Browsing: Trade

Africa and China have had an interesting relationship in the last decade with the Asian giant enthusing that the relationship with the world’s second-largest continent is based on mutual partnership and understanding. …

Africa, the continent of more than 1.3 billion people has experienced its share of the coronavirus (COVID-19), which shaved off crucial portions of the continent’s economy (tourism, trade and travel) leading to funding holes, debt burden and propelling unemployment and inequalities.  

There are several projections laid out benching on Africa’s economic trend. According to UN estimates, African countries have so far lost an estimated US$29 billion due to the pandemic.  

Meanwhile the United Nations Economic Commission for Africa (ECA) pinned its forecast noting the virus will shave 1.4 per cent off Africa’s $2.1 trillion GDP, hurting the continent’s business landscape. 

Despite the pandemic eviscerating this year’s plans of enhancing tourism and travel horizons for East Africa’s hotbed Tanzania and Kenya, the African Development Bank (AfDB) finds the region undeterred in the face of the pandemic , as it becomes …

Africa is great and has the potential to be greater—economically. The youngest continent in the world stands to garner billions in the trade as its youngest generation present a potential to transform, the continent’s economic pillars, from agriculture to investment.

The region has more than 1.3 people and nearly 60 per cent of its population is under 25 years, according to United Nations Data for World Population Prospects 2017. This means that Africa can fetch healthy intra-regional and international trade growth if it utilizes its existing potentials.

As the African Continental Free Trade Area (AfCFTA) is around the corner to be domesticated (postponed due to virus outbreak), the trade pact could ignite Africa’s industrialization and boost income generation.

The trade pact connects more than 1.3 billion Africans in 55 countries with a combined gross domestic product of nearly $ 3.4 trillion while lifting more than 30 million people from extreme …

Fair trade is a fairy tale that belongs in a children’s fiction book. Just think—a fair playing ground is what every mom and pop shop has been crying for, for years. Yet every waking day, their tears fall on deaf ears, they seem to constantly draw the short end of the stick while the competition always gets the better deal.

To unravel this unfair ‘fair trade’ mystery, you have to first understand who or what the competition is. What makes the playing ground so uneven and how do you tip things in favour of small business?

Did you catch that? To even the field, you have to favour one side. Let us bring things into perspective here. Small businesses are being boxed out of businesses by multi-national corporations. These monstrosities of strategized mergers feed on one thing: takeovers.

Either they buy you out or you will, sooner than later, close …

There is need to regulate the wage amount paid to labourers in Tanzania particularly in the construction industry  if the country is to reduce poverty levels and increase professionalism in the sector.

Last month I hired a Dar es Salaam based wage labourer to do some basic construction work for me. As he worked, we ventured into conversation deliberating the working conditions of wage labourers in the country.

‘Richie’ the only name he was willing to offer me, said his regular day starts before dawn.

“I have to wake up before the sun comes up,” he chuckles but maintains a somber look.

“You know, I live in the slums, so I have to get two buses to get to the site,” he continues after a moment of lamentation.  According to Richie, as a wage labourer, his job is never guaranteed, as he put it; “at the site, …

South Africa’s trade and industry deputy minister Nomalungelo Gina and Tunisian secretary of state for foreign affairs Sabri Bachtoji have committed to strengthening bilateral economic relations in order to increase trade and investment between their two countries, the government said on Wednesday.

During a meeting in Pretoria, the two emphasised the need to establish a framework and create a conducive environment for the two countries’ business communities to work together.

“Our countries have enjoyed historically strong political ties but it is incumbent upon us to strengthen our economic ties and increase economic cooperation between our countries,” Bachtoji said.

“As the government, we need to work together in setting up a framework and creating an environment that will encourage our business communities to explore the economic opportunities that are available in both countries.”

He said a number of sectors in the Tunisian economy were teeming with opportunities that South African companies …

A group of 25 South African business people was in high spirits ahead of their departure to Kampala, Uganda, to explore trade and investment opportunities in the agro-processing, capital equipment, energy and furniture sectors in the East African country.

This is according to the Department of Trade and Industry (dti) who said in a statement on Friday that the delegation will participate in the Outward Trade and Investment Mission to Kampala from 19-24 May.

According to the Minister of Trade and Industry, Dr. Rob Davies, the main objective of the mission is to increase bilateral trade and investment between South Africa and Uganda.

“The mission will also introduce South African exporters to the Ugandan market with the aim of assisting them to gain entry into this market, identify trade and investment opportunities, and generate export sales. It will also contribute positively in strengthening bilateral economic relations between South Africa,” said …

The Tanzanian government has pledged continued support to Chinese investments at the 2019 Tanzania-China High-level Investment and Business Environment Dialogue in the commercial capital Dar es Salaam on April 17, 2019.

The Minister of State in the Prime Minister’s Office responsible for Investment, Angellah Kairuki, said Chinese investment has had and will continue to play an important role in helping us reach our goal of attaining a middle-income country status by 2025.

She said as the two countries marked 55 years of diplomatic relations this year, Tanzania was committed to continuing working closely with China, particularly through mechanisms within the Forum on China-Africa Cooperation that promotes government and private investments. However, it is unavoidable that some misunderstandings may occur in the rapidly growing and wide-ranging economic relations and trade, she told the event.

“Even so, it is my sincere belief that cooperation and common development will continue to represent the …

Sub-Saharan Africa’s economic growth slowed to 2.3 per cent in 2018 from 2.5 per cent in 2017, remaining below population growth for the fourth consecutive year, the World Bank has said.

In the April 2019 issue of Africa’s Pulse, its bi-annual analysis of the state of African economies published on Monday, the bank said regional growth was expected to recover to 2.8 per cent in 2019, staying below three per cent as it has been since 2015.

The slow growth reflects ongoing global uncertainty but increasingly comes from domestic macroeconomic instability including poorly managed debt, inflation, and deficits; political and regulatory uncertainty; and fragility that is having visible negative impacts on some African economies.

It also belies stronger performance in several smaller economies that continue to grow steadily, the bank said.

It noted that Nigeria’s growth rose to 1.9 per cent in 2018 from 0.8 per cent in 2017, reflecting …