AfCFTA – Africa Guardian

Intra-African Trade Surges as Local Markets Gain Preference Over Global Partners

November 19, 2024

| Africa, Business News

Africa Surpasses Asia and Europe as Preferred Trade Market By Elizabeth Antidius Shumbusho | Africa Guardian Africa’s intra-continental trade is gaining momentum, driven by easier cross-border transactions, improved quality of locally made goods, and more competitive pricing compared to markets in Asia, the US, and Europe. According to the latest Africa Trade Barometer, African businesses are increasingly opting to…

EU Remains Africa’s Leading Trade Partner and Export Market

November 7, 2024

| Africa, Business News

Our Correspondent | Africa Guardian The European Union (EU) continues to be Africa’s largest trading partner and primary export market, according to Norwegian Ambassador Tone Tinnes. Speaking at the 28th annual research workshop of REPOA, an economic research institution based in Dar es Salaam, Tinnes highlighted that EU imports from Africa reached €367 billion in 2023—a 27% rise since…

Transforming Business in Africa: The Influence of Digital Payment Solutions and Passport by Investment

October 3, 2024

| Business News

Our Correspondent | Africa Guardian Africa’s business landscape is undergoing a remarkable transformation fueled by technological innovations and shifting global economic dynamics. The continent’s increasing connectivity, highlighted by the emergence of digital payment solutions and passport by investment (PBI) programs, is reshaping business practices. These advancements not only enhance financial accessibility but also create new avenues for global entrepreneurs…

USAID Launches $508,000 Regional Business Grants Initiative

September 13, 2024

Our Correspondent | Africa Guardian The United States Agency for International Development (USAID), in partnership with TradeMark Africa (TMA) and the East African Business Council (EABC), has introduced a $508,000 grant fund aimed at enhancing capital and credit access for over 220 small enterprises in East Africa. David Rogers, USAID’s Deputy Director for the East African region, highlighted that…

AGRA Recognized for Amplifying Africa’s Role in Shaping Future Food Systems

September 13, 2024

| Agribusiness, News

By Edson Baraukwa | Africa Guardian Rwandan President Paul Kagame has praised the Alliance for a Green Revolution in Africa (AGRA) for ensuring that Africa has a clear voice in the future of its food systems. Speaking at the recently concluded Africa Food Systems Forum 2024, Kagame highlighted the critical role of food production in Africa’s economy, noting that…

Meaningful Work Essential for Retaining Talent in Africa, Experts Say

September 12, 2024

| Leadership, News

By Edson Baraukwa | Africa Guardian As businesses across Africa grapple with high employee turnover and a workforce increasingly driven by purpose and career development, experts emphasize the importance of meaningful work for talent retention. At the Regional HR Summit held in Nairobi, HR leaders, industry experts, and policymakers gathered to address the need for a shift in talent…

AfCFTA and Inclusive Trade: Key to Africa’s Economic Growth, Says GABI

September 9, 2024

| Economy, News

Our Correspondent | Africa Guardian The Global Africa Business Initiative (GABI) has highlighted the crucial role of the African Continental Free Trade Area (AfCFTA) and inclusive trade in unlocking Africa’s vast economic potential. GABI emphasizes that these strategies are essential for spurring economic growth, reducing poverty, and creating jobs across the continent. Ahead of its 2024 flagship event, “Unstoppable…

Tanzania Advances Trade Agenda at Indonesia-Africa 2024 Forum

September 4, 2024

By Charles Muchoki | Africa Guardian At the Indonesia-Africa 2024 Forum, Tanzania has reaffirmed its dedication to advancing Africa’s economic transformation under the African Agenda 2063. On the second day of the forum, Zanzibar President Dr. Hussein Mwinyi emphasized the critical role of Africa’s economic development in fostering growth, political stability, and global cooperation. Dr. Mwinyi highlighted that Africa’s…

Africa Climate Change Conference Calls for Innovative Financing

August 31, 2024

| News/Environment

By Edson Baraukwa | Africa Guardian The 12th Conference on Climate Change and Development in Africa (CCDA-XII) has commenced in Abidjan, gathering a broad coalition of stakeholders to address the pressing climate challenges facing the continent. Held alongside the special meeting of the African Ministerial Conference on the Environment (AMCEN) in preparation for COP 29 in Baku, CCDA-XII aims…

AfCFTA Secretary General Expresses Concern Over South Africa’s Non-Participation in Key African Payment System

