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Inflation, geopolitics harm Africa’s regional trade — but hope is on the horizon
But institutions confident economic upswing is in the offing
17 June 2024 - 06:39
Inflationary pressures and geopolitical tensions took a bite out of Africa’s regional trade momentum between 2022 and 2023. But institutions, including the African Export-Import Bank (Afreximbank) and the African Continental Free Trade Area (AfCFTA) secretariat, are confident intra-Africa trade will swing back up as risks subside.
AfCFTA secretary-general Wamkele Mene told Business Times at the Afreximbank annual meeting in the Bahamas this week that inflation had a chilling effect on businesses’ appetite for capital, which weighed down business activity in Africa...
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