First Independent Mena Newspaper
Commitments for Private Participation in Infrastructure (PPI) across 263 projects in Africa were worth $91.7 billion in 2022, a 23% increase from 2021, according to the World Bank’s latest data projection on investments, which demonstrates that infrastructure investments in low- and middle-income countries have started to recover. But in terms of “the total number of […]
The global daily value of mobile money transactions in 2022 surpassed forecasts to hit $3.45 trillion, according to a latest mobile money industry report, while in East Africa, the number of transactions grew by 18%. The report by Global Systems for Mobile Communications Association (GSMA) also shows that in 2022 the total value transacted on […]
Majority of oil trade routes are now at least five times longer as supplier and buyer dynamics have changed dramatically after the Western sanctions imposed on Russia over its invasion of Ukraine, raising the prospect of increased emissions. Most pre-war oil trade routes that took 5-6 days prior to the Russia-Ukraine war can now take […]
Chinese firms operating in Africa are often accused of underpaying local workers, but a new study conducted by British experts in Angola and Ethiopia suggests that this reputation is undeserved. As Chinese companies have become active in sub-Saharan Africa, they’ve earned a reputation for paying their local workers less than their Chinese colleagues. But based […]
As 93% of the most climate-vulnerable countries in the Global South are “drowning in debt, according to a new research from ActionAid, experts warn that illicit trade greatly exacerbates this budgetary disaster, which in turn robs governments of massive amounts of tax revenue while undermining medical, environmental and economic health. The ActionAid study also rings […]
Netflix plans to expand its operations in Africa, building on the success of hit shows and series like the South African drama “Blood and Water”, the online video-streaming giant said. Netflix has invested $175 million in film content production in the continent since launching its operations in South Africa, Kenya and Nigeria in 2016, having […]
The Chinese Foreign Ministry Monday said the Asian giant is a better ally for Africa than Western countries as the continent is increasingly the target of rivalry among global powers. Wang Wenbin, the spokesman of the ministry said during a press briefing Monday China can provide assistance to Africa in places and at a time […]
During the ongoing holy month of Ramadan, millions of Muslims around Africa are feeling the pinch of inflation, as food and energy prices have been soaring in the wake of the Russia- Ukraine war and also due to the lingering effects of the Covid-19 pandemic and climate change-related events on the global economy. African countries, […]
One of the most striking differences between the approaches by the European Union and the United Kingdom to negotiating trade deals with Africa is the extensiveness with which the EU negotiates these trade agreements, while the UK’s approach, in contrast, is to try to sign deals as quickly as possible, says a new report by […]
Egypt’s capital Cairo will host the third edition of Intra-African Trade Fair (IATF2023) in November. “The exhibition represents a unique opportunity to bring together African companies and make deals to achieve commercial, industrial and investment integration in the Black continent”, Egypt’s Minister of Trade and Industry Ahmed Samir said during a coordination meeting with a […]