East African Business Notifier

In December 2019, as the world was looking ahead to a new year, a novel virus was quietly spreading in China, having   most likely   made the leap from animals to humans in a Wuhan “ wet market .”  Soon, the COVID-19 pandemic would bring the world to a grinding halt, forcing billions of people into unprecedented lockdowns and shuttering economies worldwide. Five years on, we are still grappling with the effects of this “ gray rhino ”: a high-probability risk that was nonetheless neglected or ignored. What did we learn? For starters, the pandemic exposed fundamental flaws in the design of the global economy. In such a tightly interconnected world, the virus was able to  spread  globally in the space of just a few weeks, and governments, focused on short-term economic goals, were reluctant to do what was necessary to prevent or stop it.  While the World Health Organization issued  warnings , it lacked the resources or authority to take decisive action. A...

By Michael Jjingo In an age dominated by technology and digital media, instilling the love for reading and writing in children is more important than ever.  Reading and writing are fundamental skills that not only enhance academic performance but also contribute to personal growth and emotional development. Here’s how we can nurture a rich reading and writing culture among children and why it matters. Let’s introduce children to books and storytelling at an early age, and make it enjoyable for them, similar to what our grandparents did at fireplace story telling. Picture books with vibrant illustrations and engaging stories can capture their imagination and make reading a delightful experience. Make reading a regular part of their daily routine, such as a bedtime story ritual. Let’s lead by example. Children are more likely to develop a love for reading and writing if they see adults around them engaged in these activities. Demonstrate your own enthusiasm for books and writing. Do ...

During the US presidential campaign, Donald Trump  pledged  to make de-dollarization – efforts to reduce global reliance on the greenback – too costly to contemplate, vowing to impose 100% tariffs on countries that shun the currency.  But such a move, part of a broader tariff agenda that the president-elect  seems determined  to enact, would do little to stop the dollar’s demise. The greenback remains the most important means of exchange and effective store of value, making it the preferred currency for international trade and finance, as well as for foreign-exchange reserves held by central banks to ensure a steady supply of imports and insure against currency crises and macroeconomic instability.  But as the world’s economic center of gravity shifts east, de-dollarization is accelerating. The dollar’s share of foreign-exchange reserves fell from a peak of  72%  in 2002 to  59%  in 2023, driven by  increased demand  for non-tr...

It is something of a tradition every December to take stock of the year that is ending and consider what might lie ahead.  This is true on a personal level: in my family, we tend to do this around the dinner table. But it is also true more broadly, with the time of year inviting an examination of the intersection of economics, national politics, and global geopolitics. You would be forgiven if, as a starting point, you expected these three areas to be in alignment. After all, they are deeply interconnected, which suggests self-reinforcing dynamics. But 2024 brought some unusual dispersion in this relationship that actually widened, rather than narrowed, over the course of the year. Begin with geopolitics. In 2024, Russia secured a greater advantage in the Ukraine war than the consensus forecasts of a year ago anticipated. Similarly, the human suffering and physical destruction resulting from the Israel-Hamas war in Gaza exceeded most observers’ already-grim expectations, and spread...

In July, the Serbian government   reinstated   the permits for Rio Tinto’s lithium mining project, after canceling them in 2022 following public protests.  The decision triggered demonstrations, with thousands of people taking to the streets of Belgrade over  concerns  that the mine would pose a threat to water sources and public health. After all, Rio Tinto had already demonstrated its willingness to circumvent the country’s  environmental regulations . Rio Tinto has a long history of  alleged human-rights violations  and  water mismanagement and contamination  at its mines around the world. But it is not just Rio Tinto: corruption and negligence are endemic in the mining industry.  A US judge ordered Glencore to pay  $700 million  in fines for its decade-long scheme to bribe officials in several countries. Mining giant BHP and its Brazilian partner Vale are tied up in  legal battles  over the collapse of the Fu...

  Leading global iGaming brand 1win and non-profit environmental organization Recycledge will this Saturday launch of their collaborative Plastic Waste Exchange (PWE) project—a community-driven initiative to combat plastic waste and promote responsible plastic management in Nigeria. Plastic Waste Exchange by 1win and Recycledge The launch event takes place on  December 28, 2024, at IDC School, Old Ife Road, New Gbagi, Ibadan , starting at  10 AM . Members of the public are encouraged to bring their plastic bottles in exchange for vouchers, food items, gifts, or cash rewards. The more kilograms of plastic attendees bring, the more tangible rewards from 1win they will receive. The event promises to be engaging and fun, with activities including games and entertainment for participants of all ages, exclusive 1win merchandise giveaways, and appearances by renowned Nigerian personalities Social media influencers Moyin and Doyin Oladimeji (known as  @Twinz_Love ) and famou...

  Western Union  and PostBank Uganda have announced the launch of international money transfers in the Wendi mobile wallet . The co-branded digital service will   empower customers in Uganda to send and receive funds globally. Wendi is PostBank Uganda’s innovative digital wallet that enables customers to efficiently manage and transact funds directly from their smartphones and feature phones. Customers can now receive money from their loved ones into the wallet seamlessly through Western Union’s vast global network, which spans over 200 countries and territories. They also have the flexibility to send funds to bank accounts and mobile wallets worldwide, as well as for cash pick-up at locations abroad. The launch builds on Western Union’s and PostBank Uganda’s existing collaboration of in-person services with a new, comprehensive digital service for customers.     Seamless Experience for Customers Today’s announcement underpins Western Union’s Evolve 2025  s...

Following the recent 2024 United Nations Climate Change Conference (COP29) in Baku, we are confronted with one pressing question: What’s next? With countries set to submit early next year their updated nationally determined contributions (NDCs) under the 2015 Paris climate agreement, the world has an opportunity – and a responsibility – to take transformative action to address the climate crisis. The ocean must be central to this effort. Nobody understands this better than small island developing states (SIDS) like Palau. For us, climate policy is not some abstract debate about hypothetical future risks; it is a fight for survival.  Already, coral reefs are undergoing bleaching; storms are becoming increasingly frequent and destructive; and droughts are undermining food security. Rising sea levels threaten not just our land, but also our culture, our way of life, and our very existence. To date, international support for climate action has fallen far short of meeting developing cou...