Connect with us

World

Okonjo-Iweala, Ruto to Discuss Climate Growth, Investment, Trade Frameworks

Published

on

Okonjo-Iweala WTO

By Adedapo Adesanya

The Director-General (DG) of the World Trade Organisation (WTO), Mrs Ngozi Okonjo-Iweala, and the President of Kenya, Mr William Ruto, will hold a discussion on positive climate growth, investment, and trade in Africa tomorrow (Tuesday, September 19).

The conversation, hosted by the Africa Center in partnership with Global Citizen, Climate Action Platform Africa (CAP-A), and the Government of Kenya, will take place at The Africa Center at Aliko Dangote Hall in New York City.

Speaking on the programme, Mr Uzodinma Iweala, CEO of The Africa Center, said the conversation was coming at a time when Africa is prioritising discussions around climate change impacts and the need to seek solutions.

“We are thrilled and honoured to have President Ruto and WTO DG Okonjo-Iweala join us for this critical conversation at The Africa Center. Recognizing and investing in Africa’s leadership on climate change is not just a matter of environmental responsibility; it’s a testament to the continent’s resilience, innovation, and unwavering commitment to a sustainable future.

“Africa isn’t just adapting to the impacts of climate change; it’s ready and willing to help shape the narrative of our planet’s future. I firmly believe that by acknowledging and harnessing this leadership, we not only protect our planet but also elevate the global stage for African voices, wisdom, and solutions in this fight,” he said.

On her part, Ms Caralene Robinson, Chief Growth Officer at Global Citizen, said: “Africa is where climate change, poverty, and inequity are having the greatest impact. By 2050, a quarter of the world’s entire population will be African, and it will be the world’s youngest continent. The moment is now to unlock opportunity and catalyse inclusive growth to ensure a sustainable future for generations to come.

“Since 2018, Global Citizen has run several campaigns across the continent, and we look forward to further expanding our efforts over the coming year. We are proud to be co-hosting this important discussion with H.E. President Ruto of Kenya and WTO D.G. Okonjo-Iweala, highlighting how the new climate-positive global trade frameworks can enable Africa to become a leader in green innovation and technology.”

For Mr James Mwangi, Founder of CAP-A and Founder and CEO of Africa Climate Ventures, “Climate action in Africa is not just possible and potentially highly competitive, it is indispensable: Africa needs to be net negative to achieve net zero global ambitions by 2050. Conversely, Africa needs climate action as a critical driver for economic transformation and job creation at scale. A transition to a green economy will not happen of its own accord.

“It requires concerted effort and focused leadership. We are honoured to bring together perspectives from H.E. President Ruto and WTO D.G. Okonjo-Iweala on the investment case for Climate Positive Growth.”

The conversation will be live-streamed at theafricacenter.org, and on The Africa Center’s Facebook and YouTube pages. The programme will be available on Global Citizen’s YouTube page following the event.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

World

Relief Across Markets as US-China Agree to Trade Deal

Published

on

us china trade deal

By Adedapo Adesanya

The global markets are experiencing relief as the United States and China, the world’s two largest economies, have agreed to slash tariffs on each other, to ease effects of a trade war.

Speaking after talks with Chinese officials in Geneva, US Treasury Secretary, Mr Scott Bessent told reporters that the two sides had reached a deal for a 90-day pause on measures.

US trade representative Jamieson Greer said so-called reciprocal tariffs were now at 10 per cent each.

Business Post reports that in real terms, the deal means the US is reducing its 145 per cent tariff announced by President Donald Trump to 30 per cent on Chinese goods.

A tariff of 20 per cent had been implemented on China when President Trump took office over what his administration said was a failure to stop illegal drugs entering the US.

China has agreed to reduce its 125 per cent retaliatory tariffs to 10 per cent on US goods.

Sector-specific tariffs, such as the 25 per cent tax on cars, aluminium and steel, remain in place.

Last month, President Trump announced a 90-day pause on the reciprocal tarrifs. However, China was the only country exempt from the pause on the retaliatory tariffs above the base 10 per cent levies.

