Browsing: WTO

• 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

Ghana is estimated to have produced about 812 thousand tonnes of cocoa beans in 2018/2019.…

While the African Continental Free Trade Area (AfCFTA) has become a reality, developing robust infrastructure is crucial to its operationalisation and success. 

For maximum benefit, member states to the trade agreement must be connected physically and digitally through hard infrastructure and connected in the harmonisation and coordination of processes through soft infrastructure. 

The pact connecting 1.3 billion people across the 55 African countries with a combined gross domestic product (GDP) valued at US$3.4 trillion faces huge challenges that need quick responses. These responses range from the dependence of African economies on commodity production and exports, the lack of diversification which has caused a mismatch between supply and demand, tariffs and non-tariff barriers (NTBs), inefficient transport infrastructure and poor trade logistics to high-security risk among others.…

AfCFTA must be an engine for growth as much as an engine for inclusion.…

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 …