Afreximbank, AU move 2nd Intra-African Trade Fair to December 2021

March 22, 2021

…Covid-19 vaccines roll-out cited for date shift …Inaugural fair recorded $32.6bn concluded deals …Organizers refrain from adducing expected deals   Ben Eguzozie   The African Export-Import Bank (Afreximbank) and African Union (AU), major promoters of the intra-African trade fair, have shifted the date of the second edition of the recently introduced continental trade exhibition to […]

After the commissioning and handing over of the AfCFTA office by the president of Ghana to the AU, what next for Nigeria and West Africa?

Aderemi OjekunleAugust 27, 2020

AfCFTA office

Charles Abuede   Africa, a continent of 55 countries that can boast of over $2.6 trillion in combined GDP, and having 54 countries signing up to the African Continental Free Trade Agreement (AfCFTA) and just 33 of them ratifying the signed agreement, what becomes next of the West African sub-region now that the president of […]

Africa moves towards one big market as AU inaugurates AfCFTA permanent secretariat

Aderemi OjekunleAugust 19, 2020

By Omobayo Azeez The ambition of African countries to make the continent one big market has just received another boost following the inauguration of the permanent secretariat for the African Continental Free Trade Area (AfCFTA) on Monday. At a ceremony to commission the permanent secretariat Ghana’s President Nana Akufo-Addo and Moussa Faki Mahamat, chairperson of […]

East Africa remains Africa’s strongest economy despite COVID-19 growth cut

July 15, 2020

East Africa remains Africa’s strongest economy despite COVID-19 growth cut

Economic disruption caused by the COVID-19 pandemic has pushed East Africa’s growth projection for 2020 down to 1.2 percent, but it remains a rate that outstrips other African regions and is forecast to rebound to 3.7 percent in 2021, according to the African Development Bank’s East Africa Regional Economic Outlook 2020. The projection is under […]

AfCFTA implementation postponed due to coronavirus

April 29, 2020

AfCFTA implementation postponed due to coronavirus

The implementation of the African Continental Free Trade Area (AfCFTA) agreement will not begin on July 1st this year as planned due to disruptions caused by the novel coronavirus (COVID-19) global pandemic. Wamkele Mene, newly elected secretary-general of AfCFTA secretariat stated this in a conference call. “It is obviously not possible to commence trade as […]

Malpass, World Bank president, wrong, says AfDB on its role in Africa’s debt profile  

February 13, 2020

By Samson Echenim The African Development Bank (AfDB) has described as inaccurate, alleged statement by World Bank President, David Malpass that the continental bank’s tendency to quickly lend to member countries was growing Africa’s debt profile. In several recent news reports, Malpass was quoted as saying “some multilateral development banks, including the African Development Bank, […]

Africa’s GDP growth must reflect in continent’s economy, says AfDB 

February 4, 2020

By Omobayo Azeez As report indicates that the general Africa’s economy is on growth path, Akinwumi Adesina, president of the Development Bank (AfDB) has called for inclusive growth that touches the lives of individuals in the continent. While unveiling The 2020 African Economic Outlook (AEO) report in Abidjan, Ivory Coast on Monday, Adesina stressed that except […]

Africa’s economy to grow at 3.9% in 2020 – AfDB

January 31, 2020

As Adesina urges youth employment priority   AfDB President, Akinwumi Adesina Emma Ujah The African Development Bank (AfDB) has projected Africa’s economy would grow at 3.9 per cent in 2020. This was contained in its 2020 Africa Economic Outlook launched in Abidjan, Cote d’Ivoire, Thursday. “Africa’s economic growth remained stable in 2019 at 3.4 per […]

USAID donates $60m to businesses in West Africa

January 30, 2020

USAID donates $60m to businesses in West Africa

Kenneth Afor The United States Agency for International Development (USAID) has donated $60 million to businesses in West Africa to boost trading and investment in the region. This was made known by Mary Leonard, United States ambassador to Nigeria during the launch of the West African Trade Hub in Abuja recently. The grant, according to […]