The concept of a freeport – an area where normal tax and customs rules don’t apply – has existed for centuries. Over time, different terms have emerged. They include export processing zones, free trade zones, special economic zones and industrial free zones. West Africa has 29 free zones, spanning 11 countries. Examples in west Africa […]
The markets will overreact to the headlines
As the saying goes, “There are lies, damn lies and statistics.” And on the first Friday of every month, the American public gets a ton of new statistics to peruse. That’s when the U.S. Bureau of Labor Statistics releases its latest jobs figures. Within minutes of the data drop, news organizations send out push alerts, […]
Should family members be in charge of family businesses? We analyzed 175 studies to understand when having a family CEO pays off
From Hermes to Smuckers to the fictional Waystar Royco of HBO’s “Succession,” family businesses often choose their CEOs from the ranks of kin. But is this a good business decision? As researchers who study entrepreneurship and management, we wanted to know whether keeping leadership in the family pays off for businesses. So we reviewed 175 […]
Macky Sall’s reputation is dented, but the former president did a lot at home and abroad
Macky Sall’s legacy as Senegal’s president since 2012 became more complex in his last year in office. The year was so filled with transgressions that they appeared to have tarnished his reputation indelibly. For some months he gave the impression to his adversaries and critics that he had third-term ambitions – not uncommon in contemporary […]
Ghana’s decades-old ambition to build an integrated aluminium industry faces a new hurdle: the clean energy transition
It has been more than 60 years since Ghana’s first post-independence leader Kwame Nkrumah first mooted the idea that Ghana should produce aluminium from the country’s ample supply of bauxite. Under the Volta River Project, Nkrumah’s vision was to construct a dam on Ghana’s Volta River to provide dedicated electricity to a newly built smelter. […]
Inflation in Nigeria is still climbing while it has slowed globally: here’s why
Just as Nigerians were gradually digging out from the devastating effects of the COVID-19 pandemic, they were hit by high inflation. The Nigerian economy contracted by 6.1% at the peak of COVID in the second quarter of 2020. Unemployment rate rose from 27% in the second quarter of 2020 to 33% in the fourth quarter […]
Street vending helps migrants to survive in Accra, but it’s illegal – a solution for all is needed
Moving to the city is a common strategy for the rural poor in the global south. Economic hardship pushes individuals out of their rural communities in search of opportunities. These tend to be found in urban centres, where facilities and services are concentrated. The World Migration Report indicated that 740 million people were migrants in […]
LGBTQ+ workers want more than just pride flags in June
Every year, more and more companies seem to recognize Pride Month. But a recent analysis shows that LGBTQ+ workers expect more than this once-a-year acknowledgment from their employers. In fact, some employees actually criticize such behavior as mere pinkwashing. So, what do LGBTQ+ workers want? In 2023, the jobs website Indeed conducted a survey of […]
4 business lessons from the Boston Tea Party
December 2023 marks the 250th anniversary of the Boston Tea Party, one of the most famous events leading up to the Revolutionary War. On the night of Dec. 16, 1773, Colonists marched aboard three ships and threw more than 90,000 pounds of tea into Boston Harbor. No one died, and the only things injured were […]
Why the Fed should treat climate change’s $150B economic toll like other national crises it’s helped fight
Climate disasters are now costing the United States US$150 billion per year, and the economic harm is rising. The real estate market has been disrupted as home insurance rates skyrocket along with rising wildfire and flood risks in the warming climate. Food prices have gone up with disruptions in agriculture. Health care costs have increased […]