NEWS: 11.10.2022

Printer Friendly, PDF & Email

November 10, 2022

Investments for women in digital finance

According to the United Nations Economic Commission for Africa (ECA), Africa must invest in science, technology, engineering, and mathematics (STEM) education for women and girls, in order to boost their economic empowerment and access to digital finance. Women and girls face deep barriers in financial inclusion because they do not have the requisite skills and knowledge that STEM careers avail. Tied to its mandate, the ECA was providing technical support to member countries in promoting women empowerment through policy implementation and the transformation of the financial system. Furthermore, the ECA is working with the African Union Commission in a campaign on financial inclusion for women.

Kenya Airways pilots call off strike

Patrick Nzabonimpa from the New Times shares that the Kenya Airline Pilots Association (KALPA) has called off their strike. Transport Cabinet Secretary Kipchumba Murkomen noted that a prolonged strike would have not only forced the closure of the airline but also negatively impacted over 18,000 lives that depend on the airline. Anna Mwaure, Kenya’s Labour Relations Court judge on Tuesday ordered "the Kenya Airways pilots to resume their duties as pilots by 6am on November 9, unconditionally." Kenya Airways welcomed the court's decision.

DR Congo's 'accidental' violation of Rwandan airspace questioned

According to Carine Ndahiro from the New Times, Leonard Maumo, a Professor of International Relations and Foreign Policy at the United States International University in Nairobi, has weighed in on what the DR Congo's recent violation of Rwanda's airspace may mean. Recently, a Sukhoi-25 fighter jet belonging to the DR flew over Rwandan airspace and briefly landed at Rubavu Airport before returning to the DR Congo. According to Maumo it is hard to determine whether the DR Congo's act was deliberate or accidental, especially at such a time when the two countries are not on good terms. Evode Kayitana, a Rwandan criminal law expert told the New Times that the DR Congo's plane landing on Rubavu Airport could be looked at as a minor violation under normal circumstances, but due to the fact that the DR Congo has been threatening Rwanda, it should be considered as a provocation.

Rwanda and Barbados aviation deal

Edwin Ashimwe from the New Times shares that Rwanda and Barbados have signed a Bilateral Air Service Agreement (BASA) that will see both countries opening skies for each other’s commercial airlines. The two countries cited the need to strengthen cooperation in the aviation industry and promote trade and hospitality between both countries.

Glencore fined over bribery

According to Andrew Mizner from African Law and Business, the mining giant Glencore has been ordered to pay $320 million as punishment for widespread bribery in West Africa. It is the first time a company has been directly convicted of substantive bribery charges. Mr. Justice Peter Fraser of the United Kingdom indicated that the sum was intended to deter other companies from similar tactics, saying: “This is a significant overall total. Other companies tempted to engage in similar corruption should be aware that similar sanctions lie ahead.”

Japan Turns on Investor Taps In Africa

Japanese Prime Minister Fumio Kishida sought to provide African countries with an alternative to Chinese lending and investment, pledging to spend $30 billion on the continent and stressing a focus on training African professionals, food production and green growth. According to AllAfrica, Japan pledged the money as Africa bears the brunt of the disruptions caused to the global supply chain and inflationary prices. During Tokyo International Conference on African Development (TICAD), Japan also announced that some $1 billion would go toward support for African countries' debt restructuring and promised that Japan "aspires to be a 'partner growing together with Africa.'"

What Does the African Free Trade Agreement Hold for Women?

The AfCFTA holds great potential by creating the largest free trade area in the world. According to AllAfrica, it connects 55 countries, bringing together 1.3 billion people and a combined gross domestic product valued at $3.4 trillion. Jemimah Njuki writes that Africa has the highest rate of female entrepreneurs globally with approximately 26% of female adults involved in entrepreneurial activity contributing between $250 and $300 billion to African economic growth in 2016, equivalent to about 13% of the continent's GDP. However, women earn on average 34% lower profits than men. The President of Tanzania, H.E Samia Suluhu, and the AfCTA secretariat aim to help the AfCFTA work better for women and youth and fill this pay gap.