Brent crude briefly fell below $100 a barrel on Monday, a week after hitting a 14-year high of $130 on March 6, easing fears of an energy-fueled recession and chronically high oil prices. gasoline. This is the first major correction in energy markets after a period of heightened volatility. Last week, Moscow followed through on […]
The number of African countries that abstained in the United Nations General Assembly vote condemning the Russian invasion of Ukraine surprised some. But it follows a certain logic based on recent and historical precedents, says analyst Aanu Adeoye. “Africans see this Russian-Ukrainian invasion as Russia on the one hand against Ukraine and some Western allies,” […]
Nigeria’s Chairman of the Oil and Gas Free Zones Authority, Timipre Sylva, attends the ‘Saudi Green Initiative’ forum, in the capital Riyadh on October 23, 2021. Sylva said this week that his country should be left out of the transition world towards clean energy. Credit: Fayez Nureldine/AFP via Getty Images Energy leaders from some developing […]
Food production growth is slowing faster than in any other region of the world as droughts, floods, heat and pests from climate change take their toll Africa ‘not on track’ to deal with climate change impacts Lack of finance for adaptation and clean energy is a problem Food security threats particularly high, warn scientists By […]
In The anarchy by William Dalrymple, we discover the official trading company created by Tipu Sultan to trade with the ports of the Arabian Sea and the Persian Gulf. The wealth of this company enriched the sultanate of Mysore and enabled Tipu Sultan to provide his army with the latest French artillery. The company built […]
Economist and political risk analyst Dr Theo Acheampong said the government’s decision to challenge the downgrades of Fitch and Moody’s is a step in the right direction. This is because, according to him, there is “a kind of African or African bias in the way the ratings are done”. Speaking on Monday, February 7, 2022, […]
Dubai: Abu Dhabi-based Etihad Airways will resume services to/from Johannesburg, South Africa from March 3, the airline has announced. Passengers arriving from Johannesburg will be required to present a negative PCR test result obtained within 48 hours of departure and a negative rapid PCR test obtained within six hours of departure from the airport. They […]
By Ahunna Eziakonwa We are about to start a third year of life with COVID-19. Humanity and world solidarity are now at a new test – and yet the implications of the lack of solidarity keep us all in the boat of mutations, lockdowns, quarantines and delayed SDGs – prosperity for all is denied . […]
Sri Lanka has temporarily closed three diplomatic missions abroad from December 31 in an attempt to save foreign exchange reserves and cut spending, as the country faces crippling debt. The Sri Lankan High Commission in Abuja, Nigeria, the Sri Lankan Consulate General in Frankfurt, Germany, and the Sri Lankan Consulate General in Nicosia, Cyprus, will […]
December 9, 2021 J Yanqui Zaza of The Perperstive Challenges David Malpass of the World Bank Honorable David MalpassPresident of the World Bank1818 H Street, NOWashington, DC 20433 Re: Who benefits from the $ 157 million loan approved by the World Bank in June 2021 for Liberia? Dear President David Malpass: The public would like […]
Posted December 5, 2021 Nigeria has gone from the top 10 investment destinations in Africa to 14 while Egypt remains the number one nation. This is indicated by an RMB report titled “Where to invest in Africa 2021”. According to RMB, a division of FirstRand Bank Limited, the ranking is based on countries’ operating environments. […]
Mineral resources are an essential source of income for Africa. In 2019, minerals and fossil fuels accounted for more than a third of the exports of at least 60% of African countries. The continent produces around 80% of the world’s platinum, two-thirds of its cobalt, half of its manganese and a substantial amount of chromium, […]
WHEN PRESIDENT XI JINPING from China meets African leaders, grandiose demands abound. As such at least, the triennial diplomatic jamboree known as the Forum on Sino-African Cooperation (FOCAC), which was held recently in Senegal, did not disappoint. China and Africa have “forged an indestructible brotherhood,” said Xi, who spoke from China via video. Xi painted […]
China has pledged to donate a billion coronavirus vaccines, advance billions of dollars for African trade and infrastructure, and cancel interest-free loans to African countries to help the continent recover from the coronavirus pandemic. Speaking via a video link from Beijing at the Forum on China-Africa Cooperation (FOCAC), Chinese President Xi Jinping said China will […]
The United States is expected to restrict travel from eight countries on Monday due to a new variant of the coronavirus. The countries are South Africa, Zimbabwe, Botswana, Lesotho, Mozambique, Eswatini, Malawi and Namibia, NBC News reported. The World Health Organization on Friday called Omicron a “worrying variant” of the coronavirus. Loading Something is loading. […]
