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Following are UN Deputy Secretary-General Amina Mohammed’s remarks, as prepared for delivery, at the Africa Regional Forum on Sustainable Development, in Kigali, Rwanda, today:

I am pleased to be with you today for the opening of the Africa Regional Forum on Sustainable Development.

We are meeting at a crucial time when our ability to achieve the goals we set for ourselves in the 2030 Agenda [for Sustainable Development] and [the African Union’s] Agenda 2063 hangs in the balance.

The COVID-19 pandemic has brought havoc to our societies and economies.  Hunger and poverty are increasing for the first time in a generation.  One in two students in Africa suffered learning losses during the pandemic.

Over 700 million people across the continent still have no access to the internet.  Slow and fragile progress towards gender equality risks going into reverse.  The climate crisis, biodiversity loss and pollution are destroying lives and livelihoods at an unprecedented rate.

Momentum towards an inclusive and sustainable recovery is thwarted by inequalities in access to COVID-19 vaccines and access to finance.  Ongoing conflicts and insecurity are also serious obstacles.  And now the conflict in Ukraine is further destabilizing a global economy still reeling from the pandemic.

The 2030 Agenda and Agenda 2063 — together with the Secretary-General’s report on Our Common Agenda — remain our best blueprints to successfully confront the challenges we face.  This eighth session of the Africa Forum on Sustainable Development presents an important opportunity to focus our energy on implementation and chart an ambitious path forward.

There is solid ground to build on.  The fact that we can again meet in Kigali today is testament to Africa and Rwanda’s resilience and the leadership of his Excellency President [Paul Kagame of Rwanda] and other leaders across the continent.  I want to highlight five priorities to help inform your deliberations.

First, we must end the acute phase of the pandemic and build resilience against the next outbreak.  Through the COVAX Facility, the African Union is on its way to securing over half a billion vaccine doses.  But, despite these tremendous efforts, high-income countries have administered 13 times more doses per person than low-income countries.  Vaccinating 70 per cent of the world by July this year remains our primary objective.

We must also build stronger and more resilient health systems by investing in primary health care and health surveillance systems, as well as greater production of vaccines, diagnostics and treatments.  The actions taken by the African Vaccine Acquisition Task Team and national agencies are important steps in this regard.

In all of this, we will build on the global legacy of Paul Farmer.  His sudden death last month leaves a void in the global health community and I want to take this opportunity to honour his memory.  I also know this is indeed a personal loss to President Kagame and the people of Rwanda due to his special bond with and phenomenal public health contribution to the country.

Second, we must scale up and speed up investments in the protection of people and ecosystems at the front lines of the climate crisis.  The Intergovernmental Panel on Climate Change (IPCC) report on adaptation released just days ago is a damning indictment of failed climate leadership.

Extreme weather is destroying crop yields, eroding food security and overwhelming our infrastructure.  Developed countries must urgently deliver on the commitment they made at the [twenty-sixth Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26)] in Glasgow to double adaptation finance to at least $40 billion per year by 2025.  Regional and multilateral development banks must scale up their renewable energy and resilient infrastructure portfolios and mobilize more private finance.

At the United Nations Environmental Assembly in Nairobi, I witnessed the resolve of Member States and other stakeholders to tackle environmental issues and other challenges to global governance, by embracing a more inclusive multilateralism, in line with the vision outlined in the Secretary-General’s report on Our Common Agenda.  I hope we can demonstrate similar resolve in support of the Egyptian presidency of the next climate conference — COP27, the African [Conference of the Parties].

Together with [the fifteenth session of the Conference of the Parties to the United Nations Convention to Combat Desertification (COP15)] in Abidjan, the United Nations Ocean Conference and the Stockholm+50 meeting, we will have many opportunities to build a resilient future.

Third, we must supercharge just transitions in energy, food systems and digital connectivity.  We need a just energy transition that allows Africa to access clean and affordable energy while protecting livelihoods.

The Just Energy Transition Partnership launched at COP26 to support South Africa set a valuable precedent for international collaboration.  We need sustainable and resilient food systems which guarantee access to healthy diets and nutrition for all, while restoring and protecting nature.

The United Nations Food Systems Summit in September 2021 and the creation of the Food Systems Hub in Rome are essential steps aimed at supporting countries in this critical transformation.

We need affordable connectivity and digital skills to create more job opportunities for young people.  The [launch of the] Internet Governance Forum in Addis Ababa later this year will also be an important milestone in this regard.

Fourth, we must recover the huge learning losses of the pandemic by advancing education and life‑long learning.  Education is the bedrock of all successful economies.  Today, however, it is under enormous strain.

Rwanda and many other African countries have made great strides in education outcomes.  But, despite important achievements, conventional education systems everywhere are struggling to equip learners with the knowledge, skills and values needed to thrive in our rapidly changing world.  In developing countries especially, the pandemic risks causing a generational catastrophe.

