Monday, January 30, 2023
  • Home
  • Markets & Companies
  • Business & Economy
  • INNOVATION
  • EMPIRE
  • OPINION
  • CULTURAL CURRENTS
  • Features
  • AE Magazine
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result
  • Home
  • Markets & Companies
  • Business & Economy
  • INNOVATION
  • EMPIRE
  • OPINION
  • CULTURAL CURRENTS
  • Features
  • AE Magazine
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result

Highway solicits more investment on Lake Victoria

Nkasiobi Oluikpe by Nkasiobi Oluikpe
March 31, 2021
in ENVIRONMENT, Front Page
0
Highway solicits more investment on Lake Victoria
0
SHARES
31
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsApp

The High Impact Weather Lake System project has advocated more investment from international development partners for the implementation of the Regional Early Warning System Vision 2025.

Highway is the World Meteorological Organisation project for Lake Victoria

READ ALSO

Zelenskyy names Ezekwesili, others ‘Grain from Ukraine’ envoys

Absence of sacrifice hurting our polity, elections – Enechionyia

The funding, according to reports, will make a huge difference on the lives of 25 per cent of the Lake Victoria surrounding population who earn their livelihood from it.

Read Also:

  • Afrinvest, Interswitch, Obiano, UBA lead top 10 performing brands
    Afrinvest, Interswitch, Obiano, UBA lead top 10 performing…
  • Absence of sacrifice hurting our polity, elections – Enechionyia
    Absence of sacrifice hurting our polity, elections –…
  • Scholarly opportunities in W’Africa and youth development
    Scholarly opportunities in W’Africa and youth development

Described as the world’s most dangerous lake due to its erratic extreme weather conditions, Lake Victoria is home to over 30 million people who live near its coastline.

CNN reports that over 5,000 people lose their lives on the East African lake yearly. This is being attributed to navigation accidents caused by strong winds and waves.

Despite negative news about Lake Victoria, its economic importance cannot be underestimated. It is said to host Africa’s largest inland fishery, which produces about one million tonnes of fish yearly, employing over 200,000 fisher-folks and generating over $500m in exports.

It is the second biggest freshwater lake in the world, the biggest in Africa and the chief reservoir for River Nile. Added to this is the presence of about 1,400 landing sites or beaches from which 50,000 boats operate. But the toll on life is heavy due to inadequacy of early weather alerts in the lake.

This informs the growing momentum to scale up the investment as part of support for the implementation plan of the East African Community Regional Early Warning System Vision 2025.

The early alert, which will be sent through local media and mobile phones, will help the locals to gain efficient understanding of thunderstorm evolution and factors controlling storms severity.

The ongoing Highway project, according to reports, has been addressing some of the issues and has reduced yearly weather-related deaths by 30 per cent. The economic benefits of the project is estimated at $44m yearly.

WMO Secretary-General, Petteri Taales, disclosed that the projected has demonstrated that improved access to, and use of, co-designed early warnings has protected lives and livelihoods as well as the economic and social well-being of the communities living in the Lake Victoria Basin.

“Highway demonstrates the difference partner funding can make to lives and livelihoods when implemented through a coordinated and collaborative approach. Fewer lives lost and less damage to properties,” Julius Court, Deputy High Commissioner and Development Director, FCDO, Nairobi, Kenya, said.

The massive lake, which is recorded to be some 70,000 square kilometres, stretches through Tanzania, Uganda and Kenya.

Tags: HighwayinvestmentLake Victoria

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Nkasiobi Oluikpe

Nkasiobi Oluikpe

Related Posts

Zelenskyy
EMPIRE

Zelenskyy names Ezekwesili, others ‘Grain from Ukraine’ envoys

January 27, 2023
Absence of sacrifice hurting our polity, elections – Enechionyia
EMPIRE

Absence of sacrifice hurting our polity, elections – Enechionyia

January 26, 2023
Brands in Nigeria
Front Page

Afrinvest, Interswitch, Obiano, UBA lead top 10 performing brands

January 25, 2023
Rhodes Scholarships
CULTURAL CURRENTS

Scholarly opportunities in W’Africa and youth development

January 24, 2023
Christmas and New Year holidays
CONSUMER PERSPECTIVE

Frustration of bank customers during public holidays

January 17, 2023
Front Page

OAA agency celebrates as founder joins tourism experts

January 14, 2023
Next Post
Africa’s Business Heroes finalists emerge

Africa’s Business Heroes finalists emerge


Naira4Dollar Rates
ADVERTISEMENT

RECENT STORIES

Zelenskyy

Zelenskyy names Ezekwesili, others ‘Grain from Ukraine’ envoys

January 27, 2023
Absence of sacrifice hurting our polity, elections – Enechionyia

Absence of sacrifice hurting our polity, elections – Enechionyia

January 26, 2023
Brands in Nigeria

Afrinvest, Interswitch, Obiano, UBA lead top 10 performing brands

January 25, 2023
Rhodes Scholarships

Scholarly opportunities in W’Africa and youth development

January 24, 2023
Christmas and New Year holidays

Frustration of bank customers during public holidays

January 17, 2023

OAA agency celebrates as founder joins tourism experts

January 14, 2023
Ehizua Hub

Ehizua Hub, Igbinedion launch IUO Okada Hub

January 14, 2023

TRENDING

  • Brands in Nigeria

    Afrinvest, Interswitch, Obiano, UBA lead top 10 performing brands

    0 shares
    Share 0 Tweet 0
  • Absence of sacrifice hurting our polity, elections – Enechionyia

    0 shares
    Share 0 Tweet 0
  • Scholarly opportunities in W’Africa and youth development

    0 shares
    Share 0 Tweet 0
  • Case for petty trading and investment in Nigeria

    0 shares
    Share 0 Tweet 0
  • Why Nigerian consumers prefer foreign goods

    0 shares
    Share 0 Tweet 0
Financial Street

© Financial Street 2021. All Rights Reserved.

More Links

  • Privacy Policy
  • Terms of Use
  • Contact Us

Follow Us

No Result
View All Result
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS