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• Kenya-DRC and Tanzania-DRC Corridors have been identified as the key links that will drive East Africa trade.
• Within the Southern Africa region, higher integration will drive its share of total intra-Africa exports to a third by 2035.
• The MENA Region and the Middle East-East Africa corridors will also be substantial, with combined trade volume expected to reach almost USD200 billion by 2035.

Increased infrastructure interconnectivity by the African states has been identified as the key driver that will lead to success of the African Continental Free Trade Area (AfCFTA). Kenya-DRC and Tanzania-DRC Corridors have been identified as the key links that will drive East Africa trade.

This comes after members after some member states expressed concern that the African trade system has failed to grow beyond the estimated 14–15 per cent over the last three to four years.

However, prospects are now positive that intra-Africa trade will grow 3.9 per …

• The ongoing conflict in the Gaza Strip, Palestine, is threatening to impose a new burden on food security systems in Africa.
• African economies find themselves compelled to choose sides between Israel and Palestine carefully.
• However, our analysis indicates that Africa faces a no-win situation when dealing with instability and the worsening conflict in the Gaza Strip.

The aftermath of the Israel-Hamas war is having devastating effects on Africa’s economic and political spheres, with food inflation being the first tangible negative impact.

As African economies are still recovering from the effects of the global COVID-19 lockdown and grappling with the consequences of the Russia-Ukraine war, the Israel-Hamas war is further destabilizing fragile food security systems in the continent.

The disruption in trade is attributed to new security challenges and what economists describe as investors opting for a “flight to safety.” These investor actions are strengthening the US dollar and causing …

• Ongoing China’s real estate crash is causing a ripple effect in the steel industry.
• Market prices for steel have fallen sharply in Asia amid the flood of Chinese exports.
• At the same time, Sub-Saharan Africa metal exports are relying on anti-dumping laws to stay afloat.

China’s real estate bubble has busted and with it caused a global ripple in the metal markets and especially the Asian economic giant’s steel exports business.

Stanislav Zinchenko the CEO of GMK Center notes that China’s investments in the real estate and construction sector in general, which are the largest consumers of steel, fell by 7.2 per cent between January and May of last year.

The first effect of the real estate crash has been the drop in demand for steel products. With the fall in domestic demand for steel, China has turned to the new frontiers to drive steel exports.

The result of …

• Kenyan Shilling, which has been on a free-fall against the Dollar since mid-last year, fell to a record-low of 162 to the greenback with projections it could tumble further into the year.
• The unit has shed over 31 per cent of its value to the dollar year-to-date, as the Fed rate hikes in the US took a toll on currencies across the different markets.
• According to Kenya National Bureau of Statistics (KNBS), the Kenyan shilling also ceded ground against the Euro, Pound Sterling and the Japanese Yen.

The Kenyan government is facing a major headache as the country’s currency continues to fall against the US Dollar and other major currencies, hitting a new low this week.

Kenyan shilling, which has been on a free-fall against the dollar since mid-last year, fell to a record-low of 162 to the greenback with projections it could tumble even further this year.

The local …

• Uganda has moved to the East African Court of Justice (EACJ) over alleged Kenya’s move to block it from importing its refined petroleum products.
• In 2016, Uganda opted to work with Tanzania to develop a pipeline to evacuate crude oil from its fields in Hoima, western Uganda.
• This dealt a blow to an initial plan to jointly construct a 1,500-kilometre-long pipeline from oil-rich Hoima to Kenya’s Lamu port, a project envisioned to cost about $2.5 billion.

Kenya’s fallout with Uganda on importing refined petroleum products has caused another rift between the neighbouring countries, threatening trade and bilateral relations.

On December 28, last year, Kampala lodged a case at the East African Court of Justice (EACJ) against Nairobi for blocking its plans to shift from purchasing petroleum products from Kenya to importing consignments.

Over the year, Oil Marketing Companies (OMCs) in Uganda have picked imports from Kenya Pipeline’s depots in Eldoret …

• After nearly a century, Shell has decided to exit Nigeria’s oil and gas sector.
• Shell has faced persistent challenges over the years, grappling with numerous onshore oil spills caused by theft, sabotage, and operational difficulties.
• In December 2022, Shell agreed to pay $15.9 million in damages to communities in Nigeria’s Niger Delta impacted by numerous oil leaks.

