Morocco sends more aid to flood-hit Spain – The North Africa Post
A humanitarian convoy consisting of 13 trucks (12 tankers and a repair and tool vehicle) departed from Tanger-Med on Nov 16, and was sent to flood-stricken Valencia, Spanish news agency EFE reported. It was the second assistance convey sent by Morocco to Valencia. It included 25 truck vacuum pumps and 70 rescuers and 34 Moroccan volunteers who were mobilized to provide logistical and humanitarian assistance. Spanish Prime Minister Pedro Sanchez thanked Morocco for its solidarity and quick response. The recent floods in Valencia have resulted in over 200 deaths, numerous casualties, and extensive damage to infrastructure, transforming roads into rivers and leaving many areas without basic services.
Source:The North Africa Journal
November 19, 2024 01:30 UTC
Is the Rise of Sudanese Rap Breaking Down Racist Stereotypes?
Is the Rise of Sudanese Rap Breaking Down Racist Stereotypes? Sudanese rap is having a fantastic year, introducing the North African region to its unique sound and dialect, but are non-Sudanese really listening?
Source:The North Africa Journal
November 19, 2024 01:05 UTC
Hitachi Energy to help Sweden’s transmission grid increase power capacity
Svenska kraftnät invests $300 million USD (3 billion SEK) to increase power capacity to transmit clean energy from the north to the southAdvanced technology enables the transfer of hydro and wind power, supporting Sweden’s renewable energy mixPower quality solution from Hitachi Energy will allow enough power to serve an additional one million householdsHitachi Energy, along with consortium partner Kanonaden Entreprenad Mälardalen AB, will deploy Sweden’s largest-ever power quality solution for Svenska kraftnät to increase the capacity of existing transmission lines and increase the country’s renewable energy consumption from hydro and wind resources in North Sweden. The consortium order is worth $300 million USD (3 billion SEK), for which Hitachi Energy will install up to ten series compensation systems, expected to be operational by 2030. This technology is cost-effective and eco-efficient, as it improves the power transfer capacity of existing power lines. With more power transmitted, an additional one million households will be served.
Source:The North Africa Journal
November 19, 2024 00:56 UTC
American Beacon Advisors Adopts Two Mutual Funds From Ninety One North America
Effective November 15, 2024, American Beacon will serve as the investment advisor and Ninety One will serve as sub-advisor to the newly adopted mutual funds: American Beacon Ninety One Global Franchise Fund and American Beacon Ninety One International Franchise Fund (“the Funds”). Greg Stumm, president and CEO of Resolute Investment Managers and American Beacon, said: “We are continually seeking to add high-quality asset management partners to the American Beacon and Resolute platforms. American Beacon Advisors manages the American Beacon Funds, a series of competitively priced mutual funds and exchange-traded funds. As of September 30, 2024, American Beacon Advisors had $60.3 billion in assets under management. The American Beacon Funds are distributed by Resolute Investment Distributors, Inc.American Beacon is a registered service mark of American Beacon Advisors, Inc. American Beacon Funds, American Beacon Ninety One Global Franchise Fund and American Beacon Ninety One International Franchise Fund are service marks of American Beacon Advisors, Inc.91-FUNDS-PRESS-2024 | 11/24
Source:The North Africa Journal
November 18, 2024 20:01 UTC
Jim Sheridan Mounts Equestrian Epic ‘King of the Wind,’ Road Dramedy ‘Into Africa and Out’ (EXCLUSIVE)
Irish auteur Jim Sheridan will direct the equestrian epic “King of the Wind,” an historical drama about an 18th century Arabian colt that would go on to sire the modern thoroughbred bloodline. The filmmaker aims to shoot the project in the Middle East and North Africa, and will start scouting early next year. “I’m looking to make an animal human in a way, trying to access [it as you would an actor]. The six-time Oscar nominee will set his lens on paternity with “Into Africa and Out,” a semi-autobiographical road movie Sheridan is co-writing with his partner, director Zahara Moufid. “[I’m pushed by] this passion to get to something just or true, because I’m not really that interested in pure entertainment.
