logo
Climate fund targets wildlife bonds for every country in Africa

Climate fund targets wildlife bonds for every country in Africa

The Herald18-07-2025
He said the move would require an investment of $150m (R2.6bn) from the GEF, which would be leveraged 10 times to provide a total of $1.5bn (R26.7bn) for conservation efforts through other borrowing.
Money borrowed using wildlife bonds does not typically go onto the books of beneficiary governments, meaning they can offer much-needed financing to poorer countries, climate finance experts said.
They usually target emblematic species to appeal to specialist investors and wealthy philanthropists, and their payouts are directly linked to conservation, meaning the better the result the less governments are usually required to pay out.
The GEF hopes they can be expanded to include entire ecosystems such as wetlands, Boltz said.
The push by the fund, formed after the landmark Rio Earth Summit of 1992, comes as aid and development funding cuts by the US and other major economies threatens some conservation projects.
"Many countries are suggesting that in this tough official development assistance environment, maintaining the last level of replenishment may be difficult," Boltz said, "and we might need to try to do more with less".
The GEF has in total invested $7.7bn (R137bn) in Africa in projects, including an $85m (R1.5bn) effort to fight desertification in the Sahel region.
It is urging donors to replenish its cash for its next four-year cycle of programmes, starting next year.
Its last fundraising for its cycle raised $5.3bn (R94bn), an increase of more than 30% from its last operating period amid a surge of support for international efforts to meet nature and climate targets.
That funding round received money from 29 countries, with the US among the biggest donors, contributing $700m (R12.4bn).
Reuters
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Easy tips to help you stay ahead of scammers this tax season
Easy tips to help you stay ahead of scammers this tax season

The Herald

time6 hours ago

  • The Herald

Easy tips to help you stay ahead of scammers this tax season

Whether you are receiving a return or paying more than you would like, tax season comes with ups and downs and has become an easy way for scammers to strike. The advent of digital banking has made it increasingly difficult to avoid scammers who have made the platforms fertile ground for fraud. According to the South African Revenue Service (SARS), one of the latest scams involves an SMS claiming the service is conducting an audit on your tax refund which leads to a malicious website designed to steal your information. The lasting impact of scams underscores the urgent need for robust preventative measures. Meta is actively working towards reducing scams across its platforms by investing in technology and testing new tools to keep people's accounts secure, verify identities and prevent scammers from impersonating well-known figures or misusing their images. Here are t elltale signs the social media platform has noted: Suspicious SMSes : Be wary of texts containing links or HTML attachments asking you to 'update' your password or bank details. Always verify the sender : official SARS messages will never come from Gmail or other free email domains. Confirm the integrity of social profiles before trusting any links or requests. Overpayment and refund request: A tax scammer may file a fake overpayment on your return or submit forged refund details, then request a partial refund. After sending the refund, they cancel the original (fraudulent) refund, leaving you out of the refund. Unsolicited robocalls : Scammers may use automated calls pretending to be from SARS or your bank, pressuring you to share sensitive information. Deceptive social media ads: Be alert to fraudulent advertisements on social platforms that claim to offer SARS refunds or services. These ads often link to fake websites designed to harvest your personal information. Only send money to people you trust: Transfer money only to people you know and trust when using instant payment apps and check whether the app you are using offers purchase protection. If it does not, you might not be able to get your money back once you have sent it. No organisation can tackle cyberfraud alone. That's why Meta partners closely work with governments, law enforcement and financial and technology institutions to tackle transnational scam networks. Through shared threat intelligence, coordinated policy engagement under the Cybercrimes Act and community-driven education campaigns, the multi-stakeholder efforts have supported hundreds of investigations by specialised police units. By combining the strengths, legal development, joint operations, and public outreach, Meta and its partners are building stronger digital resilience and keeping citizens safer online. Meta's global efforts to protect users from scams are ongoing. It said it continues to invest in cutting-edge technologies such as advanced fraud detection and advertiser verification, and share regular public updates so communities stay informed and secure.

Chinese car sales continue to rise in SA and their new-energy vehicles could be a game changer
Chinese car sales continue to rise in SA and their new-energy vehicles could be a game changer

Mail & Guardian

time9 hours ago

  • Mail & Guardian

Chinese car sales continue to rise in SA and their new-energy vehicles could be a game changer

