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Browsing: Africa GDP
- EAC Partner States need to fast-track implementation regulations on the liberalisation of air transport
- An extra 155,000 jobs and US$1.3 billion in annual GDP would be created if 12 countries opened their skies.
- Africa has formed the Single African Air Transport Market (SAATM) to spearhead a single unified air transport market to advance the liberalization of civil aviation in Africa.
In the spirit of creating a single market and increased integration of Africa’s 54 nations, stakeholders want airlines operating within the continent to lower fares.
Recent research by the International Air Transport Association (IATA) showed that ‘if just 12 key Africa countries opened their markets and increased connectivity, an extra 155,000 jobs and US$1.3 billion in annual GDP would be created in those countries.’
These are significant figures by any measure and IATA, the trade association for the world's airlines, representing some 260 members, maintains that lowering flight prices in…
- African nation's like Rwanda are investing in top-notch ICT systems
- Industrialization in Africa is yet a challenge being tackled by most economies
- Despite the pandemic hitting global economies several African nations stood strong
Follow the numbers they say, if one wants to understand how Africa can go beyond the typical growth trajectory that does not commensurate with its natural capital and human potential to attain economic freedom. Sustainable development is rather crucial for Africa to attain. On that note, efforts such as Africa Continental Free Trade Area (AfCTA) are a tool the region employs to breathe life into that ambition.
Numbers point towards an exciting viewpoint that questions whether Africa can sustain its economic growth without adopting the best available, sustainable economic systems.
The region has been keeping a good track record over the past years. For instance, Tanzania—has become one of the fastest-growing economies in Africa—ascending towards a low-middle-income
- Africa is now realising the African Continental Free Trade Area (AfCTA)
- Africa economy is expected to grow by 3.8 percent in 2022
- Africa has 60 percent of its population under age of 25
Africa's economy is rising and it has been for a while now. For the intelligent investor, it is wise to rise with it side by side as Africa remains the most naturally endowed continent on the planet. This in terms of human and other natural resources. Hence to Invest in Africa is the next big thing as the region needs a 360 touch on its manufacturing industries.
With projected growth hitting 1.5 billion people, Africa stands as the most profitable ground for investors within the mining, transport and services sector. The region is not only advancing economically but diplomatically too.
The African Continental Free Trade Area (AfCFTA) is yet another breeding ground for success in the
What if I told you the real GDP in Africa which is projected by African Development Bank (AfDB) to grow by 3.4 per cent in 2021, could be not as effective in measuring the actual progress of the youngest continent on the planet?
The Gross Domestic Product (GDP) a measure of economic growth was developed by an American, Simon Kuznets in 1934 in the modern concept; however, its original concept emerged in Europe between 1654 and 1676, which was a gruesome period for Africa, driven into the onset of the trans-Atlantic slave trade which ended in the 19th century.
Several discussion panels have taken a keen interest in finding out the drawbacks of GDP, including one led by Nobel economist Joseph Stiglitz (commissioned by former French President Nicolas Sarkozy) that found the measure had serious holes, saying “it is time to replace gross domestic product with real metrics of well-being
Climate change is a 21st-century phenomenon that has called the attention of most governments on planet earth. In Africa, the cost of adaptation is estimated at approximately $2 billion per year in the period 2030-2100.
According to a US-based think-tank, Brookings, research finding point out that, bold climate action could deliver at least $26 trillion in global economic benefits between now and 2030. On another, it could also generate nearly 65 million new low-carbon jobs by 2030.
All these benefits safeguard Africa’s prosperous future which is filled with exciting development projects execute across the region’s vast landscape.
As far as the adoption of new climate economy models, such as phasing our fossil fuels energy structures and ushering in renewables particularly solar and wind energy—which is proving to be useful in East Africa, the role of green banks and climate funds is inevitable.
The African Development Bank (AfDB) and the Climate …
It is with no doubt that the coronavirus pandemic (COVID-19) has caused serious troubles for economies around the world, namely in the developed world. However, addressing the matter in much of the developing world is quite different, as many governments have seen national economic outputs derailed by a few years. The situation is much worse, as its knocked off many African countries from their respective economic trajectories.
The health pandemic brought it’s friends along, as we've now witnessed an economic pandemic of sorts. Food crisis, housing crisis and political crisis have been all party to Covid-19, a theme that was explicit in the 2020 Bill and Melinda Gates Goal Keepers report published just last month (September 2020).
The report raised interesting issues to examine attentively. It argued that in just 25 weeks almost 25 years of progress was regressed, particularly on the Sustainable Development Goals and in particular