Why Are So Many African Countries Facing a Huge Debt Crisis Right Now?

According to the International Monetary Fund, 22 countries in Africa are either in debt distress or at high risk of debt distress –that is, they are unable to fulfill their financial obligations to creditors. This is nearly double the number of countries in Africa in some form debt crisis just a few years ago.

 

Why so many African countries are facing a fiscal crisis today and the implications of debt distress for economic and social development is explained at length by my guest today Mark Plant, senior policy fellow at the Center for Global Development.

 

We kick off discussing why Ghana and Zambia are illustrative of broader fiscal trends in Africa and then have a discussion about the policy conundrums facing countries as they navigate fiscal crises and seek to satisfy creditors without sacrificing substantial gains in economic and social development.

 

 

Source: UN Dispatch

Climate action: what’s new and what’s next in 2023

The year 2022 was certainly one of extremes when it comes to climate disasters. Record-breaking temperatures and shocking floods, droughts and storms devastated many regions of the world.

But despite the destruction and loss of lives, new technologies, resilient communities and historic agreements — including a new mechanism to respond to loss and damage from climate change — offer signs of hope.

During 2022, the World Food Programme (WFP) provided food and other assistance to over 160 million people, including many hit by climate disasters. In over 30 countries, WFP also supported communities to better anticipate and prepare for climate impacts— for example, through some US$11 million in insurance payouts, and cash assistance reaching roughly one million people ahead of forecasted climate hazards.

With this year promising another wave of climate-related disasters — which will contribute to rising humanitarian needs — innovative ideas, collective action and radical climate solutions are more urgent than ever.

Here, we’ll explore what lies ahead for the climate world — and WFP — in 2023:

Climate-driven humanitarian crises

“Unprecedented” often feels like an overused word. And whilst 2022 certainly was an unprecedented year of climate disasters, experts warn of bigger and deadlier weather events to come. While it can take months for scientists to establish a direct link, our changing climate is increasingly influencing many of the world’s emergencies — posing massive challenges for WFP and other humanitarian responders.

Last year deepened the worst drought on record in the Horn of Africa, destroying crops and livelihoods and pushing communities to the brink of famine. Meanwhile, severe floods affected 19 countries across West Africa and plunged one-third of Pakistan underwater.

The first week of 2023 alone saw many countries in Europe observing the warmest January day on record — after experiencing, in 2022, the second warmest year ever recorded.

For the communities supported by WFP, these record-breaking changes have meant increased hunger, at a time when humanitarian budgets are tightening. Today, nearly 350 million people face acute food insecurity worldwide. Yet in 2022, WFP received only around two-thirds of its funding needs.

Most devastating of all, those suffering the worst impacts did little to cause the problem. The 20 countries on the International Rescue Committee’s 2023 Emergency Watchlist – including drought-hit Somalia and flood-hit Pakistan – contribute only two percent of global greenhouse gas emissions.

Global meetings and “no-nonsense” action

With country climate action plans and commitments falling “woefully short,” UN Secretary-General Antonio Guterres is convening a “no-nonsense” climate action summit this September.

“No exceptions. No compromises,” he says of a gathering expected to focus on concrete, practical solutions and collective action in tackling the greatest threat facing humanity.

In December, when Dubai hosts the 28th UN Climate Change Conference (COP28), world leaders will hopefully come armed with new, more ambitious commitments to lower emissions and protect people from loss and damage — the hot topic of the climate world in 2022.

“We hope that the climate summits in 2023 will see much more concrete commitments to reduce greenhouse gas emissions and help the most vulnerable communities on the climate frontlines to protect themselves from loss and damage,” says Gernot Laganda, WFP’s Director of Climate and Disaster Risk Reduction Programmes.

Loss and damage

In the central African country of Chad, sandwiched between the Sahara desert and more fertile Savannah, pounding rains wiped out farmer Mahamat Kary’s 2022 maize harvest.

“The rain is normally supposed to help us grow food to eat, but now it is becoming an issue, as you can see,” he says. “There is nothing more catastrophic than this water. All the flooded crops are destroyed.”

Mahamat received some support through a WFP resilience-building project to build a dike, aimed to protect maize harvests. But such assistance cannot cover catastrophic climate-related losses increasingly afflicting countries like Chad, which contribute just a fraction of global emissions.

Last year, and after decades of advocacy from developing countries, leaders at COP27 agreed to establish a loss and damage fund; a financing mechanism to compensate vulnerable countries on the frontlines of the climate crisis.

