Category Archives: Market

US Private Investment Initiatives Pump Billions Into Africa

How big is the U.S. commitment to Africa? Let us count the ways, says Victoria Whitney, chief operating officer of the Prosper Africa initiative, launched in 2018.  She says that in the past year, the initiative, which spans 17 U.S. government agencies, has facilitated more than $22 billion worth of deals in more than 30

Rapid COVID-19 Tests for Kenyan Truckers Revive African Economies

The International Organization for Migration is providing rapid COVID-19 tests to thousands of truck drivers across Kenya as part of an effort to reinvigorate regional economies in Eastern and Central Africa. Much of Africa’s multibillion-dollar cross-border trade has been halted because of the COVID-19 pandemic. Truck drivers identified as a high-risk group for spreading the

Pull Investments From Companies Not Committed to Environment, Pope Says

Pope Francis on Saturday urged people to pull investments from companies that are not committed to protecting the environment, adding his voice to calls for the economic model that emerges from the coronavirus pandemic to be a sustainable one. Francis spoke in a video message for an online event called “Countdown Global Launch, a Call

UN FAO Pledges $70 Million to Help Sudan Families

The United Nations Food and Agriculture Organization (FAO) has pledged $70 million to support 600,000 Sudanese families affected by severe flooding caused by record heavy rainfall this year. The FAO’s director of emergency response, Dominique Burgeon, told the agriculture ministry Wednesday in Khartoum that a joint assessment conducted by the FAO and the transitional government

Illicit Financial Flows Rob African Coffers of $89 Billion a Year

UN Conference on Trade and Development (UNCTAD ) economists say the vast sums of money flowing out of Africa through illegal, corrupt practices are undermining progress made by African countries to achieve the UN’s Sustainable Development Goals (SDGs) by 2030. UNCTAD’s just released Economic Development in Africa Report 2020 estimates illicit financial flows out of Africa are

Economists Urge New Economic System for South Sudan

While some South Sudanese experts recommend the government adopt a new economic system used by developing states to cut off black market currency exchange and stabilize skyrocketing prices, a new U.N. panel report says the real problem in South Sudan is deeply entrenched government corruption. South Sudan should switch to a developmental state economic system

Africa Looks to Tax Tech Giants as Economic Fallout From COVID Bites

Tax officials in Africa estimate that government revenues will drop between 10 and 30 percent in 2020 as a result of the economic fallout stemming from the coronavirus pandemic. But while businesses in the hospitality, construction and retail sectors have suffered, digital companies have boomed as more people stay home and conduct their activities online.

Experts: ECOWAS Decision to Close Borders with Mali Will Hurt Regional Trade, Stability

Members of the Economic Community of West African States, or ECOWAS, shut down all their land and air borders with Mali on Wednesday after its president announced his resignation following a military mutiny. ECOWAS said in a statement that it will als…