The global economy started cooling off in 2022 and it is expected that we might end up in a recession in 2023. However, there is nothing new about recessions and the cyclical manner in which the world economy operates over the years. What we are currently experiencing has been experienced before and governments, businesses and...
Key issues and concerns remained at the end of the previous trade negotiation round. Developing countries felt that more needed to be done to strengthen the multilateral trading system. The prevailing system then for example, permitted developed countries to impose temporary trade restrictions to protect local industries and hence negotiations on safeguards were to continue....
Carbon pricing should be a key component of any climate mitigation strategy designed to assist countries in reaching net zero emissions by 2050. Humans depend majorly on fossil fuels to drive their economies and that’s why we need an immediate way to encourage the shift to clean energy by imposing tangible economic pressure. Policymakers considering...
The African Continental Free Trade Area (AfCFTA) envisions a continental market of about 1.3 billion people with a combined GDP of over $3.4 trillion. In the 12th extra ordinary meeting of the African Union held on July 2019 in Niamey, the operational phase of AfCFTA was launched. What characterized the launch was the adoption of...
Greenhouse gas (GHG) emissions pose several potential economic and environmental risks to property, human health, agricultural productivity, and the ecosystem. Carbon pricing transfers the cost of the damage caused by GHG emissions back to those responsible. Instead of dictating who should reduce emissions where and how, a carbon price sends an economic signal to emitters,...
Africa’s economy is highly dependent on the international markets for both exports and imports. COVID-19 pandemic highlighted the continent’s extreme vulnerability to disruptions of international supply chains; as 53% of its imports originated from nations that were heavily impacted by the pandemic. With over 60% of the nation’s being importers of essential goods, global trade...
The Kennedy Round of Negotiations The sixth round of negotiations under GATT was called the Kennedy round named after former United States President John Kennedy; and took place between 1963 to 1967 in Geneva. 62 countries participated in this round, including seven members of the other European trade bloc, the European Free Trade Association. This...
Kenya actively participates in international trade to expand its market and have access to products that it lacks domestically. In 2021, the country’s total export was estimated at USD 6.739 billion with horticulture and tea among its leading export items valued at approximately USD 1.4 billion and USD 1.1billion, respectively. In that same year goods...
Africa’s infrastructure development remains severely deficient, with an estimated need for infrastructure investment of more than USD 100 billion. Like the region’s internet development since the early 2000s, the rest of the sectors particularly transportation infrastructure; must be well established to reap the enormous benefits of connectivity. A good internet connectivity ensures faster and more...
Once a product has reached its last mile of distribution, most companies will not invest their resources in tracking the performance of that product. Concerns of incomplete orders, product mismatch or delayed delivery time have to be taken up by customers themselves to the company’s customer care department. Yet in the event that any of...