get latest news from West Africa

Efforts to address the climate crisis and boost growth in the Global South will be enhanced under a partnership approach between the government and the United Kingdom’s financial sector, the UK’s Minister for Development, Anneliese Dodds, announced yesterday.
The minister announced that up to £100 million for the UK’s flagship public markets programme MOBILIST, which will provide businesses focused on delivering the Sustainable Development Goals (SDGs) with the anchor funding and expert advice they need to list on stock exchanges around the world, allowing them to attract significant sums of additional private investment.
She also celebrated the issuance of the first Climate Investment Fund (CIF) Capital Markets Mechanism (CCMM) bond last month, which raised $500 million (approximately £400 million) for energy and clean technology projects in low- and middle-income countries.
The CCMM, launched by the UK Prime Minister, Keir Starmer, at COP29, is a new financial mechanism to leverage future loan repayments by issuing bonds on capital markets.
Speaking at the London Stock Exchange, Dodds praised the “expertise, experience and dynamism” of the UK’s financial services sector, and pledged to put this expertise “at the heart of how we meet the opportunities and challenges of our time”, including accelerating delivery of the UN’s SDGs.
These seek to address global challenges, including poverty, inequality, and climate change, to achieve a better and more sustainable future for all, by 2030.
Dodds set out how investment in the Global South is an opportunity for UK financial services “to marry investment in the economies and technologies of the future, with the experience and expertise of the City of London”, adding that the government will hold up its end of the bargain by working internationally to reform the global financial system to provide greater opportunity and stability.
Dodds said: “With businesses and the government working hand in hand to drive investment in the Global South, we can unlock growth, jobs, trade, investment, and pride in our economy overseas and here at home.
“This government is enabling the financial services sector to flourish and use its expertise and depth of capital to invest in the markets and technologies of the future.
“Through partnerships like this, we will deliver on the Plan for Change, drive domestic growth, and create a world free from poverty on a liveable planet.”
The MOBILIST funding is expected to generate between £400 million and £600 million of new investments in businesses across emerging markets in Asia, Africa and Latin America. These investments will support economic growth, sustainable development, and climate action in local markets.