Incubators, accelerators and technological hubs have proliferated in Africa over the past 5 years to support early-stage African entrepreneurs. But many of these organizations remain relatively new and isolated, with varying levels of professionalism and limited means and tools at their disposal.
“Without the necessary efficiency, effectiveness and scale, incubators’ efforts will not be reflected in their beneficiary entrepreneurs’ ability to overcome the binding constraints in the ecosystem and scale up; and their impact in terms of business growth, disruptive innovation and job creation will remain limited,” said Christian Jekinnou, coordinator of Afric’Innov at the launch of the recent Conference on Innovation: International and Global South (Rencontres de l’Innovation International & Sud). “This is exactly why Afric’Innov was set up, aiming to professionalize these institutions supporting entrepreneurship, and why events such as the Conference on Innovation are crucial, enabling us to deploy our tools,” he added.
As part of its strategy to support growth entrepreneurship, the World Bank joined Afric’Innov’s steering committee as an observer member. This role will allow the Bank to analyze pilot schemes that support Africa’s incubators through training and interest-free loans, as well as by certifying mature incubators and conducting feasibility assessments to scale up projects.
The 2014-16 collapse in oil prices was driven by a growing supply glut, but failed to deliver the boost to global growth that many had expected. In the event, the benefits of substantially lower oil prices were muted by the low responsiveness of economic activity in key oil-importing emerging markets, the effects on U.S. activity of a sharp contraction in energy investment and an abrupt slowdown in key oil exporters.
Biggest drop in oil prices in modern history
Between mid-2014 and early 2016, the global economy faced one of the largest oil price declines in modern history. The 70 percent price drop during that period was one of the three biggest declines since World War II, and the longest lasting since the supply-driven collapse of 1986.
Real oil prices
Source: World Bank.
Notes: Real oil prices are calculated as the nominal price deflated by the international manufacturers unit value index, in which 100=2010. World Bank crude oil average. Last observation is November 2017.
Photo: Scaling Solar project in Zambia
What is a common thread between Argentina, Maldives, and Zambia? In each of these countries, the World Bank provided guarantees to support transparent auctions for renewable energy. Through these, I have seen how the Bank’s involvement helped increase private investors’ confidence, attract world-class developers, and ultimately reduce tariffs.
Drawing on 10 years of diverse experience in the power sector in both public and private organizations, my role is to help bridge the divide between public and private parties and help each side better understand the other. The World Bank is ideally positioned for this. Both sides understand the World Bank carries out a detailed due diligence and ensures the auction meets international standards. Both sides appreciate the World Bank will be an honest broker if issues arise. Because of its long term and continuous involvement in our client countries, the World Bank can help identify and solve issues early on. As such, no World Bank project-based guarantee has ever been called.
When we visited the rural commune of Molota about 115 km (70 miles) north-east of the Guinean capital of Conakry, the commune council members explained to us that they were happily surprised to see about 1,600,000 Guinean Francs had been contributed by their population in less than a week after conducting a participatory budgeting exercise. It was a small ($160) but clearly positive and tangible change given the fact that, the previous year, there had been “zero” Guinean Francs collected as local revenue in their budget.
Recent global estimates that aim to measure country progress towards UHC also highlight India’s gaps in terms of service coverage.
So how does a country achieve UHC? One possible answer might be to discuss broad health system paradigms, but quite another would be to talk about the nuts and bolts of implementing a specific program. While the choice between paradigms is made, at most, once in a decade, figuring out how to implement a program happens every day. For this, practitioner-to-practitioner learning is one of the best ways to help implementers make real progress on the road to UHC.
The world’s climate is changing, and is projected to continue to do so for the foreseeable future. The impact of climate change will be particularly felt in agriculture, as rising temperatures, changing rainfall patterns, and increased pests and diseases pose new and bigger risks to the global food system. Simply put, climate change will make food security and poverty reduction even more challenging in the future.
Fulmati Mijar, a mother of three living in Nuwakot district in Nepal, used to earn her living from daily wage labor along with her husband.
On April 25, 2015, their lives took a turn for the worse when a magnitude 7.8 earthquake struck Nepal, killing 8,790 people and affecting 8 million more—or nearly a third of the country’s population.
The catastrophe destroyed Fulmati’s house and made her family more vulnerable.
Yet, it did not dent her resolve.
When housing reconstruction started through the Earthquake Housing Reconstruction Project (EHRP), Fulmari joined her village’s Community Organization (CO), supported by the Poverty Alleviation Fund (PAF) and learned carpentry and earthquake-resistant techniques for housing reconstruction.
She initially received a NPR18,000 ($176) loan to invest in a small furniture enterprise. With the funds, her family started making windows, doors, and kitchen racks, which were in high demand. After repaying the loan, she received another loan to upgrade their furniture enterprise, where today she and her family make their living.
At the time of the 2015 earthquake, full recovery was estimated to cost $8.2 billion, with the housing recovery component amounting to $3.8 billion. The World Bank immediately pledged $500 million to support the emergency response. During the reconstruction phase, the most urgent—and largest—need was to rebuild nearly 750,000 houses.
More than two years since the earthquake, restoring lost or affected livelihoods has become more important.
How is the World Bank helping countries create more and better jobs? Do we need new strategies in the new world of work reshaped by new technologies and other global challenges? In this video interview with David Robalino, manager of the Jobs Group at the World Bank, we introduce two new partnerships for tackling the multi-pronged challenges of job creation in a comprehensive approach.
Our Top Ten blog posts by readership in 2017. This post was originally posted on September 7, 2017.
“I walk through three farm plots of my fellow farmers every day to examine the crop growth and occurrences of pest attacks or crop failure. I send photo alerts via my smart phone to Cropin, which sends an advisory within a few minutes to remedy the problem, said Pratima Devi, a climate smart village resource professional in Manichak village in the Barachatti block of Gaya district in Bihar, India.
Cropin Technology Solutions Pvt. Ltd, a private software and mobile apps company, has developed digital applications to advise farmers on ways to achieve optimal harvests, depending on weather conditions, soil and other indicators. In less than a month, Pratima Devi completes a visit to all the farm plots in her village that are registered to get agro-advisories. “Women farmers appreciate my efforts and have started trusting my advice because they see a positive difference on their farms,” she adds.
Ramchandra Prasad Verma has the status of a master trainer of climate-smart village resource professionals in the same Barachatti block. He succinctly explains how data on weather parameters, such as rainfall, temperature and humidity, provided by the Automatic Weather Station (AWS), which was installed by another private Indian company, Skymet, helps farmers make smarter decisions in the village. “When the AWS shows temperatures of 35-40 degree Centigrade, farmers will wait for cooler temperatures before transplanting paddy mat nurseries into the field. Otherwise, there is a fear of losing crops in high temperatures”, said Verma. Earlier farmers relied on traditional wisdom alone, but now digital information can help them make faster and better decisions on the times of sowing and harvesting.
When Verma was a village resource professional, he had raised the maximum number of alerts in Bihar and received many advisories from Cropin on sowing, soil health, seed treatment, and weather forecasts that benefitted farmers. Over time, he developed skills to interpret technical advisories, train farmers to apply information on their fields, and interact with Cropin and Skymet professionals, which earned him the status of a master trainer.