The United States’ Biden administration gave a big fillip to the Africa Continental Free Trade Agreement (AfCFTA) this week. The US Trade Representative Katherine Tai revealed in an interview on Monday at the Semafor Africa Summit that her agency was working on signing a memorandum of understanding with the AfCFTA countries to expand the U.S.-Africa trade relationship.
The future of the African Growth and Opportunity Act (AGOA) will be one of the key talking points with African governments when they meet U.S. government officials at the White House’s US-Africa Leaders Summit next week with the 49 heads of state and other leaders. [The future of US-Africa trade is in the balance - Semafor]
The global trade value of the leather and leather products industry is estimated at USD 407.92 billion per year as of 2021. Also, leather goods are ranked among the 25 most traded commodities in the world, according to UNIDO. Yet Nigeria is not a key player in the production of hide-based leather even though it produces skins and hides more than 45 million pieces annually, according to industry reports. [Leather And Leather Products A Game Changer For Forex ...- eurasiareview.com]
The high unemployment rate among college graduates has seen some resort to menial jobs while others have turned their passion into a source of income. Newton Owino, who graduated in tanning chemistry, used his knowledge in a company that recycles waste, for example fish skin, to produce shoes and other things. [Kisumu graduate generating income by recycling waste - capitalfm.co.ke]
Côte d'Ivoire is francophone West Africa’s economic hub attracting fashion e-commerce and event entrepreneurs from across the sub-region. Global brands like Tommy Hilfiger and Mango have opened stores in the country’s commercial capital Abidjan as malls continue to be built. Local designers, multi-brand retailers and manufacturers have established ventures around which a unique business ecosystem is evolving. [The African Fashion Hub Punching Above Its Weight - BoF]
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