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Mining and manufacturing production rebounds (Freight News)
South Africa’s mining production has rebounded following a challenging start to the year. Statistics SA’s latest data released this week shows that mining activity improved by much more than expected in February, according to the Bureau for Economic Research’s (BER) Weekly Review. According to the data, mining production rose by a solid 9.9% year-on-year (y-o-y) from an upwardly revised 2.8% y-o-y.
Kenya diaspora remittances up 19pc in first quarter as inflationary pressure eases (The East African)
Kenyans living and working abroad sent home a total of $1.2 billion (Ksh158 billion) during the first three months of this year, marking an 18.8 percent jump from the inflows recorded during a similar period of 2023, on the back of easing inflationary pressure in developed economies. Data from the Central Bank of Kenya (CBK) shows that Kenyans abroad remitted $412.4 million (Ksh53.8 billion) back home in January—the highest in a month so far this year, followed by $407.8 million (Ksh53.2 billion) in March and $385.9 million (KshSh50.3 billion) for February.
Namibia sees final investment decision on oil find by end 2024 (Engineering News)
Namibia will invest a big chunk of any revenue it gets from a potentially massive oil discovery into a sovereign wealth fund, and expects to learn if the find is commercially viable later this year. “We understand that the quantities are large but we still have to test the commercial viability of this oil,” Finance Minister Ipumbu Shiimi told Bloomberg in an interview Tuesday in Washington. “We e
PetroSA targets Mozambique gas in new sales deal (Engineering News)
PetroSA expects the first flows of gas into the country from a deal with Mozambique's national energy company ENH later this year, officials said, amid efforts to shore up supplies ahead of a potentially crippling shortage. Handed a gas trading licence by regulators in March, state-owned oil and gas company PetroSA has moved quickly to secure a deal for an initial 2 petajoules of gas a year (PJ/a
Algeria signs Hosting Agreement for Intra-African Trade Fair 2025 (Afreximbank)
The Host Agreement Signing Ceremony for the Intra-African Trade Fair 2025 (IATF2025) took place in Algiers on 15 April 2024. The Ceremony, which was hosted by the African Export-Import Bank (Afreximbank), in collaboration with the African Union and the AfCFTA Secretariat, and the Government of the People’s Democratic Republic of Algeria, paves the way for the fourth editi
Commission reports on thirteenth negotiation round with five Eastern and Southern African countries to deepen existing EPA (European Commission)
As part of its transparency commitments, the Commission has published the report summarising progress made during the latest negotiation round to deepen the existing Economic Partnership Agreement (EPA) with five Eastern and Southern African partners (ESA5): Comoros, Madagascar, Mauritius, Seychelles and Zimbabwe.
Agricultural value chain offers many opportunities for women (Modern Ghana)
Prof Stanley Dary, Director of the Directorate of Community Outreach and Business Incubation at the Simon Diedong Dombo University of Business and Integrated Development Studies (SDD UBIDS), has said there are many opportunities that exist within the agricultural value chain that women can leverage to improve their socio-economic statuses. Prof Dary said this during the Kosmos Innovation Center (
While Africa continues to exhibit remarkable resilience against a series of shocks that it has not created, it is off track to meet the Sustainable Development Goals (SDGs).
Africa is the second fastest growing region in the world, but poverty and hunger have been rising over the past five years.
The vision of the AfCFTA is about progressively replacing the many small and fragmented national markets with a single continent-wide marketplace.
Whichever way we want to look at it, it makes more economic sense to have seamless trading in one big market than to deal with over 800 bilateral investment treaties.
When goods and services flow freely across borders, entrepreneurs take investment decisions with the knowledge that their products and services will be placed inside a single market of 1.4 billion people whose collective spending power is close to US$3 trillion.
To use a term coined by my friend and colleague, Ambassador Albert Muchanga, the African Union Commissioner for Economic Development, Trade, Tourism, Industry and Minerals:
I quote, “with the AfCFTA in place, Africa is every entrepreneur’s domestic market”. End quote.
Back in February 2013 in Tunis, in response to a journalist who had asked her how the African Development Bank Group differed from other institutions, Ellen Johnson-Sirleaf, then President of Liberia, replied, "simply the confidence it inspires. I can say without any hesitation that the Bank has played a decisive role in my country in the aftermath of the conflict. It gave us the confidence to believe that we could move on.”
