The United Kingdom has unveiled a sweeping package of trade reforms aimed at boosting African exports, creating jobs and fostering economic growth across the continent. Unveiled on 10 July, the reforms centre around updates to the Developing Countries Trading Scheme (DCTS), the UK’s flagship trade preference programme launched in 2023. The scheme covers 65 countries…
To offset the rising costs of tariffs and trade war uncertainty, companies are using U.S. Customs-sanctioned foreign trade zones (FTZs) and bonded warehouses to delay or reduce product taxes. FTZs have a long history dating back to a previous period of trade conflict, created during the Great Depression by Congress to encourage international trade and…
Coalition governance is messy, but parties should be able to agree on prioritising economic growth and trade into Africa. South Africa’s Government of National Unity (GNU) has just staggered past the one-year mark. Its foreign policy reflects continuity, some change, a steady mismatch between ambition and resources, and little focus on national growth priorities. Disagreements…
United States President Donald Trump has threatened Brazil with a 50 percent tariff, citing the criminal charges against its former president and his political ally Jair Bolsonaro, who is accused of plotting a coup. In a letter to Luiz Inacio Lula da Silva, Brazil’s current president, Trump said on Wednesday that the treatment of Bolsonaro, who…
Washington, D.C. — President Donald Trump is set to host the heads of state from Gabon, Guinea-Bissau, Liberia, Mauritania, and Senegal at the White House next week for a luncheon aimed at strengthening commercial and security ties between the United States and Coastal West and Central Africa. According to a White House official, the event…
Flags of the European Union and the United States. Sean Gallup | Getty Images News | Getty Images CNBC’s assignment desk has a conundrum this week: how to approach July, 9. Why does this specific date matter? It’s the deadline for trade negotiations between the U.S. and European Union before the tariffs axe (maybe) falls…
Nairobi — African ministers have pledged to protect millions of donkeys from rampant skin trade, marking a turning point for both the animals and the rural communities that depend on them. At the Pan-African Donkey Conference (PADCo) held in Abidjan, Cote d’Ivoire, leaders signed the Abidjan Declaration, a landmark agreement that upholds the African Union’s…
Bulawayo, Zimbabwe — A new report has raised concerns about the exclusion of African fish workers from trade protocols between their governments and developed countries, resulting in impoverished communities relying on fishing. This comes as the impact of Africa’s trade protocols with blocs such as the European Union and the United States is being examined…
The Namibia Trade Forum (NTF) has cautioned that more work needs to be done for Namibia to fully realise the opportunities presented within the African Continental Free Trade Area (AfCFTA). This comes after Namibia exported its first consignment under the programme, shipping 45 000 tonnes of salt to Nigeria. While the achievement has been lauded,…
Abuja — Trade is set to expand at an average of 5.1 per cent a year through 2026, before quickening to 5.4 per cent by 2028 Africa’s trade projected to hit $1.5 trillion in 2025 as growth momentum builds Africa’s intra- and extra-regional trade is on course to reach US$1.5 trillion in 2025, according to…
