First Independent Mena Newspaper
Delegates at the biggest oil conference in Africa have expressed concern about rising prices after the Organization of Petroleum Exporting Countries (OPEC), plus non-members who also export oil, decided earlier this week to cut production targets. The majority of the oil cartel’s 13 member states are in Africa, but many countries on the continent have […]
Ghana is a classic case of emerging economies in Africa and other parts of the world who have been caught in a perfect storm and are struggling to service their foreign currency denominated loans owing to a strengthening US dollar, rising global interest rates and that is made worse by their excessive borrowing. Ghana is […]
The looming debt crisis in Africa can only be resolved with a more stable and liquidity market in African government bonds, argue Daniel Cohen, the chair of Finance for Development Lab (FDL), and Ibrahim Elbadawi, the managing director of the Economic Research Forum, in a recent policy brief. As they struggle to secure investment to […]
With an estimated 346 million people across Africa being negatively impacted by a severe food crisis, according to the Food and Agriculture Organization (FAO), a fertilizer boom is breaking out on the continent, even as environmental and green farming activists call for caution. Africa has barely used fertilizers, as only 6% of the continent’s cultivated […]
Morocco and China share the ambition to establish a “triple win” South-South cooperation in support of Africa’s all-out development, Moroccan Foreign Minister Nasser Bourita said in New York. Speaking Tuesday at a High-Level Ministerial Meeting of the Group of Friends of the Global Development Initiative (GDI), Bourita stressed that under the leadership and vision of […]
Only three African nations control about 56% of the continent’s total wealth, according to the 2022 Africa Wealth Report published by UK investment consultancy firm Henley & Partners in partnership with South African wealth intelligence firm New World Wealth. South Africa, Egypt, Nigeria, Morocco, and Kenya are Africa’s wealthiest countries. The first three countries possess […]
A decree signed by President Félix Tshisekedi has put 4,000 civil servants of the public administration of the Democratic Republic of Congo (DRC) on retirement as authorities seek to revamp state institutions. The decision was announced by Jean-Pierre Lihau, Deputy Prime Minister in charge of Public Service. Lihau was quoted by RFI as saying that […]
Investing in long-term gas projects in Africa as countries wrestle with powering their development with clean energy may not be a very good idea, United States’ special envoy on climate John Kerry has noted, as African countries denounce developed nations’ pledge to curb fossil fuel investment is unfair. “We are not saying no gas,” he […]
Pursuing continental self-sufficiency may not be an appropriate remedy for Africa’s weak position in agricultural supply chains, experts at the International Food Policy Research Institute (IFPRI) have warned. African countries must improve their transnational transport infrastructure or risk remaining vulnerable to shocks in global food supply chains, the team of experts have warned following the […]
Three Chinese astronauts, known as ‘taikonauts’, recently spoke to students from eight African countries via video link during an event hosted by the China Mission to the African Union (AU), highlighting the increasing collaboration in space between China and African nations who aspire to develop their own ambitions in the next frontier. The Forum on […]