US Credit crunch unlikely to affect Africa - the Economist
Thursday, December 13, 2007
This is because economies in the sub-Saharan region are not directly integrated into the larger economy of the world.
The report, titled Heading For The Rocks: Will Financial Turmoil Sink The World Economy?, puts African economies at a much more immune stage compared to the economies of Europe, Asia and Latin America which are more closely linked to international financial markets.
The Francistown Umbrella Informal Sector chairperson, David Mbulawa, has highlighted this growing concern, revealing that many local traders are using their licences to facilitate the entry of foreign goods into the market at a fee.Fronting undermines the very fabric of our local economy. It allows foreign traders to exploit the system designed to benefit Batswana, using local licences to cross borders and sell goods at prices intended for local...