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Business May 31, 2026

Morocco Tops Africa's Industrialisation Index for First Time

Morocco has ranked first in Africa's industrialisation index for the first time, overtaking South A…
Morocco Leads Africa's Industrialisation Morocco has ranked first in Africa's industrialisation index for the first time, overtaking South Africa, which had held the top position since 2010, according to a new report by the African Development Bank (AfDB). The Event Details The bank's 2025 Africa Industrialisation Index ranked Morocco at 0.8415 points, narrowly ahead of South Africa's 0.8396 points, reflecting what the AfDB described as sustained industrial upgrading, export diversification and the effective implementation of strategic industrial policies. The Data Analysis South Africa remains one of the continent's leading industrial economies, the report said, but has experienced a gradual long-term decline in industrial competitiveness. Its score fell from 0.8819 points in 2010 to 0.8396 points in 2024. Morocco: 0.8415 points South Africa: 0.8396 points Egypt: 0.7827 points Tunisia: 0.7760 points The Impact Analysis The index measures industrialisation across three main dimensions: industrial performance; direct drivers such as investment, infrastructure, education and access to finance; and indirect factors, including the business environment, the rule of law, public debt and inflation. The Prediction The report linked weak industrial growth in Africa to fragmented markets and limited regional integration. The African Continental Free Trade Area (AfCFTA) could become a major driver of regional industrialisation if the continent shifts from 'integration for trade' to 'integration for production' by linking infrastructure, industrial policy, investment and regional value chains.
#Morocco #African Development Bank #Industrialisation
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Economy May 19, 2026

Yvette Cooper Calls for Immediate Release of Fertiliser Shipments to Avert Global Food Crisis

UK Foreign Secretary Yvette Cooper warned that the closure of the Strait of Hormuz by Iran is choki…
UK Foreign Secretary Yvette Cooper warned that unless fertiliser shipments blocked by Iran’s closure of the Strait of Hormuz are freed within weeks, the world could face a severe food crisis as planting seasons slip and prices soar. Iran’s Closure of the Strait of Hormuz Threatens Global Harvests The ongoing war involving Iran has frozen fertiliser flows through the strategic strait, already harming farms in the UK, Europe and the United States and hitting the developing world hardest, where farmers cannot absorb higher input costs. Scale of the Potential Food Insecurity Spike 45 million more people could fall into acute food insecurity if the conflict persists past mid‑year, according to the World Food Programme. UK overseas aid has fallen to 0.3 % of GNI, down from 0.5 % under the previous government. Climate finance for developing nations has been cut to £2 bn per year for the next three years. At the Global Partnerships conference, the UK will announce £4.6 bn for climate investment in emerging markets, $250 m for the African Development Bank, and a £200 m boost for science and technology. Implications for Food Prices, Aid Policies, and National Security The fertiliser shortage is driving up global food prices, compounding inflationary pressures on households. Reduced aid budgets in the UK and the dismantling of the US USAID agency risk deepening instability, while UK intelligence warns that ecosystem collapse in vulnerable regions could threaten national security. What the Next Six Months Could Hold for Global Food Stability Cooper called for coordinated diplomatic pressure to reopen the strait, accelerate private‑sector partnerships, and restore aid levels. If governments act quickly, fertiliser supplies could be restored before the critical planting window, limiting the projected surge in hunger. Failure to do so may lock in higher food prices and expand acute food insecurity well beyond 2026.
#Yvette Cooper #Iran #Fertiliser Supply
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Tech May 10, 2026

Cape Verde’s Tech Push Aims to Turn Brain Drain into a Digital Gold Rush

Cape Verde is betting on a state‑led digital economy strategy to stem one of the world’s highest em…
Digital Economy Ministry Sets the Stage for a West African Tech HubPedro Fernandes Lopes, Cape Verde’s secretary of state for the digital economy, unveiled an ambitious plan to transform the nation into a beacon for the free movement of human and financial capital across the African diaspora. Inspired by Estonia’s digitisation success, the strategy centres on a new technology park, expanded broadband infrastructure and a suite of e‑government services for the country’s 529,000 residents and its diaspora, which is estimated to be three to four times larger. Key Numbers Behind the AmbitionInternet penetration now at 75%, double the African average.Goal: digital sector to contribute 25% of GDP by 2030.TechParkCV investment: £44.78 million, largely financed by an African Development Bank loan.Approximately 24 companies have already signed up to the park’s tax‑incentivised special economic zone.Web Summit will be hosted in Cape Verde in December, marking the event’s first African appearance. Why This Could Reverse the Brain‑Drain TrendCape Verde has one of the highest emigration rates relative to population. By offering high‑speed connectivity, robotics and coding education in schools, and a vibrant startup ecosystem, the government hopes to give locals and diaspora members a compelling reason to stay or return. As Lopes notes, the same Atlantic routes once used for the slave trade now carry undersea cables, symbolising a shift from exploitation to empowerment. Future Outlook: Scaling the Model Across Portuguese‑Speaking AfricaIf the pilot succeeds, the digital‑governance services already deployed for Cape Verde’s citizens could be exported to other Lusophone African nations, creating a regional network of e‑services and tech hubs. The combination of a youthful, tech‑savvy diaspora, government backing, and international visibility via events like the Web Summit positions Cape Verde to become a template for the Global South’s digital transformation.
#Cape Verde #Pedro Fernandes Lopes #TechParkCV
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