have not been defined using objective criteria: “There are no benchmark indices. Examples include Burkina Faso, Central African Republic, Ethiopia, Gabon, Guinea, Mali, and Niger. Should the rules of origin be expanded, North African countries will need to constantly mitigate against this risk of politicization in order to realize the full potential of participation in the expanded rules of origin.

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Established in 1996, South Africa’s Special Investigating Unit (SIU) has acted as a trusted anti-corruption, forensic investigation, and litigation agency to recover financial losses and correct wrongdoing. But with a long history comes legacy tech and inefficiencies. The project started at the beginning of 2022, says Zwane, noting that the SIU still ran GroupWise at the time, a platform that supports email, instant messaging and document management. Navigating the migrationOf course, this was not a simple task, especially considering how much data the agency was dealing with. The move to do everything internally was important to secure the SIU’s operational continuity and to guarantee the sustainability of the organization.

A newly inaugurated solar park with battery storage almost doubles the Central African Republic’s (CAR) electricity generation capacity. The CAR electricity sector features inadequate infrastructure and a weak policy and regulatory framework. Decarbonising generation capacity in CARThe Danzi Solar Park is the product of a partnership between the CAR government and the World Bank. This is in addition to the support to develop the CAR electricity sector through the Electricity Sector Strengthening and Access Project (PARSE). The CAR liberalised its electricity sector and established the CAR Electricity Code in 2005 to restructure ENERCA and put it on a more viable path.

AdvertisementThe top cryptocurrency exchange and Web3 provider in the world, Bitget, has added Arabic language support to its mobile app and website, making it accessible from over eleven Middle Eastern and North African nations. This action aligns with Bitget’s support for Fiat gateways for seven different currencies in the Middle East, including dinars, riyals, and ouguiyas. Using Bitget’s P2P, Earn, Futures, Copy-trading, and other features is also supported in terms of languages. AdvertisementFurthermore, Bitget customers in the Middle East will profit from free costs for purchasing and selling cryptocurrencies using Bitget P2P, as the platform prioritises offering a flawless trading experience. Bitget is investigating obtaining licenses to conduct business in the intended Middle Eastern markets.

The Director of the Media Office in the Misrata Free Zone (MFZ), Aladdin Baba, revealed in an exclusive interview with Libya Herald Wednesday that an agreement was signed on Tuesday in the city of Misrata with the Chinese company SANY, to supply gantry cranes with a capacity of 60 tons. Baba stressed that the signing of this agreement with SANY comes within the programmes of developing and modernizing machinery within MFZ to be environmentally friendly. This, he added, reflects the commitment of MFZ to fully adopting environmentally friendly technology in all work and services provided within it. It is worth noting that SANY is a company specialized in designing and manufacturing a wide range of heavy machinery and port equipment, such as hydraulic excavators, forklifts, bulldozers, concrete pumps, gantry cranes, and wide types of cranes inside and outside service and industrial facilities and sites. 50 local and international companies participate in the International Conference on Ports and Free Zones in Misrata (libyaherald.com)MFZ signs MoU with China Harbour, one of the world’s largest port implementers and operators (libyaherald.com)North Africa International Ports and Free Zones Conference and Exhibition – 18 to 20 November at Misrata Free Zone (libyaherald.com)

Applications are open for the African Agri-tech Scale-Up Programme, which aims to help agri-focused and agri-adjacent ventures scale across the continent more quickly. The African Agri-tech Scale-Up Programme is the result of a partnership between Endeavor, AfricaGrow and FMO, the Dutch entrepreneurial development bank, which aims to empower early-stage African agri-tech ventures. It provides entrepreneurs with highly-tailored, structured mentoring through Endeavor’s global network of industry experts and investors, as well as other critical resources. Through a cohort-based approach supported by FMO and AfricaGrow, Endeavor will focus on helping agri-tech and agri-adjacent ventures across Africa scale quicker. Applications are open here until December 30, and the programme runs for the entirety of 2024.

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The Islamic Development Bank (21.2%), the West African Development Bank (15.9%), Sponsor Dette (19.3%) and Sponsor Equity (7.7%) are the other contributors to the implementation of ‘Projet Agropole Nord’, in English, ‘Agricultural Hub North Project’. As of 31 October 2023, the African Development Bank Group’s active portfolio in Senegal comprised 35 projects with a total commitment of 1,380 billion FCFA. Distributed by APO Group on behalf of African Development Bank Group (AfDB). Media contact:Alexis AdéléCommunication and External Relations Departmentmedia@afdb.orgAbout the African Development Bank Group:The African Development Bank Group is the leading development finance institution in Africa. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Special Fund (NSF).

In their latest Africa Energy Review 2023, PwC looks at the challenges and opportunities inherent in the continent’s energy sector, positing that Africa is now emerging as a key enabler to the global energy transition. It requires a multipronged approach to decarbonisation with renewables and natural gas power at its core. It says the continent has significant renewable energy potential, particularly in the North and South, from which to develop renewable energy and become more energy secure in a sustainable net-zero manner. Image Source: PwC’s Africa Energy Review 2023. East African energy expansion is mostly driven by gas development and LNG export, with Tanzania and Mozambique’s gas potential starting to bear fruit.