economy

On the 16th of August 2024, United Nations (UN) Member States adopted, by an overwhelming majority, the Ad Hoc Committee’s Draft Terms of Reference for a United Nations Framework Convention on International Tax Cooperation. This historic vote comes almost a decade after the High-Level Panel on Illicit Financial Flows from Africa (HLP), chaired by former …

Historic UN tax vote builds on Africa’s decade-long quest – New Business Read More »

The United Nations Development Program (UNDP), the United Nations Economic Commission for Africa (ECA), and the African Development Bank (AfDB), presented today the 2024 Africa Sustainable Development Report (ASDR). The report is presented at an event held on the margins of the UN High-Level Political Forum for Sustainable Development in New York. Scaled-up access to …

Africa sustainable development report launched in New York – New Business Read More »

By Anwar Hussen Mohammed – Ethiopia’s economic boom of the past decade has hit a snag – a foreign exchange (forex) shortage. This lack of readily available foreign currency hinders businesses, slows growth, and creates a complex situation for the Ethiopian government. The Ethiopian Birr (ETB) is currently worth around 0.017 US dollars (USD). This …

struggles, strategies for sustainable future – New Business Read More »

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a grant funding of $8.6 million to South Sudan to advance the second phase of the Non-Oil Revenue Mobilization and Accountability Project (NORMA II). The African Development Fund (ADF), the Bank Group’s concessional window, will provide $6.62 million, while $1.98 million will …

African Development Bank provides $8.6 million to South Sudan – New Business Read More »

African economies remain resilient, despite challenges that are testing economies worldwide with of the economies set to experience stronger growth, according to the latest African Development Bank Group’s African Economic Outlook. The report stated that 41 countries on the continent are projected to experience stronger growth rates in 2024 than they did in 2023. The …

Most African economies set to experience stronger growth – New Business Read More »

The latest Chief Economists Outlook released today presents a growing sense of cautious optimism about the global economy in 2024. More than eight in ten chief economists expect the global economy to either strengthen or remain stable this year – nearly double the proportion in the previous report. The share of those predicting a downturn …

Global economy outlook brightening in 2024 with political risks – etbaba.com Read More »