The operational phase of the African Continental Free Trade Area (AfCFTA) marks a pivotal moment for the African Union’s vision of economic integration, representing the collective aspiration of African nations to foster trade, economic growth, and sustainable development across the continent. On July 7, 2019, at the 12th Extraordinary African Union Summit in Niamey, Niger, […]

South Africa’s tourism sector is witnessing an impressive resurgence, with Euromonitor International reporting a 40% increase in tourist arrivals in 2023, reaching over eight million visitors. This marks a significant milestone for the country, which is recovering from the impact of the COVID-19 pandemic, as it approaches nearly 90% of its pre-pandemic tourist numbers. Projections […]

A new report by the African Export-Import Bank (Afreximbank) reveals that East Africa is now the most indebted region on the continent. This growing debt crisis is affecting economic stability across African nations, triggering divestment, declining investor confidence, and threatening the region’s ability to service its loans. The issue of indebtedness has been compounded by […]

Introduction In the face of global economic and geopolitical instability, African nations are increasingly turning to gold as a hedge against financial uncertainty. This trend comes amid rising inflation, currency volatility, and concerns over the reliance on global financial systems. Gold, traditionally viewed as a safe-haven asset, has gained prominence in many African central banks’ […]

For decades, Nigeria, Africa’s largest economy, has been heavily reliant on its oil industry. However, with the global shift towards renewable energy and electric vehicles (EVs), the country is now eyeing the booming global lithium market as a potential new source of economic growth. With the world transitioning to cleaner energy sources, lithium, a key […]

The Federal Government of Nigeria has reassured citizens that the price of petrol will stabilize as supply increases across the country. This announcement comes amid concerns over rising fuel prices, which have put additional strain on the already challenged economy. Background: Deregulation of Nigeria’s Petroleum Sector In recent years, Nigeria has undergone significant changes in […]

On September 5, 2024, Ghana initiated a significant step in its economic recovery by inviting holders of approximately $13 billion in international bonds to participate in a restructuring offer. This move comes after a prolonged period of financial distress, exacerbated by a combination of internal and external factors, including the COVID-19 pandemic, the war in […]

In a landmark announcement at the Forum on China-Africa Cooperation (FOCAC) Summit, Chinese President Xi Jinping pledged $51 billion in fresh financing to Africa, promising to support 30 major infrastructure projects across the continent and create at least 1 million jobs. This substantial financial commitment underscores China’s deepening economic ties with Africa and its strategic […]

In a bold move that promises to reshape Nigeria’s foreign exchange landscape, President Bola Tinubu’s administration has introduced the ‘naira for crude’ initiative, which allows indigenous refineries to purchase crude oil using either the naira or the U.S. dollar. This policy, praised by business magnate Aliko Dangote, is expected to significantly reduce the demand for […]

Introduction China and Africa have long enjoyed a robust economic and trade relationship, which has seen significant expansion and diversification over recent years. According to Assistant Minister of Commerce Tang Wenhong, Sino-African economic and trade cooperation has reached unprecedented levels since the 2021 Forum on China-Africa Cooperation (FOCAC). This collaboration has delivered tangible benefits across […]