The Nigeria-Morocco Gas Pipeline is among the most notable investment projects through which Morocco hopes to help Africa achieve financial independence. This is according to Morocco’s King Mohammed VI. In a message delivered on his behalf by Minister of Economy and Finance Fouzi Lekjaa during the launch conference for the African Forum of Foreign Investors…
Global clean energy transition holds new promise for Africa’s economic and social development. Solar, renewables, critical minerals and green hydrogen will offer strong growth potential for Africa if managed well. This is according to Africa Energy Outlook 2022 special report from the International Energy Agency’s World Energy Outlook (IEA) “Today’s crippling spikes in energy prices…
African youths are the catalytic force that would propel the full realisation of the African Continental Free Trade Area (AfCFTA). This is according to the President of the African Export and Import Bank (Afreximbank), Prof. Okey Oramah during an opening address to the Afreximbank 2022 Annual Meetings in Cairo, Egypt. “A youth powered AfCFTA will…
Zambia has received $5.3 million from African Risk Capacity Group and African Development Bank to help in its recovery from extreme drought witnessed in 2021/2022 agricultural season. The payout which is the result of drought insurance taken out by the Government of Zambia under the Africa Disaster Risk Financing Programme Multi-Donor Trust Fund which is…
Africa’s private sector must be the engine of development strategies. This is according to Makhtar Diop , Managing Director, International Finance Corporation during the Africa CEO Forum held in Abidjan, Côte d’Ivoire. “The private sector is an essential element for the continent’s growth -so that growth is not simply punctuated by the evolution of the…
African businesses lose over $5 billion every year to charges, payments and other related costs to intra-African trade barriers. This is according to Mr. Mike Ogbalu, CEO Pan African Payment and Settlement System (PAPSS), Afreximbank at a meeting of the Nigerian American Chamber of Commerce (NACC) themed ‘1 year of AfCFTA (Opportunities, challenges and the…
Lamu Port – South Sudan-Ethiopia-Transport Corridor project (LAPSSET), a $29.24 billion transport and infrastructure project set to connect Kenya, South Sudan and Ethiopia will boost intra-Africa trade through AFCFTA. Many experts view this Corridor Project as a gateway to not only strengthening Kenya’s position as a gateway and a transport and logistics hub to the…
Not so long ago, different countries in Africa were well known for their vast food diversity but that has changed over the years. Back then, I remember in my 6th grade we used to study about, Zambia being among the largest producer of maize in the continent. However as of today, a lot has changed,…
The digital transformation of customs and borders in Africa could improve efficiencies in processes. Better administration at customs and borders could yield trade gains on the continent of $20 billion a year. This is according to a new report by the World Economic Forum dubbed Growing Intra-Africa Trade through Digital Transformation of customs and borders,…
Africa can have a piece of global trade through AFCFTA integration. Through the integration AFCFTA the continent can diversify in its trade and cut down the dependency of the East and West that is currently affecting the continent negatively. This is according to UNCTAD Secretary General Rebeca Grynspan. “The African continental Free Trade Agreement is…
Ethiopia seems to be on the final lap in the creation its securities exchange after its initial finalization announcements in 2020. The Ministry of Finance of Ethiopia, the new state enterprise Ethiopian Investment Holdings (EIH), and FSD Africa signed a cooperation agreement to establish the Ethiopia stock exchange(ESX). Fifty companies including insurance companies and banks, are…
Life might not be the same for families whose relatives are among the 8 miners trapped for over a month now, in Burkina Faso’s sole zinc mine. The miners who are stranded more than 700m underground following flash floods at the mine, are betting on the government’s response to rescue them. And although officials say…
Ghana is developing a policy to guide the scale up in production of Electric Vehicles. The policy dubbed E-Mobility when finalized is expected to guide in Ghana’s quest to have an environmentally friendly and sustainable transport system . This was made known by Ghana’s minister of Transport, Kwaku Ofori Asiamah in an address read on…
Reports on jet fuel scarcity have rocked the African continent over the last couple of weeks owing to Russia’s invasion in Ukraine. The pandemic had caused a major crisis for aviation and people in general and now with fuel prices having risen to record highs, things are not looking up. Some airlines like Nigeria have…
Not a day goes by without coming across stories on the impact climate change has on Africa and the globe, or catchphrases like climate action, green jobs, green economy, which have been trending social media platforms. While countries in Africa continue to recover from the ripple effects of the COVID-19 pandemic, talks on transition to…
Nigeria’s first deep sea port is set to open in the commercial capital of Lagos in September. The Lekki deep sea port has reached 89% completion and is set to transform Nigeria into an African hub for transshipment upon completion. “With this port, Nigeria will become a transshipment hub,” said the Information and culture Minister…
Cocoa farmers in Nigeria under the umbrella of Cocoa Farmers Association of Nigeria (CFAN), have vowed to increase the country’s cocoa production from the present 340,000MT to 500,000MT by 2024. In conjunction with other value chain stakeholders CFAN says it is committed to increase and build a sustainable high quality cocoa bean production among farmers…
Africa boasts of bustling cities that contribute to the global economy, where billions of dollars are made each year, from Nairobi Safari tours in Kenya to the huge tech hubs in Lagos, Nigeria. I have lived in Nairobi, otherwise known as the green city in the sun and for the past decade and oh my,…
The Pan-African Payment and Settlement System (PAPSS) operated by African Export-Import Bank (Afreximbank) in collaboration with the African Continental Free Trade Area (AfCFTA) Secretariat has announced the signing of a Memorandum of Understanding (MoU) with BUNA, the cross-border and multi-currency payment system owned by the Arab Monetary Fund (AMF). “The MoU with BUNA is another…
Trade relationship between Vietnam and Africa is yet to achieve its full potential in spite of its significant growth in recent years especially in the fashion industry. This is according to Le Hoang Tai, deputy director of the Vietnam Trade Promotion Agency (Vietrade). “Many African businesses and consumers are not even aware of Vietnamese fashion…