Source:The North Africa Journal
November 18, 2024 17:35 UTC
Afreximbank raises $523m in first Samurai Bond issue
The African Export-Import Bank (Afreximbank) has raised $523 million (¥81.3 billion) in its inaugural issue of a Samurai bond, making it one of the only few African institutions to raise funds in the unique Japanese market. A Samurai bond is a Japanese yen-denominated facility aimed primarily at individual and institutional investors in the Asian powerhouse, and provides a means of raising funds in Japan capital markets. “We have been in the Samurai loan market since 2017 and this time we are very happy to extend our footprints to the Samurai bond market as well. According to the bank, the institutional Samurai transaction attracted almost 150 orders, which is higher than any other debut Samurai transaction issued by African institutions. Currently, Kenya and Nigeria are also considering a Samurai bond to diversify funding sources as yields in the Eurobond market have hit record levels, making it expensive to access funding from the markets.
Source:The North Africa Journal
November 18, 2024 17:00 UTC
VC in Africa Shows Increasing Interest in Fintech, AI, and Climate Tech (Report)
African startups in fintech, artificial intelligence (AI), and climate technology have attracted the lion’s share of venture capital on the continent. According to a recent report by the African Private Equity and Venture Capital Association (AVCA), these sectors captured 58% of all venture capital deals in the first nine months of 2024. North Africa Surpasses West Africa in Venture FundingFor the first time, North Africa has outpaced other regions in both the volume and value of venture deals. East Africa came in second with $196 million raised through 75 deals, while West Africa, traditionally the top performer, dropped to third with $185 million raised in 73 deals. Southern Africa raised $152 million from 51 deals, while Central Africa lagged with only $6 million from 7 deals.
Source:The North Africa Journal
November 18, 2024 16:55 UTC
Solar for EV charging infrastructure in KZN
An amount of R9.4 billion has been pledged by Zero Carbon Charge (CHARGE) at the KwaZulu-Natal Investment Conference to develop off-grid renewably powered electric vehicle (EV) charging infrastructure across the province. Eastern Cape gets its first off-grid EV charging networkThe MOU emphasises the EDTEA’s commitment to establishing a conducive environment to develop off-grid electric vehicle charging stations in KwaZulu-Natal. These charging stations form part of the 120 renewable EV charging facilities that CHARGE is developing across the country, spaced at 150km intervals. EV charging infrastructure marks step in KZN journey towards carbon-neutral economyFurthermore, the EDTEA and TIKZN will play a role in identifying and advising on additional future electric passenger vehicle charging sites as well as locations to develop off-grid electric truck charging sites across the province. Zondi said the green charging stations mark a transformative step in their journey towards a carbon-neutral economy.
Source:The North Africa Journal
November 18, 2024 16:48 UTC
Asia's fintech firms see the Middle East as their next target market due to low competition
And after building out its UAE business, Ferrario says, StashAway is eyeing further expansion in the Middle East. Fintech hubStashAway is far from alone, as the Middle East is becoming a fintech hub in its own right. McKinsey predicts that fintech funding in the Middle East, Pakistan and North Africa region could grow to as much as $4.5 billion by 2025. The Alibaba affiliate is working with Saudi Arabia’s Ministry of Investment as it looks to use the kingdom as a gateway to the wider Middle East market. It’s part of a larger drive by Asian financial hubs like Hong Kong and Singapore to deepen links with the Middle East.
Source:The North Africa Journal
November 18, 2024 16:44 UTC
Sudan’s RSF gets podium in Nairobi to deny rights abuses
Sudan’s paramilitary Rapid Support Forces (RSF) took to the podium in Nairobi on Monday to refute accusations of civilian rights abuses, including ethnic cleansing, rape and murder. Burhan recently accused the United Arab Emirates and other unnamed countries of siding with RSF to perpetuate the war. RSF acknowledges that there have been some human rights violations in Al-Gezira state, south of Khartoum, where violence has recently raged. Row with NairobiFor Nairobi, the presence of RSF could spark a diplomatic row with Burhan. Earlier this year, Burhan suspended cooperation with the regional bloc Intergovernmental Authority on Development (Igad) after it appeared to invite RSF.
