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Browsing: US-Africa economic relations
- The advent of BRICS Pay could further strengthen these ties, offering African nations an alternative to the dollar-dominated trade and financial systems.
- BRICS Pay is a bold step towards a more multipolar world economic order.
- Its impact on US-Africa trade will depend on various factors, including its adoption by businesses and financial institutions across the coalition of nations.
The launch of BRICS Pay, a digital payment platform developed by the BRICS nations (Brazil, Russia, India, China, and South Africa), marks a pivotal moment in international trade dynamics. This innovative system promises to streamline transactions among these emerging economies, potentially challenging the long-standing dominance of the US Dollar in global trade.
BRICS Pay is a testament to the growing influence of these five major emerging economies. By facilitating payments in local currencies, the system is poised to reduce reliance on the US Dollar, fostering a more diversified and resilient global …
The African Growth and Opportunity Act (AGOA) has played a pivotal role in the economic relations between the US and Africa. Since its enactment by the US Congress in 2000, Agoa has offered African nations preferential access to American markets, promoting trade and economic growth. In recent years, however, AGOA has become a focal point in the intensifying competition between the US and China for influence in Africa.…
- About 80 percent of trade in East Africa goes through Kenya’s Port of Mombasa.
- Kenya is a top destination for venture capital on the continent.
- Renewable sources account for the majority of Kenya’s on-grid electricity production.
The top American diplomat in Nairobi Meg Whitman is turning out to be one of the biggest marketers for Nairobi, calling for increased US investments in Kenya and across Africa.
Kenya and many economies in Africa have a significant number of relatively untapped industries. Emerging sectors such as technology, e-commerce, financial services, healthcare, and energy offer substantial potential for growth.
“When I was a CEO–I’ll be honest–I probably thought of Africa about 1 per cent of the time. Many of the businesses I managed were heavily invested elsewhere. But if I were back in the boardroom today, Africa would be on my radar for two simple reasons: supply chain diversification and net-zero emissions,” Ambassador …
