Economic

Addressing Commodity Dependence for Inclusive Economic Development

From Vulnerability to Resilience: Addressing Commodity Dependence for Inclusive Economic Development

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Commodity dependence is a significant issue affecting global trade and development, particularly in developing countries. This article explores the key aspects and expanded analysis of commodity dependence, its implications for economic and human well-being, and strategic policy recommendations for addressing these challenges. Key Aspects and Expanded Analysis of Commodity Dependence Source: UNCTAD secretariat based on […]

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a city with rainbow colored lines

Economic Diversification in Africa: Overcoming Reliance on Primary Industry for Sustainable Growth

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Over the years, Africa’s economic landscape has been characterised by heavy reliance on primary industry and primary sector exports. As the continent developed, primary industry has become the backbone of the wider African economy and employs a significant portion of the continent’s workforce. Historical focus on these industries, particularly agriculture and fossil fuels (to name

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A focus on migration

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The International Organization for Migration (IOM)’s flagship World Migration Report aims to clarify and demystify global migration trends with accurate, evidence-based information. This IOM initiative is crucial as migration often suffers from widespread misinformation and politicization, leading to distorted public perceptions. Key Points from the World Migration Report: Global Scope of Migration: The report details

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Remittances

Bridging Economies: How Remittances Outpace FDI and ODA in Supporting Global South Development

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In the dynamic economic landscapes of low- and middle-income countries (LMICs), remittances have emerged as a cornerstone of financial stability and social development. According to the World Bank, remittances to LMICs surged by 5% in 2022 to reach a substantial $614 billion, underscoring their vital role in bolstering household incomes and alleviating poverty despite global

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From Smoke to Solutions: The Pivotal Summit to Revolutionize Clean Cooking in Africa

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The inaugural Summit on Clean Cooking in Africa, held on May 14, 2024, at the UNESCO Headquarters in Paris, marked a pivotal moment in addressing a long-standing issue affecting over a billion people in Africa. Co-chaired by the leaders of Tanzania and Norway, and key organizations like the African Development Bank (AfDB) and the International

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Energizing Development: How 300 Million Africans Will Gain Electricity

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The World Bank Group, in collaboration with the African Development Bank Group (AfDB), launched an ambitious initiative to electrify 300 million Africans by 2030. Unveiled during the recent World Bank and International Monetary Fund Spring Meetings in Washington, this plan aims to drastically reduce the number of individuals without access to electricity, thereby cutting it

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Navigating Troubled Waters: The Impact of Red Sea Attacks on Africa’s Maritime Security

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Recent maritime attacks in the Red Sea and Western Indian Ocean have underscored the fragility of Africa’s maritime infrastructure, with broad implications for the continent’s economy, security, and environmental health. These incidents have exposed critical vulnerabilities, leading to disruptions in global trade, increased insurance costs, and significant fiscal challenges, particularly for nations like Egypt reliant

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