The last twenty years have seen a dramatic rise of 151 per cent in direct economic losses from climate-related disasters globally. In the period 1998-2017, disaster-hit countries reported direct economic losses of US$2,908 billion of which climate-related disasters accounted for US$2,245 billion or 77 per cent of the total. This compares with total reported losses for the period 1978-1997 of US$1,313 billion of which climate-related disasters accounted for US$895 billion or 68 per cent. Economic loss is one of many issues under discussion at the UNISDR Africa-Arab Platform on Disaster Risk Reduction, under way in Tunis, Tunisia this week. CNBC Africa’s caught up with Josefa Lionel Correia Sacko, Commissioner for Rural Economy and Agriculture, African Union Commission, to talk about the AU’s commitments towards Disaster Risk Reduction.
Vetiva Capital Management says although Nigeria’s total debt to GDP ratio is below the suggested prudential upper band of 40 per cent for developing economies, a higher than projected fiscal deficit, high cost of borrowing and weaker Naira may further limit Nigeria’s fiscal space and reduce the capacity to respond to the Covid-19 crisis. Mosope Arubayi, Chief Economist at Vetiva joins CNBC Africa for more.
The Covid-19 pandemic is making businesses shift their models to working remotely, thereby making authenticated identity increasingly critical to unlock financial inclusion, drive e-commerce and financial services. Esigie Aguele, CEO of Nigerian KYC start-up; Verifyme joins CNBC Africa for more.
Global engineering talent company, Andela is looking to double its talent pool and is ready to accept engineers from all African countries. Omowale David-Ashiru, Andela’s Vice President for Global Operations joins CNBC Africa for more.
Mozambique is seen as a growth potential for investment opportunities, according to the International Monetary Fund its GDP is predicted at 5.5 per cent in 2020 and inflation projected to remain low, increasing slightly to 5 per cent at the end of the year. Ettiene Erasmus, Entrepreneur of Mozambique Property Developments & Investments joins CNBC Africa for more.
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