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India discussing local currency trade with Tanzania

India discussing local currency trade with Tanzania

India is discussing trade in local currencies with Tanzania, a foreign ministry official said on Monday adding that New Delhi has pushed for trade in rupees. Tanzania has also sought additional lines of credit from India in defence and other sectors, above the $1.1 billion offered by India previously, Dammu Ravi, a secretary at the […]

Nigeria’s Africa trade balance down 33.8% in 3 years

Nigeria’s Africa trade balance down 33.8% in 3 years

By Yinka Kolawole Nigeria seems to be losing out in trade with other African countries as reflected in a 33.8 percent decline in trade balance with the continent to N1.86 trillion in 2021 from N2.81 trillion in 2019. This development, coming ahead of the full implementation of the African Continental Free Trade Area (AfCFTA), also […]

Region Trade Balances Improve Despite Pandemic

Region Trade Balances Improve Despite Pandemic

Regional balance of trade improved in the height of the Covid-19 pandemic, with lower imports, as Kenya’s manufactured products and demand for Tanzanian minerals held up the economies. According to a report by the United Nations Economic for Africa (Uneca) and Trade Mark East Africa (TMEA) released Wednesday, Kenya registered an increase in exports of […]

Nigeria Remains China’s 3rd Largest Trading Partner In Africa

Nigeria Remains China’s 3rd Largest Trading Partner In Africa

The Charge d’Affaire of the Chinese Embassy in Nigeria, Zhao Yong, in this interview with BUKOLA OGUNSINA, said Nigeria is China’s third-largest trading partner after South Africa and Angola. The envoy spoke on China, Nigeria relations in times of COVID-19, cooperation between both countries in terms of infrastructural projects, Hong Kong matters and some of […]

The Business Of Buying and Selling African TV and Streaming Content Goes Virtual

The Business Of Buying and Selling African TV and Streaming Content Goes Virtual

The annual trade fair is dead for the foreseeable future. Those running things like DISCOP and AfricaCom have had to reinvent themselves. Russell Southwood talks to DISCOP founder Patrick Zuchowicki about what buyers and sellers really want when they go online and what he’s doing to meet these needs. The annual DISCOP event has gone online […]

Nigeria, Russia To Resuscitate Ajaokuta Steel Company

Nigeria, Russia To Resuscitate Ajaokuta Steel Company

The Federal Government and Russia, Tuesday, agreed to partner in resuscitating the comatose multi-billion Dollar Ajaokuta Steel Company. This was disclosed in a statement signed by the Press and Public Relation Unit of the Ministry of Mines and Steel Development, where the Minister of Mines and Steel Development, Olamilekan Adegbite, during a courtesy visit of […]

China Institutes Tough Rules for Avocado Farmers

China Institutes Tough Rules for Avocado Farmers

A logistical nightmare and the high costs of meeting tough conditions required for the export of Kenyan avocados to China are threatening to choke the lucrative deal inked last month. The stringent conditions, which include requiring a farmer to peel and freeze the fruit before export, could lock out thousands of small-scale farmers who are […]

Xi Urges Fellow BRICS Countries To Reject Go-It-Alone Trade

Xi Urges Fellow BRICS Countries To Reject Go-It-Alone Trade

Chinese President Xi Jinping said there would be no winner in a global trade war, urging fellow developing powers on Wednesday to reject unilateralism in the wake of tariff threats by U.S. President Donald Trump. Trump’s warnings have given Brazil, Russia, India, China and South Africa fresh impetus to enhance trade cooperation, and their leaders […]

Algeria Bans Imports Of Cell Phones, Veg And Other Goods To Curb Trade Deficit

Algeria Bans Imports Of Cell Phones, Veg And Other Goods To Curb Trade Deficit

Algeria has temporarily banned the import of 900 products including cell phones, household appliances and vegetables in a bid to cut a ballooning import bill following a fall in energy earnings, according to an official document seen by Reuters. The OPEC member has been trying to cut spending since crude oil prices started falling in […]

Global Partners Discuss Key Data and the Future of U.S.-Africa’s SMES

Global Partners Discuss Key Data and the Future of U.S.-Africa’s SMES

Ahead of President Obama’s second U.S.-Africa Business Forum planned for New York on September 21, 2016, the FEEEDS Initiative —Food Security, Education, Environment-Energy, Economics, Democracy-Development and Self-help— in partnership with GALLUP, hosted the third annual forum on Africa in Washington, D.C. to discuss the importance and impact of Africa Diaspora small and medium size Enterprises […]

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