AfCFTA implementation postponed due to coronavirus
Businessam Staff
April 29, 2020
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
Samson EchenimFebruary 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
Omobayo AzeezFebruary 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
Businessam StaffJanuary 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
Kenneth AforJanuary 30, 2020
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 […]
African airlines harp on intra-continental connectivity
Businessam StaffDecember 17, 2019
By Samson Echenim
Nigeria has not flouted ECOWAS pact over border closure – DTBE
Businessam StaffNovember 4, 2019
Nigeria has not violated the free movement of people guaranteed under the Economic Community of West African States (ECOWAS) Treaty over its decision to close land borders to reduce crime, especially smuggling. This was part of the resolutions of the Daily Trust Board of Economists’ emergency meeting in Abuja contained in a communiqué signed by […]
‘As African leaders meet on growth, leading economies are a drag’
Businessam StaffSeptember 4, 2019
As leaders of African nations meet Wednesday and Thursday to discuss growth, the two nations that account for almost half of sub-Saharan Africa’s gross domestic product are proving to be a damper on the region’s economic expansion. Nigeria and South Africa, which vie with each other to be the continent’s biggest economy, both released second-quarter […]
28th WEF Africa to address inclusive growth
Businessam StaffSeptember 3, 2019
The twenty-eighth World Economic Forum on Africa (WEF Africa) will focus on inclusive growth in the Fourth Industrial Revolution (4IR). Discussions scheduled for the forum, aim at finding ways to achieve sustainable growth in a country with high levels of inequality, corruption and unemployment. Elsie Kanza, WEF Africa head during a pre-WEF Africa press conference, […]
How Egypt plans to deepen financial markets with CONIA
Adesola AfolabiAugust 15, 2019
The Egyptian monetary authority has announced steps taken to reposition its financial markets through the introduction of CONIA, the Cairo Overnight Interbank Average benchmark. Rami Abulnaga, sub-governor for markets and external relations at the Central Bank of Egypt, welcomed the introduction of CONIA as “an important milestone to support money market reform that is consistent […]