Economy

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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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    The World Bank has published the 2015 rankings in its Country Policy and Institutional Assessment (CPIA) report for Africa. Revised annually, the CPIA score evaluates, on a scale of 1 to 6, the capacity of a country's policies and institutions to support sustainable growth and poverty reduction. With Cape Verde and Senegal, West Africa is home to the second and third best scores in the continental ranking, after Rwanda. Read on
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    SWAC: 
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    With growth estimated at 3.3%, the West African economy was less dynamic than that of East Africa (6.3%), Central Africa (3.7%) and North Africa (3.5 %), but stronger than that of Southern Africa (2.8%). This performance is mainly due to the economic downturn in Nigeria. In the short term, the report forecasts a gradual recovery in economic activity in the region, which is expected to grow 4.3% in 2016 and 5.5% in 2017. Côte d’Ivoire could become the continent’s most dynamic economy in 2016, with growth of 8.6%. Read on
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    Eradicating poverty and ensuring food security depends on the health of the ecosystems that underpin human health, well-being, livelihoods, jobs and sustainable growth. Nigerian Minister of Environment Amina J Mohammed makes the case for an ecosystem-based adaptation approach to agriculture in an opinion article in Al Jazeera. Read on
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    In an interview with the French Institute of International Relations (IFRI), NEPAD CEO Ibrahim Mayaki analyses the dynamics of industrialisation in Africa and explains the challenges facing West Africa in this area. Industrialisation in the sub-region lags significantly behind the two major industrial regions that make up North Africa on the one hand and Southern and East Africa on the other. Read on
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    Nigeria has the largest economy on the continent but its development receives little attention in the global debate on international security, economic development and humanitarian issues. The country, however, faces many difficulties. These were discussed at a conference of the Africa Security Initiative at the Brookings Institution on 29 February... Read on

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