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Browsing: Intra-African trade
- Every so often, Africa is being forced to choose sides between China, Russia, and the West.
- However, to win big, Africa must speak in one voice and trade as a unit in the new world order
- What’s more, Africa’s vas resource endowments can strengthen the continent’s resilience of its Transatlantic Alliance.
From friend-shoring brought about by COVID-19, then the Russia-Ukraine war, and now escalations in conflict in the Gaza strip, a new world order is taking shape, and Africa must align itself.
The big question for Africa is who to ally with and who to forego. Alignments with China are almost unavoidable, yet they place African economies at loggerheads with the West. While support for Israel pays off, it turns African countries into easy targets for the increasingly complex terror networks taking root on the continent.
Then there is the need to diversify sources of food and fertilizer imports, and …
- About 130 countries participated in IATF2023, which attracted 1,939 exhibitors and 28,282 participants who attended physically and through the IATF virtual platform.
- The sheer scale of IATF2023 reflects a shared commitment to fostering economic integration and development on the continent.
- The next edition of the IATF will be hosted in 2025 by Algeria.
The African Export-Import Bank (Afreximbank) has announced that the third Intra-African Trade Fair (IATF2023) held in Cairo from 9 to 15 November witnessed the conclusion of business deals and transactions valued at US$43.8 billion.
IATF2023 brought together representatives from 130 countries, fostering collaboration and partnership in diverse sectors. With 1,939 exhibitors and 28,282 participants attending physically and through the IATF virtual platform, the trade fair emerged as a pivotal platform for connecting businesses across borders.
In a comprehensive breakdown, the organisers revealed that the concluded deals spanned 21 sectors and involved 52 countries. This extensive …
The African Continental Free Trade Area (AfCFTA) is now widely touted as the African Union’s (AU) most audacious project. The framework ties together the most significant number of member countries of any trade agreement since the World Trade Organisation (WTO) in 1995.
The AfCFTA had become topical even before its formal launch. Members of the business community eagerly awaited the full implementation of the AfCFTA. But two years since its formal launch, how far has the AfCFTA ushered in the ‘new era’ of African integration it promised?…
There appears to be a consensus that the world is finally turning its back on the US dollar. There are simmering shifts within the global monetary system. The shift becomes ever more apparent, best described as de-dollarisation.
The world is searching for alternatives to the US dollar, finding them more often. Thus, moving away from the dollar can no longer be stopped. For instance, early this year, Indonesia reiterated it would promote local currency settlement (LCS) in cross-border trade and investment to reduce dependence on the US dollar.…
Africa remains one of the regions with the greatest growth potential in the world with African organisations focusing their growth strategies beyond borders. With these growth strategies come complex new risks which demand sophisticated cross-border insurance solutions. Doing business between different African countries means that all involved need comprehensive cross-border insurance, as this can protect operations by covering all potential risks that may arise between different legal frameworks. DLA Piper’s Luc Bigel and Hamza Akli share insight on Africa’s challenges in this regard and how to structure an efficient, cost-effective insurance programme for cross border risks.
What are the main challenges to trade in Africa, particularly with regard to potential business loss?
We believe there are two main challenges, depending on the situation in which the investor or partner finds themselves. The first is that of solvency. Indeed, in many African countries there is an obligation to use local players …