The assisted cooperative, Covmb from Burera District, faced significant losses due to heavy rains followed by intense sunshine, which led to substantial crop damage. Since the farmers had insurance coverage with BK Insurance, they were compensated with over RWF 17 million.
The president of Covemb Cooperative, Théobald Ndacyayisenga, stated that after losing potato crops spanning 195 hectares, they were initially hopeless but were later encouraged by the insurance they had taken.
He said, “Insuring agriculture is a solution because when you face unexpected losses, you get compensated. Another benefit is that whatever little that is salvaged from the farm still belongs to us. We are no longer in losses because we were assisted.”
Jean de Dieu Niyonzima, a potato farmer from Musanze District, added, “I joined the insurance program with BK Insurance, and when heavy rains destroyed my potatoes, they compensated me.”
Appollinaire Karegeya, the director of SPF, which will work with the farmers, mentioned that the initiative to support potato farming through insurance is a solution for those in this sector, urging them to take advantage of this profitable profession.
He said, “This insurance for potato seeds, sponsored by BK Insurance, comes at the right time. Previously, farmers would face disasters and lose their crops without any recourse, but now seeds bought here must be insured without any issues.”
Alexis Bahizi, the CEO of BK Insurance, said they chose to partner with SPF because they provide quality and reliable potato seeds to farmers.
He explained, “SPF ensures quality seeds, and we decided to collaborate with them so that every seed purchased by a farmer is insured. This will speed up adoption and ensure a smooth process, as the seeds are of high quality and reliable. If a disaster strikes, the farmer is insured and compensated, avoiding total loss.”
The Musanze District administration indicated that it would increase awareness among potato farmers to encourage them to get insurance, as it promotes both individual prosperity and national development.
Dr. Olivier Kamana, the Permanent Secretary in the Ministry of Agriculture and Animal Resources, urged potato farmers to seek quality seeds and insure their crops.
He said, “We urge farmers to use reliable, certified seeds that have been researched. We are launching a system where farmers can pre-order seeds, and seed producers can know the types and quantities needed for cultivation.”
The two companies entered the new partnership on Thursday, May 30, during the Gitex Africa 2024 tech expo, which is ongoing in Marrakesh, Morocco.
The partnership with Microsoft will complement Zindi’s practical skilling with courses and certifications in AI, data science, and data analysis, Celina Lee, co-founder and CEO of Zindi, told IGIHE at the forum.
“With this partnership, we’ll be upskilling 10,000 people across Africa in data and AI skills,” Lee stated.
Microsoft Africa President, Lillian Barnard, expressed her enthusiasm for the partnership, saying the company’s goal is to ensure that AI is developed and used in ways that benefit all Africans.
“Bridging the digital skills gap in Africa is vital to the future success of that endeavour. By partnering with Zindi, we aim to revolutionise AI skills on the continent, providing cutting-edge AI training and certifications to thousands of developers and future data engineers, preparing the future workers of the world,” Barnard said.
Zindi is Africa’s largest platform for data scientists and AI and machine learning developers.
According to CEO Lee, more than 70,000 people have registered on the platform, mostly young people.
“About half of them are students, all learning data science and AI skills,” the CEO revealed.
Through the platform, data scientists participate in machine learning and data science competitions to win prizes and enhance their reputations, access real-world problems to develop their skills, and explore opportunities posted by Zindi partners. On the other hand, the platform helps companies find top talent to solve their problems.
“We run competitions where companies can put up datasets and problems, and then the community of data scientists, thousands of them, try to build solutions for these real business problems. This means that businesses get access to incredible talent.
“For the young people on the platform, it means they are building real skills that the market demands. For us, we see ourselves as a professional network where data scientists can build up their profiles and skills. More than a professional network, they can showcase what they’re capable of and connect with job opportunities,” the CEO explained.
He made the disclosure at the opening ceremony of the 10th Ministerial Conference of the China-Arab States Cooperation Forum at Diaoyutai State Guest House in Beijing on May 30, 2024.
As he delivered remarks, President Xi highlighted the historical ties and ongoing partnership between China and Arab nations, rooted in the ancient Silk Road and shared struggles for national development.
“The friendship between the Chinese and Arab peoples is deeply rooted in our friendly exchanges along the ancient Silk Road, in our joint struggles for national liberation, and in our win-win cooperation in promoting national development,” he stated.
