Browsing: African Union

Region economic communities such as East African Community (EAC) are opening doors for citizens to expand their hands across various…

AGOA has been a cornerstone of the U.S trade policy in Sub-Saharan Africa since the year 2000. The non-reciprocal trade…

One of the few spoken regional trade blocs of Africa is the Economic Community of Central African States (ECCAS). Despite…

Should a common currency in the EAC come to fruition, the trade will be fueled by a reduction, albeit limited,…

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.

Recent economic growth and development within Southern and Eastern Africa have created positive opportunities to expand water transportation services. Owing to the impressive growth of the East African economy, where countries like Tanzania and Ethiopia have experienced remarkable growth rates higher than the regional and continental levels, there is a prospect for expanding cargo traffic. A few of the sub-regions ports are experiencing capacity constraints and congestion.

The current large-scale transition of the global economy, principally triggered by the current conflict between Ukraine and Russia as well as the standoff between China and the United States, creates a multipolar world map with new centres of power.

Brazil, Russia, India, China, and South Africa, also known as the BRICS nations, have enhanced industrial and financial might and are pushing for a seat at the global new power axis table. These nations are essential participants in international markets for products, services, and money, having a considerable, sometimes decisive, effect on how the global economy operates.

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

It is not easy to create a common currency since it needs the creation of a central monetary system for…

In practical reality, it aims at creating a continental market for goods and services, with free movement of businesspeople and investments in Africa.

Several reports indicate that the summit strives to bring Africa and Europe closer together through strengthening economic cooperation and promoting sustainable development, with both continents co-existing in peace, security, democracy, prosperity, solidarity and human dignity.

It is against this backdrop that the two partners are determined to work together on a strategic, long-term footing to develop a shared vision for EU-Africa relations in a globalized world.