Browsing: Coronavirus

Rising in Africa

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.

Nations launched the AfCFTA as one of the actions made to support more extensive intra-African trade. The AfCFTA aspires to establish a unified continental market for goods and services. The agreement seeks to harmonise the continent’s various trade liberalization procedures and promote regional integration. Each African nation is a member of at least one of the continent’s approximately 30 bilateral or regional trade agreements.

Africa suffers from marginalization in the global trade system. Nevertheless, the African Regional Trade Agreements heralded a new age of economic integration with significant trade creation impacts. The path to free trade poses several significant obstacles and concerns that African governments must solve.

Stavros Nicolaou, a Senior Executive at Aspen Pharmacare Group said in the absence of orders or commitments, Aspen is considering the repurposing of two COVID-19 production lines for the manufacture of other products.

“The continent would lose its only existing COVID vaccine manufacturing capacity, It would be a massive setback for Africa’s plans to localize and reduce its dependency on imported vaccines,” he said.

John Nkengasong, director of the Africa Centres for Disease Control and Prevention, said global health security would be undermined if companies like Aspen were not backed.

That year, in 2015, Kenya, Rwanda, Uganda, and Tanzania settled for a three-year plan to phase out the importation of used clothes, a major exporter been the United States. To realise the intended ban, taxes were increased on second-hand clothes were increased effectively deterring their importation. The plan was to completely ban the import of second-hand clothes as of 2019.

This ambitious vision was never realized as the Trump administration issued an ultimatum for EAC to rescind the ban on second-hand clothes by 23 February 2018 or, as the DW writer Isaac Mugabi puts it ‘face the consequences.’