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In terms of foreign exchange reserves, according to HM Treasury, Britain has net official reserves of US$ 114 billion whereas it plans to embark on an economic plan to pull itself out of the stagflation quagmire by spending no less than US$ 173 billion dollars. If Britain were to use all its foreign exchange reserves to meet the cost of its economic plan it would run short of money and still have a deficit of US$ 59 billion dollars before fully implementing its plan.
Fair enough and granted, governments do not always have to spend cash that they have on hand. They can always borrow if they do not have sufficient cash to finance their operations.
Herein is the problem, the current economic environment does not support borrowing either by individuals, households, or governments. The cost of borrowing is just simply too high either by domestic debt or foreign debt. …
Queen Elizabeth II’s leadership of the Commonwealth for the past seven decades has remained admirable. She steered the institution’s evolution into a forum for effective multilateral engagement whose potential to drive tremendous socioeconomic progress remains incontestable and redounds to the Queen’s historic legacy.
Over the years, Britain’s interactions with its former colonies in Africa have grown to diplomacy, aid, trade and economic growth. The Queen has, over the years, remained highly revered and recognized as the head of the Commonwealth. The Queen has now rested. Her death breeds a wave of uncertainty about the future of the organization. The possibility of the status of the British monarch also disappearing becomes more visible. At this point, the rout of the British monarchy in Africa could be complete.…
The United Kingdom (UK) has played a key role in participating in commercial investments in Africa in major production areas with varying results.…
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Trade between the two countries has also suffered from the March 2020 Somalia ban of the importation of Miraa/khat from Kenya. This followed a decision by Kenya to stop issuing visas on arrival to Somalis.
But there could be a silver lining for traders from both countries since in August 2021, Somalia Prime Minister Mohamed Hussein Rooble assured that cross border trade between Kenya and Somalia would resume soon.
Prior to the announcement, Rooble held a closed-door meeting with Somali traders in Mombasa Wednesday. The meeting called for the strengthening of the diplomatic relationship between the two countries and the continuous collaboration in different sectors of the economy.…
Tanzania is no novice to sisal production, if anything, it is one of the world’s oldest sisal producing countries. Dating back to the late 19th century when the region was then known as the German East Africa Company, sisal was produced by the colonialists, at which time it was the German administration and later the British.
Reports state that sisal production was the colony’s largest export so much that at the time of independence in 1961, Tanzania was the largest exporter of Sisal in the world.
Now, almost 6 decades down the road, Tanzania is working on regaining the status. For one, a quick visit around the sprawling sisal farms that run for miles and miles with their pointed spikes reaching for the skies, one can tell, little to no upkeep is been done to these plantations.
So the government, in June, warned that it will revoke all undeveloped …