Ethiopia has recently secured strategic access to the Red Sea's coasts through a groundbreaking agreement with Somaliland. Leasing a 20-kilometer stretch of coastline, this move is pivotal for Ethiopia, allowing diversification beyond Djibouti. Currently reliant on a single corridor for 95% of its imports and exports, this development raises crucial questions about its potential impact on global maritime trade.
Ethiopia-Somaliland deal: A pivotal move for sea access and regional relations (Business Africa)
Afolake Oyinloye , host of Business Africa
To shed light on the implications of Ethiopia's recent maritime agreement, we were joined by Ali Hojeij, a legal and economic expert. Delving deeper into the topic, Hojeij provided insights into the potential ramifications and strategic significance of Ethiopia's expanded sea access.
FCFA Currency Adoption in Nigeria and Ghana:
Despite constituting 60% of the Economic Community of West African States' GDP, Nigeria and Ghana have embraced the FCFA currency. This adoption is attributed to the ease of conversion and the relative stability of its value. Explore the reasons behind the controversial FCFA gaining popularity in these anglophone nations and its impact on the regional economy.
South Africa's Tourism Resurgence:
In 2023, South Africa celebrated a remarkable tourism resurgence, welcoming nearly 8 million international visitors. With aspirations to surpass pre-COVID figures by March 2024, the success of South Africa's tourism industry relies on a diverse influx of African tourists, collaboration with top source countries, and maintaining a harmonious relationship between wildlife conservation and economic growth. Discover the key factors contributing to South Africa's triumph in the tourism sector.