Source:The North Africa Journal
November 18, 2024 16:41 UTC
South Africa’s Ramaphosa calls for safe recovery of illegal miners stuck underground
The police have blocked miners’ supplies of food and water to force them out and arrest them for illegally entering the abandoned mine in North West province in search of leftover gold – an issue that has plagued South Africa for decades. More than 1,000 illegal miners have resurfaced in recent weeks but police said last week that hundreds could still be underground. Local residents and human rights groups have criticized authorities for blocking their supplies.
Source:The North Africa Journal
November 18, 2024 14:35 UTC
Nigeria: Court Rules Against Regulator (NBC’s) Authority To Fine Media Outlets At Will
In Nigeria, a Federal High Court in Lagos State has ruled against the National Broadcasting Commission (NBC), ordering it to refrain from leveraging the NBC Act and the Nigeria Broadcasting Code to impose fines on media outlets and broadcast stations in the country. The court determined that the NBC does not possess the authority to impose penalties, suspensions, or revoke licenses of media houses for facilitating access to a variety of information on matters of public significance. Previously, in 2022, the NBC had imposed a fine of N5 million each on several media outlets, including Trust TV, Multichoice Nigeria Limited, NTA-Startimes Limited, and TelcCom Satellite Limited, due to their documentaries addressing terrorism in Nigeria. In a statement released on Sunday, Kolawole Oluwadare, the deputy director of SERAP, urged President Bola Tinubu to ensure the NBC complies with the court’s ruling. He concluded, “The prompt enforcement and implementation of this judgment will signify a triumph for the rule of law, freedom of expression, and media freedom in Nigeria.”
Source:The North Africa Journal
November 18, 2024 14:15 UTC
10 startups selected for Africa final of Latitude59 pitch competition
Ten startups have been selected for the African final of the Latitude59 competition, the winner of which will head to Tallinn, Estonia to pitch at the main event for a prize pool of EUR1 million (US$1.1 million). Disrupt Africa reported last month Latitude59 was seeking early-stage startups from across Africa to compete for the chance to pitch at the next edition of its pitch competition, which will take place at next year’s edition of the event. For two years in a row, the prize pool for the Latitude59 pitch competition has been EUR1 million (US$1.1 million). A total of 382 applications were received from 37 African countries, with the top 10 now selected. They will pitch at an event in Kenya on November 28, where the African winner will be chosen.
Source:The North Africa Journal
November 18, 2024 13:30 UTC
First Known Bird Extinction From Mainland Europe, North Africa, And West Asia Declared
The era of human-induced extinctions has a new victim: a migratory shorebird called the Slender-billed Curlew (Numenius tenuirostris) has been declared almost certainly deceased. Like many migratory birds, the Slender-billed Curlew once bred in Siberia during the brief, but very productive, summer. When other birds flew south to the tropics or even Australia, this curlew species spent its winters around the Mediterranean. In general, Mediterranean birds have been doing better, perhaps because they had more time to adjust to the growth of human civilization on its banks. “Just as carbon in the atmosphere is a measure of international efforts to combat climate change, the status of migratory species is an indicator of the success of international efforts to conserve biodiversity,” she said.
Source:The North Africa Journal
November 18, 2024 13:16 UTC
Social media and the mental health of university students in Sub-saharan Africa - BMC Public Health
This study sought to investigate the factors responsible for mental health challenges amongst university students using social media across Sub-Saharan Africa. To achieve this, the relationships between Outcome expectations, External locus of control and Mental health of university students using social media were analyzed. Thus;H2External locus of control affects the mental health of university students using social media in Sub-Sahara Africa. These were; Using social media on mental health-related matters makes me more acceptable amongst my peers (Factor loading = .956); Using social media on mental health-related matters makes me a better person (Factor loading = .934); I will not be punished by my family if I use social media on mental health-related matters (Factor loading = .933); I will not be rejected by my peers if I use social media on mental health-related matters (Factor loading = .847); My peers will trust me if I use social media on mental health-related matters (Factor loading = .799). H2External locus of control affects the mental health of university students using social media in Sub-Sahara Africa.
Source:The North Africa Journal
November 18, 2024 13:13 UTC