Latest news with #Vision2050
Zawya
18-04-2025
- Politics
- Zawya
ECOWAS moves to strengthens governance, early warning in West Africa
The ECOWAS Commission has launched a three-day thematic workshop to enhance the connection between governance, human rights, and early warning systems in West Africa. The workshop, taking place in Abuja, Nigeria, brings together governance analysts from Member States' National Centres for the Coordination of Response Mechanisms, representatives from the ECOWAS Parliament, African Union Commission, United Nations Office for West Africa and the Sahel, and the Government of the Federal Republic of Germany. The workshop aims to integrate early warning into early response, national policy, and institutional decision-making. Dr. Onyinye Onwuka, Acting Director of the ECOWAS Early Warning Directorate, emphasized that governance is not a luxury in times of peace but a frontline concern in times of crisis, calling on Member States and partners to reaffirm their commitment to coordinated, data-driven responses to governance risks. The initiative seeks to strengthen governance monitoring and deepen participants' understanding of governance dynamics. By doing so, it will enhance their role in national response mechanisms and support evidence-based governance and early response strategies. The workshop also highlights the importance of inclusive governance, particularly protecting and promoting rights for youth and women. The African Union Commission representative reaffirmed the AU's commitment to supporting ECOWAS in advancing governance monitoring and democratic resilience. The workshop is supported by the ECOWAS Peace, Security and Governance project, co-financed by the European Union and the German Federal Ministry of Economic Cooperation and Development. This partnership underscores the commitment to enhancing governance and early warning systems in West Africa. Through technical and policy-driven sessions, peer exchanges, and comparative learning, participants will develop actionable skills and stronger networks to address common challenges. The workshop is designed to ensure that each participant leaves with a clearer mandate to support evidence-based governance and early response strategies in their respective countries. Ultimately, the workshop will contribute to enhancing democratic resilience in West Africa, aligning with ECOWAS's Vision 2050 and the United Nations' commitment to peace and security in the region. By fostering stronger networks and capacities, the initiative will help West Africa build a more stable and prosperous future. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
09-04-2025
- Business
- Zawya
Critical Minerals Africa Group To Visit Kenya for High-Level Discussions on Energy Transition, Critical Minerals, and Investment Opportunities
The Critical Minerals Africa Group ( is pleased to announce that its CEO, Veronica Bolton Smith, will be visiting Kenya for a series of high-level engagements focused on the role of critical minerals in the energy transition, Kenya's blue economy strategy, and investment opportunities in the East African country. During her visit, Bolton Smith will participate in a key conference on the energy transition, led by the Italian multinational energy company ENI, where she will contribute insights into how critical minerals can support sustainable energy solutions across Africa and beyond. In addition to this, Bolton Smith will meet with prominent Kenyan government officials in Nairobi, including H.E. Hassan Ali Joho, EGH, Cabinet Secretary for Mining, Blue Economy, and Maritime Affairs. Discussions will centre on Kenya's strategic focus on the development of critical minerals and its ambitious plans for the blue economy. Bolton Smith will also engage with H.E. Hon. Lee Kinyanjui, Cabinet Secretary, Ministry of Investments, Trade, and Industry to explore Kenya's investment landscape, to assess Kenya's initiatives aimed at attracting foreign direct investment, as well as the country's long-term economic vision as outlined in Vision 2050. 'Kenya is taking significant steps to position itself as a key player in the global critical minerals sector and to drive sustainable economic growth through strategic investments in crucial industries such as this,' said Veronica Bolton Smith, CEO of the Critical Minerals Africa Group. 'I look forward to engaging with government leaders, industry stakeholders, and investors to explore how CMAG can help unlock the investment that is needed to support Kenya's development goals and the broader energy transition in Kenya and across Africa.' Distributed by APO Group on behalf of Critical Minerals Africa Group (CMAG). About the Critical Minerals Africa Group (CMAG): The Critical Minerals Africa Group is an advocacy group that seeks to foster deeper relationships between Africa and global markets and put Africa at the heart of international discussions surrounding critical minerals and associated supply chains. CMAG aims to enable the creation of resilient and diversified critical minerals supply chains that benefit the communities in which they are extracted, as well as to accelerate economic development through the capture of value-adding activities.
