Latest news with #OrganisationforEconomicCo-operationandDevelopment
Daily News Egypt
a day ago
- Business
- Daily News Egypt
OECD report provides roadmap for Egypt's SME and startup sector
The Organisation for Economic Co-operation and Development (OECD) and the Egyptian government have launched a report on small and medium-sized enterprise (SME) policy, which Cairo will use to update its national strategy for the vital sector, the government said on Saturday. The report, part of a cooperation programme between Egypt and the OECD, provides an analysis of the opportunities and challenges facing SMEs and entrepreneurs. It highlights the sector's significant potential but points to a need to encourage innovation and transition businesses from the informal to the formal sector, according to a government statement. SMEs represent more than 90% of economic activity in Egypt. Minister of Planning and International Cooperation Rania Al-Mashat said the report reflects the government's efforts to transform Egypt into a competitive, innovation- and knowledge-based economy. She noted the role of a ministerial group for entrepreneurship in coordinating efforts to support startups and said a 'Startup Charter' would be launched soon. Bassel Rahmy, head of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA), stated that the agency would work to activate the report's recommendations in coordination with local and international partners. The report noted that Egypt, with a population of over 110 million, possesses a vast market and significant entrepreneurial potential. It also acknowledged that despite a boom in venture capital and investment in research, challenges remain in improving the business climate and enhancing competition. Among its key recommendations, the report called for developing a comprehensive annual database on small business performance and adopting an 'SME impact test' before approving new legislation, while also simplifying existing laws. It suggested establishing an independent mechanism to monitor SME law implementation. The report also recommended providing tax incentives for venture capital, increasing the capital of the Credit Guarantee Company (CGC), and creating a national strategy for digitising small businesses, which would include a tiered licensing system for fintech companies. Further proposals included developing a strategy for women's entrepreneurship and boosting the efficiency of business incubators through national accreditation standards. The cooperation between Egypt and the OECD falls under a Country Programme that has been extended until 2025. The programme includes 35 projects across five main axes, designed to integrate international expertise into Egypt's national development strategy, 'Egypt Vision 2030.' Egypt recently assumed the co-chairmanship of the OECD's Middle East and North Africa (MENA) Initiative on Governance and Competitiveness for the period 2026-2030, alongside Italy and Turkey.
The Citizen
3 days ago
- Business
- The Citizen
African cities need fiscal power to survive rapid urbanisation
In terms of urbanisation, what works in London or Washington cannot be transplanted to African cities like Maputo or Lusaka. Africa is urbanising rapidly. According to Africa's Urbanisation Dynamics 2025 – an Organisation for Economic Co-operation and Development report – cities will house 1.4 billion people by 2050 – twice today's number. But this growth is happening in cities that lack the financial power to shape their own futures. Most African cities struggle to raise revenue, borrow money or spend capital at scale. They depend on national governments for funding and long-term planning and are often stuck waiting for budget limited allocations. This has real consequences. Cities struggle to build the roads, housing, power, sanitation or public transport their growing populations need. Climate change makes this worse. Flooding, drought, heatwaves and other climate shocks are hitting cities harder and more often, damaging infrastructure and draining already scarce resources. Cities must now build infrastructure that is not only bigger, but also more resilient and climate-smart. Yet they lack the tools to act, even when the need is urgent. The Urban 20 (U20) brings together mayors from major G20 cities to inform the discussions of national leaders at the G20 Summit, to be held in Johannesburg in November. The recent African Mayors' Assembly in Tshwane – held under the Urban 20 banner and hosted for the first time on African soil – crystallised this challenge into a single question: how do we finance the infrastructure that 1.4 billion urban Africans will need when our cities lack the basic authority to raise and deploy capital? Some cities, such as Johannesburg and Nairobi, have working systems, but they're stretched. Others are building from scratch. Across the continent, the scale of need is vast. ALSO READ: Multi-billion Limpopo mega-project has ground to a halt According to the African Development Bank, Africa needs $130 billion (about R2.2 trillion) to $170 