Connect with us

News

Botswana: AfDB supports economic diversification project through FAPA

Published

on

An economic diversification project supported by the Africa Development Bank was launched in Botswana last month to strengthen the small stock, tourism and horticulture industries by improving businesses linkages particularly among small- and medium-sized enterprises (SMEs).

The Botswana Economic Diversification Project was launched on 6 February, 2020 in the capital Gaborone, with the aim of diversifying the southern African nation’s economy, which is heavily dependent on minerals, especially diamond exports.

Assistant Minister of Investment, Trade and Industry, Karabo Socraat Gare, underscored the need to diversify the economy and to improve the business climate in Botswana.

He hailed the African Development Bank for financing the project, which will, among other things, support a review of the country’s Private Sector Development Strategy.

“It cannot be more befitting that this programme is being funded by our own African Development Bank,” he said at the launch.

George Honde, Bank Lead Economist said that if successfully implemented, “support to the Botswana Economic Diversification Project will unlock a number of projects that will require both financial and technical support.”

He said the African Development Bank stood ready to work with the Government of Botswana and other private investors to provide support through both sovereign and non-sovereign lending.

The Botswana Economic Diversification Project is supported by the African Development Bank through a $1 million Fund for African Private Sector Assistance (FAPA) grant to be implemented over three years.

The project will back up to 100 high-growth SMEs selected from the small stock and horticulture sectors to enhance their production capacities, re-orient their business strategies and access wider markets for their products.

The overall goal of this technical assistance project is to assist Botswana’s government in its efforts to diversify the economy through increased competitiveness of SMEs, the engine of Africa’s economy. This will be achieved by supporting Business Botswana, a business association, to implement activities under the Botswana Private Sector Development Strategy (PSDS) which is the main framework for support to private sector development in Botswana.

More than a 100 people attended the launch in the capital Gaborone, including government officials, private sector leaders and development partners.

FAPA is a multi-donor thematic trust fund that provides grant funding for technical assistance and capacity building to support the implementation of the Bank’s Private Sector Development Strategy. The Governments of Japan and Austria, and the African Development Bank are active contributors to the fund, which to date has provided over $67 million to 83 projects in over 38 countries across Africa.

Continue Reading
Comments

Environment

2020, one of three warmest years on record

Published

on

The COVID-19 pandemic was not the only long-term crisis the world will remember from 2020. In terms of climate change, the year was also one of the three warmest on record, and rivalled 2016 for the top spot, the UN weather agency said on Wednesday. 

“The confirmation by the World Meteorological Organization (WMO) that 2020 was one of the warmest years on record is yet another stark reminder of the relentless pace of climate change, which is destroying lives and livelihoods across our planet”, said Secretary-General António Guterres

He pointed out that at 1.2 degrees of warming above pre-industrial levels, the world is already witnessing unprecedented weather extremes in every region and on every continent.  

“We are headed for a catastrophic temperature rise of 3 to 5 degrees Celsius this century”, he warned. “Making peace with nature is the defining task of the 21st century. It must be the top priority for everyone, everywhere.”  

Powerful force 

La Niña, which began in late last year, is expected to continue into the early-middle part of 2021.   

“The exceptional heat of 2020 is despite a La Niña event, which has a temporary cooling effect”, said WMO Secretary-General Prof. Petteri Taalas.  

La Niña and El Niño effects on average global temperatures are typically strongest in the second year of the event. 

“It is remarkable that temperatures in 2020 were virtually on a par with 2016, when we saw one of the strongest El Niño warming events on record”, he added. “This is a clear indication that the global signal from human-induced climate change is now as powerful as the force of nature”.  

The extent to which the continued cooling effects of La Niña this year may temporarily diminish the overall long-term warming trend remains to be seen.  

Following atypical patterns  

WMO pointed to sustained heat and wildfires in Siberia, diminishing Arctic sea ice and record-breaking hurricanes in the Atlantic as being among the climate events that most stood out in 2020.  

The UN weather agency also reminded that temperature is just one climate change indicator. Greenhouse gas concentrations, ocean heat content, global mean sea level, sea ice extent and extreme events are also factors. 

Backed by science 

WMO’s consolidated global temperature update incorporates information from five leading international sets of data.  

It also uses datasets that combine millions of meteorological and marine observations, including from satellites, with models to produce a complete reanalysis of the atmosphere.  

“The combination of observations with models makes it possible to estimate temperatures at any time and in any place across the globe, even in data-sparse areas such as the polar regions”, according to WMO.  

Looking to the future  

The Paris Agreement aims to limit global warming to well below 2°C, preferably to 1.5°C degrees, compared to pre-industrial levels. 

However, the global average temperature in 2020 had already approached the lower limit of the temperature increase that the Agreement seeks to avert.  

Moreover, there is at least a one-in-five chance that the average global temperature will temporarily exceed 1.5 °C by 2024, according to WMO’s Global Annual to Decadal Climate Update, led by the United Kingdom’s Met Office. 

