growth

Mogadishu (AX) — In a significant move signaling his commitment to urban development and community welfare, Dr. Hassan Mohamed Hussein, affectionately known as Muungaab, has announced the appointment of new district commissioners for two key areas in the Banaadir Region. This action represents not just a shift in leadership but a broader vision aimed at steering the Somali capital toward a more stable and prosperous future. On Wednesday, Governor Muungaab appointed Mr. Omar Meeyre Mo’ow as the new commissioner of…

Africa Soft Power Summit 2025: A Vision Unfolding The recent summit was an eye-opener, comprising two pivotal conferences: the Remarkable African Women's Leadership Conference and the Creative & Innovative Industries Conference, culminating in the prestigious Africa Soft Power Gala & Awards. Each segment offered profound insights that resonate with a diverse audience, charting a hopeful yet realistic path forward for the continent. “Africa's creative and tech sectors have already proven themselves to…

Zambia has embarked on a promising journey towards economic recovery, with projections indicating a growth rate of at least 6% this year. This significant expansion, the most robust since 2021, reflects the hopeful aspirations of many in the nation, as shared by Finance Minister Situmbeko Musokotwane during a recent Bloomberg Africa Business Media Innovators conference. Musokotwane attributes this rebound to two pivotal factors: improved rainfall and a notable increase in copper production. Earlier in the year, he…

In the vast landscape of electric vehicles, BYD stands as a titan, making waves as it ventures into South Africa's burgeoning new energy vehicle (NEV) market. This market isn't just about numbers; it's about transformative change. With competitors like GAC, Chery, and Great Wall Motors (GWM) stepping up their game, BYD's strategy unfolds with both vigor and ambition. BYD made its official entrance into the South African market in 2023, introducing the BYD battery electric ATTO 3. This launch was not just a mere…

In recent years, Africa has encountered a series of economic challenges that have hindered the continent's growth trajectory. This declining trend presents a multitude of obstacles and drawbacks, significantly impacting nations striving for development. Without careful navigation, these issues may undermine future progress, setting back years of hard work. Yet, amidst these hurdles, there is a glimmer of hope. Several African nations are stepping up to serve as beacons of stability and economic strength within their…

It's fascinating to observe how a nation's infrastructure plays a critical role in shaping its economic destiny. Across Africa, there is a palpable momentum as countries invest significantly in energy, transport, and digital frameworks. This deliberate focus on infrastructure is not just a fleeting trend; it’s a strategic move aimed at fostering sustainable economic growth for generations to come. These important investments don’t merely exist in a vacuum. They serve to minimize transaction costs, enhance…

In recent years, a remarkable transformation is underway in the tourism landscapes of various African nations. Through a series of ambitious reforms—ranging from strategic airline expansions and upgraded airport infrastructure to surging hotel occupancy rates and progressive visa policies—certain countries are taking significant steps to revitalize their tourism sectors. What does this mean for the traveler? After enduring prolonged disruptions due to the pandemic and an ever-evolving…

In the face of various challenges, such as fluctuating global economic conditions, inflation, and disruptions in trade, it's inspiring to note that several African nations are poised for a remarkable upswing in their real GDP growth by 2025. This resilience speaks volumes about the inherent potential within these countries. So, what factors are contributing to this positive outlook? First and foremost, the acceleration in economic growth does more than just ripple through local markets; it builds an…

The New Wave: Japan's Growing Interest in Africa In a fascinating turn of events, Takehiko Matsuo, the Vice Minister for International Affairs at Japan’s Ministry of Economy, Trade and Industry, recently highlighted a shift in Japan's economic landscape. After struggling through nearly three decades of deflation, Japan is finally emerging from its economic chrysalis. What does this mean for the future? According to Matsuo, this transformation has sparked a renewed enthusiasm within the private sector, encouraging a…

The Lobito Corridor Impact Development Platform: Fostering U.S.-Africa Cooperation The Lobito Corridor Impact Development Platform (LCID) is set to revolutionize cooperative efforts between the United States and Africa. By strategically investing in key sectors—agriculture, infrastructure, healthcare, light industry, education, and digital inclusion—the initiative aspires to ignite economic growth and regional integration across Angola, the Democratic Republic of Congo (DRC), and Zambia. It’s not merely about numbers;…