Dr Akinwumi Adesina, president of the African Development Bank (AFDB), speaks in an exclusive interview with The National at the World Government Summit 2022 in Dubai. Pawan Singh / The National
Dr Akinwumi Adesina, president of the African Development Bank (AFDB), speaks in an exclusive interview with The National at the World Government Summit 2022 in Dubai. Pawan Singh / The National
Dr Akinwumi Adesina, president of the African Development Bank (AFDB), speaks in an exclusive interview with The National at the World Government Summit 2022 in Dubai. Pawan Singh / The National
Dr Akinwumi Adesina, president of the African Development Bank (AFDB), speaks in an exclusive interview with The National at the World Government Summit 2022 in Dubai. Pawan Singh / The National

Ukraine war wheat shortages could cause civil unrest in Africa, warns bank head


Ahmed Maher
  • English
  • Arabic

The sudden shortage of wheat, maize and other grains imported from Russia and Ukraine could spark civil unrest in Africa as food supply chains are tested again on the heels of a global pandemic, the president of the African Development Bank (AfDB) has said.

In an exclusive interview with The National, Dr Akinwumi Adesina said there is a yawning gap between the production of cereal crops and consumption of growing populations on the continent, which puts the region at risk of food insecurity and necessitates a major expansion of agricultural investments and adoption of new technologies.

“If we do not intervene now and support Africa to produce the food, we could easily be looking at a looming food crisis and a potential for civil unrest. Because when people can’t buy food, then you're going to have a lot of civil unrest,” he said.

The International Grains Council said that Russia and Ukraine, at war since February 24, account for almost a quarter of the world’s wheat exports and one fifth of the world’s barley exports.

Since the start of February, prices of grains have jumped from anywhere between 22 per cent to 37 per cent.

The UN Food and Agriculture Organisation (FAO) says wheat alone accounts for an estimated 20 per cent of human calorie consumption, mostly in poor nations where bread is a fixture of the daily diet.

“Now, let me explain that Russia’s exports to Africa are about $4 billion a year, 90 per cent of that is actually wheat. If you take the case of Ukraine, their exports are roughly $4.5bn a year,” Dr Akinwumi Adesina told The National on the sidelines of the World Government Summit held in Dubai on March 28-30.

“Most of that is wheat and maize. Ukraine alone accounts for 31 per cent of the maize imports for the African countries,” he added.

“So, you can see that the effect on Africa is going to be very, very serious. Many countries like Egypt, Morocco, Nigeria and Kenya will have a lot of problems.”

Averting a food crisis in Africa

Dr Adesina said the AfDB initiatives and programmes set up before the war will help to alleviate the effect on Africa, which must work tirelessly to be self-sufficient in feeding itself in the years to come.

He said the AfDB has formulated a $1bn emergency food production plan for Africa to mitigate the impact of the European war.

“We will reach 20 million farmers with technologies to produce wheat as well as rice and they will produce 30 million metric tons of food with a value of $12bn,” Dr Adesina said.

