Daily Afrika News
Advertisement
  • Home
  • News
    • South Africa
    • World
    • Africa
    • Entertainment
    • Green
    • Health
  • Elections 2019
  • Voices
    • Columnists
    • Books
  • Business
    • Markets
    • Personal Finance
    • Economy
    • Opinion
    • Small Business
    • FinWeek
  • Sport
    • News
    • Rugby
    • Cricket
    • Soccer
    • Golf
    • Tennis
    • Formula1
    • Other Sport
    • Super Sport
  • Lifestyle
    • Health
    • Women
    • Motoring
    • Food
    • Entertainment
    • Parent
    • TrueLove
    • Travel
  • Video
    • All Video
    • South Africa
    • Entertainment
  • Focus
    • Underworld Unmasked
    • Mandela100
    • Cyril100
    • Zimbabwe
    • Aids Focus
    • Good News
    • Competitions
  • Jobs
  • Property
No Result
View All Result
Dailyafrika.com
  • Home
  • News
    • South Africa
    • World
    • Africa
    • Entertainment
    • Green
    • Health
  • Elections 2019
  • Voices
    • Columnists
    • Books
  • Business
    • Markets
    • Personal Finance
    • Economy
    • Opinion
    • Small Business
    • FinWeek
  • Sport
    • News
    • Rugby
    • Cricket
    • Soccer
    • Golf
    • Tennis
    • Formula1
    • Other Sport
    • Super Sport
  • Lifestyle
    • Health
    • Women
    • Motoring
    • Food
    • Entertainment
    • Parent
    • TrueLove
    • Travel
  • Video
    • All Video
    • South Africa
    • Entertainment
  • Focus
    • Underworld Unmasked
    • Mandela100
    • Cyril100
    • Zimbabwe
    • Aids Focus
    • Good News
    • Competitions
  • Jobs
  • Property
No Result
View All Result
Dailyafrika.com
No Result
View All Result
 
Home News Africa

Global trade: Africa takes centre stage with Kenya, Côte d’Ivoire

Despite its slim portion on global trade, Africa's influence growing on world stage

Global trade: Africa takes centre stage with Kenya, Côte d’Ivoire

Côte d'Ivoire and Kenya are the rising stars of global trade. Credit : World Bank

by Issa Sikiti da Silva, Senior Reporter September 30, 2019
Related Articles
DafriBank Saves The Day on Twitter
DafriGroup Plc Announced Its Digital Banking Ambition; DafriBank, A su
For African politicians, looting and hiding wealth in the west is not
Malema: Ramaphosa was the force behind Mmusi Maimane’s downfall

Despite Western perceptions pinpointing Africa as a hopeless continent, different studies and reports emanating from various quarters now seem to be telling a different story. A story of hope, hard work and robust economic growth. Once again, the continent gets another rare accolade in a sector dominated by major economic powerhouses.

A report released this week by Standard Chartered ranking Côte d’Ivoire as the top market that has rapidly improved its trade growth potential over the past decade, will certainly set tongues wagging. Even in places where Afro-pessimists thrive and badmouth the continent’s political leaders for enriching themselves, while the majority of the population lives with less than $1.25 per day.

Kenya, which is consolidating its position as the trading hub of East Africa is ranked three, while Ghana also performs well in the index, placing just outside the top 10.

The Standard Chartered Trade20 Index determines each market’s trade growth potential by analysing changes within the last decade across a wide range of variables.

The study, which examines 66 markets around the world, finds that while existing trade powers like China and India continue to rapidly improve their trade potential, African economies are making particularly strong progress from a relatively low starting point.

Changing landscape

Africa’s portion in the world trade is slim, representing only between two to three percent of global trade volume. And intra-Africa trade is also insignificant, accounting for less than 15% of total exports and contrasting sharply with South America (22%) and Western Europe (70%).

However, the growing prominence of developing countries is a salient feature of the shifting global trade landscape, and over the past two decades, the share of these countries in global merchandise exports has increased from around 30% to 50%, the International Centre for Trade and Sustainable Development said in its analysis of 10 March 2016.

The article was published in a Bridges Africa series.

“Although this shift is mainly driven by Asian economies, the contribution of African countries has increased from six percent in 2000 to 9% in 2013. This implies that, while traditional developed countries remain important markets, developing countries also provide enhanced trading opportunities,” the ICTSD added.

Readiness

The Standard Chartered Trade20 index found that Côte d’Ivoire and Kenya have significantly improved their trade readiness, demonstrating that investments in infrastructure and business environment improvements are paying off.

The study is grouped into three equally-weighted pillars: economic dynamism, trade readiness and export diversity. Côte d’Ivoire and Ghana fared well for economic dynamism, with Côte d’Ivoire enjoying robust Gross Domestic Product and export growth, and Ghana seeing an influx of foreign direct investment.

This is a remarkable feat for Côte d’Ivoire, which is still recovering from more than a decade of armed conflict, and the 2010/2011 election violence that claimed more than 3 000 lives.

Saif Malik, Standard Chartered global banking regional co-head for Africa and Middle East, said: “Home to some of the world’s fastest-growing economies, Africa has the potential to become a much bigger player on the global trade stage.

“Already connected with the trading powers in Asia, particularly China, through the Belt & Road Initiative, and with the launch of the African Continental Free Trade Area, we see numerous growth opportunities for trade and investment in the years ahead.

“Additionally, the growing young, digitally-savvy population and an increasing female workforce will aid in the continent’s economic transformation.”

