News

Kenyan economy grows at an outstanding rate of 9.9 percent in the third quarter of 2021

Sunday, 02 January 2022 05:57

The Kenya National Bureau of Statistics (KNBS), in its latest Quarterly Gross Domestic Product Report, published in December 2021, reveals that Kenya’s real Gross Domestic Product (GDP) grew at an outstanding rate of 9.9 percent in the third quarter of 2021 (July-September), confirming the good performances of the Kenyan economy in the second quarter of 2021, when the country scored an impressive 10.1 per cent growth of its real GDP.

An assessment of how Africa can inclusively benefit from its unexploited trade potential under the AfCFTA

Thursday, 30 December 2021 06:36

The UNCTAD report on “Reaping the potential benefits of the African Continental Free Trade Area for inclusive growth” provides an assessment of how Africa can inclusively benefit from its unexploited trade potential under the African Continental Free Trade Area (AfCFTA).

National Bank of Ethiopia revises criteria for allocation of foreign currency for imports

Wednesday, 29 December 2021 06:36

Ethiopian importers need to convert the local currency (Birr) into a foreign currency in order to pay their foreign suppliers. To this end, the importer must request a foreign currency approval from the National Bank of Ethiopia (NBE) via its bank, by lodging an “application for foreign exchange” and depositing the corresponding amount in birr on its account. Because of the perennial shortage of foreign currency in Ethiopia, the process of foreign currency approval can take long.

The impact of border closures on West African trade

Tuesday, 28 December 2021 08:32

At the 60^th Ordinary Session of the Authority of Heads of State and Government of ECOWAS, held in Abuja on Sunday 12 December, 2021, leaders of West African countries have agreed to the reopening of all land borders in the region starting from January 1, 2022.

Domestic revenue mobilization vs customs revenues: the challenge for Africa

Monday, 27 December 2021 08:03

According to the recent Revenue Statistics in Africa report, a publication of the Organisation for Economic Co-operation and Development (OECD) released jointly with the Centre for Tax Policy and Administration (CTP), the OECD Development Centre (DEV), the African tax Administration Forum (ATAF) and the African Union Commission (AUC), domestic revenue mobilization in Africa is significantly low, compared with other geographic regions, mainly because of the limited size of the manufacturing sector and to its reduced contribution - in terms of taxes collected from this compartment of the economy - to the budget of African States. In 2017, on average, tax revenues collected by inland revenues authorities in Africa represented only 17.2% of GDP, while in Latin America and Caribbean countries this percentage reaches 22.8% and 34.2% in OECD countries.

News

Kenyan economy grows at an outstanding rate of 9.9 percent in the third quarter of 2021

An assessment of how Africa can inclusively benefit from its unexploited trade potential under the AfCFTA

National Bank of Ethiopia revises criteria for allocation of foreign currency for imports

The impact of border closures on West African trade

Domestic revenue mobilization vs customs revenues: the challenge for Africa

More Articles...

Main Menu