  • Workers carry sacks of wheat for distribution to more than 4,500 people who fled violence in Ethiopia's Tigray region. AFP
    Workers carry sacks of wheat for distribution to more than 4,500 people who fled violence in Ethiopia's Tigray region. AFP
  • Ethiopia's government on March 24 declared 'an indefinite humanitarian truce effective immediately', saying it hoped to help hasten delivery of emergency aid to the Tigray region. AFP
    Ethiopia's government on March 24 declared 'an indefinite humanitarian truce effective immediately', saying it hoped to help hasten delivery of emergency aid to the Tigray region. AFP
  • Farmers harvest with combines in a wheat field near the village Tbilisskaya, Russia. AP
    Farmers harvest with combines in a wheat field near the village Tbilisskaya, Russia. AP
  • A worker collects Egyptian traditional 'baladi' flatbread at a bakery in El Sharabia, in Cairo, Egypt. AP
    A worker collects Egyptian traditional 'baladi' flatbread at a bakery in El Sharabia, in Cairo, Egypt. AP
  • Fields of barley and wheat are seen outside Caledon near Cape Town, South Africa. Reuters
    Fields of barley and wheat are seen outside Caledon near Cape Town, South Africa. Reuters
  • Farmers harvest with combines in a wheat field near the village of Tbilisskaya, Russia. AP
    Farmers harvest with combines in a wheat field near the village of Tbilisskaya, Russia. AP
  • Women carry sacks of wheat during a food distribution programme organised by the Ethiopian government in the city of Alamata, Ethiopia. AFP
    Women carry sacks of wheat during a food distribution programme organised by the Ethiopian government in the city of Alamata, Ethiopia. AFP
  • Barley and wheat fields outside Caledon near Cape Town, South Africa. Reuters
    Barley and wheat fields outside Caledon near Cape Town, South Africa. Reuters
  • Wheat and barley fields in South Africa. Reuters
    Wheat and barley fields in South Africa. Reuters
  • Grain fields in South Africa. Reuters
    Grain fields in South Africa. Reuters
  • Grain fields in South Africa. Reuters
    Grain fields in South Africa. Reuters
  • Fields of barley and wheat in Caledon, South Africa. Reuters
    Fields of barley and wheat in Caledon, South Africa. Reuters
  • An Ethiopian woman sifts through distributed food supplies in a camp for the internally displaced in Adadle, in the Somali Region of Ethiopia. WFP via AP
    An Ethiopian woman sifts through distributed food supplies in a camp for the internally displaced in Adadle, in the Somali Region of Ethiopia. WFP via AP
  • A child looks after his family's animals in the Shabelle zone of the Somali region of Ethiopia. Unicef via AP
    A child looks after his family's animals in the Shabelle zone of the Somali region of Ethiopia. Unicef via AP

Drought-tolerant crops

Climate change is also aggravating food insecurity in Africa.

A third consecutive year of poor rains is posing a major threat to food security in countries already facing natural resource limitations, conflict, the Covid-19 pandemic and locust swarms.

This makes adequate assistance from the AFDB and major international institutions more urgent, says Dr Adesina.

The former minister of agriculture and rural development in Nigeria says the AfDB has incorporated biotechnology in Africa to help countries fight climate change, greenhouse gas emissions and soil degradation to increase crop production.

“For the last five years, we've been running a programme called the Feed Africa Strategy. At the core of that strategy is what is called technologies for African agricultural transformation.

“It's a platform that brings together the best of technologies from the global agricultural research centres and the private sector.

“In just two seasons in 2018 and 2019, before the pandemic, we have been able to supply 12 million farmers with drought tolerant wheat, maize, rice and soybeans.”

Biotechnology is widely used to develop new strains of corn and other crops that can thrive when water is in short supply, as environmentalists predict a global trend of worsening drought and hotter temperatures, with Africa and Middle East countries taking the brunt.

Bankable Africa

Dr Adesina says Africa can offer enormous economic potential and growth, as it’s open to all investors from around the world.

He says there’s no better region to accelerate and boost foreign investments.

“In 2018, 2019 and 2022, in those three years, we were able to attract investment commitments to Africa amounting to $110bn dollars. That is incredible. In 2018, when we started the campaign to attract investors, we got $38.7bn in less than 72 hours. The following year, we did $40.1bn in less than 72 hours as well.”

During his visit to the UAE, Dr Adesina met Sheikh Maktoum bin Mohammed, Deputy Prime Minister, Minister of Finance and Deputy Ruler of Dubai.

He also met Ahmed Saeed Al Calily, CEO and Chief Strategy and Risk Officer of Mubadala Investment Company, Abu Dhabi’s strategic investment arm. They discussed potential investment partnership opportunities in Africa.

Dr Adesina further signed a Memorandum of Understanding with Abu Dhabi Fund for Development aimed at strengthening investment cooperation to drive sustainable socioeconomic development.

The president of the AfDB said that last week, the AfDB secured $32.8bn in investment commitments at the three-day Africa Investment Forum held online.

The largest investor interest, he said, was $15.6bn for the Lagos-Abidjan mega motorway, connecting West Africa's two major cities in Nigeria and Ivory Coast.

“So, that just tells you that Africa is back, given the areas where we were able to secure significant investment in infrastructure,” he said.

“We have over 500 investors from around the world. So, all that to say that Africa is bankable, when you look at the fundamentals of the population 1.3 billion people which will be same in 2050 will be bigger than China and India today.”

