For this request, I have decided to start my contribution by providing some facts and figures on the “global oil.” At the end, a concise recommendation is given. One has to firstly understand the foundation or basics on oil production, exportation, consumption, and concomitant economies of the key countries in the oil business. What is...
A number of African countries, including Kenya, Egypt, Zimbabwe, Nigeria, Ghana and Zambia, are currently experiencing shortages of US dollars. The dollar is the dominant currency in international transactions. These countries rely on the US currency to pay for foreign debts, essential goods and industrial inputs. Development economist Christopher Adam explains what causes US dollar shortages...
The post-COVID-19 pandemic and Russia’s invasion of Ukraine led to disruption of the global oil market that has spread rampant hiking of food prices and other human’s basic needs across the world. Countries worldwide are now grappling to contain commodity rapid prices soaring by adopting measures to control fuel rises that spread havoc to every...
Ubungo MP and the former Minister of Industries and Trade, Prof. Kitila Mkumbo, called for an immediate intervention by the government on a rampant surge of commodities that hugely inflict the citizens. Speaking at the parliament today, April 8, 2022, Prof Mkumbo hailed the government’s explanation on the surge in oil prices, subsequently calling for...