Can Africa Succeed in Green Industrialization?

Africa could lose up to $50 billion by 2040 due to the effects of climate change, even though it emits only 4% of greenhouse gases. Africa is therefore the continent most exposed to climate change, but also the most fragile.

With repeated episodes of flooding and high temperatures forcing millions from their homes each year, economists are calling for green finance. However, the continent faces a huge challenge – the difficulty of raising green funds, although the mechanisms are in place. For example, the continent has raised only 2% of its potential in the carbon credit market and 1% in green bonds, according to the Economic Commission for Africa.

So what role can banks play in mobilizing these green funds? Economist Georges Vivien Hougbonnon believes that “as Africa industrializes, it can embark on the process of industrializing renewable energy. There are instruments, be it at the level of banks or investment funds, which are increasingly oriented towards green investments, and this is becoming a criterion in their investment decisions.

According to forecasts by the High Planning Commission, Morocco will register 3.3% growth in 2023, more timid than expected and provided that the agricultural campaign avoids the historic drought of recent years. This situation had a major impact on the agricultural exhibition, which celebrated its fifteenth anniversary in Meknes in the north of the country.

Zimbabwe. what price cryptocurrency?

The Reserve Bank of Zimbabwe offers a number of solutions to control inflation and address liquidity problems. After selling gold to the public, coins that could be used as collateral for loans and credit facilities, this month it introduced a gold-backed cryptocurrency despite reluctance from the International Monetary Fund.

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