Africa: Onerous Debt Making Poorest Poorer

[ad_1] Kuala Lumpur, Malaysia — Contractionary economic trends since 2008 and 'geopolitical' conflicts subverting international cooperation have worsened world conditions, especially in the poorest countries, mainly in Africa, leaving their poor worse off. Conditions and prospects are so bad that two well-known globalisation cheerleaders have appealed to rich nations for urgent action. Former IMF Deputy Managing Director and World Bank Senior Vice-President, Professor Anne Krueger and influential Financial Times columnist Martin Wolf warn ominously of the dire consequences of inaction. […]

February 2, 2024 1

Africa

Africa: ‘We’re Drowning in Plastic – We Need More Plastics Treaties’

[ad_1] From January 23 to 25, South Africa hosted the first in-person meeting of international Plastics Pacts with twelve (of the fourteen) national and regional Plastics Pacts meeting. The Plastic Pacts are an example of a Public-Private Partnership (often called a Voluntary Agreement) which have been adopted by many nations ahead of the United Nations Global Treaty to end plastic pollution. Pact members include major fast moving consumer goods brands, packaging companies, producers, traders, processors, academia, trade associations, NGOs, and […]

February 2, 2024 2

News

Kenya: Corporate Sector Lauded for Aiding Growth of Golf Clubs in Kenya

[ad_1] Nairobi — The corporate sector in Kenya have been exalted for their consistent support to golf clubs around the country through regular tournaments to generate revenue. Kenya Golf Union (KGU) executive Jonathan Marucha said such tournaments are an opportunity for golf clubs to make money through entry fees. "As you know, golf clubs are non-profit entities...we don't make any profits from our activities so when we get partners it really gives us a big boost in terms of getting […]

February 1, 2024 1

Africa

African Countries Are Struggling With High Debt, Demands to Spend More and Collapsing Currencies – the Policy Fixes That Could Help

[ad_1] Highly indebted African countries are facing stark trade-offs between servicing expensive debt, supporting high and growing development needs, and stabilising domestic currencies. Government debt has risen in at least 40 African countries over the past decade. As a result, some are experiencing a bad combination of high debt, elevated development spending needs amid budget shortfalls, and unfavourable exchange rate pressures. These issues have become more pressing since 2022, when persistently high inflation prompted major central banks around the world […]

February 1, 2024

Africa

Africa: Let’s Encourage Free Trade, Movement in Africa!

[ad_1] Transport and logistics infrastructure are an integral component in the implementation of the AfCFTA ideals. It not only provides access to consumer markets, connects raw materials to beneficiary markets, promotes regional integration, but also improves connectivity to the global economy. It is always sad to come to the reality that African nations are still creating barriers, thus shutting their doors to development. Europe and other advanced nations were able to first deal with investment and free trade zones in […]

January 31, 2024 3

Africa

Africa: Intensify Continental Trade to Unlock U.S.$450 Billion AfCFTA Income – President Akufo-Addo

[ad_1] The President of the Republic, Nana Addo Dankwa Akufo-Addo, has called on fellow Heads of States and the global business community to focus on unleashing the 450bn United States dollars AfCFTA-driven potential income, that stands to be accrued from continental trade by 2035. President Akufo-Addo also believes that, a one percent increase in Africa's share of global trade from two percent to three percent could generate some seventy billion United States dollars of additional income per annum for the […]

January 31, 2024 1

Africa

Africa Caribbean SMEs Network and Investment Group (Acsmen)

[ad_1] Monrovia — The Africa Caribbean SMEs Network and Investment Group (ACSMEN) has announced its innovative approach towards employment, which aims at empowering Liberians and building a new generation of successful business owners. The organization is employing intrapreneurs who will drive innovation and creativity to inspire many young people towards self-sufficiency through knowledge and skills acquisition. With its African headquarters set to launch in Liberia by April 2024, ACSMEN is committed to making a positive impact on the country and […]

January 31, 2024

Africa

Africa: Online Press Briefing with Assistant Secretary of State for African Affairs, Molly Phee

[ad_1] Washington, DC — MODERATOR: Good afternoon from the State Department’s Brussels Media Hub. I would like to welcome everyone joining us for today’s virtual press briefing. We are very honored to be joined by the Assistant Secretary in the Bureau of African Affairs, Molly Phee. A quick reminder that today’s briefing is on the record. And with that, why don’t we go ahead and get started. Assistant Secretary Phee, thank you so much for joining us today. I’ll turn […]

January 31, 2024 3

Africa

Africa: Well-Developed Africa Mutually Beneficial to Europe, Rest of the World – Pres Akufo-Addo

[ad_1] The President of the Republic, Nana Addo Dankwa Akufo-Addo, has called on world leaders to recognize that the increasing levels of inter-dependency amongst the comity of nations translates into shared destinies, whether good or bad, across the globe. Speaking at the annual Africa Day event, on Tuesday, 30th January, 2024, Vienna, Austria, President Akufo-Addo told the gathering of global leaders that, he believes a well-developed and prosperous Africa would be good, not just for us Africa, but also for […]

January 31, 2024 2

Business and Finance