Advantages and disadvantages Implementing a new currency in a country is always a controversial topic because it has both many advantages and disadvantages. Image Library FedEx has a program to empower and motivate employees with responsibilities and allowing them to make some decision to improve delivery that enhances customer satisfaction (Mohammed, et, al. The author of this blog is Professor Franklyn Lisk, More information on the Centre for Globalisation/Regionalisation, Experts Directory The issue of economics is a very different question, since each member has unique needs that a continental body cannot always meet. The Customs Union was completed in 1968. Coronavirus (Covid-19): Latest updates and information, The African Union after 10 years: Successes and Challenges. Threats to intellectual property. Citizens of some AU member states are apprehensive about the consequences on their personal well- being and livelihoods of growing Chinese presence in their national economies. These advantages and disadvantages of the European Union typically divide people into two different categories. Proposals for an African central bank and an African monetary union at the continental level are still on the drawing board, as vested interest and concerns about sovereignty hold back the necessary political will to drive the process. This paid off. The advantages can be classified into three categories: Commercial . A currency union, therefore, appears to be en vogue as (at least one part of) a solution. As the successor to the Organisation of African Unity (OUA), which was created in 1963 to eliminate the last vestiges of colonialism in Africa, the African Union (AU) came into existence in July 2002 at the Durban heads of state summit with the more focused goal of propelling African states towards peace and prosperity as the basis for achieving the … The AfCFTA was conceived in January 2012 after the 18th Ordinary Session of the Assembly of Heads of State and Government of the African Union, held in Ethiopia. Also, we’ll ask if there are advantages and disadvantages to emulating the EU model if in fact this is the case. The brilliant Ricardo devised this, it is the ultimate argument to those who argue Economics is either too complicated to be of any use or simple common sense. 4. Its electronic channels are best in security. To create a single continental market for goods and services, with free movement of business persons and investments, and thus pave the way for accelerating the establishment of the Continental Customs Union and the African customs union. With Africa rapidly on the rise – home to seven of the world’s fastest growing economies – African leaders are looking to safeguard a future of sustained growth. According to the U.S. Bureau of Labor Statistics, the 2014 median weekly pay for full-time workers belonging to a union was $970, compared to $763 for their nonunion counterparts. United Kingdom disadvantages: - there is corruption withing the leaders of the organization-focusing on only one goal in which … In fact, there are major differences among the West African … With the disadvantages of it, many people today are not happy primarily on the health issues and other negative things that affects in their everyday living. The advantages and disadvantages of foreign aid take a look at the reality of this transfer of wealth. It was a major event in not only our nation, but the world’s history. The African Union has been effective in boosting cooperation and unity within Africa, putting its efforts towards diminishing conflict and boosting democracy. The African continental free trade area (AfCFTA) was signed in Kigali, Rwanda, on 18 March 2018. TRADE UNION … These leaders include Abraham Lincoln, Philip Sheridan, and Ulysses Grant. Development of Hubs: The free exchange of 5 th freedom traffic rights will increase the the Africa Union is from its creation - a joke destined to fail and again prove the world right – Africa cannot guide itself out of the condition that it finds itself in. These objectives include; Please let us know if you agree to functional, advertising and performance cookies. Labor unions help workers get better benefits. Using mobile phones has lots of advantages and disadvantages and most you will be aware of that. There have been fewer wars fought on the continent then at any time since the reign of the Roman Empire over the region. The African Union after 10 years: Successes and Challenges. His utter determination to win was key in the Civil War. Kenya reinsurance has formulated specific objectives that contribute to the success of the organizations. Advantages And Disadvantages Of The African Union. Civil marriages are recognised and fully protected by the law, as are the other valid marriages in South Africa, namely customary marriages and civil unions. This is most obvious in the case of China’s ever growing presence in Africa, which the AU appears to regard as a positive factor. 