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September 2022 | Johannesburg
Herbert Smith Freehills ESG Tracker (SADC Edition)
There are so many ESG-related publications and developments that it is hard to keep abreast of them all. For this reason, HSF publishes a monthly tracker of ESG-related publications and developments, with a primary focus on developments that may be of most interest to or impact our clients in the Southern African Development Community, be they corporates, asset managers or asset owners.
If you have any ESG-related questions, please get in touch with your usual contact at HSF who will be able to direct you as appropriate.
This issue covers the period from 1 to 30 September 2022.
ANGOLA
1 September 2022
It is reported that the new Angolan Code of Administrative Procedure ("New CPA") was published in the Official Gazette on 30 August 2022. It repeals the Decree Law-Law 16-A/95 of 15 December, which had approved the Rules of Administrative Procedure. The new CPA aims to renew the administrative procedural rules and to reform the actions of the Public Administration and its relationship with private individuals to this new constitutional and legal context.
7 September 2022
With its abundance of arable land and a diversity of climatic conditions that are suitable for producing a variety of agricultural products, Angola may soon be known as an agricultural powerhouse on the African continent. Angola was a major producer and exporter of agricultural products, including coffee, cotton, and bananas before the civil war (19752002)
which led to the collapse of commercial agricultural production, and Angola's agricultural potential has remained untapped since then. Only 10% of the 35 million hectares of the country's arable land y is currently being cultivated. Agriculture's share of Angola's economy has grown rapidly, averaging 4.9% a year, and leading to agriculture's share of GDP increasing from 5.8% to 10% of Angola's GDP during 20112017. Similarly, irrigation, which currently plays a modest role in Angola, offers great potential for supporting climate resilience in the agricultural sector against water-related risks.
8 September 2022
Angola surpassed Nigeria as Africa's largest crude producer for the first time since April 2017. Angola's average daily output of 1.17 million barrels in August was more than Nigeria's at 1.13 million barrels, according to Bloomberg's survey of monthly output of the Organization of the Petroleum Exporting Countries (OPEC). Nigeria's production has declined steadily since 2020 reaching
multi-decade lows this year. The Nigerian government has blamed high levels of theft on the Niger Delta pipelines.
BOTSWANA
28 September 2022
Botswana President Mokgweetsi Masisi commissioned a new 1.4 million tonne per year coal mine at state-owned Morupule Coal Mine (MCM), aiming to increase exports after demand for the fuel boomed since the start of the war in Ukraine. Many European and Asian countries are scrambling for alternative sources of fuel given the global energy crisis, and Botswana wants to become a key coal producer having already increased sea-borne exports in 2022 through Maputo and Walvis Bay. Despite the country's estimated 212 billion tonnes of coal resources, MCM was Botswana's only operating mine until Minergy Ltd commissioned a new one in 2019 with an annual capacity of 1.2 million tonnes. The new open cast mine, which will boost MCM's
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output by 50% to 4.2 million tonnes per annum, is part of its strategy to supply various markets with a cumulative total of 7.6 million tonnes of coal a year by 2027, growing revenue to 3 billion pula ($222.6 million) from the 1 billion expected in 2023. MCM currently produces 2.8 million tonnes of coal a year from its underground operations, feeding two nearby state-owned power stations and exporting to South Africa, Namibia and Zimbabwe.
28 September 2022
Botswana has resumed exports of live cattle and beef from areas declared free of foot and mouth disease (FMD). However, sales to Europe, which has tougher import restrictions, remain suspended. This follows the August suspension of Botswanan beef exports following an outbreak of foot and mouth disease in one of its disease control zones in the northeast of Botswana. The slaughter of cloven-hoofed animals from the zone remains suspended but sales and exports from the rest of the country have opened up again, subject to conditions set by importing countries. Apart from the EU, Botswana exports beef and live cattle to Zambia, Zimbabwe, Namibia and South Africa, which are also affected by sporadic outbreaks of foot and mouth disease.
