Nigeria, China have announced they will conduct a currency swap amounting to nearly $2.4 billion, making trade between the two countries less reliant on the US dollar.Read more
The used clothes cast off by Americans and sold in bulk in African nations, a multimillion-dollar business, have been blamed in part for undermining local textile industries. Now Rwanda has taken action, raising tariffs on the clothing in defiance of U.S. pressure. In response, the U.S. says it will suspend duty-free status for clothing manufactured in Rwanda under the trade program known as the African Growth and Opportunity Act.Read more
SA companies leading integration across Africa
Apr 04 2018 21:00 Lameez Omarjee
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Cape Town – South African companies are leading the way to support economic integration across Africa, research by the Boston Consulting Group (BCG) has found.
The research report released on Tuesday, titled Pioneering One Africa: African Corporations Trail-Blazing Across the Continent, shows that economic integration across Africa is increasing.
The primary drivers of the integration are by companies within the continent, according to the report. BCG identified 150 companies supporting integration in the continent. Among the 75 companies in Africa, 32 are based in South Africa and are contributing to integration on the continent.Read more
But Nigeria is among the protectionist holdoutsRead more
African leaders on Wednesday signed what is being called the largest free trade agreement since the creation of the World Trade Organization.Read more
Turns out Rex Tillerson’s voyage to Africa was the trip of no return. His tenure as secretary of state is finally ending, but with a whimper. His last hurrah as the top U.S. diplomat came in the form of a half-baked tour to Djibouti, Kenya, Chad, Nigeria and Ethiopia — all key U.S. allies on security and counter-terrorism.Read more
Opening up the continent’s skies could be a huge coup for African airlines, which would work under a common regulatory framework.
It could also benefit intra-continental travelers who are often bound to illogical and time-consuming routes via Europe and the Middle East when flying between African countries.Read more
The hack wasn’t detected until Jan. 2017 when technicians noticed that between midnight and 2 am every night, there was a peak in data usage even though the building was empty. After investigating, it was found that the continental organization’s confidential data was being copied on to servers in Shanghai.Read more
At a time when Americans are again debating how slavery and the Civil War are memorialized, Benin and other West African nations are struggling to resolve their own legacies of complicity in the trade. Benin’s conflict over slavery is particularly intense.Read more
The President of the National House Chiefs and Paramount Chief of Asogli Traditional Area, Togbui Afede XIV, says US President, Donald Trump’s description of African nations as ‘shithole countries’ is a manifestation of the level of corruption and under-development seen in African countries.Read more