First Independent Mena Newspaper
Trade exchanges between Russia and Africa should move away from the US dollar and be facilitated by transition to national currencies, Russian President Vladimir Putin has said, just as Tanzania and India have inked an agreement establishing a platform by which their bilateral trade will be carried out in their own currencies, not the dollar. […]
Kenya and Uganda have launched talks for the opening of a one-stop border post in Lokiriama in northwest Kenya with the aim of fighting banditry in the region and in turn boosting cross-border trade. The two neighbors revived their September 2019 memorandum of understanding (MoU) that sought to enhance cross-border trade between the Turkana and […]
Morocco is the fourth most attractive African country and 50th worldwide for trade, according to a ranking published by Spanish consulting firm Bloom Consulting. The Spanish consulting firm, specializing in Nation Branding, has published its report “Country Brand Ranking Trade – Edition 2022-2023”. In this ranking, the kingdom is in fourth place in Africa, behind […]
Tunisia and Cote d’Ivoire’s Chambers of Commerce and Industry signed last Tuesday a Memorandum of Understanding (MoU) to bolster trade relations between the two countries as the North African country seeks to conquer the West African country’s market. The deal signed by Faman Touré and Ali ben Taher, respectively Presidents of Cote d’Ivoire Chamber of […]
US President Joe Biden will be hosting some 45 heads of state from across the African continent in Washington, DC, on 13-15 December for the flagship US-Africa Leaders Summit, but analysts say that the US president could be much more ambitious in his engagement. The three-day summit — designed to showcase, in US Vice-President’s Kamala […]
China is using new hybrid logistics links or multimodal rail-sea lines to bypass cargo chokepoints in an effort to speed up trade with Africa, where it is the largest trading partner. New rail-sea hybrid transport options stretching from western China as far as Europe, which are speeding up goods movement to Africa, imply the belt […]
Nearly 60% of African countries remain dependent on exports of commodities despite decades-long efforts to diversify. Therefore, a shift especially to technology and financial services, among other sectors, could help them withstand economic shocks, a study recently published by the United Nations Conference on Trade and Development (UNCTAD) argues. UNCTAD’s Economic Development in Africa Report […]
The African Development Bank, through its Financial Sector Development’s Trade Finance operations, has launched a Transaction Guarantee instrument designed to provide up to 100% cover for non-payment risk to regional and international banks, for trade transactions initiated by local banks in Africa. The guarantee will cover an array of trade finance instruments, including confirmed letters […]
Trade between Morocco and the rest of Africa showed an average annual growth of 6.1% over the period 2009-2019, according to “Al Maliya”, the magazine of the Moroccan Ministry of Economy & Finance. The share of this trade in the Kingdom’s overall trade volume stood at 5.1% in 2019, according to data from the Foreign […]
Turkey and its Libyan ally UN-backed Government of National Accord (GNA) Thursday inked a Memorandum of Understanding (MoU) in the area of trade and a new plan meant to solve pending issue, Libyan Observer reports citing Turkish Trade Minister Ruhsar Pekcan. The deal signed Thursday, according to Pekcan will lay the groundwork for resolving ongoing […]