Tuesday, July 21

Countries

Egypt’s unemployment rate records 7.3% in Q2 of 2021-CAPMAS

In the first quarter of 2021, Egypt’s unemployment rate was at 7.4 per cent which marked a 0.1 decrease and a 2.3 per cent decrease during the same period in 2020.

According to CAPMAS, Egypt’s labour force in Q2 was estimated to be 29.115 million individuals in comparison to 29.284 million individuals in the first quarter which was a decrease of 0.6 per cent.

In urban areas, the labour force is estimated to be around 12.981 million persons while in rural areas it is estimated to be 16.134 million persons. The total number of females was recorded as 4.882 million individuals.

The Maputo daily Noticias wrote after the SADC summit that a budgetary allocation of US$29.5 million has been set aside for the three-month extension, after high-level consultations and this would mean until at least mid-April.

The SAMIM extension set from mid-January.

Addressing the opening session of the summit, the current SADC Chairperson, Malawian President Lazarus Chakwera, urged regional bloc member states to stick together and ensure that SAMIM remains multidimensional and comprehensive.

An additional advantage is that African government representatives and heads of many international organizations work in this city.

South Africa and Egypt, as possible alternatives, were thoroughly discussed as South Africa and Russia are members of BRICS, and Egypt has excellent post-Soviet relations.

Reminding that the first summit held in Sochi was co-chaired by President Vladimir Putin and Egyptian President Abdel Fattah el-Sisi, who also rotationally during that year headed the African Union.

The large-scale Russia-Africa summit, held in Sochi in October 2019, and described as the first of its kind in the history of Moscow’s relations with Africa, attracted more than 40 African presidents, as well as the heads of major regional associations and organizations.

Zanzibar's President Ali Mohamed Shein with Basra Textiles Ltd CEO Ahmed Othman. Basra Textiles invest US$51.3 million in the factory. www.theexchange.africa

In 2018, the global textile industry’s worth stood at approximately $920 billion. The global Textile Market Analysis of 2021 to 2028 anticipates that the market could reach $1,412.5 billion by 2028.

The market drivers include the rise in consumer awareness, e-commerce platforms to support sales, and the fast-changing fashion trends in the industry.

The CEO of Basra Textiles, Ahmed Othmad, said on January 11 that the factory at Chunguni area in Zanzibar was targeting to export to markets across East and Central Africa.

The January 9 agreement comes after election delays following the feud between President Mohamed Abdullahi Mohamed Farmajo and Prime Minister, Mohamed Hussein Roble.

The delays have threatened the stability of the Horn of Africa’s country.

The agreement was reached after several days of talks hosted by the Prime Minister with other state leaders to resolve the country’s political crisis.
Roble issued a declaration that the consultative meeting had agreed on the final day of the parliamentary election as February 25.

🚀 Stay Ahead. Join Our WhatsApp Channel
The Exchange Africa News WhatsApp channel
Enable Notifications OK No thanks