Sub-Saharan Africa is estimated to have 30 percent of the world’s mineral reserves, representing a major opportunity for the region. Despite the high level of private investment in this critical sector, new analysis reveals that many multinational companies are avoiding paying their taxes. To get an idea of ​​the scale of investments that companies are […]
Asjadul Kibria | Posted: Oct. 30, 2021, 8:58 p.m. About nine years ago, a book, written by Morten Jerven, then an assistant professor in the School of International Studies at Simon Fraser University in Vancouver, sparked a debate about the accuracy of economic data and the development of Africa. Entitled “Poor Numbers: How We Are […]
It has been more than 20 months since the World Health Organization announced that Covid-19 was a global health emergency and a pandemic. It is estimated that the resulting travel cuts in 2020 alone have been wiped out $ 4.5 trillion of the global tourism economy and costs millions of jobs. In Africa, half of […]
HARARE, Zimbabwe (AP) – A 71-year-old South African tourist was trampled to death by an elephant “in sight” of his son in Zimbabwe’s Mana Pools National Park, the parks agency said Thursday. country, days after another fatal elephant encounter occurred in a separate park. A “helpless” elephant this week indicted the tourist and her 41-year-old […]
Sub-Saharan Africa needs significant additional funds to counter the damage caused by the coronavirus pandemic, strengthen its prospects for economic recovery and mitigate threats posed by climate change, according to the World Bank. The regional economy is expected to grow 3.3% in 2021, after contracting by around 2% last year, the Washington-based lender said last […]
The pandemic slowdown has exacerbated one of the most serious challenges Africa faces on its development path – the high costs of collection premiums – the overvalued risks eternally attributed to Africa, regardless of the improvement in its macroeconomic fundamentals, the global economic environment and the growth prospects of each country. . The global nature […]
By guest writer On August 23, the International Monetary Fund (IMF) injected liquidity into all of its member countries worth $ 650 billion in Special Drawing Rights (SDRs). Uganda received the equivalent of Shs 1,200 billion from this injection. This money was allocated according to the participation of member countries in the IMF. Uganda’s participation […]
By BERNA NAMATA Africa’s economic officials see a bleak future as they attempt to raise funds to purchase vaccines and increase government spending needed to reduce poverty and ease economic shocks caused by the coronavirus pandemic. This week, African finance ministers pleaded with international lenders, including the International Monetary Fund, to do more to mobilize […]
Sri Lanka’s economy is reeling from a foreign currency crisis during pandemic economic turmoil. A long-standing dependence on imports has finally caught up to drain foreign exchange reserves, already strained by large debt repayments in the absence of US $ 5 billion in tourism and influx of sovereign bonds. Despite the apocalyptic predictions of some […]
A South African-based nonprofit conservation group that manages 19 protected areas on the continent has secured a donation of $ 100,000,000. Gorillas in Odzala-Kokoua National Park in Congo will benefit from the donation. © Andrew Beck and African Parks Rob and Melani Walton Foundation grant pledged to African Parks, which manages parks in eleven African […]
This week, as around 100 world leaders gather to attend the 76e session of the United Nations General Assembly (UNGA 76), a call to rich countries to urgently step up their aid to help Africa meet the twin challenges of the climate catastrophe and the impact of the COVID pandemic -19 is required. With the […]
A combination of specific inflationary shocks and vulnerabilities could seriously threaten the stability and prosperity of developing economies. Although part of the political response to these risks lies in the hands of the poorest countries themselves, the international community can and must help. Rabah Arezki & Jean-Pierre Landau; Project union September 25, 2021, 12:10 p.m. […]
India’s exports of non-basmati rice have slowed in the current quarter, particularly to the Far East and Southeast Asia, as the region sees new arrivals of paddy. In addition, payment issues with Vietnamese buyers, high freight charges, and current market volatility are impacting shipments. On the other hand, shipments to Africa, especially parboiled rice, are […]
By Alassane Dramane Ouattara President of Côte d’Ivoire. The COVID-19 pandemic has resulted in an unprecedented global health, social and economic crisis. In 2020, sub-Saharan Africa experienced the worst underperformance on record, with a growth rate of -1.9%, coupled with an increase of 32 million people living in extreme poverty. Health systems, education and other […]
The world needs collective action to meet Africa’s financing needs and to support an inclusive and sustainable recovery of African economies from the COVID-19 pandemic. The world community has the opportunity to bring about the 20th replenishment of a 60-year-old World Bank program known as the International Development Association. The goal is an IDA20 replenishment […]