But the hard work is still to come. A multi-nation committee will recommend how the fund should be set up and financed by December’s COP28.

“A key principle of loss and damage funding should be that it is directed to local efforts and initiatives, starting with the most vulnerable first,” says Laganda. “First and foremost, this funding needs to go to solutions which protect local communities from harm and avoid them becoming dependent on debt, aid or charity.”

New numbers, new ideas

With one in 23 people worldwide likely to need help to survive this year, scaling up climate adaptation solutions for vulnerable communities is more crucial than ever. Those needs will only mount as the planet heats up.

In April, scientists will issue a final figure for 2022’s global average temperature. Currently the world is about 1.15°C degrees above the pre-industrial average — dangerously close to the 1.5°C degree limit world leaders agreed to in 2015.

“The unabated rise in global temperatures and the resulting increase in climate-related disasters is pushing the humanitarian system to breaking point,” WFP’s Laganda says. “We urgently need the funding and systems in place to scale-up climate adaptation solutions in food systems — combining hazard forecasting with physical and financial protection.”

One example is WFP’s climate insurance programme, which delivers payments to farmers after climate impacts have damaged their crops. In 2023, the programme aims to provide at least three million vulnerable people with insurance coverage.

WFP’s anticipatory action programme — which uses early warning systems to provide assistance to people at risk before disasters strike— aims to scale up to cover five million people by 2025.

“This year is bound to be another challenging year for tackling climate change,” says Laganda.

“But with renewed energy from communities, governments, scientists and development partners, 2023 can also be a year of good news and transformation,” he adds. “We have the power to create a better, more sustainable future.”

 

 

Source: World Food Programme

Flooid Announces Strategic Partnership with FreedomPay to Expand Global Reach

The partnership will bring enhanced commerce functionality to Retailers around the world.

London, England, Jan. 13, 2023 (GLOBE NEWSWIRE) — Flooid today announces a strategic partnership with FreedomPay, the global leader in Next Level Commerce™, to bring industry-leading Retail solutions to merchants globally.

Powered by FreedomPay, Flooid allows merchants to connect their retail channels, removing barriers between online and in-store payments. FreedomPay’s data-driven commerce platform grants merchants access to valuable analytics and Business Intelligence platform to drive further customer engagement and loyalty through targeted offers and incentives, all within a frictionless integrated payment solution.

“Through this partnership with FreedomPay, we are bringing enhanced innovation, choice, and flexibility to retailers on the Flooid platform,” said Donna Stevens, Senior VP of Product and Marketing at Flooid. Our goal is to empower merchants with the tools they need to provide the best shopping experience to consumers globally.”

The FreedomPay platform enables enterprises to provide a consistent payment experience for their customers globally, creating a seamless and flexible retail experience managing security, data and loyalty all from a single, unified tech stack.

“The partnership between FreedomPay and Flooid will bring a world-class commerce experience to retailers and shoppers around the globe,” said Liesl Smith, Senior VP of Marketing and Sales Enablement at FreedomPay. “Together we are committed to delivering a seamless payment experience to customers, enabling an innovative and seamless omnichannel payment environment.”

About FreedomPay

FreedomPay’s Next Level Commerce™ platform transforms existing payment systems and processes from legacy to leading edge. As the premier choice for many of the largest companies across the globe in retail, hospitality, lodging, gaming, sports and entertainment, foodservice, education, healthcare and financial services, FreedomPay’s technology has been purposely built to deliver rock solid performance in the highly complex environment of global commerce. The company maintains a world-class security environment and was first to earn the coveted validation by the PCI Security Standards Council against Point-to-Point Encryption (P2PE/EMV) standard in North America. FreedomPay’s robust solutions across payments, security, identity, and data analytics are available in-store, online and on-mobile and are supported by rapid API adoption. The award winning FreedomPay Commerce Platform operates on a single, unified technology stack across multiple continents allowing enterprises to deliver an innovative Next Level experience on a global scale. www.freedompay.com

About Flooid

Flooid helps retailers create the seamless shopping experiences customers demand. Flooid’s unified commerce platform empowers merchants to sell to customers flexibly and consistently wherever they are and however they choose to shop. Our best of breed open ecosystem givers retailers the power to connect leading retail tech partners with a single unified commerce platform to engage with your shoppers, sell more effectively across channels and adapt to retail shopping changes we have yet to imagine.

