Economy in North Africa

  • Sudan seeks to revive economy after US sanctions end

    SUDAN, 2017/11/29 Khartoum businessmen say they have begun closing deals with US companies next Washington lifted 20-year-old trade sanctions. Sudan's government and its businesses have begun introducing financial reforms and lobbying for new investment to revive the economy next Washington lifted 20-year-old trade sanctions before this month. Sudan has suffered both from the sanctions and from the secession of the south in 2011, at the same time as it lost three-quarters of its oil output, its major source of foreign currency.
  • Egypt economy likely to remain unshaken by Sinai attack

    EGYPT, 2017/11/29 The mosque attack in Egypt's Sinai may only strengthen the view that the country needs continued IMF support as agreed a year ago and the economy is likely to quickly shake off any negative repercussions, economists say. Gunmen carrying the flag of Islamic National killed additional than 300 worshippers in the attack on the mosque, the worst such attack by militants in Egypt's modern history.
  • More funding in the pipeline as Egypt’s economic reforms yield results

    EGYPT, 2017/11/11 Egypt is continuing its programme of fiscal consolidation, exchange rate liberalisation and pro-investment reform, with the country expected to receive an extra multibillion-dollar tranche of funds from creditors following a year-end review. In September the IMF released a statement stating that Egypt had made a “good start” to its $12bn loan transaction, with the fund noting that reforms had helped boost increase, rein in the budget deficit and eliminate foreign currency shortages that were before putting pressure on a lot of businesses.
  • Africa’s Growth: Nobel Laureate Joseph Stiglitz Calls For New Strategy

    BOTSWANA, 2017/10/19 Joseph Stiglitz has advised African nations to adopt coordinated strategy encompassing agriculture, manufacturing, mining, and service sectors to attain same success delivered by the old manufacturing export-led strategy. Prof. Stiglitz, an economist and professor at Columbia University, New York, gave the advice at the Babacar Ndiaye lecture series introduced by African Export-Import Bank (Afreximbank) which debuted in Washington D.C.
  • Egypt sets priorities for 2018 African Caucus

    EGYPT, 2017/10/17 Egypt’s will prioritize investment , governance and youth economic empowerment next officially assuming presidency of the African Caucus for 2018, its Minister of Investment , Sahar Nasr said on Monday.Nasr made the statement as she took part in a conference held between World Bank President Jim Yong Kim and central bank governors from African nations over reshaping economies in the wake of troubled international trade.
  • Africa Convergence: Towards Africa's economic growth

    BOTSWANA, 2017/10/05 To surpass the current physical and mental borders which are hindering the development of the African continent, conference the digital challenge to achieve an Integrated and sustainable economy for increase. This was the issue on the schedule of the second Africa Convergence Conference was attended by about 30 speakers from all sectors of activity and about 300 CEOs for an unprecedented dialogue on the next of the continent. As well on the table for discussion was : regional integration, financing, unearthing talents and emerging issues related to the harmonization of economies.
  • Africa’s economic growth in 2016 was driven by East Africa

    BOTSWANA, 2017/08/20 While the continent’s major economies were hit by the fall in commodity prices in 2016, Africa retained its position as the second-fastest growing continent globally recording an average of 2.2% GDP increase, behind only South Asia, according to the African Development Bank Group (AfDB). Much of Africa’s increase in 2016, AfDB says, was driven by East Africa where several nations recorded “strong performances.” In general, of the continent’s sub-regions, East Africa posted the highest increase rate with 5.3%, led by Ethiopia.
  • Africa: G20 Should Build Digital Economy Friendly to Growth, Jobs - Xi

    CHINA, 2017/07/10 Chinese President Xi Jinping says the Group of 20 (G20) members should build a digital economy that is friendly to increase and employment. He made the remarks while attending the two-day G20 summit in the German port city of Hamburg. "We should actively adapt ourselves to digital evolution, foster new economic drives, advance structural reforms and promote integrated development of digital and real economy," said President Xi.
  • Global economic gravity rapidly pulling towards Africa

    BOTSWANA, 2017/06/20 The second International Conference on the Emergence of Africa (ICEA) was held in Abidjan, Côte d’Ivoire, in March 2017. Since the initial conference in 2015 — at a time of robust economic increase on the continent — hopes for economic evolution have dimmed because of a crash in the price of commodities, volatile world financial markets and a slowdown in world increase. Before departing New York to attend the second ICEA conference, jointly organised by the World Bank, the African Development Bank and the United Nations Development Programme (UNDP), Assistant Secretary-General of the UN and chief of UNDP’s Regional Bureau for Africa Abdoulaye Mar Dieye sat down for an interview with Africa Renewal’s Kingsley Ighobor to talk about Africa’s economic development opportunities and challenges.
  • Take responsibility for transforming your countries – Akufo-Addo

    BOTSWANA, 2017/06/15 President Nana Addo Dankwa Akufo-Addo has urged African leaders to assume responsibility for the transformation of their economies, and depart from the mindset of aid, dependency and charity. “If we, Africans, are to transform our stagnant, jobless economies, built on the export of raw materials and unrefined goods, to price-added economies that provide jobs, to build strong middle-class societies and lift the mass of our people out of dire poverty, again we must take our destinies into our own hands and assume responsibility for this,” he stated on Monday at the same time as addressing the G-20 Partnership for Africa Summit, currently taking place in Berlin, Germany.