First Independent Mena Newspaper
Talks over the future of the African Growth and Opportunity Act (AGOA) are set to begin by July, but African nations face growing uncertainty as U.S. tariffs threaten to undermine the landmark trade pact. AGOA, which since 2000 has granted duty-free access to the United States for eligible sub-Saharan African exports, is scheduled to expire […]
Experts at a recent 57th Conference of African Ministers of Finance emphasized the need for African governments to prioritize local currencies for trade and transactions. Hanan Morsy, chief economist of the UN Economic Commission for Africa, highlighted that reducing reliance on the U.S. dollar would protect Africa’s economies from external financial shocks. Africa’s use of […]
Morocco has reaffirmed on Monday, during the 57th session of the United Nations Economic Commission for Africa (UNECA) and the Conference of African Ministers of Finance, Planning and Economic Development in Addis Ababa, its unwavering commitment to the African continental free trade area (AfCFTA). The commitment was renewed by Minister of Industry and Trade, Riyad […]
A new report from the African Development Bank (AfDB) underscores Africa’s impressive economic recovery, highlighting the continent’s resilience, growth, and the impact of bold reforms. With a projected GDP growth from 3.2% in 2024 to 4.1% in 2025 and 4.4% in 2026, Africa is now the second-fastest-growing regional economy globally, trailing only Asia. This growth […]
As South Africa and possibly also other continental states face the real possibility of being expelled from the African Growth and Opportunity Act (AGOA), a United States Trade Act, experts are urging them to diversify their export markets. Wamkele Mene, secretary-general of the African Continental Free Trade Area (AfCFTA) Secretariat, addressed concerns at a recent […]
The African Continental Free Trade Area (AfCFTA) marks its fifth anniversary amid growing concerns about its implementation pace and effectiveness. Despite ambitious goals to create a unified market of 1.3 billion people and generate $450 billion in additional revenue by 2035, the agreement faces substantial obstacles in translating vision into reality. Infrastructure deficiencies pose a […]
A sharp restriction in off-continental irregular migration combined with escalating push factors will continue to shape governance and security priorities in Africa in 2025, according to a new report by the Africa Center for Strategic Studies (ACSS), which also highlights the urgent need for more regional cooperation to accommodate intra-continental population movements. The new analysis […]
As the volume of trade between Africa and India has multiplied in the past 20 to 30 years and India has become the continent’s third largest trading partner after China and the EU, analysts say that the African Free Trade Area (AfCFTA) offers significant opportunities for New Delhi to help the continent realize its vision […]
2025 will be a critical juncture for Africa’s trajectory, with new political leadership in both the African Union and the United States, which will coincide with a number of challenges, including the urgent need for the implementation of the AfCFTA, modernization and renewal of the AGOA, all of this happening amid the escalating climate crisis […]
Addressing non-tariff measures and fostering regulatory convergence could unlock $7.1 billion in annual welfare gains, boost intra-Africa trade by 6%, and raise wages across the continent, says a recent report published by the United Nations Conference on Trade and Development (UNCTAD). While highlighting the transformative potential of the African Continental Free Trade Area (AfCFTA), the […]