Browsing: Africa

Agriculture employs a considerable proportion of the African population and contributes a sizable portion of the continent’s GDP In a…

African nation’s like Rwanda are investing in top-notch ICT systems Industrialization in Africa is yet a challenge being tackled by…

In as far as global trade is concerned Africa has a central role to play. So critical is this role that should Africa be absent from the global trade equation the global economy simply will not prosper. Africa’s mining sector offers in 2022 and going forward a real opportunity for expansion.

Africa’s economic transformation will come from its ability to leverage the comparative advantage position its natural resources offer. Africa needs to become the seventh corridor of the Belt & Road Initiative (BRI). China will be able to enhance its dominance in the global economy if it does more to invest in and develop economic ties with Africa.

Currently the BRI in as far as Africa is concerned restricts the role of Africa to providing access to raw materials.

Africans and African diaspora across the world commemorated Africa Day on May 25, 2022. The day truly serves to integrate…

These gains will come from reduced tariffs which are stubbornly high among states in the region. More and greater gains will come from the reduction of trade costs by reducing non-tariff barriers and improving what the World Bank describes as hard and soft infrastructure at borders. The aim of these measures is to reduce red tape, lower compliance costs for traders and make the integration of African businesses with global supply chains seamless.  

AfCFTA is still in its infancy stages in terms of implementation with a lot still to be seen in terms of its success. These practical reforms will be difficult to implement given the sheer size of the trade area. The trade area encompasses 54 countries however, the successful implementation of the initiative will provide substantial rewards. In terms of employment, seamless and frictionless trade between African countries has the potential to lower the gender wage gap in favour of women and help all workers by increasing the amount of decent employment opportunities.  

The World Bank estimates that the implementation of AfCFTA will lead to an increase in wages by 10% with the largest gains accruing to women and unskilled labour.  

The economies of African countries’ are dominated by agriculture and the continent’s growth relies heavily on the performance of the…

Commonwealth along racial lines, but the body managed to forge a compromise at its Nigeria summit, appointing a seven-nation panel to monitor Zimbabwe’s progress towards improved democratic values.

President Emmerson Mnangagwa’s government applied on May 15, 2018, to re-join the grouping, a year after toppling Mugabe through a military coup.

According to an article by the Independent dated June 17, 2022, Scotland subsequently deployed a Commonwealth team led by Ghana’s former president John Dramani Mahama to observe Zimbabwe’s 2018 elections.

Zimbabwe’s Central Bank said the increase in its policy rate to 200 per cent from 80 per cent will take effect from July 1 after annual inflation hit almost 192 per cent this month.

The benchmark interest rate was last raised to 80 per cent in April from a previous 60 per cent.

“The committee noted that the increase in inflation was undermining consumer demand and confidence and that, if not controlled, it would reverse the significant economic gains achieved over the past two years,” central bank governor Dr. John Mangudya said.

The latest figures from the Zimbabwe National Statistics Agency (ZIMSTATS) showed Saturday that the country’s annual inflation rate reached 191 per cent in June. A new blow to the purchasing power of Zimbabweans, stoking fears of a return to the 2008 hyperinflation period where savings were wiped out.

Fossil Mines is reportedly owned by Obey Chimuka, according to 263Chat Business.

According to a publication by New Zimbabwe dated June 7, 2022, the disposal of Holcim’s Zimbabwean shareholding follows prior disposals of Holcim shareholding in the Northern Ireland, Zambian and Malawian markets amid plans that the group is in the process of disposing of its Indian cement business. The firm told Bloomberg that they are constantly evaluating possibilities to align their portfolio with a vision to open new growth opportunities.

On January 25, 2022, the group announced the intention to dispose of its 76.45 per cent shareholding in LACZ as part of its strategy to divest from the cement manufacturing business before inviting interested bidders to submit their expressions of interest to its Financial Advisors, ABSA Corporate and Investment Banking in South Africa.

Reliable and affordable telecom services have never been more vital to our national economic and social resilience. That is why,…