March 6, 2020Sub-Saharan Africa
The new coronavirus has led to a slowdown in economic activity in China and East Asia more broadly. The global price of oil has now fallen to $53 a barrel. This is beginning to affect the oil-exporting countries of Africa. According to Africa Confidential, three-quarters of Nigeria’s and Angola’s oil production ear-marked for export in April is unsold. Similar deficits are reported from Chad, Republic of Congo, and Gabon.
January 13, 2020Middle East and North Africa
The region is accustomed to cycles of protest and political upheaval, so it’s better not to bank on successful revolutions.
October 10, 2019Sub-Saharan Africa
Rich people are everywhere, and they can have something to say about the level of economic development in their home countries. Afrasia Bank and New World Wealth have just published the 2019 Africa Wealth Report, which includes North Africa and African island states in the Atlantic and Indian Oceans. It identifies the continent’s six wealthiest cities, defined as total individual private wealth—equities, real estate, businesses—less liabilities. They are Johannesburg, Cape Town, Cairo, Lagos, Durban, and Nairobi.
December 17, 2019South Africa
South Africa has long been a cornerstone of Iran’s South-South strategy, which aims to strengthen ties with African and South American states. Strongly promoted by President Ahmadinejad, the South-South strategy intends to boost Iranian international credibility and promote trade. The Islamic Republic was one of the first countries to resume trade with South Africa following the end of apartheid, and the two countries have enjoyed strong relations ever since.
February 12, 2020Coronavirus
In Africa, observers are acutely aware of how ill-prepared most countries are for responding to a major pandemic. With more than a billion people undergoing rapid urbanization, weak healthcare systems, and growing economic ties with China, Africa would appear to be highly vulnerable to the spread of the coronavirus.
January 9, 2020West Africa
In a follow up to his remarks in December, Mohamed Iban, Chambas, the UN special representative sand head of the UN Office for West Africa and the Sahel (UNOWAS) sounded the alarm on growing militant and jihadi violence. In his January 8 briefing to the UN Security Council, he said the “devastating surge” in terrorism has “shaken public confidence.” He focused on Burkina Faso, Mali, and Niger, where casualties from terrorism have increased fivefold since 2016, with 4,000 deaths in 2019 compared to 770 in 2016.
September 24, 2019Saudi Arabia
If the United States is done fighting for Saudi Arabia’s oil, it's done fighting for the entire region.