Browsing: Migration

Youths in Djibouti. Migration has many advantages to Africa's economy which is now recovering, or dealing with the aftermath of the Covid-19 pandemic.

Because emigrants bring with them more than just economic needs from their home countries, migration is a trade stimulant in and of itself. With this movement, there is increased demand for housing, food, transportation and other services which are beneficial to local economies. 

In addition, migrants can serve as bridges to a wider market because they promote trade and tourism in their home countries, thereby creating demand. 

The diaspora population’s needs can be met if the African economy is stimulated by the trade-in African heritage. While there are many reasons for migration, one of the most important is joblessness, both within Africa and to other parts of the world. …

World bank Twitter post

Since the advancement of the standard of living, most parts of the world have experienced a relatively rapid population growth than ever before which can be hugely beneficial for economic development if utilized strategically.  

Population growth is rapidly occurring in Africa, with Tanzania now hosting more than 59 million people in its vast, arable and mineral-rich land. This increase puts the East African country, which ascended last year to a low-middle-income status, in a much more advantageous position to move forward or experience a decline. 

The World Bank (WB) – one of Africa’s (and Tanzania’s) close development partner argues that Africa’s population is rising rapidly and will likely double by 2050. 

 READ:It’s a jumbo task as elephant population in Africa soars

“Africa will soon pass one billion people (it may already have) and could reach up to two billion people by 2050. This makes it the fastest-growing continent, and

Opening up Africa will create opportunities but this has to be driven by the free movement of people.

AfCFTA Secretary General Wamkele Mene notes that a uniform payments platform will eliminate the costly process on converting currencies which contributes to the inefficient trade patterns on the continent.

In addition to this good news, the Covid-19 pandemic was a silver lining for Africa’s integration since the continent has to create its own solutions to its problems. As such, Africa needs not only to harmonise its financial systems but also step up productive and infrastructural integration.…

angola free trade zones e1604131241264

further africa

On October 12th, Law no. 35/20 – the Free Trade Zones Law (“FTZL”) – was passed. The FTZL has established benefits to be conceded to investors by the Angolan Government, aiming at attracting foreign investment in Angola thus creating economic growth.

All types of investment are permitted in the Free Zones, specifically investment in agriculture, industry (that use Angolan raw materials and are focused on exportation) and technology. Specific aspects pertaining the access to Free Zones (such as monetary requirements, number of jobs created, investments in fixed assets) shall be determined in the investment contract.

Access to the Free Zones is permitted to companies, joint ventures, groups of companies or any other form of companies’ representation, whose scope meets the purpose of the Free Zones.

The investments made in Free Zones must take into account environmental protection interests.

Activities to be developed in the Free Zones
In the Free Zones …