Herbert Smith Freehills ESG Tracker (SADC Edition)
There are so many ESG-related publications and developments that it is hard to keep abreast of them all. For this reason, HSF publishes a monthly tracker of ESG-related publications and developments, with a primary focus on developments that may be of most interest to or impact our clients in the Southern African Development Community, be they corporates, asset managers or asset owners.
If you have any ESG-related questions, please get in touch with your usual contact at HSF who will be able to direct you as appropriate.
This issue covers the period from 1 December 2021 to 31 January 2022.
ANGOLA
7 December 2021
UNICEF published a call for Humanitarian Action for Children, alerting that an estimated 7.3 million people in Angola are facing food and nutrition insecurity owing to climate shocks. About 3.9 million children are in need of assistance.
9 December 2021
The African Development Bank (AfDB) announced that the Government of Angola has received financing from the AfDB (in US dollar) to assist with the cost of the Fisheries Sector Support Project. The aim of the Project is to minimise post-harvest fish losses, increase the value of fish traded and enhance safety at sea for artisanal fishers living in four coastal communities (Egipto Praia, Gilco, Sumbe and Yembe) in Angola.
The African Development Bank (AfDB) announced that the Government of Angola has received financing from the AfDB (in US dollar) to assist with the cost of the Fisheries Sector Support Project. The aim of the Project is to minimise post-harvest fish losses, increase the value of fish traded and enhance safety at sea for artisanal fishers living in four coastal communities (Egipto Praia, Gilco, Sumbe and Yembe) in Angola.
Angola's Emergency Plan of Action indicated that for the period October 2021 to March 2022, 1.58 million people have and will experience high levels of acute food insecurity, of which 43 per cent are in Integrated Food Security Phase Classification (IPC) Phase 3 (Crisis) and 15 per cent in IPC Phase 4 (Emergency).
21 December 2021
On 21 December 2021, the Angolan Executive approved the Regulation on the Law on Video Surveillance (Presidential Decree 318/21). The Regulation stipulates the technical criteria and procedures that allow for the installation and use of video surveillance systems, both public and private.
25 December 2021
The Government of the Republic of Angola, the European Union (EU) Member States present in Angola, the European Investment Bank, other international donors and financial institutions, civil society, and the private sector engaged in consultations to prepare and publish Angola's 2021-2027 Multi-annual Indicative Programme (MIP). The MIP sets out priorities for development cooperation in EU partner countries and regions, as well as financial allocations for 2021-2024 for country programs and for 2021-2027 for regional programs.
21 January 2022
FitchRatings upgraded Angola's Long-Term Foreign-Currency Issuer Default Rating to " B-" from " CCC".
24 January 2022
Reuters exclusively reported that Angola would be returning to international capital markets in 2022 to sell Euro bonds – after last issuing bonds in 2019 – and is looking to issue an ESG bond in line with environmental, social and corporate governance principles.
BOTSWANA
7 January 2022
The Sustainable Energy Fund for Africa (SEFA), managed by the AfDB, has approved a US$1 million grant in support of the energy transition in Botswana.
27 January 2022
The Minister of Mineral Resources, Green Technology and Energy Security, Lefoko Moagi, announced the launch, in collaboration with the United Nations Development Programme (UNDP), of the Biofuels Guidelines which have been created as a tool to guide stakeholders, both local and foreign, hoping to invest in biofuel production in Botswana.
COMOROS
25 January 2022
Transparency International released their 2021 Corruption Perceptions Index (CPI), which ranks countries by their perceived level of public sector corruption on a scale of 0 (highly corrupt) to 100 (very clean). The Comoros scored a poor 20 out of 100 placing it at 164 of 180 countries ranked in the Index. The Comoros' score has steadily declined since 2018 and currently sits at a historical low.
DEMOCRATIC REPUBLIC OF THE CONGO (DRC)
8 December 2021
The International Finance Corporation (IFC), the private sector arm of the World Bank, stated that it will supply the last-mile funding required to commence a 100MWac solar project in the DRC.
16 December 2021
The International Monetary Fund (IMF) Executive Board completed its first review under its extended credit facility arrangement with the DRC and approved a US$212.3 million disbursement for the DRC. The Board found that, despite the Covid-19 pandemic, the economy is recovering.
LESOTHO
25 January 2022
In Transparency International's 2021 Corruption Perceptions Index, Lesotho, scored 38 out of 100. Lesotho's score declined by 3 points since 2020. Lesotho ranked 96 out of the 180 countries ranked in the Index.
MADAGASCAR
25 January 2022
In Transparency International's 2021 Corruption Perceptions Index, Madagascar, scored 26 out of 100. Madagascar's score increased by 1 point since 2020. Madagascar ranked 147 out of 180 countries ranked in the Index.
MALAWI
25 January 2022
In Transparency International's 2021 Corruption Perceptions Index, Malawi, scored 35 out of 100. Malawi's score increased by 5 points since 2020. Malawi ranked 110 out of 180 countries in the Index.
25 January 2022
The President of Malawi dismissed his entire Cabinet after one of the Ministers was accused of committing an act of corruption.
MAURITIUS
20 January 2022
The Minister of Land Transport and Light Rail, Minster of Foreign Affairs, Regional Integration and International Trade held a briefing session for private sector institutions on the Industrial Property Act 2019, with the aim of sharing the main elements of the new industrial property framework of Mauritius.
MOZAMBIQUE
10 December 2021
The Mozambique Climate Resilience Program – Annual Report 2021 was published and aims to provide a holistic approach to livelihood for robust "asset" development towards risk mitigation by embedding water management to all aspects of household activities.
25 December 2021
The Government of Mozambique has taken and published preliminary steps to set up a national monitoring and evaluation framework for climate change which will help the country assess how climate investment in key strategic areas such as agriculture, water, social protection and health will lead to improved climate resilience.
3 January 2022
The US$2.5 billion Coral South facility, a floating plant for liquefying natural gas (LNG), reportedly arrived, after a seven week maritime voyage from South Korea, in Mozambique. This is the first floating LNG facility to be deployed to the deep waters off of Africa.
NAMIBIA
13 January 2022
It has been reported that the Director General of the National Planning Commission, Obeth Kandjoze, has recently announced that the government is planning to set up a legal framework to regulate its green hydrogen project which will be operating from Namibia's Tsau Khaeb National Park. The project aims to generate 5 gigawatts of renewable energy, while it would ultimately produce 300,000 tonnes of green hydrogen per year for regional and global markets. The need for a new legal framework has arisen owing to the existing acts governing the energy sector not sufficing to govern green hydrogen.
24 January 2022
The Namibian High Court has ruled against same-sex marriages being recognised under domestic law. The case concerned an application brought by a same-sex couple to be granted a work permit and permanent residency in Namibia. The applicants argued that the word 'spouse' in the Immigration Control Act should include same-sex spouses or failing which, should be declared unconstitutional. The Court denied the couple's request based on their same-sex marital status, which is illegal in the country under a 1927 sodomy law.
SEYCHELLES
25 January 2022
In Transparency International's 2021 Corruption Perceptions Index (CPI), the Seychelles, scored 70 out of 100, and was the highest ranking country in Africa (23 of 180 countries ranked in the Index). The Seychelles score has improved 18 points since 2012.
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