Prudence, respect for principles, and the pursuit of tangible results are the major new guidelines of Africa's leading development finance institution, which has supported more than 5000 projects in its 60 years. Today, integration projects remain its trademark. One such project dates to 2012, when the Bank facilitated talks between Zambia, Botswana and Zimbabwe, leading to the construction of the Kazungula Bridge over the Zambezi River. The Bank also opened the way to building the Senegambia Bridge, which opened in 2019. Now, the Bank is financing the ongoing construction of the Rosso Bridge over the River Senegal linking Senegal to Mauritania, as well as the Trans-Saharan Highway currently being completed between Algeria and Nigeria.
Egypt to host 21st COMESA Summit (Atab News PK)
Saudi Arabia is set to witness the development of new luxury resorts as the Tourism Development Fund signed a memorandum of understanding with Karisma Hotels and Resorts International, the Saudi Press Agency reported. It offers financial and non-financial support to international and local investors.
ECOWAS is under pressure to reform (DW)
ECOWAS was once considered Africa's most institutionally developed regional organization, but that has changed. Following the recent military coups in various countries in the West African sub-region, it became clear that the organization lacks authority, legitimacy, and effective sanction and intervention instruments. " ECOWAS will only have a future if its member countries remember the spirit o
Bluechip Technologies to tap into Uganda’s vibrant digital economy (New Vision)
“We believe that our entry into the Ugandan market will accelerate technological advancement in the country due to our expertise in digital transformation, scalable infrastructure solutions, and cybersecurity. The Minister of ICT and National Guidance Chris Baryomunsi has lauded BlueChip Technologies' entry into the country’s digital landscape.
African Countries Urged to Harness Opportunities in Battery, EV Sector (ENA)
The United Nations Economic Commission for Africa (UNECA) has called on African countries to harness the opportunities presented in recent developments in the global battery and electric vehicle (EV) industry. The UNECA made the call as it held a technical review meeting on the implementation of a cross-border special economic zone for the battery and EV industr
Telecommunications and Technology: Driving a sustainable digital revolution for Africa’s tomorrow (MyJoyOnline)
Sub-Saharan Africa stands at the brink of a digital revolution, where telecommunications and technology are poised to be the driving forces behind sustainable socio-economic development. With a youthful population and vast economic opportunities, the region is embracing digital transformation as a pathway to inclusive growth and prosperity. We believe there will be a few key drivers of this digit
Nigeria’s BRICS Dilemma: Evaluating the Risks of Russian Alignment (Africa24.it)
In the text provided, we are presented with a strong opinion arguing that Nigeria should refrain from engaging with the BRICS alliance, particularly due to concerns around the reliability of President Putin of Russia. The author waleolaniyan posits that Nigeria’s involvement with BRICS could have detrimental effects on th
Nigeria's plans to join BRICS in line with its philosophy: Official (Al Mayadeen)
Akabueze expressed that when several countries were invited to join BRICS but Nigeria was not, "it raised a lot of eyebrows." Director General of Nigeria's Budget Office Ben Akabueze told Sputnik that its intent to join BRICS conforms with its interest in a more equitable global financial and development system. "The way I see it, BRICS is all part of a strategy to seek a more equitable global fi
China-Africa Partnership: Enhancing Socio-Economic Development and Connectivity (Pakistan Observer)
The Chinese BRI has become one of the biggest stimulators of socio-economic development in the African continent. It has also further enhanced Africa-China relations in terms of diverse sectors of economy, investment, manufacturing, trans-regional connectivity, immense social development and, notably, energy & food security. Africa has been benefiting from the BRI to boost infrastructure developm
Global events influence US AGOA standing (Fruitnet)
Moves in US Congress to review South Africa’s participation in AGOA, the US Growth and Opportunities Act, have reportedly been dropped. South African citrus growers who ship their fruit to the US are breathing a sigh of relief after reports that senators have introduced a bill to extend AGOA, which is meant to boost trade between Africa and the US until 2041.
