African Trade Ministers Urge the United States to Relook the Terms of AGOA
African trade ministers are urging the United States to overhaul the sweeping trade deal that has opened the US market to African products and renew it this year rather than waiting until the duty-free pact expires in 2025. Renewing the African Growth and Opportunity Act AGOA immediately would remove uncertainty about the future of the […]
Nigeria’s Plans to Boost Food Supply to Reduce Inflation
President Bola Tinubu declared a state of emergency that will allow the government to take exceptional steps to improve food security and supply, as surging prices cause widespread hardship. The move will trigger a range of measures, including clearing forests for farmland to increase agricultural output and ease food inflation, Dele Alake, a spokesman for […]
Egypt Ranks First as Africa’s Leading Investment Destination
South African Rand Merchant Bank (RMB) released its list of top 10 investment attractive countries in Africa, aimed at investors targeting real assets in an economy or looking to expand businesses that rely on physical infrastructure. Historically, investment destinations in Africa have been ranked based on the tenets of economic activity and business operating environment. […]
Is the DRC’s Hydro Potential South Africa’s Saving Grace?
The planned Grand Inga hydropower scheme lies more than 2,000km north of South Africa’s borders. But President Cyril Ramaphosa of South Africa and his Congolese counterpart Félix Tshisekedi held talks in Kinshasa last week on reviving the project, which has lain dormant for many years. Under the Grand Inga scheme, several new hydropower projects would […]
Mali’s Military-led Government in Talks with Gold Miners over Proposed Changes to its Mining Law
This could see it boost state and private Malian interests in new projects to 35%, from up to 20% today, according to a draft of the new code seen by Reuters. The government announced the review of the mining code in January after it said an internal audit had shown that Mali, one of Africa’s […]
A Breakthrough between Cairo and Addis Ababa over Grand Hydro Dam
Egypt and Ethiopia have agreed to finalise a deal over Ethiopia’s controversial mega-dam on the Blue Nile within four months. They agreed “to initiate expedited negotiations to finalise the agreement between Egypt, Ethiopia and Sudan on the filling” of the dam and its operation within four months, the statement said. The two leaders met on […]
Tech Startups in Africa are Leveraging the Booming Cosmetics Industry
The African market is one of the most lucrative for beauty businesses. According to Statista, the beauty industry currently increases between 8% and 10% per year against a global market growth rate of 4%. At this rate, Africa’s beauty market is projected to be worth $77.81bn by 2028. This vast potential is a result of […]
Sub-Saharan African Currencies are on a Downward Spiral against the USD this Year
Interest rate hikes in the US — which is driving away investors in pursuit of higher returns toward US assets — and weak demand for African exports amid global recession worries have been dragging down African currencies. Local citizens are decrying higher prices of imported goods leading to high costs of living while importers are […]
These 10 Southern African Fintech Startups Wowed the World Bank
Ten Southern African startups have received awards for their solutions to bridge the gap in financial access for underserved communities as part of a challenge supported by the World Bank. The Fintech Challenge was part of the ecosystem development initiatives under the Southern Africa Innovation Bridge Portal supported by the World Bank to crowd-source new […]
Ghana has Struggled to Design Policies Aligned to Available Data
According to the Ghana Statistical Service, the country’s population will double within 33 years. And by 2050, the population of Ghana will be over 50 million. Population growth implies boundless opportunities for economic and social development. But it also presents significant challenges and barriers to sustainable development, where economic and environmental resources cannot match population […]
