Trending
- African trade is growing despite the obstacles
- Why global capital is betting big on Africa’s digital promise
- Kenya posts stronger-than-expected Q1 growth at 5.3% on manufacturing rebound, tourism boom
- China’s new investment rules are about guardrails, not closed doors
- Zanzibar optimistic economic growth will hit 7.5% on tourism boom
- Kenya defies economic shocks to post record $22 billion in tax collections
- Forget South Africa: East Africa now rules in banking industry returns
- Lamu over Tanga: The commercial calculus that cost Tanzania $20bn refinery
Browsing: economy
The IMF counsels that successful debt stabilization requires measures to strengthen public finances and institutions, alongside pro-growth structural reforms and…
Across 54 African markets, Coca-Cola contributed $10.4 billion in economic activity across its value chain in 2024. The beverage giant’s…
Through various AfDB financing programmes across Africa, a total of 61M people have gained access to clean water since 2015.…
Research by the Economic Commission for Africa (ECA) shows that demand for critical minerals will drive the quest to decarbonize…
Reduced commodity prices will hamper Zimbabwe’s economic growth aspirations in 2024. Commodities produced by Zimbabwe include platinum, gold, and diamonds.…
In recent months, the discourse about de-dollarisation has gained momentum. The sanctions against Russia have exposed the danger of over-dependence on the US dollar in international trade. The recent foreign exchange challenges have also recharged the growing efforts to bolster other currencies.
De-dollarisation could soon become a reality. A BRICS substitute to the dollar could enjoy high prospects for success, a former White House adviser, Joseph Sullivan, has noted. Sullivan served as a staff economist at the White House Council of Economic Advisers during the Trump administration. According to him, a potential BRICS currency poses a unique threat to the dominance of the US dollar in international trade.
Zimbabwe’s banking and financial industry reflects the overall health of the economy. The country has broadly experienced capital flight and…
The New Tanzania Investment Act 2022 has now become law replacing the Tanzania Investment Act Cap 38 RE 2015 and…
Because of erratic economic policy, Zimbabwe continues to be the sick man of the Southern African Development Community (SADC) region.…
The continent in the near future will have the largest population in the world. The population of Africa is urbanizing as citizens of the nations of the continent migrate from rural to urban areas.
This addition to its vast natural resources is a potent combination for its rapid economic expansion. The world witnessed first-hand the economic miracle where China transformed itself from a rural backwater in 1949 when the modern Chinese state was founded to an economic and military superpower by 2019. The year 2019 is significant to China because the country celebrated 70 years of its founding as a communist state, and the Asian country gained worldwide recognition as a military superpower.
China put on a military parade that displayed a weapons arsenal that made the United States sit up and take notice. How was this possible? China’s economic transformation was because of several factors. One of the most important factors was and remains the rapid urbanization of its population, driven by the migration of millions of Chinese citizens from the rural areas to the booming metropolises. This urbanization increased the demand for natural resources and commodities needed to construct cities, roads, and infrastructure needed to support a rapidly expanding economy.