DEMOCRATIC REPUBLIC OF CONGO
26 September 2022
The auctioning of oil and gas blocks in the DRC has stirred resistance and concern among local indigenous communities worried about damage to their homes and large swathes of forest, according to a report released on 29 September by several environmental groups. In late July, the Congolese government put 30 oil and gas blocks in the country up for auction with 13 blocks affecting protected areas and national parks, causing uproar among environmentalists. The Congo Basin forest absorbs an extraordinary 1.5 billion tons of carbon dioxide about 4% of global emissions some of which would be released into the atmosphere if the areas are cleared for oil and gas drilling. The report comes just days before the DRC government is set to co-host with Egypt a meeting on climate change in the capital Kinshasa. But concerns about the blocks extend well beyond the increase of greenhouse gas emissions, the report said. Recent hostile relations between DRC and its neighbours, especially Rwanda, could escalate, as 18 of the proposed oil blocks are in the borderlands shared by DRC, Rwanda and four other nations.
KINGDOM OF ESWATINI
26 September 2022
It is reported that officials from the Eswatini Environmental Fund (EFF) discussed with Environmental Investment Fund of Namibia (EIF) the possibility of future agreements geared toward ensuring environmental sustainability with Environmental Investment Fund of Namibia. The funds emphasised the importance of protecting the environment and ensuring the citizens of the two countries use their resources productively. The sessions provided a platform for the two institutions to engage on opportunities and challenges pertaining to their respective institutional set-ups with a view to documenting best practices and lessons learned. The two entities also emphasised the need for a partnership so that the shared resources can be mutually beneficial. The head of the EEF delegation said the EEF attended to learn from EIF because it is one of the best examples to learn from and therefore Africans do not always have to go outside the continent to benchmark.
MAURITIUS
14 September 2022
The Comprehensive Economic Cooperation and Partnership Agreement (CECPA) offers new opportunities for trade, investments, and services activities between Mauritius and India and can accelerate economic growth, said Mauritian Prime Minister Pravind Kumar Jugnauth. "The CECPA will act as a support to Mauritius in the wake of ongoing global challenges, Jugnauth said, adding that, "India has been a partner and a friend like no other to Mauritius." as he launched the CECPA forum in Pointe aux Piments. During the event being held to commemorate the 75th anniversary of the establishment of diplomatic relations between India and Mauritius, PM Jugnauth expressed gratitude to the Government of India and Prime Minister Narendra Modi for his unwavering commitment to making the trade pact CECPA a reality, which he emphasised is the first Agreement that India has signed with an African country. "The CECPA forms part of a broader strategy between the Governments to broaden our economic horizons and plays an integral part in facilitating cross-border trade and investment," he stated.
MOZAMBIQUE
9 September 2022
The EU Political and Security Committee approved the provision of EUR 15 million in support of the Southern African Development Community (SADC) mission to Mozambique
(SAMIM). The EUR 15 million will provide the military component of SAMIM with collective equipment at company level: camp fortifications and storage containers, medical equipment, vehicles and boats, as well as technological devices. This is in addition to the ongoing assistance of EUR 89 million to the Mozambican Armed Forces which provides equipment and supplies not designed to deliver lethal force to the Mozambican military units trained by the EU Training Mission in Mozambique.
This decision complements the EU support for SAMIM's peacebuilding activities, totalling EUR 1.9 million for the period March-September 2022. By providing this support, the EU joins Mozambican and international efforts to restore peace, safety and security in the North of Mozambique, protect the civilian population, and allow for the return of internally displaced persons, accountable law enforcement, state structures and services to the area.
27 September 2022
It has been reported that Mozambique and Tanzania plan to interconnect with a 400kV transmission line, following an announcement made by Electricidade de Mocambique (EDM) during the visit of Tanzanian president, Samia Suluhu Hassan. "We have been talking with Tanzania in order to establish a transmission line between the two countries, taking into account the natural resources we have. The idea is for an interconnection from Toa Re, in Tanzania, to Palma, in Mozambique," said Marcelino Gildo Alberto, the chairman of the board of directors of EDM. The EDM chairman said there is already an agreement between the two countries, and all that is lacking is an understanding on the part of the state-owned companies responsible for implementing the project. He added, "The project already has US$2 million in funding and should benefit both nations."
