Tag Archives: World Bank
World Bank: Latest News
Peter Pedroncelli, 6:38 pm AFKI Original
The World Bank Group is committed to supporting the growth of Africa’s digital economy through XL Africa, a business acceleration initiative that is providing a raft of benefits for the 20 most promising startups in sub-Saharan Africa. These African digital entrepreneurs have an opportunity to be mentored by various global specialists, increase their visibility on the continent and receive access to corporate partners and investors.
Staff, 5:29 pm
The World Bank has chosen the 20 startups that will take part in its XL Africa accelerator program, which offers participants help in securing up to US$1.5 million in early stage capital. Disrupt Africa reported on the launch of XL Africa, which will offer startups access to a tailormade curriculum and the chance to receive mentoring from global and local experts. After more than 900 applications were received, the program organizers have now selected the 20 African tech startups to take part.
Peter Pedroncelli, 2:56 am
The World Bank and venture capital firm Nest have announced a call for applications for the Agritech Challenge 2017 in Kenya. The initiative is the first open innovation program of its kind in Kenya, and it is aimed at connecting promising startups and innovators with one of the region’s leading agribusiness corporates. The AgriTech Challenge, which is sponsored by the World Bank, aims to spur collaborative innovation within the agricultural sector in Kenya.
Peter Pedroncelli, 6:09 am
Nigeria is looking to invest in plans to expand electricity generation and capacity with a proposed $5.2 billion loan from the World Bank, thereby boosting economic recovery following the country’s first contraction in a quarter of a century. Nigeria’s power, works, and housing minister Babatunde Fashola has identified the loan amount as a requirement in order to address the issues that the country has in terms of distribution of power, transmission-capacity and poor access to electricity in rural areas. These issues have a knock-on effect for the economy, and addressing these would allow for improved electricity capacity for Nigerian private and public enterprise
Staff, 10:26 am
The World Bank has announced the launch of XL Africa, an acceleration program aimed at supporting 20 top digital startups from Sub-Saharan Africa. XL Africa will run over five months and startups will be put through a tailored curriculum, while receiving mentorship and the chance to attract early-stage capital of between US$250,000 and US$1.5-million. The program will […]
Mongabay, 1:34 pm
Ethiopia has failed to make the most of emission reduction projects that allow developing countries to sell certified carbon credits, a stakeholder said. Making carbon credits marketable requires time, substantial investment and resources. Even then, a prospective buyer might reject them. Proponents say the carbon trading projects can’t come soon enough. The country is losing five times more forest than it’s planting. If Ethiopia is strategic, it can sell abundant resources like water to help power industrialization, boost tourism, boost electricity generation and create a wealthy green economy. And it’s renewable.
Dana Sanchez, 2:13 pm
After oil prices crashed, Angola could no longer service its US$25 billion debt to China. Since the loans were supposed to be paid in oil, most of Angola’s crude production now goes to debt repayment, leaving little to finance economic development. Spending has decreased by 40 percent and cuts to water sanitation and waste collection helped put Angola sixth-to-last on World Bank’s index of inequality. Unlike Angola, Mozambique’s foreign debt and accompanying economic problems cannot be traced back to Chinese loans. Instead they are the result of Chinese illegal fishing in its waters.
Staff, 12:01 am
Obama’s push for LGBT rights has shifted attitudes globally but some are fighting it. Washington, D.C.-based World Bank lends money in developing countries. This year, it researched LGBT discrimination globally and collected data. The bank created a new advisor whose job is to report violence gainst LGBT in the 136 countries in which it does business. Fifty-four African countries want a new U.N. investigator suspended whose job is to investigate human rights violations against LGBT. There’s a good chance their resolution will pass.
Staff, 12:02 am
Just as Nigeria prepares to issue its first Eurobond since 2013, S&P Global Ratings has downgraded the economy of Africa’s most populous country further into junk territory. Africa’s wealthiest man, Nigerian billionaire Aliko Dangote, told CNBC he knows what could help Nigeria move out of the recession — selling government assets to the private sector. “Nigeria’s economy has weakened more than we expected owing to a marked contraction in oil production, a restrictive foreign exchange policy and delayed fiscal stimulus,” S&P said Friday in an e-mailed statement after markets closed.
Dana Sanchez, 12:12 pm
All the big geopolitical players are refining their transition strategies and post-Mugabe plans. Two transitional bailout plans — one from Western backers and another from China — are being refined in anticipation of the post-Mugabe era. The Western package underwrites Vice President Emmerson Mnangagwa’s ascendancy while the Chinese deal is largely designed to shore up First Lady Grace Mugabe and her Zanu PF faction’s political ambitions, according to local Zimbabwean media.
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