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
North Africa defies market trend that affected the rest of the world
Infrastructure investment is critical for bridging regional gaps and promoting balanced growth. MENA private infrastructure investmentA report by the World Bank revealed that the private sector infused $86B into infrastructure development in low- and middle-income nations in 2023. “The regions with the highest contribution from foreign investors in 2023 were the Middle East and North Africa (MENA) and Sub-Saharan Africa (SSA),” the report by the World Bank reads. ADVERTISEMENT“In 2023, all 14 PPI projects in the MENA region were sponsored by foreign companies, while in SSA 83 percent of all PPI projects were sponsored by foreign companies. “PPI investments declined in most regions, with the notable exceptions of the Middle East and North Africa (MENA) and East Asia and Pacific (EAP).
Source:The North Africa Journal
May 17, 2024 11:07 UTC
Europe and its neighbours: leveraging the potential of green energy production
By prioritizing equitable green energy initiatives, both regions can not only reshape their energy landscapes, but also foster a partnership based on mutual respect and shared social and economic progress. The study's recommendations provide a roadmap for a fair and cooperative green transition. The focus is on regional interconnectivity, de-risking investment and a just and social transition. In this way, green energy could become a real catalyst for EU-MENA trade relations. The study “Strengthening EU-Southern Neighbourhood Relations - The Imperative of Equal Partnerships in the Green Energy Transition” is part of a series of knowledge-based briefings, produced in the context of the Sovereign Europe project.
Source:The North Africa Journal
May 17, 2024 11:05 UTC
South Korean military says North Korea test-fired ‘ballistic missiles’
The launches come a day after the United States and South Korea conducted joint fighter jet drills. North Korea has test-fired short-range “ballistic missiles” towards the Sea of Japan, the South Korean military said a day after it conducted joint drills with the United States using stealth fighter jets to simulate air combat. On Thursday, two South Korean F-35As and two US F-22 Raptors conducted aerial exercises over the central region of South Korea. Banned testsIn late April, North Korea fired a 600mm “super-large warhead” towards the same area. Earlier on Friday, Kim’s powerful sister Kim Yo Jong said the country’s tactical weapons were intended as a deterrent against South Korean military aggression and denied it exports weapons.
Source:The North Africa Journal
May 17, 2024 10:57 UTC
The Egyptian pyramid chain was built along the now abandoned Ahramat Nile Branch
This extinct branch is referred to hereafter as the Ahramat Branch, meaning the “Pyramids Branch” in Arabic. d A visible segment of the Ahramat Branch in TDX is now partially occupied by the modern Bahr el-Libeini canal. The visible segments of the Ahramat Branch in TDX are now partially occupied by the modern Bahr el-Libeini canal. 2: Geophysical survey showing evidence of the abandoned river course of the Ahramat Branch. The Khufu Pyramid, the largest pyramid in Egypt, seems to be connected directly to the river course of the Ahramat Branch (Fig.
Source:The North Africa Journal
May 17, 2024 10:20 UTC
Key takeaways from the German-African Energy Forum
More than 300 participants representing over 30 countries took part in the 17th edition of the German-African Energy Forum, held in Hamburg on May 16 and 17. As this year’s theme – “Africa’s energy roadmap: Breaking new grounds for green(er) economies” – would indicate, the continent’s green energy transition was at the forefront of many conversations. Nthato Minyuku, Siemens Energy’s head of government affairs for Africa, told attendees that African countries need time, space and funding for the energy transition. Ezekiel Adesina, executive secretary of the African Energy Study Group, Nigeria, called for international cooperation across the continent. In particular, Sven Schuppener, an associate expert for UNIDO Austria, gave advice for African countries looking to develop the technology.
Source:The North Africa Journal
May 17, 2024 09:51 UTC
As Israel attacked Gaza’s north, 26 members of his family were wiped out
The surviving Assalia family members are trying to flee Jabalia as Israeli forces return to the north – but they don’t know where to go. Running parallel to As-Sikka is a smaller street known as Assalia, named after the large Assalia family that inhabits that neighbourhood. Late last week, 26 members of the Assalia family were killed, and six houses on that street were reduced to rubble by an Israeli attack, according to witness testimony. But now, the surviving Assalia family members are trying to flee Jabalia as Israeli forces return to the north, also intensifying attacks on Gaza City. Throughout the war, hundreds of others from the extended Assalia family have been killed or displaced.
