#EarlySignals - Dec. 2021
13 December 2021
Our monthly selection of news, quotes and figures that slipped through the radar but could have significant implications
Towards a boom of green bond finance in AfricaSince the first green bond issue was issued in Africa in 2012, the number and value of green bonds has increased almost every year, according to a recent report released by the European Investment Bank. Between 2014 and 2020, 20 green bonds worth about USD 2 billion were issued in six African countries. Over this period, Africa represented only 0.2% of the global green bond market, compared to 1.4% for Latin America and 36.4% for Europe. What is at stake for African countries? Green bonds can mobilise significant capital to finance climate adaptation and sustainable development. Although 97% of total green bond emissions are still shared between South Africa, Morocco and Nigeria, Egypt and Benin have recently entered the race with bonds of 800 and 500 million, respectively. Will green bonds become a new economic lever in Africa? The outlook is promising.
“Everybody seeking in-person government services should be fully vaccinated and proof of vaccination availed by December 21st, 2021.” Kenyan Health Minister Mutahi KagweKenya’s controversial decision to deny the unvaccinated access to public services is the latest of a new wave of measures announced by the government late November. Bars, restaurants, public transport and government offices will only be accessible to those with a vaccination certificate. With less than 6% of the population fully vaccinated, is Kenya’s move realistic? After experiencing vaccine shortages, issues of mismanagement and vaccine hesitancy, vaccination rates are starting to decline in certain regions of the country. Elsewhere in Africa, Zimbabwe and Uganda have already made vaccines mandatory for government and health workers, respectively. Will this have a domino effect across the continent? South African President Cyril Ramaphosa, who stressed a few months ago that "no one will be forced to take this vaccine", has just set up a task force to consider introducing mandatory vaccination.