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Africa boasts immense economic potential, yet this potential has long been constrained by trade and payment barriers. According to the African Development Bank (AfDB), nearly half of intra-African trade settlements rely on foreign banks and the US dollar, highlighting the …
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In recent times, Nigeria has witnessed a surge in the demand for manufactured goods due to its growing population and current position as home to about 50 million middle-class citizens.
However, the Nigerian manufacturing sector has struggled to keep up …
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Despite the potential of digitalization in achieving regional integration, Africa experiences relatively slow adoption. Delays in clearing goods at countries’ borders and ports impede their timely and cost-efficient movement across the continent. Sub-Saharan Africa ranks lower in the border logistic …
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Attempts to remove petrol subsidy by past administrations triggered protests and stiff resistance. After swearing-in on May 29, the President Bola Tinubu’s administration removed fuel subsidy in Nigeria. Nigeria’s refineries are non-functional thereby necessitating the continuous importation of refined petroleum. …
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According to a report by the World Bank, soaring food prices hit an all-time high in Africa as countries across the continent face double-digit food inflation. Nigeria is at the forefront of countries facing the food inflation crisis. Over …
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In February 2023, African leaders convened in Addis Ababa to discuss implementing the continental free trade agreement. The summit was an event of the 36th Ordinary Assembly of the African Union (AU) session. Talk followed sustained violence in the Sahel, …
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During President Biden’s closing remarks at the U.S.-Africa summit held in December, he stated that “Africa has the potential to feed its people and help feed the world.” Although framed with a positive spin, the inference of Biden’s statement refers …
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The implementation of the African Continental Free Trade Area (AfCFTA) has the potential to revolutionize the continent’s economy and spur innovation. The primary goals of the AfCFTA, which has been signed by 54 African states, is to increase the amount …
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Africa celebrated the official launch of the world’s largest customs union – the African Continental Free Trade Area (AfCFTA) – a little over a year ago, ushering in a new era of pan-African trade.
But this is just a step
COVID-19 has caused unprecedented challenges in every region of the world. Africa has been particularly hard hit due to the continent’s frail health sector and lack of decent infrastructure. While these underlying characteristics have presented a unique set of challenges, …
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