• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

AfCFTA can help Africa reduce climate change risks – IMF

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
2 min read
0 0
0
196
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

AfCFTA can help Africa reduce climate change risks – IMF

The International Monetary Fund (IMF) has said that the African Continental Free Trade Area (AfCFTA) initiative can help African countries reduce climate change risks. The IMF stated this in its departmental paper on the continent, titled: “Trade Integration in Africa: Unleashing the Continent’s Potential in a Changing World”. The departmental paper was released on May 5.

Reviewing climate change effects

According to the IMF, rising average temperatures are expected to lower gross domestic product (GDP) growth and exacerbate food insecurity in Africa. Also, the rising frequency of natural disasters associated with climate change would also be expected to disrupt economic activity at an increasing frequency on the continent.

It is expected that extreme weather events could disrupt global supply chains, create shortages, damage infrastructure, and drive-up prices. Climate change could also affect transportation costs in the future due to carbon pricing or the use of more costly fuels. In addition, geopolitical fragmentation is likely to raise the frequency of shocks to individual bilateral trade relationships directly and indirectly.

Solutions abound within Africa

The IMF paper, however, stated that despite these challenges, regional trade integration in Africa can be an important element of a climate adaptation strategy in any of the following ways:

RelatedPosts

Prof. Bokpin Faults Ghana’s Budget Framework for Rewarding SOE Underperformance

Ghana Becomes Dangote Refinery’s Latest Crude Source as Refinery Hits 70% Capacity

GHS 395 Billion Asset Value of SOEs Formed 33.5% of Ghana’s GDP in 2024

  • Regional trade integration could boost countries’ resilience by reducing their overreliance on sectors that are at increased risk of being adversely affected by climate change-related natural disasters.
  • By facilitating the flow of goods across borders, regional trade integration would help countries diversify sources of climate-vulnerable products.
  • Regional trade integration could open opportunities for increased regional trade related to climate-related infrastructure, services, and finance.
  • Increased global competition for commodities and critical minerals may allow some African economies to deepen their pre-existing integration into global value chains as upstream suppliers of raw materials.
  • The AfCFTA presents African countries with an opportunity to diversify their export destinations, import sources and patterns of cross-border value chain integration by boosting regional trade.
  • Under the AfCFTA, most African economies would see a decline in the concentration of their export destinations, with generally larger declines for countries that currently have a relatively high export concentration. A greater diversity of export destinations would in turn increase economic resilience.

Africa’s Future in Numbers

According to the IMF, a large and growing labour force creates opportunities for more rapid growth, complemented by a falling dependency ratio that creates room for more domestic savings.

The Fund provided some numbers that could work to the advantage of African countries in the fight against climate change and its emergence as a leader in the global energy transition.

  • Africa’s working-age population (ages 15–64) is projected to rise from about 800 million in 2022 to more than 1.5 billion by 2050 (and peak only later this century).
  • The median dependency ratio (the number of the young and the elderly relative to the size of the working-age population) is expected to decline from 0.77 currently to 0.60 by 2050.

Source: nairametrics
Via: norvanreports
Tags: AfCFTA can help Africa reduce climate change risks - IMFIMF
No Result
View All Result

Highlights

JVCs Post GHS1.51bn Profit, Assets Rise 39.9% in 2024 – SIGA Report

Gulf Countries Respond to U.S. Trade Pressure With Trillion Dollar Plans

Wall Street Forecasts Oil in the $50s Next Year

Ghana 5th in Africa for IMF Outstanding Debt in August 2025

Joe Jackson Warns BoG’s 10% NPL Target Could Squeeze SME Lending

SOEs Record 28.3% Revenue Growth But Post GHS 9.67bn Net Loss in 2024 – SIGA Report 

Trending

Features

Prof. Bokpin Faults Ghana’s Budget Framework for Rewarding SOE Underperformance

September 1, 2025

Prof. Bokpin Faults Ghana’s Budget Framework for Rewarding SOE Underperformance Professor of Finance and Economics at the...

Ghana Becomes Dangote Refinery’s Latest Crude Source as Refinery Hits 70% Capacity

September 1, 2025

GHS 395 Billion Asset Value of SOEs Formed 33.5% of Ghana’s GDP in 2024

September 1, 2025

JVCs Post GHS1.51bn Profit, Assets Rise 39.9% in 2024 – SIGA Report

September 1, 2025

Gulf Countries Respond to U.S. Trade Pressure With Trillion Dollar Plans

September 1, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.