29 September 2022
It has been reported that the Government of Mozambique, through the Ministry of Mineral Resources and Energy, has concluded the pre-qualification of seven potential investors for the development of the 1500MW Mphanda Nkuwa Hydroelectric Project on the Zambezi River in the Western Province of Tete. The Ministry is set to hold a technical, interactive session conference during the first week of October to clarify project and tender issues.
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NAMIBIA
12 September 2022
It has been reported that the governments of Namibia and Botswana have agreed to abolish the use of passports for travel between the two countries. One of the main initiatives of the African Union's Agenda 2063, which aims to remove barriers to Africans' freedom of movement, employment, and residence on their continent, is the free mobility of Africans within it. Nationals of Namibia and Botswana will no longer require passports to travel between the two nations after the presidents of those nations decided to open their borders to one another. The declaration was made at the opening ceremony of the Botswana-Namibia binational commission at the Gaborone International Convention Centre by Namibian President Hage Geingob. He called on senior officials to fast-track the implementation of the use of identity documents as travel documents between the two countries.
SEYCHELLES
8 September 2022
To mitigate the impact of the rising cost of living the Seychelles government will control prices for Seychelles Trading Company (STC) sold products. As of October 1, 2022, commodities classified as category one will have a maximum retail price (MRP), which will remain for one year. Category one commodities are more commonly known as essential commodities and are imported by the STC. For the next year, these commodities will have to be sold at a price no higher than that set by STC. The commodities under this category include sunflower oil, rice, sugar, milk powder, lentils, salt, margarine, flour, toilet paper, infant formula, onions, potatoes, apples and oranges. The MRP will only affect the brands imported by STC and will not affect those imported by other wholesalers and retailers in the country. The Fair Trading Commission will be tasked to ensure that all retailers respect the MRP when it comes into effect on October 1.
SOUTH AFRICA
2 September 2022
On 2 September 2022 the Minister of Mineral Resources and Energy published draft amendments to Schedule 2 of the Electricity Regulation Act, 2006 for public comment. The main change proposed by the Notice is to remove the current 100 MW licensing threshold in item 3.1 of Schedule 2 by exempting generation facilities, with or without energy storage, of unrestricted capacity, with a point of
connection on the transmission or distribution power system, from the need to obtain a licence. The proposed exemption would apply in circumstances where: (i) the generation facility is operated to supply electricity to one or more customers and there is no wheeling of that electricity; (ii) the generation facility is operated to supply electricity to one or more customers by wheeling and the generator has entered into a connection agreement with the holder of the transmission or distribution licence in respect of the power system over which the electricity is to be wheeled; or (iii) the generation facility has a connection point but neither exports nor imports any electricity onto or from the transmission or distribution power system. Such generation facilities would still be required to comply with the Code (ie the distribution or transmission grid code) and to register with the National Energy Regulator of South Africa (NERSA).
Interested parties were invited to submit their comments by 2 October 2022
2 September 2022
On 2 September 2022 the Code of Good Practice: Protest Action to Promote or Defend the Socio-Economic Interests of Workers was issued by the Executive Director of National Economic Development and Labour Council (NEDLAC). Published in line with section 77 of the Labour Relations Act 66 of 1995, the Code is intended to provide practical guidance to those who engage in discussions concerning the promotion or defence of the socio-economic interests of workers and the resolution of these matters through facilitation, conciliation, mediation or protest action.
8 September 2022
On 8 September 2022 the Minister of Forestry, Fisheries and the Environment (DFFE) published a notice excluding the development and expansion of solar photovoltaic facilities, including any associated activity or infrastructure from the requirement to obtain environmental authorisation in terms of the National Environmental Management Act 107 of 1998 (NEMA). The proposed exclusion for solar photovoltaic facilities presents opportunities for independent, small-scale power producers and is considered a step towards reaching South Africa's commitment to energy transition and to securing energy security.