Jennifer Tayebi
Hill+Knowlton Strategies for FreedomPay
+1 734 395 0780
Jennifer.Tayebi@hkstrategies.com

GlobeNewswire Distribution ID 8729158

Hisense élargit les options de divertissement à domicile pour les consommateurs sud-africains avec le lancement du nouveau téléviseur ULED 8K U80H Mini-LED

CAPE TOWN, Afrique du Sud, 13 janvier 2023 /PRNewswire/ — Hisense, marque d’électronique mondiale leader, a récemment annoncé la sortie du téléviseur ULED 8K U80H Mini-LED en Afrique du Sud. Le téléviseur U80H offre une profondeur et des détails inégalés, avec 33 millions de pixels, soit 4 fois plus qu’un téléviseur 4K standard. Ce téléviseur intelligent de nouvelle génération est également doté d’un certain nombre de fonctionnalités innovantes, qui créent une expérience de divertissement véritablement immersive.

Le téléviseur U80H est équipé d’un upscaler d’image par IA 8K, capable d’augmenter les performances de l’image pour obtenir des normes d’image d’une qualité exceptionnelle avec des détails très précis. Au lieu de simplement dupliquer les pixels, l’algorithme intelligent peut analyser les images et restituer les bons pixels pour améliorer la qualité et la précision de l’image. En outre, le processeur Hisense Hi-View Engine Pro intègre un ensemble d’algorithmes de deep learning pour analyser intelligemment les images trame par trame et ajuster les pixels avec précision, en optimisant les ombres et la luminosité. La combinaison de ces outils innovants permet d’obtenir un affichage à plage dynamique élevée, avec une riche gamme de couleurs, haute définition et avec une haute fluidité de mouvement.

Le téléviseur U80H utilise la technologie Mini-LED Pro de Hisense qui optimise plus de 500 zones de gradation locales pour apporter des améliorations notables à la plage de luminosité, à la visibilité des détails et à la netteté entre les images claires et sombres. Grâce aux cristaux Quantum Dot Colour, les trois couleurs primaires sont affichées avec beaucoup plus de précision que sur les téléviseurs LED classiques, et la technologie de pointe HDR10+ utilise les métadonnées dynamiques de chaque image pour ajuster les paramètres de couleur, de luminosité et de contraste, ce qui donne une image beaucoup plus réaliste. Pour le son, bien que le téléviseur U80H puisse être connecté à n’importe quelle enceinte, il est également doté de la technologie Dolby Atmos® de classe mondiale pour une expérience audio des plus riches.

Android TV est intégré directement au téléviseur U80H, ce qui signifie que les utilisateurs peuvent choisir parmi plus de 400 000 films et émissions grâce aux services de streaming. Le produit se revendique comme « la seule façon de profiter chez soi d’une image, d’un son et d’une échelle dignes de l’IMAX », grâce à la technologie IMAX® Enhanced qui associe des contenus HDR 4K remastérisés numériquement et des technologies audio DTS® aux meilleurs produits électroniques grand public et plateformes de streaming. En ce qui concerne les modes de divertissement, les appareils prennent en charge la technologie Game Mode PRO avec eARC, ALLM et VRR pour minimiser le décalage des entrées, la gigue de l’écran et les tremblements.

Pour une utilisation facile, ces modes et d’autres fonctions peuvent être contrôlés à l’aide de la commande vocale, ce qui permet aux utilisateurs de n’utiliser que leur voix pour rechercher, régler et contrôler les téléviseurs et autres appareils intelligents de la maison.

Le modèle Hisense U80H 75 pouces est disponible chez Hirsch’s. Veuillez consulter https://hisense.co.za/products/hisense-u80h-mini-led-uled-8k-tv/.

Photo – https://mma.prnewswire.com/media/1982077/image_5020023_14499256.jpg

‫‫Hisense تثري خيارات الترفيه المنزلي للمستهلكين في جنوب إفريقيا بإطلاق تلفزيون U80H Mini-LED ULED 8K الجديد 

كيب تاون، جنوب إفريقيا، 13 يناير 2023 / PRNewswire / — شركة Hisense ، العلامة التجارية العالمية الرائدة في مجال الإلكترونيات، أعلنت مؤخرًا عن إطلاق تلفزيون U80H Mini-LED ULED 8K في جنوب إفريقيا. يوفر تلفزيون U80H عمق وتفاصيل لم يسبق لها مثيل، مع 33 مليون بكسل – 4 مرات أكثر من تلفزيون 4K قياسي. يأتي الجيل التالي من التلفزيون الذكي أيضًا مع عدد من الميزات المبتكرة، حيث يتم تصميمه لخلق تجربة ترفيهية غامرة حقًا.

