Browsing: WTO

President William Ruto

Kenya amplifies dedollarisation call at Nairobi AfCFTA talks

Regional Markets
  • With tightening monetary policies globally, many African economies are struggling with falling forex reserves.
  • Low reserves have sent governments back to the drawing board strategising on how to survive future trends while balancing trade.
  • With this, leaders and policymakers in Africa are engaging in the de-dollarisation conversation.

Kenya has sent a strong message to economies in Africa on the need to accelerate dedollarisation of cross-border trade, further amplifying the global conversation on reducing reliance on the US dollar as the main mode of payment.

For over a decade, China and Russia have sought to drastically lower their usage of the US Dollar in what is commonly referred as “dedollarisation”.

This is in a move intended at shielding their economies from possible trade-limiting US sanctions. The strategy also reduces their exposure to adverse effects of US economic and monetary policy, while also asserting global economic leadership.

China, Russia slowly cutting dollar

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Hadija Jabiri

Agriculture as a vehicle for increasing women’s participation in global trade

Opinion

Recently, there has been a widespread recognition towards agriculture as an engine of growth and poverty reduction in developing countries.  Yet the sector keeps under performing in many parts of our continent and other developing countries.

Globally, women produce 50% of global food products and comprise, on average, 43% of the agricultural labour force in developing countries according to FAO statistics. In African countries, according to the UNDP, the economic and social discrimination against women actually costs Africa USD 105 billion a year or 6% of the continent’s annual Gross Domestic Product(GDP).

In Tanzania, agriculture is a principal source of income and livelihood for about 65% of the population contributing an estimated 30%to the GDP. There is a greater participation of women than men in the sector split 81% and 73% respectively -the number increases to 98% for women in rural areas.

Many of the world’s poorest countries rely on …