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Business / Trade in West Africa

  • France's Macron outlines new approach to African policy

    FRANCE, 2017/11/29 French President Emmanuel Macron has outlined a new approach to relations with Africa as he begins a regional trip starting with Burkina Faso. He said he was "from a generation that would not tell Africans what to do". He as well said he would declassify secret French files on the former colony's assassinated leader, Thomas Sankara. Mr Macron is on a three-day trip in West Africa, taking in Burkina Faso, a European-African summit in Ivory Coast and Ghana.
  • Quattara Commends Buhari Over Nigeria's Recession Exit

    NIGERIA, 2017/11/01 President Alhasan Quattara of Cote d'voire on Monday in Abuja commended President Muhammadu Buhari for taking Nigeria out of recession. Mr. Quattara gave the commendation at the same time as he addressed National Home correspondents next a closed-door conference with Buhari at the Presidential Villa.
  • Nigeria-Cameroon Clash: Senate Probes Border Crisis

    CAMEROON, 2017/10/21 The Nigerian Senate has begun an investigation into the violent clashes between border communities in Nigeria and Cameroon. According to reports, the recent clashes have resulted in the loss of lives and properties of innocent Nigerians. The Senate, however, mandated its committees on Police Affairs and National Security to probe the matter. The resolution yesterday was sequel to a point of order raised by Senator John Enoh, APC, Cross River Central. According to Enoh, it was the business of the Nigerian government to protect its citizens from internal and external aggression, lamenting that the affected people from his political jurisdiction had been abandoned to face operations from the Cameroonian aggressors.
  • Osinbajo seeks greater integration of African economies

    NIGERIA, 2017/10/16 Vice President Yemi Osinbajo has called for better integration of African economies to enable the continent develop free trade part AU member nations. Osinbajo made the call at the inaugural conference of the Africa Champions Group, an initiative of business and manufacturing stakeholders in the continent, on Saturday in Lagos.
  • China welcomes Guinea to take part in Belt and Road Initiative

    CHINA, 2017/09/07 China welcomes Guinea to participate in the Belt and Road Initiative, a move that will benefit the peoples of both nations, Chinese President Xi Jinping told his Guinean counterpart Alpha Conde on Tuesday. Conde is in the southeastern coastal city Xiamen to attend the Dialogue of Emerging Market and Developing Nations on the sidelines of the ninth BRICS summit.
  • Africa: USA-Africa - No Policy? Bad Policy? or Both?

    BOTSWANA, 2017/08/30 "Africa is terra incognita for the Trump Government: a continent it cares little - and understands even less - about. With no dyed-in-the-wool Trumpian Africa hands available, the government appears ready to cede Africa policy making to career civil servants and a few mainstream Republican appointees." - Matthew T. Page The headline to Page's article in Quartz Africa states that "Donald Trump could be getting his US-Africa policy right by simply not having one." His view is actually additional nuanced, in judging that no policy would likely be only "less bad" than explicitly "bad policy" that may result from better White Home interest in Africa.
  • Africa: 'Market Information Gap Threatens U.S.$400 Billion Intra-Africa Trade'

    BOTSWANA, 2017/07/14 Access to data across African economies, which has been hindered by the fragmented nature of the respective markets, is currently threatening a $400 billion intra-Africa trade potential. Africa Export-Import Bank (Afreximbank) said the present transactions price at $170 billion remained their due to wide gap in market data, which presently needs to be closed to foster accelerated trade integration. Meanwhile, the size of intra-African trade could be doubled from the current level of about $170 billion per year to almost $400 billion by addressing the issue of availability of market data on the continent.
  • Russia And Nigeria Deepen Economic, Political Ties

    RUSSIA, 2017/07/09 Russia and Nigeria have taken steps to deepen their economic and political ties, next Foreign Minister of the Federal Republic of Nigeria, Geoffrey Onyeama, held diplomatic talks with his counterpart, Sergei Lavrov, during an official working visit to Moscow on May 29-31. Lavrov held talks with Onyeama and his delegation on May 30. The foreign ministers discussed issues pertaining to the steady development of bilateral ties in political, trade, economic and humanitarian areas. They concentrated on prospects of cooperation in the nuclear industry, hydrocarbon processing, infrastructure projects and exports of Russian industrial products to Nigeria.
  • Tripartite Free Trade Area plods along slowly in Africa

    BOTSWANA, 2017/06/24 Trade between African nations has long been outstripped by intra-regional trade in other parts of the world – for Africa as a whole, intra-regional trade is between 10% and 13% of total trade. This is far lower than in regions such as the EU, where about 60% of trade is between member states, and the Association of South-east Asian Nations, which has a rate of about 25%. Intra-regional trade in North America is put at about 40%. However, the ratification of the Tripartite Free Trade Sector(TFTA) – potentially later in 2017 – could help change that and push the development of additional intra-regional trade increase. A pan-regional free-trade zone, the TFTA stretches from Cairo to Cape Town and encompasses 26 African nations. Africa’s Tripartite Free Trade Area would reduce regional tariffs and create a pan-African single market, to aid development and cash in on a growing middle class in the continent. But with member countries often belonging to multiple economic areas, progress is both complex and slow, as Kit Gillet reports.  
  • Importers threaten to increase prices of goods if government implements tax to fund African Union

    BOTSWANA, 2017/06/15 Importers have threatened to increase the prices of goods if the government implements the 0.2% import tax to fund the AU. Mr Samson Awingobit Asaki, Executive Secretary of the Importers and Exporters Association, told the Ghana News Agency that the implementation of the tax would increase the cost of operation for importers. Mr Asaki added that at the same time as it happens like that, they would have no other choice than to transfer the cost onto the prices of goods for the consumers.