Mmegi online

African companies prefer trading with non-African countries, ignoring local FTAs

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African exports to other continents surpass the continent’s intercontinental trade, the United Nations Conference on Trade and Development (UNCTAD) has found, with Africans preferring import tariffs provided by the United States, European…
African News

Kenyan traders protest against Chinese competitors

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The demo comes in the wake of controversy elicited by the coming of China Square retail outlet of general merchandise whose prices are on average 45 percent lower than those prevailing in locally owned enterprises, local media reports. China…

World Bank projects that East Africa will get richer under African Continental Free Trade Area

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According to the World Bank, the African Continental Free Trade Area (AfCFTA) has been well-designed to strengthen the economies of East Africa. This will be accomplished, among other things, by lowering trade expenses related to trade…
Mmegi online

South Africa must priorities decarbonization, as $1.5bn of exports to EU are at risk

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South Africa should priorities its decarbonization strategy, as it has a carbon intensity much higher than most countries, and $1.5-billion of exports to the European Union (EU) are at risk in the short term. That figure is likely to increase…
IMF

Top 5 economies in Sub-Saharan Africa to watch out for in 2023, according to IMF

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Just when Africa’s economy appeared to be recovering from the COVID-19 pandemic, a range of internal and external shocks struck such as adverse weather conditions, and the Russian invasion of Ukraine – all of which worsened already rapidly…
Mmegi online

Moroccans struggle to secure basic needs as prices rocket

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Moroccans visiting this vegetable and fruits in the city of Sale have been finding it harder and harder to buy from it. As inflation continues to rise, many people in the country are finding themselves priced out of certain things, including…
Telecom paper

Safaricom cuts interim dividend for first time after profit drop

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Safaricom has trimmed its interim dividend by Sh2.4 billion on the back of reduced earnings in the half-year period, marking the first cut since it started distributing profit to shareholders before the end of a financial year. The giant…
East African

Kenya proposes lavish spending amid missed revenue targets

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Kenya’s National Treasury plans to raise government expenditure by 15.9 percent to Ksh3.66 trillion (about $29.2 billion) in the next financial year, anchored on a projected increase in tax revenue. But latest figures show that Kenya Revenue…
Mmegi online

AfCFTA won’t be used for dumping, Kgafela assures

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  The Minister of Trade and Industry (MTI), Mmusi Kgafela says safeguards have been put in place to ensure that the country’s ratification of the (AfCFTA) deal does not result in dumping by other countries or crushing local businesses. Last…
Mmegi online

Lack of cash crumbling business activities, livelihood in Nigeria

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Africa’s most populous country Nigeria has withdrawn 200-, 500- and 1000-naira notes from circulation following the redesign of the Nigerian currency. On 26 October 2022, Nigeria's Apex bank the central bank of Nigeria CBN announced the…