Nigeria still seems fixated on the Global North as the wind blows in the opposite direction. The largest foreign investors in Nigeria – the UK, the Netherlands, France and the US – have not changed style since the 1950s. Their investments are mainly elitist, essentially in oil and gas, and ammunition, and portfolio investments, which mainly profit them, not Nigeria. Over time, not much has changed, and little has been done to invest in areas that improve the everyday life…

Upon arriving in Rio de Janeiro for the 19th G20 Summit on Sunday, Chinese President Xi Jinping expressed readiness to work with all parties for an equal and orderly multi-polar world and a universally beneficial and inclusive economic globalization. In a written statement, Xi hoped for the G20’s greater role as an important platform for international economic cooperation. This year’s G20 Leaders’ Summit, scheduled for Nov. 18-19, marks the first gathering of the kind since the accession of the African…

The Southern African Development Community (SADC) has called for the “immediate and unconditional” removal of economic sanctions on Zimbabwe, describing them as “illegal measures that violate the basic human rights of ordinary Zimbabweans.”  This call came on the 25th of October, which SADC has designated as Anti-Sanctions Day, a day set aside annually to spotlight and protest against the sanctions imposed on SADC member states.  In a media statement released on Friday, October 25, 2024, Zimbabwean President and SADC Chairperson…

Ethiopia is looking to enhance cooperation with other BRICS countries on sustainable forestry and reforestation following its recent participation in BRICS discussions on climate change and a just transition at the African Union (AU). Jafar Bedru, Executive Director of Institute of Foreign Affairs, emphasised that Ethiopia is keen to use its membership of BRICS to share knowledge and adopt best practices in sustainable forestry and reforestation.  He noted that Ethiopia’s partnership with other BRICS countries will strengthen its capacity to…

The 10 partnership action plans proposed by Chinese President Xi Jinping at the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) are all in line with the African Union’s Agenda 2063, said South African President Cyril Ramaphosa. In a keynote speech at the opening ceremony of the summit, Xi said that China stands ready to work with Africa to implement 10 partnership action plans in the next three years to jointly advance modernization. The 10 partnership action plans will…

Chinese Ambassador to South Africa, Wu Peng, says the “comrades plus brothers” special bond between China and South Africa is growing and that the bilateral relations between the two countries have entered a golden era. Peng made these remarks following a courtesy call to South African President Cyril Ramaphosa on Wednesday, August 28th. China is currently South Africa’s largest trading partner and serves as a key source of foreign direct investments (FDI). In 2023, the China-South Africa bilateral trade reached…

Given the rate at which youth population in numerous African countries is growing, the continent promises to emerge as a major consumption market in the coming decades. More than 70 percent of Africa’s population is under the age of 35, and by 2030, 42 percent of the world’s young people are expected to reside on the continent. This data points to the potential the continent has to quickly industrialise, develop its economic scale, and innovate in order to compete on…

China’s evolving role in global affairs presents a narrative of progressive engagement, marked by a proactive stance on issues of trust, fairness, peace and stability. The country’s emergence as a significant player on the world stage is characterised not merely by economic prowess, but also by a growing commitment to mediating conflicts, fostering cooperation, and promoting mutual development. China’s burgeoning influence through various diplomatic initiatives and engagements has implications for the contemporary international order.  At the heart of China’s approach…

Ethiopia is a viable investment option for those in the tourism industry, according to the Ethiopian Investment Commission. This was reported by ENA. According to the commission, Ethiopia provides investment prospects in the development of specific locations as well as in the building of tourism infrastructure, such as hotels and resorts, conference centres, duty-free centres, cultural villages, and centres. According to the source, the nation boasts the largest number of UNESCO World Heritage sites in Africa, with nine to be…

During the Two Sessions of 2024, the emergence of an innovative vision for the economy was at the heart of the debates, with an emphasis on high-quality development. This approach is based on new quality productive forces and the rise of the digital economy.  Over time, technologies such as the Internet, big data, cloud computing, artificial intelligence (AI) and blockchain have been seamlessly integrated into all areas of economic and social development. On a global scale, the scientific and technological…