🔅 AGOA Trade Benefits: A Mixed Bag
Plus: A Century of Conservation: Nature at the Expense of People, Sudan's Conflict Rages On, Nigeria is One Step Closer to Protecting its Citizens from Malaria, And much more... ☕
Photo of the day: Yaoundé, Cameroon.
Markets:
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Global Markets: China's Economy Booms Again | China’s economy is bouncing back like an NBA player on the hardwood after taking a coronavirus-induced dive last year. GDP rose 4.5% compared to the same period last year, retail sales increased by 10.6%, and air passenger trips tripled compared to the same time last year. This all happened after the Chinese government lifted its restrictions and pledged to boost the economy. Investors are pumped for the figures, but some think the growth rate will level out soon.
*Data accurate as of the close of markets across the continent
ECONOMY
AGOA Trade Benefits: A Mixed Bag for African Countries
The US International Trade Commission (USITC) has released a report on the African Growth and Opportunity Act (AGOA) that shows mixed results for the African continent.
It found that AGOA has helped reduce poverty and create jobs in certain countries, particularly for women, as well as a big success in the apparel sector in countries like Kenya, Lesotho, Madagascar, and Ethiopia.
But the report also noted that it hasn't been as successful for other sectors like cotton farming, cocoa production, and chemicals.
In addition, it found that only five of the countries made up over three-quarters of duty-free non-petroleum exports to the US from 2014-2021: South Africa, Kenya, Lesotho, Madagascar, and Ethiopia.
The report concluded that AGOA has not achieved all that it had hoped and more work needs to be done to improve the economic relationships between the US and Sub-Saharan African countries.
US Representative Richard Neal, the top Democrat on the Ways and Means Committee, echoed this sentiment, saying “While certain sectors and countries have benefited from the program, AGOA has not achieved all that we had hoped, and more work must be done to improve our economic relationships.”
The US Congress will use the research to debate and decide whether to renew or restructure AGOA, which expires on Sept. 30… 2025.
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OTHER HEADLINES
Across the Continent
🍃 A Century of Conservation: Nature at the Expense of People | So, you thought conservation was all rainbows and butterflies? Think again. This article breaks down how the conservation movement in Africa (and beyond) has a long, sordid history of using nature as an excuse to displace Indigenous peoples from their ancestral homes. It started in the early 20th century, when King Albert I of Belgium was inspired by the national parks in the US and created his own in the Belgian Congo. This sparked a century of conservation projects that involved the eviction of Indigenous people, violent persecution, and a “global apparatus” that still poses an existential threat to Indigenous peoples. It’s the result of a romanticized view of nature and a disconnect from the natural world brought on by industrialization—not to mention the imperialist ideology of “protecting” land by keeping people away from it. This, coupled with the desire to expand industrialization and capitalism, has resulted in a legacy of violence that has yet to be addressed.
Sudan's Ceasefire: A Day of Hopeful Silence (But Not Really) | Sudan's rival generals declared a 24-hour cease-fire yesterday to start at 6 p.m., but no one was buying it. As the clock struck 6, the sound of explosions and gunfire continued in Khartoum, the country’s capital. Civilians were still hiding in their homes, and the death toll from the fighting was estimated to be far higher than the 185 reported by the UN. In the past couple of days, a US Embassy convoy has been attacked and the home of the EU envoy to Sudan stormed, adding to the chaos. You can read about the background of the conflict in our edition from last week:
🇳🇬 A Malaria Vaccine for Nigeria? | Nigeria just got one step closer to protecting its citizens from malaria—the country has granted provisional approval for Oxford University’s R21 malaria vaccine. Ghana made the same move last week. Normally, vaccines need to go through final-stage trials before they’re approved, but Nigeria’s National Agency for Food and Drug Administration and Control has decided to move forward anyway. Malaria is a huge issue in Nigeria—it’s the world’s worst-affected country, with 27% of global cases and 32% of global deaths, according to a 2021 World Health Organization report. Mid-stage data from the R21 trial showed the vaccine was 70-80% effective at 12 months following the fourth dose.
FOOD FOR THOUGHT
Proverb of the Day
“A bird does not change its feathers because the weather is bad.”
— Kenyan Proverb.