Category: INTERNATIONAL
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A look into how business in Nigeria has fared since President Tinubu’s election
The performance of the business ecosystem in Nigeria, in 2023 is a subject of keen interest, as it plays a pivotal role in the country’s economic development and prosperity. Nigeria’s private sector, comprising of businesses ranging from small and medium-sized enterprises (SMEs) to large corporations, has faced numerous challenges in recent years, but none more…
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The effect of the Israel-Gaza conflict and national census ripples across SA’s economy
The South African currency fell on Monday as the unrest in the Middle East fueled risk aversion in global markets, and traders anticipated the outcome of the national census, which is due this week. At 1510 GMT, the rand was trading at 19.4100 per dollar, down 0.6% from its Friday close. “Trade in the rand…
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West Africa records growth despite coups and underperformance of its largest economies
Sub-Saharan Africa’s economic recovery is defined by certain subregions overperforming in comparison to the regional average and others underperforming. The World Bank relayed the aforementioned information in its Africa’s Pulse bi-annual report. The global lender identified how Africa is doing based on regional performance, which supports its evaluation. The report shows that while the Economic…
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World Bank projects Africa’s economy to slow down to 2.5%
Sub-Saharan Africa’s economic outlook remains bleak amid an elusive growth recovery. According to the latest World Bank Africa’s Pulse report, rising instability, weak growth in the region’s largest economies, and lingering uncertainty in the global economy are dragging down growth prospects in the region. Economic growth in Sub-Saharan Africa is forecast to decelerate to 2.5%…
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Billion dollar opioid addiction market fuels Nigeria’s drug crisis
A growing market of addiction to synthetic opioids estimated at over $1 billion has been identified as the fastest-growing challenge in Nigeria’s drug crisis, apart from cocaine and heroin trafficking. The emerging challenge is fuelled by the activities of organized crime syndicates that specialize in the production, use, and trafficking of drugs, according to a…
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Nigeria aims for $5 billion tech investment by 2027
Nigeria is setting its sights on attracting $5 billion in annual tech startup investments by 2027, unveiling a strategic plan to bolster the local tech ecosystem and foster innovation. Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, announced this ambitious goal as part of the country’s broader plan to accelerate its digital…
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Punitive domestic tariffs threaten African trade
Tariff and non-tariff barriers in the country remain a real threat to the vision of a liberalised African trade market under the African Continental Free Trade Area (AfCFTA). This is despite the fact that Ghana’s legal framework supports free trade, says a study that revealed tariff barriers are imposed as taxes and duties on imports…
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South Africa adds Ghana to E Visa list
The South African government has announced that Ghana has been added to the E Visa list. This means that Ghanaian citizens seeking to travel to South Africa can now apply for visas online, without having to visit the South African High Commission in Accra. This was announced in a statement issued by the South African…
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Ofori-Atta commends G20 for AU’s inclusion, urges common voice
The Minister for Finance, Ken Ofori-Atta says Africa now has the opportunity to contribute to key global issues and push for common interests that would help accelerate economic development in the region. Mr. Ofori-Atta’s optimism follows the recent inclusion of the African Union in the Group of 20 most important industrialized and developing economies, also…
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Nine ventures announced for Africa Money and DeFi Summit investment showcase
The Africa Money and DeFi Summit (AMDSGH) has announced the selection of nine ventures that would showcase the cutting-edge Web3, Blockchain, Fintech, and Decentralised Finance (DeFi) businesses to investors and industry leaders in Accra. The summit slated for October 3rd and 4th, 2023 would focus on forging connections and bridging the gap between African ventures,…