Nov. 29, 2023 /IEconomy/ — Zambia is a country in southern Africa that has been struggling with a heavy debt burden for many years. In 2020, the country became the first African nation to default on its sovereign debt during the COVID-19 pandemic. In an effort to get its finances back on track, Zambia has been seeking to restructure its debt with its creditors. Continue reading
Danny Bradlow, University of Pretoria
Three years after defaulting on its foreign debt, Zambia is still trying to reach agreement with all its creditors on how to manage this situation. This has left the southern African country in a state of development finance limbo. It is handicapped in raising the funds needed to generate jobs, build infrastructure, provide health, education and social services and deal with climate change. Its president, Hakainde Hichilema, has warned that the situation threatens to undermine its democracy.
The GEP Global Supply Chain Volatility Index — a leading indicator tracking demand conditions, shortages, transportation costs, inventories and backlogs based on a monthly survey of 27,000 businesses — fell from -0.18 in August to -0.35 in September, with a sharper increase in excess capacity across the world’s supply chains. Continue reading
Standard Chartered has today published its Future of Trade: Africa report, highlighting the outlook for African trade and providing a view of the African Continental Free Trade Area (AfCFTA) as a key proponent of optimising intra-African trade. Continue reading
Oct. 2, 2023 /Economy/ — The UK Chancellor’s decision to raise the minimum wage and impose sanctions on people claiming state benefits who refuse to take available jobs can be seen as a carrot and stick approach.
The carrot is the increase in the minimum wage. This will give low-paid workers more money to spend, which will boost the economy and help people to afford basic necessities. The stick is the sanctions that will be imposed on people who refuse to take available jobs. These sanctions could include a reduction in benefits, or even a complete loss of benefits. Continue reading
Sept. 17, 2023 — Whether or not AI will save Africa is a complex question with no easy answer. There are many factors to consider, such as the specific ways in which AI is used, the level of infrastructure and development in Africa, and the social and political landscape. Continue reading
Sept. 6, 2023 Social/ — Zambians are not proud to be British. Zambia is an independent country, and its citizens are proud to be Zambian. However, there is a history of mutual respect between Zambia and Britain, which may explain why some Zambians may have positive feelings towards Britain. Continue reading
Sept. 5, 2023 /Africa Business/ — China’s Belt and Road Initiative (BRI) is a vast infrastructure project that aims to connect Asia, Africa, and Europe through a network of railways, roads, ports, and other infrastructure. The initiative has been praised by some for its potential to boost economic development in Africa, but it has also been criticized for being a one-way street that benefits China more than Africa. Continue reading
July 17, 2023 /Politics/ — Kamala Harris was born in Oakland, California, and Hakainde Hichilema was born in Monze, Zambia. However, they have both visited Zambia and have expressed an interest in the country. In March 2023, Kamala Harris visited Zambia as part of a tour of Africa. She met with President Hichilema and other officials to discuss issues of democracy, governance, and economic development. Hakainde Hichilema has also visited the United States on several occasions. In 2019, he met with then-Vice President Mike Pence to discuss trade and investment opportunities between the two countries. Continue reading
The Global Black Economic Forum (GBEF) and StarNews Mobile (SNM) have announced a strategic partnership to empower Black entrepreneurs and promote collaboration among Black businesses globally. The alliance will leverage StarNews Mobile’s position as a leading media platform in Africa to expand GBEF’s presence on the continent and create a lasting impact on the African business landscape. Continue reading