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Browsing: African economies
- Central banks across Africa weighing interest rates in the next three weeks are poised to lower them, cautious that the opportunity to ease further may dissipate after President Trump formally assumes office.
- The Trump presidency is anticipated to strengthen the dollar further, primarily due to his commitment to significantly raising tariffs on imported goods.
- A new wave of inflation, driven by the strengthening dollar from the Trump effect, would exacerbate the already high inflation rates in many African countries.
Donald Trump’s return to the Whitehouse sent the dollar surging against both G10 and emerging market currencies in a change that has potentially far-reaching macroeconomic repercussions for African nations.
As Trump’s victory became evident, the “Trump Trade” pushed 10-year Treasury yields up by 0.16 per cent to 4.44 per cent. Meanwhile, the dollar index, which measures the dollar’s performance against a basket of major currencies, saw its largest single-day increase since …
- Top government officials from across Africa have confirmed attendance at the Annual Investment Meeting (AIM Global 2023), the world’s leading investment platform.
- Two weeks from now, the officials will gather under one roof to uphold solidarity and develop economic relations among nations to ultimately achieve global prosperity.
- Among many other goals, AIM Global 2023 seeks to provide governments with access to a diverse demographic of audiences to promote investment opportunities in their respective countries. They will bring with them a wealth of experience and expertise in driving economic development that is both sustainable and inclusive.
Top government officials from across Africa have confirmed attendance of the Annual Investment Meeting (AIM Global 2023), the world’s leading investment platform where business leaders are set to exchange ideas on driving sustainable and inclusive business.
Two weeks from now, top officials will gather under one roof to uphold solidarity and develop economic relations among …
Until substantial reforms are implemented, and remittance flows channelled towards long-term economic prospects, the diaspora will continue to be a net negative for weak African economies. Africa cannot depend on exporting its brilliant people abroad to bring money home forever. Thus, governments must establish vibrant economies that appreciate the continent’s human capital and enable bright individuals to prosper.…
This year’s progress has been threatened by Russia’s invasion of Ukraine, which has caused a global economic shock that has hit Africa at a time when the government’s policy space to respond to it is small to nonexistent.…
The AfCFTA Agreement has been signed by 54 African nations thus far. Among them, 46 tariff proposals have been filed, including one by the Customs Union. Furthermore, 29 tariff proposals are technically validated for trade.
Under the Rules of Origin discussions, 87.7% of import tariffs have been settled, while phase two consultations on Investment, Intellectual Property Rights, Competition Policy, Women and Youth in Trade, and Digital Trade are underway.…
The most significant concern is Africa’s susceptibility to growing inflation in developed and developing economies, given the continent’s reliance on imports.…
The Ukraine invasion by Russia and the resulting conflict has created an economic vortex for the whole world.
Reports state that from the time the Ukraine invasion began at least 10 million people have been displaced from their homes creating a humanitarian crisis. The invasion is a cause for concern for African countries many of which have ties with Russia which lent them military support in their respective struggles for independence. Several of them like Zimbabwe abstained from voting against the Ukraine invasion out of fear of straining relations with Moscow.
The adverse effects of the Ukraine invasion stem from economic contagion resulting from globalization. Countries that were dependent on Ukraine and Russia for their exports will record lower exports and subsequently lower income. Prior to its invasion Ukraine had been a hub for education at a higher level for African countries.
Post the Ukraine invasion prices of commodities and …