Africa: Flagship Economic Report Highlights Why Global Cooperation Is Key

[ad_1] The UN's World Economic Situation and Prospects report for 2024 projects a slowdown in global growth from an estimated 2.7 per cent in 2023 to 2.4 per cent in 2024. The flagship forecast launched in New York on Thursday indicates that last year's stronger-than-expected GDP growth coming out of the COVID-19 pandemic masked short-term risks and structural vulnerabilities in the world economy. The sombre short-term outlook is based on persistently high interest rates, further escalation of conflicts, sluggish international […]

January 5, 2024 2

Africa

Africa: Horn of Africa – a Conflict Evolving Around Berbera Port

[ad_1] A new deal granting landlocked Ethiopia access to a seaport holds potential for a huge upheaval in the Horn of Africa. The breakaway region of Somaliland finds itself in a make-or-break situation. Under different circumstances, the kind of deal agreed between Ethiopia and the breakaway region of Somaliland would have been fairly straightforward. One country grants its landlocked neighbor access to a seaport and by extension to international trade -- and in return is rewarded a political prize. But […]

January 5, 2024 1

Africa

Africa: 2024 – a Year of Cautious Hope for African Economies Facing Worldwide Challenges

[ad_1] The continent's economic growth is expected to inch up to 3.5 per cent As African economies look to the new year, countries across the continent are poised to make moderate economic gains but must navigate the maze of domestic and international challenges. According to the UN World Economic Situation and Prospects (WESP) 2024, the continent's economic growth is expected to quicken slightly, with average GDP possibly inching up to 3.5 per cent. Yet, debt sustainability concerns, fiscal pressures, and […]

January 5, 2024 2

Africa

Africa: Top 10 Richest People in Africa At the Start of 2024

[ad_1] Business Insider Africa, a Pan-African innovative business news provider, has presented - courtesy of the Forbes real-time billionaires list - the top 10 richest people in Africa at the start of 2024. The Forbes Daily billionaires ranking platform tracks daily changes to the net worth of the most high-net-worth individuals across the globe. As noted, the figures availed represent the net worth of the entrants as of January 1, 2024. Johann Rupert and family heads into the new year […]

January 4, 2024 1

Africa

Africa: A Quick Look At Africa 2024 Through GDP’s

[ad_1] With the arrival of 2024, various financial institutions have disclosed their projections for the African continent in the new fiscal year. In line with the predictions of experts, there is a growth expectation of 4.2% in the general perspective for the African continent (IMF). Private consumption and investment are predicted to drive an acceleration in gross domestic product (GDP) for roughly 80 per cent of countries by 2024. While the growth rate in the continental economy was 3.9 per […]

January 4, 2024 1

Africa

Africa: Artificial intelligence Expert Warns of ‘Digital Colonization’ in Africa

[ad_1] Artificial intelligence (AI) is ripe to help resolve certain major problems in Africa, from farming to the health sector, but Senegalese expert Seydina Moussa Ndiaye is warning of a new "colonization" of the continent by this new technology if foreign companies continue to feed on African data without involving local actors. One of 38 people members of the new UN advisory body on machine learning, Mr. Ndiaye spoke with UN News about the landscape ahead, building on his experience […]

January 4, 2024 1

Africa

Africa: The African Union’s Fight for Relevance in 2024

[ad_1] The AU must guard against mirroring the weaknesses of its predecessor - the Organisation of African Unity. The African Union (AU) isn't living up to expectations - and member states are partly to blame, according to AU Commission (AUC) Chairperson Moussa Faki Mahamat. He says they're using their sovereignty to avoid relegating powers to the commission. As the sum of all individual African countries, the AU's strength depends on the power member states give it to implement their decisions. […]

January 3, 2024 2

News

Zimbabwe: SA Border Management Authority Boss to Tour Beitbridge

[ad_1] Beitbridge Bureau South Africa's head of the Border Management Authority (BMA), Dr Mike Masiapato will tomorrow visit the Beitbridge border post to facilitate a speedy flow of traffic as the festive season winds up. Already Zimbabwean border officials have started to clear more travellers heading to South Africa, starting on New Year's Eve. These include South Africans, Malawians, Zambians, Zimbabweans and international travellers. The BMA is the new entity that coordinates operations at South Africa's ports of entry. Immigration […]

January 3, 2024 2

Africa

Africa: Airtel Africa CEO Ogunsanya Retires Effective With Effect From July 1, 2024

[ad_1] Having served for over 12 years at Airtel Africa Plc where he rose to the rank of chief executive officer (CEO), Olusegun Ogunsanya -- popularly addressed as 'Segun' -- will retire from the his position with effect from July 1, 2024. But he still remains in the business family as Ogunsanya will become the Airtel Africa Charitable Foundation's inaugural chairperson -- which is set to accelerate the company's commitment to its sustainability initiatives and charitable operations across its locations […]

January 3, 2024 2

Business and Finance