EMerging Equity
Africa
Africa: The Welfare Conundrum
By Anzetse Were As African economies continue to grow and become richer than they have been in modern history, the question of government providing social security or welfare nets for the especially poor and marginalised becomes important. Poverty levels are still dire on the continent; the number of Africans living in extreme poverty, defined as … Continue reading
Nigerian Presidency: 300 Firms, Individuals Indicted For Embezzling $620Mln
An estimated 300 firms and figures, including active duty and retired officers, have been indicted in Nigeria on suspicion of corruption in the amount of nearly $620 million, the Nigerian presidency said in a statement. President Muhammadu Buhari won the March 2015 general elections on a pledge to weed out corruption, improve living standards in Nigeria and defeat the … Continue reading
Nigeria’s State Oil Firm Accused Of Withholding $25B From Government
The Nigerian National Petroleum Corporation (NNPC) owes the Nigerian government $25 billion in back payments on revenue generated from the sale of crude oil, according to the country’s fiscal watchdog agency. Ibrahim Mohammed, a spokesman for Nigeria’s Revenue Mobilization, Allocation and Fiscal Commission (RMAFC), released a statement Monday saying the NNPC’s unremitted liability was from … Continue reading
How Important Are Services To Economic Growth In Kenya?
By Anzetse Were A report by the Overseas Development Institute (ODI) analyses four services sectors in Kenya to determine the role of services in economic growth. The four sectors analysed are the financial sector, IT services, transport services and tourism services. The report argues that services are becoming increasingly important, even for non-industrialised countries such … Continue reading
China Wants to Import More Oil From Nigeria
By Jill Malandrino Despite instability in crude oil prices, global production at record highs and Iran coming back on line to produce more oil than analysts expected, China wants to import more crude oil from Nigeria. In an interview with the Nigerian News Agency, Zao LingXiang, economic and commercial counselor of the Chinese Embassy in Nigeria, … Continue reading
The Kenyan Economy Continues To Exhibit Key Weaknesses That Must Be Addressed
By Anzetse Were On Tuesday last week the World Bank launched the Kenya Country Economic Memorandum with the theme ‘From Growth to Jobs & Prosperity’. Apurva Sanghi Lead Economist and Program Leader at the Bank made three core points during his presentation. The first is that economic growth in Kenya is volatile, non-inclusive and marked … Continue reading
How Africa Can Benefit From China’s Slowdown And Reorientation
By Anzetse Were An analyst with the Brookings Institution made an important point during a podcast recently; China will shed 85 million jobs at the bottom end of the manufacturing sector between now and 2030. So naturally the question becomes: where will they go? The analyst made the point that at the moment most of … Continue reading
The Importance Of Africa’s Informal Economy
By Anzetse Were It is well known that in Africa there exist two types of economies: the formal and the informal. Often the general assumption is that the formal economy is the more important of the two, and often it is the formal sector which gains attention in terms of policy formulation, development strategies and … Continue reading
The Implications Of The Digital Revolution For Africa
By Anzetse Were Last week the World Bank released their World Development Report (WDR) that focused on the digital revolution and how it has allowed some to reap digital dividends. These dividends are growth for businesses, job creation for people and better service delivery by government. Further digital technologies have supported development by promoting innovation, … Continue reading
The Problem With The Supplementary Budget In Kenya
By Anzetse Were Earlier this month the government drafted a supplementary budget that indicated changes in budget allocations. The general direction of the change was in cutting expenditure significantly. Development expenditure will be cut by over KES 70 billion, recurrent expenditure by KES 23 billion, local borrowing by KES 53.2 billion and tax revenue by … Continue reading
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