Zanzibar Academics and Stakeholders Call for More Research into Climate Change

Zanzibar Academics and Stakeholders Call for More Research into Climate Change

Zanzibar — RESEARCHERS and other development stakeholders have agreed to collaborate more in addressing impacts of climate change on trade and in achieving the national, regional and the global sustainable development goals.

This was agreed at the end of ’26th REPOA Annual Research’ workshop in Zanzibar, where participants’ agreed that the impact of climate change on development was real. They argued that workable measures are required for smooth trade and the implementation of climate smart agriculture agenda.

The workshop was conducted under the theme ‘Adapting trade to climate change for competitive green growth.

Speaking on behalf of Minister for Investment, Industry and Trade in Union government Dr Ashatu Kijaji and her counterpart, Zanzibar Minister for Trade and Industries Development Mr Omar Said Shaaban; the Deputy Permanent Secretary (Investment) in the Ministry of Investment, Industry and Trade Mr Ally Gugu called for commitment.

“Let us show the highest level of commitment on what we have planned and agreed after the two days research workshop. Climate Smart Agriculture will help us move forward particularly the young generation,” Mr Gugu said.

According to the World Bank and the United Nations Food & Agriculture Organisations (FAO), Climate-Smart Agriculture (CSA) is an approach that helps guide actions to transform agri-food systems towards green and climate resilient practices.

CSA supports reaching internationally agreed goals such as the SDGs and the Paris Agreement, and also aims to tackle three main objectives: sustainably increasing agricultural productivity and incomes; adapting and building resilience to climate change; and reducing and/or removing greenhouse gas emissions.

At the end of the workshop Dr Mmari and Dr Antony Mveyange from PASGAR (Partnership for African Social and Governance Research) signed an agreement in which the latter will also undertake research in areas that will help innovators in Africa move forward.

Prof Samuel Wangwe- policy researcher presented the summary of the recommendations from participants who mainly highlighted the increased support for researchers and innovations that will see the country move forward amid challenges caused by climate changes.

Dr Olav Lundstol- Counsellor and country Economist at the Embassy of Norway in the country spoke on behalf of development partners commended REPOA and governments for finding ways, through discussion, of minimizing impact of climate change as he promised stronger collaboration in strengthening innovation.

Several presentations such as ‘Innovation and technology as enablers of productivity and competitiveness;’ and ‘green transformation and food security’ were among several presentations made at the workshop graced by the President Hussein Mwinyi at the opening.

Source: allafrica.com

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Britam half-year net profit hits Sh2bn on higher investment income
Tanzania Foreign Investment News
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Britam half-year net profit hits Sh2bn on higher investment income

Insurer and financial services provider Britam posted a 22.5 percent jump in net earnings for the half-year ended June 2024, to Sh2 billion, buoyed by increased investment income.

The rise in half-year net profit from Sh1.64 billion posted in a similar period last year came on the back of net investment income rising 2.5 times to Sh13.27 billion from Sh5.3 billion.

“We are confident in the growth and performance trend that Britam has achieved, supported by its subsidiaries in Kenya and the region. Our business is expanding its revenue base while effectively managing costs,” Britam Chief Executive Officer Tom Gitogo said.

“Our customer-centric approach is fueling growth in our customer base and product uptake, particularly through micro-insurance, partnerships, and digital channels.”

The investment income growth was fueled by interest and dividend income rising 34 percent to Sh9.1 billion, which the insurer attributed to growth in revenue and the gains from the realignment of the group’s investment portfolio.

Britam also booked a Sh3.79 billion gain on financial assets at a fair value, compared with a Sh1.8 billion loss posted in a similar period last year.

The increased investment income helped offset the 12.7 percent decline in net insurance service result to Sh2.13 billion in the wake of claims paid out rising at a faster pace than that of premiums received.

Britam said insurance revenue, which is money from written premiums, increased to Sh17.8 billion from Sh16.6 billion, primarily driven by growth in the Kenya insurance business and regional general insurance businesses, which contributed 30 percent of the revenue.

The group has a presence in seven countries in Africa namely Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique, and Malawi.

Britam’s insurance service expense hit Sh13.6 billion from Sh11.3 billion, while net insurance finance expenses rose 2.6 times to Sh12.3 billion during the same period.

“Net insurance finance expenses increased mainly due to growth in interest cost for the deposit administration business driven by better investment performance. This has also been impacted by a decline in the yield curve, which has led to an increase in the insurance contract liabilities. The increase has been offset by a matching increase in fair value gain on assets,” said Britam.

Britam’s growth in profit is in line with that of other Nairobi Securities Exchange-listed insurers, which have seen a rise in profits.

Jubilee Holdings net profit in the six months increased by 22.7 percent to Sh2.5 billion on increased income from insurance, helping the insurer maintain Sh2 per share interim dividend.

CIC Insurance Group posted a 0.64 percent rise in net profit to Sh709.99 million in the same period as net earnings of Liberty Kenya nearly tripled to Sh632 million from Sh213 million, while Sanlam Kenya emerged from a loss to post a Sh282.2 million net profit.

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