Category: North Africa
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Sub-Saharan economic growth recovery to take longer – World Bank
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The World Bank has cut its growth forecast for Sub-Saharan Africa this year to 2.8 percent from an initial 3.3 percent, it said on Monday. The commodity price slump of 2015 cut short a decade of rapid growth for the region, and the bank said growth would take longer to recover as a decline in…
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Standardization issues affecting Continental Free Trade Area –Carlos Ahenkorah
Deputy Minister for Trade and Industry Carlos Ahenkorah has cautioned that the implementation of the African Continental Free Trade Area(ACFTA) could be derailed if the issue of standardization of goods and services are not addressed in all countries. Ghana’s parliament in April 2018 gave its backing to the African Continental Free Trade Agreement, seeking to…
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A Boeing 737 Max 8 made an emergency landing after an engine problem
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A Boeing 737 Max 8 aircraft from the fleet that was grounded after two deadly crashes made an emergency landing in Florida on Tuesday. No passengers were aboard Southwest Airlines Flight 8701, which was being ferried from Orlando International Airport to Victorville, California, for short-term storage during the grounding, the airline said. Just before 3…
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Eskom Intensifies South Africa Power Cuts as More Units Fail
Blackouts in South Africa intensified to a maximum level on Saturday after the state power utility said it lost additional generation, including electricity imports from Mozambique. The power cuts, first implemented over the weekend to replenish water and diesel designed for surplus generation, were raised to so-called Stage 4, removing 4,000 megawatts from the grid, Eskom…
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EU adds Saudi Arabia to dirty-money blacklist, upsets UK, U.S
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The European Commission added Saudi Arabia, Panama and four U.S. territories to a blacklist of nations it considers a threat because of lax controls on terrorism financing and money laundering, the EU executive said on Wednesday. The move is part of a crackdown on money laundering after several scandals at EU banks, but it has…
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Brexit: US ambassador to UK Johnson warns on trade deal
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Donald Trump’s offer of a “quick, massive, bilateral trade deal” will not be possible if Theresa May’s EU withdrawal agreement is approved, the US ambassador to the UK has warned. President Trump had previously said her Brexit proposal sounded like a “great deal for the EU”. Woody Johnson told the BBC the UK was “in…
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Nigeria’s first gold refinery to triple capacity in 5 years
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Nigeria’s first gold refinery is expected to more than triple its capacity within five years after operations begin next June, an executive at the company developing it said on Tuesday. Nere Teriba, vice chairman of local firm Kian Smith Trade & Co, said the refinery would initially be able to produce three tonnes per month…
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World Bank announces $200 billion for Climate Action
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The World Bank Group today announced a major new set of climate targets for 2021-2025, doubling its current 5-year investments to around $200 billion in support for countries to take ambitious climate action. The new plan significantly boosts support for adaptation and resilience, recognizing mounting climate change impacts on lives and livelihoods, especially in the…
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Africa needs $621bn to meet UN Sustainable Development Goals
The Global Infrastructure Hub, a G20 initiative, has today published two reports that reveal an urgent need for infrastructure investment in 10 Compact with Africa countries, and highlight the reforms required to encourage greater investment. The first of these reports, Global Infrastructure Outlook: Infrastructure Investment Need in the Compact with Africa Countries, reveals that, unless…
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Low internet penetration in Africa due to lack of terrestrial fibre
Experts at the Africa Session of the International Telecoms Week conference in Chicago have described terrestrial fibre constraints as the mother of all bottlenecks hindering increased Internet penetration on the continent. During his presentation on the theme “Enabling Content on the African Continent”, Chief Executive Officer of research firm, Xalam Analytics, Guy Zibi analyzed the…