Reflecting on the ongoing Palestinian-Israeli conflict, President Xi reiterated China’s steadfast support for the establishment of an independent State of Palestine “that enjoys full sovereignty based on the 1967 borders and with East Jerusalem as its capital.”
“War should not continue indefinitely. Justice should not be absent forever. Commitment to the two-state solution should not waver at will,” he asserted.
In a significant move, he announced additional financial support to alleviate the humanitarian crisis in Gaza. “On top of the previous RMB 100 million yuan of emergency humanitarian assistance, China will provide an additional RMB 500 million yuan [approximately US$70 million] of assistance to help ease the humanitarian crisis in Gaza and support post-conflict reconstruction,” President Xi declared.
President Xi further committed to donating US$3 million to the U.N. Relief and Works Agency for Palestine Refugees in the Near East.
The Israel-Palestine conflict resurfaced last year after Hamas attacks on October 7 killed about 1,200 Israelis. Despite over 70 years of unresolved conflict and more than 130 UN resolutions, the war has reignited international divisions. China and Arab states support Palestinians, while Israel faces growing criticism, especially after striking Rafah in southern Gaza. On Monday, the Gaza Health Ministry reported the death toll from Israeli attacks since last October has reached 36,050.
The opening ceremony of the ministerial conference saw the participation of Arab leaders, including King Hamad bin Isa Al-Khalifa of Bahrain, Egyptian President Abdul Fatah El-Sisi, Tunisian President Kais Saied, President Mohamed Bin Zayed Al-Nahyan of the United Arab Emirates, and Secretary-General Ahmed Aboul Gheit of the League of Arab States.
The leaders reaffirmed their stance on legitimizing Palestinian rights and establishing an independent Palestinian state. They also called for continued efforts to coordinate for lasting peace.
Among others, President Xi highlighted broader themes of cooperation and a shared future between China and Arab states. He shed light on the progress made since the first China-Arab States Summit in 2022 and announced plans for the second summit in China in 2026.
“China is satisfied with the progress we have made in delivering on the Summit’s outcomes. It will work with the Arab side to enhance the role of the Summit in providing strategic guidance for continued leapfrog growth of China-Arab relations,” he said.
Emphasizing mutual respect and shared goals, President Xi outlined five cooperation frameworks to build a China-Arab community with a shared future. These frameworks include innovation, investment and finance, energy cooperation, economic and trade ties, and people-to-people exchanges.
“Building a China-Arab community with a shared future is a strong statement of our common desire for a new era of China-Arab relations and a better future for the world,” he remarked.
President Xi also addressed the importance of global governance and multipolarity.
“The entire humanity shares one common future, which has become an inevitable trend. But deficits in governance, trust, peace, and development are getting wider. This calls on us to improve global governance under the principle of ‘planning together, building together, and benefiting together,’” he stated, expressing China’s readiness to work with Arab nations to champion an equal and inclusive global order.
Spiro was named alongside giant car manufacturers Toyota and BMW in the coveted list unveiled on Thursday, May 30, 2024.
Other renowned firms on the list include Microsoft, Google, Rappi, Huawei, Amazon, Airbus, Tata Group, OpenAI, Pfizer, and Bank of America.
Kenya’s asset financing platform M-Kopa and Food4Education, which supplies subsidized nutritious meals to primary school children, also made the list.
The Time 100 Most Influential Companies list celebrates businesses making extraordinary contributions in their fields, shaping the future of industries and society.
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Founded in 2019, Spiro launched in Togo and Benin in 2022, followed by Kenya, Rwanda, Uganda, and Africa’s most populous country, Nigeria, last year.
In Uganda, the e-bike and battery swapping provider has partnered with the government to replace its emission-heavy moto taxi fleet, known as boda-bodas, with electric two-wheelers.
Spiro bets on commuters’ needs in populous African cities to double its fleet of 14,000 electric bikes by the end of 2024.
Commenting on the Time’s recognition, Kaushik Burman, CEO of Spiro, said, “This recognition for Spiro in the Time 100 list is humbling and will catalyze our efforts to demonstrate our ability to innovate and deploy affordable mobility to customers, thereby fostering financial inclusion and empowering the lives of our customers and communities.”
