Streaming issues? Report here
gugs-mhlungu-weekend-breakfast-show-thumbnailpng gugs-mhlungu-weekend-breakfast-show-thumbnailpng
Weekend Breakfast with Gugs Mhlungu
06:00 - 10:00
volume_up
volume_mute

Up Next: Soulful Sundays with Kenny Maistry
See full line-up
Weekend Breakfast with Gugs Mhlungu
06:00 - 10:00

Risk Management and Regional Trade in Africa

* 8 June 2023 11:45 AM
Tags:
RMB Holdings
Africa free trade area
Africa Focus

By properly addressing risks and promoting regional trade, Africa can strive towards sustained economic growth and development.

The RMB Africa Focus series, brought to you by RMB, a leading African corporate and investment bank, returns for a second season that aims to showcase investment opportunities and growth areas on the African continent.

Currency fluctuations impact the entire African continent. With trade still largely being conducted in currencies of the major economic powers - like the US dollar - there are many countries that are facing liquidity constraints.

Overcoming these constraints and the need for currency flexibility have been prominent issues for economies on the continent.

Listen to the full RMB Africa Focus with Crystal Orderson below:

Kenya has been gradually implementing currency adjustments, while Egypt has experienced significant devaluations since 2022. Nigeria, Africa's largest economy, aims to unify its exchange rate to address multiple exchange rates and backlogs.

Currency flexibility was a key demand by the International Monetary Fund, you know, in order for the country to access loans.

Crystal Orderson

Regional trade integration plays a crucial role in promoting economic cooperation within Africa. ECOWAS, established in 1975, consists of 15 member states with a combined population of around 350 million. The region showcases a notable level of integration, allowing traders to conduct business across borders. Nigeria,Ivory Coast, Burkina Faso, Mali, and Ghana are key contributors to ECOWAS tradedue to their exports of commodities such as cocoa, rubber, and gold.

And I think what's interesting, East Africa, they are focusing on developing certain sectors like pharmaceuticals also automotive parts, serving the regional market.

Crystal Orderson

SADC, founded in 1992, comprises 16 member states with a similar population size. Intra-regional trade within SADC accounts for a significant portion of its total trade, with a focus on sectors like pharmaceuticals and automotive parts to cater to the regional market. SADC has implemented initiatives, including an electronic certificate of origin, to simplify customs procedures and reduce trade costs.

_Africa Focus presented by Crystal Orderson is brought to you by RMB. To find out more about RMB’s focus on Africa’s Investment opportunities, visit the official RMB website._




* 8 June 2023 11:45 AM
Tags:
RMB Holdings
Africa free trade area
Africa Focus

More from RMB Africa Focus with Crystal Orderson on 702