After nearly a century, Shell has decided to exit the Nigerian oil and gas sector. The British multinational is selling Shell Petroleum Development Company of Nigeria Limited (SPDC), the entity that owns onshore oil assets in the nation’s Niger Delta region.

As fate would have it, Shell is selling SPDC to the Renaissance consortium, an alliance of ND Western, Aradel Holdings Plc, First E&P, the Waltersmith Group, Petroleum Development Company Limited and Petrolin.

This deal, reported at a value of $1.3 billion, with further payments of up to $1.1 billion, could offer local …

• Zimbabwe earned US$209 million from lithium exports in the first nine months of 2023.
• The country’s lithium potential has captured significant attention, particularly from Chinese investors who have injected over US$1 billion in the mineral’s value chain.
• Lithium is a critical component in the production of electric vehicle (EV) batteries. Global electric vehicle (EV) car sales increased by 60 per cent in 2022, reports the International Energy Agency.

Zimbabwe is emerging as a pivotal player in satisfying the surging demand for lithium, a vital element used in the production of electric vehicle (EV) batteries. Zimbabwe has the largest lithium reserves and mines in Africa, while globally the country ranks high amongst the leading lithium producing and supply countries after Chile, Australia, China, Argentina and Brazil.

According to an article by Reuters published on November 1, 2023, Lithium is set to become Zimbabwe’s third biggest mineral export after gold and …

• With untapped potential in private healthcare, skilled doctors, and a growing interest in medical care, South Africa is making its mark in providing top-notch healthcare services.
• Only 297 people came to South Africa for medical reasons in October 2023, less than 0.1 per cent of all visitors. Even though it seems small, it’s a sign that more people are choosing South Africa for specialized medical care.
• Medical tourism refers to travelling abroad for medical care or treatments not available at home or which are more expensive there than elsewhere.

South Africa is becoming a popular choice for people seeking medical treatment, not just for vacations. The South African medical industry has pioneered many ground-breaking surgeries and medical research, including the world’s first heart transplant and more recently, the world’s first middle-ear bone transplant using 3D printed components. The Southern African Development Community (SADC) recognizes the country for its excellent healthcare, …

• CBZ Holdings, FBC Holdings, and ZB Financial Holdings have all played a pivotal role in shaping Zimbabwe’s banking sector this year.
• One of the most notable transactions in 2023 involves CBZ’s acquisition of a 36.35 per cent stake in First Mutual Holdings Limited.
• 2023 saw FBC Holdings execute a strategic move by acquiring Standard Chartered Bank Zimbabwe Limited. 

This year has proven to be a transformative period for Zimbabwe’s banking sector, witnessing significant acquisitions that have reshaped the landscape. In particular, three major players, CBZ Holdings Limited (CBZ), FBC Holdings Limited (FBC), and ZB Financial Holdings (ZB), have played a pivotal role in these developments.

These acquisitions signify a dynamic shift in Zimbabwe’s banking sector, with key players strategically positioning themselves for growth and market dominance.

Acquisitions shaping Zimbabwe’s banking sector

One of the most notable transactions in 2023 involves CBZ’s acquisition of a 36.35 per cent stake in First …

• Artificial Intelligence (AI) is emerging as a key player in transforming South Africa’s labour market and empowering its youth population.
• Initiatives focused on AI education and skill development can equip the youth with the competencies necessary for the evolving job market.
• This ensures that they are well-prepared for the increasing integration of AI technologies across various industries.

Africa is home to the world’s youngest population, but unfortunately, 60 per cent of the continent’s unemployed are youth, as highlighted by the United Nations. This trend is mirrored in South Africa, despite the government’s efforts, such as allocating R5.2 billion in tax relief in the 2022 National Budget to spur economic recovery and encourage youth employment.

The impact of the COVID-19 pandemic has been acutely felt in South Africa’s labour market. According to Labour market dynamics in South Africa 2022 report published by Statistics South Africa, stringent containment measures resulted in a …