growth

Europe’s race for economic self-defense has moved from white paper to red alert. Mario Draghi warned in 2024 that, “for the first time since the Cold War, we must genuinely fear for our self-preservation.” A year later, with Donald Trump’s 15% tariffs on EU goods in force and a deteriorating global backdrop, Brussels is scrambling to convert a decade of stalled ideas into hard law and money. The stakes are stark. Global trade is slowing. Cheap Russian energy is gone. The EU, Draghi argued, needs to mobilize up to €800…

Somalia unveils revised labour code to strengthen worker protections, modernize employment rules MOGADISHU — Somalia on Sunday launched a revised Somali Labour Code (Law No. 36), a sweeping update that officials say will reshape employment relations, reinforce protections for workers and help underpin long-term economic development. Unveiled at a national ceremony in Mogadishu, the reform was presented as a cornerstone of efforts to modernize the country’s labour system and align it with international standards and…

WASHINGTON — President Donald Trump used a rare prime-time address from the White House to promise an economic boom and blame Democratic predecessor Joe Biden for stubbornly high prices, even as fresh polling shows voters increasingly sour on his handling of the economy at the close of his first year back in power. “Eleven months ago I inherited a mess, and I’m fixing it,” said Trump, 79, casting his stewardship as a course correction from the Biden era. He insisted that gas and grocery prices that have strained household…

Somalia’s growth is hitting an avoidable ceiling: the price and reliability of electricity. The country’s telecom sector—quietly swapping diesel generators for sunlight—offers a clear, local blueprint for how to lower costs, cut emissions and power a modern economy. If energy is the missing link, renewables are the bridge.

Somalia faces a growth squeeze as international aid ebb slows recovery Somalia’s recent economic gains now face a stark test: a sharp drop in development assistance from major donors that, according to the country’s finance minister, has reduced projected growth from roughly 4% in 2024 to nearly 1% in 2025. That slowdown is not simply a statistical wobble. It is a signal that Somalia’s fragile, donor-dependent development model is colliding with new global priorities and domestic limits to revenue generation. From aid-led…

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…