Chery sold 2 101 new vehicles in June. Chinese car sales continue to rise in South Africa, with more brands looking to enter the market. Chery and GWM were the top selling Chinese manufacturers in June, with the former selling 2 101 new vehicles and the latter selling 2 288, according to data from the National Association of Automobile Manufacturers of South Africa. The two brands ranked sixth and seventh overall in new vehicle sales for the month, only falling behind legacy brands Toyota, Suzuki, Volkswagen Ford and Hyundai. Chery relaunched in South Africa in 2021 and GWM brought its SUV brand, Haval, in the same year. The success of these two paved the way for the likes of Omoda, Jaecoo and Jetour to also enter the country. Omoda and Jaecoo passed the 1 000 vehicle mark in June while Jetour sold 683 new vehicles and Baic sold 232. Many industry watchers believe the price point is the main reason Chinese vehicles are doing so well in South Africa. But Shannon Gahagan, the national brand and marketing manager at Omoda and Jaecoo South Africa, has attributed the success of these brands rather to what is being offered for the price. 'Price is a contributing factor; however, other brands offer vehicles in this price segment that haven't seen the same kind of growth,' Gahagan said. 'Chinese vehicles lie not only in pricing but also in what is offered for that price, such as technology, vehicle styling, and the brand.' Gahagan believes the rise of Chinese vehicles in South Africa has reshaped consumer perception in the country. 'Chinese OEMs [original equipment manufacturers] have shown that tech and innovation don't have to come with a steep price tag. South Africans are embracing the variety of choice and are open to receiving more 'bang for their buck,' which also comes with style and innovation,' she said. (Graphic: John McCann/M&G) Entering the new-energy market By the end of 2024, South Africa's new-energy vehicle (NEV) market was growing at a fast pace, but still not enough to have a meaningful effect on new car sales. Although the segment experienced a 100.6% year-on-year increase in 2024, it made up only 3% of the total new-vehicle market. Range anxiety — the shortage of charging infrastructure — and the price point of fully electric vehicles (EVs) have contributed to the slow growth of NEVs in South Africa. The alternative is plug-in hybrid electric vehicles (PHEV), which eliminates range anxiety because the vehicle works with both an electric motor and an engine. By the end of 2024, there were no plug-in hybrid vehicles selling for under a million rand but, since April, Chinese manufacturers have released a variety of PHEV into the South African market. BYD released the Sealion 6 in April and other brands followed suit. Omoda and Jaecoo released PHEV variants of the C9 and J7 in June, Chery released the PHEV variant of the Tiggo 7 Pro and Haval released the H6 GT in a PHEV as well. All of these models come in at under a million rand. Gahagan says it is important to allow people with different budgets to enjoy the advancements in the motoring industry. 'As the technology advances and becomes more widely accepted internationally, the pricing is adapting to suit a wider variety of customers. We're also striving to make these technologies more accessible and suitable for various budgets, allowing more customers to experience these advancements,' she told the Mail & Guardian . Chery recently released the Tiggo 7 CSH, a PHEV variant of the famous Tiggo 7 Pro. Trust in Chinese vehicles When Chinese brands entered the market in 2021, a major concern was their reliability. But strong warranties and service plans have shown they veconfidence in their products. Chery released a game changing 10-year or one million kilometre warranty on their engines for the first owner of the vehicle, while offering the usual four year/60 000km service plan and five-year/150 000km vehicle warranty. Omoda and Jaecoo have followed suit with the engine warranty on their vehicles. These manufacturers have now also placed the same amount of confidence in their PHEV vehicles by offering a 10-year/unlimited kilometre power battery pack warranty for the first owner of the vehicle. These strong warranties have helped contribute towards the success of Chinese vehicles in South Africa. In terms of parts, Omoda and Jaecoo have a 98.4% fill at their warehouse. 'We've focused on getting the fundamentals right. Reliable products, strong after-sales support, and local parts availability through our warehouse, ' Gahagan said. 'Our growing sales show that more South Africans are placing their trust in the brand, and as more of our vehicles enter the used market, resale values will start to reflect that confidence.' More models and brands to come to South Africa Chinese manufacturers have been busy in the South African market in 2025. BYD released three new vehicles in April, GWM have expanded their Tank range and P-Series range and also released the new H6 and H6 GT PHEV, Chery just recently updated its Tiggo 7 Pro range with a PHEV variant and its Tiggo Cross range with a hybrid variant and Omoda and Jaecoo also just expanded their range of vehicles. Omoda and Jaecoo are set to release the C7 and J5 later this year, while Chery is to bring its flagship Tiggo 9 PHEV. Chery will also bring a bakkie named Himla to South Africa in 2026. The iCAUR is coming to SA in 2026 Lepas is launching in 2026 A Chery Himla bakkie was revealed in 2025 There are currently 14 Chinese brands in South Africa, but it seems to just be the beginning. Changan, Deepal, Lepas and iCAURr (not an Apple Car) are all also confirmed to release in South Africa in late 2025 and 2026 respectively. Gahagan confirmed that iCAUR will be a NEV brand that will offer a more accessible entry point into the premium electric space.

Department trains ECD practitioners to 'rescue' foundation-phase learning
Department trains ECD practitioners to 'rescue' foundation-phase learning

The Herald

time9 hours ago

  • The Herald

Department trains ECD practitioners to 'rescue' foundation-phase learning

'The minister and the department remain committed to ensuring every child has access to a qualified practitioner and a curriculum-rich early learning environment. Improving the quality and reach of ECD is central to ensuring children who enter Grade 1 are cognitively, emotionally and physically ready to learn, and forms the foundation of a more equitable and effective basic education system.' This year finance minister Enoch Godongwana announced an additional R10bn investment in ECD over the next three years. The funding will raise the daily subsidy from R17 to R24 per child and is expected to increase access for about 700,000 more children up to the age of four. Speaking at the Bana Pele (Children First) summit in March, President Cyril Ramaphosa reinforced government's commitment to early learning. 'As South Africans we have a clear goal for all our children, access to quality learning opportunities for an additional 1.3-million children by 2030. I think it's possible,' he said. Investment in ECD provides substantial returns, he added.. 'Studies have shown every rand spent on ECD can save up to R7 in future costs associated with remedial education, social services and criminal justice. 'ECD is critical for developing foundational skills such as language, literacy and numeracy,' he said, citing a study that estimated an investment of 2.1% of GDP in universal childcare could enable 10.5-million women to join the workforce over three years. Ramaphosa also addressed the literacy crisis, pointing to data that shows 80% of grade 4 pupils cannot read for meaning. TimesLIVE

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store