Category: Africa
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Sub-Saharan Africa’s economy to shrink by 3.2% in 2020 – IMF
Data released by the International Monetary Fund, IMF, in a revised Regional Economic Outlook (REO) forecast for 2020 indicates that countries within Sub Saharan Africa will suffer a significant shrink due to depressed economic activity, a negative outcome of the novel Coronavirus pandemic. According to the IMF, earlier anticipated impact could worsen in Sub Saharan…
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An African candidate could be the next WTO Director-General – Trade Analyst predicts
An African could emerge as the Director-General of the World Trade Organization (WTO) if the continent puts forward a competent name for the vacant position created by the resignation of Brazil’s Roberto Azevêdo. That’s the view of a Trade Analyst and Managing Partner at Konfidants, Michael Kottoh. Mr. Kottoh argues that geopolitical issues and trade…
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AfroChampions recommends virtual summit among African Trade Ministers over AfCTA implementation
Policy and advocacy think tank, AfroChampions, is urging African Trade Ministers to convene a virtual summit under the aegis of the African Union to keep on track the operation of the African Continental Free Trade Area (AfCFTA) amidst the Coronavirus pandemic. According to the policy group, this high-level meeting would be an opportunity to discuss…
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MTN Group ranked Africa’s top telecoms brand
MTN has been awarded the most valuable telecom brand in Africa in a recent annual report by Brand Finance, a leading independent brand valuation consultancy. The report stated that MTN’s brand value was boosted by a solid overall performance for the year, despite challenging economic conditions and regulatory challenges in some markets. Brand finance also…
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CUTS advocates implementation of AfCFTA in 2nd quarter of 2021 due to COVID-19
Research and Public Policy Think Tank, CUTS, says a postponement of the implementation of the African Continental Free Trade Area (AfCFTA), would be ideal in the wake of the COVID-19 pandemic. Last week, AfroChampions, also a Policy and Advocacy think tank, suggested that the implementation should go ahead on July 1, 2020 as scheduled, as…
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World Bank Group and IMF mobilize partners for COVID-19 fight in Africa
The World Bank Group and International Monetary Fund on Sunday April 18, convened a meeting of African leaders, bilateral partners, and multilateral institutions to spur faster action on COVID-19 response in African countries. Cyril Ramaphosa, President of South Africa, United Nations Secretary General Antonio Guterres, Director General of the WHO Dr. Tedros Adhanom Ghebreyesus, Africa…
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AfCFTA must kick off in July despite COVID-19 threat – Group advocates
Policy and advocacy think tank, AfroChampions, has advised that the July 2020 date for the commencement of the African Continental Free Trade Area (AfCFTA) should not be rescheduled due to the outbreak of the novel Coronavirus. The commencement of trading within the AfCFTA is slated for 1st July 2020. According to the policy and advocacy…
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COVID-19: An opportunity to boost industrialization in Africa – Report
As African countries struggle to procure goods and supplies from global suppliers in the wake of the novel Coronavirus pandemic (COVID-19), the situation is expected to cause a shift from global supply chains towards more regionalized and localized supply chains. That’s according to the African Continental Free Trade Area (AfCFTA) Year Zero Report, by policy…
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COVID-19 to lead Sub-Saharan Africa into recession in 2020 – World Bank
The rapidly-spreading coronavirus outbreak is expected to push sub-Saharan Africa into recession in 2020 for the first time in 25 years, the World Bank has said in a new forecast on Thursday. The bank’s Africa’s Pulse report said the region’s economy will contract 2.1% to 5.1% from growth of 2.4% last year, and that the…
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World Bank gives Ghana, 6 others US$379m to help strengthen statistical systems
As part of efforts to deepen regional integration in Africa, the World Bank Group has allocated a total of 379 million dollars in International Development Association (IDA) credits and grants to help harmonize and strengthen statistical systems in seven West African countries, including Ghana. The other countries who received the donation are Burkina Faso, Cape…