Source:The North Africa Journal
May 17, 2024 09:23 UTC
Next Step and AT4D Join Hands to Unleash Ethical AI’s Potential For People With Disabilities
At the partnership’s launch event, Philip Thiago, a UN High-Level Advisory Board Member on AI, expounded on AI’s immense potential to accelerate progress toward Sustainable Development Goals (SDGs). Thiago highlighted that the UN advisory board is spearheading initiatives to foster an inclusive AI agenda through its interim report ‘Governing AI for Humanity’. This guideline identifies key principles like inclusivity, public interest primacy, centralized data governance frameworks, and ensuring universal buy-in from nations and stakeholders to shape new global AI governance institutions. At the UN level, we aim to construct a multi-stakeholder, ecosystem-driven approach by addressing core enablers for safe, trusted, and inclusive AI ecosystems – with data governance being crucial,” Thiago remarked. Meanwhile, Next Step Foundation’s Executive Chairman Christopher Harrison underscored the organization’s unique capacity to facilitate high-quality annotated training data creation and bridge AI skills gaps across Africa.
Source:The North Africa Journal
May 17, 2024 08:14 UTC
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Source:The North Africa Journal
May 17, 2024 08:07 UTC
AfriLabs, 2X Global partner to advance intersectional gender lens investing
African hubs network AfriLabs and 2X Global, a global industry body focused on increasing the volume and impact of capital directed towards women’s economic empowerment worldwide, have entered into a strategic partnership aimed at advancing intersectional gender lens investing across emerging economies. Having recently announced the admission of 16 new hubs, AfriLabs now has a network of 478 hubs across 260 cities in 53 African nations. 2X Global, meanwhile, is a global membership and field-building organisation for investors, capital providers, and intermediaries working in public and private markets, focused on increasing the amount of capital directed towards female interests. “We are thrilled about our partnership with 2X Global, a leader in advancing intersectional Gender Lens Investing globally. “2X Global and AfriLabs have a common focus on knowledge sharing and capacity building, not to mention a shared commitment to supporting women’s economic empowerment.
Source:The North Africa Journal
May 17, 2024 07:48 UTC
Russia plans big dairy export push in North Africa, Middle East and Asia
"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. The new target markets are in countries that Russia is courting heavily as it pivots its trade away from Europe. Russia does not make significant dairy exports to Western countries and dairy products are not subject to sanctions imposed by those countries. "In 2024, Algeria may become the number one buyer and number one in terms of exports of dairy commodities.
Source:The North Africa Journal
May 17, 2024 05:37 UTC
The Big Question: Heather McEwan
In our regular feature Heather McEwan, Senior Manager – Project Developer Engagement for Verra South Africa responds to our Big Question: Are carbon markets the correct solution for Africa? Climate effects are limiting the ability of African countries from sustainably developing and utilising their resources to benefit their people. Until we reach a global consensus on carbon emission reductions, the VCM will remain the most effective means to drive finance to African climate projects. The VCM can help fund climaTe projects that spur reforestation and forest conservation, investments in renewable energy, carbon-storing agricultural practices and direct air capture across Africa. Despite recent volatility, VCM demand more than doubled over the past year, with nature-based climate projects leading the way.
Source:The North Africa Journal
May 17, 2024 03:36 UTC
Chevron reportedly set for UK North Sea exit after 55 years
Chevron is set to commence the sale of its remaining UK North Sea assets, which will mark the US energy giant’s departure from the basin after more than five decades, reported Reuters. Chevron’s decision to exit the UK North Sea is part of a broader trend among leading oil and gas companies, which are gradually withdrawing from the mature British basin to concentrate on more recent global discoveries. Its holdings in the region include a 19.4% interest in the BP-operated Clair oilfield, the largest in the British North Sea, which currently produces 120,000 barrels per day. In 2019, Chevron divested many of its North Sea holdings to Ithaca Energy, echoing similar actions by ExxonMobil and Shell over the past decade. Chevron has clarified that the North Sea sale is not influenced by the UK Government’s 35% windfall tax imposed on North Sea producers after the spike in energy prices in 2022.
Source:The North Africa Journal
May 17, 2024 02:59 UTC
Russia plans big dairy export push
Russia plans big dairy export push Plans exports to North Africa, Middle East and Asia17 May 2024 17 May 2024 3 minute read 3 minute read By: By: Global Ag Media EuropeRussia 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. The new target markets are in countries that Russia is courting heavily as it pivots its trade away from Europe. Russia 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 02:30 UTC