Paris is working on a new, and fairer way to engage with Africa, especially as it looks to expand its bilateral relationship with Nigeria - the ... biggest economy on the continent, says Franck Riester, France's minister of foreign trade and attractiveness, in an interview from Abuja
Yes, the collapse of tourism is hitting the region hard.
But it is one of the world’s fastest-growing areas outside of Asia, with a 2021 growth rebound of 4.8% predicted by the IMF. There are deep-seated reasons for that, which include the end of conflicts in certain countries, and strong state investments in physical and social infrastructure. Life expectancy at birth in East Africa has risen by almost seven years over the past decade.
The structure of East Africa’s economies may also play a role in its resilience, argues Andrew Mold, who is in charge of the East Africa office of the UN Economic Commission for Africa (UNECA). Households in the region tend to be rural and focused on agriculture, a resilient sector. The price of commodities like oil has been slashed, which has eased East African countries’ import bills, too.