Interested parties were invited to submit their comments by 8 October 2022
8 September 2022
On 8 September 2022 the Municipal Fiscal Powers and Functions Amendment Bill was introduced in the National Assembly where it is under consideration. The bill seeks to amend
the Municipal Fiscal Powers and Functions Act, 2017, so as to, inter alia, regulate the power of municipalities to levy development charges, set out the permissible uses of income from development charges, provide for municipal development charges policies and provide for the consequences of non-provision of infrastructure by a municipality.
9 September 2022
On 9 September 2022 the National Minimum Wage Commission gazetted an invitation for written representations concerning possible adjustments to the national minimum wage.
Interested parties were invited to submit their comments by 1 October 2022
13 September 2022
The National Council of Provinces, in partnership with the South African Local Government Association (SALGA), hosted Local Government Week under the theme of "Advancing Our Collective Effort to Enhance Oversight and Accountability in the Local Sphere of Government". Attended by parliamentarians, senior members of the national and provincial SALGA leadership, Cabinet Ministers, Premiers, MECs, Mayors, Councillors, the Auditor-General, independent analysts and strategic entities, it involved discussions, debates and workshops about accountability at a local government level.
14 September 2022
The Minerals Council South Africa has asked for changes to the South African government's proposed update of its carbon tax including slower implementation and a revised carbon tax rate. The submission was made jointly with the newly established Energy Council, Business Leadership South Africa and the Energy Intensive Users' Group, among others, and refers to Government's Carbon Tax proposals of the Taxation Laws Amendment Bill (TLAB). The Council said the South African economy could not "accommodate the steepness" of the proposed expansion of phase one of the tax in which the carbon tax rate of a minimum $1 per ton from 2023 to 2025 increases to $20 in 2026 and at least $30/t by 2030. It proposed instead that annual carbon tax increases continue to be based on the current Consumer Price Index plus 2% structure until at least 2030. The Minerals Council also asked that energy efficiency allowances which will expire by 2025 under the TLAB, be retained. The Council also called for additional allowances on the basis that in other economies industry is provided with indirect compensation, subsidies, ring-fencing of carbon tax revenues and funding support for technology roll out, research and development. Critically, the request proposes that the higher carbon tax should only be considered after 2035 in
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conjunction with a detailed analysis of "viable mitigation and socio-economic considerations".
14 September 2022
On 14 September 2022 the Portfolio Committee on Transport published the Marine Pollution (Prevention of Pollution from Ships) Amendment Bill for public comment. The Bill seeks to amend the Marine Pollution (Prevention of Pollution from Ships) Act, 1986, so as to give effect to Annex IV of the International Convention for the Prevention of Pollution from Ships to incorporate the 1997 Protocol in order to give effect to Annex VI of the Convention; and to provide for matters connected therewith.
Interested persons were invited to submit their comments by 14 October 2022
15 September 2022
South Africa's Minerals Council has launched a relief fund aimed at raising R50 million for victims of the Jagersfontein tailings dam collapse on 13 September 2022 following which one person was killed and nearly 100 were injured. The owner of the Jagersfontein mine is a Dubai-based company which bought its shares earlier this year. The funds will be administered by the Minerals Council, which will be accountable to its board on how it is spent.
16 September 2022
The proposed National Water Resource Infrastructure Agency (MWRIA) Bill was published for public comment on 16 September 2022. Drafted as the Department of Water and Sanitation's (DWS) response to the country's urgent need for mega water resource infrastructure projects. the Bill's stated purpose, inter alia, is to provide for the incorporation and establishment of the South African National Water Resources Infrastructure Agency Limited as a state-owned company and major public entity owned and controlled by the State to administer, fund, finance, provide, operate and maintain advisory services in respect of national water resources infrastructure. In its briefing on the Bill, the DWS explained that it cannot raise capital directly on the financial markets and is reliant on special-purpose vehicles to finance and implement economic projects and would be able to raise commercial and development finance both domestically and internationally.
