Tag: Trade

MSC Boosts Connections Between Angola, Namibia and Their Key Trade Markets

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As part of MSC’s decision to expand its Sub Saharan Africa network, the company is reshuffling its Angola service, offering Pointe-Noire, Congo Republic (CR), and Matadi, Democratic Republic of Congo (DRC), as from January 2023. Offering Pointe-Noire on the Angola service will represent a significant advantage for Asia and India markets in the region. The Congolese port will serve as a key transshipment hub for cargo destinated to Angola and Namibia. Stopping the tranship via Lomé will reduce by 11 days the transit time to the main Angolan port of…

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Enhancing the Trans-Saharan Road corridor to boost trade and economic development

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© Abdelrahman Hassanein/Shutterstock | Economic corridors enable regions and countries to offer high-capacity transport systems that foster trade. UNCTAD and the Islamic Development Bank launch a roadmap for supporting economic development and regional integration through Africa’s Trans-Saharan corridor. Trade and transport corridors, the major routes that facilitate the movement of people and goods between regions and countries, have existed for millennia. The Trans-Saharan Road (TSR) corridor, one of the oldest in Africa, comprises a 4,500-kilometre main road that links Algeria, Niger and Nigeria with an additional 4,600 kilometres of highways connecting…

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The role of railways in empowering AfCFTA’s success

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Trading under the African Continental Free Trade Area (AfCFTA) commenced in January 2021, creating a huge single market of 54 African states – all but Eritrea – of almost 1.4 billion people. It’s a game changer for Africa with the UN Economic Commission for Africa (UNECA) estimating (1) that AfCFTA has the potential both to boost intra-African trade by 52.3% by eliminating import duties, and to double this trade if non-tariff barriers are also reduced’. Jettisoning the trade barriers Prior to the AfCFTA, cross-border African trade was impeded by average tariffs of…

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“Building the Future Together” 14th U.S.-Africa Business Summit in Morocco

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The Kingdom of Morocco is hosting the 14th U.S.-Africa Business Summit from July 19-22 in the city of Marrakech under the theme: “Building the Future Together”. Organized by the Corporate Council on Africa (CCA), under the High Patronage of King Mohammed VI, the forum brings together more than 1,000 participants, including ministers, public and private economic operators and American and African institutions. For CCA President and CEO Florizelle Liser, “The Summit provides an excellent opportunity to highlight the synergies of economic relations between the United States and Morocco, between Morocco…

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Dubuy.com the e-commerce platform of DP World expands Africa presence with launches in Ghana and Zambia

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DP World today announced the continued expansion of its e-commerce platform Dubuy.com in Africa, with launches in both Ghana and Zambia. The latest roll-out of the wholesale marketplace opens access to global supply chains for even more African businesses. Dubuy.com provides advanced technology and secure transactions for wholesale traders, connecting them safely and efficiently to international markets. These digital tools are underpinned by DP World’s robust physical infrastructure across Africa, such as the port at Maputo and its connections with East and South Africa. On the West Coast, DP World…

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UNCTAD urges African countries to rethink export diversification to survive economic shocks

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The continent’s free trade area, a growing middle class, an emerging consumer market, increased access to financial services and technology, and dynamic private entrepreneurs can help diversify African economies. African countries must diversify their exports to survive economic shocks from global crises such as the COVID-19 pandemic and the war in Ukraine, says the United Nations Conference on Trade and Development (UNCTAD). In its Economic Development in Africa Report 2022 published on 14 July, UNCTAD says African countries can diversify their economies through boosting exports of high-value services, expanding private businesses’ access…

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E-COMMERCE AND Q-COMMERCE BOOM BENEFITS CONSUMERS AND COURIERS

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Imagine a future in which your new cell phone is delivered to your home by a courier who also sets up your new device for you. What about a courier who can deliver a spare part for your washing machine and install it while he is there? These were some of the scenarios explored by parcel industry experts in an absorbing panel discussion on e-commerce and the last mile at the 2022 SAPICS Conference for supply chain professionals. The COVID-19 pandemic triggered unprecedented growth in e-commerce and the courier industry.…

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IMPERIAL ACQUIRES CONTROLLING STAKE IN ‘AFRICA FMCG DISTRIBUTION LTD’ IN NIGERIA

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Imperial, owned by DP World, has announced its Market Access business has completed the strategic acquisition of a controlling stake in Africa FMCG Distribution Ltd (AFMCG), which is part of the Chanrai Group of Companies. AFMCG is a multi-faceted business, distributing products that positively impact the lives of consumers in Africa every day. The business offers a nationwide and best-in-class route-to-market solution across multiple channels in Nigeria. Its services also extend to co-manufacturing, co-packing, sourcing and value-added services in the fast-moving consumer goods (FMCG) sector. Representing some of the world’s…

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Free Trade Deal Boosts Africa’s Economic Development

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HIGHLIGHTS A new agreement creating Africa’s first continent-wide free trade area could generate greater economic benefits than previously estimated. The African Continental Free Trade Area (AfCFTA), if fully implemented, could raise incomes by 9 percent by 2035 and lift 50 million people out of extreme poverty. To realize its potential benefits, the agreement must accomplish its most ambitious goals, which include harmonizing policies on e-commerce, investment, and intellectual property. The African Continental Free Trade Area (AfCFTA) could deliver far greater benefits in terms of jobs, growth, and poverty reduction than…

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AfCFTA To Encourage Use Of Local Currencies To Boost Trade

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The African Continental Free Trade Area (AfCFTA) on Tuesday said it will promote the use of local currencies in order to boost trade amongst African countries. Prudence Sebahizi, the Chief Technical Advisor at the AfCFTA Secretariat told journalists in Nairobi, the capital of Kenya that currently most intra-Africa trade is settled using the U.S. dollars. “With the use of local currencies, the number of financial transactions will increase while the time it takes to make payments will reduce thereby boosting trade amongst African states,” Sebahizi said during the EABC-Trade Mark…

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