Tag Archives: GDP

GDP: Latest News

  • Opinion: A Robust Auto Industry Could Make Nigeria One Of Top 10 World Economies

    robust auto industry could make Nigeria By Staff, 5:36 pm

    Poor power supply is partly to blame for the Nigerian government’s inability to build a robust auto industry. That leaves vehicle imports as one of the only ways to meet local demand. Nigeria’s auto market is worth over $4 billion a year, but it does not translate into anything meaningful, a stakeholder said. Starting in 2015, stiff new tariffs were levied on new and used Nigerian vehicle imports. Imports fell more than 50 percent.

  • East Africa’s Informal Sector Is Growing: Who’s Investing In It, And Why

    East Africa's informal sector By Staff, 6:12 pm

    Where there are challenges or deficits, business and investment opportunities often emerge in the informal sector. The East African informal sector contributes 30-40% of GDP. Operating off the grid (not paying taxes), informal-sector employers and employees run the risk of punishment, limited police protection, and lack of social support services. Consumers help keep the informal sector growing, and it’s not going away anytime soon. Formal companies are getting rich providing services to the millions of consumers who use informal services. Here are some of them.

  • Ethiopia Could Overtake Kenya This Year As Top East African Economy

    Ethiopia could overtake Kenya By Staff, 12:01 am

    Ethiopia’s economy is expected to overtake Kenya’s this year, buoyed by massive government spending on infrastructure. The IMF estimates Ethiopia’s GDP will grow to $69.21 billion this year, narrowly edging out Kenya’s at $69.17 billion. Kenya is viewed as more democratic than Ethiopia, where authoritarian rule is marked by crackdowns on the press and its own citizens, such as the Oromo. Kenya also has a more open economy, while Ethiopia closes most sectors of its economy to foreign investors.

  • 3 Economies Account for Half Of Africa’s GDP. Here Are The Top 10

    Africa's GDP By Dana Sanchez, 3:27 pm AFKI Original

    With investors showing increased interest in African equity and bond markets and through direct investment, data issues are getting more urgent. Accurate and transparent statistics are essential indicators of economic potential, economists say. African countries generally fail to accurately record the size of the informal economy which could account for up to 62.7 percent of GDP. Three of the 10 countries listed here are expected to see their GDPs decrease in 2016. For others, it’s still Africa rising. Here’s what we know.

  • Birthplace Of Bling: 10 Most Mineral-Rich African Countries

    most mineral-rich African countries By Keren Mikva, 1:52 pm

    When it comes to the stuff bling is made of, Africa is enormously bountiful. Its mineral deposits make it one of the richest natural resource-laden places on Earth and everyone wants some. The following are the most mineral-rich African countries.

  • Economic Consequences Of Child Marriage In Mozambique, And What It Will Take To End The Tradition

    child marriage in Mozambique By Alexis Barnes, 7:13 pm AFKI Original

    Pregnancy is a legitimate fear in Mozambique, where 48 percent of women were married by age 18. Child brides are more likely to be poor and stay poor. Mozambique recently joined Egypt, Zambia and Ethiopia as a growing number of governments develop strategies, on paper at least, to end child marriage. “It is a waste when half the population is not contributing to the prosperity of a country,” a stakeholder said.

  • After The Honeymoon: Seychelles Economy Vulnerable To External Shocks

    Seychelles Economy By Kurt Davis Jr., 8:24 am AFKI Original

    Seychelles Finance Minister Jean Paul Adam isn’t worried. The African island nation, population 90,000, is a top 10 honeymoon destination. It’s not a major economy or a diverse one, relying on tourism and fisheries. But lack of economic diversity leaves the country vulnerable to external shocks. Brexit, a slowing global economy, and weakening economies in other sub-Saharan countries are creating an unexpected tropical storm for this sunny patch of islands. IMF’s 3%-plus growth forecast for Seychelles may fall to 2.5%.

  • South Africa Reclaims Title From Nigeria As Top African Economy, Both Face Recession

    By Dana Sanchez, 4:03 pm

    In the long run, Nigeria will likely regain the title as Africa’s largest economy, but “the momentum that took it there in the first place is now long gone,” an economist told Bloomberg. In the short term, ranking African economies is likely to be determined by exchange rate movements, not growth. South Africa’s economy is more diverse, while Nigeria depends almost completely on oil exports.

  • Africa Writhing: 5 African Economies That Are Beating The Odds

    African economies that are beating the odds By Dana Sanchez, 1:03 pm

    Copper-rich Democratic Republic of Congo is vying with Zambia to be Africa’s top producer. A new hydropower facility that the DRC government is planning to build could help shape Africa this century. It is one of DRC’s strategies for providing the energy it needs to free its economy. These aren’t the largest or most developed countries in Africa. Some are plagued with corruption and inequality. All have fast-growing economies.

  • Growth Slowed In 2015 For DRC To 7.7 Percent

    Growth slowed in 2015 for DRC By Staff, 4:37 pm

    Democratic Republic of Congo has been one of sub-Saharan Africa’s strongest performers in terms of real gross domestic product growth over the past five years, as the economy recovers from a civil war that ended in 2003. But uncertainty over whether the country will hold elections this year has alarmed foreign investors. A slump in global commodities prices hit DRC’s mining industry, which has been forced to scale back production.

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