High transport costs across Africa continue to hinder regional integration on the continent since large-scale transport infrastructure investments require huge investments, according to a recent World Bank report titled ‘How Does Infrastructure Support International Trade?’ The World Bank report argues that global trade has contributed to economic growth and poverty reduction in the past three […]
Tag: Africa
‘Health Silk Road’: China’s health diplomacy in Africa in post-COVID era
The controversial Beijing-funded African Center for Disease Control (CDC) in Addis Ababa, Ethiopia that is due to open in the next few months is just one example of China’s increasing investment in health care on the African continent since the pandemic as it builds what analysts and Beijing call a ‘Health Silk Road’. According to […]
African tourism potential to be unlocked by boosting air connectivity
While effective air connectivity within Africa is key to unlocking the potentials of tourism on the continent, unfavorable visa regimes, insecurity, high cost of air transport and low quality of tourism support services among other factors are hindering the growth of tourism in Africa. ”The truth is that the performance of the region’s aviation industry, […]
Mixed reaction in Africa to OPEC oil production cuts amid concern about rising prices
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 […]
A perfect storm: debt crisis looms for Ghana, other emerging economies in Africa
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 […]
African Stability and Liquidity Mechanism could help avert debt crisis — study
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 […]
Amid escalating food crisis, African agriculture is set for fertilizer boom
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, China share ambition to promote a ‘triple win’ cooperation in support of Africa
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 […]
Africa’s richest nations, including Morocco, control 66% of continent’s total wealth
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 […]
DRC puts 4,000 civil servants on retirement to revamp public administration
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 […]