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The SADC Green Bonds Programme, running from April 2021 to March 2024, seeks to accelerate the use of green bonds for climate finance in SADC member countries. Key achievements include the launch of the SADC Green and Sustainable Bond guidelines in April 2022, the revision of the Dar es Salaam Stock Exchange rules in Tanzania, and the issuance of a MUR 500 million green bond by Cim Financial Services Limited in Mauritius.

The report examines how the rise of the Indo-Pacific strategic framework and intensifying competition between traditional powers (US, UK, France) and emerging powers (China, India) affect African maritime security and development. It highlights the critical importance of Indian Ocean trade routes, the proliferation of foreign military bases in the region, and the risk of African states being drawn into proxy wars. The author emphasizes that while great power competition is a long-term risk, immediate threats include piracy, illegal fishing, and climate change. The paper recommends that African states and the African Union develop a unified conception of their maritime interests and leverage multilateral organizations to protect their sovereignty and blue economy goals.

The Centre for Environmental Rights, on behalf of Fair Finance Southern Africa (FFSA), has requested information from Investec Group concerning a US$ 140 million loan provided by a syndicate of four banks to Karpowership. The letter highlights that Karpowership SA's proposed floating gas-to-power projects in Coega, Richards Bay, and Saldanha face significant opposition due to environmental impacts and the risk of prolonging fossil fuel reliance. FFSA argues that the projects would emit substantial methane, potentially totaling 80 to 142 million tonnes CO2e over 20 years, and may become stranded assets. The request asks Investec to clarify if the loan finances South African operations and how this aligns with its membership in the Net Zero Banking Alliance and its own net-zero carbon emission claims.

The Centre for Environmental Rights, on behalf of Fair Finance Southern Africa (FFSA), is questioning Türkiye İş Bankası A.Ş. (Isbank) about a US$ 140 million loan provided to Karpowership in March 2020. The letter argues that the Karpowership SA projects—consisting of three vessels with a total capacity of 1,220 MW in Coega, Richards Bay, and Saldanha—pose significant environmental and social risks. Specifically, it highlights the refusal of environmental authorisations by the Department of Forestry, Fisheries and the Environment (DFFE) due to "procedural irregularities" and the potential for the projects to emit "80 to 142 million tonnes CO2e of greenhouse gas" over 20 years. The authors contend that these projects prolong reliance on fossil fuels and may become "stranded assets" as renewable energy becomes cheaper. The letter asks Isbank to clarify if the loan was intended to finance these South African operations and how this aligns with its membership in the Net Zero Banking Alliance.

The Centre for Environmental Rights, on behalf of Fair Finance Southern Africa (FFSA), is questioning the Mauritius Commercial Bank (MCB) about a US$ 140 million loan provided to Karpowership. The letter highlights environmental and legal concerns regarding Karpowership SA's projects in Coega, Richards Bay, and Saldanha, including the refusal of environmental authorisations by the DFFE and the potential for high methane emissions. FFSA seeks to clarify if MCB's financing ultimately supports these South African operations and how the bank assesses the associated material and climate risks.

The document is a formal request for information sent to Standard Chartered Bank by the Centre for Environmental Rights on behalf of Fair Finance Southern Africa, seeking clarification on the bank's role in financing Karpowership SA's floating gas-to-power projects in South Africa.

The report finds a massive gap between Africa's annual climate finance needs (USD 277 billion) and actual flows (USD 29.5 billion). While international public finance dominates, private sector contribution is low at 14%. Finance is heavily concentrated in a few countries and sectors, with energy receiving the most investment, while agriculture, forestry, and other land use (AFOLU) remains underfunded. The report recommends scaling up concessional finance, improving data tracking, and catalyzing private investment to meet 2030 goals.

FSD Africa's Capital Markets team works to address financing gaps in Africa by developing enabling policies, market infrastructure, and innovative financial products. The report highlights the mobilization of approximately GBP 320 million through bond issuances, including pioneering green and gender bonds in countries like Nigeria, Kenya, and Morocco. It details the Africa Regulatory Support Programme (ARSP) and the African Local Currency Bond Fund (ALCB Fund) as key mechanisms for reducing currency risk and increasing private sector investment. Moving forward, FSD Africa is concentrating its efforts on five priority countries—Ethiopia, Ghana, Kenya, Morocco, and Nigeria—with a strong emphasis on green capital markets and natural capital finance.

The report highlights the urgent need for food systems transformation in southern Africa due to climate change, population growth, and high rates of malnutrition. It reviews key 2021 global and regional events—including the UN Food Systems Summit, the AGRF Summit, and COP26—to identify national entry points for action across southern African states, emphasizing the water-energy-food (WEF) nexus and the role of youth and ecosystem restoration.

The document analyzes the varied diplomatic positions of African nations regarding the Ukraine war, noting a split between those condemning Russia and those maintaining neutrality to preserve bilateral ties. It argues that African states should move from being passive bystanders to proactive actors by mediating peace, filling resource gaps created by sanctions, diversifying commodity imports, and strengthening pan-African unity.