billion annually for infrastructure. However, international lenders typically require three things before they finance city projects: steady revenue streams, a proven ability to repay loans and established institutions. Most African cities don't meet these criteria, creating a Catch-22 situation: they need infrastructure to generate revenue, but need revenue to finance infrastructure. That's why we're pleased that leaders at U20 met to craft an African G20 strategy that addresses burning issues and is built on lived realities, not Western blueprints. At the heart of the discussions was one recurring theme: devolution of fiscal power. In simple terms, this means giving cities more control over their own money. Local governments across Africa are stuck in outdated, centralised funding systems. National governments still control the purse strings. Cities must wait for budget allocations, which limits their ability to plan, borrow or build at the pace their people need. This creates a major bottleneck. Without fiscal authority, cities can't enter financing partnerships, tap capital markets or respond to urgent infrastructure demands. A collective call emerged from the assembly, voiced in a letter signed by dozens of mayors and directed at African finance ministers: Unshackle us. Give cities real fiscal authority – the power to raise, manage and spend revenue, access capital markets and forge financing partnerships. Without this, talk of climate finance and urban resilience is just that – talk. ALSO READ: Deputy Minister warns low-income countries will be hit hardest by geopolitical tensions African cities also need new financial models grounded in reality, not copy-pasted solutions from Europe or North America. What works in London or Washington cannot simply be transplanted to Maputo or Lusaka. Our models must factor in informal development, youth unemployment, weak revenue bases and uneven infrastructure legacies. At Ntiyiso Consulting Group, we have seen what works. Cities that build, digitise revenue collection and improve service delivery can unlock local capital. Municipal bonds, blended finance and public-private partnerships are possible if cities are empowered to plan and account. African cities also need an 'Urban African Union' of sorts – a regional coordination mechanism that allows cities to learn from each other's innovations and speak with a collective voice to international partners. The financing gap is too large for individual cities to bridge alone, but collective action could unlock new opportunities. The U20 Assembly was significant because it articulated a new approach to African urban development. Cities that control their fiscal destiny can plan for long-term growth. The next phase requires specific policy changes: constitutional amendments that guarantee municipal fiscal authority. We need regional frameworks that support cross-border collaboration. And we need international partnerships that strengthen local capacity rather than bypass it. African cities are not broken versions of global West municipalities – they are different economic entities that need different tools. The U20 summit began articulating what those tools might look like. The question now is whether African governments have the political will to provide them. By 2050, the success or failure of African cities will determine the trajectory of the global economy. Getting urban financing right is a global necessity. NOW READ: Africa Food Show: Tapping into the potential of the continent's food and beverage market
France 24
3 days ago
- Business
- France 24
US Treasury signals G7 deal excluding US firms from some taxes
"After months of productive dialogue with other countries on the OECD Global Tax Deal, we will announce a joint understanding among G7 countries that defends American interests," he said in a series of social media posts. Nearly 140 countries struck a deal in 2021 to tax multinational companies, an agreement negotiated under the auspices of the Organisation for Economic Co-operation and Development (OECD). This deal has two "pillars," the second of which sets a minimum global tax rate of 15 percent. "OECD Pillar 2 taxes will not apply to US companies," he wrote, adding that officials will work to implement the agreement across the OECD-G20 Inclusive Framework in the coming months. US President Donald Trump has pushed back on the global tax agreement, with Bessent on Thursday pointing to advances on that front. "Based on this progress and understanding, I have asked the Senate and House to remove the Section 899 protective measure from consideration in the One, Big, Beautiful Bill," Bessent added, referring to a bill currently before US lawmakers that would slash social program spending for tax cuts. Section 899 has been dubbed a "revenge tax," allowing the government to impose levies on firms with foreign owners and on investors from countries deemed to impose unfair taxes on US businesses. The clause sparked concern that it would inhibit foreign companies from investing in the United States.
