growth

Global Gateway in Somalia: Investment with a Human Face — and Hard Questions MOGADISHU — When the European Union rolled out its Global Gateway initiative in Brussels this month, the message was simple: funnel European capital into connectivity projects across Africa, Asia and beyond, and build ties that can withstand geopolitical shocks. For Somalia, a country still rebuilding after decades of conflict, the program promises not just roads and ports but jobs and a stake in the global economy. The EU delegation in Mogadishu…

African Cinema: A Resurgence of Culture and Identity African cinema has always been a rich tapestry, woven together with the threads of diverse stories and vibrant cultural expressions. Recently, however, this medium has witnessed an extraordinary renaissance, one that not only highlights the unique narratives of the continent but also asserts its place on the global stage. Central to this movement is the Film Africa festival, an event that serves as a crucial bridge connecting African filmmakers to international audiences.…

Zimbabwe’s crocodile industry inches forward, raises questions about jobs, conservation and value What sounds at first like an exotic sideline to traditional agriculture is quietly becoming a fixture of Zimbabwe’s export economy. Over the past two years crocodile skin exports have inched up from US$32 million to US$34 million, Deputy Minister of Lands, Agriculture and Fisheries Davis Marapira told reporters — a modest rise that nonetheless signals a sector pushing for a larger role in foreign exchange earnings and rural…

The Unseen Struggles Behind Nigeria's Economic Reforms In a nation known for its vibrant culture, rich resources, and entrepreneurial spirit, a staggering 139 million Nigerians are entangled in the grip of poverty, according to the World Bank. This alarming figure continues to haunt the country, even as optimistic economic reforms signal a potential turning point. From bustling markets in Lagos to sprawling villages in Kano, the contrast between policy advancements and the lived experiences of ordinary citizens raises…

The Hemorrhage: Africa's Battle Against Illicit Financial Flows As the sun rises over the sprawling cities of Africa, it casts a light on an urgent issue plaguing the continent: illicit financial flows. While Africa is rich in resources and potential, it is estimated to lose a staggering U.S.$88 billion each year due to tax evasion, money laundering, and corruption. This figure, a steep jump from U.S.$50 billion just eight years ago, paints a bleak picture of a continent struggling against forces that siphon away its…

Idris Elba has set his sights on a significant shift in his life over the next ten years — he wants to move to Africa. This isn’t just a personal endeavor; it’s a heartfelt commitment to bolster the continent's burgeoning film sector. With an eye toward progress, Elba envisions constructing film studios in two pivotal locations: Zanzibar in Tanzania and Accra in Ghana. He believes it’s high time for Africans to take charge of their own stories. “We need to reclaim our narratives,” he asserts, urging a break from the confines…

In the Central African Republic, the World Bank released its annual report on Monday, November 30. In 2019, growth slowed slightly to 3.1%, but remained good compared with the countries in the region. However, the outlook for 2020 is much worse ... The World Bank predicts zero or even negative growth of up to 1.2% for 2020. as…

Ivory Coast will vote on Saturday to elect a new president or renew Alassane Ouattara in power for ten years. Its economic record is quite good, but not for all Ivorians. On the plus side, the Ivorian economy is undergoing a rebirth. With an average growth of 7% to 8% since 2011 - and without taking into account the current…