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
African Development Bank
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 : 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 Linguistic Divide: French vs. English
Another of our Wednesday rendezvous with Africa... We will be looking at how former British colonies have fared in comparison to their francophone counterparts. Part of our tribute to 50 years of independence for many nations across the continent this year, our series in partnership with sister station Radio France International. Most of those countries are former French … [Read more...] about Africa’s Linguistic Divide: French vs. English
PROJECT PROPOSAL : CREATION OF THE AFRICAN DIASPORA INVESTMENT BANK (ADIB)
The promoter of the African Diaspora Investment Bank (ADIB) is the London-based Senegalese banker Sanou Mbaye, a former member of the senior management team of the African Development Bank, and the author of “L’Afrique au secours de l’Afrique” (Africa to the Rescue of Africa). African migrant remittances to their country of origin is such an important source of finance that … [Read more...] about PROJECT PROPOSAL : CREATION OF THE AFRICAN DIASPORA INVESTMENT BANK (ADIB)
BOOM OF RAW MATERIALS
Two major events combined to drive oil and raw material prices at new height. First, financial turmoil linked to the subprime credit crisis, growing risk of inflation, a weak US economy and a falling dollar have made attractive oil and precious metals such as gold and platinum as safe sheltering values for investors and speculators as well. Increased demand for raw materials … [Read more...] about BOOM OF RAW MATERIALS
China’s Grand Africa Strategy
Ever since the Berlin conference of 1883, which Belgium’s King Leopold II called “the sharing of Africa’s cake,” the West has assumed exclusive rights over sub-Saharan Africa. But, while centuries of struggle to end colonial rule and apartheid have not changed this much, now Western influence is being challenged by China, which likewise covets Africa’s rich reserves of minerals … [Read more...] about China’s Grand Africa Strategy
The African Union : A need to go back to the drawing board
Background The yearning for regional cooperation and economic integration in Africa was born in the United States within the pan-African movement in the 19th Century and has been kept alive ever since among the masses, the elite and the members of the Diaspora. This hope is so compelling that all African leaders have felt obliged to put it heartedly or opportunistically on … [Read more...] about The African Union : A need to go back to the drawing board
How best can the EU support the new AU Key Questions for Contact Person
Background The yearning for regional cooperation and economic integration in Africa was born in the United States within the pan-African movement in the 19th Century and has been kept alive ever since among the masses, the elite and the members of the Diaspora. This hope is so compelling that all African leaders have felt obliged to put it heartedly or lukewarmly on their … [Read more...] about How best can the EU support the new AU Key Questions for Contact Person
Sub-Saharan Africa on the Sidelines, A false economic dawn?
After the collapse of the Mobutu regime Zaire, now renamed the Democratic Republic of Congo, has been left stripped of resources, in spite of the mineral wealth being eyed covetously by foreign investors. Elsewhere, the International Monetary Fund's figures point to a significant improvement in sub-Saharan Africa. However, imposing structural adjustment, privatisation and … [Read more...] about Sub-Saharan Africa on the Sidelines, A false economic dawn?
