Africa export business

A collaborative report by the African Capacity Building Foundation and partners, published during BADEA's 50th anniversary, highlights significant trade challenges in Africa and proposes strategies to enhance export competitiveness across 30 countries. The report emphasizes the need for a robust enabling environment, demand sophistication, business dynamism, and improved export performance to tap into Africa's export potential. Meanwhile, the Confederation of Zimbabwe Industries reports a critical shortage of foreign currency in the interbank market, impacting businesses' ability to import essential goods. In response, the Reserve Bank of Zimbabwe announced a $50 million injection into the market to alleviate pressure. Additionally, African central banks, including Nigeria and South Sudan, are ramping up market interventions to defend their currencies amidst rising import inflation, with Nigeria reportedly spending $400 million since July. However, a broader movement towards de-dollarization faces challenges, as citizens express distrust in national currencies due to past economic mismanagement and inflationary pressures.