August 27, 2024

By Charles Muchoki | Africa Guardian The Secretary General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, has expressed disappointment over South Africa’s reluctance to ratify the Pan-African Payment and Settlement System (PAPSS), a move he believes is crucial for reducing trade costs and accelerating economic integration across the continent. PAPSS, developed in partnership with the African…

2024 FOCAC Summit : Towards a closer China-Africa community

August 20, 2024

| Africa, FOCAC-2024

By Xinhua News, Agency 2024 FOCAC Summit The 2024 summit of the Forum on China-Africa Cooperation (FOCAC) will be held in the Chinese capital city of Beijing from Sept. 4 to 6. The summit is expected to include the participation of African heads of state, as well as representatives from regional and international African organizations involved in summit-related activities….

Africa becomes next global manufacturing powerhouse

August 16, 2024

| Africa, Industrialization, News Update

The lack of financing options, particularly for small and medium-sized enterprises (SMEs), stifles innovation and hinders business growth. Africa is rapidly positioning itself as a key player in the global manufacturing landscape, offering unprecedented opportunities for growth and investment. With manufacturing contributing over 10.5 percent to the continent’s GDP, Africa is on the cusp of a manufacturing revolution, driven…

Ruto urges African leaders to accelerate realisation of AfCFTA agreement

October 28, 2023

President William Ruto has called on African leaders to accelerate the realisation of the Africa Continental Free Trade Area (AfCFTA) agreement. The President said AfCFTA will increase intra-Africa trade thereby creating jobs and wealth for the people. President Ruto noted that Visa restrictions between African countries and tariffs are unnecessary hindrances to trade. “It is time we realise the…

Türkiye, African businesspeople come together in Istanbul

September 27, 2023

| Business News

OVER the years, Türkiye’s role in the African continent has increased consistently. This has been translated into stronger ties between Türkiye and Africa. Turkiye’s policies toward Africa evolve within the framework of a win-win policy and are mainly driven by economic, humanitarian, and security dimensions. Furthermore, Türkiye has emphasised the fact that the principles of equal partnership and mutual…

Africa sets the foundation for an electric vehicle future

September 22, 2023

| News, Tech Updates

Emobility refers to electric vehicles, ideally powered by renewable energy sources Numerous South Africans facing daily challenges commuting to their workplaces via minibus taxis or cars on crowded highways might have difficulty accepting that an electric mobility revolution is on the horizon. However, several factors are pointing in that direction. Emobility refers to electric vehicles, ideally powered by renewable…

AGRF Summit Shines Spotlight on Women in African Agriculture: VOWET Hails the New AASR Report

September 6, 2023

AGRF Summit, formerly known as the African Green Revolution Forum, brought forth illuminating insights into the state of agriculture across the African continent. With the release of the Africa Agriculture Status Report (AASR), the spotlight was firmly fixed on the role and significance of women in this essential sector. The AASR, an authoritative voice on the continent’s agricultural prospects,…

Samia’s message on strengthened Brics-Africa links

August 25, 2023

She said Tanzania envisioned a Brics-Africa partnership that supports the continent’s endeavour to promote and strengthen regional value chains and help African producers to gain access to global export markets. Dar es Salaam. President Samia Suluhu Hassan said yesterday the Brics-Africa partnership needs to focus on unlocking the continent’s potential towards realisation of Agenda 2063, Sustainable Development Goals and…

Africa Offers New Frontier for Global Economic Growth – Yofi Grant

August 25, 2023

The global economy needs Africa to build back again from the ravages of the COVID-19 pandemic and Russia-Ukraine war, the Chief Executive Officer (CEO) of the Ghana Investment Promotion Centre (GIPC), Yofi Grant, has said. He said Africa offered the new frontier for global economic growth and recovery due to the impact of the coronavirus disease and the Russia-Ukraine…

Africa Countries Should Walk the Talk on Continental Integration

July 23, 2023

Bereket Sisay The 5th Mid-Year Coordination Meeting of the African Union, Regional Economic Communities and Regional Mechanisms, held in Nairobi from 13 to 16 July, adopted a resolution aimed at accelerating the continent’s integration, both politically and economically. In particular, due emphasis was placed on advancing the implementation of the African Union’s long-awaited flagship project – the African Continental…

