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Zawya
2 days ago
- Business
- Zawya
Kouchouk affirms Egypt's commitment to supporting Africa's sustainable development financing
Arab Finance: Minister of Finance Ahmed Kouchouk stressed Egypt's commitment to strengthening African and international cooperation to ensure sustainable development financing that supports the African countries, as per a statement. Kouchouk's remarks came during a meeting with Claver Gatete, Executive Secretary of the United Nations Economic Commission for Africa, on the sidelines of the Fourth International Conference on Financing for Development (FfD4). He also affirmed Egypt's keenness to build on UN partnerships to promote financial stability and equitable growth in Africa, driving sustainable development across the continent. Africa needs innovative financing solutions to address the debt crisis and achieve the continent's development goals, Kouchouk added. The minister elaborated that financing sustainable development requires flexible financial tools tailored to the conditions in Africa amid climate and economic challenges that threaten growth and progress. Finally, he stressed the need to provide inclusive financing mechanisms that support the transition to a green and digital economy. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
2 days ago
- Business
- Zawya
Unlocking Africa's Energy Future: The Role of Nuclear Power and Innovative Financing
For many African nations, the challenge of energy access remains a significant barrier to development. However, a crucial conversation is gaining momentum: the pursuit of sustainable and reliable energy through nuclear power. Specifically, the focus is on Small Modular Reactors (SMRs) and Micro Reactors (MRs), which are increasingly viewed as a viable and transformative solution for the continent's energy needs.. However, transforming this potential into reality requires substantial capital investment and innovative financial approaches. This critical need was the main focus of the "Mobilizing Capital Investment" session at the recent Nuclear Energy Innovation Summit for Africa in Kigali, moderated by Andrew Mold, Director of the UN Economic Commission for Africa (ECA) in Eastern Africa. Tesi Rusagara, Minister of State for Public Investments and Resource Mobilization, Ministry of Finance and Economic Planning, Rwanda, set the tone by emphasizing the evolving landscape of development finance. She highlighted Africa's historical reliance on external, concessional financing, which is now reducing. This necessitates a strategic pivot towards leveraging domestic and regional financial resources. Critically, the Minister advocated for "looking inwards." She cited Rwanda's rapidly growing financial sector, which accounts for 67% of its GDP. This sector, traditionally focused on government securities, must now innovate to finance long-term private infrastructure projects. By collaborating closely with domestic financial institutions and de-risking projects through public and development finance, Africa can tap into a vast pool of capital currently not flowing into essential projects. The continent grapples with an estimated annual infrastructure financing gap of $100 billion (out of a total need of $170 billion, according to the African Development Bank). This challenge is amplified by a global climate of development finance pessimism, with significant declines projected in official development assistance. Despite these hurdles, a shift is underway. Nations like Kenya and Rwanda are actively pursuing their first pressing question remains: how can Africa secure the long-term, affordable capital necessary for these capital-intensive and long-duration projects? The Director General of the International Atomic Energy Agency (IAEA), Rafael Grossi, has reaffirmed the agency's commitment to supporting African countries in developing peaceful nuclear energy programmes, stressing that the continent must be fully integrated into the global shift toward low-emission energy sources. Speaking at the Summit, Grossi said there is 'nothing preventing Africa from claiming its place' in the evolving global energy landscape. He underscored that clean and reliable energy is no longer a luxury but a pressing necessity for the continent. Mr. Stéphane Ouedraogo, Managing Partner, Stallion Capital Africa, addressed the task of financing projects with 60- to 80-year lifespans in the African context. He stressed the growing willingness of the World Bank to finance components of nuclear energy. This involvement, he noted, brings not only "new money" but, more importantly, "confidence," given this institution's rigorous due diligence on feasibility and security, coupled with its long-term, concessional rates. The panel also included Mr. Ibrahim Diouf, Special Advisor to the President, West African Development Bank; Mr. Chris Opperman, Operating Partner for Africa&Middle East, C5 Capital; and Mr. Mansour Avaya, Co-founder and Chairman of Exxon, and CEO of Epox, who painted a clear picture: while significant financial challenges persist, a viable path forward for nuclear energy in Africa exists. It requires a multi-pronged approach encompassing the leveraging of international development finance for de-risking, reorienting domestic financial sectors towards long-term infrastructure, structuring innovative blended finance and PPPs, and strategically aligning nuclear projects with global climate goals. Bridging the Skills Gap Beyond capital, the session touched upon the vital role of human capital. The continent needs to cultivate the necessary skills to support a nuclear energy sector. The AfCFTA's protocol on the free movement of people, which enables young Africans to study and work across member states, was highlighted as a valuable mechanism for addressing these skills gaps and fostering regional expertise. The two-day summit brought together policymakers, industry leaders, and energy experts to explore the role of nuclear power in accelerating Africa's energy transition and supporting sustainable development. Distributed by APO Group on behalf of United Nations Economic Commission for Africa (ECA).
