Africa needs $285 billion by 2025 to try to get its head above water. It comes as the continent s economies struggle after been hit hard by the coronavirus pandemic.
Among the avenues discussed at the recently concluded Paris summit on financing the continent s economies was the special drawing rights initiated by the International Monetary Fund (IMF) 52 years ago.
This banknote printing facility, used sparingly, gives member countries the possibility of drawing liquidity to supplement their financial reserves.
But this alternative is subject to the notion of quotas, which take into account the economic strength of each region of the world.
The principle aims to limit the rate of indebtedness but it is seen by many as far from satisfying Africa s expectations. $33 billion are estimated for the continent, but leaders say a minimum of $100 billion is required.
In Benin, entrepreneurship in the fashion and textile sector is booming. This renewed interest is believed to be the outcome of the support of the political authorities and the population for the consumption of local products in recent years.
With this in mind, the designer Elvira AKPLOGAN decided to create her brand, LOAN-H. The aim she says is to bring a modern touch to Kanvo, the woven fabric of Benin . People have now understood that the woven fabric is a sought-after material, an exploitable material and we are working to make our woven fabric, the Loan-h woven fabric, more flexible, more manageable and easy to use in everyday life Akpologan said.
Giving a modern touch to Benin s Kanvo woven fabric msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.