Browsing: Africa Free Trade Agreement

China Sneezes Will Africa Catch A Cold
  • China’s GDP is central to the global economy and especially in Africa
  • The Asian country’s economy is integrated with nearly every sphere of global trade from manufacturing to finance and mining
  • This means that when China does well economically so do African countries

The AFCFTA will transform Africa if it can be implemented.

China is an integral part of the global economic matrix. The Asian behemoth is responsible for the economic well-being of a litany of countries in the world.

Much of the economic growth enjoyed by numerous countries owes itself to and is sponsored by China’s economic activity either in whole or in part. China’s mass urbanization gave a spark to producers of natural commodities who continue to rely on the Asian country’s appetite for these natural resources for their income.

China went from being a pure-play communist republic to a hybrid capitalistic society of sorts owing to its …

US Africa summit
  • The summit that will be held from Tuesday, July 19, until Friday, July 22, will focus on economic recovery post-COVID-19 pandemic
  • The 2022 summit is being held under the theme “Building Forward Together” and will explore investment opportunities amid rising inflation and high cost of living
  • Morocco had in 2020 been selected by the CCA Board of Directors to host the conference, which was cancelled due to the COVID-19 pandemic
  • It’s the first time Corporate Council on Africa (CCA) organised the summit on African soil
The four-day 14th United States-Africa summit began on Tuesday, July 19, in Marrakech, Morocco.
The summit that will be held until Friday, July 22, will focus on economic recovery post-COVID-19 pandemic. It will provide opportunities for the Joe Biden-led administration and its partners in Africa to enhance their bilateral relations.
The 2022 summit is being held under the theme “Building Forward Together”. For four days,
ECA Sub-Regional Office for Eastern Africa Director Mama Keita. Keita says that the Ukraine crisis has pushed food prices to heightened levels not seen since 2008.

Since the beginning of the Russia-Ukraine crisis, fertilizer prices have risen by 21 per cent.

It was noted that “the recovery of Africa has been impeded by greater inflation and tighter global financial conditions as well as rising interest rates,”

To counter external shocks, such as the Ukraine crisis, she urged public and private sector partnerships to enhance intra-African agri-food, industry, and service trade. She also urged the continent’s recovery from Covid-19 to get back on track.

When asked if Africa needs a second Marshall Plan, Keita said that Africa already has an effective one, in the AfCFTA, that may help it prepare for unpredictable times.…

US playing catch-up to China in Africa as Pompeo visits

The visit by US Secretary of State Mike Pompeo to three African countries of Senegal, Angola, and Ethiopia is significant for the Trump administration not only as of the first trip the senior official has made to the continent, but a first for a senior official since the launch of the new strategy for Africa. The last time a senior official to visit sub-Sahara Africa was Pompeo’s predecessor, Rex Tillerson who lost his job while on a trip to Kenya.

Trump’s Africa Strategy was aimed at promoting prosperity, security, and stability in relations, and the business-friendly Prosper Africa which aims to substantially increase two-way trade and investment between the United States and Africa.

The leading issue will mainly be on security and counter-terrorism efforts mainly in the Sahel as well as the horn of Africa. Though Somalia has remained a point of discussion in terms of security, there is a …

African leaders descend into Dubai for the Global Business Forum Africa

The United Arab Emirates (UAE) has joined a growing list of countries that are yearning to tap into the numerous opportunities within the African continent as well as boost trade and development. Heads of state, ministers, policymakers, prominent business leaders, investors and entrepreneurs from Africa are descending on Dubai for the two-day Global Business Forum Africa 2019.

Held under theme “Scale-Up Africa”, the fifth edition of the forum is organised by Dubai Chamber of Commerce and Industry (Dubai Chamber) under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

GBF Africa 2019 is the largest event of its kind in the region, focusing on Africa’s vast economic potential and exploring new avenues of cooperation between UAE businesses and their African counterparts. Established in 1965, the Dubai Chamber of Commerce & Industry is a non-profit public entity, whose …