Anish Jain, Group CEO of Equitane, Spiro’s holding company, added, “This accolade underscores the innovative work we are doing in Africa and beyond. We are committed to expanding our services and infrastructure to support the growing demand for sustainable transportation options.”
This is the revolutionary concept behind Canon’s “World Unseen” project. Going beyond the traditional frame of a photograph, “World Unseen” employs innovative techniques to create an inclusive experience of photography, particularly for visually impaired individuals.
In their very first exhibition in Africa, Canon Central and North Africa brought this campaign closer to home at GITEX Africa 2024, the largest three-day technology and startup event in Africa, ongoing in Marrakech, Morocco.
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The technology behind elevated prints, bringing the power of imaging to everyone, includes the Arizona 2300 FLXflow using PRISMAelevate XL software. Thanks to the elevated print, people can feel the different elements of the scenes through shapes, highlighted areas, and textures, allowing them to visualize the images through touch.
At the Canon booth in Marrakech, delegates, both visually impaired and sighted, were able to have multi-sensory experiences connecting them with powerful images and the stories behind them through audio descriptions, soundscapes, and braille.
The exhibition featured a series of photographs taken by world-renowned photographers including multi-award-winning South African photojournalist Brent Stirton, renowned Brazilian Photojournalist Sebastião Salgado, Nigerian photojournalist Yagazie Emezi, sports photographer Samo Vidic, fashion photographer Heidi Rondak and Pulitzer winning photojournalist Muhammed Muheisen.
Hamid Nabil was among the individuals who had the opportunity to experience the power of this innovative technology aimed at fostering inclusivity and deeper appreciation for diverse perspectives.
Visually impaired, Nabil was Morocco’s first visually impaired student to graduate with a doctorate degree in English Studies from Rabat’s Mohammed V University.
Rashad Ghani, the B2C Director for Canon Central and North Africa, said the new innovative project is part of the renowned Japanese imagery brand’s commitment to contributing to a more inclusive society.
“It is Canon’s philosophy of Kyosei, you know, working and living together for the common good. That’s how Canon is. Canon is not only a brand that creates something for, you know, a product to do business. They always look at society and something to enhance in the society.
“Being an imagery brand for so many years, you know, giving products to create photographs. Yes, people can see it. But then also Canon as a brand positions itself that why those people who cannot see should not feel the product or feel the picture. And that’s where I think this has come out as a concept where they can also feel what is around them and they can also sense what exactly the pictures and the images are,” he stated.
Ghani affirmed that the elevated printing feature is just one among many available on Canon printers, and the company will stay abreast of the ever-changing world of technology to keep giving its customers new experiences.
The second edition of GITEX Africa kicked off in Morocco, on Wednesday, May 29, 2024, and will close on Friday, May 31, 2024. The three-day event showcases the latest innovations and trends in tech, with a focus on connecting businesses, entrepreneurs, and investors.
Speaking during Kenya’s National Prayer Breakfast on Thursday, May 30, President Ruto said that as a “responsible steward,” there was no way he could spend the colossal amount on the trip, insisting, “I am not a madman”.
According to the Kenyan Head of State, his friends offered the plane after he decided to travel on Kenya Airways (KQ) to the US upon learning that it would cost the taxpayers at least Ksh70 million on a chartered flight.
“I am a very responsible steward believe you me. There is no way I can spend Ksh200 million in fact it cost the republic of Kenya less than Ksh10 million because I am not a madman,” President Ruto defended himself.
“When I was told the cheapest plan was Ksh70 million I told my office, go and book Kenya Airways so when some friends of mine heard that I was going to travel Kenya Airways, and I have built a big reputation as a country, some friends told me how much are you willing to pay? I said I’m not willing to spend more than Ksh20 million they said bring Ksh10 million we give you the plane.”
He emphasized that as president, he was committed to leading from the front in implementing the government’s austerity measures to cut spending.
“Look at me Kenyans, look at me again. I must lead from the front as I tell others to tighten up their belt mine must be where to begin. So relax and the debate must end because I am that responsible and it is going to be that way,” Ruto added.
“My plan is that in 3 years we must have a balanced budget.”
President Ruto’s choice of a luxurious private jet for his trip to the US drew mixed reactions with a section of Kenyans questioning his commitment to cutting government spending by state officers.