That is why the Secretary-General is convening the Summit on Transforming Education this September.  The Summit will seek to renew our collective commitment to education as a pre-eminent public good and mobilize the action, ambition, solutions and solidarity needed to transform education.  I count on African Governments and leaders to embrace the Summit as a critical opportunity to project forward the education systems envisaged under Agenda 2063.

Fifth, we need to accelerate gender equality and economic transformation.  Over 70 per cent of people across Africa — the majority of them women — continue to earn their livelihoods in the informal economy, which is an afterthought in economic strategies and metrics.  Robust and decent job creation must be matched by the achievement of universal social protection.

The Global Accelerator for Jobs and Social Protection launched in September 2021 is central to these efforts, aiming to create 400 million decent new jobs in the care, green and digital sectors, and expand social protection to half of the global population by 2030.

Achieving gender equality and [Sustainable Development Goal] 5 requires ambitious action from all of us.  Together, I hope we can implement the five transformative recommendations of the Secretary-General, namely:  repealing all gender-discriminatory laws; promoting gender parity in all spheres and at all levels of decision-making; facilitating women’s economic inclusion; ensuring greater inclusion of the voices of younger women; and following through on an emergency response plan to prevent and end violence against women and girls.

The fate of the Sustainable Development Goals will be decided in Africa.  To succeed, Africa must have the financial resources to invest in a better tomorrow.

We are far from where we need to be.  Debt to gross domestic product (GDP) ratios have risen to almost 70 per cent.  Today, 17 African countries are at high risk of debt distress, and four are already in debt distress.  The Secretary‑General has appealed for a serious reform of the international financial architecture, which shamelessly favours the rich and punishes the poor.

The Economic Commission for Africa’s (ECA) Liquidity and Sustainability Facility is an important partnership with the private sector to increase liquidity for sustainable investment in Africa.

We also need to ensure that finance is invested in the real economy.  Special drawing rights should be re-channelled to countries most in need and invested in universal social protection as well as the green, digital and health‑care economies.  The African Continental Free Trade Area can be a game‑changer for Africa’s sustainable development ambitions.

The goal of $100 billion a year in climate finance must be met starting this year, and quickly scaled up.  Crucially, countries in need must be able to access this money.  That is why we are pushing for urgent reforms of the access and eligibility systems.

Together with the African Union, the repositioned United Nations development system is mobilizing to deliver expertise, convening power and skillsets.

At last week’s meeting of the Regional Collaborative Platform, we agreed on an ambitious workplan and concrete deliverables.  We also committed to support further investments in better data and national data ecosystems as crucial tools to inform policy and programmes and measure progress towards the [Sustainable Development Goals].

The challenges ahead are significant.  But, together, we can — and we will — succeed in building a better future for all.  The United Nations will remain your steadfast partner at this pivotal moment. - United Nations

Knight Frank’s Wealth Report Editor Andrew Shirley during the launch of the Wealth Report 2020 at a Nairobi hotel on March 4, 2020. PHOTO | FILE | NMG/Photo Courtesy NMG

The 2022 Knight Frank Wealth Report said 39 more Kenyans joined the rank of the world’s High Net Worth Individuals (HNWIs) with a net worth of more than Ksh113.89 million ($999,912) last year, representing a marginal 1.17 per cent rise, compared to 3,323 in 2020.

The study, however, revealed that two Kenyans last year dropped from the exclusive group of Ultra High Net-Worth Individuals, who are worth more than Ksh3.4 billion ($29.8 million), cutting their number to 88.

In an interesting twist, many rich Kenyans are eyeing a second nationality to boost their access to markets with favourable tax regimes, quality healthcare and better education.

“Among Kenyans seeking new passports, the proportion interested in reducing their tax bills, enhancing their safety or getting a better quality of life is much the same as for the wealthy globally,” Andrew Shirley, editor of The Wealth Report at Knight Frank, said.

He added: “The big difference for Kenya’s dollar millionaires is the proportion of new nationality applications for investment purposes, and in pursuit of better education and better healthcare for themselves and for their families.”

Dollar-millionaire Kenyans

Meanwhile, 34 per cent are seeking better healthcare, compared to 13 per cent worldwide.

This balance of motivations contrasts with the rest of Africa, where 63 per cent of the HNWIs applying for second nationalities are seeking safety and a better life.

Recent surveys by the Central Bank of Kenya have shown that a majority of company chief executives in Kenya believe the high cost of doing business and taxation posed the biggest threat to their operations. This could explain the intentions of the dollar-millionaire Kenyans to seek alternative markets for their businesses.

Kenyan millionaires hold an unusually high proportion of their assets in their own country, owning an average of just 19 per cent of their property portfolio overseas, compared with an average of 32 per cent across all HNWIs.

“Overall, the shift to nationality applications driven by the principle aim of investment and from an established platform of preference for property ties in with the interest by Kenya’s wealthy in owning properties overseas. Their long-standing preference for investing in property at home is now extending to real estate investments in the US, UK, Australia and the UAE,” said Mr Shirley.