South Africa, AGOA, and nonalignment (Brookings)
In 1998, flanked by U.S. President Bill Clinton and with Table Mountain looming in the background, South African President Nelson Mandela (after warmly welcoming the American president) used the opportunity of his first joint press conference with a U.S. president on South African soil to defend the country’s right to maintain positive relations with Libya, Cuba, and Iran. Thirty minutes later, w
Young seeking to maintain US-Africa trade preference program (New York Times)
U.S. Sen. Todd Young, R-Ind., is leading a bipartisan effort to strengthen a long-running American trade incentive for countries located in sub-Saharan Africa. The two-term Hoosier lawmaker recently filed the African Growth and Opportunity Act (AGOA) Renewal and Improvement Act to continue a trade preference program that facilitates deeper investment and stronger commercial ties between the Unite
The WAEMU has seen strong growth and rising living standards over the past decade. Economic growth averaged 5.4 percent in 2013-2019 and 5.8 percent in 2021-2023. Policy efforts from regional and national authorities have cushioned the impact of several external an
Global Gateway: EU remains the leading global provider of Aid for Trade (International Partnerships)
The European Union remains the world’s biggest contributor of Aid for Trade, committing over €18 billion in 2021, finds the latest EU Aid for Trade Progress Report published today. This amount represents 47% of all Aid for Trade originating from bilateral and multilateral sources, sustaining the growth trajectory from a 33% contribution in 2018. European Commissioner for International Partnership
In De-Risking, the Transatlantic Partners Enjoy An Edge. But Can They Capitalize? (CEPA)
Because China’s rise dominates the headlines, it is perhaps natural to conclude that Beijing has become the US and EU’s top trade partner. That’s wrong. US-EU goods trade in 2023 reached $946 billion, 39% higher than the $575 billion US-China goods trade and 15% higher than the $805 billion EU-China goods trade What’s more, trade between countries does not just consist of trade in goods. It also
Transition to Renewables Calls for New Approach to Energy Security (IRENA)
Evolving concept of energy security must address energy demand, system flexibility, technology access and infrastructure development, says IRENA Abu Dhabi, United Arab Emirates, 17 April 2024 – The transition away from fossil fuels to renewables requires a new interpretation of the concept of energy security, according to a new report by the International Renewable Energy Agency (IRENA) published
Multilateral development banks must supercharge nature-positive finance (WWF)
In advance of this year’s World Bank and IMF Spring Meetings, WWF’s Global Finance Practice Lead, Aaron Vermeulen, calls on governments and central banks gathering in Washington D.C. to shape a resilient, nature-positive global economy that delivers lasting prosperity. Finance is a powerful lever for change, and the age of nature-positive finance is dawning. As climate an
Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (IMF)
April 16, 2024 1. The G‑24 recognizes the profound human suffering from different crises worldwide. Such crises, whether stemming from conflict, natural disasters, violence, or other calamities, have exacted a heavy toll on individuals and communities. We call for strong commitment and emphasize the urgent need for a strong and united international effort to restore peace, stability, and rebuild
10 Priority Actions That Can Triple Trade in the Middle Corridor by 2030 (World Bank)
The Middle Corridor—a network of road, rail, and sea routes linking Chinese and European markets via Central Asia and the Caucasus—can become an engine of growth. Improvements to strengthen the corridor will help economies to flourish by boosting trade, creating jobs, and spurring entrepreneurship. A combination of investments and efficiency measures can reduce travel times along the corridor by
Committee adopts recommendations to support vulnerable members in tackling food insecurity (WTO)
At a special meeting on 17 April, the WTO Committee on Agriculture adopted a report containing recommendations on how to help least developed countries (LDCs) and net food-importing developing countries (NFIDCs) respond to acute food insecurity. The Chair of the Committee, Mr Kjetil Tysdal from Norway, congratulated members for reaching consensus on addressing the food security concerns of the most vulnerable WTO members.
Quick links
Kenyan firms gear up for Africa's largest trade fair in Algeria (The Standard)
Closing Africa's trade finance gap (Business Daily)
Trade Deception Returns in Pan-Africanist Guise (Inter Press Service)
UN forum calls for more funding, steps towards slavery reparations (The East African)
Containerisation has a Covid hangover (Freight News)
Garden centres in UK stockpile plants before new Brexit checks (The Guardian)
