Egypt has remained one of the few countries that has maintained positive growth during and after the COVID-19 crisis. In October 2021, Egypt instituted structural reform policies that were deemed integral to its efforts to accomplish a sustainable and resilient economic recovery. Egyptian GDP remains at an all-time high and...
The African Continental Free Trade Area (AfCFTA) could help drive economic growth and reduce inequalities widened by the pandemic, a newly released report by UNCTAD indicates. The AfCFTA came into operation on January 1st, and all countries except Eritrea have signed up. It consists of 1.3 billion people with...
The Democratic Republic of Congo’s bid to join the East African Community (EAC) has been approved, marking a successful end to years of efforts to integrate with its eastern neighbors. The approval to join the regional bloc was granted by the EAC Council of Ministers, after a thorough verification...
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...
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...
Peugeot, Renault, Tesla, Volkswagen and Volvo share two conspicuous things in common. One, is they are car manufacturers who command a large share of the global market. And the second, which may be little unknown to the common driver, is their reliance on cobalt to manufacture the vehicles that have...
Ghana defied the pandemic to record $829.29 million worth of foreign direct investment (FDI) in the first half of 2021, a clear signal of the West African country’s attractiveness to investors. The FDI amount of $829.29 million was a remarkable increase of 32.15 percent in inbound...
Over the last twenty years, China has strengthened its relationship with Africa by providing low-interest loans, constructing mega infrastructure projects, buying more oil, bauxite, and natural gas, and of course, exporting cheap manufactured products. It’s now almost impossible to separate China from Africa. And some African countries like Ethiopia,...
Even before the coronavirus pandemic swept through the continent, African countries were rapidly raising their debt ceilings. Heads of State flocked to China, as the world’s second largest economy granted loans at will, with little, if any, preconditions. Faced with a first recession in 30 years, the continent’s...
