Africa > Central Africa > Business / Trade

Business / Trade in Central Africa

  • 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.
  • 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.
  • South Africa Angola Review Bilateral Relations

    ANGOLA, 2017/07/16 South Africa and Angola are set to review evolution made in the consolidation of their bilateral relations, inclunding the implementation of bilateral projects. The two nations will as well exchange views on current regional and international issues of mutual concern at the same time as they meet in Luanda, Angola, for the fourth Session of the Joint Commission for Cooperation (JCC).
  • 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.
  • 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.
  • Historically, oil, gas and petroleum products have dominated US imports from sub-Saharan Africa

    UNITED STATES, 2017/03/07 To develop effective trade patterns, Africa must embrace structural and regulatory reforms and enhance financial integration to accelerate efforts that have led to increased exchanges with emerging nations in the rest of the world and between its own nations and regions. African nations must foster macro-economic stability and improve the investment environment to strengthen the role of pan-African banks in facilitating trade finance and boosting capital markets. Success in stimulating trade and increase depends on the policy and investment climate, depth of financial integration and commitment to reform.
  • COMESA Remains World’s Fastest Growing Global Economic Bloc

    AFRICA, 2016/11/04 The Common Market for Eastern and Southern Africa (COMESA) bloc, which is a free trade area with twenty member states, remains the fastest growing economy in the world despite a drop in in general increase, according to a recent newsletter published by the organization. The newsletter states that five of its member states recorded the highest levels of increase between 2014 and 2015, inclunding the Democratic Republic of Congo, Ethiopia, Kenya, Rwanda, and Uganda, which all recorded 5-10 % increase. The increase was due to increased private consumption and investment , and the average in general investment as a % of gross domestic product (GDP) in COMESA increased from 24.6 % in 2014 to 26.3 % in 2015.
  • African nations open for diplomatic ties, business with Israel

    ISRAEL, 2016/11/02 Some African capitals have been signaling to Israeli officials a desire to deepen ties for several years, and are frustrated that Jerusalem has not responded faster.
  • Rwanda, DR Congo sign deal to ease cross-border trade

    CONGO KINSHASA, 2016/10/29 Rwanda and DR Congo have signed a new agreement establishing a framework for bilateral cooperation in the area of cross-border trade and elimination of non-tariff barriers. Officials in charge of trade from both nations signed the memorandum of considerate (MoU), recently in Rubavu District, during the official launch of the Common Market for Eastern and Southern Africa Simplified Trade Regime (COMESA STR). According to officials, the move seeks to relieve small-scale trade by waiving import business on products whose worth is below $2000 (about Rwf1.6 million).