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Ghana competes in the global economy primarily using natural resources. Other than the usual exports of cocoa, gold, lumber, and crude oil, Ghana has a competitive advantage in numerous product categories. Increasing the proportion of high-income commodities in the export basket hastens economic transition.
The opportunity is providing better, economically advantageous items to regional and worldwide markets. Cocoa processing, wood processing, aluminium products, palm oil, food and agro-processing, and fish processing are examples of manufacturing sub-sectors that fit these two requirements.
Manufacturing subsectors that capture considerable proportions of manufacturing value-added, such as food and drinks, chemicals, and textiles, have significant technology, knowledge, and skills inherent in them. These assets can be used to produce additional goods within the sub-sector or even outside of it. It is also easier to go up the value chain after you have mastered relevant technologies and markets.…
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IPv4 was the first version of IP to be used, and despite having been officially released in 1983, it is still the most widely used version to identify devices on a given network.
According to the CA report, with the imminent exhaustion of IPv4 address space, the length of IP addresses was increased from 32 bits to 128 bits, creating almost 340 undecillion addresses. The two address sets are not compatible, implying data sent using IPv4 address cannot be delivered to a recipient using IPv6 addresses.
The IPv6 was developed and standardized, as the next-generation Internet Protocol in 1996, with initial assignments for use in 1999, had the main goal of massively increasing the number of IP addresses available. Over the past year, major content providers and access networks have started offering IPv6 services to ordinary Internet users.…
President of Dangote Group, Aliko Dangote in his speech described the new plant as a game changer, as it can make Nigeria self-sufficient in fertilizer production, with spare capacity to export to other markets in Africa and the rest of the world.
While Dangote’s initial export targets were primarily Africa, current market realities mean there is increasing demand from outside the continent. Orders have come from far-flung places in the US, Brazil, Mexico, India, and the EU according to an article by African Business published on May 5, 2022.
According to the World Bank, the proximity of the new fertilizer plant offers a critical window of opportunity for Benin policymakers and the private sector to engage their Nigerian counterparts within the frameworks of the Economic Community of African States (ECOWAS), the African Continental Free Trade Agreement (AfCFTA) and other bilateral agreements to source fertilizer inputs for its farming population to…
If fully implemented, AfCFTA could speed up wage growth for women and lift 30 million people out of extreme poverty by 2035, the World Bank report has found.
An article by Namibia Economist, dated July 29, 2022, suggests that achieving these gains will be particularly important given the economic damage caused by the COVID-19 pandemic, which is expected to cause up to US$79 billion in output losses in Africa from 2020.
- Real income gains from full implementation of the AfCFTA agreement could increase by 7 per cent, or nearly US$450 billion by 2035.
- AfCFTA would significantly boost African trade, particularly intra-regional trade in manufacturing.
- Manufacturing exports would gain the most, 62 per cent overall, with intra-Africa trade increasing by 110 per cent and exports to the rest of the world rising by 46 per cent.
COVID-19 has caused major disruptions to trade across the continent, including critical goods such as…
There are increasingly more and more ‘outbreaks’ of non-communicable diseases in Africa and more so in sub-Saharan Africa.
These lifestyle ailments are ironically a symbol of increasing income among the population. As more and more African countries rise from low-income to middle-income status, statistics show a correlation with the rising number of people suffering from non-communicable diseases.
The reason is simple; when you rise in income, people do not increase their eating of the vitamin-rich greens they used to eat when they could not afford unhealthy but yet prestigious red meat; no, they change their diet to gabble up the ‘rich man’ foods, unwittingly damaging their health.
A local paper puts it into perspective; ‘People’s eating habits are shifting from food rich in starchy staples, vegetables and fruits to a more westernized diet high in sugar, saturated fats and oils’ the recipe for non-communicable diseases.
The troubling fact is that …
The most significant concern is Africa’s susceptibility to growing inflation in developed and developing economies, given the continent’s reliance on imports.…
Infrastructure development continues to be a vital driver of foreign direct investment (FDI) since logistics are so necessary for global business development, mainly e-commerce, which is now a significant generator of income and jobs at home and abroad.…
The widespread adoption of information and communication technology (ICT) by manufacturing companies the world-over is driving competition and permanently disrupting the playing fields.
According to an article by Cision PRNewswire published on May 11, 2022, the competition for a strong manufacturing industry is a global one, and initiatives to promote and advance manufacturing from other governments include Germany's "Industrie 4.0", France's "Industrie du Futur," and China's "Made in China 2025".
Japan has planned Society 5.0 (Industry 4.0), targeting its economic and social challenges, such as an aging population, labor shortages, and weak growth through advanced technologies. Germany Industrie 4.0 Initiative aims to create an industry infrastructure fit for sustainable future manufacturing in the country.
Recently, African countries have made promising progress towards industrialization, exhibited in the continent’s strategic framework for leveraging the pan-African drive for achieving inclusive and sustainable development, Agenda 2063.
However, the continent has faced unprecedented disruption over…
Africans and African diaspora across the world commemorated Africa Day on May 25, 2022.
The day truly serves to integrate the diverse continent into one identity. This year bears extra importance as it is also the 20th anniversary of the African Union (AU). The theme for this year was "Strengthening Resilience in Nutrition and Food Security on the African Continent".
Yet, the celebration was tarnished by rising food prices as a result of Covid-19, climate-induced drought in parts of Africa, and the Ukraine crisis, according to Hindustan Times.
According to an article by Hindustan Times published on June 17, 2022, Africa Day is to commemorate May 25, 1963, when 30 independent African leaders signed the founding charter of the OAU (Organization of African Unity). Later to give more impetus to the organisation, many new areas were added and it was transformed into African Union (AU).
Yearly, the AU decides a…
- Sub-Saharan Africa has seen the fastest increase in worldwide Internet penetration, from less than 1 per cent in 2000 to 30 per cent now. The use of the internet in Africa increased by 23 per cent between 2019 and 2021
- The Internet Society has been at the forefront of supporting the construction and growth of worldwide Internet penetration(IXPs), which permit and stimulate local traffic
- The Internet Society has assisted in the development of community networks in South Africa, Zimbabwe, Uganda, Nigeria, Kenya, Namibia, Senegal, Morocco Ethiopia. And the Democratic Republic of the Congo
As the Internet Society (ISOC), a global non-profit organisation that advocates for an open and globally linked Internet, celebrated its 30th anniversary, the organisation demands urgent action to advance Internet growth throughout the African region.
Dawit Bekele, the Africa Regional Vice President of the Internet Society, lauded stakeholders’ progress in expanding access across the continent while encouraging …