Upon his return to the country after the four-day visit, he was forced to clear the air, explaining that travelling on the private jet was way cheaper than travelling on Kenya Airways, the country’s national carrier.
“Fellow Kenyans, I have noted concerns on my mode of transport to USA. As a responsible steward of public resources and in keeping with my determination for us to live within our means and that I should lead from the front in so doing, the cost was less than travelling on KQ,” President Ruto said in a post on X last Sunday.
The local media had reported that State House Kenya charted the luxurious aircraft from Dubai-owned RoyalJet company for the president and his delegation’s trip to the US. According to KTN News, the cost of hiring the jet is about $1.5 million (about Ksh200 million).
The US government had earlier denied reports that it paid for the aircraft the Kenyan delegation used for the US trip.
“Just to be clear: The United States of America did not pay for President Ruto’s jet to the US,” a spokesperson for the US embassy in Nairobi told the press.
Since assuming office in September 2022, President Ruto has imposed several austerity measures including banning non-essential travel by state officials over financial constraints.
The president has also introduced new taxes on various goods and services, even as he and his deputy, Rigathi Gachagua, insist that they inherited a “dilapidated” economy from the former administration of President Uhuru Kenyatta.
President Ruto was accompanied by various government officials, members of the opposition, and representatives from the creative economy to the US on May 20. He was the first African leader to make a state visit to the White House in 16 years since Ghana’s John Kufuor visited in 2008.
But after winning election after election for 30 years, the ANC, now led by President Cyril Ramaphosa, is facing its biggest challenge since taking power in 1994. This potentially marks a watershed moment for one of Africa’s most powerful nations and a major test for South Africa’s still-fledgling democracy.
Polling ahead of Wednesday’s election shows that, for the first time, the ANC could fall below 50% of the vote. Although the party would still likely end up controlling the presidency, currently held by its leader Cyril Ramaphosa, it would be forced to enter into a coalition with smaller parties. These smaller parties blame the ANC’s current direction for the nation’s profound problems.
In the years after apartheid ended with the first free, democratic election in 1994, many voters credited the ANC with improving life for South Africans — especially for the black majority that gained basic rights. International sanctions that had hampered the economy were lifted, and the gross domestic product surged.
This year, a record 51 opposition parties are on the national ballot attempting to unseat the ANC. Some of them are new parties, while others are campaigning on specific issues like closing the borders, or appealing to specific ethnic groups. According to the Electoral Commission of South Africa, 27.79 million South Africans aged 18 and above have registered for the elections this year, up from 26.74 million in 2019.
According to the Electoral Commission of South Africa, 27.79 million South Africans aged 18 and above have registered to vote in this year’s elections, up from 26.74 million in 2019.
The Democratic Alliance, the second-largest party in the 2019 election, is campaigning on a platform of combating widespread corruption and revitalizing the economy. Party leader John Steenhuisen has urged voters to oust the ANC to “rescue” the country, calling this “South Africa’s most consequential election in post-democratic history.” However, the party faces the perception of being predominantly supported by white voters.
The ANC is also challenged by the Economic Freedom Fighters, a party founded about a decade ago. Its core supporters are young people, including many black university students concerned about racial inequality. With polls indicating around 11% support ahead of Wednesday’s election, EFF leader Julius Malema has criticized the ANC’s platform for lacking ambition.
A newcomer to the political scene is uMkhonto weSizwe, or the MK party, named after the ANC’s former paramilitary wing. Formed last year by former South African President Jacob Zuma as a breakaway from the ANC, the MK party faces the obstacle of Zuma’s ineligibility to run for office due to a criminal conviction for contempt of court. Nevertheless, his face will appear on the ballot alongside his party.
As the nation heads to the polls, the ANC faces unprecedented challenges, and the outcome of this election could reshape South Africa’s political landscape for years to come.
President Kagame said that some powerful entities have not been responsive to calls for reforming the existing financial systems due to fears of losing influence and control over the sector.
The Head of State spoke on Wednesday, May 29, during the presidential dialogue on the topic “Africa’s Transformation, the African Development Bank (AfDB), and the Reform of the Global Financial Architecture” at the AfDB annual meetings in Nairobi, Kenya.
He emphasized that it was a “no-brainer” that financial systems designed more than 50 years ago are no longer viable today.
