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Browsing: AfCFTA
It is crucial for Africa to integrate its financial systems to create a mutualized system of financial stability that works for the continent or regional monetary cooperation as in East Asia.…
It is legal to say the world as we know it has been kidnapped by the novel coronavirus, which has left thousands dead and millions who have contracted it. The United Nations Industrial Development Organization (UNIDO) confessed that “the economic crisis unleashed by the outbreak of COVID-19 is hurting economies, regardless of income level”.
According to its latest numbers, UNIDO indicated that both lower and upper–middle-income countries have been significantly impacted by COVID-19, with an average loss in industrial production across countries, standing at 18 per cent (high-income), 24 per cent (upper middle-income) and 22 per cent (lower middle-income).
The pandemic has hurt a lot of economies but more importantly has taken a toll in some developing countries, such as Kenya and Tanzania who rely on travel and tourism dealing a huge slap on foreign receipts.
The World Bank …
Africa is great and has the potential to be greater—economically. The youngest continent in the world stands to garner billions in the trade as its youngest generation present a potential to transform, the continent’s economic pillars, from agriculture to investment.
The region has more than 1.3 people and nearly 60 per cent of its population is under 25 years, according to United Nations Data for World Population Prospects 2017. This means that Africa can fetch healthy intra-regional and international trade growth if it utilizes its existing potentials.
As the African Continental Free Trade Area (AfCFTA) is around the corner to be domesticated (postponed due to virus outbreak), the trade pact could ignite Africa’s industrialization and boost income generation.
The trade pact connects more than 1.3 billion Africans in 55 countries with a combined gross domestic product of nearly $ 3.4 trillion while lifting more than 30 million people from extreme …
The reality is that many facilities cannot effectively run without electricity. …
Kenya, Mauritius, Namibia and South Africa are the only countries on the continent where the share of online shoppers exceeds 8 per cent.…
Kenya is the major exporter and importer of the East African Community (EAC) accounting for an estimated 46 per cent of exports and 41 per cent of imports in the region…
The trade agreement aspires to create a tariff-free continent to grow local businesses, boost intra-African trade, spur industrialization and create more jobs.…
The entire African railway network is estimated at about 75,000 km going by current AU data…
Promoting economic diversification and industrialization in Africa is now a matter of priority …
The trade agreement will provide business opportunities enhancing industrialization in Africa in line with the AU’s Agenda 2063: The Africa We Want.…