Africa called to leverage solar potential

Staff Writer Africa’s solar potential presents multiple opportunities for investors seeking long-term, scalable financial prospects in renewable energy, experts say. Boasting 60% of the world’s best solar resources, the continent has been called to leverage its solar potential to drive sustainable solutions. Speaking at the Invest in African Energy 2024 forum, panelists explored strategies to…

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Africa requires US$277 billion to address climate change – AfDB

Staff Writer The African Development Bank (AfDB) says Africa will need US$277 billion per year to address climate change, yet it receives only US$30 billion annually. Africa is responsible for only a fraction of global greenhouse gas emissions but is suffering disproportionately from climate change. The World Meteorological Organisation says this is harming food security,…

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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 devastating…

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