Emmanuel Koro Why should rural African communities coexisting with wildlife and receiving no benefit from it care about the conservation of wildlife that damages their crops, kills their livestock, their loved ones and destroys their property? This is the key wildlife conservation question that all African states had to answer when they took over from […]
Bandits. Photo credit: Voice of America (VOA) Those who brought worm infested wood into the Nigerian home inadvertently invited reptiles, snakes and scorpions for breakfast, lunch and dinner. From Zamfara, Katsina to the states of Kaduna, Kebbi, Sokoto and Niger, terrorist shepherds now beatified as Fulani bandits have transformed the northwest corner of Nigeria into […]
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Variants, vaccine shortages increase risks-G20 Global tax deal on track for October signing But obstacles from the US and EU could complicate matters Call for financial stability VENICE, Italy, July 10 (Reuters) – An upsurge in new coronavirus variants and limited access to vaccines in developing countries threaten the global economic recovery, finance ministers from […]
The government regularly talks about tax reforms that would allow it to increase infrastructure spending and channel more resources into non-oil sector growth, but translating intention into action seems overkill as the medium-term spending framework and the 2022-2024 Paper budget strategy (MTEF / FSP nevertheless reflects old habits. In March, the country’s documented debt stock […]
Why Namibia and Botswana should be on your radar, and what LGBTQ + travelers can experience on a trip to Africa. Share this article EEurope borders could reopen to American travelers, but another continent is also quietly welcoming Americans again: Africa. Kenya opened to Americans last summer, citing the importance of tourism in employing 2 […]
A money exchanger counts banknotes on the streets of Mogadishu, Somalia. Photo by: Stuart Price / AU / UN IST photo / AMISOM Public Information / CC0 There is an increased risk of default on the African continent due to the COVID-19 pandemic, which has increased the debt burden while exacerbating poverty and deepening inequalities, […]
When Kenneth Kaunda, former president and founding father of Zambia, passed away last week at the age of 97, what followed in Western media was a series of quite predictable and rambling summaries of the long career. of an African leader in politics and public life. There was talk of his upbringing in the church […]
BP plans to drill for fossil gas at the edge of the world’s largest cold-water coral reef, increasing the risk of biodiversity loss, global warming and toxic fuel spills. The British oil giant has started construction on a fossil fuel project near the 580 km long coral ecosystem off the coast of West Africa, which […]
Much has been said about the role SMEs can play in South Africa‘s future. SMEs – or small and medium-sized enterprises – have been touted by many as the main engines of South Africa‘s developing economy. The sector can help reduce unemployment, contribute to GDP and provide jobs for thousands of citizens. But in the […]
Comment On May 28, President Joe Biden made a shocking note in his remarks to the US military at a military base in Virginia: “We are in a battle between democracies and autocracies. He also said that Chinese leader Xi Jinping once told him that he “firmly believed that China, before the year [20]30, ’35, […]
The coronavirus largely represents an acceleration of existing globalization trends, rather than a complete paradigm shift. Globalization has fluctuated over the years, but event panelists agreed that the 2007-08 global financial crash marked a turning point and triggered a “slowdown” trend. Falling incomes, rising unemployment and inequality have been fertile ground for the rise of […]
Illustration by Soham Sen | The imprint Text size: A- A + Wis it in a name? What we call Covid-19 by another name would make us sick, hospitalize us or kill us. Why do we change our panties then if some around the world describe the newer and more notorious B.1.617 variant as “Indianâ€? […]
(MENAFN – AETOWire) NEW YORK-Friday June 4, 2021 () – Africa Finance Corporation, the leading provider of infrastructure solutions in Africa, received an increase in its credit rating outlook from Moody’s Investors Service, which assigned a “stable” outlook. The decision ratifies the second investment grade ranking among African institutions for AFC, with Moody’s upholding the […]
NEW YORK,–(COMMERCIAL THREAD) – Africa Finance Corporation, the leading provider of infrastructure solutions in Africa, received an increase in its credit rating outlook from Moody’s Investors Service, which assigned a “stable” outlook. The decision ratifies the second investment grade ranking among African institutions for AFC, with Moody’s upholding the company’s long-term and senior unsecured issuer […]
By Moussa Ilallah For developed and developing countries alike, borrowing in the world is not just a hobby, but a necessary evil to meet the scorching and depressing financial needs of countries during critical times. It is a norm to take loans, grants or aid to facilitate development and stabilize economies. In 1988, under the […]