Interested persons were invited to submit their comments by 14 December 2022
21 September 2022
On 21 September 2022, Treasury rejected the plea by organised business to reduce the carbon tax rate proposed for 2026 and 2030 on the grounds that it is too onerous, with Treasury
director-general Ismail Momoniat saying he was concerned and "rather surprised" by the lack of vision of business and "disappointed" with its lack of leadership. He asked whether business was trying to understand the challenges faced by South Africa with regard to climate change and their own commitments to reducing carbon emissions over the next 10-15 years.
25 September 2022
It has been reported that in October the 1,000MW Komati power station near Middleburg in Mpumalanga will become the first of Eskom's old coal-fired fleet to be decommissioned. The Hendrina, Camden and Grootvlei power stations, with a combined capacity of about 4,700MW, will be shut down incrementally over the next five years. Through the decommissioning of end-of-life coal-fired power plants Eskom will retire about 22,000MW of generation capacity (about half of the current installed capacity of about 45,000MW) by 2035.
27 September 2022
On 27 September the Standing Committee on Finance invited stakeholders and interested parties to submit written submissions on the General Laws (Anti-money Laundering and Combating Terrorism Financing) Amendment Bill. The Bill aims to amend, inter alia, (i) the Trust Property Control Act, 1988, to prevent the misuse of trusts for money laundering or terrorist financing; (ii) the Financial Intelligence Centre Act, 2001, to affect certain amendments to the objectives and powers of the Financial Intelligence Centre, customer due diligence, to amend provisions relating to risk management, compliance programme and targeted financial sanctions; (iii) the Companies Act, 2008, to require that there is adequate, accurate and up-to-date information on the beneficial ownership and control of legal persons that can be obtained or accessed rapidly and efficiently by the authorities, through a register of beneficial ownership; and (iv) the Financial Sector Regulation Act, 2017, to enable the financial sector regulators to issue standards and directives in relation to beneficial owners of financial institutions.
Interested persons were invited to submit their comments by 10 October 2022
UNITED REPUBLIC OF TANZANIA
14 September 2022
The European Union parliament has passed a resolution that calls on Uganda and Tanzania to halt their proposed oil and gas project linking Lake Edward to the Tanzanian coast. The EU
Parliament has said that the construction and operational phases of the project will jeopardise water resources and harm the livelihood of farmers and tourism business owners who depend on the region's rich natural resources. The EU parliament also noted the risk that the project will endanger protected marine areas since the offshore facility will be built in a high tsunami risk zone. Despite the EU resolution, Ugandan president Yoweri Museveni has expressed that the project will continue and the oil will be extracted in 2025 as planned. Tanzania's Energy Minister has also stated that the project has been designed to minimise environmental and social impacts and will be implemented as planned.
20 September 2022
It has been reported that Tanzanian Prime Minister Kassim Majaliwa launched a 15-year fisheries master plan aimed at boosting the sector's contribution to gross domestic product from the current 1.8 percent to 10 percent by 2037. Launching the master plan in the commercial capital of Dar es Salaam, Majaliwa said the plan is scheduled to be implemented from 2021/2022 through 2036/2037 and will contribute to the growth of the fisheries sector and the blue economy. He added the newly launched fisheries master plan entailed conservation and management of marine resources and sustainable use of the resources.
ZAMBIA
6 September 2022
Zambia received a $1.3 billion bailout from the International Monetary Fund, aimed at kick-starting the country's economy and restructuring its debt. The plan allows Zambia to access $185 million. The country fell into financial distress after defaulting on its Eurobond and other external debt as a result of COVID-19. Zambia's next step is to sign a non-binding memorandum of understanding with the G-20 bilateral creditors committee, which is intended to assist countries in resolving their debt.