The development had impacted many markets across the world from stocks to oil to bonds and minerals.

Mr Bessent said after a weekend of negotiations in Switzerland, the countries had a mechanism for continued talks.

It is the second major trade announcement made by the US in the last week, after a deal was secured with the United Kingdom on Thursday.

The move signals a willingness from the Americans to make deals on tariffs.

The news was received positively by major markets.

Brent crude is currently up 2.9 per cent to $65.78 per barrel while the US West Texas Intermediate (WTI) is up 3.1 per cent to $62.91 a barrel.

Asian stock markets on Monday as major indexes were up. In China, the Shanghai Composite stock index rose 0.8 per cent, the Shenzhen Component gained 1.7 per cent, and Hong Kong’s Hang Seng index was up nearly 3 per cent.

Korea’s Kospi grew 1.1 per cent, Japan’s Nikkei was up 0.8 per cent while India’s Nifty 50 index of most valuable companies gained more than 3 per cent, as per Sky News.

CNBC reports that US stocks look set to rise on the open, based on after-hours trading. Wall Street’s tech-heavy Nasdaq is expected to rise by 3.3 per cent, and the S&P 500 index of companies relied on to be stable and profitable by 2.5 per cent.

Mr Bessent also said, “As long as there is good faith effort, engagement and constructive dialogue, then we will keep moving forward,” in response to questions from journalists.

The market will await further developments and possible ease to recent headwinds.

Continue Reading

World

American Robert Prevost Emerges as New Pope 

Published

on

Robert Prevost

By Adedapo Adesanya

The new pope of the Catholic Church has been revealed as Robert Prevost of the United States, the first American pontiff in history.

Following his emergence, he will be known as Pope Leo XIV.

Voting commenced on Wednesday, and after three rounds of black smoke, white smoke billowed above the Sistine Chapel on Thursday evening.

This is the signal that cardinals had selected a new pontiff on the second day of the conclave.

Prevost, age 69, from Chicago, Illinois, is a leader with global experience. He spent much of his career as a missionary in South America and served as a Bishop in Peru. He most recently led a powerful Vatican office for bishop appointments. He is expected to build on Pope Francis’ reforms.

There were 133 voting cardinals, who had all been sequestered inside the Vatican during the conclave. Any one of them needed two-thirds of the vote to become the next pope.

“Peace be with you all,” said Leo XIV in his first remarks as pope.

“This is the first greetings of the resurrected Christ, the good shepherd who has given up his life for God,” he said, explaining the choice of his greeting. “And I should also like this greeting of peace to enter our hearts and our families.”

Leo XIV looked visibly emotional as he waved to the adoring crowd in the square below the balcony.

A leader with global experience, he spent much of his career as a missionary in South America and most recently led a powerful Vatican office for bishop appointments. He is expected to build on Pope Francis’ reforms.

He worked for a decade in Trujillo, Peru, and was later appointed bishop of Chiclayo, another Peruvian city, where he served from 2014 to 2023.

Prevost also holds a Peruvian passport and has been a Peruvian citizen since 2015.

Continue Reading

World

JUST IN: Conclave Elects New Pope as White Smokes Emerges at Vatican

Published

on

white smoke the Sistine Chapel

By Dipo Olowookere

A white smoke was seen from the Sistine Chapel at the Vatican City on Thursday evening, signalling the election of a new pope for the Catholic Church.

This is coming a few days after the previous occupier of the position, Pope Francis, was laid to rest after he died on Easter Monday of 2025 at the age of 88 after an illness.

At the moment, the name of the new pope has not been announced. This would be done later by Cardinal Dominique Mamberti from the balcony of St. Peter’s Basilica.

About 133 Cardinals partook in the process of electing a new pope, the largest in history, with 103 of them doing this for the first time.

On Wednesday, the Conclave could not finalise the election of a new pope, with a black smoke emanating from the the Sistine Chapel.

Details later…

Continue Reading

Trending

https://businesspost.ng/DUIp2Az43VRhqKxaI0p7hxIKiEDGcGdois8KSOLd.html