Browsing: Intra-African trade

The African continent takes pride in its rich natural resources. The continent boasts of a wide range of minerals, oil, gas, and wildlife among many other commodities. Most African economies are heavily dependent on these resources. Revenue for most is mainly commodity-driven for example, Botswana’s diamonds make up 90% of the country’s total exports. In Nigeria, oil accounts for more than 80% of exports and Zambia is reliant on its copper mines for 70% of its exports.  

In the majority of cases, African countries are net exporters of the raw commodity making them more vulnerable to the price shocks and changes in demand. Facilitating trade within Africa may be the roadmap to unlocking Africa’s economic potential.  

Also Read: All eyes on EAC border points as massive delays bite | KenTrade

Two of Africa’s largest trading partners, the US and China, have been dueling for world economic dominance. There …

The trade agreement aspires to create a tariff-free continent to grow local businesses, boost intra-African trade, spur industrialization and create more jobs.…

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 …

Central Africa remains one of the continent’s least integrated regions due mostly to an infrastructural deficit and several other barriers…

AfCFTA, when fully ratified, will cover more than 1.2 billion people with a combined GDP of USD2.5 trillion.…