Latest news with #UNECA
Zawya
27-05-2025
- Business
- Zawya
DStv Inducted into Brand Africa Hall of Fame and Named #1 Most Admired African Media Brand 2025
DStv, Africa's leading entertainment platform, has been officially recognised as the #1 Most Admired African Media Brand in the Brand Africa 100 | Africa's Best Brands 2025 rankings. This recognition also sees DStv inducted into the prestigious Brand Africa Hall of Fame, a distinction reserved for iconic African brands that have significantly shaped the continent's global image and competitiveness over the years. The announcement was made at a high-profile ceremony hosted at the United Nations Economic Commission for Africa (UNECA) in Addis Ababa, where leaders from across the African media and branding landscape gathered to honour the continent's most impactful brands. Launched in 1995, DStv has evolved from a digital satellite television pioneer into a content powerhouse, transforming the African viewing experience through continuous innovation, investment in local content, and a deep commitment to telling African stories. 'This honour reflects the incredible journey we've taken with our audiences across Africa. Being named Africa's most admired media brand and joining the Brand Africa Hall of Fame is not just a celebration of where we've come from—it's a reaffirmation of where we're going. Our commitment to local storytelling, cultural authenticity, and innovation remains stronger than ever. We are proud to be a brand that not only entertains but uplifts and connects Africans through stories that matter.' States Calvo Mawela, Group CEO of MultiChoice. Each year, the Brand Africa 100 survey identifies the most admired brands across the continent, based on independent research conducted in over 30 African countries, representing over 85% of Africa's population and GDP, with more than 150,000 brand mentions and 5,930 unique brands. The rankings are compiled through a rigorous process led by research partners including GeoPoll, Kantar, Integrate, and Analysis, making it the only pan-African, research-led and non-commercial brand equity study of its kind. DStv's induction into the Hall of Fame further cements its position not just as a media brand, but as a cultural force that continues to shape narratives and inspire pride across Africa. Through its investments in local productions, partnerships with African creators, and focus on quality storytelling, DStv remains at the forefront of Africa's growing creative economy. DStv was also honoured with the same top recognition in 2024, reinforcing its consistent excellence and enduring connection with audiences across Africa. Since its launch 30 years ago with just 16 channels, DStv has evolved into a dynamic content powerhouse, offering a rich mix of local productions, global entertainment, and integrated streaming options. Today, it serves millions of households across the continent, delivering hundreds of channels and platforms that reflect the diversity, creativity, and aspirations of African viewers. Distributed by APO Group on behalf of MultiChoice Group.
The Star
24-05-2025
- Business
- The Star
UNECA chief urges African brands to boost global visibility
ADDIS ABABA, May 24 (Xinhua) -- Executive Secretary of the United Nations Economic Commission for Africa (UNECA) Claver Gatete has called on African countries and businesses to intensify efforts to enhance the global visibility and competitiveness of African brands. Gatete made the call on Friday during the unveiling of the "Brand Africa 100: Africa's Best Brands 2025" ranking in Addis Ababa, Ethiopia's capital, which highlighted the continent's most admired brands. With Africa's rising middle class propelling the continent's consumer market, which is projected to surpass 2.2 trillion U.S. dollars by 2030, Africa's branding story is equally diverse and dynamic across the continent, Gatete said. He cited examples of African innovation and value addition: Ghana and Cote d'Ivoire in cocoa processing, Kenya in mobile banking, Nigeria's creative industries, Rwanda's green transformation initiatives, and South Africa's industrial base. Gatete underscored the continent's demographic advantage, with more than 70 percent of its population under the age of 35, calling it "far-reaching implications" for sustainable development. Despite this potential, he acknowledged that only a handful of African brands have achieved meaningful global visibility, a challenge that must be addressed through coordinated action. To address the challenge, Gatete proposed five strategic pathways to integrate authentic African brands into the continent's broader development agenda and enhance their international competitiveness. "It is imperative that we keep in mind that what defines a brand is not merely a logo or a slogan. An authentic African brand must straddle the embodiment of Africa's stories, culture, and aspirations," he said. Jointly organized by Brand Africa, UNECA, and African Business, the Africa's Best Brands 2025 ranking was determined through a comprehensive survey conducted in 31 countries.