Khaleej Times
28-03-2025
- Business
- Khaleej Times
6 wealth management mega-trends in the Middle East and UAE
Megatrends are transformative forces that shape economies and redefine industries. Wealth Management (WM) is one such powerful trend, particularly in the Middle East, with the UAE at the forefront. For discerning investors, the fundamental question remains: How do I strategically manage my assets and liabilities while ensuring optimal legal structures for taxation and confidentiality? The core wealth imperatives Every investor — whether affluent, High Net Worth (HNW) or Ultra High Net Worth (UHNW) — shares three primary objectives for themselves, their families, and philanthropic endeavors: • How do I grow, preserve, and transfer my wealth most efficiently? • Do I have a financial adviser who acts as a trusted financial doctor rather than merely selling products? • Where are the most lucrative global investment opportunities, and how can I access them? The wealth boom: a global and regional perspective According to Bain & Company, global WM assets are projected to surge from $130 trillion to $230 trillion by 2030, with the fastest expansion in Asia and the Middle East. The UAE, in particular, continues to attract a significant influx of millionaires, solidifying its position as a wealth hub. In 2024 alone, 6,700 millionaires relocated to the UAE, bringing the total number of millionaires in the country to over 70,000. The key drivers of this migration include personal and professional growth opportunities, unparalleled safety, and an ultra-luxurious lifestyle — particularly in Dubai, a city synonymous with sophistication and opulence. Sun, sea and desert make it doubly attractive. Dubai's allure is legendary. In the 1990s, the phrase 'Shanghai, Mumbai, Dubai, or bye-bye' captured the city's ascent. Decades later, despite market fluctuations, its magnetic appeal remains intact. American investors, in particular, are captivated, frequently asking me about vacationing and acquiring prime real estate in the emirate. Dubai's magic, though intertwined with inherent volatility, continues to shine. 1) The rise of family offices The Dubai International Financial Centre and the Abu Dhabi Global Market offer attractive regulatory frameworks grounded in English common law, with dedicated courts. As a result, single and multi-family offices (FOs) are proliferating, enabling HNW families to manage and transfer wealth with greater efficiency. The UAE's growing financial linkages with Singapore — often considered the gold standard for FO innovation — are further accelerating this evolution. 2) ESG, sustainable investing, and philanthropy The UAE's Vision 2050 and COP28 commitments are fuelling demand for Environmental, Social, and Governance (ESG)-compliant and impact-driven investments. Sovereign wealth funds, such as Mubadala and ADQ, are leading the charge, diversifying into green energy, technology, and sustainable infrastructure. Philanthropy is also gaining traction among billionaires, inspired by the UAE's commitment to sustainability and social responsibility. 3) Digital & AI revolution in wealth management Dubai is pioneering the integration of artificial intelligence (AI) in WM, with robo-advisory platforms and AI-driven financial planning tools enhancing strategic investment decisions and curbing excessive trading. For WM firms, AI-powered solutions provide stability and long-term client value, making them an indispensable part of the industry's future. 4) Alternative investment opportunities for HNWs The UAE is embracing the alternative investment wave with hedge funds, venture capital, private equity, and private credit. These less liquid but high-potential asset classes target outsized returns compared to traditional investments. Global alternative investment firms are increasingly setting up shop in DIFC, positioning the UAE as a premier destination for sophisticated investors seeking diversified exposure. 5) Islamic wealth management expansion With a market size exceeding $1 trillion, Islamic wealth management is a thriving sector, led by Abu Dhabi. Shariah-compliant investment solutions — ranging from ethical funds and sukuk (Islamic bonds) to Takaful (Islamic insurance) — are gaining sophistication and prominence. Many FOs are integrating Islamic finance principles into their investment strategies, underscoring the UAE's leadership in this domain. 6) The role of real estate in wealth preservation & growth Luxury real estate remains a cornerstone of wealth preservation for UHNW investors. Dubai's high-end property market — particularly villas — continues to attract elite buyers from Europe, Russia, and Asia. Investors seek not only a discreet and lavish lifestyle but also lucrative rental income streams.
Yahoo
23-03-2025
- Business
- Yahoo
Rochester City Council to keep focus on affordable housing during strategic priorities discussion
Mar. 23—ROCHESTER — Support for affordable living has been a defined Rochester City Council priority since 2021, and the related issue of housing remains on the minds of a new council. "In interviews, council members identified housing access as one of the community's most daunting challenges," states a report by Charlotte, North Carolina-based Raftelis as the Rochester council prepares to review and update its strategic priorities. The report links cost to part of the housing challenge, pointing out the percentage of cost-burdened renters in the city — those paying more than 30% of their income toward housing — has risen from 44% in 2019 to 52% in 2023. During the same period, the Raftelis report states median home values have risen by 41%, from $229,800 to $324,200, resulting in 24% of homeowners holding mortgages that leave them cost burdened. It's compared to 31% of Americans — renters and homeowners — who reported being cost burdened by housing. The concerns follow a 2024 community survey, which indicates only 21% of Rochester residents surveyed stated the availability of affordable quality housing in the city is good or excellent, which was up from 16% in 2022. In a recent Vision 2050 report, led by Mayor Kim Norton, residents identified housing as the top investment priority for the next 25 years. Rochester council members will discuss the issue, along with other potential city priorities during their 3:30 p.m. study session Monday in the Rochester Public Utilities community room, 4000 East River Road NE. It's a follow-up to a Jan. 27 session that provided initial council insights. Since the first session, consultants from Raftelis have interviewed council members individually, talked to leadership from city departments and met with residents who head city boards and commissions. The results of those discussions will be presented on Monday, along with questions aimed at developing a new strategic priority framework. While housing emerged as a key challenge amid conversations, city strengths also were highlighted. For council members, strengths cited were collaborative efforts inside city government, as well as with outside groups. The Raftelis report states department leaders also noted compassion as a strength, alongside the municipality's ability to perform beyond its size, pointing to amenities and initiatives more likely to be found in larger cities. Board and commission leaders also pointed to the city's amenities being on a larger scale than what might be expected in a city of roughly 125,000. "A number of members shared that they love the excellent parks, trails and recreational offerings," the Raftelis report states. "When asked about what makes Rochester unique, the group noted that Rochester is unique compared to other municipalities in that it has such a strong economic driver in Mayo Clinic." When it comes to maintaining the level of amenities and service, city department leaders said challenges related to managing expectations amid community growth and limited resources, especially amid federal changes that could limit the ability to execute certain projects. With insights from Monday's conversation, the Raftelis consultants plan to work with city staff to prepare a draft strategic framework for the council to review, with a potential vote on the proposal as early as April. Meetings scheduled to be held during the week of March 24 include: Rochester —City Council study session, 3:30 p.m. Monday in the Rochester Public Utilities community room, 4000 East River Road NE. The meeting will not be livestreamed or available on cable, but it will be recorded and posted later at —Public Utility Board, 4 p.m. Tuesday in the Rochester Public Utilities community room. —Library Board, 4 p.m. Thursday in the first-floor meeting room of the Rochester Public Library, 101 Second St. SE. Olmsted County —Soil and Water Conservation District Board, 8 a.m. Thursday in conference room 109 at 1188 50th St. SE Rochester. Rochester Public Schools —School Board, 5:30 p.m. Tuesday in the boardroom of the Edison Building, 615 Seventh St. SW. Destination Medical Center —DMC Corp. executive committee, 3 p.m. Wednesday at Mayo Civic Center, 30 Civic Center Drive SE.
Forbes
21-03-2025
- Business
- Forbes
Cambodia's High-Income Future with Clean Energy
A Vision of Progress – Can Cambodia's Energy Future Keep Pace with Its Rapid Growth? Prime Minister Hun Manet is two years into his tenure, and he will have challenges to confront. His predecessor led the nation out of genocide, and brought it extraordinary development. During his decades of leadership, he brought the peace and stability needed for civil society to sprout from the ashes of civil conflict. Stability led to steady economic expansion: between 1995 and 2019 Cambodia's annual growth averaged 7.6% with textiles and tourism, agriculture and construction as the primary drivers. China saw its potential long ago and has massively invested in infrastructure, funding every hydropower dam, among other civil projects. The new administration looks to continue the progress of the previous, and lead Cambodia to the Vision 2050 goal of High-Income Nation status. 2050 is also a significant year for Cambodia's Climate Change indicators within the framework of the Paris Climate Agreement. Cambodia's Nationally Determined Contributions (NDCs), created in compliance with the Paris Agreement 2015, necessitate reaching net-zero Carbon Emissions with 60% of its Forest Cover, by 2050. Cambodia's current forest cover stands at 43%, increasing it to 60% is an important component of achieving carbon neutrality. The forests act as carbon sinks, meaning they naturally remove carbon from the atmosphere. This amount of carbon sinking removes 50 Megatons of Carbon Dioxide Equivalent per year. If the carbon isn't sequestered in the trees of the forest, it's released into the atmosphere by logging and forest fires, which drastically increase the temperature of the surface of the earth. See map below by NASA Forest fires recorded in the last 30 days. Feb 21 - March 21. Every red dot represents a fire. The World Bank presents a sober analysis for 108 nations stuck in the middle-income trap, the situation of being unable to break into the ranks of high-income nation status. In their 2024 World Development Report on the Middle-Income Trap, they detail the problem and how to get out of it. It describes the 'Three Is' of development: Investment, Infusion, and Innovation. Transitioning from Investment to Infusion entails