First Independent Mena Newspaper
The economic growth across Africa is projected to exceed global average this year, according to a new report published by the Afreximbank, despite several downside risks, including increasing levels of sovereign debt, associated sustainability risks, and excessive exposure to adverse terms-of-trade shocks. The report entitled ‘A Resilient Africa: Delivering Growth in a Turbulent World’, the […]
China’s slowdown that results in shrinking Chinese demand and its shift to green and high-tech sectors are bound to harm Africa’s economic prospects, according to a number of experts who have warned against an excessive dependence of African countries on the world’s second-largest economy. Economic relations between China and Africa expanded rapidly over the past […]
Madagascar welcomes the serious and credible efforts made by Morocco to move forward towards resolving the dispute over the Moroccan Sahara and hails King Mohammed VI’s initiatives to promote peace, stability, and shared prosperity in the African continent. This position was expressed in a joint communiqué issued following talks held Friday in Rabat between Malagasy […]
The United States is “missing an incredible window of opportunity” in Africa, a senior executive in US company told the US Senate Committee on Finance, urging a “quick renewal” of the African Growth and Opportunity Act (AGOA) that will have the largest impact on the US business interests on the African continent. SanMar Corporation’s general […]
Nearly 20,000 millionaires fled Africa in the past decade due to currency depreciations that eroded their wealth, according to Henley and Partners, a global citizenship and residence consultancy. The number of individuals with a wealth of $1 million in Africa dropped 8% to 135,200, while the number of billionaires was limited to 21 with a […]
African countries participating in the Africa Economic Summit 2024 held last week in Abuja pledged to boost intra-continental trade from 14% to at least 50% by 2030 under the African Continental Free Trade Area (AfCFTA). The summit closed with a release of a white paper on coordinated actions that governments and institutions should commit to […]
India is stepping up its critical mineral acquisition plans in Africa, with New Delhi reportedly eying to sign new and updated mineral pacts with about a dozen African countries, in bid to challenge China’s dominant position on the continent. India’s Ministry of Mines has said it was in discussions with Côte d’Ivoire, Democratic Republic of […]
Seven African countries collected $2.4 billion of additional revenue through tax transparency, exchange of information and related measures in 2023 than over the 13 preceding years combined, a new progress report for the so-called Africa Initiative has found. Launched at a recent 15th Meeting of the Africa Initiative in Lomé, Togo, the Tax Transparency in […]
Two years after the signing of the founding protocol, the African Energy Bank officially opened its doors on June 4 and slated the operational launch for July. This supranational bank will focus on financing oil and gas projects in Africa, with a view to bridging the financing gap in these sectors and the continent’s energy […]
Three African countries — Burkina Faso, Cameroon and the Democratic Republic of Congo (DRC) — top a list of the world’s most neglected crises for the second year in a row, according to a new report released by the Norwegian Refugee Council (NRC). The NRC’s annual report on the world’s most neglected displacement crises says […]