Zawya
30-04-2025
- Business
- Zawya
Experts Convene in Washington to Advance Dialogue on an African-Led Credit Rating Ecosystem
With more than 30 African countries subject to sovereign credit ratings, the decisions of global rating agencies significantly impact debt sustainability and access to international financial markets. At a high-level dialogue held on the sidelines of the 2025 IMF–World Bank Spring Meetings, African institutions and global credit rating agencies reaffirmed their commitment to developing a fair, transparent, and inclusive credit rating ecosystem for Africa. Organized by the African Union's African Peer Review Mechanism (APRM), the United Nations Development Programme (UNDP), the United Nations Economic Commission for Africa (UNECA), AfriCatalyst, and the African Center for Economic Transformation (ACET), and hosted at the Open Society Foundations, the dialogue brought together senior representatives from Moody's, S&P, and Bank of America for a candid discussion on financing solutions for African countries. Against a backdrop of rising market volatility, sovereign defaults and constrained fiscal space, the dialogue aimed to address urgent reforms in Africa's credit rating framework. Speakers identified structural issues such as data gaps, methodological opacity, and under-engagement between African governments and the 'big three' credit rating agencies (Moody's, S&P, and Fitch), as barriers to accurate ratings. Amb. Claver Gatete, Executive Secretary of UNECA, acknowledged Africa's financing paradox—a combined GDP of over $3 trillion, yet only two countries rated investment grade—and underscored the urgent need for reform. 'Ultimately, a healthy credit rating ecosystem goes beyond evaluating risk – it becomes a platform for mobilizing capital, improving creditworthiness, and supporting Africa's broader development goals,' he added. 'We must rethink how creditworthiness is defined and measured,' said Dr. Raymond Gilpin, Chief Economist, UNDP Africa speaking on behalf of Ms. Ahunna Eziakonwa, UNDP Regional Director for Africa. 'At UNDP, we believe a development-centric approach is essential to supporting governments in strengthening institutions, improving data systems, and engaging effectively with credit rating agencies to reshape the narrative around Africa's creditworthiness.' African economies face mounting credit rating challenges, including perceptions of bias, lack of transparency and inconsistencies in rating methodologies. Dr. Misheck Mutize, Lead Credit Rating Expert at APRM, and Dr. Zuzana Schwidrowski, Director of Macroeconomics, Governance and Finance at UNECA, proposed solutions to addressing the capacity of African governments to respond to inaccurate or unfair credit ratings and steps toward creating an African Credit Rating Agency that complements and expands existing credit ratings coverage globally. Mr. Roberto Sifon-Arevelo, Managing Director at S&P Global Ratings, Mr. Jorge Valez, Senior Vice President at Moody's Ratings, and Dr. Tatonga Rusike, Chief Economist for Africa at Bank of America, outlined opportunities to remedy longstanding risk perception issues and working together with banks and investors to build capacity and a better understanding of rating methodologies to address transparency. They further emphasized that while sovereign credit ratings are not the sole determinant of investor decisions, they exert significant influence over borrowing costs, market confidence, and access to capital. "Given the ongoing stress in African governments related to both cost of capital and access to capital it is critical to ensure that credit ratings reflect the many different African contexts. This initiative is an important step in that regard - particularly engaging the credit rating agencies," shared Ms. Mavis Owusu-Gyamfi, President and CEO of ACET. 'The Africa Credit Rating Agency (AfCRA) is not being established to issue favourable ratings for African entities, but rather to contribute to a diversity of rating opinions that support more accurate assessments of African sovereigns, corporates, and sub-sovereigns,' expressed Dr. Mutize. 'Our priority is to build a credible, independent, and sustainable institution that plays a vital role in developing domestic debt markets and rebalancing Africa's position within the evolving global financial architecture.' In his closing remarks AfriCatalyst's CEO Dr. Daouda Sembene stressed the urgent need for collaboration among African institutions. 'AfriCatalyst is proud to be at the heart of this critical dialogue, building on the foundation of our Credit Ratings Initiative with UNDP. We are optimistic that through stronger collaboration between African institutions and global rating agencies, we can foster a more accurate, robust, and representative credit rating ecosystem—one that empowers African nations and promotes sustainable growth.' said Daouda. Key messages included the need for: transparent and regular engagement between rating agencies, investors, and African governments; stronger institutional narratives that reflect the continent's resilience and reform efforts; and local capacity-building and collaboration, particularly through the proposed African Credit Rating Agency, which aims to provide credible, contextual alternatives to global ratings. As South Africa chairs the G20 and the African Union assumes permanent membership in 2025, the call for an African-led credit rating solution takes on added urgency. The outcomes of this dialogue will contribute to ongoing efforts to reform the global financial architecture and ensure Africa's capital works better for Africa's development. Distributed by APO Group on behalf of AfriCatalyst. Media Contacts: Bineta Pouye bpouye@ Michelle Mendi Muita Ejigayhu Tefera Jean-Marc Kilolo Belinda Ayamgha bayamgha@