The report stated that Kenyan HNWIs are far more likely to be residential and commercial landlords than average.

“This difference is most notable in commercial property investments, accounting for around 49 per cent of the wealth held by Kenya’s most wealthy individuals, but only around 27 per cent of the assets of the wealthy worldwide,” Knight Frank’s said in its report. By Brian Ambani, The East African

Vice President of Equatorial Guinea Toedoro Nguema Mangue (left) and President Museveni at State House Entebbe on Tuesday. PHOTO/PPU/Photo Courtesy

President Museveni on Tuesday received a special message from President Teodoro Obiang Nguema Mbasogo of the Republic of Equatorial Guinea. 
The Vice President of Equatorial Guinea Toedoro Nguema Mangue delivered the message to President Museveni at State House Entebbe.
The two leaders later discussed various issues affecting their respective countries and the continent including strengthening their cooperation in peace, security and social economic transformation, saying problems in Africa can be defeated if they all worked together. 

“I thank my brother for sending you. Capacity building is very essential and Uganda is willing to cooperate with Equatorial Guinea. When fighting Idi Amin, I trained 28 young people in Mozambique. They became the core of our army who trained others,” President Museveni said.
The President said Uganda is on the frontline in fighting hostile groups.    

“We want to help but also teach a lesson that Africa belongs to Africans. The problem is the politics and a wrong type of army that is not oriented to fight and defend their country and defend it cheaply,” he said.


Uganda is already supporting Equatorial Guinea in building capacity and professionalisation of the West African nation’s army. Vice President Toedoro Nguema Mangue, who was on a two-day working visit to Uganda, commended President Museveni for his support to Equatorial Guinea and Africa. He said the current global changes and instability in parts of Africa are a challenge to the continent. By MONITOR REPORTER, Daily Monitor

Verve and KCB Bank Uganda Limited (KCB Bank) have announced a new phase of their partnership, which will see KCB Bank become one of the first commercial banks to accept the Verve Card on its widespread and strategically distributed Point of Sale (POS) merchant network.

Head of Products and Operations at Interswitch East Africa, Uganda Limited, Damalie Sajjabi, while speaking about the new development in the partnership said:

“The Verve Payment Scheme entered the Ugandan market to provide flexible, customized and cost-effective tokens to financial institutions. Verve Card acceptance at KCB POS locations is the next phase in our journey of easing accessibility of payment services for all Verve Card holders and the other financial institutions which join the Verve family.” 

Also speaking at the launch of the partnership, KCB Bank Uganda’s Head of Retail Banking, Mr. Michael Ssekyondwa, noted that the partnership is aligned with KCB’s agenda to drive digitally led products and services to ease the lives of customers. This arrangement further highlights KCB Bank’s focus to provide innovative banking solutions across Uganda. By Nosa Alekhuogie, ThisDayLive

 

KAMPALA, March 2 (Xinhua) -- Uganda's economy showed signs of recovery in the first half of the 2021/22 financial year despite the impact of new COVID-19 variants during the period, according to the country's ministry of finance Wednesday.

The ministry of finance in its half-year economic report, spanning July 2021 to December 2021, said high-frequency indicators of economic activity reflected continued recovery in business activity.

The indicators including the Composite Index of Economic Activity (CIEA), Purchasing Managers Index (PMI) and the Business Tendency Index (BTI) showed that although there was a bit of economic struggle during the month of July as the economy had just emerged from the second lockdown, the economy bounced back in the months that followed.

The CIEA on average grew at 5 percent compared to the same period the previous year while the PMI and the BTI both recorded indices above the 50-mark threshold from August to December 2021 as the gradual easing of the June-July lockdown measures led to growth in output and new orders. The threshold of 50 is a baseline to indicate an increase or a decline in business conditions.

The report showed that the first quarter of the financial year registered economic growth of 3.8 percent, reflecting an improvement in the gross domestic product (GDP) from the same quarter of the previous financial year. This is attributed to increased growth momentum in both the industry and services sectors.

The services sector grew by 7.9 percent compared to negative growth of 4.5 percent in quarter one of the previous financial year while the industry sector grew by 0.3 percent compared to negative growth of 2.7 percent in quarter one of the previous financial year. The agricultural sector continued to grow although at a slower pace of 3.6 percent compared to 6.8 percent in the same quarter of the previous financial year.

The report projected that the economy will grow at 3.8 percent this financial year from 3.4 percent registered in the previous year. This is on account of the expected recovery in production, aggregate demand and trade following the full reopening of the economy in January.

Growth will also be driven by government policy interventions such as support to small businesses as well as an accommodative monetary policy.

"The anticipated global recovery is expected to boost Uganda's international trade further supporting economic growth," the report showed.

The global economy is projected to grow at 5.9 percent in 2021 and 4.4 percent in 2022 from the negative 3.1 percent in 2020, as vaccination and policy support continue, said the finance ministry, warning new variants of the COVID-19 virus, associated lockdown measures and supply chain disruptions would pose concerns for the outlook. - Xinhua

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