“Things have changed, and therefore, a rethink of a new design that fits the purpose must be put into play. There is no doubt about that. I think everybody understands that point, but there are interests that operate behind it. For us in Africa, we are hard-pressed to see there is a change in the design of these institutions. But maybe the way the institutions are set up benefits some parts of the world. Those in those parts of the world are not interested, or they are being slow in allowing the change to happen because it gives them control and say over other people’s resources,” President Kagame stated.
“Everybody understands [that reforms are necessary]. What is complicated is reaching this understanding and compromising that we don’t lose anything by having everybody benefit as we should benefit, all of us.”
President Kagame also noted that for Africa to achieve the much-needed gains, the continent must be united and speak in one voice.
“Africa’s interests must be taken care of, beginning with ourselves…it has to be with one voice but also loud, clear, and effective. For that to happen, we think about working together,” he said.
“The reform we are talking about is how to disrupt the current architecture so that it includes significantly and visibly the interests of our continent.”
He said the rest of the world can not afford to ignore the African continent as it’s the only region that will have a growing middle-income class in a “few decades”.
“In a few decades, the only place in this world that will have a growing middle class is Africa. So it is even in the interest of the rest of the world that has marginalized Africa to contribute to the wellbeing of our continent. Because the growth of Africa, based on this middle-class, feeds into the growth of the rest of the world,” President Kagame said, adding “But Africa cannot wait to be handed this opportunity by anybody else, we therefore must be on the frontline, fighting for this right, for ourselves but also which contributes to the wellbeing of the rest of the world.”
The presidential dialogue was part of the five-day 59th Annual Meeting of the Board of Governors of the African Development Bank and the 50th Meeting of the Board of Governors of the African Development Fund taking place at the Kenyatta International Conference Center (KICC).
Kenya’s President William Ruto, who was among the panellists, also emphasized that the reforms were long overdue and should solve the continent’s most pressing issues including climate change.
“The issue of reforms is settled; it must be done. We need a financial architecture that has long-term financing, with 40 years or 10 years grace period, low-interest rates, concessional financing, including where possible grants. We also need financing at scale; the quantum is very important. We also need finance that is agile, flexible, and especially climate-sensitive. So, if there are shocks, that financial architecture must be responsive because climate change is the new normal,” President Ruto explained.
“Switching from drought to floods progressively is becoming what it is. In Kenya, we had a drought a year ago that decimated 2.5 million herds of livestock. This year alone, we are on floods that have taken the lives of 200 Kenyans. So, this is the new reality. The financial architecture that must be in place must respond to this climate reality we have.”
The Annual Meetings comprise Member States’ invitation-only sessions, closed bilateral meetings, as well as events open to all attendees, including the press. They provide a forum for Bank Group Governors to share their experiences with managing a mounting burden of public debt, which has surged following the global economic shocks of the last few years.
The meetings also offer a forum for the delegates to examine the African Development Bank’s contribution to Africa’s socio-economic transformation.
Speaking to IGIHE, following the closing ceremony of the festival held from May 20th to 26th, 2024, the youths expressed their commitment to strengthening China-Africa relations.
The event which took place in Ruyi Hall of Your World International Conference Center in Yiwu County, Zhejiang Province, brought together Chinese officials and youth representatives from Africa and China.
A total of 64 youths from 52 African countries, including Rwanda, participated in the festival organized under the framework of the China-Africa Cooperation Forum (FOCAC).
The event also attracted nearly 30 African journalists participating in a four-month media exchange program organized by the China International Press Communication Center (CIPCC).
Throughout the festival, the youths visited significant sites such as the Common Prosperity Belt in Jindong, explored Chinese rural culture, toured the China-Africa Museum at Zhejiang Normal University, and visited Leapmotor, a new energy vehicle manufacturer.
In addition, they experienced traditional Chinese performances by the Zhejiang Wu Opera, visited the People’s Livelihood Conference Hall of the CPPCC, Hengdian World Studios, Yiwu International Trade Market, and Zhejiang Guangsha Vocational and Technical University of Construction.
This immersive experience allowed them to witness firsthand the rapid development and cultural richness of China.
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Ghislain Niyonzima, a representative from Burundi who works with a travel agency shared his insights.
