Business
Disasters cost global agriculture $3.26 trillion over three decades – FAO
FAO discloses this in its new report released in November 2025, tagged ,’ The Impact of Disasters on Agriculture and Food Security 2025.’
The Food and Agriculture Organization of the United Nations (FAO) says that disasters have inflicted an estimated $3.26 trillion in agricultural losses worldwide over the past 33 years – an average of $99 billion annually, roughly 4 percent of global agricultural GDP.
FAO discloses this in its new report released in November 2025, tagged ,’ The Impact of Disasters on Agriculture and Food Security 2025.’
The report highlights how digital technologies are transforming how farmers, governments and communities can monitor risks, anticipate impacts, and protect livelihoods.
The report provides the most comprehensive global assessment to date of how disasters – from droughts and floods to pests and marine heatwaves – are disrupting food production, livelihoods and nutrition.
It also demonstrates how digital innovations are shifting agrifood systems from reactive crisis management to proactive data-driven resilience-building.
“Digital technologies are already revolutionizing how we monitor risks, deliver early warnings and support farmers’ decision-making.
From the 9.1 million farmers now accessing parametric insurance through digital platforms to the communities using our early warning systems to evacuate 90 percent of at-risk populations before disasters strike, we are witnessing a fundamental shift from reactive response to proactive risk reduction.” said FAO Director-General QU Dongyu in the foreword to the report.
Heavy toll on global food security
Between 1991 and 2023, disasters wiped out 4.6 billion tonnes of cereals, 2.8 billion tonnes of fruits and vegetables, and 900 million tonnes of meat and dairy.
These losses translate to a daily per capita reduction of 320 kilocalories – 13–16 percent of average energy needs.
Asia accounts for the largest share of global losses of 47 percent, totaling $1.53 trillion, reflecting both the scale of agricultural production and the region’s high exposure to floods, storms and droughts.
The Americas represent 22 percent of global losses or $713 billion, driven by recurrent droughts, hurricanes, and extreme temperature events that heavily impact large commodity crop systems.
Africa, while recording lower absolute losses of $611 billion, suffers the highest proportional impacts, losing 7.4 percent of agricultural GDP to disasters – the largest relative burden of any region.
In economies where agriculture accounts for a significant share of employment and income, these losses have had severe consequences for food security and rural stability.Small Island Developing States (SIDS) remain among the world’s most vulnerable to disasters such as cyclones, floods, and sea-level rise.
Despite relatively small agricultural output, disaster-related losses represent a disproportionately high share of agricultural GDP.
The report also finds that marine heatwaves caused $6.6 billion in losses between 1985 and 2022, affecting 15 percent of global fisheries. Yet, losses in fisheries and aquaculture remain largely invisible in disaster assessments, despite supporting the livelihoods of 500 million people.
Business
CBN grants Opay, Moniepoint, Kuda Palmpay and Paga national banks status
With national licenses, these FinTechs are subject to higher capital requirements, for example, N5 billion for national MFBs, and must maintain offices for dispute resolution while continuing to drive financial inclusion.
• CBN Governor Olayemi Cardoso
THE Central Bank of Nigeria (CBN) has upgraded the licenses of major FinTech companies and Microfinance Banks, including Opay and Moniepoint, to national status, allowing them to operate across the country following compliance with regulatory requirements.
The upgrade applies to key players such as Moniepoint MFB, Opay, Kuda Bank, Palmpay, and Paga, which have grown rapidly through mobile technology and agent networks, effectively outgrowing their previous regional licenses.
The Director of the Other Financial Institutions Supervision Department, Yemi Solaja, confirmed this development in Lagos at the annual conference of the Committee of Heads of Banks’ Operations,
He said: “Institutions like Moniepoint MFB, Opay, Kuda Bank, and others have now been upgraded. In practice, their operations are already nationwide.”
Solaja emphasized the importance of physical presence for customer support, noting “Most of their customers operate in the informal sector.
They need a clear point of contact if any issues arise.
”With national licenses, these FinTechs are subject to higher capital requirements, for example, N5 billion for national MFBs, and must maintain offices for dispute resolution while continuing to drive financial inclusion.
The reform follows previous enforcement actions, including 2024 penalties of N1 billion each on Moniepoint and Opay for KYC non-compliance, underscoring the CBN’s ongoing efforts to strengthen standards in digital finance
Business
Afreximbank terminates credit rating with Fitch
Fitch cut Afreximbank’s credit rating to one notch above “junk” status last year, citing high credit risks and weak risk-management policies, and put it on a “negative outlook” – rating agency terminology for another downgrade warning.
African Export-Import Bank (Afreximbank) has terminated its credit rating relationship with Fitch Ratings.
In an announcement on its website, Afreximbank explained that it’s decision follows a review of the relationship, and its firm belief that the credit rating exercise no longer reflects a good understanding of the Bank’s Establishment Agreement, its mission and its mandate.
The bank maintained that it’s business profile remains robust, underpinned by strong shareholder relationships and the legal protections embedded in its Establishment Agreement, signed and ratified by its member states.
Reuters, in an additional report , said that Afreximbank has been in a battle over whether it must take losses on loans to debt-defaulted countries, including Ghana and Zambia, which turns on whether it enjoys so-called “preferred creditor status”.
Fitch cut Afreximbank’s credit rating to one notch above “junk” status last year, citing high credit risks and weak risk-management policies, and put it on a “negative outlook” – rating agency terminology for another downgrade warning.
It has also said that any weakening of preferred creditor status at institutions like Afreximbank “could lead to negative rating action.”
Business
Data Centers Attract $270bn Investments in 2025 — Unctad
France, the United States and the Republic of Korea led as host countries, while emerging markets such as Brazil, India, Thailand and Malaysia also attracted major projects.
Image credit : Unctad
UN Trade and Development has reported that out of $1.6 trillion global foreign direct investment (FDI) in 2025, data centres attracted more than one fifth of global greenfield projects, with announced investment exceeding $270 billion.
In the report published this week on its website, Unctad, said that the demand for data centers investment was driven by AI infrastructure and digital networks.
The report reads:
” France, the United States and the Republic of Korea led as host countries, while emerging markets such as Brazil, India, Thailand and Malaysia also attracted major projects.
Similarly, the value of newly announced semiconductor projects rose by 35%.
By contrast, project numbers fell sharply by 25% in tariff-exposed, global value chain-intensive sectors.
Textiles, electronics and machinery were particularly affected.
While investment in technology-driven, capital-intensive projects lifts overall FDI figures, flows remain highly concentrated and generate limited spillovers.
Policies should aim to link digital infrastructure investment more closely to skills development, innovation systems and local value creation.
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