The 2021 Met Office annual global temperature forecast also suggests that next year will again be one of the earth’s hottest years.  

Updating its provisional December report, WMO will issue its final publication in March, which will incorporate temperature figures, information on all leading climate indicators and selected climate impacts. 

Continue Reading

Environment

Step up action and adapt to ‘new climate reality’-Report

Published

on

Though countries have made progress in planning for climate change adaptation, there are significant financing shortfalls in getting them to the stage where they provide real protection against droughts, floods and rising sea levels, a new UN environment report has found. 

According to the 2020 Adaptation Gap Report, released on Thursday by the UN Environment Programme (UNEP), as temperatures rise and climate change impacts intensify, nations must urgently step up action to adapt to the new climate reality or face serious costs, damages and losses. 

“The hard truth is that climate change is upon us,” Inger Andersen, UNEP Executive Director, said in a news release announcing the findings. 

“Its impacts will intensify and hit vulnerable countries and communities the hardest, even if we meet the Paris Agreement goals of holding global warming this century to well below 2 degrees Celsius and pursuing 1.5 degree Celsius.” 

Global commitment needed 

Annual adaptation costs in developing countries are estimated at $70 billion, but the figure could reach up to $300 billion in 2030, and $500 billion in 2050. Almost three-quarters of nations have some adaptation plans in place, but financing and implementation fall “far short” of what is needed, according to the UNEP report. 

Stepping up public and private finance for adaptation is, therefore, urgently needed. 

“As the Secretary-General has said, we need a global commitment to put half of all global climate finance towards adaptation in the next year … this will allow a huge step up in adaptation, in everything from early warning systems to resilient water resources to nature-based solutions,” Ms. Andersen added. 

Adaptation is a key pillar of the Paris Agreement on Climate Change. It aims to reduce countries’ and communities’ vulnerability to climate change by increasing their ability to absorb impacts.  

Nature-based solutions 

The UNEP report also underscored the importance of nature-based solutions as low-cost options that reduce climate risks, restore and protect biodiversity, and bring benefits for communities and economies. 

Its analysis of four major climate and development funds: the Global Environment Facility (GEF), the Green Climate Fund (GCF), the Adaptation Fund, and the International Climate Initiative (IKI), suggested that support for green initiatives with some element of nature-based solutions has risen over the last two decades.  

Cumulative investment for climate change mitigation and adaptation projects under the four funds stands at $94 billion. However, only $12 billion was spent on nature-based solutions, a tiny fraction of total adaptation and conservation finance, it added. 

Cutting emissions will reduce costs 

Cutting greenhouse gas emissions will reduce the impacts and costs associated with climate change, according to the report. Achieving the 2 degrees Celsius target of the Paris Agreement could limit losses in annual growth to up to 1.6 per cent, compared to 2.2 per cent for the 3 degrees Celsius trajectory. 

UNEP urged all nations to pursue the efforts outlined in its December 2020 Emissions Gap Report, which called for a green pandemic recovery and updated Nationally Determined Contributions (NDCs) that include new net-zero commitments.  

“However, the world must also plan for, finance and implement climate change adaptation to support those nations least responsible for climate change but most at risk,” the UN agency added. 

“While the COVID-19 pandemic is expected to hit the ability of countries to adapt to climate change, investing in adaptation is a sound economic decision,” it said. 

Continue Reading

Africa Today

Insecurity and bureaucracy hampering aid to Ethiopia’s Tigray region

Published

on

photo: UNFPA/Sufian Abdul-Mouty

Nearly three months after the start of conflict in Ethiopia’s Tigray region, hundreds of thousands of people have yet to receive assistance, the United Nations reported on Wednesday, citing information from its humanitarian coordination agency, OCHA.

“Humanitarian assistance continues to be constrained by the lack of full, and safe, unhindered access to Tigray, caused by both insecurity and bureaucratic delays”, UN Spokesperson Stéphane Dujarric told journalists

“The UN and its humanitarian partners in Ethiopia urgently call on all parties to allow the immediate safe passage of humanitarian personnel and their supplies to the Tigray Region to be able to reach all people who desperately need assistance.” 

Over two million in need 

Mr. Dujarric said the UN continues to receive alarming reports of civilians being injured and killed in rural areas in Tigray, as well as of violations against civilians, though verification remains a challenge.  

“Aid workers have been able to deliver assistance in some areas, mainly in cities, where access has been granted by the authorities. However, the number of people reached is extremely low compared to the 2.3 million people we estimate are in need of life-saving assistance”, he said. 

The situation is particularly critical for newly displaced people and refugees, especially those who were living in two camps that remain inaccessible, according to OCHA

Humanitarians further warn that the majority of the 270,000 people receiving benefits through the Government’s Safety Net Programme have also been without assistance as banks in most rural areas have been closed since before the crisis began. 

“These are extremely vulnerable people who rely on monthly cash transfers to meet their basic needs,” said Mr. Dujarric.

Continue Reading

Publications

Latest

Trending