“Observing how China has developed its country, despite still working to achieve envisaged modernization, is impressive and inspiring. This teaches us a lesson about not being complacent, regardless of our achievements,” Niyonzima said.
He emphasized the importance of maintaining the gains achieved in China-Africa cooperation and highlighted the suitability of Chinese democracy in addressing people’s needs.
“We should learn from China’s homegrown solutions, which are suited to their people’s needs, to develop our own countries and ensure these values are deeply rooted in our culture as well,” added Niyonzima.
Danny Vassyli Mugisha, a Rwandan representative was particularly struck by China’s development over the past 40 years.
“A lot has been achieved in different aspects of development. From technological advancements to conserving the culture, everything is a source of inspiration. I also learned a valuable lesson from the commitment and discipline of the people of China, seeing how they have been able to go through tough times and succeed in just a few years. This is what I am taking with me home,” Mugisha noted.
Mugisha observed that the role of the youth is of great significance in consolidating gains attained through China-Africa cooperation, especially considering that the majority of people in Africa are young.
“People like me, who have had the opportunity to participate in such cultural exchanges, should share experiences with a view to uphold the rich legacy and strengthen bonds between China and Africa,” he said.
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Cyprien Kouassi from Ivory Coast had a different impression about China until he got an opportunity to attend the festival, where he witnessed its development, political system, and overall progress firsthand.
“My view has changed. My message to African youth is that they must understand that poverty should not be a barrier, as China has demonstrated that it is possible to eliminate it,” he noted.
In 2021, China declared the eradication of extreme poverty, lifting 770 million people out of poverty since 1978 and establishing a moderately prosperous society.
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Kouassi also appreciated Chinese hospitality, which he described as integral to the Asian country’s identity.
“Chinese hospitality has greatly impressed me. Since our arrival, the assistance of young volunteers who were with us, all the way from Beijing through Yiwu, has been impeccable,” he shared.
Kouassi emphasized that this mentality should be ingrained in African hearts so that such warm reception can be emulated in their countries.
“China has shown that everyone knows what hospitality is and they put it into action through the reception extended to us. Here, hospitality is among the major aspects making China’s unique identity,” he added.
Burundian Niyonzima also expressed his gratitude for the warm reception and hospitality, which has left him with indelible memories of his stay in China.
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Abdul Jabbar Hashim Kolo, a lawyer from Ateef Law Firm in Nigeria, was equally impressed and excited about what he saw in China.
“Even before coming to China, the whole world’s attention has been on what China has achieved in terms of development over the last forty years. But coming here, I have witnessed that seeing is better than hearing,” he noted.
Kolo highlighted that besides development, economic growth, and prosperity, he had also been able to appreciate China’s very rich culture.
“I have participated in activities of arts and crafts, wood carving, and minimal pottery as well, which are very similar to those in Africa. However, China has gone an extra mile by integrating it into educational institutions, allowing people to perfect their art,” added Kolo.
He expressed delight at the flourishing tourism sector of China, infrastructure, and manufacturing, all offering lessons worth replicating.
On furthering Africa-China cooperation, Kolo stressed the need for “a platform to see how we can continue this dialogue going forward so that the door remains open not only for African participants and China but also for Africans to communicate with each other.”
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During their visits, the youths also attended a session of the Representative Discussion Station of the Wuyi County-level Committee of the Chinese People’s Political Consultative Conference (CPPCC).
At the Wuyi People’s Livelihoods Consultative Hall, participants discussed a proposal to construct commercial streets.
The discussion included leaders and business representatives to ensure the project’s implementation meets community needs without setbacks.
According to Li Yangyong, Chairman of the Wuyi Committee of the CPPCC, these consultations are part of the CPPCC model and involve several stages, including research and engagements with relevant stakeholders.
The agreed-upon resolutions are forwarded to higher authorities, with the hope of endorsement, considering the thorough consultations and research conducted beforehand.
While the Two Sessions address major national issues, the CPPCC consultations in Wuyi focus on the daily lives of villagers.
Nigerian Kolo disclosed that he appreciated the discursive nature of the CPPCC consultations, as well as their approach to involving people in development and preparing for future challenges.
“They didn’t just come and build it; they made the community understand what they were doing. This creates a sense of ownership of the project within the community and gives insight into the intentions of the people, making it easier for them to embrace and support the project,” he noted.
