Cultural wealth can drive economic growth in African cities

By Bonface Orucho, bird story agency With the right policies, African cities hold immense potential to drive significant economic growth by capitalizing on their rich cultural heritage and harnessing the creativity of their youthful populations, according to a new report. “Africa’s urban landscapes are not just repositories of heritage and tradition; they are dynamic centres of innovation, awaiting the right policies to support unlocking their full potential,” the […]

March 25, 2024 26

Africa

Ghana’s free high school policy is getting more girls to complete secondary education – study

By Victor Osei Kwadwo, United Nations University and Rose Vincent, Utrecht University Education drives economic growth and individual well-being. Secondary education, in particular, plays a crucial role. In recent decades, this recognition has encouraged several African countries to make secondary education free. One example is Ghana’s Free Public Senior High School (FreeSHS) policy, initiated in 2017. The policy aimed to remove cost barriers to secondary education, including […]

March 22, 2024 12

Africa

Africa is fueling India’s economic ambitions

By Bonface Orucho, bird story agency India is growing its investment and nurturing diplomatic alliances with a range of countries in Africa, recognizing the continent as a key component in its pursuit of superpower status. In the latest move, Ethiopia’s ambassador to India disclosed to The Print, an Indian news outlet recently, that the two countries are “in the final stages of clinching defence cooperation.” This is just […]

March 20, 2024 17

Environment

Technology to protect South Africa’s oceans: experts find that a data-driven monitoring system is paying off

A fishing boat launching into South African waters at dawn. Justin Klusener Photos Marjolaine Krug, University of Cape Town Nine years ago South Africa put in place an innovative information management system designed to monitor and protect its seas. The country is surrounded by the Atlantic and Indian oceans on its southern, eastern and western borders. The oceans are an important source of income and employment. The ocean economy contributed […]

March 12, 2024 52

Business / Economics

Jobs in South Africa: the labour market is recovering from COVID – but unskilled and less educated people are still being left behind

By Derek Yu, University of the Western Cape For more than three decades the South African economy has had very high rates of joblessness. The country’s economy has been unable to create enough jobs for its growing army of workers. This has partly been because of the stagnant economic growth rate of only 1.7% during the 2010s (it was even lower at 0.9% in 2015-2019). Another factor […]

February 20, 2024 7

Africa

Nigerian E-payments eclipse South Africa’s 2022 GDP, in latest surge

When the Nigerian Central Bank introduced newly designed currency notes in November 2022 and a month later put a cap on the maximum amount of hard cash that individuals and corporations could withdraw, the idea was to tame money laundering in the country. During that year’s Christmas festive season and in the run-up to the 2023 Nigerian presidential election in February 2023 –– two high spending seasons –– the country […]

February 15, 2024 13

Business / Economics

Bank of Namibia expected to cut repo rate by 25bps as inflation cooling

By Josef Kefas Sheehama At its first Monetary Policy Committee meeting of 2024, on the 14 February 2024, the Bank of Namibia is expected to cut its Repo Rate by 25 basis points. All of Namibian’s banks now expect the Bank of Namibia to cut its Repo Rate target by 0.25 basis points on the 14 February 2024, which would bring its key lending rate to 7.50%. This […]

February 13, 2024 39

Business / Economics

South Africa’s $26.3 million new mining fund sets stage for exploration boom

By Bonface Orucho, via bird story agency South Africa is charting a new course for its mining industry, betting on local and junior miners to identify and unlock greenfield mines as the country pursues higher sector prosperity. The country has introduced a new US$26.3 million (R500 million) mining exploration fund for local and junior miners, aiming to tap into the rising global demand for minerals. South Africa’s […]

February 8, 2024 24

Africa

Somaliland-Ethiopia port deal: international opposition flags complex Red Sea politics

By Jutta Bakonyi, Durham University The memorandum of understanding between Ethiopia and Somaliland announced on 1 January 2024 set off diplomatic rows in the Horn of Africa – and beyond. Details of the agreement are not publicly known, but both state leaders have touched on its content. Among the main elements: Ethiopia gets a 50-year lease on a strip of land on Somaliland’s Red Sea coast for naval […]

February 8, 2024 19

Economic Growth