Canada Standard
3 days ago
- Science
- Canada Standard
Canada needs a national AI literacy strategy to help students navigate AI
With students' use of artificial intelligence (AI) tools on the rise in Canada and globally, reports of cheating and unethical behaviors are making headlines. One recent study indicates that 78 per cent of Canadian students have used generative AI to help with assignments or study tasks. In China, authorities have even shut down AI apps during nationwide exams to prevent cheating. Students seem unprepared to navigate this new world and educators are unsure how to handle it. This is a problem Canada and other countries can't afford to ignore. The support structures and policies to guide students' and educators' responsible use of AI are often insufficient in Canadian schools. In a recent study, Canada ranked 44th in AI training and literacy out of 47 countries, and 28th among 30 advanced economies. Despite growing reliance on these technologies at homes and in the classrooms, Canada lacks a unified AI literacy strategy in K-12 education. Without co-ordinated action, this gap threatens to widen existing inequalities and leave both learners and educators vulnerable. Canadian schools need a national AI literacy strategy that provides a framework for teaching students about AI tools and how to use them responsibly. AI literacy is defined as: "An individual's ability to clearly explain how AI technologies work and impact society, as well as to use them in an ethical and responsible manner and to effectively communicate and collaborate with them in any setting." Acknowledging its importance, scholars and international organizations have been developing AI literacy frameworks. UNESCO has developed AI competency frameworks for students and teachers, highlighting key capabilities they should acquire to navigate AI implications. More recently, the Organisation for Economic Co-operation and Development and the European Commission released their joint draft AI Literacy Framework for primary and secondary education. This framework defines AI literacy as the technical knowledge, durable skills and future-ready attitudes required to thrive in a world influenced by AI. The framework aims to empower learners to engage with, create with, manage and design AI, while critically evaluating its benefits, risks and ethical implications. AI literacy equips learners to understand and navigate the pervasive influence of AI in their daily lives. It fosters critical thinking skills to assess AI outputs for misinformation and bias. AI literacy also enables students to make safe and informed decisions about when and how to use AI, preventing habits that compromise academic integrity. In addition, student knowledge of AI's technical foundations demystifies AI, dispelling misconceptions that it is all-knowing, and highlights its capabilities and limitations. Furthermore, AI-literate students are better able to develop an ethical and human-centred mindset as they learn to consider AI's social and environmental impacts, including issues of transparency, accountability, privacy and the environmental cost of AI systems. AI literacy prepares students to collaborate effectively and ethically with AI tools (for example, with writing) and helps them understand how to delegate only certain tasks to AI without cognitive offloading that may be detrimental at various developmental stages. Finally, AI literacy aims to ensure inclusive access to AI learning environments for all students, regardless of background, status or ability. In Canada, some provinces and school boards are moving ahead with AI integration, while others offer very little teacher training and resources to do so. Some universities and community organizations are also taking the lead in building AI literacy by providing curricula, resources and training to teachers and students. These scattered efforts, while appreciated, lead to AI learning opportunities that are often ad-hoc or extracurricular. Without national or province-wide requirements, many students - especially in marginalized communities and under-resourced schools - may graduate high school with no exposure to AI concepts at all, worsening the digital divide. To put Canada's situation in context, it is useful to compare with other countries that are implementing or proposing national AI education initiatives. As part of its National AI Strategy, Singapore launched a partnership to strengthen students' AI literacy, building on earlier initiatives that focused on teacher training. In China, the Ministry of Education issued systematic guidelines to promote AI education in primary and secondary schools. Similarly, the United Arab Emirates introduced AI classes into its curricula starting in the primary years. More recently, the United States established an AI framework and a task force aimed at "building essential AI literacy from an early age to maintain a competitive edge in global technology development and prepare students for an AI-driven economy." Canada, in comparison to these examples, has strengths in its bottom-up innovation but lacks a guiding vision. Canada needs a co-ordinated strategy that leverages federal-provincial collaboration through a unifying framework, shared resources and a common baseline of AI knowledge that every Canadian student should acquire. A meaningful AI literacy strategy must begin in the classroom with age-appropriate content. Students can start with the technical foundations and advance to think critically about AI's limitations, ethical issues and social implications. It's important that this content is woven across subjects and presented in ways that reflect the cultural and social contexts of learners. Equally essential is supporting educators. Teachers need practical, research-informed professional development and teaching toolkits that equip them to guide students through both the opportunities and risks of AI. To make these efforts sustainable and equitable, a national strategy must also include policy directions, regulations for the tech industry, community outreach programs and intentional opportunities for collaboration between various stakeholders (researchers, policymakers, school boards, teacher education programs and so on). Whether you think AI is a good or bad thing, the fact is it's here. This is not a call to incorporate AI tools in schools. It is a call to make Canadian students aware of its abilities and implications. Our kids need to learn about this technology and how to use it responsibly.
