Browsing: government

This shortage of hard currency implies that those businesses that rely on foreign exchange have often had to source it from the parallel market, where it is easily available relative to the formal market.

To mitigate the inflationary pressures caused by businesses looking for foreign exchange on the parallel market and passing on the effect of higher exchange rates to consumers in the form of higher prices, the central bank instituted the foreign currency auction system, which allocates foreign exchange to importers.

This foreign exchange shortage affects all businesses across the economic spectrum and is not limited to retailers only. Manufacturing companies import raw materials and spares. They have recently experienced viability challenges from charging prices in local currency.…

Stakeholders of agriculture on the continent have urged governments to work with the private sector to build resillient food systems to bridge the widening gap in production.

Speaking during the Alliance for a Green Revoluton in Africa (AGRA)  organized Africa Green Revolution Forum (AGRF) Summit last week, speakers reiterated that food security cannot be achieved without a gvernment facilitated enabling environemnt for agribusiness to thrive. 

The summit was held ahead AGRF ,  slated for September in Nairobi, where   leaders, while celebrating the milestones the agriculture sector has made over the years, called on enhanced collaboration in transforming the continent’s food systems  amid rising concerns over global food shortages owing to increasing population, shrinking land and climate change.

“As we look at innovative ways of producing food to feed our people, assist our farmers and bolsters agribusinesses, we must explore ways of working together to actualize this commitment. The partnership between …

However, long-term trends, assessed in decades rather than years, demonstrate that African countries are becoming increasingly appealing as investment locations. All of this is taking place in the world’s last demographic dividend region: Sub-Saharan Africa will soon be the only place on the planet with birth rates at or above replacement level. Telecommunications platforms, agribusiness, and energy are all emerging as new value chains.
However, the shift away from extractive sectors isn’t solely due to improved investment climates in Sub-Saharan Africa – extractives, for example, account for a lesser portion of total investment, but the rate fluctuates in reaction to oil prices. Other countries in the Global South have advanced, resulting in increased labour costs and mature consumer markets, implying reduced long-term profits.…