Moscow — Squeezed between import substitution and dependency syndrome, a condition characterized by a set of associated economic symptoms–that is rules and regulations–majority of African countries are shifting from United States and Europe to an incoherent alternative bilateral partnerships with Russia, China and the Global South. By forging new partnerships, for instance with Russia, these…
Africa’s rising food import bill, now estimated at around $70 billion annually, is unsustainable and signals an urgent need to invest in local agriculture, smallholder farmers, and climate-smart food systems, regional leaders and agricultural stakeholders have warned. They were speaking on September 30, at the Eastern Africa Farmers Federation (EAFF) Congress being held in Kigali,…
President John Dramani Mahama has disclosed that Ghana’s import trade reached over $215 million in 2024. Speaking at the 8th Africa-Singapore Business Forum, the President said trade between Africa and Singapore grew by 50 percent between 2020 and 2024, rising to nearly $14 billion. He noted that West Africa alone accounted for more than half…
After months of delays and extensions, President Donald Trump’s comprehensive and sweeping tariffs slate took effect Thursday just after midnight ET, shifting his global trade reset into high gear. Most imports into the United States will now face a baseline 10% duty, with the overall average effective tariff rate rising to more than 17% —…
Cape Town — The U.S. administration eased its proposed tariffs on trade with several African countries, but charges of up to 30% will kick in on imports from four countries in the coming days. The biggest beneficiary of the Trump administration’s rethink of its policy since its initial announcement of new tariffs in April is…
Dangote group is set to expand its $2.5 billion fertiliser plant located in Lagos, which will make Africa self-sufficient in fertiliser supplies and significantly reduce import costs. Aliko Dangote said on Friday that the planned production capacity would boost supply needs of the continent in the next 40 months. If the plan is successfully completed…