12 September 2022
Under the 8th National Development Plan 2022-2026, a comprehensive agriculture support programme will be implemented from the 2022/2023 farming season. Zambia projects that the agriculture sector will generate $2 billion by 2026. Over the same period, agricultural exports are also expected to increase to above $2 billion from 2026 from $756.2 million in 2021.
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Global
1 September 2022
An innovative water management tool will expand to become available around the world courtesy of a contribution from the Foreign Affairs Ministry of the Netherlands to the Food and Agriculture Organization of the United Nations (FAO). FAO has developed and used data and information presented in a portal, known as WaPOR Water Productivity through Open Access of Remotely sensed derived data to provide near real-time data that can be used for a range of applications in agriculture and water resources management. The portal presently offers data that, at the coarser resolution, covers Africa and the Middle East. The WaPOR project, centered on the database, works closely with 10 partner-countries to help build their capacity to use the data for optimizing water management and policy needs.
12 September 2022
It has been reported that fear of losing pension and other social security benefits in home countries is holding back the East African Community (EAC) from reaping the full benefits of a common market protocol that allowed free movement of labour. The EAC Secretariat says it is working on co-ordinating and extending social security coverage to migrant workers while exercising their right to free movement and living within the region. Despite the common market protocol, national laws continue to affect persons who seek employment in neighbouring countries. According to EAC Head of Labour and Immigration, Stephen Niyonzima, social security legislation in partner states needs to be progressively amended to provide for cross-border portability of benefits to guarantee decent work.
15 September 2022
It has been reported that the Nairobi Country Government will issue a Sh150 billion ($1.2 billion) green bond on the Nairobi Stock Exchange (NSE) to accelerate its green transition. The funds raised will be used to finance renewable energy, energy efficiency, sustainable transport and water infrastructure. These projects will ultimately contribute to Kenya's climate change adaption. "The exchange is ready to guide the Nairobi County Government in developing the bond," promised Kiprono Kittony, the Chairman of the NSE. If successful this financial transaction will make Nairobi the second country after Laikipia to issue a green bond in Kenya.
19 September 2022
It has been reported that the African Development Bank has released a series of toolkits to assist small and medium enterprises in tapping green investment opportunities contained in countries' Nationally Determined Contributions (NDCs) under the Paris Agreement. The toolkits, released under the Bank's Private Sector Investment Initiative for NDCs, were launched on the sidelines of Africa Climate Week, which took place in Libreville, Gabon, from 29 August to 2 September. The package comprises toolkits on climate risk screening and opportunity assessment tool, business carbon footprint tool, and a guidance note on mainstreaming climate and green growth into banks line of credits. They will help strengthen the capacity of financial institutions and small companies to invest in climate action under the NDCs. Dorsouma Al Hamndou, African Development Bank Officer in charge of Climate Change and Green Growth, said the toolkits were designed to promote the integration of climate actions into private and financial sector lending operations in African financial institutions.
21 September 2022
On 21 September the U.S. Senate, with strong bipartisan support, gave advice and consent to ratification of the Kigali Amendment to the Montreal Protocol on Substances that Deplete the Ozone Layer. The United States will soon join 137 other countries that have already ratified the Kigali Amendment, which calls for a gradual reduction in the consumption and production of hydrofluorocarbons ("HFCs"), which are potent greenhouse gases. Its global implementation should avoid as much as half a degree Celsius of warming by the end of the century.
20 September 2022
It has been reported that the Federal Republic of Nigeria has committed to the Clean Energy Demand Initiative's (CEDI) goals together with its private sector partners. Special Presidential Envoy for Climate, John Kerry, joined the government of Nigeria for the signing of the Letter of Intent. The Nigerian government was represented by Minister for Environment, Mohammad Abdullahi, and seven companies to support the clean energy transition by working to procure clean energy in Nigeria. Kerry said the agreement allows the US government to assist Nigeria in developing technologies for cleaner fuel sources, including gas, wind and solar energy.
