First Independent Mena Newspaper
DP World has appointed Portuguese construction giant Mota-Engil to oversee the development of the Banana Port, the Democratic Republic of Congo’s (DRC) first deep-water maritime gateway. Located in Kongo Central province along the Atlantic coast, the port is expected to revolutionize trade in the DRC and strengthen regional economic networks. Banana Port, one of Africa’s […]
Experts at a recent 57th Conference of African Ministers of Finance emphasized the need for African governments to prioritize local currencies for trade and transactions. Hanan Morsy, chief economist of the UN Economic Commission for Africa, highlighted that reducing reliance on the U.S. dollar would protect Africa’s economies from external financial shocks. Africa’s use of […]
Sudan has imposed a complete ban on Kenyan imports in response to Kenya’s role in hosting the paramilitary Rapid Support Forces (RSF) and its allies, who recently formed a parallel government in Nairobi. The decision, issued by Sudan’s Ministry of Trade, halts the entry of Kenyan goods, including essential items like tea, food, and pharmaceuticals, […]
Chinese state-owned firms are playing a dominant role in port development across Africa, with a presence in 78 ports across 32 countries as builders, financiers, or operators, sparking concerns about China’s long-term geo-strategic aims. According to a new report by the Washington-based Africa Center for Strategic Studies, these Chinese firms are not only builders and […]
Ghanaian President John Dramani Mahama has met with Burkina Faso’s interim leader, Captain Ibrahim Traoré, in high-level talks aimed at enhancing regional stability and fostering deeper economic partnerships. The discussions, held in Ouagadougou on Monday (10 March), covered a range of issues, with a particular emphasis on improving relations with the Economic Community of West […]
Canada has launched its inaugural Africa Strategy, a comprehensive policy aimed at enhancing economic cooperation, security, and shared prosperity between Canada and African nations. Developed through extensive consultations over two years, the strategy, launched on 6 March, seeks to strengthen trade, promote peace, and foster sustainable development, particularly through youth empowerment and infrastructure development. The […]
As the volume of trade between Africa and India has multiplied in the past 20 to 30 years and India has become the continent’s third largest trading partner after China and the EU, analysts say that the African Free Trade Area (AfCFTA) offers significant opportunities for New Delhi to help the continent realize its vision […]
The Horn of Africa countries should turn to trade as a solution to persistent conflict and political instability, says a new report by the United Nations Development Programme (UNDP), that suggests that the lack of intra-regional trade, as well as poor infrastructure, has fueled conflict and violence by perpetuating poverty and a sense of marginalization. […]
A new credit rating agency designed to address the needs of sovereign borrowers in Africa, and led by an African Union (AU) Commissioner, is on track to be launched in 2025, according to a senior AU official. Speaking with reporters in Accra, the AU Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, Albert Muchanga, […]
Morocco and south Korea are heading towards the establishment of a legal framework on trade and investment, with the aim to conclude an Enhanced Partnership Agreement (EPA). This was stated in a joint communiqué that was signed in Seoul by the Korean Minister of Trade Inkyo Cheong and Moroccan Foreign Minister Nasser Bourita, who participated […]