Global food supplies continue to grapple with a run of bad luck: International food supplies are still at risk despite recent declines in food prices on international markets, agriculture analysts warn, according to the Financial Times. The most imminent threat is posed by the potential discontinuation of the Black Sea Grain Initiative between Russia and Ukraine, whose renewal upon expiry in March is uncertain. Brokered by Turkey and the UN in July, the agreement has enabled Ukraine to resume its grain exports via the Black Sea after a complete blockade by Russia triggered a food crisis and sent prices rocketing.

Geopolitical tensions and climate change could also hobble supplies: Financial institutions, ins. providers, and transporters have been reluctant to take on business related to the export of Russian food and fertilizers amid concerns of exposure to sanctions — even though many Russian crops and fertilizers are exempt from the EU’s punitive measures. Global crop production is also in for a heat stroke this year, further compounding the issue. Forecasts indicate that 2023 will see the return of the El Niño climate phenomenon, which recurs every few years with a warming effect on the Pacific Ocean’s surface accompanied by extreme weather conditions, such as droughts in some areas and excessive rainfall in others.

EMs are set to face a unique set of hurdles: In developing countries, currencies losing ground to a strong USD could keep domestic costs of food supplies high even as international prices fall. “That means food inflation for consumers is likely to persist for several quarters due to the lag of about a year for internationally traded prices to work their way through to retail supply chains,” the FT says.

---

New, more advanced solar cell technology that’s been bogged down by setbacks could soon get its day in the sun with new research: High-performing perovskite solar cells (PSC), an emerging photovoltaic technology, could mark a significant advancement in the solar energy field by allowing for more efficient and durable solar panels, according to MIT. However, PSC has several drawbacks, including its high cost, instability, and complex manufacturing — all issues which Chinese-Swiss scientists are looking to address with new research that could pave the way for more widely available and affordable solar energy production. The joint study created a new model using a transparent conducting oxide (TCO) and affordable “metal composite electrode,” which can prevent ion movements and chemical reactions between the metal and perovskite, leading to significant improvements in composite electrodes. The composite electrode-PSCs has created a promising potential for stable and faster PSC manufacturing, increased power conversion efficiency (PCE) by 23.7%, and preserved 95% of the original PCE charge.

Sub-Saharan Africa gets tech fund from impact investor: Private equity firm Convergence Partners raised USD 296 mn to purchase technology assets in Africa, including data centers and subsea fiber optics cables, Bloomberg reports. This capital raise — one of the first private equity funds obtained for sub-Saharan Africa in 2023 — brings Covergence’s total funds under management to about USD 600 mn, according to Chairman Andile Ngcaba.

Narrowing the continent’s digital divide: Sub-Saharan Africa’s population is rapidly growing and is on track to double to more than 2 bn by 2050, according to The Guardian. The continent’s growing youth is increasingly using their phones for services like online banking and shopping. In order to close the gap between those with access to computers and the internet and those that do not by 2023, the continent needs an additional 700 data centers — around USD 100 bn in investment, according to Ngcaba. Convergence wants to contribute some of the funding necessary to address the digital divide, he said.