Kouassi from Ivory Coast also indicated that Africa should learn from the political system of China, which is designed to address the needs of the population through decentralization, from the central leadership of CPC in Beijing to a small village in Wuyi. “I mostly liked the structure that ensures that people’s problems are accurately represented,” he noted.
With a population of 1.4 billion, Africa is the continent with the youngest population worldwide, with over 400 million aged between 15 and 35.
Tanzanian Joseph Brighton Malekela, Chief Operations Officer of the Africa-Asia Youth Foundation, called on the youth to learn and understand the history behind the enduring friendship between China and Africa marked by solidarity and cooperation spanning centuries for them to carry the legacy forward.
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Liu Hongwu, Director of the Institute of African Studies at Zhejiang Normal University, highlighted that Africa made enormous contributions to the development of China and observed that China is always committed to supporting developing African countries.
Liu reminisced about the fact that 80% of the global south are developing countries and stressed the need for joint efforts and ventures for the Chinese and African dreams to materialize.
China, the world’s second-largest economy, has been a major contributor to African development through different initiatives, notably through the Belt and Road Initiative (BRI), which continues to drive remarkable progress in Africa, forging strong ties between China and African nations, while fostering economic growth and cooperation across the continent.
Experts project that by 2040, the BRI could increase the world GDP by $7.1 trillion annually, benefiting world trade by overcoming the frictions caused by inadequate infrastructure.
Over 50 African countries have joined the BRI, embracing the rewards of improved infrastructure, reduced unemployment, and expanded trade opportunities. Driven by the BRI, Chinese companies have undertaken awe-inspiring infrastructure projects in Africa.
Over the period of 23 years, they have constructed or upgraded more than 10,000 kilometers of railways, nearly 100,000 kilometers of roads, approximately 1,000 bridges, and 100 ports. These transformative projects have not only enhanced trade but have also created over 4.5 million jobs, breathing new life into African communities.
Addressing a press conference in Kigali, NBR Governor John Rwangombwa announced that Rwanda’s inflation rate had dropped to 4.7 per cent in the first quarter of 2024 from 8.9 per cent registered in the last quarter of 2023. He added that the bank expects inflation to remain within the target of 5 per cent in 2024 and 2025.
“We expected inflation to ease to around 5% this year, and in the first quarter, we registered an average of 4.7%. We expect this trend to continue for the rest of the year. At least, our average projection for this year is 5%, which is the same projection we have for 2025,” the Central Bank boss told the media.
The governor noted that the economy had recorded good performance in the agriculture sector in the first quarter, adding that normal performance is expected in the second quarter. He noted that the prices of food are expected to remain normal during the period.
“We saw good performance in agriculture in the first quarter of this year. We expect normal performance for season B—not as strong as we registered in season A, but good enough to maintain food prices at affordable/normal rates,” he added.
While acknowledging the positive progress, Governor Rwangombwa warned of several potential risks to the economic outlook. These include global geopolitical tensions, particularly in the Middle East, which could disrupt international commodity prices, as well as adverse weather conditions in Eastern and Southern Africa.
“Within the region, we have had challenges in the southern part of Africa, especially Zambia, which was a main supplier of maize to the region. It was hit by drought, and this might affect the process of food in general. But for now, our baseline shows that the inflation remains around 5%,” Governor Rwangombwa stated.
He added, “With these projected economic fundamentals, the monetary policy committee decided to reduce the monetary policy rate by 50 basis points to 7% from 7.5%, which we had since the last quarter.”
The decision to reduce the country’s monetary policy rate is expected to make borrowing more affordable compared to last year, encouraging increased spending and investments.
The headline inflation rate in Rwanda has declined steadily since January 2023 when the rate stood at 20.7 per cent. By the end of the first quarter of 2023, the inflation rate had dropped to 19.3 per cent.
In April 2023 the inflation rate dropped to 17.8 per cent and declined further to 14.1 in May. By the end of July 2023 the rate was at 11.9 per cent.
In August the rate increased slightly to 12.3 per cent and 13.9 per cent by the end of September. Since then the rate has been on a downward trend hitting 11.2 per cent in October, 9.2 per cent in November, 6.4 per cent in December, 5.4 per cent in January 2024, 4.9 per cent in February and 4.2 per cent in March.
