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Ethiopia: Oil’s New Equilibrum

AFRICANGLOBE - Oil prices have been heading south again, with a barrel of US crude recently falling below 42 dollars - the lowest level since March 2009, the nadir of the global financial crisis. And, while last year's sharp price drop was heavily influenced by two large supply shocks, the current decline also has an important demand dimension.

Boom Time In Africa, But Brainstorm Self-Reliance

AFRICANGLOBE - African economies are booming. According to the latest figures from the World Bank, Kenya, Nigeria and Ethiopia are among the fastest, growing economies in the world — but many have questioned if this growth is sustainable or, indeed, if it is coming at the expense of the poor and vulnerable.

Bust Or Boom? Oil Prices And Africa

AFRICANGLOBE - As oil prices dipped below US$50 a barrel in January, Nigeria’s finance minister put a brave face on her country’s revenue crisis. Nigerians, she said, should start thinking of Africa’s largest oil producer as a “non-oil country”.

The 15 Most Miserable Economies In The World

AFRICANGLOBE - Inflation is a disease that can wreck a society, Milton Friedman, the late Nobel laureate economist, once said. Add rising unemployment to the diagnosis, and his profession ascribes a rather non-technical term to the debilitating effect on people: misery.

African Economies To Perform Better In 2015

AFRICANGLOBE - African economies will continue to grow in 2015 due to private investment and consumption, which have been key drivers of Gross Domestic Product (GDP) over the past years, a new UN report projects.

Africa’s Growth To Go Beyond Oil, Commodities In 2015

AFRICANGLOBE - Economic experts from across the African continent say this may be an exciting year for African economies, which could be ready to move out of their traditional roles and into new sectors.

Oil Prices And African Economies

AFRICANGLOBE - “The macroeconomic malaise in both Russia and Nigeria as a result of the plunge in oil prices is a clear reminder to the East African economies that while oil and gas will open up new sources of government revenue and foreign exchange inflows, the other sectors of the economy should not be ignored. In any case, it would be prudent to direct the oil and gas revenues to facilitate the growth of manufacturing, services and agricultural sectors.”

Oil Pricing-War Between Africa And The Gulf

AFRICANGLOBE - Asia has become a hotspot for a price war between African and Gulf oil producers who, hobbled by bulging global supplies and waning demand, are offering steep discounts to defend their market share in the world's top net crude buying region.

How The Chinese Are Hurting African Economies

AFRICANGLOBE - From Nigeria to Uganda and Kenya, Chinese companies are hurting the African economy through a culture of bribery and corruption that has seen them salt away millions of dollars, proceeds from inflated contracts sums and other untoward deals that border on sleaze and bribery.

What The Rest Of Africa Could Learn From Rwanda

AFRICANGLOBE - The Doing Business rankings released last year revealed that Rwanda had shot up a whopping 22 places since the previous year, now 32nd.

Africa Records Impressive 2.2 Trillion GDP Growth in 13 Years –...

AFRICANGLOBE - Africa's GDP has increased from $600bn to $2.2 trillion since the year 2000 and the continent "now offers the highest risk adjusted return on investment... our economic managers are doing a reasonably good job navigating the difficult global economic slowdown.

Africa Business Confidence Remains World’s Highest

AFRICANGLOBE - Business confidence in Africa remains the highest in the world, according to the, annual YPO Global Pulse Confidence Index for Africa. Business confidence, which in essence refers to confidence among African business leaders about business conditions in the continent, had leapt more than six points in the fourth quarter of last year.

South African Minister Calls For Focus On African Economies

AFRICANGLOBE - A prominent South African government minister has called on the country’s businesses to re-ignite their attention to invest in African economies. South African companies have been moving in droves to invest in the African continent in the past couple of years. But clearly the minister believes that more needs to be done.

Continued Growth for African Economies In 2013

AFRICANGLOBE - African economies are expected to record an average 4.5 percent growth this year despite a slowdown in the global economy, the United Nations economic annual report says. According to the World Economic Situation and Prospects 2013 (WESP) released on Monday most African countries will post much stronger growth than the global average.

How Will African Economies Fare in 2013?

AFRICANGLOBE - In 2013, Africa is likely to maintain its decade-old pace setting annual average economic growth rate of 5 percent or more, according to estimates from the World Bank, the International Monetary Fund and the Africa Development Bank. The strong economic growth will likely extend beyond 2013 as Africa benefits from natural resource boom, strong internal demand by rapidly growing middle class.

Trade Among African Countries Essential to Sustainable Growth

AFRICANGLOBE - Marking Africa Industrialization Day, Secretary-General Ban Ki-moon today flagged the role that trade among African countries play in achieving sustainable, inclusive and equitable growth...