TimesLIVE
15-05-2025
- TimesLIVE
Mexican beauty influencer fatally shot during TikTok live stream
A young Mexican social media influencer known for her videos about beauty and makeup was shot dead during a TikTok live stream in an incident that sent shock waves through a country that faces high levels of gender-based violence. The death of Valeria Marquez, 23, is being investigated according to protocols for femicide — the killing of women or girls for reasons of gender — the Jalisco state prosecutor said on Tuesday evening. Femicide can involve degrading violence, sexual abuse, a relationship with the murderer or the victim's body being exposed in a public space, according to Mexican authorities. Marquez was killed on Tuesday in the beauty salon where she worked in the city of Zapopan by a man who entered and shot her, the prosecutor said. The prosecutor's office did not name a suspect. Seconds before the incident, Marquez was seen on her TikTok live stream seated at a table clutching a stuffed toy. She was heard saying, 'they're coming', before a voice in the background asked, 'Hey, Vale?' 'Yes,' Marquez replied, just before muting the sound on the live stream. Moments later she was shot dead. A person appeared to pick up her phone, with their face briefly showing on the live stream before the video ended. Marquez, who had nearly 200,000 followers on Instagram and TikTok, said earlier on the live stream someone came to the salon when she was not there with an 'expensive gift' to deliver to her. Marquez, who appeared concerned, said she was not planning to wait for the person to come back. Mexico is tied with Paraguay, Uruguay and Bolivia as the countries with the fourth-highest rates of femicide in Latin America and the Caribbean, according to the latest data from the UN Economic Commission for Latin America and the Caribbean, at 1.3 such deaths for every 100,000 women in 2023. Jalisco is ranked sixth out of Mexico's 32 states, including Mexico City, for homicides, with 906 recorded there since the beginning of President Claudia Sheinbaum's term in October 2024, according to data consultancy TResearch.
Yahoo
15-05-2025
- Yahoo
Mexico: Beauty influencer shot dead while live on TikTok
A social media influencer was shot to death while she was doing a livestream on TikTok at her beauty salon in central Mexico, state authorities said on Wednesday. 23-year-old Valeria Marquez is seen looking up at someone off the camera, still live on TikTok, responding to a voice in the background asking, "Hey, Vale?" "Yes," she said, before muting the sound on the live broadcast. Within seconds she was appeared to be shot in the abdomen and then in the head. She collapsed, dying instantly. The violent murder of the popular influencer in the city of Zapopan has shocked the nation and the online community. She had over 200,000 followers on TikTok. "The victim is someone with an active presence and influence on social media," the prosecutor's office said in a statement. "A man entered the premises and apparently fired a gun at her," it added. Local media reported that the shooter pretended to bring her a gift. The motive of the crime was not immediately known. The beauty salon in Zapopan is next to the major city of Guadalajara in the central state of Jalisco — a hotbed of criminal activity and home to one of Mexico's most violent drug trafficking group, the Jalisco New Generation Cartel. However, the state security coordinator Roberto Alarcon told reporters investigators had not found any evidence that a criminal group was behind the shooting. Her killing is currently being investigated as a femicide, which is the killing of a woman for gender-related reasons. Zapopan Mayor Juan Jose Frangie said his office had no record of the model requesting help from authorities due to threats from criminal gangs. "It's incredible that you're making a video and then you're murdered. A femicide is the worst thing," Frangie said. Mexico is tied with Paraguay, Uruguay and Bolivia as nations with the fourth highest rates of femicide in the the Latin American region, as per the UN Economic Commission for Latin America and the Caribbean. It shows 1.3 such deaths occured for every 100,000 women in 2023. In another incident, a former congressman Luis Armando Cordova Diaz was also shot dead in a cafe in the area, hours after Marquez' death. Edited by: Wesley Dockery
