African Business News

Belarus Seeks Trade Partners In Form Of Zimbabwe And Burkina Faso

According to the National Statistics Committee (Belstat), the trade turnover between Belarus and Egypt, the key partner country on the African continent, increased by 140.6% and amounted to $ 41.6 million during the period. Egypt is on the rather extensive list of African countries, where the supply of Belarusian products is increasing. In January-May 2017, it grew by 3.4 times ($ 26.4 million), Your Country’s Tomorrow writes.

The export from Belarus to Angola increased by 54 times (up to $ 31 million), to Zimbabwe – by 57 times($ 12.8 million), to Cameroon – by 16 times ($ 3.3 million),

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Highest currency in Africa 2017 - Top 10

The value of any currency depends on the state of the country’s economy and on purchasing power of the currency on the international market. The strength of most African currencies is based on their value in comparison with the United States Dollar. This is because the US Dollar is the currency used worldwide to trade on the international market. Most African countries do not have strong and stable currencies. This is because most of the countries in Africa have a precarious economy and political instability.

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Establish brands to boost garment export, expert urges

USAID West Africa Trade and Investment Hub Consultant Mr. Musa Rubin has urged garment exporters to establish brands to boost their trade.

He spoke at a workshop organised by the Trade Hub and Nigerian Export Promotion Council (NEPC) in Lagos.

Rubin discussed the diversity of the United States (US) market, where over 50 million people spend an average of $1,000 per person on garments yearly.

“As Nigeria is closer to the U.S. than Asia, it offers a particular geographic advantage. We don’t have to go through the Suez Canal or around Africa; it is just a straight shot,” Rubin said.

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Industrialisation key to boosting Zambia’s trade

ZAMBIA has been challenged to ‘up its game’ to tap into the South African market if it is to fully benefit from trading with that country.

The challenge by South Africa’s High Commissioner to Zambia, Sikose Mji, comes in the wake of the continued trade imbalance between the two countries in favour of South Africa.

Zambia Development Agency estimates that in 2015 Zambia only exported goods worth US$534 million while South Africa exported goods worth US$2.6 billion.

The Central Statistical Office monthly bulletin also indicates that in May, Zambia’s exports to South Africa, which is the fifth main export destination, accounted for 5.5 percent of the total export earnings. The major export products were Bullion semi-manufactured forms, accounting for 23.3 percent.

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