🎙How can African nations drive industrialization by investing in high-value sectors, developing regional value chains, and adopting flexible policies?
🎙South Africa's gross foreign exchange reserves hit a record high of $62.518 billion in December 2023, rising from $61.721 billion in the preceding month.
🎙Egypt's current account deficit narrowed by 12.1% to USD 2.8 billion in Q3 2023, down from USD 3.2 billion in the same period the previous year.
🎙The FAO Food Price Index fell to 118.5 in December 2023, the lowest since February 2021, from a downwardly revised 120.3 in November.
🎙ACWA Power signed a framework for a $4 Billion green hydrogen project in Egypt, producing 600,000 t/y of green ammonia, scaling to 2 Million t/y in a second phase.
🎙Red Sea transit insurance costs spike to 0.5% of ship hull value, up from 0.1-0.2%, as attacks prompt expanded risky zones.
