Browsing: Migration

Inter-African migration is being driven by a rise in demand for skilled and semi-skilled workers in different economic sectors
Because emigrants bring with them more than just economic needs from their home countries, migration is a trade stimulant in and of itself
For migrants who contribute to upskilling, movement within the continent results in better-paying, more stable employment

Migration has many advantages to Africa's economy which is now recovering or dealing with the aftermath of the Covid-19 pandemic. 

The African economy has remained resilient and has defied many ca...

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Since the advancement of the standard of living, most parts of the world have experienced a relatively rapid population growth than ever before which can be hugely beneficial for economic development if utilized strategically.  

Population growth is rapidly occurring in Africa, with Tanzania now hosting more than 59 million people in its vast, arable and mineral-rich land. This increase puts the East African country, which ascended last year to a low-middle-income status, in a much more advantageous position to move forward or experience a decline. 

The World Bank (WB) – one of Africa’s ...

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There are 42 currencies in Africa which makes it difficult to easily transact between countries due to conversion needs which create a lot of inconveniences.

This challenge may however be a thing of the past if plans to have a uniform payment and settlement platform sail through under the African Continental Free Trade Area (AfCFTA). The secretariat has announced seeking ways to ease the burden of doing business using 42 currencies on the continent which is a major boost to trade under the trade agreement.

The AfCFTA secretariat is working with the African Export-Import Bank (Afreximbank) to develop a pan-African payment and settlement platform which will help overcome the challenge posed by the multiplicity of currencies on the continent.

Read: How safe, controlled migration benefits African countries

AfCFTA Secretary-General Wamkele Mene notes that a uniform payments platform will eliminate the costly process of converting currencies which contributes to the inefficient …

Migration is significantly contributing to Africa’s urban growth as people move from rural areas in search of better economic opportunities. Some are also fleeing the effects of environmental degradation which has led to lost livelihoods for those who rely on agriculture.

As the economies deteriorate continent-wide, the mass movement of people means that the capacity of urban towns to cater for the increasing demands by migrants is stretched beyond the original plans.

This means that providing employment and access to basic amenities are limited which leads to breakdowns in service provision and delivery.

Read: World Bank to invest $593 million to support projects in Tanzania

By 2050, 75 per cent of the global population will be living in urban centres with sub-Saharan Africa being the world’s fastest urbanizing region.

This is according to a 2014 report by the United Nations Population Division which projected that most of this urban growth …

On October 12th, Law no. 35/20 – the Free Trade Zones Law (“FTZL”) – was passed. The FTZL has established benefits to be conceded to investors by the Angolan Government, aiming at attracting foreign investment in Angola thus creating economic growth.

All types of investment are permitted in the Free Zones, specifically investment in agriculture, industry (that use Angolan raw materials and are focused on exportation) and technology. Specific aspects pertaining the access to Free Zones (such as monetary requirements, number of jobs created, investments in fixed assets) shall be determined in the investment contract.

Access to the Free Zones is permitted to companies, joint ventures, groups of companies or any other form of companies’ representation, whose scope meets the purpose of the Free Zones.

The investments made in Free Zones must take into account environmental protection interests.

Activities to be developed in the Free Zones
In the Free Zones …

Migration and fuelling Africa’s economic growth

World Bank data from 2018 shows that Africa is primarily a receiver of remittances.

While sending volumes by African countries is growing, the continent receives around 8 times more than it sends- which is usually- and largely to other African countries.

In 2018, inflows to Africa were valued at US$ 81 billion with the outflows hitting US$ 10.33 billion.

These remittances are mostly from migrants who have moved to different countries and who have to keep supporting their kin back in their home countries.

UNCTAD: Africa must look to internal migration to boost development

At a high-level meeting hosted by the UNCTAD last year in March, the UN agency’s Secretary-General Mukhisa Kituyi said that for a long time the narrative on African migrants has been driven by fear which has curtailed freedoms of migrants.

He noted that contrary to media projections, the largest movement …