The decades when the continent couldn’t raise major funds on ordinary commercial markets are over, but there are still worries about over-indebtedness. by Sanou Mbaye The nations of sub-Saharan Africa, in the post-independence euphoria of the 1960s, wanted to end the international division of labour under which they exported raw materials and imported manufactured goods. … [Read more...] about Africa borrows on the open market
China
Liberating Africans from the CFA “franc” trap
Nowadays, African countries are wooed because they are perceived as the spearheads of the world economy. The Economist, the English weekly newspaper, predicts that in the next five years, seven out of ten fastest growing economies in the world will be in Africa: Ethiopia (8.1 per cent), Mozambique (7.7 per cent), Tanzania (7.2 per cent), Congo (7.0 per cent), Ghana (7.0 per … [Read more...] about Liberating Africans from the CFA “franc” trap
Africa’s French Roadblock
In recent years, China and Africa have formed one of the modern era’s most successful economic and trade partnerships. China benefits from Africa’s oil, minerals, and markets, while Africa benefits from increased trade and investment in infrastructure, health, education, small-scale businesses, and low and medium technologies. Some Western observers – and some Africans – … [Read more...] about Africa’s French Roadblock
Senegal’s Day Of Reckoning : It’s The Economy Stupid !
The Senegalese people are extremely disillusioned. In 2000, they enthusiastically went to the polls to elect Abdoulaye Wade as their president. Wade had campaigned as an agent of change, but change never came to Senegal throughout his decade in power. Now the only change he wants to make is to the constitution, so that he can retain his hold on power. Wade turned out to be … [Read more...] about Senegal’s Day Of Reckoning : It’s The Economy Stupid !
Africa : Economic growth and sustainability
Humboldt University Economic Forum Berlin, 11 May 2011 I. INTRODUCTION After four decades of sluggish economic activities, improved macroeconomic conditions, better business climate, political and currency stability, and a burgeoning middle class have triggered economic growth in many African countries. Telecom, banking, and retail are flourishing. Construction is … [Read more...] about Africa : Economic growth and sustainability
Africa’s Winds of Change Return
DAKAR – How did Ivory Coast come to this? After gaining independence from France in 1960 with Felix Houphouet-Boigny as President, the country became the world’s largest exporter of cocoa beans and a significant exporter of coffee and palm oil. Throughout the 1960’s and 1970’s, sizeable export earnings, combined with easy access to credit, fueled an economic surge dubbed the … [Read more...] about Africa’s Winds of Change Return
QUESTIONS ON THE FUTURE OF CHINA-AFRICA COOPERATION
China’s burgeoning relationship with Africa is being decried in some quarters, including western observers – and some Africans, too – as a new form of colonialism. Such criticism is largely misplaced. First, after having preached the globalisation tenet of economic liberalisation and free competition, the West cannot really grumble about being outbid by China in the race for … [Read more...] about QUESTIONS ON THE FUTURE OF CHINA-AFRICA COOPERATION
Regulating China-Africa cooperation imbalances
Oxford University China-Africa Network The Oxford University China-Africa Network (OUCAN) with the support of the Economic & Social Research Council (ESRC) present The Conference on "Chinese Investment and African Agency" hosted by the Department of Politics and International Relations, University of Oxford 11-12 March 2011 Regulating China-Africa cooperation … [Read more...] about Regulating China-Africa cooperation imbalances
China’s African Front
DAKAR – China’s sacred text is not a holy book like the Torah, the Bible, or the Koran. Instead, it is The Art of War by Sun-Tzu. Sun’s core belief is that the “ultimate excellence lies not in winning every battle but in defeating the enemy without ever fighting.” So it is no surprise that cunning and deception form an essential part of Chinese diplomatic and corporate … [Read more...] about China’s African Front
Africa’s two-tier economy
The year 2010 will mark the 50th anniversary of independence of most African countries. But is there much to celebrate? Economic situation has been improving in recent years – mostly in Eastern and Southern Africa, where economic integration is proceeding within the Common Market for Eastern and Southern Africa (COMESA) and the Southern Africa Development Community (SADC). … [Read more...] about Africa’s two-tier economy
CURRENCY WAR CLOUDS OVER AFRICA
As a result of chronically deficient demand in the aftermath of the 2008-2009 financial and economic crises, global imbalances are on the rise again, as is the risk of protectionism. The US accuses China of undervaluing its currency to support its industry. The situation could lead to an “international currency war”. What does this herald for African countries? If history … [Read more...] about CURRENCY WAR CLOUDS OVER AFRICA
CHINA’S GROWN ENGAGEMENT IN AFRICA WITH SANOU MBAYE
Africa Business News, Fri, 19 Nov 2010 A new book published this week examines China's grown engagement in Africa from the perspective of both African and Chinese civil society. ABN’s London Correspondent Carina Kamel speaks with Sanou Mbaye, a Senegalese economist, who is one of the authors of the book. http://vimeo.com/18035200 Related articles The book : [intlink … [Read more...] about CHINA’S GROWN ENGAGEMENT IN AFRICA WITH SANOU MBAYE
Chinese and African Perspectives on China in Africa
This new book in the Pambazuka Press 'China and Africa' series explores China's deepening engagement in Africa from the rarely heeded perspectives of African and Chinese civil society organisations. Description The deepening engagement of China in Africa since the end of the cold war has led to debates about the evolving nature of this relationship. Yet the focus of analysis … [Read more...] about Chinese and African Perspectives on China in Africa
Currency war : the stakes for Africa
A weaker exchange rate makes a country’s exports cheaper, potentially boosting a key source of growth for economies battling to find growth, as they emerge from the 2008-2009 credit crunch and economic crisis suffering from chronically deficient demand. Global imbalances are on the rise again, as is the risk of protectionism. Western countries are battling to keep their … [Read more...] about Currency war : the stakes for Africa
CHINA-AFRICA COOPERATION – THE STAKES
China-Africa Civil Society Dialogue : Development Challenges in Africa and the Chinese Development Experience Beijing, P.R. China, October 18th -19th , 2010 For most of the past five decades African countries were locked out of international capital markets. As a result, they have largely been spared the twin woes of the 2008 financial turmoil and subsequent world economic … [Read more...] about CHINA-AFRICA COOPERATION – THE STAKES