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Fixtures (all times UAE)

Saturday
Brescia v Atalanta (6pm)
Genoa v Torino (9pm)
Fiorentina v Lecce (11.45pm)

Sunday
Juventus v Sassuolo (3.30pm)
Inter Milan v SPAL (6pm)
Lazio v Udinese (6pm)
Parma v AC Milan (6pm)
Napoli v Bologna (9pm)
Verona v AS Roma (11.45pm)

Monday
Cagliari v Sampdoria (11.45pm)

SPECS
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THE%C2%A0SPECS
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David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

THE%20SPECS
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WHEN TO GO:

September to November or March to May; this is when visitors are most likely to see what they’ve come for.

WHERE TO STAY:

Meghauli Serai, A Taj Safari - Chitwan National Park resort (tajhotels.com) is a one-hour drive from Bharatpur Airport with stays costing from Dh1,396 per night, including taxes and breakfast. Return airport transfers cost from Dh661.

HOW TO GET THERE:

Etihad Airways regularly flies from Abu Dhabi to Kathmandu from around Dh1,500 per person return, including taxes. Buddha Air (buddhaair.com) and Yeti Airlines (yetiairlines.com) fly from Kathmandu to Bharatpur several times a day from about Dh660 return and the flight takes just 20 minutes. Driving is possible but the roads are hilly which means it will take you five or six hours to travel 148 kilometres.

Match info:

Manchester City 2
Sterling (8'), Walker (52')

Newcastle United 1
Yedlin (30')

Switching%20sides
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UAE currency: the story behind the money in your pockets
US%20federal%20gun%20reform%20since%20Sandy%20Hook
%3Cp%3E-%20April%2017%2C%202013%3A%20A%20bipartisan-drafted%20bill%20to%20expand%20background%20checks%20and%20ban%20assault%20weapons%20fails%20in%20the%20Senate.%3C%2Fp%3E%0A%3Cp%3E-%20July%202015%3A%20Bill%20to%20require%20background%20checks%20for%20all%20gun%20sales%20is%20introduced%20in%20House%20of%20Representatives.%20It%20is%20not%20brought%20to%20a%20vote.%3C%2Fp%3E%0A%3Cp%3E-%20June%2012%2C%202016%3A%20Orlando%20shooting.%20Barack%20Obama%20calls%20on%20Congress%20to%20renew%20law%20prohibiting%20sale%20of%20assault-style%20weapons%20and%20high-capacity%20magazines.%3C%2Fp%3E%0A%3Cp%3E-%20October%201%2C%202017%3A%20Las%20Vegas%20shooting.%20US%20lawmakers%20call%20for%20banning%20bump-fire%20stocks%2C%20and%20some%20renew%20call%20for%20assault%20weapons%20ban.%3C%2Fp%3E%0A%3Cp%3E-%20February%2014%2C%202018%3A%20Seventeen%20pupils%20are%20killed%20and%2017%20are%20wounded%20during%20a%20mass%20shooting%20in%20Parkland%2C%20Florida.%3C%2Fp%3E%0A%3Cp%3E-%20December%2018%2C%202018%3A%20Donald%20Trump%20announces%20a%20ban%20on%20bump-fire%20stocks.%3C%2Fp%3E%0A%3Cp%3E-%20August%202019%3A%20US%20House%20passes%20law%20expanding%20background%20checks.%20It%20is%20not%20brought%20to%20a%20vote%20in%20the%20Senate.%3C%2Fp%3E%0A%3Cp%3E-%20April%2011%2C%202022%3A%20Joe%20Biden%20announces%20measures%20to%20crack%20down%20on%20hard-to-trace%20'ghost%20guns'.%3C%2Fp%3E%0A%3Cp%3E-%20May%2024%2C%202022%3A%20Nineteen%20children%20and%20two%20teachers%20are%20killed%20at%20an%20elementary%20school%20in%20Uvalde%2C%20Texas.%3C%2Fp%3E%0A%3Cp%3E-%20June%2025%2C%202022%3A%20Joe%20Biden%20signs%20into%20law%20the%20first%20federal%20gun-control%20bill%20in%20decades.%3C%2Fp%3E%0A
Tonight's Chat on The National

Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.

Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster with a decades-long career in TV. He has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others. Karam is also the founder of Takreem.

Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.

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Final scores

18 under: Tyrrell Hatton (ENG)

- 14: Jason Scrivener (AUS)

-13: Rory McIlroy (NIR)

-12: Rafa Cabrera Bello (ESP)

-11: David Lipsky (USA), Marc Warren (SCO)

-10: Tommy Fleetwood (ENG), Chris Paisley (ENG), Matt Wallace (ENG), Fabrizio Zanotti (PAR)

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

List of officials:

Referees: Chris Broad, David Boon, Jeff Crowe, Andy Pycroft, Ranjan Madugalle and Richie Richardson.

Umpires: Aleem Dar, Kumara Dharmasena, Marais Erasmus, Chris Gaffaney, Ian Gould, Richard Illingworth, Richard Kettleborough, Nigel Llong, Bruce Oxenford, Ruchira Palliyaguruge, Sundaram Ravi, Paul Reiffel, Rod Tucker, Michael Gough, Joel Wilson and Paul Wilson.

England 12-man squad for second Test

v West Indies which starts Thursday: Rory Burns, Joe Denly, Jonny Bairstow, Joe Root (captain), Jos Buttler, Ben Stokes, Moeen Ali, Ben Foakes, Sam Curran, Stuart Broad, Jimmy Anderson, Jack Leach

The Farewell

Director: Lulu Wang

Stars: Awkwafina, Zhao Shuzhen, Diana Lin, Tzi Ma

Four stars

The specs

Price, base / as tested Dh1,100,000 (est)

Engine 5.2-litre V10

Gearbox seven-speed dual clutch

Power 630bhp @ 8,000rpm

Torque 600Nm @ 6,500rpm

Fuel economy, combined 15.7L / 100km (est) 

The nine articles of the 50-Year Charter

1. Dubai silk road

2.  A geo-economic map for Dubai

3. First virtual commercial city

4. A central education file for every citizen

5. A doctor to every citizen

6. Free economic and creative zones in universities

7. Self-sufficiency in Dubai homes

8. Co-operative companies in various sectors

­9: Annual growth in philanthropy

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

The Bloomberg Billionaire Index in full

1 Jeff Bezos $140 billion
2 Bill Gates $98.3 billion
3 Bernard Arnault $83.1 billion
4 Warren Buffett $83 billion
5 Amancio Ortega $67.9 billion
6 Mark Zuckerberg $67.3 billion
7 Larry Page $56.8 billion
8 Larry Ellison $56.1 billion
9 Sergey Brin $55.2 billion
10 Carlos Slim $55.2 billion

UAE%20v%20West%20Indies
%3Cp%3EFirst%20ODI%20-%20Sunday%2C%20June%204%20%0D%3Cbr%3ESecond%20ODI%20-%20Tuesday%2C%20June%206%20%0D%3Cbr%3EThird%20ODI%20-%20Friday%2C%20June%209%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EMatches%20at%20Sharjah%20Cricket%20Stadium.%20All%20games%20start%20at%204.30pm%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3EUAE%20squad%3C%2Fstrong%3E%0D%3Cbr%3EMuhammad%20Waseem%20(captain)%2C%20Aayan%20Khan%2C%20Adithya%20Shetty%2C%20Ali%20Naseer%2C%20Ansh%20Tandon%2C%20Aryansh%20Sharma%2C%20Asif%20Khan%2C%20Basil%20Hameed%2C%20Ethan%20D%E2%80%99Souza%2C%20Fahad%20Nawaz%2C%20Jonathan%20Figy%2C%20Junaid%20Siddique%2C%20Karthik%20Meiyappan%2C%20Lovepreet%20Singh%2C%20Matiullah%2C%20Mohammed%20Faraazuddin%2C%20Muhammad%20Jawadullah%2C%20Rameez%20Shahzad%2C%20Rohan%20Mustafa%2C%20Sanchit%20Sharma%2C%20Vriitya%20Aravind%2C%20Zahoor%20Khan%0D%3C%2Fp%3E%0A
Updated: April 01, 2022, 8:57 AM