Following the unveiling of the African Continental Free Trade Agreement in Kigali, Rwanda, in March 2018, Africa is about to become the world’s largest free trade area: 55 countries merging into a single market of 1.2 billion people with a combined GDP of $2.5 trillion.
Iran's exports to the African states in the six months from March 21-September 22 amounted to $397 million which indicates a 17-percent growth compared to the figure for the same period last year, said the director general of Trade Promotion Organization's office for Arab-African Affairs.
Chinese President Xi Jinping offered another $60 billion in financing for Africa on Monday and wrote off some debt for poorer African nations, while warning against funds going toward ‘vanity projects’.
The best time to invest in Africa is now. However, foreign investors have not moved into the continent as quickly as expected because foreign investment decisions are often methodically over-structured. One of the major factors cited is too much risk. But risks and profits are inseparable twins: high-risk ventures are frequently associated with higher profits.
As US sanctions against Iran loom large, the country is looking for potential solutions to maintain trade with other countries with a top official in Tehran now proposing to barter oil products for gold with Africa.
Throughout the 20th century, the widely accepted story of humanity's migration from Africa began with a human ancestor called Homo erectus, a relatively big-brained, tall species of hominin that began to venture all across Asia more than a million years ago. But in recent decades, new evidence has begun to punch holes in that timeline. Now, reports Carl Zimmer at The New York Times, new stone tools unearthed in China indicate someone made it 8,000 miles from Africa to east Asia as far back as 2.12 million years ago, and that someone probably wasn't Homo erectus.
Iranian Foreign Minister Mohammad Javad Zarif praised Africa’s internationally-acknowledged progress in recent years, saying the African Union’s logical stances on the world and regional developments reveals its rich political understanding.