Category: INTERNATIONAL
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Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations
The South African High Commissioner to Ghana, Her Excellency Grace Jeanet Mason is urging businesses in Ghana and South Africa to leverage on the African Continental Free Trade Area (AfCFTA) to bolster bilateral and economic relations. She explains that the trade volume between the two countries is about 6 million US Dollars. This she believes…
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Silicon Valley Bank crisis: What led to stock crash, what lies ahead?
America’s Silicon Valley Bank (SVB), one of the most prolific lenders in the private market ecosystem, has been embroiled in a major crisis. SVB Financial Group bonds plunged alongside its shares after the company moved to shore up capital after losses on its securities portfolio and a slowdown in funding. Several experts have compared the…
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Medical devices market projected to expand by $ 7.1 billion by close of year
The Federation of Africa Medical Equipment, Disposal and Devices is projecting that the medical devices market will expand by $ 7.1 billion by close of 2023. The Federation attributes the projection to the growing population of the African continent. Speaking at the India-Ghana Pharma Business Summit in Accra, the Chief Executive Officer of the Federation…
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African Union adopts Africa Prosperity Dialogues AfCFTA action plan
Heads of state of the Africa Union (AU) have adopted the Action Compact of the Africa Prosperity Dialogues (APD) in Ghana last January. The APD creates an annual platform for Africa’s private sector to network with public officials on the implementation of the Africa Continental Free Trade Area (AfCFTA), which aims to create a single…
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Third World Network Africa urges Africans to be strategic about AfCFTA
Third World Network Africa, a research and advocacy organization is urging African leaders to develop strategies that will move the continent away from the challenges that confront it by leveraging on the African Continental Free Trade Area. The advocacy group explains that the lack of political will to execute the already discussed policies has delayed…
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5 important things to know about the African Continental Free Trade Area agreement
The African Continental Free Trade Area (AfCFTA) which unites the 55 members of the African Union (AU) and eight Regional Economic Communities (RECs), is the largest free trade area in the world. It has an overarching goal of establishing a single continental market with a combined GDP of around US$3.4 trillion and a population of…
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$130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia
Vice president Dr. Mahamudu Bawumia has disclosed that Africa will need between US$130 billion and US$170 billion annually to propel a sustainable growth of 5 percent in order to bridge the infrastructural shortfalls of the continent. Addressing a high-level conference in Accra of African Ministers of State, diplomats, policymakers, and business executives, who are discussing…
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Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world
The African Development Bank Group, will commit $10 billion over the next five years to boost Africa’s efforts to end hunger and become a primary food provider for itself and the rest of the world. Bank Group President, Dr Akinwumi Adesina, announced Wednesday at the Dakar 2 Africa Food Summit in Diamniadio, east of the…
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Nigeria’s national debt hits an all time as the country struggles with repayment
Nigeria’s public debt has reached an all time high of N44.06tn in the third quarter of 2022. This is according to a report by the Punch Newspaper, which also noted that the rise in debt is coming amidst the country’s struggle to repay its already substantial debt. According to the report, ,the total public debt…
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What does 2023 hold? Predictions in payments for the year ahead for Africa
The sharp economic slowdown brings new difficulties ahead for Africa – including high international food and fuel prices, financial shocks from the tightening of monetary policy in advanced economies, and increased food insecurity in various parts of the region. All of this follows the economic and social effects of the pandemic. 2023 is going to…