Ghana’s Import duties target missed by GH¢427.55m

Ghana’s Import duties target missed by GH¢427.55m

Reveue generated from taxes on goods imported from other countries yielded only GH¢829.71 million in the first quarter of this year, 34 per cent short of the target. This is against a target of GH¢1.26 billion, a shortfall of GH¢427.55 million which represents 34.01 per cent, according to a provisional fiscal data released by the…

Angela Kyerematen-Jimoh appointed as Regional Head of IBM Africa

Angela Kyerematen-Jimoh appointed as Regional Head of IBM Africa

Technology giant, IBM Corporation has appointed Angela Kyerematen-Jimoh as Regional Head for North, East and West Africa where she will be responsible for IBM operations in over 40 countries in Africa including Morocco, Nigeria, Kenya, Senegal, Uganda, Ghana and Tunisia. Before her appointment, Ms. Kyerematen-Jimoh was Chief of Staff to the Senior Vice President in…

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AfDB Regional Economic Outlook 2020: Harnessing West Africa youth workforce could speed economic recovery in the post-COVID-19 era

The report points to policies needed to improve skills to empower the West African labour force Growth in West Africa, poised to expand by 4.0 percent in 2020, now projected to contract by -2.0 percent in 2020; Demand for science, technology, engineering and mathematics increasing, though school enrolment, retention rates poor. West Africa’s burgeoning youth…

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Moody’s – Coronavirus fallout poses a long-lasting economic, financial and social threat to African sovereigns

African sovereigns’ border closures and broader lockdown measures have significantly slowed small-scale trade across Africa, a crucial source of income and employment on the continent Recovery will be slow and there is a risk of longer-term scarring from the crisis Falling revenues from economic slowdown, spending on measures, and a rise in healthcare spending will…

US$324m worth of oil projects postponed due to COVID-19

So far, an estimated US$324million worth of drilling, acquisition and interpretation of seismic, geological and geophysics data projects have been postponed across the petroleum upstream sector, the National Petroleum Commission has said as the coronavirus pandemic continues to wreak havoc on the country’s oil and gas industry. Among them is included the Eban 1X exploratory…

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Use borrowed monies for productive activities – AfDB tells Africa

The African Development Bank (AfDB) has urged governments across the continent to use monies borrowed from the international community to undertake productive ventures that will pay back, as the pandemic-induced debts are likely to plunge many countries into distress. Ever since the coronavirus disease began hitting economies around the world, several governments, including those from…

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Mo Ibrahim’s thoughts ….No recovery without debt relief

Last month, the African Union launched the Africa Medical Supplies Platform to facilitate the production and provision of vital medical equipment – the latest achievement in an already impressive response to the COVID-19 crisis. Yet, in the same week, it was revealed that most of Nigeria’s federal government revenue was going to debt-service payments, and…

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Xi’s trade-off: strategic patience versus political legitimacy

How much longer can Xi Jinping claim political legitimacy as guardian of the great Chinese nation? His policy choices on Taiwan, Trump and Tiananmen, combined with a slowing economy, could prove treacherous, argues Greg Austin. China’s President Xi Jinping is facing a leadership crisis. During the November 2019 BRICs summit, he described the current set…

Can there be any winners in the US­–China ‘tech war’?

In the same week that the Trump administration signed a ceasefire agreement in its trade war with China, it intensified its major campaign against Huawei 5G, explains Greg Austin. Can the United States win this so-called ‘tech war’? When Donald Trump solemnly announced the reasons behind his trade war with China in late March 2018,…

Can there be a winner in the U.S.–China ‘tech war’?

This article is part of the World Economic Forum’s Geostrategy platform When Donald Trump solemnly announced the reasons behind his trade war with China in late March 2018, he accused China of ‘economic aggression’. This concept has not figured in formal US economic diplomacy since 1943, when a senior US official accused Nazi Germany of this practice during…