AFRICACote d'IvoireGlobal tradeKenyaStandard CharteredTrade20
Previous Post

Fake doctor nabbed in Kenya after performing 8 successful surgeries

Next Post

Uganda announce Johnny McKinstry as new national team coach

Issa Sikiti da Silva, Senior Reporter

Issa Sikiti da Silva, Senior Reporter

Issa Sikiti da Silva is award winning journalist with a career that spans over 20 years. Da Silva was honored with SADC Media Awards Best reporter (print category) in 2010. He has worked for various media outlets, local and international, including the like of Reuters, City Press, Sunday World, Daily Sun, Drum Magazine amongst others while traveling extensively across Africa. His work has been published both in French and English. He was a senior news writer Bizcommunity

Related Posts

DafriBank Saves The Day on Twitter

DafriBank Saves The Day on Twitter
Africa
by C'indy Bossmann, contributor
10 February, 2021

JOHANNESBURG - M.G Mpho Moteka couldn't have imagined what good fortune awaited him when he lamented his ill-luck on popular...

DafriGroup Plc Announced Its Digital Banking Ambition; DafriBank, A su

DafriGroup Plc Announced Its Digital Banking Ambition; DafriBank, A sustainable platform for all digital problems.
Africa
by C'indy Bossmann, contributor
12 July, 2020

JOHANNESBURG -  With entrepreneurs and businesses bleeding technology the DafriGroup stirred up mixture of tech and resource to present to...

For African politicians, looting and hiding wealth in the west is not

African leaders stashing stolen money in the west
Africa
by Suvajit Banerjee
30 October, 2019

For most African kleptocrats, the west has been a safe haven for stashing the wealth that they looted from their...

Malema: Ramaphosa was the force behind Mmusi Maimane’s downfall

Malema: Ramaphosa was the force behind Mmusi Maimane's downfall -not Hellen Zille
Africa
by Takemore Chikwesa
29 October, 2019

JOHANNESBURG- The EFF head-honcho Julius Malema has claimed that President Cyril Ramaphosa was the real force behind Mmusi Maimane's downfall,...

Mozambique’s president Nyusi wins presidential polls with 74%, o

Mozambique's president Nyusi wins presidential polls with 74%, opposition rejects results
Africa
by Takemore Chikwesa
28 October, 2019

MAPUTO-Filipe Nyusi was reelected by the populace who gifted their ink crosses on October 15. President Nyusi won with 73%...

Yaya Toure says FIFA ‘don’t care’ about racism in fo

YAYA TOURE
Africa
by Hinamundi Collins
28 October, 2019

Yaya Toure says FIFA is not doing enough to stamp out racism and that England should have walked off the...

Next Post
Uganda announce Johnny McKinstry as new national team coach

Uganda announce Johnny McKinstry as new national team coach

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Quick news

DafriBank Saves The Day on Twitter...

DafriBank Saves The Day on Twitter

The Word’s First Coronavirus Vaccine Is Here...

The Word’s First Coronavirus Vaccine Is Here

DafriGroup Plc Announced Its Digital Banking Ambition; DafriBank, A su...

DafriGroup Plc Announced Its Digital Banking Ambition; DafriBank, A sustainable platform for all digital problems.

Sports giant PUMA unleashes the Spark Pack in 2020...

Sports giant PUMA unleashes the Spark Pack in 2020

Most Popular

DafriBank Saves The Day on Twitter...

DafriBank Saves The Day on Twitter

The Word’s First Coronavirus Vaccine Is Here...

The Word’s First Coronavirus Vaccine Is Here

DafriGroup Plc Announced Its Digital Banking Ambition; DafriBank, A su...

DafriGroup Plc Announced Its Digital Banking Ambition; DafriBank, A sustainable platform for all digital problems.

Sports giant PUMA unleashes the Spark Pack in 2020...

Sports giant PUMA unleashes the Spark Pack in 2020
https://www.valr.com/invite/VAG38ZL3
  • About
    • Contact us
    • Privacy Policy
    • About Us
  • Useful Links
    • Markets
    • Personal Finance
    • Economy
    • Opinion
    • Small Business
    • Fin Week
  • Sister Brands
    • FX Magazine
    • MLM Magazine
    • Crypto Magazine
    • PlusSize Africa
    • Women With Class
    • DJ Mag Africa
  • Affluent Series
    • Affluent
    • Affluent Africa
    • Affluent TV
    • Affluent Radio
    • Affluent Sport

Published by UMEH Media All right reserved.

News, analysis, opinions, sports, question and discussion – as a people and as a continent – with the rest of the world, especially the Western world, in ways cultural, economic, political, social, psychological or historical. Daily Afrika is managed by an African crew, with a network of mostly African writers across the continent and in the diaspora. Developed By: DeDevelopers
  • Home
  • News
    • South Africa
    • World
    • Africa
    • Entertainment
    • Green
    • Health
  • Elections 2019
  • Voices
    • Columnists
    • Books
  • Business
    • Markets
    • Personal Finance
    • Economy
    • Opinion
    • Small Business
    • FinWeek
  • Sport
    • News
    • Rugby
    • Cricket
    • Soccer
    • Golf
    • Tennis
    • Formula1
    • Other Sport
    • Super Sport
  • Lifestyle
    • Health
    • Women
    • Motoring
    • Food
    • Entertainment
    • Parent
    • TrueLove
    • Travel
  • Video
    • All Video
    • South Africa
    • Entertainment
  • Focus
    • Underworld Unmasked
    • Mandela100
    • Cyril100
    • Zimbabwe
    • Aids Focus
    • Good News
    • Competitions
  • Jobs
  • Property