Zawya
21-04-2025
- Business
- Zawya
Group calls for investment in key sectors to drive Nigeria's economic growth
An Osun State-based Founder and Executive Director of the Youth Enterprise Development and Innovation Society (YEDIS), Mr Rafiu Akinpelu Olaore, at the weekend affirmed that commitment to energy, infrastructure development, agribusiness, healthcare, digital technology, and manufacturing is the only solution to driving robust economic growth in the country. The founder of the non-governmental organisation made the remark in a statement made available to our reporter in Osogbo after his participation in the 11th Session of the Africa Regional Forum on Sustainable Development (ARFSD), convened by the United Nations Economic Commission for Africa (UNECA), which took place in Kampala, Uganda, from 6 to 11 April 2025. Mr Olaore underscored the importance of enhancing digital infrastructure and promoting e-commerce across the African continent, saying this would create meaningful employment opportunities and foster a conducive environment that could promote favourable business conditions for youths and encourage women-led small and medium-sized enterprises (SMEs) to drive robust economic growth. Highlighting the alarming youth unemployment rate in developing countries across Africa, he expressed concern over its contribution to insecurity and various social challenges. He emphasised that job creation is a pivotal strategy for fostering self-sufficient economies, meeting humanitarian needs, and stimulating demand for goods. According to him, 'The vast entrepreneurial potential, talent, and resourcefulness of African youth are often underutilised. Many young individuals find themselves confined to unproductive employment opportunities, while others may migrate to developed countries where their skills are more recognised. This situation is largely attributed to inadequate institutional frameworks, a challenging business environment, and a shortage of enabling resources.' To effectively address the unemployment crisis and foster inclusive growth, Olaore, however, harped on the necessity of collaboration among various stakeholders, including civil society organisations, academia, and the private sector, saying such collaboration has the potential to unlock productive, locally-driven trade opportunities within Africa. He further highlighted the importance of engaging grassroots stakeholders in the policymaking process, noting that this engagement can lead to innovative and practical solutions to Africa's enduring challenges of poverty and insecurity. Mr Olaore acknowledged the crucial role that nonprofit organisations and the private sector play as agents of change in facilitating skill development that aligns with local needs and charged governments to implement stable regulatory reforms and develop the essential infrastructure required for sustainable growth. He also extended his appreciation to the contributions of the session's moderator, Zuzana Sch, Director of Microeconomic Policy at UNECA, and Waleed El-Zomor, International Trade Consultant with the U.S. Agency for International Development. The group founder disclosed that the programme, Decent Jobs and Economic Growth High-Level Session, was chaired by Her Excellency Hon. Justice Lumumba, Minister for General Duties of Uganda, on 10 April 2025. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
25-03-2025
- Business
- Zawya
East African countries face $160mln forfeiture in tax revenues under AfCFTA but long-term future gains
Four East African countries (Kenya, Rwanda, Tanzania and Uganda) face a potential loss of up to $160 million in tax revenues this year, the smaller penalty to pay for future bigger gains on open borders for goods and services. Findings from the UN Economic Commission for Africa (ECA) suggest the pain will be short-lived, to be compensated by bigger gains on larger sales between African countries. The report, Economic Report on Africa, for this year says Africa stands to lose three percent ($2 billion) in tax revenues in 2025 as a result of the 1.3 billion free market that came into effect from January 1, 2021, known as the Africa Continental Free Trade Area (AfCFTA).'Africa's Least Developed Countries (LDCs) would be granted longer timeframes for tariff liberalisation, with non-sensitive products to be brought to zero between 2021 and 2030, while tariffs on sensitive products are to be removed by 