Browsing: Central Africa

East African Oil Pipeline
One of the few spoken regional trade blocs of Africa is the Economic Community of Central African States (ECCAS).
Despite such little being spoken of this resource rich area, it is home to some of Africa's richest countries, yet it has for decades encountered various obstacles that have stunted social and economic progress. Human capital development is a major issue in the region, along with armed conflicts, natural disasters, and health crises.
As a result, the region's economy have not been able to flourish despite their abundance of natural resources.

Oil in Central Africa

Roughly 30% of Africa's crude oil is located in the ECCAS region.
Angola, located there, just surpassed Nigeria as Africa's largest oil producer, pumping out about1.16 million barrels per day.
Chad, the Congo, Equatorial Guinea, Gabon, and Cameroon are some of the other oil-producing countries in the area. Yet the resource has not contributed as much

In addition to building, transportation, banking, and insurance, international firms have featured prominently in other investment sectors in the Republic of Equatorial Guinea, such as banking and finance.

  • The Republic of Equatorial Guinea is a nation on the African continent’s western coast.
  • Equatorial Guinea’s Gross Domestic Product (GDP) stood at 12.27 billion US dollars in 2021.
  • In addition to the chances presented by Equatorial Guinea as the leading ecotourism hotspot for the growth of tropical tourist activities, the nation also offers opportunities for the promotion of high-end tourism.

Equatorial Guinea’s economic profile

The Republic of Equatorial Guinea is a nation on the African continent’s western coast. The country has rich oil and gas reserves. According to official figures from the World Bank, Equatorial Guinea’s Gross Domestic Product (GDP) stood at 12.27 billion US dollars in 2021. Equatorial Guinea’s GDP constitutes 0.01 per cent of the global economy.

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  • The number of acutely food insecure people in West and Central Africa has risen to a record high of 28 million people
  • This is the largest number of people facing high acute food insecurity in West and Central Africa recorded since 2014

A new report has indicated that the number of acutely food insecure people in West and Central Africa has risen to a record high of 28 million people; days after Save the Children said more than 260,000 children may have died from extreme hunger or related diseases in East Africa.

According to the Food and Agriculture Organization of the United Nations (FAO) and the United Nations World Food Programme (WFP), West and Central Africa trends point toward a further deterioration if support to stem the spread of hunger is not increased.

Data by the two UN organizations indicate that in the Sahel and West Africa, 26 million people

While Nigeria is the largest exporter for Sesame seeds, there’s still a lot of untapped potential of the lucrative export business this even as the seeds demand increases  globally.

According to United states market based research report known as Hexa Research the Global sesame seeds market size is expected to hit $17.77 billion by 2025.

The fueling market demand was associated with its Increased application of the product as an anti-oxidant in various pharmaceutical formulations.

With the world production of Sesame seeds estimated to be 4. 8 million tonnes, ten [10] countries accounts for over 80% of it which includes Myanmar, India, China, Tanzania, Sudan, Ethiopia, Nigeria, Burkina Faso, Uganda, and Niger.

Africa, accounts for over 45 per cent of the crop, and in the last 10 years has become as a fast-growing supplier of sesame seed in the world market.

Of the Sesame seeds global production, over two million …

The African Private Equity and Venture Capital Association (AVCA) released its sophomore Industry Survey drawing African Limited Partners and General Partners commitment to African investment as long-term.

The survey report that was released on April 15, was conducted in review of broad cross-section of global and African Limited Partners’ (LPs) and General Partners’ (GPs) to determine perspectives and attitudes of investing in African private equity (PE) across various categories, sectors, geographies, investment stages, challenges, and returns.

According to the survey report, Majority of Limited Partners (86%) plan to raise or maintain their allocation to African Private Equity {PE} over the next three years, with impact and the investment mandates viewed by most Limited Partners as the primary factors driving their investment approach.

ALSO READ: Investing in Africa: Trends driving Private Equity and Venture Capital in Africa

65% of Limited partners said that the African Private Equity {PE} attractiveness remained the …

African countries must tidy-up smart strategies for e-commerce without which they will lose out considerably on the promise of the Fourth Industrial Revolution (4IR).

Lethargy and bureaucracy in implementing favourable policies for e-commerce may cost the continent, a scenario which is unacceptable.

As Africa goes live with the African Continental Free Trade Area (AfCFTA) in January 2021, it is more compelling to boost intra-African trade through online transactions.

Read: E-commerce answer to Africa’s complicated 107 business, land borders

E-commerce, which is the monetary exchange of goods, services and information products via the Internet, will be a key component of phase two negotiations of the AfCFTA.

Africa’s share in the global US$3.4 trillion dollar e-commerce ecosystem is only 1.3 per cent with a big percentage of Africans having no access to the internet. In comparison, slightly over 18 per cent of people in Central Africa have access to the internet which …

The world is looking forward to 2021 as a new dawn for the global economy following the devastation caused by the Covid-19 pandemic in 2020.

This year has shaping up to be a very difficult one for the global economy since many countries were unprepared for the health pandemic. Lockdowns seemed like the only plausible way to protect lives and preserve health systems but in enforcing them, an economic crisis was triggered spreading as quickly as the virus itself.

For the first two quarters of this year, data from the United Nations Conference on Trade and Development (UNCTAD) shows that the pandemic saw economic output contract more sharply than in 2008-2009. In some cases, the pandemic-induced depression registered the steepest drop on record.

Read: Is Bitcoin poor Africans’ alternative reserve currency?

“Estimates for the year point to a generalized global recession matching the Great Depression of the 1930s,” notes UNCTAD.…

The African Development Bank has approved COVID-19 emergency funds to its member countries which have reached the continent’s five geographic regions.

The COVID-19 pandemic is seen to cause a drop in Africa’s gross domestic profits by between $22.1 billion and $88. Billion.

By June 12, the African Development emergency package had reached Africa’s five geographical regions.

Before the pandemic, West Africa was home to at least four of Africa’s fastest-growing economies and has felt the impact of the pandemic as borders remain cloAfrican Development emergency packageAfrican Development emergency packagesed economic distress deepens.

To bolster national health systems in response to the Pandemic, Mali, Niger and Gambia will benefit from an ECOWAS $22 million support package.

From the Emergency package, Nigeria got €288.5 million, Senegal €88 million, Côte d’Ivoire €75 million and Cabo Verde €30 million.

Funds to this region will seek to address shortages in ventilators, personal protective equipment (PPE) …