Chinese President Xi Jinping has pledged to provide 1 billion COVID-19 vaccine doses to African countries and invest $10 billion across the next three years. The vaccine pledge was made during a speech via video link to the China-Africa summit in Dakar, Senegal, and it comes at a time when concerns are mounting over the…
COVID-19 did not just claim lives. It also coincided with the closure of businesses, large scale retrenchment and the closure of companies that were unable to operate during the lock-downs. However, one silver lining in all this gloom was the rise in entrepreneurship, driven primarily by innovative youths and women eager to make hay in…
COMESA Heads of State have urged member states to increase investment in research and innovation in the health sector to enhance socio-economic recovery of the region and generate more resilience against future disasters. In a communique issued at the end of the 21st COMESA Summit, the leaders noted the devastating socio-economic and cultural effects of the…
A newly released report by UNCTAD has outlined the role the African Continental Free Trade Area (AfCFTA) could play in boosting transport communication networks that will spur intra-African trade. Despite the similarities in languages and ethnicities, African countries seldom trade with each other. Policymakers hoped to change the status quo with the rolling out of…
The record rise of Tanzania’s forex reserves has sparked optimism among local economists over the country’s economic prospects. In the latest monthly economic review, the Bank of Tanzania (BoT) says that its foreign reserves have jumped to $6.7 billion up from $4.9 billion in September, marking a historic high for the East African country sailing…
Former Nigerian head of state Olusegun Obasanjo has urged policymakers to create a Made-in-Africa brand that will promote intra-African trade and boost the international exports of products made within the continent, Speaking during the third day of the Intra-African Trade Fair (IATF), Obasanjo told the audience that having a Made-in-Africa brand would instill a sense…
The pandemic has plunged economies around the world into an emerging recession of somewhat great and unknown depth, resulting from significant disruptions to international trade and commerce. Most countries went into partial or total lockdown, and travel bans were instituted which had an overall negative effects in shrinking the labor market. The economic fallout has…
The International Monetary Fund has declined Zimbabwe’s request for financial support and called for authorities to revamp the country’s unsustainable debt and outstanding official external arrears. The announcement follows a month-long mission to the southern African country that ran from October 16 to November 16 of 2021. IMF noted the significant efforts by President Emerson…
The COP26 summit started with much fan fare and ended with developing countries being bashed for not making enough commitments to the global climate agenda. South Africa, the region’s most developed country, received the most heat, alongside Brazil, India and China, for pushing for the words “coal to be phased out” be changed to “phased…