First Independent Mena Newspaper
With Chinese lending to Africa shrinking, the continent must focus on increasing its internal trade, diversifying trade-able goods away from commodities, and developing and solidifying its relationships with other global economic partners, according to a senior official at the Asia Business Council. The continent has long had robust economic ties with China, but now faces […]
World Economic Forum’s (WEF) annual survey of chief economists from the public and private sector is relatively upbeat about Africa, with 65% of them expecting moderate growth in sub-Saharan Africa this year, but geopolitical rifts could hit global growth. According to the WEF’s Chief Economists Outlook report, 56% of the chief economists polled anticipate a […]
Global remittances from African diaspora to their home continent are set to exceed $100bn a year amid demographic trends in Europe such as an aging population and a low birth rate that are creating a need for continued migration. Remittances to low- and middle-income countries (LMICs) grew an estimated 3.8% last year, a moderation from […]
The ruling Algerian junta has sparked a diplomatic crisis with another neighboring country, proving beyond doubt to be a regional pariah and a source of instability. Algeria is controlled by an opaque military-intelligence regime suffering from megalomania. It has already strained relations with Morocco, Spain, France, Mauritania, Tunisia, Niger, UAE, Saudi Arabia, Jordan, Egypt, and […]
Russia’s humanitarian agency Rossotrudnichestvo, also known as “Russian House”, is planning to open offices in Burkina Faso and Guinea Equatorial amid growing presence of Moscow in the African continent. Pavel Shevtsov, the deputy head of the agency told State-run news agency Sputnik about plans to set up non-State Russian Houses in the two southern African […]
Developing countries are on a “path to debt crisis” and another “lost decade”, World Bank warns in its latest annual publication, unless African and other debtor governments, private and official creditors and multilateral financial institutions agree on a quick and coordinated action to secure more support from the creditors. The 50th edition of the ‘International […]
China’ Customs Tariff Commission announced earlier this week the removal of tariffs for taxable products from six African countries, State-run Xinhua news agency reports. The move aims to embody the spirit of China-Africa friendship and cooperation, and facilitate a high-quality China-Africa community with a shared future, the commission reportedly said. Under the measure to be […]
The European Union should work together with African countries to reform the World Trade Organization’s (WTO) subsidy rules as a way to tackle the global distortions of China’s state capitalism, the German Economic Institute (IW) argues in a new report. The research report entitled ‘Reforming WTO’s Subsidy Rules: a New Opportunity to Tackle the Global […]
Global donors pledged Sunday December 3 at the 2023 Reaching the Last Mile Forum, held part of the ongoing COP28 in the UAE, a collective $777.2 million to help control, eliminate, and eradicate neglected tropical diseases (NTDs) in Africa. The event hosted by Reaching the Last Mile (RLM), the global health initiative driven by the […]
Russia is mulling plans to dispatch 200,000 tons of wheat free of charge to countries in need on the African continent by the end of the year, the Russian Ambassador to Turkey Alexey Yerkhov told Turkish daily Sabah. “Russia proposed an initiative to deliver wheat free of charge to the poorest African countries. We expect […]