Browsing: Economic Commission for Africa

The African Continental Free Trade Area (AfCFTA) has presented a distinctive opportunity to bolster economic growth, alleviate poverty, and decrease Africa’s reliance on volatile commodity cycles. According to a World Bank report from 2020, the AfCFTA can increase the continent’s income by 7 per cent by 2035 and elevate around 40 million individuals out of extreme poverty. This positive impact is primarily attributed to the stimulation of intraregional trade, termed the “AfCFTA trade scenario” for this analysis.…

• Africa is at the center of global sustainability transitions such as decarbonization of production systems.
• The continent is also seeing electrification of transportation infrastructure and accelerated use of renewable energy.
• African Continent Free Trade Area (AfCFTA) is an opportunity to bridge the inequality and vulnerability gap while fostering recovery and transformation in Africa.

Africa – pummeled by a combination of crises – should swiftly invest in and implement people-centered strategies to mobilize financial resources and accelerate continental economic recovery, the Economic Commission for Africa now says.

Speaking during the opening of the ministerial segment of the 55th Session of ECA’s Conference of African Ministers of Finance, Planning and Economic Development, in Ethiopia, Executive Secretary Antonio Pedro said Africa was at the center of global sustainability transitions, such as decarbonization of production systems, electrification of transportation infrastructure and accelerated use of renewable energy, which he said should underpin its recovery from …

African Energy Chamber  (www.EnergyChamber.org) Executive Chairman NJ Ayuk will attend the Ninth Conference on Climate Change and Development in Africa (CCDA-IX) in Cabo Verde on the 13^th – 17^th of September 2021 where he will contribute to and drive a collaborative discussion on what a just energy transition looks like for Africa.

Focused on ensuring Africa’s climate change mitigation strategies coincide with, rather than restrict, Africa’s economic development, Ayuk will bring a valuable perspective to the conference.

Organized by the Economic Commission for Africa and the Government of Cabo Verde, with partners the African Union Commission, the Economic Commission for Africa and the African Development Bank, CCDA-IX will take place under the theme ‘Towards a just transition that delivers jobs, prosperity and climate resilience in Africa: leveraging the green and blue economy.’ The conference serves as a prelude to the Conference of Parties to the United …

To achieve sustainable development in Africa through the blue economy, the relationship between trade and development cannot be overemphasized.
The UNCTAD notes that trade has been recognized as the engine for inclusive sustainable development and growth with maritime transport and its related activities being motors for trade facilitation.…

More than half of the African countries have ratified the trade agreement with Nigeria, the biggest economy on the continent, being the latest to ratify.…

Ethiopia is incentivising investors developing minerals used in agriculture such and construction minerals.…

ATEX promises a platform that can help anchor AfCFTA.…

It is crucial for Africa to integrate its financial systems to create a mutualized system of financial stability that works for the continent or regional monetary cooperation as in East Asia.…

The reality is that many facilities cannot effectively run without electricity. …

Urban-based sectors of the economy are expected to be hit hard by covid-19 related effects, leading to substantial losses in productive jobs.…