Zimbabwe receives US$31.8 million drought relief payout from African Risk Capacity

Staff Writer Zimbabwe has received a US$31.8 million payout from the African Risk Capacity (ARC) drought insurance scheme to bolster food security efforts and aid a challenging agricultural season. Zimbabwe like its counterparts in Southern Africa, is currently grappling with El Niño-induced severe drought which has impacted millions of farming households, affecting their livelihoods, food…

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AfDB, JICA agree on climate finance innovation for Africa

Staff Writer The African Development Bank Group (AfDB) and the Japan International Cooperation Agency (JICA) have called for a new approach to financing climate action to back Africa’s efforts to tackle climate change. During a meeting in Tokyo, both organisations acknowledged that traditional concessional loans are not enough. They emphasised the importance of innovative financial…

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Zimbabwe needs circular economy, climate-resilient agric for sustainable growth -UN

Staff Writer Zimbabwe must prioritise a circular economy and climate-smart agriculture to ensure sustainable economic development, UN Resident Coordinator Edward Kallon has said. Speaking at the Zimbabwe National Chamber of Commerce Annual Congress, Kallon highlighted the importance of resource efficiency and waste reduction. He noted that a circular economy framework emphasises resource efficiency and waste…

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Drought to weigh on spending – IMF

Staff Writer The International Monetary Fund (IMF) says the current drought in southern Africa will put pressure on external balances and public spending. From January 2024, several parts of Southern Africa experienced significantly below-average rainfall. Zimbabwe, Zambia, Malawi, Angola, Mozambique and Botswana received less than 20 percent of the typical rainfall expected for February, with…

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