Trade Finance |

Why Intra-African Trade Matters: Working Locally to go Global

Economic integration efforts have a long history in Africa. The large number of preferential trade agreements signed in the past five decades has led to a “spaghetti bowl” of intertwined and overlapping regional organizations. Every African country is a party to at least one regional economic agreement, and many are members of five or more. Despite these efforts, intra-African trade remains low. Regional exports are less than 10 per cent of Africa’s total merchandise exports,…

Kenya’s manufacturers laud efforts to enhance intra-Africa trade

Posted on by The Editorial Team

Kenya’s manufacturers have praised efforts being made by the government to secure additional market, enhance intra-African trade and boost the country’s exports through regional trade blocks. The Kenya Association of Manufacturers (KAM), which organised a forum in Nairobi to review the progress on the Tripartite Free Trade Area (TFTA) negotiations and its impact on business, lauded the ministry of foreign affairs for engaging the private sector in the talks. KAM Executive Officer in charge of…

Intra-Africa trade: Going beyond political commitments

Posted on by The Editorial Team

Among Africa’s policy wonks, underperforming trade across the continent is a favoured subject. To unravel the puzzle, they reel off facts and figures at conferences and workshops, pinpoint trade hurdles to overcome and point to the vast opportunities that lie ahead if only African countries could integrate their economies. It’s an interesting debate but with little to show for it until now. The problem is partly the mismatch between the high political ambitions African leaders…

Building Infrastructure to Spur Inter-African Trade and Tourism

Posted on by The Editorial Team

African Heads of States and Governments recognize the potential contribution of tourism to the growth and transformation of the continent, given that Africa is endowed with rich and diverse cultures, landscapes, and biodiversity. Consequently, tourism is one of the strategic areas in the New Partnership for Economic Development (NEPAD) framework, and is identified there as a key driver for socio-economic growth. To foster the development of tourism in the continent, the NEPAD Tourism Action Plan…

West Africa: New railway network aims to boost inter-regional trade

Posted on by The Editorial Team

On the dual carriageway linking the main airport to downtown Niamey, the capital of Niger, workers are busy digging trenches in the middle of the island separating the lanes, and laying tracks where rows of lampposts once stood. They are racing against the clock to build a thousand-kilometre stretch of a regional network that will connect Niamey to the West African seaport of Cotonou, Benin. The project is expected to be completed by the end…

Chinese yuan penetrates African markets: Could it be the next global reserve currency?

Posted on by The Editorial Team

In March this year Zimbabwe joined a growing list of countries in Africa and the world using the Chinese currency, yuan, also known as remnibi (RMB), as one of its official currencies after its central bank added the RMB, the Japanese yen, the Australia dollar and the Indian rupee to the existing basket of currencies. Zimbabwe abandoned its currency in 2009 when it was rendered worthless by excessive inflation. Since then, it has been using…

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