Africa: Travel, Tourism in Africa Could Boost Continent's Economy By $168 Billion- Report

November 6, 2023--The African sector is expected to grow 6.5 per cent per year over the next decade; travel & tourism could contribute $350 billion to the regional economy.
At its Global Summit in Kigali today, the World Travel & Tourism Council (WTTC), in collaboration with VFS Global, revealed that the African Travel & Tourism sector could add $168 billion to the continent's economy and create over 18 million new jobs.

According to the report, 'Unlocking Opportunities for Travel & Tourism Growth in Africa', this potential growth is dependent on three key policies to unlock annualised growth of 6.5 per cent, reaching a contribution of more than $350 billion.

South Africa: African Development Bank Country Focus Report highlights urgent need for economic transformation as GDP growth remains subdued

July 4, 2025-African Development Bank calls for strategic reforms to unlock South Africa's $3 trillion capital potential
South Africa's GDP growth declined to 0.6% in 2024 from 0.7% in 2023, underscoring the need for critical action and strategic reforms to unlock the country's vast capital resources and accelerate economic growth, the African Development Bank emphasized in its Country Focus report launched on Wednesday.

Africa's Trade Projected to Hit $1.5 Trillion in 2025

July 1, 2025--Trade is set to expand at an average of 5.1 per cent a year through 2026, before quickening to 5.4 per cent by 2028.

National stock exchange launched in Somalia

June 26, 2025-The National Securities Exchange of Somalia (NSES) held its formal launch on 19 June 2025, according to this report on Xinhua. A coalition of local investors and financial experts established the exchange and it will start by operating as a private, self-regulatory organization, according to a statement issued in Mogadishu. The Central Bank of Somalia has pledged full technical support with the aim of ensuring international best practices are followed.