The country may take out climate insurance or establish a contingency fund to deal with major adverse weather events.The World Bank is advising South Africa’s National Treasury on a climate risk strategy after floods in recent years caused billions of dollars of damage.
"National Treasury is receiving technical support from the World Bank to develop the disaster risk response strategy which will address any gaps in financing, flow of funds and data for effective monitoring," the agency said in a response to questions. The province has since been hit by other severe floods, as have the Western Cape and the Eastern Cape provinces, while wildfires torched 1.8 million hectares of grazing land across three provinces — North West, Free State and the Northern Cape — last year.
Source: Insurance Report (insurancereport.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
National Treasury Says Rand Manipulation Scandal Is Not Entirely To Blame For SA Economic WoesSouth African and global news updates with a twist. 2oceansvibe is South Africa’s biggest solely owned online news platform with local and world news updates.
Source: 2oceansvibe - 🏆 43. / 51 Read more »
Nicole Johnson restricted from government business, says National TreasuryJohnson applied for two tenders for the construction of houses as the owner of Glomix CC. Mbandazayo says he wrote to her in June last year to raise concerns about the BB-BEE certificate after the BEE Rating Agency determined it was fraudulent as it never issued such certificates to Glomix.
Source: CapeTownEtc - 🏆 17. / 63 Read more »
South African National Treasury Allocates R1.844 Billion for Disaster ReliefThe National Treasury has approved and budgeted R1.844 billion for disaster relief in various areas for the fiscal year 2023-24. The provinces mentioned include Western Cape, Limpopo, Mpumalanga, Northern Cape, North West, KwaZulu-Natal, and Gauteng.
Source: City_Press - 🏆 7. / 72 Read more »
Nelson Mandela Bay has lost R430m in National Treasury grants due to underspendingThe blow was considerably softer than anticipated after Treasury in February indicated its intention to take away R542-million, which included a considerable part of the Expanded Public Works Programme.
Source: dailymaverick - 🏆 3. / 84 Read more »
National Treasury second most transparent fiscal authorityAlthough South Africans often feel that everything in the country is broken, National Treasury is up there with the best.
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Nigeria: Zenith Bank Named Nigeria's Best Bank for the 4th YearPress Release - The Bank emerged as the best bank in Nigeria in the Global Finance Best Banks Awards 2024
Source: allafrica - 🏆 1. / 99 Read more »