Alain Ebobissé, CASABLANCA – For Africa, the COVID-19 pandemic will likely mean negative GDP growth at unprecedented rates. In addition, several African countries are dealing with the aftermath of a commodity price collapse – another key contributor to current recessionary trends. The continent must now navigate economic recovery while building resilience to future shocks. From strengthening the healthcare […]
IsDB President Dr. Bandar Hajjar and M. Sunil Kaushal, CEO for Africa and Middle East, Standard Chartered Bank (SCB), signed a Memorandum of Agreement to participate in IsDB’s Restore Track Program aimed to supporting IsDB’s member countries’ private sector through stimulus packages to the economic sectors most impacted by the CoVID19 pandemic. This agreement leverages […]
Taiwan is hosting its first ever Trade Fair in Somaliland on Wednesday in the capital Hargeisa. The Asian nation is using the two day trade fair to showcase its products to Somalilanders and the Horn of Africa. The Expo has been dubbed 2020 Taiwan Trade Fair-From Somaliland to East Africa. The Trade Fair has been […]
The Bank of Uganda, at the Monetary Policy Committee (MPC) meeting of October 2020 has maintained the Central Bank Rate (CBR) at 7 per cent. The high-frequency indicators for economic activity in the quarter to September 2020, point to a mild recovery of economic activity with estimated growth of 2 per cent from a sharp […]
Overview This Virtual Summit, the first and the largest of its kind convenes thousands of c-suite executives and decision-makers at African businesses, large and small, to present to you, from the highest ranks, the ways in which the U.S. can assist in growing your businesses through trade, investment, and technical assistance. Objective Designed specifically to […]
Stephen S. Roach NEW HAVEN – The US dollar has now entered the early stages of what looks to be a sharp descent. The dollar’s real effective exchange rate (REER) fell 4.3% in the four months ending in August. The decline has been even steeper as measured by other indexes, but the REER is what matters most for […]
BY Samuel Nabwiiso. The Government of Uganda through the Uganda Free Zones Authority (UFZA) has inaugurated the construction of the first public Free Zone in Uganda. The free zone facility is established at Entebbe International Airport and it’s estimated to cost Government UGX48 Billion. Upon construction completion whose construction is said to last for 6 […]
Adesina – “Let us move forward, driven by the power of our mission, inspired by the primacy of our vision and emboldened by the strength of our togetherness” Abidjan, Côte d’Ivoire, 1 September 2020 – “Today, a rainbow stretches from the 81 member countries of the African Development Bank across the deep blue skies of Africa…The […]
Abidjan, Côte d’Ivoire, 26 August 2020 – The 55th Annual Meetings of the African Development Bank and the 46th meetings of the Board of Governors of the African Development Fund (ADF) began in Abidjan, Côte d’Ivoire, on Wednesday, 26 August 2020. In his opening speech, the President of Côte d’Ivoire, Alassane Ouattara, highlighted the unusual […]
For the first time in the history of the African Development Bank, its Annual Meetings will be held virtually to comply with the COVID-19 pandemic-related social-distancing guidelines. The Governors’ Dialogue and the election of a president will be top of the agenda of the upcoming Meetings scheduled for 26-27 August 2020. This year, which marks […]
Nouriel Roubini NEW YORK – The recent sharp depreciation of the US dollar has led to concerns that it may lose its role as the main global reserve currency. After all, in addition to the US Federal Reserve’s aggressive monetary easing – which threatens to debase the world’s key fiat currency even further – gold prices and […]
Patrick Njoroge NAIROBI – “We are experiencing the sharpest decline in per capita income since 1870,” United Nations Secretary-General (UNSG) António Guterres pointed out in a recent speech, warning that the COVID-19 crisis has put 70-100 million people at risk of being pushed into extreme poverty. Preventing that outcome will require concerted and comprehensive action to reboot and rebuild the […]
Kampala Uganda 19/8/2020, The Uganda Bureau of Statistics (UBOS) in conjunction with the World Bank launched its preliminary results from the first High Frequency Phone COVID 19 business survey report. The launching of the report was presided over by the Executive Director of the bureau Mr. Chris N Mukisa and a representative from the World […]