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How $1.68 billion airlines’ trapped funds, high cost, infrastructure set aviation in Africa backward- IATA
Foreign airlines’ trapped funds in Africa hit a record $1.68 billion by the end of September 2023 according to the International Air Transport Association (IATA). The funds are held by countries experiencing foreign exchange reserves. The countries are Ghana, Nigeria, Ethiopia, Angola and Zimbabwe. IATA attributed trapped funds as one of the major issues plaguing aviation in Africa, describing the numbers as alarming with it having a huge and devastating impact on connectivity. IATA’s Regional…
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