The main and overwhelming factor in Nigeria is its oil which is its economic muscle. Oil production is not only boosting their economy tremendously but also has a global importance as well. Being the fourth largest supplier to United States means billions in revenue and a peacekeeper between those who need it. Nigeria is also the most populous African nation and their democratic processes are seen as benchmarks for others. They have a key resource that the whole world depends on plus their stability is vital for the growth of Africa and the other nations. They are the “poster boy” nation of Africa and who they elect is vastly important to control the oil correctly, keep peace, and further the nation in every way possible.
The African Development Bank will provide relief funds of about $1 billion to Tunisia this year. Tunisia has been rocked by political unrest since the resignation of former President Ben Ali. Ben Ali stepped down as leader of the North African country on Jan. 14 after weeks of protests over unemployment, high food prices and political repression. The funds will be used in hopes to provide budget support and finance programs that benefit people of Tunisia. The bank’s director said in a phone interview today from Tunis, the capital. “We are willing to support Tunisia through this process of transition through an engagement that could total $1 billion this year,” Kolster said. “We’re working at full-steam on a budget-support operation that could be submitted to our board for consideration by the end of June.”
Kolster went on to say “Economic and social governance is a domain that is very important to the new Tunisia and to the African Development Bank and it’s something we are working on with the interim government to improve on.”
Walk, run, but don’t drive next week. Fuel prices in the country of Tanzania are expected to reach an all time high in the next couple of weeks. The increasing Somali piracy activities are causing high prices and are expected to further push up pump prices. Prices are projected to exceed 100 us dollar mark per barrel.
South Africa’s Department of Trade & Industry started a program that will make available 5.6 billion rand ($815 million) in tax incentives to boost manufacturing industries and create jobs.
“The allowance is geared towards providing investment support in new manufacturing assets and training to employees involved in such projects,” the Pretoria-based ministry said in an e-mailed statement today. “It will target new projects as well as expansions or upgrades of existing projects in the manufacturing sector.”
Manufacturing industries to benefit from 900 million rand in incentives are metals and metals fabrication, chemicals and plastics, and agricultural and new “green” industries, as they have the highest potential, the ministry said.
The allowances are in line with Trade Minister Rob Davies’ calls to help manufacturing add value to South African products and reduce the nation’s 25.3 percent unemployment rate. The policy will favor companies that improve production equipment and upgrade workers’ skills, the ministry said.
I think this would be great because it would, help bring jobs to those that are in need, and also boost the economy in Africa.