The document outlines a 24-month readiness project for Mauritius, implemented by the Organisation of African, Caribbean and Pacific States (OACPS). It aims to bridge the 'usability gap' where national experts struggle to translate scientific evidence into actionable climate interventions. The project focuses on creating a functional climate service network, developing data collection tools, and training stakeholders to integrate climate science into sectoral policies and GCF funding applications. Key target sectors include agriculture, water resources, and coastal zones. The proposal also emphasizes gender mainstreaming, aiming for 50% female representation in working groups and training, and includes a regional exchange visit to the Secretariat of the Pacific Regional Environment Programme (SPREP) in Samoa.

Africa was instrumental in establishing the deep seabed mining regime under the UN Convention on the Law of the Sea but became apathetic following the 1994 Implementation Agreement. Currently, Africa is the only regional group that has not sponsored an entity to explore the international seabed area (the Area). While the African Union and the UN Economic Commission for Africa have integrated DSM into blue economy strategies and roadmaps, implementation has lagged. The report argues that investing in DSM is strategically appropriate for Africa as the global transition to a low-carbon economy may impact terrestrial mining. It recommends that African states consider sponsoring exploration contracts and that the AU adopt the Lomé Annexes and revise its Integrated Maritime Strategy to provide a clear legal and policy framework for DSM.

The document examines the role of Africa in the global AI supply chain and the risks posed by the dominance of foreign AI firms, particularly from China and the Global North. It highlights specific harms including predatory financial offers via digital IDs in South Africa, human rights violations through facial recognition in Uganda and South Africa, and exploitative 'click work' in Kenyan refugee camps. The brief reviews emerging national AI strategies in Mauritius, Egypt, and Rwanda, and the SMARTAfrica 'Blueprint on Artificial Intelligence for Africa'. It argues that while EU frameworks like the AI Act and GDPR provide some guidance on human rights, they often fail to address African socio-economic realities, such as the gender digital divide and infrastructure deficits. The author recommends that African governments focus on building sustainable local AI ecosystems, enhancing regional data cooperation via the AfCFTA, and ensuring the economic participation of local communities.

The document examines the impact of AI in Africa, highlighting risks such as predatory data use in South Africa, surveillance in Uganda, and the exploitation of 'click work' in Kenyan refugee camps. It reviews national AI strategies in Egypt, Mauritius, and Rwanda, and the SMARTAfrica Blueprint, while cautioning against the uncritical transfer of EU regulatory models like the GDPR. The author recommends that African governments focus on building sustainable local AI ecosystems, enhancing digital skills for women, and establishing regional cooperation to regulate multinational tech monopolies.

The Mauritius–China Free Trade Agreement (MCFTA), effective January 1, 2021, is analyzed as a likely geopolitical tool rather than an economic driver, given the extreme trade imbalance between the two nations. The authors argue that Mauritius lacks the capacity to penetrate the Chinese market, and the agreement may exacerbate its trade deficit. While the MCFTA is China's first FTA with an African nation, the paper suggests it serves as a strategic base for China to influence the broader African market and the AfCFTA, while potentially acting as a 'laboratory' for future continental engagements.

The paper examines the rise of Eurobond issuance in Africa as governments seek alternatives to aid, noting that sovereign credit ratings from Moody’s, Fitch, and S&P are essential for market access. It finds that most African countries' ratings have deteriorated since their first assessment, leading to higher borrowing costs and prioritizing debt repayment over human rights and health during the COVID-19 pandemic. The authors criticize the 'big three' for their oligopolistic nature, unreliable methodologies, and limited physical presence in Africa, recommending increased regulation, accountability, and transparency in how Eurobond funds are utilized.

The document examines the rise of Eurobonds as a development financing tool in Africa and the corresponding increase in sovereign credit ratings assigned by Moody's, Fitch, and S&P. It finds that most African countries' ratings have deteriorated since their first assessment, increasing borrowing costs and sometimes forcing governments to prioritize debt repayment over public health and human rights during crises like COVID-19. The authors criticize the 'big three' for their oligopolistic nature, lack of local presence, and use of unsolicited ratings, recommending stricter regulation, better local knowledge, and transparent project-linked borrowing.

The report examines pension fund investment patterns across eight Southern African countries, highlighting a general preference for government bonds and listed equities over private equity and private debt. It identifies regulatory constraints, a lack of professional expertise, and reputational risks as primary barriers to the growth of private markets. The document recommends increasing asset allocation ceilings, disaggregating private equity from broader 'alternative' categories, and developing regional investment frameworks to achieve economies of scale.

The report analyzes how insurance regulators in 31 sub-Saharan African countries responded to COVID-19, proposing a four-phase framework (Identify, Implement, Monitor, Adapt) to handle systemic risks. Key findings highlight the importance of risk-based supervision (RBS), proactive digital communication, and the need for real-time data via Suptech. It also identifies emerging future risks, including climate change, cyber-security, and political unrest.

The document identifies a substantial increase in protests in the Global South after the Russian invasion of Ukraine, driven by food and energy insecurity. Analyzing ACLED data, the authors found food protests in 32 countries and fuel protests in 37 countries. While many protests are isolated, in some nations—such as Paraguay, Guatemala, and Peru—these grievances constituted a significant portion of all unrest events. The report argues that such protests serve as warnings of household hardship and can lead to severe political consequences, citing the flight of Sri Lanka's president as an example.