22 September 2022
It has been reported that the Board of Directors of the African Development Bank Group has approved a $20 million concessional investment to support the second phase of the Covid-19 Off-Grid Recovery Platform (CRP). The CRP is a blended finance initiative to unlock private capital for energy access companies to mitigate the negative impacts of the pandemic while advancing access to clean electricity and ensuring a green economic recovery. The Sustainable Energy Fund for Africa (SEFA), a multi-donor fund managed by the African Development Bank, will provide $7 million in financing for the expansion; the remaining $13 million will come from the Global Environment Facility (GEF), a multilateral investment fund.
20 September 2022
The United Nations Human Rights Council held an interactive dialogue with the Special Rapporteur based on his report on the implications for human rights of the environmentally sound management and disposal of hazardous substances and waste. In the discussion, speakers said the adverse impact on human rights of mercury mining, including via bioaccumulation and environmental harm, was clear and especially felt by indigenous peoples, women and girls, children and persons in vulnerable situations.
22 September 2022
It has been reported that the US is looking to help Africa process its own minerals in a bid to diversify supply chains. On 22 September 2022, on the margins of the UN General Assembly, the US met with representatives from the Democratic Republic of Congo, Mozambique, Namibia, Tanzania and Zambia to impart this message. "We've got to diversify our supply chains, and for them it's a development opportunity," said Jose Fernandez, the Under-Secretary of State for Economic Growth, Energy and the Environment.
23 September 2022
The Board of Directors of the African Development Fund and the concessional window of the African Development Bank Group awarded a grant of EUR 8.8 million to Chad. The grant is intended to implement the Economic Governance and Extractive Sector Support Project. This project will be implemented over 48 months and is aimed at improving fiscal policy implementation skills, to contribute to improving the quality of public investment spending and strengthen oversight practices, particularly in terms of auditing.
23 September 2022
It has been reported that, to mitigate unreliable and unharmonzied data in the agricultural sector in Southern Africa, the Food and Agriculture Organization of the United Nations (FAO) in collaboration with SADC have launched the inaugural SADC Agricultural Information Management System (AIMS), a platform to generate agricultural data for evidence-based decision-making for the region. The platform was developed through the project 'Support Towards Operationalization of the SADC Regional Agricultural Policy' (STOSAR) funded by the European Union.
26 September 2022
It has been reported that the Board of the East African Business Council during its 84th meeting outlined priorities set to boost
intra-EAC trade and investments. The Board urged the EAC Council of Ministers to fast track finalization of the Regional Local Content Policy and Ratification of Article 24(2) of the Protocol on the Establishment of the Customs Union to operationalize the Trade Remedies Committee to handle disputes on trade-related matters as outlined in the resolutions of the High Level Summit on Common Market Protocol held in July 2022.
27 September 2022
The World Bank launched the third edition of the annual Liberia Economic Update with the theme: "Investing in Human Capital for Inclusive and Sustainable Growth". The Liberian economy experienced strong growth in 2021. After contracting by 3.0 percent in 2020 due to the COVID-19 pandemic, growth
recovered to 5.0 percent in 2021. The economic update also reports that Liberia's Human Capital Index is as low as 0.32, performing better than only three countries in the world--out of 174 countries assessed. By 2020, the human capital gap in Liberia was mainly driven by poor education (contributing 50 percent), poor health (12 percent), and survival (7 percent). The underlying factors contributing to the country's low human capital outcomes are multiple and complex. They include weak institutions, ineffective service delivery, demographic pressures, and low and inefficient social spending. In addition, poor coordination among government agencies responsible for human capital development often results in unresponsive or suboptimal service delivery.
R ecent and upcoming HSF ESG-related publications, webinars and events:
Africa's Competitive Edge As A Clean Hydrogen Hub
Africa Merger Control Tool
ESG Tracker SADC Region August 2022
Rio Tinto's Serbian Saga Offers A Lesson In Critical Minerals
ESG Africa Conference 25-26 October 2022
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