News & Events

Commonwealth Finance Ministers gathered recently to address mounting global economic challenges, including trade tensions, inflation, debt issues, and geopolitical divisions.

The annual Commonwealth Finance Ministers Meeting (CFMM), chaired by Malta’s Finance Minister Clyde Caruana, took place alongside the IMF and World Bank Group meetings. The forum served as a platform for member countries to share experiences and develop common strategies for economic resilience.

Commonwealth Secretary-General Shirley Botchwey emphasised the unprecedented challenges facing the global economy, noting particular concerns for small states and least developed countries. She highlighted member countries’ innovative approaches, including blue bonds for ocean conservation and the Commonwealth Meridian debt management system, now operational in 41 nations.

The meeting focused on building a more inclusive global financial architecture that considers both income levels and vulnerability to economic shocks. Ministers discussed ways to enable sustainable investment in development and climate resilience while avoiding unsustainable debt cycles.

The CFMM continues to serve as a vital forum where developed and developing Commonwealth nations can collaborate on shared economic priorities and strengthen their collective voice in international financial discussions.

Read the original article here: https://thecommonwealth.org/news/commonwealth-ministers-commit-unlocking-finance-amid-economic-uncertainty

Uganda took an exciting step to enhance tourism ties with Mauritius by launching its first-ever tourism roadshow in Port Louis. The event, titled “From Paradise to The Pearl,” aims to attract affluent Mauritian tourists by showcasing Uganda’s unique travel experiences, including its rich natural biodiversity and world-renowned gorilla trekking.

Organised by the Uganda High Commission in Dar es Salaam as part of Uganda’s Economic and Commercial Diplomacy program, the two-day roadshow was held at the Hennessy Park Hotel. It sought to position Uganda as a premier leisure destination beyond Mauritius’s traditional luxury beach market by promoting Uganda’s safaris, cultural tourism, and adventure activities.

The roadshow featured immersive virtual reality experiences of iconic attractions such as Murchison Falls and Bwindi Impenetrable National Park, allowing attendees to virtually explore Uganda’s landscapes and wildlife. Guests also enjoyed Ugandan coffee and local delicacies like the famous “rolex,” enhancing cultural engagement.

Read the original article here: https://www.travelandtourworld.com/news/article/uganda-launches-inaugural-tourism-roadshow-in-mauritius-to-promote-gorilla-trekking-and-adventure-tourism/

The African Development Bank Group has approved a $22.8 million grant through its African Development Fund to strengthen Mozambique’s rice value chain and boost climate resilience. The Rice Value Chain and Climate Resilience Project (RIVACREP) will benefit 30,000 smallholder farmers across four provinces, focusing on empowering women and youth.

Mozambique produces only 300,000 tons of rice annually—just half of the domestic demand—resulting in heavy reliance on imports, which affects foreign reserves and perpetuates rural poverty. The AfDB-backed initiative seeks to increase rice self-sufficiency from 50% to 75% by 2030 using climate-smart technologies, public-private partnerships, and targeted interventions.

Key project measures include upgrading irrigation systems for 1,000 hectares, building five milling factories, introducing drought- and flood-resistant rice seeds, improving storage facilities, and enhancing soil and water management. About 70% of beneficiaries will be women and 30% youth.

Read the original article here: https://www.devdiscourse.com/article/business/3651069-mega-merger-global-giants-eye-aligned-data-centers-in-40-billion-deal