Central African Nations Vow to Reduce Imports to Spur Job Creation: CentralAfrica
The leaders from Cameroon, the Central African Republic, Chad, Equatorial Guinea, Gabon, and the Republic of Congo say the ongoing economic slowdown is stifling development, increasing food and fuel prices, and making living conditions unbearable for a majority the region's 55 million people.
Ondo said Central African states will produce goods and grow food locally to boost their economies following a severe recession triggered in 2015 when the international price of oil dipped below $50, forcing many oil exporting countries to scale back production.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Central African Nations Moving to Rescue Flagging EconomiesMinisters from Central African nations - Cameroon, Central African Republic, Chad, Congo Republic - Brazzaville, DR Republic of Congo, Equatorial Guinea, Gabon, São Tomé & Principe and Angola - are meeting today, March 17, 2023 to look at new investment opportunities to shake up their respective economies. In 2022, the Central African ministers agreed to merge two regional blocs in a move to boost trade and growth. The 11-member Economic Community of Central African States (ECCAS) joined with the six-member Economic and Monetary Community of Central Africa (CEMAC). The deal aimed to eliminate rivalry that has helped to make central Africa the poorest region among Africa's economic groups. Central Africa's lull in economic growth has largely been caused by natural disasters, armed conflicts, and the fallout from Russia's invasion of Ukraine. The central African region is also looking for investments in the energy sector.
Read more »
National shutdown: Ntshavheni says Malema's no violence vow 'can't be trusted'The EFF leader has vowed the planned mass action will not turn violent, and assured there would be law enforcement in attendance - but Minister in the Presidency Khumbudzo Ntshavheni is not convinced.
Read more »
Six Nations permutations: Ireland near fourth Grand SlamThis year's Six Nations Championship comes to a climax this weekend with Ireland and France still able to clinch the title.
Read more »
TikTok's Chinese ownership, security concerns spark bans across nationsThe Biden administration has demanded that TikTok's Chinese owners divest their stakes in the popular video app or face a possible US ban, the company told Reuters this week.
Read more »