First Independent Mena Newspaper
The IMF expects the Sub-Saharan African economy to grow by 3.6% in 2024 and 4.2% in 2025, noting that growth remains “subdued and uneven.” Resource-intensive countries continue to grow at about half the rate of the rest of the region, with oil exporters struggling the most, the IMF said in its regional economic outlook. “Factors […]
The World Bank revised downwards economic growth in Sub-Saharan Africa to 3% instead of 3.4%, citing the impact of the war in Sudan. The forecast is still higher than the 2.4% registered last year, thanks to increased private consumption and investment, the Bank said in a recent report. The report forecasts growth of 3.9% for […]
Sub-Saharan Africa offers opportunity for a $193-billion investment in renewable energy sector by 2031, including utility-scale wind, solar, storage and transmission projects, which may yield an internal rate of return of 15% to 21%, much higher than with similar projects in Europe and the United States, according to a new study. “Africa represents a significantly […]
Africa accounts for a staggering 19% of all seizures of illegal wildlife materials worldwide, with virtually all of the seizures having been made in the sub-Saharan subregion, according to the latest World Wildlife Crime Report 2024. In terms of global trade flows, a majority of seizures — 44% of all records — between 2015–2021 was […]
The sub-Saharan African region that holds about 30% of the world’s proven critical mineral reserves can be transformed if it can take the opportunity to develop critical minerals markets and processing industries to maximize the potential of the coming boom, the IMF’s latest Regional Economic Outlook says. The global transition to clean energy is set […]
Sub-Saharan Africans’ income is further decreasing compared to the rest of the World amid a lackluster economic growth, the International Monetary Fund Said. Amid a surge in geopolitical conflicts and climate change devastating impacts, Sub-Saharan African economies would only grow by 3.8% this year, up from 3.4% in 2023, the IMF said in a report. […]
King Mohammed VI, Commander of the Faithful, accompanied by Crown Prince Moulay El Hassan, Prince Moulay Rachid and Prince Moulay Ismail, chaired, on Monday at the Royal Palace in Casablanca, the fifth religious lecture of the holy month of Ramadan 1445 AH. The lecture, on the theme of “Cultural and intellectual relations between Sub-Saharan Africa […]
Conflict and violence remained the main drivers of record internal displacement and movements of people in sub-Saharan Africa in 2022, exacerbated by increasing climate shocks and hazards, according to a new report by the International Organization for Migration (IOM). The report, launched recently by the IOM and the African Union Commission (AUC), highlights that migration […]
Sub-Saharan Africa’s investment in renewable energy needs to be boosted five-fold to meet the commitment of increasing global clean energy capacity to 11,500 gigawatts by 2030, according to a recent study. At COP28, governments reached a consensus to triple global renewable energy installations by 2030, to cap global warming at 1.5°C. But for Sub-Saharan Africa […]
Sub-Saharan Africa is well on its way to reach 87% smartphone adoption by 2030, driven by falling prices and digital-native users, says a recent report, that also projects that the region will likely witness a surge in smartphone adoption and the rise of 5G technology. In an era characterized by technological advancements, the mobile market […]