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Showing posts from January, 2020

Sub-Saharan Africa's economic recovery faces multiple risks

  Since 2017, sub-Saharan Africa has been recovering synchronously with the global economic tide, but this year's recovery in the region has encountered multiple obstacles, and the growth performance and development prospects of various economies have also become polarized.   International agencies lower growth forecast for this year   The International Monetary Fund (IMF) recently released the latest issue of "Economic Outlook for Sub-Saharan Africa" ​​report, which reduced the economic growth forecast for this region to 3.2% in 2019, which is the same as the growth rate in 2018, which is higher than the IMF's April this year. The forecast is 0.3 percentage points lower.   The IMF said that lowering expectations mainly reflects uncertainties in global growth, continued declines in crude oil exporting countries such as Nigeria and Angola, and weaker-than-expected growth in South Africa.   The report shows that the two major economies in the region, Nigeria and South A...

2018 African Forum focused on economic development and women's empowerment

The two-day Africa Forum 2018 ended on the evening of 9th in the Egyptian coastal city of Sharm El Sheikh. The forum focused on Africa's economic development, with particular focus on training young entrepreneurs and women's empowerment.   Egyptian President Cesi announced at the opening ceremony that Egypt will set up the first national entrepreneurship center to support startups and train young entrepreneurs; it is expected that 10,000 young people will be trained in the field of digital technology in the next three years.   "The challenges facing the global economy require us to support young African entrepreneurs who are the most important asset of the African continent," he said.   Sisi revealed that Egypt's investment in African countries will increase by 1.2 billion US dollars in 2018, totaling 10.2 billion US dollars.   At the closing ceremony, Sisi announced that Egypt will set up an insurance fund to encourage Egyptian entrepreneurs to invest in African ...

Africa's freshman in a century of change

  Cape Coast, Ghana, Gore Island, Senegal, and the slave trade base along the Gulf of Benin have witnessed the history of humiliation and bloody tears brought to Africa by Western colonialism. Colonial invasion and oppression disrupted and delayed the development process of the African continent, and once caused localized and local development to freeze and stagnate.   The wheels of history are moving forward, and Africa keeps chasing. With the world facing unprecedented changes in a century, Africa has ushered in a rare opportunity to achieve stable development, speed up the process of integration and enhance its international status.   In the first decade of the 21st century, six of the ten fastest growing economies in the world were in sub-Saharan Africa. This ancient continent is being reborn.    Political stability stabilizes the foundation for Africa's accelerated development   In 1901, in Kenya, East Africa, British settlers built a meter-gauge railway to connect t...