Canada News.Net
3 days ago
- Science
- Canada News.Net
Canada needs a national AI literacy strategy to help students navigate AI
With students' use of artificial intelligence (AI) tools on the rise in Canada and globally, reports of cheating and unethical behaviors are making headlines. One recent study indicates that 78 per cent of Canadian students have used generative AI to help with assignments or study tasks. In China, authorities have even shut down AI apps during nationwide exams to prevent cheating. Students seem unprepared to navigate this new world and educators are unsure how to handle it. This is a problem Canada and other countries can't afford to ignore. The support structures and policies to guide students' and educators' responsible use of AI are often insufficient in Canadian schools. In a recent study, Canada ranked 44th in AI training and literacy out of 47 countries, and 28th among 30 advanced economies. Despite growing reliance on these technologies at homes and in the classrooms, Canada lacks a unified AI literacy strategy in K-12 education. Without co-ordinated action, this gap threatens to widen existing inequalities and leave both learners and educators vulnerable. Canadian schools need a national AI literacy strategy that provides a framework for teaching students about AI tools and how to use them responsibly. AI literacy is defined as: "An individual's ability to clearly explain how AI technologies work and impact society, as well as to use them in an ethical and responsible manner and to effectively communicate and collaborate with them in any setting." Acknowledging its importance, scholars and international organizations have been developing AI literacy frameworks. UNESCO has developed AI competency frameworks for students and teachers, highlighting key capabilities they should acquire to navigate AI implications. More recently, the Organisation for Economic Co-operation and Development and the European Commission released their joint draft AI Literacy Framework for primary and secondary education. This framework defines AI literacy as the technical knowledge, durable skills and future-ready attitudes required to thrive in a world influenced by AI. The framework aims to empower learners to engage with, create with, manage and design AI, while critically evaluating its benefits, risks and ethical implications. AI literacy equips learners to understand and navigate the pervasive influence of AI in their daily lives. It fosters critical thinking skills to assess AI outputs for misinformation and bias. AI literacy also enables students to make safe and informed decisions about when and how to use AI, preventing habits that compromise academic integrity. In addition, student knowledge of AI's technical foundations demystifies AI, dispelling misconceptions that it is all-knowing, and highlights its capabilities and limitations. Furthermore, AI-literate students are better able to develop an ethical and human-centred mindset as they learn to consider AI's social and environmental impacts, including issues of transparency, accountability, privacy and the environmental cost of AI systems. AI literacy prepares students to collaborate effectively and ethically with AI tools (for example, with writing) and helps them understand how to delegate only certain tasks to AI without cognitive offloading that may be detrimental at various developmental stages. Finally, AI literacy aims to ensure inclusive access to AI learning environments for all students, regardless of background, status or ability. In Canada, some provinces and school boards are moving ahead with AI integration, while others offer very little teacher training and resources to do so. Some universities and community organizations are also taking the lead in building AI literacy by providing curricula, resources and training to teachers and students. These scattered efforts, while appreciated, lead to AI learning opportunities that are often ad-hoc or extracurricular. Without national or province-wide requirements, many students - especially in marginalized communities and under-resourced schools - may graduate high school with no exposure to AI concepts at all, worsening the digital divide. To put Canada's situation in context, it is useful to compare with other countries that are implementing or proposing national AI education initiatives. As part of its National AI Strategy, Singapore launched a partnership to strengthen students' AI literacy, building on earlier initiatives that focused on teacher training. In China, the Ministry of Education issued systematic guidelines to promote AI education in primary and secondary schools. Similarly, the United Arab Emirates introduced AI classes into its curricula starting in the primary years. More recently, the United States established an AI framework and a task force aimed at "building essential AI literacy from an early age to maintain a competitive edge in global technology development and prepare students for an AI-driven economy." Canada, in comparison to these examples, has strengths in its bottom-up innovation but lacks a guiding vision. Canada needs a co-ordinated strategy that leverages federal-provincial collaboration through a unifying framework, shared resources and a common baseline of AI knowledge that every Canadian student should acquire. A meaningful AI literacy strategy must begin in the classroom with age-appropriate content. Students can start with the technical foundations and advance to think critically about AI's limitations, ethical issues and social implications. It's important that this content is woven across subjects and presented in ways that reflect the cultural and social contexts of learners. Equally essential is supporting educators. Teachers need practical, research-informed professional development and teaching toolkits that equip them to guide students through both the opportunities and risks of AI. To make these efforts sustainable and equitable, a national strategy must also include policy directions, regulations for the tech industry, community outreach programs and intentional opportunities for collaboration between various stakeholders (researchers, policymakers, school boards, teacher education programs and so on). Whether you think AI is a good or bad thing, the fact is it's here. This is not a call to incorporate AI tools in schools. It is a call to make Canadian students aware of its abilities and implications. Our kids need to learn about this technology and how to use it responsibly.
