First Independent Mena Newspaper
The UAE companies topped the list of investors in the African continent, pledging projects worth 110 billion dollars between 2019 and 2023, the Financial Times reported. Most of the investments, or 72 billion dollars, went to renewable energy projects, FT said. These investments outweighed those announced by UK, France or China. UAE companies also have […]
Remittances to Africa and the Middle East, which play a pivotal role in many regional economies, significantly contributing to their GDP, are estimated to have increased 5.4% in 2024, primarily due to rebounded flows to Egypt, after a 14.6% decline in 2023. In 2024, remittance flows to low- and middle-income countries are expected to reach […]
African countries face higher tariffs and tend to import relatively low-quality digital goods compared to other regions, especially in low-income nations, a recent research by World Bank economists has found. Despite relying heavily on imports, tariffs that African countries impose on imported digital goods are about three times higher than other regions, the research has […]
Most African countries continue to rely heavily on out-of-pocket payments to fund their health services, warns a new report by the World Health Organization (WHO) Regional office for Africa, urging governments to reduce the financial strains that high health-care costs place on their population. The report, released on Universal Health Coverage Day, found that over […]
Many African countries still depend solely on food importation to survive regardless of their large land areas, says a new report by the African Export-Import Bank (Afreximbank) that also reveals that all countries on the continent together spend an average of $50 billion annually importing foods. “The nations of Africa together import approximately $50 billion […]
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 […]
A new study into global wealth creation and redistribution has revealed a noteworthy trend in Africa and the Middle East, which are now attracting a growing share of the $400 billion in wealth brought along by migrating ultra-rich individuals. Since the onset of the Covid-19 pandemic, billionaires worldwide have been relocating more frequently, with Switzerland, […]
President Joe Biden wrapped up an African visit during which he promised US investments to counter a growing Chinese influence, while focusing on the Lobito corridor that will ease the transport of critical minerals to the US market. The corridor has been at the heart of the US African strategy due to its potential in […]
Leaders across Africa and the Middle East are watching carefully the successful rebel offensive on Aleppo in Syria, experts and observers say, as this could create big problems for Russians and its so-called Africa Corps on the African continent. Experts and observers say that if the rebel offensive launched in the Syrian province of Aleppo […]
Africa needs further access to sustainable finance to achieve development goals and bolster growth, Moroccan finance minister Nadia Fattah said. “The long-awaited growth of our continent depends heavily on the ability of our countries to access the financing needed to achieve the goals of the 2030 Agenda for Sustainable Development and the African Union’s Agenda […]