Africa needs to focus on agri-business — Forum

June 1, 2023

| Agribusiness, News

By Morkporkpor Anku Accra, May 29, GNA – The seventh African Leadership Forum (ALF) has ended in Accra with participants urging African countries to focus on agri-business rather than agriculture. The Forum said agri-business encompassed agriculture and required a multifaceted approach across multiple stakeholders, including ministries beyond that of agriculture. Climate change. Dr Emmanuel Maliti, an Economist, iReview Limited, presenting…

Kenya revives push by African nations to ditch the dollar

May 30, 2023

Kenya’s President William Ruto has asked African leaders to take first steps towards ditching the globally-bullish US dollar by signing up to a pan-African payments system to facilitate trade within the continent. Ruto has urged his peers in Africa to mobilise central and commercial banks to join Pan-African Payments and Settlement System (PAPSS) which was launched in January 2022….

AfDB to establish entrepreneurship banks for youth

May 29, 2023

| Financials, News Update

Summary The President of AfDB, Dr Akinwumi Adesina said the banks will access the critical financial resources to income generation projects run by the youth. The African Development Bank (AfDB) is seeking to establish youth entrepreneurship investment banks across the continent. The proposed financial institutions will finance young people’s innovations in creating wealth. This was announced on the sidelines…

Kikwete calls for repositioning agriculture to unlock Africa’s intra-trade

May 26, 2023

| Agribusiness, News Update

Accra. Delegates at the Africa Leadership Forum (ALF) have urged African countries to refocus on how to build a stronger supply value chain for agriculture on the grounds that the sector occupies the best opportunity to grow the highly needed intra-trade. Leaders and other participants noted that Africa is endowed with adequate arable land to contribute substantially to the…

Tanzania-US TRADE: Envoy touts mutual benefits

March 11, 2023

| Business, News

NEWLY appointed American Ambassador to Tanzania Michael Battle has listed his top priorities for promoting trade and investment between the two countries during his tenure in office. The former US Ambassador to the African Union said he would work with the government of Tanzania and its people to expand trade opportunities. According to him, all US ambassadors are responsible…

Africa requires new strategy to optimise investment – Yofi Grant

January 24, 2023

| Economy, News

Heads of African Investment Promotion Agencies, businessmen and women as well as academia will meet in Accra on Wednesday, January 25, to strategise on how African nations can add value to natural resources through Foreign Direct Investment (FDI) to boost their economies and create jobs. The discussions will be held during the First Assembly of African Investment Promotion Agencies…

EAC exports to Africa soar to $7.9 billion in 2021

January 23, 2023

| Business News

Summary Top EAC exports to Africa included precious stones, coffee, tea, cement, animal fats, mineral oils and iron and steel. Exports from the East African Community (EAC) bloc to Africa soared to $7.9 billion in 2021 in spite of Covid-19 impact. They comprised 42 percent share of the region’s total exports of goods to the world which was $18.7…

Africa’s resilience beyond the pandemic

June 20, 2022

The African continent has made steady progress over the last four decades – surviving high levels of poverty, various natural disasters (such as drought and floods), diseases, political instability and high levels of migration. And when the health pandemic struck, Africa’s resilience was tested yet again. COVID-19 pushed millions of households further into poverty due to its disruption of…

China’s trade ties with Africa continue to strengthen

June 10, 2022

| China-Africa relations

By Virusha SubbanPartner specialising in Customs and Trade, and Head of the Tax Practice, Baker McKenzie. Trade between China and Africa is growing. The General Administration of Customs of China recently noted that bilateral trade between China and Africa amounted to US$254.3 billion in 2021, an increase of 35.3% from 2020. In the first quarter of 2022, China’s Customs…

South Africa is ready to launch its own satellite: minister

June 9, 2022

| Tech Current Affairs

Communications minister Khumbudzo Ntshavheni says South Africa is ready to launch its first communications satellite as part of a growing push to expand internet connectivity. Speaking at the World Telecommunication Development Conference on Wednesday (8 June), Ntshavheni said the satellite will address both media and broadband connectivity objectives. It will also help entrench the country’s ‘technology and data sovereignty’,…

No number of challenges should stop AfCFTA’s implementation – Tanzanian president

May 31, 2022

President of the United Republic of Tanzania, Samia Suluhu Hassan, has said that no number of challenges should prevent Africa from going ahead with the African Continental Free Trade Area (AfCFTA), as the deal is the only hope of reviving economies in the region. She premised her comments on the fact that there is enormous opportunity for the continent…