Monday, 23rd May 2022
<To guardian.ng
Search

Sub-Saharan Africa’s hard currency shortages weigh on businesses

The Economic Intelligence Unit says businesses in some of sub-Saharan Africa’s largest economies have been forced to close or reduce production over access to hard currency or working capital to keep their import-dependent operations afloat. Benedict Craven, Country Risk Manager at Economic Intelligence Unit joins CNBC Africa for more.

Related

10 Aug 2021
For more than six decades, the cocoa that Richard Ambassa Mbassiga harvested from his plantation in central Cameroon faithfully paid for everything his family needed. Irregular rainfall and prolonged dry seasons have since sucked the moisture from the soil, killed cocoa trees, and cut the yield from his farm.
12 Aug 2021
A growing number of entrepreneurs in Cameroon are using the label 'Made in Cameroon' for nationally-made products to encourage consumers to buy local and boost the import-dependent economy.
6 Sep 2021
In the mountains and jungles of southwestern Colombia, rural workers toil doggedly in the coca fields despite the dangers posed by guerrillas and drug traffickers -- and despite the government's anti-drug campaign.
18 Sep 2021
More than 90 percent of fishers and seafood processors from the world's deepest lake Tanganyika, lack refrigerators for storing fish stocks. With the FISH4ACP project, the UN food agency FAO, the EU, and the German government want to help unlock the economy of fishing communities in Tanzania and other countries.
9 Oct 2021
Beijing has taken aim at its high-tech, energy and property sectors in recent months, spooking investors who were used to decades of unprecedented growth. How much self-inflicted pain can China's economy endure?
25 Oct 2021
Here are a few reasons to pick up a copy of The Guardian on Tuesday. Find these stories and much more when you grab a copy of The Guardian on Tuesday.⁣⁣⁣
1 Nov 2021
Prime Minister Fumio Kishida's Liberal Demorats are expected to retain enough seats to keep power, but the new administration will need to get the economy back on track while navigating regional security challenges.
4 Nov 2021
Local traders and residents reacted to the Taliban ban of foreign currencies for trade, at the Sarai Shahzada market in Kabul on Wednesday after the Taliban made the announcement on Tuesday. The US dollar has been used widely in Afghanistan’s markets before the ban.
13 Nov 2021
Almost three months after the Taliban swept to power in Afghanistan, the country's economy is imploding. Many NGOs and foreign companies have left, leaving thousands of Afghans suddenly unemployed. Some $9.5 billion of assets have been frozen abroad and banks are running out of money. The value of the local currency is plummeting and food prices have soared. This dire situation is pushing thousands of Afghans to flee the country. FRANCE 24's Catherine Norris-Trent and Roméo Langlois report.
1 Dec
China's post-COVID recovery has been hurt by Beijing's crackdown on real estate and tech giants. Strong exports have, until now, saved the economy but what happens when global demand for Chinese goods slows?
2 Dec
Turkey's Finance Minister, Lutfi Elvan, has resigned amid another plunge in the value of the country's currency, the lira. He is being replaced by his deputy, Nureddin Nebati, who supports President Recep Tayyip Erdogan's controversial economic policies. The lira has lost almost half of its value this year as Erdogan has pushed for low interest rates, despite rising inflation. Also today, we look at how some French parents are choosing to rent toys for their children, instead of buying new ones.
11 Dec
The general global trend towards protectionism has been boosted by the pandemic, as countries try to buy more locally. That's a serious threat to jobs in Germany.