INTERNATIONAL

Trade wars are symptoms of deeper malaise, UNCTAD warns - According to UNCTAD’s Trade and Development Report 2018, the world economy remains on shaky ground a decade after the 2008 financial crisis, with trade wars a symptom of a deeper malaise. While the economy has picked up since early 2017, growth remains spasmodic, and many countries are operating below potential, states the report. (UNCTAD)

Keywords: UNCTAD, World economy, Trade, Development, Report

Africa, and the world, need safer seas and shipping - Alongside the United Nations (UN) Sustainable Development Goal to conserve and use the oceans and marine resources for development, new rules for shipping safety are taking an increasingly environmental focus. The International Maritime Organisation (IMO) earlier this year finally agreed on how to halve harmful ship greenhouse gas emissions by 2050. (Daily Maverick)

Keywords: Africa, UN, IMO, Seas and Shipping

Chinese investment in Africa is for mutual benefit - A common Western criticism of China’s investment in Africa is that the continent could be burdened by unpayable debts arising from billions in loans from China. All this criticism is Western propaganda to discredit China in the eyes of African countries. (Chronicle)

Keywords: China, Africa, Investment, Mutual benefit

China influence forces EU to unveil Africa plan - The European Commission President Jean-Claude Juncker has proposed a new alliance with Africa to deepen economic relations and boost investment and jobs. The proposal is part of the European Union plan to deepen ties with Africa to counter the growing influence of China. (Zambia Reports)

Keywords: China Influence, EU, Africa plan, Free-trade agreement

PAN AFRICAN

Economists are severely underestimating the amount of trade between African countries - The share of internal trade in Africa remains low, as reflected by official statistics. This is despite numerous regional trade agreements that have led to tariffs removal within the trading blocs. There are a host of shortcomings that limit trade: non-tariffs barriers, red tape and insufficient infrastructure. (Quartz Africa)

Keywords: Africa, Internal trade, Non-tariffs barriers, Insufficient infrastructure

Working paper: Regional integration in Africa - Political motives, geography, and the uneven distribution of gains trumped the traditional efficiency gains across Africa’s Regional Economic Communities (RECs). The small, sparsely populated, fragmented, and often isolated economies across Africa make a compelling case for these economies to integrate regionally to reap efficiency gains, exploit economies of scale, and reduce the thickness of borders.(United Nations University)

Keywords: Africa, Regional integration, RECs, Regional policies

Opinion: African Continental Free Trade Agreement: Much ado about nothing? - Attempts to increase investments in the region is now complemented by the creation of the African Continental Free Trade Agreement (ACFTA); an Agreement with the objective of boosting intra-African trade development across the continent and regional integration. (Modern Ghana)

Keywords: AfCFTA, Investments, Regional integration

UNIDO canvasses continental integration for trade, industrialisation - To enhance growth of intra-African trade and industrialisation within the continent, the United Nations Industrial Development Organisation (UNIDO), is pushing for support and implementation of continental economic integration. According to UNIDO, the AfCFTA provides a chance for African countries to move away from resource-dependence and transform into dynamically diversified economies. (The Guardian.ng)

Keywords: UNIDO, AfCFTA, Continental integration, Industrialisation

Seize the opportunity offered by Africa’s Free Trade Area - According to Mr Li Yong, the Director General of UNIDO, Industrialisation, diversification and job creation in Africa cannot happen without continental economic integration. The recent signing of the historic agreement for an African Continental Free Trade Area (AfCFTA) by 49 out of 55 countries, creates an opportunity for inclusive and sustainable economic development, moving away from structural stagnation and commodity-based economics. (Daily Monitor)

Keywords: AfCFTA, UNIDO, Industrialisation, Diversification  

EAST AFRICA

Kenya escalates Tanzania trade war with new tariffs - Nairobi has hit back at Dar es Salaam by imposing new tariffs on Tanzania products like flour after the neighbouring country ignored a deal that granted Kenyan-made chocolate, ice cream, biscuits and sweets unrestricted entry into its market. This came after Tanzania and Kenya failed to resolve the trade war sparked by use of imported materials in goods made in the countries, setting the stage for a fresh round of the trade war. (Business Daily)

Keywords: Kenya, Tanzania, Trade tariffs

Kenyan railway highlights sharper focus on affordability - The Chinese-funded railway from the Kenyan port city of Mombasa to the Ugandan border - and, it is hoped, eventually to Uganda’s capital, Kampala - encapsulates the evolution of Beijing’s Belt and Road Initiative in Africa.(Financial Times)

Keywords: Kenya, Uganda, Railway, OBOR

Uganda’s oil production to increase investment opportunities, job creation - Uganda is gearing towards commercial production of oil in a bid to boost the oil and gas industry.The minister of industry, Amelia Kyambadde said oil production would lead to an increase in investment opportunities as well as job creation. (The Exchange)

Keywords: Uganda, Oil, Commercial production
 

NORTH AFRICA

No new taxes to be imposed in Egypt - Minister of Finance Mohamed Ma’it said that no new taxes will be imposed, clarifying that the new stage aims to stabilise fiscal, customs and financial policies and focus on growth, employment and policies that support them.  The minister added that the government has no intention to increase taxes over the next four years. (Egypt Today)

Keywords: Egypt, New taxes, Imposition

SOUTHERN AFRICA

Western Cape welcomes South Africa’s visa Relaxation measures - Cape Town and the Western Cape’s Official Tourism, Trade and Investment Promotion Agency has welcomed the amendments that were announced by South Africa’s Minister of Home Affairs, Malusi Gigaba, to the existing visa regime. According to Wesgro CEO, Tim Harris, the changes will have a noticeable and positive impact on tourism, trade and investment in South Africa. (EA Business Week)

Keywords: South Africa, Visa relaxation, Trade, Investment

WEST AFRICA

Nigeria trade unions threaten strike for higher minimum wage - The Trade Union Congress (TUC) on Tuesday insisted the organised labour would commence strike on Thursday, following the federal government’s failure to honour its ultimatum on the new minimum wage. The labour leaders had on September 12 cautioned the federal government against foot-dragging on the new minimum wage and allow the tripartite committee to conclude its job to avoid action. (CGTN)

Keywords: Nigeria, Trade unions, Minimum wages

High freight rates, others hamper international trade in Africa - Nigerian Minister of Transportation, Rotimi Chibuike Amaechi said that high freight rates, arbitrary imposition of surcharges were hindering the development of international trade in West and Central Africa. He said this at a two-day sub-Regional Workshop and Joint Standing Committee Meeting of the Union of African Shippers’ Council (UASC), taking place in Abuja. (New Telegraph)

Keywords: Africa, Nigeria, High freight rates, International trade

FG is formulating new policies to drive, develop apiculture industry - President Muhammadu Buhari said the Federal Government is formulating new policies to drive developmental processes in the apiculture industry. The President, represented by Boss Mustapha, the Secretary to the Government of the Federation, said the government was also building the capacities of beekeepers and processors to develop the sector. (Voice of Nigeria)

Keywords: Nigeria, Apiculture industry, New policies, Buhari