The Francophone countries coming together to replace the colonial currency, the CFA Franc with the Eco, may be “a major step forward and a ... positive thing,” says Andrew S. Nevin, Chief Economist, Nigeria Clients and Markets Leader at PricewaterhouseCoopers (PwC). But for Nigeria, the eventual uniformed adoption of the single currency challenges the sovereignty of its naira.
Protests against racism have erupted around the globe in recent weeks, sparked by the murder of a black man, George Floyd, at the hands of a ... white police officer in Minnesota, in the United States. This act of racial violence serves as a timely reminder of the racial inequalities that persist for black people around the world, African diasporas being no exception.
Despite the effects of COVID-19, Africa’s young creative industries remain ripe for investment opportunities. African music, film, and fashion ... continue to gain global popularity, with companies like Netflix and Universal Music Group expanding their presence on the continent.
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In the middle of a field, far away from the big cities, and often without any internet connection, how can technology serve any purpose to the ... farmers working the land? One Ghanaian teenager has an answer to that question.
After Ghana discovered oil and gas in 2007, the government and civil society aspired to avoid the “resource curse”. This is when countries ... have an abundance of non-renewable natural resources but no economic growth.
Ghana was the first sub-Saharan African country to ease restrictions when it lifted lockdown measures on 20 April. The country’s Minister of ... Finance Ken Ofori-Atta argued the 21-day lockdown of Ghana’s biggest cities had become financially unbearable for most of the population, a concern that gave the government little choice but to lift the restriction.
The crash in oil and gas prices, triggered by the coronavirus pandemic and the slump in economic activity, has dealt a blow to the plans and ... public finances of major oil- and gas-producing countries. But a group of countries in sub-Saharan Africa once designated as “prospective producers” are facing a different challenge.
On 20 May, the French Council of Ministers passed a bill modifying its monetary agreement with the eight member states of the West African Economic ... and Monetary Union (UEMOA), following the unexpected CFA franc reform announced this past December.