Economic Growth

Biden Administration supports AGOA re-authorisation

The Biden administration is supporting the early extension of the African Growth and Opportunity Act, allowing over 30 sub-Saharan African countries to maintain duty-free access to the U.S. market. Joy Basu, the Deputy Assistant Secretary of State in the Bureau of African Affairs, confirmed this during a press briefing, saying the United States supports an early re-authorization before AGOA expires in September 2025. Since its enactment in 2000, the […]

30 July, 2024 43

South Africa

South Africa is changing its retirement rules to help boost country savings: how it will work

By Adrian Saville, University of Pretoria A study of 160 countries, spanning 60 years of economic history, establishes that there is no country that has been able to transition from “poor to prosperous” without a high savings rate. And that households - in other words you and me - are one of the most important contributors to a country’s overall level of savings rate. Yet, […]

29 July, 2024 31

Opinion Pieces

Namibia Needs a Different Approach to Change the Structural Economy

Opinion Piece By Josef sheehama To attain V2030, Namibia will need to adopt structural reforms that will increase economic growth, facilitate more labor-intensive growth by opening up the labor market, and address an expensive and generally ineffective system of education, training, and skills. The government should support businesses in the manufacturing, construction, and agriculture sectors among others, paying attention to both the educated and the uneducated. As a […]

9 July, 2024 28

World

New UK finance minister vows to power economy

New UK finance minister Rachel Reeves vowed Monday to immediately "fix the foundations" of Britain's economy, fuelled by onshore wind power and house building, after her Labour party won power. In her first major speech since being appointed the UK's first woman chancellor of the exchequer by new Prime Minister Keir Starmer, Reeves said there was "no time to waste" on reversing "the legacy of fourteen years […]

8 July, 2024 19

Africa

South Africa’s new agricultural leadership should focus on getting things done, not designing new policies

By Wandile Sihlobo, Stellenbosch University South Africa’s primary agriculture sector accounts for nearly 3% of GDP and about 8% when considering the value of agro-processing. But it can contribute even more to economic growth that delivers benefits fairly across society and creates jobs. This can’t happen, however, if new policies and plans keep getting introduced. Fortunately, the views of the new agricultural minister, John Steenhuisen, may […]

3 July, 2024 42

South Africa

South Africa’s new cabinet draws mixed reactions

Following South African President Cyril Ramaphosa’s announcement of his new cabinet, which consists of the eleven political parties that are part of the government of national unity, we reached out to South African-based political analyst Professor Ntsikelelo Breakfast for comment. Ramaphosa has added two ministries to his cabinet and announced 32 ministers. The Democratic Alliance has been allocated six ministerial posts, with its leader John Steenhuisen appointed Agriculture Minister. Ramaphosa says […]

1 July, 2024 55

Business / Economics

Finance Minister says trade fairs play important role in community development

The Minister of Finance and Public Enterprises, Iipumbu Shiimi, has highlighted the role of trade fairs and expos as platforms fostering meaningful interactions between businesses and communities, ultimately enhancing their daily lives. Speaking at the 14th edition of the Eenhana Expo fundraising gala dinner held on Saturday, Shiimi underscored that these events are not merely gatherings but dynamic forums where innovative ideas are exchanged, partnerships are forged, and solutions are […]

24 June, 2024 38

Business / Economics

Primary industries drive Namibia’s Q1 GDP growth

The Namibia Statistics Agency has released Q1 GDP numbers, showing a 4.7% expansion compared to 5.3% in Q1 of 2023. Year-on-year GDP in real terms rose to N$38.9 billion from N$37.2 billion, reflecting a N$1.7 billion increase. Statistician-General Alex Shimuafeni attributes the growth mainly to a 5.1% increase in real value added in the Primary industries sector.

20 June, 2024 79

Local

Airbus releases its latest study identifying key unserved routes to boost air travel in Africa

Global aerospace and aviation leader Airbus has released an analysis detailing several key unserved African routes which could provide greater connectivity for travellers, drive economic growth in local economies, and provide a significant boost in revenue for airlines. The company also highlighted data on Africa from its latest Global Market Forecast (GMF). Several of the top unserved routes identified in the analysis are concentrated in cities such as Lagos, Cape Town, Nairobi, Dakar, and Douala. […]

20 June, 2024 21