يأتي تلفزيون U80H مع  8K AI Upscaler قادر على رفع مستوى أداء الصورة لتحقيق معايير صور عالية الجودة بشكل استثنائي مع تفاصيل دقيقة. بدلًا من تكرار وحدات البكسل ببساطة، يمكن للخوارزمية الذكية تحليل الصور وتقديم وحدات بكسل مناسبة لتحسين جودة الصورة ودقتها. بالإضافة إلى ذلك، يدمج  Hi-View Engine Pro  من Hisense مجموعة من خوارزميات التعلم العميق لتحليل الصور بذكاء من إطار إلى إطار وضبط وحدات البكسل بدقة، مما يحسن الظلال والسطوع. معًا، تحقق هذه الأدوات المبتكرة نطاقًا ديناميكيًا عاليًا وسلسلة ألوان عالية ودقة عالية وشاشة عالية الطلاقة في الحركة.

يستخدم تلفزيون U80H جهاز  Mini-LED Pro من Hisense  الذي يعمل على تحسين أكثر من 500 منطقة تعتيم محلية لتحقيق تحسينات ملحوظة في نطاق السطوع، ورؤية التفاصيل، والحدة بين الصور الساطعة والمظلمة. مع  Quantum Dot Colour ، يتم عرض الألوان الأساسية الثلاثة بدقة أكبر بكثير من تلفزيونات LED التقليدية، وتستفيد تقنية HDR10 + المتطورة من البيانات الوصفية الديناميكية من كل إطار لضبط اللون والسطوع ومعلمات التباين، مما يجعل الصورة أكثر واقعية. بالنسبة للصوت، على الرغم من إمكانية توصيله بأي جهاز مكبر صوت، إلا أن تلفزيون U80H يتميز أيضًا بتقنية  Dolby Atmos®  ذات المستوى العالمي لتوفير تجربة استماع غنية للغاية.

يحتوي تلفزيون U80H على تلفزيون Android مدمج، مما يعني أنه يمكن للمستخدمين الاختيار من بين أكثر من 400000 فيلم وعروض عبر خدمات البث. يبيع المنتج نفسه على أنه “الطريقة الوحيدة لتجربة مميزة تشبه IMAX من جهة الصورة والصوت والحجم في منزلك”، مع  IMAX® Enhanced  الذي يجمع بين محتوى 4K HDR المعاد تشكيله رقميًا وتقنيات الصوت DTS ® مع أفضل المنتجات الإلكترونية الاستهلاكية في فئتها ومنصات البث. من حيث أوضاع الترفيه، تدعم الأجهزة  Game Mode PRO  مع eARC و ALLM و VRR لتقليل تأخر الإدخال وتهيج الشاشة والاهتزاز.

لسهولة الاستخدام، يمكن الوصول إلى هذه الأوضاع والوظائف الأخرى من خلال التحكم الصوتي بدون استخدام اليدين، مما يسمح للمستخدمين باستخدام صوتهم فقط للبحث عن أجهزة التلفزيون والأجهزة المنزلية الذكية وضبطها والتحكم فيها.

تلفزيون U80H 75 بوصة من Hisense متاح عند Hirsch . يُرجى مراجعة  https://hisense.co.za/products/hisense-u80h-mini-led-uled-8k-tv/.

الصورة –  https://mma.prnewswire.com/media/1982077/image_5020023_14499256.jpg

ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Avaya Holdings Corp. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – AVYA, AVYAW

NEW YORK, Jan. 12, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Avaya Holdings Corp. (NYSE: AVYA) (OTC: AVYAW) between November 22, 2021 and November 29, 2022, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 6, 2023.

SO WHAT: If you purchased Avaya securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Avaya class action, go to https://rosenlegal.com/submit-form/?case_id=8033 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 6, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s internal control over financial reporting (“ICFR”) was deficient in several areas; (2) as a result of these deficiencies, the Company had failed to design and maintain effective controls over its whistleblower policies and its ethics and compliance program; (3) the Company’s deteriorating financial condition was likely to raise substantial doubt as to its ability to continue as a going concern; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Avaya class action, go to https://rosenlegal.com/submit-form/?case_id=8033 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8729172