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Browsing: Trade
The Gambia has a small economy that relies primarily on agriculture, tourism, and remittances for support. It remains heavily dependent on the agriculture sector. The Gambia can bank on these sectors for economic growth and to repay their debt.
Gambian agriculture has been characterized by subsistence production of food crops comprising cereals (early millet, late millet, maize, sorghum, rice), and semi-intensive cash crop production (groundnut, cotton, sesame, and horticulture). Farmers generally practice mixed farming, although crops account for a greater portion of the production.
Groundnuts are the traditional cash crop. The Gambia also exports produce to Europe; Gambian mangoes and other fruits may now be found on the shelves of the supermarket chains like Tesco and Sainsburys. The Gambia’s largest trade partner is Cote D’Ivoire, a fellow Economic Community of West African States (ECOWAS) member, from which The Gambia imports the majority of its fuel products. Other major trade partners…
The agreement was finalized during a visit to the NYSE by a South African delegation including JSE Group CEO Dr. Leila Fourie and South African Reserve Bank Governor Lesetja Kganyago. The signing ceremony took place shortly before the delegation rang the Closing Bell, followed by a keynote address by Kganyago on monetary policy.
“The New York Stock Exchange is pleased to sign this collaboration agreement with the Johannesburg Stock Exchange in support of the important economic and trade relationship between our two markets,” said Lynn Martin, NYSE president.
“Exploring the dual listings of companies on our two exchanges stands to increase opportunities for investors on both continents, underscoring the value public companies and our capital markets generate in the global economy. We look forward to collaborating on new product development with the JSE team and to the innovation that comes when two great organizations work together.”…
This year’s progress has been threatened by Russia’s invasion of Ukraine, which has caused a global economic shock that has hit Africa at a time when the government’s policy space to respond to it is small to nonexistent.…
As far as where to put money is concerned, Kenya has numerous investment sectors with tremendous potential. The prospective stability and economic recovery expected under the new administration will no doubt make way for the realization of huge money investments in the countries.…
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Recent economic growth and development within Southern and Eastern Africa have created positive opportunities to expand water transportation services. Owing to the impressive growth of the East African economy, where countries like Tanzania and Ethiopia have experienced remarkable growth rates higher than the regional and continental levels, there is a prospect for expanding cargo traffic. A few of the sub-regions ports are experiencing capacity constraints and congestion.…
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The major petroleum groups had long been reluctant to become involved in Chadian oil fields. The fields in the central/western and northern parts of the country were located in areas of chronic insecurity.
Then, an unprecedented arrangement was made. The World Bank agreed to finance using public funds. The pipeline would later allow the private operators Exxon, Chevron, and Petronas to transport their crude oil to the Cameroonian port of Kribi. This would enable shipping to European or American refineries, where the oil could be offered on the market at prices that the cost of the transport infrastructure would not burden.
Chad faces military challenges on most of its borders which should be factored as a risk. In the west, in the region of Lake Chad, the army has been fighting the Nigerian Islamist group Boko Haram since 2015. On the border with Sudan, Eastern Chad has seen conflicts between…
Kenya is benefiting from a shift in US foreign policy towards Africa as the global economic giant scales up its presence on the continent to counter rising Chinese influence. China has grown into Kenya’s biggest bilateral lender and source of imports, which grew 9.0 per cent to Sh227.9 billion and accounted for 18.2 per cent of the total import bill in the six-month period.
Kenya is among African nations benefiting from a U.S. shift in foreign policy as it scales up its presence on the continent. The U.S. trade office said the two countries are developing a road map of engagement in agriculture, digital trade, customs procedure and other areas.
However, according to an article by The East African dated September 24, 2022, American technology giants want the Biden administration to compel the Kenyan government to abolish the digital services tax (DST) as a condition for a new trade deal.…
The head of the Portuguese government was speaking in Maputo at a joint press conference with the President of the Republic of Mozambique, with whom he met as part of the 5th Luso-Mozambican Summit.
The Autorização de Residência para Actividades de Investimento – first introduced in 2012 and commonly known as the ‘Golden Visa’ – is a residence permit that provides qualifying non-EU / EEA / Swiss citizens and their families with full rights to live, work and study in Portugal.
According to The Portugal News, an alternative to the Golden Visa is the Portugal Passive Income Visa – also known as a D7 Visa – which provides residency status to non-EU / EEA / Swiss citizens, including retirees, who intend to relocate to Portugal and are in receipt of a reasonable and regular passive income. The D7 Visa is aimed at those who intend to live in Portugal, so …
Ruto’s bottom-up economics plan, as described in his manifesto, appealed to the electorate all over the country. The high cost of living and the rising commodity prices have mainly caused despair and hopelessness among those at the bottom of the economic pyramid.
Ruto’s promises, if realised, might give significant relief from poverty and insecurity, notwithstanding the current catastrophic drought, weak institutions, and worldwide economic instability.
Ruto’s victory is thrilling for the most vulnerable members of Kenyan society. Still, if the incoming president fails to deliver on his campaign promises, political confidence will be difficult to regain, and social unrest will likely occur in the long term.…
Economically the World Bank categorizes São Tomé and Príncipe as a lower middle-income state with what it calls a fragile economy.
This is not a mischaracterization as the country relies heavily on the tourism sector, making it much more susceptible to external and exogenous shocks. This assertion is confirmed by the African Development Bank, which reported in its economic outlook on São Tomé and Príncipe that the country’s economy shrank by an estimated 6.4% in 2020 after growing by 2.2% in 2018 and 1.3% in 2019.
Will Ghana’s stance on value addition resonate in Africa?
For the first time in a decade, the contraction in output is attributed to a sharp decline in tourism and service sectors, which were severely hurt by weak external and domestic demand and COVID–19 containment measures.…
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