The Addis Ababa Urban Railway in Ethiopia was built by the China Railway Engineering Corporation and financed with loans from the Chinese state bank China Exim-Bank. Keystone / Daniel Getachew China has contacted Switzerland to cooperate on development aid projects. Switzerland has so far been open to such collaborations. NGOs warn of China’s political motivations […]
Rachel Reeves made a strong commitment to boosting the UK auto industry while cutting carbon emissions during her first speech as Phantom Chancellor earlier this month. She called on the UK to become “world leaders” in the production of electric vehicles and committed the Labor Party to plans for three gigafactories of electric vehicle batteries […]
I went to school in France; the recipient of a prestigious scholarship from the French government which allowed me to spend some of my most formative years in this wonderful country. I studied French language and civilization in Vichy, Auvergne – the very heart of France. I then did postgraduate studies in economics, public administration […]
Biological diversity is the sum of the different species and forms of life (animal, plant, entomological and others), their evolution and the interactions they can have within the ecosystem where they develop. Africa is home to some of the most diverse biodiversity in the world, with animals and plants living in forests, savannas, mountains, mangroves […]
The International Monetary Fund COVID-19 threatens decades of progress by African countries to become advanced economies, and global finance leaders have been warned that the continent needs huge investments in the years to come. The Managing Director of the International Monetary Fund, Kristalina Georgieva, told a summit in Paris that an additional US $ 285 […]
SARAO has the opportunity for a telescope operator to join our team based in Cape Town on a five (5) year contract basis. The incumbent will be part of a team of operators responsible for ensuring the optimal functioning of the KAT-7 and MeerKAT telescopes. Identify and resolve problems and plan and monitor activities to […]
Lagos-based pan-African multilateral development finance institution African Finance Corporation (AFC) successfully issued a Eurobond at its lowest yield to date. This is an indication of the strong interest of global investors in the African continent and the development finance institution which is dedicated to infrastructure finance and investment in key sectors of the continent. This […]
Lagos-based pan-African multilateral development finance institution African Finance Corporation (AFC) successfully issued a Eurobond at its lowest yield to date. This is an indication of the strong interest of global investors in the African continent and the development finance institution which is dedicated to infrastructure finance and investment in key sectors of the continent. This […]
Lagos-based pan-African multilateral development finance institution African Finance Corporation (AFC) successfully issued a Eurobond at its lowest yield to date. This is an indication of the strong interest of global investors in the African continent and the development finance institution which is dedicated to infrastructure finance and investment in key sectors of the continent. This […]
Friday, April 23, 2021 / 2:40 p.m. / United Capital Research / Header Image Credit: IMF Anglophone West Africa Nigeria According to the Internally Generated Revenue report released by the National Bureau of Statistics (NBS), Nigeria states generated 1.31 tn of IGR in 2020, down 1.9% year-on-year from 1 , 33 tn in 2019. The […]
A woman receives the AstraZeneca / Oxford vaccine as part of the COVAX coronavirus disease (COVID-19) program at Eka Kotebe General Hospital in Addis Ababa, Ethiopia on March 13, 2021. Photo via Tiksa Negeri / REUTERS . By allowing the International Monetary Fund (IMF) to provide substantial amounts of foreign exchange reserves to its 190 […]
United States: Biden administration imposes tough new sanctions on Russia in response to cyber attacks and election interference April 21, 2021 Winston & Strawn LLP To print this article, simply register or connect to Mondaq.com. On April 15, 2021, President Biden issued an executive order (found here), “Freezing of Assets in Respect of Specified Harmful […]
Image: Green Building Africa With 187 GW, Mozambique has the largest potential power generation capacity in southern Africa. In addition, while hydroelectricity, coal, natural gas and solar each continue to increase their respective share in the country’s energy mix, Mozambique is positioning itself as a major regional producer of electricity. Despite prolific power generation potential, […]
Representative image & nbsp | & nbspPhoto credit: & nbspiStock Images The green energy revolution offers Africa a chance to transform its future. The continent is blessed with an abundance of minerals, and one of them is lithium, a critical component in the manufacture of batteries for electric vehicles. Lithium offers African nations the opportunity […]
New report led by AidData, a US-based development finance research lab, reveals how Chinese lenders are using contracts to gain an advantage over other developing country creditors, limiting borrowers’ options for crisis management and complicating debt renegotiation. Researchers reviewed 100 contracts issued between 2000 and 2020 between Chinese lenders and 24 developing countries, including 11 […]