2033.'As a result, the decline in tariff revenues would be rather marginal in the early years of AfCFTA implementation, with an estimated marginal three per cent ($2 billion) reduction of tariff revenues for African governments in 2025,' the report says. The report shows that in East Africa Community region, Rwanda will be heavily impacted by AfCFTA agreement this year expected to lose 3.5 percent of its tax revenues equivalent to $70 million. It will be followed by Uganda (2.1 percent or $42 million), Kenya (1.5 percent or $30 million) and Tanzania (0.9 percent or $18 million). According to the report, tariff revenues for African governments will decline as the trade agreement is implemented, but the decline will be shielded by compensation from rising volumes of trade.'The reduction in customs duties due to the implementation of the AfCFTA agreement will inevitably reduce tariff revenues collected by African governments,' says the report. UNECA's latest empirical assessment foresees a 10.7 percent (or $21.1 billion) decline in Africa's total tariff revenues in 2045 following the full implementation of agreed tariff concessions under the trade agreement, compared with a situation without the reforms. However, this loss would be progressive in line with agreed liberalisation schedules under the AfCFTA protocol on trade in goods, thus giving time for countries to implement mitigating measures. According to the report, the decline in tariff revenues is expected to accelerate in 2030 with an anticipated 8.2 percent ($7 billion) reduction, before progressively reaching 10.7 percent ($21.1 billion) reduction in 2045. This decline following the AfCFTA implementation is expected to be uneven with Cameroon, Ethiopia, and Zimbabwe anticipated to be among the most affected, with estimated reductions of tariff revenues of over 15 percent in 2045.'However, governments have other sources of revenues at their disposal to compensate for such losses. Revenues generated from the large increase in intra-African trade would also be important and still help in reaching higher levels of welfare, despite reduction in revenues from customs duties,' the report says. An AfCFTA Adjustment Fund has been established as an integral part of the AfCFTA Secretariat structure with the support of Afreximbank to assist vulnerable countries to mitigate tariff revenue losses. The trade agreement seeks to remove barriers to trade and put in place common policies to ease movement of goods and services within the continent creating the eighth trading bloc in the world with a combined gross domestic product (GDP) of $3.3 trillion. Read: AfCFTA gains momentum as 48 African countries ratify agreementThe AfCFTA is the world's largest free trade area in the number of member states and the scope, and as of January 2025, all except one African country had signed the agreement. Eritrea is the only exception. Among signatories, 48 have also ratified the deal, which includes a series of protocols and annexes negotiated in two phases. Phase 1 covers trade in goods, services and procedures for dispute resolution. Phase 2, adopted in February 2024, includes protocols such as investment policy, competition policy, intellectual property rights, digital trade, and women and youth in trade. The schedule for liberalisation of the protocol in trade in goods of AfCFTA identified three types of products—non-sensitive, sensitive and excluded—and two groups of nations—least developing countries (LDCs) and non-LDCs. The LDCs have a longer period for tariffs liberalisation, with 10 years to liberalise 90 per cent of tariff lines for the non-sensitive products and 13 years to liberalise sensitive products. Non-LDCs have five years to liberalise 90 percent of their tariff lines for non-sensitive products and 10 years for sensitive products, which can constitute up to seven percent of tariff lines. LDCs and non-LDCs have the option to exclude up to three per cent of their tariff if this does not represent over 10 percent of intra-African import value. In practical terms, by 2033—13 years from the date of entry into force of the AfCFTA agreement—trade in 97 per cent of all goods originating in Africa should be traded across borders free of any customs duties or other charges having equivalent effect. The trade agreement envisaged to help in reducing tariffs and non-tariff barriers within the continent, offers an unprecedented opportunity to widen the existing small base of formal intra-African trade. UNECA estimates that in relative terms, overall intra-African trade (exports) would increase by about 45 per cent (or $275.7 billion) in 2045, while intra-African trade is expected to increase by 60 per cent (or $58.6 billion) for agri-food, 48 per cent for industry (or $165.6 billion), and 34 per cent for services (or $4.9 billion), from a baseline situation without the agreement. The expected increase in intra-African trade for energy and mining, while significant at an estimated 28 per cent (or $46.6 billion), would therefore be notably less than that of other main sectors. © Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (
