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Lagos, South Africa and New York
Saturday, August 8, 2020

On cusp of pan-African trade deal, giant Nigeria clings to protection

Adeleke Adeleye stands in front of a bank of whirring printers spinning out dozens of envelopes a minute in Nigeria’s commercial capital of Lagos. His stationery company, FAE Ltd, is thriving and will move into a larger factory nearby by the end of next year. But...

The Dollar, the Euro, the Yen — and Now the West African Eco

Regional currency aims to bolster trade despite obstacles Debate over fixed or floating regime could again delay launch Trading with any of the other members of the Economic Community of West African States requires him to find expensive...

Is African cattle investing – the new cash cow?

JOHANNESBURG/VRYHEID, South Africa (Reuters) - Cattle have long been considered a measure of wealth across Africa - but it is not just farmers cashing in. A pioneering app in South Africa lets investors, eager to benefit from rising global beef demand, buy shares in...

Economic “game changer”? African leaders launch free-trade zone

Boureima Balima NIAMEY (Reuters) - African leaders met on Sunday to launch a continental free-trade zone that if successful would unite 1.3 billion people, create a $3.4 trillion economic bloc and usher in a new era of development. After four years of talks, an agreement to...

Will West Africa’s single currency ‘eco’ transform regional economies?

By Louise Dewast BBC Africa, Dakar Fifteen countries in West Africa have agreed to adopt a single currency next year called the eco. Experts are divided on the impact it would have on the region's economy, especially in the eight member states which...

Africa to decide on free-trade zone: what’s at stake?

Duncan Miriri NAIROBI, July 4 - African leaders will decide on Sunday which nation will host the headquarters for a continental free-trade zone that aims to eventually unite the continent’s 1.27 billion people and its $3.4 trillion nominal gross domestic product. Leaders at the African...

Understanding Facebook’s new cryptocurrency ‘Libra’

Move fast and bank things What is Libra? It’s an excellent book by Don DeLillo, the American master. Published in 1988, it is a fictional account of the life of Lee Harvey Oswald, President John F. Kennedy’s eventual assassin. It’s better than White Noise but not...

In Emerging Markets, The Unbanked Don’t Need Facebook’s Libra Currency

By Adam Minter In emerging markets, more local solutions are likely to hold their own against the social-media giant’s Libra currency. Among Facebook Inc.’s justifications for introducing a new digital currency, Libra, the company has offered one pious rationale: to connect the 1.7 billion...

How Oil discovery, Biafra war led to collapse of coal production in Nigeria

A major incentive for colonial rule in Nigeria were her natural resources and the wealth hidden beneath her soils, including large deposits of minerals strewn around the country. So alluring and wide spread were these deposits that it motivated the colonial government to amalgamate...

Why Nigeria should join continent’s new trade zone – African Union

Continent’s largest economy is worried the deal will hurt its local industries The African Union has urged Nigeria, the continent’s biggest economy, to join a new pan-African trade zone before the agreement comes into effect at the of the month. The African Continental Free Trade...
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