Economy

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    The 27th Africa-France Summit was held on 13-14 January 2017 in Bamako. The summit’s two main themes were: “Peace and Security” and “Emergence, Economy and Development.” François Hollande’s choice to hold the summit in Mali allowed recalling some of his greatest foreign policy achievements. Indeed, it is in Mali that President Hollande launched Operation Serval on 11 January 2013 to counter the jihadist insurgency in the northern part of the country. Read on
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    Opposition leader Nana Akufo-Addo won Ghana’s presidential election on 9 December 2016 with 53.85% of the vote against incumbent President John Dramani Mahama who won 44.40% of the vote. The voter turnout was 68.62%. It was Akufo-Addo’s third time running for president in Ghana. “Ghana is open for business again,” was one of the newly elected president’s key messages. Indeed, President Akufo-Addo won the election with his promise of “Change: an Agenda for Jobs - Creating Prosperity & Equal Opportunity for All.” Read on
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    Cotonou is getting ready to host the 5th UEMOA Regional Trade Fair, which aims to foster more economic integration within the UEMOA. From 25 November until 10 December, some 400 exhibition stands will attract visitors’ interests and promote their products under the “Made in UEMOA” label. Read on
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    The Monetary Policy Committee (MPC) of the Central Bank of West African States (BCEAO) announced that the average UEMOA GDP is expected to grow by 7.1% in 2016. This is less than the growth rate that was forecast during the first two trimesters, but it is slightly above the 2015 growth rate of 7%. The region’s prospects for growth in the medium-term are positive overall, despite consistent security concerns in member countries such as Mali or Niger. Read on
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    In this op-ed, Muhammadu Buhari, the President of Nigeria, responds to concerns about Africa's capacity grow economically, by presenting the project he is currently implementing in his country. He said it is time for African countries to lay the foundation for a development that transforms people’s lives and frees them from their dependence on raw materials. The country faces a threatening recession, so its path towards inclusive growth is still long. However, Nigeria’s challenges are not the most important factor, but it is the fact that Nigeria now knows its weaknesses and knows the direction it should it take to make the country’s emergence a reality. Read on
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    The President of the European Commission Jean-Claude Juncker announced the new European External Investment Plan (EIP) in his State of the Union speech on 14 September. The EU aims to encourage private sector investment in Africa and the EU neighbourhood. With EUR 3.35 billion from the EU budget and the European Development Fund, the Commission intends to mobilise, with guarantees of support, up to EUR 44 billion of investments. Read on
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    West African finance ministers met in Dakar on 15-16 August during the 18th meeting of the joint ECOWAS-UEMOA Committee on the management of the Common External Tariff (CET). The objective of the meeting was to discuss two major concerns: the regional economic partnership agreement (EPA) with the European Union and the implications for the ECOWAS Common External Tariff. Read on
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    Leaders from Burkina Faso and Côte d’Ivoire met at the 5th Conference of the Treaty of Friendship and Co-operation in Yamoussokro on 29 July. It is the first official visit of President Christian Kaboré to Côte d’Ivoire. The relationship of the two countries was put under strain, in particular over questions related to the international arrest warrant for ousted Burkinabe President Blaise Campaoré and President Ouattara’s decision to grant him Ivoirian nationality, ending the prospect of his extradition to Burkina Faso. Read on
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    The decision of the United Kingdom to leave the European Union has created shockwaves at the international level, with widespread discussion of the consequences for the rest of the world. This article presents different analyses of the implications of Brexit for Nigeria, the largest economy in Africa, which has significant economic ties with the UK. Read on
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    To accelerate their industrialisation in the face of tough global competition, West African countries must leverage their comparative and competitive advantages. Several strategies are available to them. The first is integration into global value chains, by initially developing low added value and labour intensive activities before gradually moving upmarket in the value chain. A second strategy is based on the transformation of local products, such as mango, shea, cashew and textiles. A third strategy is that of regional value chains, which focuses on local production of goods for regional markets. Read on

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