Economy

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    The 2016 Corruption Perceptions Index, published by Transparency International, draws a disturbing picture of the perceived level of corruption in West Africa. Admittedly, the region includes Cabo Verde, which is second on the list of best-rated African countries after Botswana. But in general, the situation is worrying. Read on
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    With the return of Morocco decided on 30 January 2017, all African states are now members of the African Union. The 55 members are grouped into five geographic regions (North, South, West, East and Central). The diaspora was constituted as the sixth region in 2003 to encourage the participation of people of African origin living outside the continent. Read on
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    Despite the economic slow-down, Africa has enormous unexploited development potential. The continent needs to adjust to the current situation and invest in its future, explained Roger Nord, Deputy Director of the IMF’s African Department, in an article published on the Ideas4Development blog. Read on
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    An ambitious flagship project, the long-awaited construction of a trans-African gas pipeline connecting Nigeria via Morocco to Europe, might finally advance. The project was officially announced in December 2016 during a visit of King Mohammed VI to Nigeria. The 4 000 km pipeline will run along the Gulf of Guinea countries and will help create industrial hubs, and thereby will also boost regional economic integration beyond the energy sector. Read on
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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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