World Bank Plans Securitization, Debt Swaps to Boost Development
It's designed the initiative to help accelerate the pace of development in some of the world's poorest nations and create some of the jobs that hundreds of millions of young people will need in the next decade, he said in an interview in Mozambique.
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Pizza Hut to open branch in Bahrain as part of Opportunity4All initiative
Pizza Hut and Americana Restaurants have inaugurated Bahrain's first restaurant staffed entirely by team members with hearing and speech impairments. This initiative is part of the country's Opportunity4All programme, which seeks to foster empowering workplaces for those described as "People of Determination" - a term used in Bahrain to refer to individuals with disabilities. The country is committed to ensuring their inclusion and equal opportunities through initiatives and programmes. Pizza Hut MEA [Middle East and Africa] people and culture director Ayanda Moropane stated: 'Pizza Hut is a people-first company that strives to make a positive impact in the communities we serve, and we are proud to support a program that enables employability for People of Determination.' The employees at the new establishment have received extensive training in food preparation, customer service and hospitality. They are supported by managers who possess sign language skills and utilise alternative communication tools to ensure smooth operations and effective day-to-day interactions with customers. Americana Restaurants has introduced the Sign & Smile card, an interactive tool that includes key sign language phrases. This development aligns with the Kingdom of Bahrain's Vision 2030 and National Disability Strategy, which focus on promoting economic inclusion, equal opportunity, and the active participation of People of Determination in society. Sheldon Williams, general manager of Pizza Hut at Americana Restaurants, stated: 'This is more than a store opening - it's a bold step toward transforming how our industry thinks about creating opportunities for all. 'We're not just offering jobs; we're building careers and communities around the joy of food where everyone has a place.' "Pizza Hut to open branch in Bahrain as part of Opportunity4All initiative" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
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Lesotho's textile factories face closures despite US tariff cut
MASERU, Lesotho. (AP) — The southern African nation of Lesotho has had its U.S. export tariff reduced from a threatened 50% to 15% but its crucial textile industry still faces massive factory closures, officials said on Friday. Despite a reduction announced by U.S. President Donald Trump, the country's textile sector says it remains at a competitive disadvantage and faces ongoing factory closures and job losses. In April, the Trump administration announced a 50% tariff on imports from Lesotho, the highest among all countries. The tariffs were paused across the board but the anticipated increase wreaked havoc across the country's textile industry, which is its biggest private sector employer with over 30,000 workers. About 12,000 of these workers work for garment factories exporting to the U.S. market, supplying American retailers like Levi's and Wrangler. The Associated Press reported this week that clothing manufacturer Tzicc has seen business dry up ahead of the expected tariff increase, sending home most of its 1,300 workers who have made and exported sportswear to American stores, including JCPenney, Walmart and Costco. David Chen, chairperson of the Lesotho Textile Exporters, has warned that the U.S. government's move to reduce the tariffs offer little relief for the struggling industry as their competitors have lesser tariffs. 'Other countries which we are competing against are already being charged 10 percent, which makes it difficult for us to compete on an equal footing," said Chen, singling out the east African country of Kenya as its strongest competitor with a more favorable 10% tariff. 'As a result, many factories will have to shut down,' said Chen. 'They had already been forced to lay off workers when the tariffs were first announced in April.' According to the Office of the U.S. Trade Representative, in 2024, U.S.-Lesotho bilateral trade stood at $240.1 million. Apart from clothing, Lesotho's exports also include diamonds and other goods. Classified as a lower-middle income country by the World Bank, nearly half of Lesotho's 2.3 million population live below the poverty line, while a quarter are unemployed. Lesotho's Minister of Trade, Industry and Business Development, Mokhethi Shelile, said that while several meetings with U.S. trade representatives led to a reduced tariff, more needed to be done to lower it further. 'We remain committed to pushing for a further reduction to the minimum tariff level of 10 percent, which is essential for our textile sector to compete effectively in the US market," he said. 'I have already communicated with the U.S. Embassy regarding continued negotiations.' Lesotho's neighbor and trading partner, South Africa, is also reeling after Trump announced a reciprocal 30% tariff for the country which is expected to significantly impact its agriculture and manufacturing sectors, among others. ____ AP's Africa coverage at:
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Winning Consortium Vows Responsible Mining at Guinea's Simandou
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