Author: James Ndwaru

The global financial landscape has undergone a remarkable transformation in recent times. Remarkably, the issue of the de-dollarization of international trade is slowly but steadily gathering momentum. A rising trend toward de-dollarization is challenging the longstanding supremacy of the United States in the international financial system. As the dominant global reserve currency, the US dollar remains pivotal in international trade, investment, and financial transactions.…

An efficient crypto mining industry can generate more job opportunities in Africa as the demand for miners, blockchain specialists, and technology specialists increases, . This encourages nations to enhance their energy and technological capacities to support crypto operations. These enhancements can considerably benefit other industries and the economy as a whole.

African nations must embrace the chance to become a crypto mining hub. This can aid in the digital economy’s growth, citizens’ financial standing, and the infrastructure for energy production. Consequently, African governments can invest in cryptocurrencies to acquire alternative funding sources for developing renewable and alternative energy sources.…

The Arab Bank for Economic Development in Africa (BADEA) has been a key player in Senegal’s economic landscape since 1975, working diligently to promote economic and social development in the country. Dr. Sidi Ould Tah, the Director General of BADEA, sheds light on the bank’s mission, projects, and strategic partnership with Senegal in his conversation with African Business portal.

BADEA’s Mission and Operations in Senegal

As a multilateral development bank owned by 18 Arab States, BADEA’s mission is to foster cooperation between Arab countries and Africa through investments and trade. The bank operates in four main areas: infrastructure, private sector development, agricultural value chains, and support for SMEs, with a focus on women and youth entrepreneurship. However, such a business niche for investment as online gambling still remains untapped, so there is ample opportunity for new cooperation in this area. For example, the 7alalcasino website dedicates its various services to …

Africa is a strong contender for developing technologies such as blockchain and cryptocurrency owing to the continent’s growing mobile tech adoption rates. Considering the turbulent global financial markets, expensive remittance costs, and restricted banking access, blockchain in Africa offers alternatives to tackle their day-to-day issues.…

Currently, Africa is over-exposed to the impact of the US Dollar. Thus, African nations must either act individually or together to mitigate these effects. Dollar strength bursts are cyclical. Therefore, there should be enough time to implement efforts before the next one occurs. African governments have recognized the harm done in the previous year and should work round the clock to find a lasting solution.…

Regionalising the power balance between central and commercial banks can address the risks associated with the adoption of CBDCs in Africa. Commercial bank digital wallets can thus reduce the costs underlying the correspondent banking channels. These wallets can also promote cross-border trade in Africa by restricting the focus of central banks to the B2B and interbank payment ecosystems. Central banks have traditionally managed this well while incorporating these systems across borders. In such a scenario, each actor—public and private—does what it does best.…

Kenya has recently entered into a promising three-year bilateral agreement with the Royal Government of Thailand to improve crop and animal production practices in the East African nation. The agreement, signed on July 9 last year, outlines a comprehensive collaboration where the Thai government will share its knowledge and expertise in modern and emerging agricultural technologies with Kenyan scientists. The focus is on fostering a knowledge transfer partnership through training programs facilitated by existing state institutions.

Thai Ambassador’s Optimism

Thai Ambassador to Kenya, Ms Sasirit Tangulrat, expressed optimism about the partnership during a recent event at the Nyeri Kenya School of Agriculture. The occasion involved the handing over assorted agricultural equipment and exhibition materials to the center. Ambassador Tangulrat highlighted the urgency of addressing Kenya’s current food crisis, exacerbated by six consecutive seasons of failed rains.

“The Royal Thai Embassy engaged them (Kenya School of Agriculture) to set up this …

Over the past decade, addressing the three pressing needs of the youth—education, engagement, and livelihoods—has become a central tenet of global and continental policy discussions. The United Nations Sustainable Development Goals (SDGs) consider youth as essential partners for achieving inclusive and peaceful societies.

Africans of all ages seem to understand that if the youth are suffering and unable to establish productive livelihoods, it becomes a societal problem. As such, many agree that there is a need for intervention from the government and other stakeholders in addressing the challenge of youth unemployment in Africa.…

The Kwacha is the official currency of Zambia. The country’s foreign exchange rate remained unsettled for a very long time. However, Zambia has made substantial steps in recent years to strengthen its currency through economic measures and foreign support.

Zambia has set an example for other African nations by efficiently controlling its currency. While facing numerous economic issues, such as a drop in copper prices and a large debt, the Kwacha exchange rate has remained reasonably constant.…

Official data has shown that the cost of transacting in international currencies is often 2 or 3 per cent higher than dealing in local alternatives. The higher cost often creates significant international trade obstacles. Ultimately, the progressive decision-making of the Russian government could save Africa from the damaging effects of a strong dollar. Consequently, international trade will become accessible to businesses in Africa. This will boost economic growth in the respective partner countries.…