attracting foreign businesses to bring technical know-how, and transfer technical skills to the workforce. After the country has built up sufficient domestic infrastructure and human capital, the nation will be able to pivot to Innovation, and make themselves competitive on the global stage. Countries that don't do this will stay middle-income manufacturing hubs for the high-income nations. These nations won't be able to get past the point of stagnation that occurs at $7-8K per capita without innovation. This looming problem is farther away for Cambodia, which will near $3,000 per capita in 2025. However, it will have to be solved to achieve Vision 2050. India is in the middle-income trap. India will take another 75 years to reach one quarter of the American per capita income. Notable reasons attributed for this include the lack of political inclusivity and institutions, and social mobility. Elitism and majoritarianism are not conducive to prosperity. Protectionist policies that prevent corporations from being tested in international markets deprive them of useful stress tests. Limited social mobility leads to alienation of the disenfranchised, and ossification. This will not support societal stability, let alone growth. 20th Century technologies will leave Cambodia in the 20th Century. 'Infuse' now with the most advanced and promising technologies to prepare Cambodia for the 22nd century. Cambodian engineers will be among those innovating for posterity. The 35-year-old engineers of 2050 are currently 10-year-old students. Will only the children of the rich have opportunities to participate in the nation's bright future? Will all Cambodian students have the opportunity to work in emerging industries the world over, and return home with expertise, as the Koreans allowed? Will they have the chance to rise in society proportional to their industriousness, or will the best jobs and upper ranks be limited to the children of the current tycoons? The World Bank encourages countries to treat crises as opportunities. Climate change is an ongoing catastrophe that will make or break nations. The Tropic Belt countries are among the most susceptible. The overarching difficulty is to concurrently remedy the challenges of ecological collapse and economic impoverishment. While most people consider them irreconcilable, Innovation will address both of these issues. Nuclear Power is the shockingly simple ('simple') solution to a range of seemingly disconnected problems, now revealed to be opportunities. Nuclear Power generates limitless electricity of course, but also: fertilizers, animal feed, desalinization, fuels for cars, planes, trains, and other automobiles, clean concrete, Direct Air Capture and more promisingly, Direct Ocean Capture are some of the many products and methods that become more accessible with Nuclear Power. Direct Ocean Capture is the single most effective method at removing Legacy Carbon (carbon previously released) from the environment. It simultaneously fights Ocean Acidification, the 'Evil Twin' of Climate Change that's currently decimating coral reefs and shellfish populations. By extension, food webs are collapsing. With forward thinking and decisive leadership, Cambodia can secure the next 40-70 years of its energy supply while maintaining the forests and not sacrificing the environment. Nuclear Power will be a big investment, but the avenues exist to effectively execute this. Russia has made agreements with 57 nations, specifically relating to Nuclear Power. China has Nuclear Power well established, and as the sole investor in hydropower dams, it would be a basic policy shift to redirect their time, expertise, and capital to Reactors. They're experimenting with Thorium Reactor designs, building one of commercial capacity in the Gobi Desert, that should be operational by 2030. While Washington isn't currently sympathetic to green technology, this is temporary. Silicon Valley understands technology, at the least, and is massively investing in avant-garde energy solutions. Bill Gate's TerraPower started construction on a Salt-Cooled Reactor in Wyoming just last year. Meta and Microsoft are actively invested in Nuclear Power; AI takes a lot of electricity. Amazon is investing in Small Modular Reactors (SMRs) and is exploring Nuclear Fusion, trying to get ahead on the energy source of the 22nd Century (IAEA Fusion FAQs). All serious solutions for Climate Change and long-term energy supply involve Nuclear Power. France is the longtime leader of Nuclear Power, and is actively modernizing their aging system. Cambodia would find France an ideal partner to invest and share skills. Small Modular Reactors and Molten Salt Reactors are newer technologies well adapted for Cambodia, and now is the time to be on the forefront of implementing these. Cambodia lacks strategic energy policy that considers the various difficulties it will face over the next century. There's little margin to waver or time to ponder; actions must now be taken to avoid the current direction of economic and ecological collapse. Energy independence brings a nation autonomy, and it can progress to being an energy exporter enjoying soft power. Earnings from this soft power could become hard power. The World Bank observes that crises may be opportunities for a middle-income country to stress test its corporations, reform where needed and not just survive, but profit from the difficulties. Climate Change is an ongoing disaster affecting us all, but none more than residents of the Tropical Belt. With clean, cheap electricity available, so many other doors open. Not only will a nation be able to prevent emissions into the future, they'll be able to use techniques like Carbon Sequestration, Direct Ocean Capture or Direct Air Capture, to remove Legacy Carbon and undo the damage of the previous Industrial Revolutions. Cambodia is wary of over reliance on any one nation. That's sound geopolitical strategy, and yet more important in times of global tension. To avoid becoming a vassal or proxy, and maintain its constitutionally enshrined non-alignment and territorial integrity, Cambodia needs energy independence. Negotiating from a place of strength is the only way to effectively negotiate. To avoid the looming middle-income trap, it requires innovation. To make any economic progress without destroying its remaining forests and waterways, decisive leadership will be needed to direct the translation of policy into action. 'If we reform, we survive; if we don't, we perish,' the Prime Minister stated plainly in mid-March. Hun Sen the Sage led the recovery, let Hun Manet the Visionary lead the economic renaissance.
