dependent

Indonesia’s recent announcement to raise its export tax on crude palm oil (CPO) from 7.5% to 10% is stirring ripples across global markets. While this change is significant for many countries worldwide, the ramifications are particularly acute for Africa, which heavily relies on palm oil imports from Southeast Asia. For many African nations, the news of this new levy, set to take effect on May 17, 2025, poses a troubling scenario: heightened import costs. It’s a reality that can significantly affect local economies and…

Understanding the Role of Customs Duties in Africa For some countries heavily reliant on international trade, the levying of tariffs on imported goods comprises more than 40% of total tax revenue. This fact alone underscores just how integral these duties are to the infrastructure of governmental funding across various nations. Consider the island nation of São Tomé and Príncipe, where customs duties remarkably constitute 100% of the country’s tax revenue. What does this tell us about their economic structure or their…

Since April, Gabon has been in a state of health. The Central African country is facing a major economic hit as a result of Covid-19 lockdown measures and falling oil prices. The arenas of this unprecedented crisis could remain at Port-Gentil, its oil capital, for a while. Businesses, shops, transportation, tourism and other sectors in the country's economic center are all struggling. Port Gentil has…