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 …
Read MoreProduction
Uganda’s ‘Taxi Divas’ Rise From Covid-19’s Economic Gloom
The women grappled with each other inside the vehicle. The driver jerked to ease the grip around her neck, then turned to elbow her attacker in the back seat. She …
Read MoreIllicit 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 …
Read MoreEconomists 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 …
Read MoreWestern Libya Political Figures Appear to Nix Oil Deal
Opposition from top political figures in Libya’s U.N.-backed government in Tripoli to a deal announced Friday to resume the country’s oil production appears to have put the agreement on hold, …
Read MoreAfrica 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 …
Read MoreJapan-Owned Oil Tanker Breaks Apart off Mauritius Coast
A Japanese bulk carrier that struck a coral reef last month off the Mauritius coast broke apart Saturday afternoon, the country’s National Crisis Committee said in a statement. Images taken …
Read MoreSouth Sudan Central Bank Lowers Interest Rates in Response to COVID-19
South Sudan’s central bank took steps Wednesday to bolster the economy amid the COVID-19 lockdown, but an analyst warned the economy will only improve after the government restores peace and …
Read MoreAfrican Development Bank: ‘No Decision’ Yet on Demands for Probe
The African Development Bank (AfDB) on Thursday said “no decision” had been taken regarding a U.S. push for an outside probe into its chief, accused by whistleblowers of ethics breaches. …
Read MoreEast African Flower Industry Wilts as Sales to Europe Dry Up
Among its many other effects, the coronavirus pandemic has cut deeply into flower sales. This is being felt in the Netherlands, the center of the global horticulture industry, and in …
Read More