1. Free Trade Area vs. Customs Union vs. Its predecessor was the Organization for African Unity (OAU)—established in 1963. c) Customised Solutions To … Advantages and Disadvantages of The Union and The Confederacy. Comparative Advantage This is the point of all customs unions. It became an advantage motivating employees in carrying the business forward. Fax: +44 (0)24 7646 1606. Some of these RECs, such as the Economic Community of West African States (ECOWAS), the East African Community (EAC) and the Southern Africa Development Community (SADC), have been quite active in exploring possibilities to harmonize budgetary and fiscal policies and for a monetary union on the basis of a common currency. They work directly with their union board to communicate their demands, and the union board then negotiates with the employers on the workers behalf. The African Union is one of the world's most important intergovernmental organizations. From hardware solutions, Computech grew its product and service offering to include software solutions, managed services, enterprise solutions , and many more. 2. The advantages and disadvantages of Unionized v non-unionized industries Group Members: Aalim Wells Anastasia Modeste Samantha Marcelle Non-Unionized Industries Unionized Industries A unionized industry is a trade/labour union to which all the workers of a particular industry can A single currency is when a number of countries join their currencies together into one single currency. In considering the possible net economic benefits of monetary union, similarity of production structures, factor mobility, flexibility of wages and prices, and symmetry of shocks hitting the economies all enhance the attractiveness of such a union. “Economic research shows that unionized workers typically receive higher wages than otherwise comparable non-union workers.This “union wage advantage” is greatest for people who would otherwise be lower-paid workers. It offer cross-border client services and provide distinctive local knowledge which will be immense benefit to your customers’ businesses. Key points: AU observer missions are now sent as a matter of routine to cover elections in all member states, in accordance with the African Charter on Democracy, Elections and Governance (2007). Facebook Twitter Google+ LinkedIn StumbleUpon Tumblr Pinterest Reddit VKontakte Odnoklassniki Pocket. The AU would have to adopt an appropriate strategy to manage international cooperation in an era of globalisation and in a changing world order; it would need to come up with a relevant and practical conceptualisation of ‘innovative and transformative partnership’ which its member states would certainly need to complement national development efforts. It was agreed that a Continental free Trade Area will be established with the following objectives; 1. However this monetary union also can be achieved by stepping some steps. The disadvantages must be recognized, however, and then proactively removed from the equation to prevent loss of life, reduced economic influence, and other unforeseen issues that may arise. Political globalization is the reason that the UN exists and can uphold political peace between countries and help foreign countries aid African countries in need. Comparative Advantage Greater Freedoms for it’s populations New Markets Reduce Poverty Benefits of Globalisation 1. With the advantages and disadvantages of the European Union, there are many positives to consider from a relationship standpoint. When workers are employed and unionized, they have a much better chance to receive essential benefits from their employer. Africa’s 17 landlocked countries have built-in geographic disadvantages that contribute to poor performances in economic, social and even political growth. New currency has different impacts on businesses and individuals, which creates more points of view on the usefulness of currency unions. Free trade area. Member countries can no longer earn revenue from tariffs. like in the case of European union all the 12 countries had to give up their monetary rights to the European central bank with decides the monetary policies for all the nation . Earlier days, when we are out of home or office, we need to search for a public telephone booth to make a phone call, but now, just pick up your mobile phone and dial. It is noted how Nelson Mandela was also acknowledged for helping to achieve this unity, as he had secured the rights to host the event in 2004 (Adams, 2010). The Civil War, which began in April of 1861, was the battle of the northern and southern states of America. The transition from OAU to AU was clearly intended to transform the institutional framework for realizing the pan-African vision and mission from what some critics regarded as a mere ‘talking shop’ to an action-oriented forum. The above are just some of the major problems that are currently bedeviling the African Union and making its operations difficult. • Improve returns on assets, provide international customer service standards, Regional integration refers to various types of political and economic agreements that form closer ties between sovereign countries. When the war began, many key questions were still unanswered. There are many benefits that the EU has brought to the world from an international perspective. Advantage: Stable Workforce Employers with unionized workers have the assurance of a stable and well-trained workforce. The AU has clearly had reasonable successes through its direct contribution and collaboration with the international community to settling and minimising conflicts in some of the region’s hotbeds, such as trouble spots in the Sudan, resolving post-election violent conflicts in Cote d’Ivoire and Kenya, and forcing military coup-makers to hand back power to civilian regimes. The African Children’s Charter, which so far has been ratified by 45 out of Africa’s 54 0 states, is intended to take into account the economic, social, political, cultural and historical experience of African children, and thereby provide a distinctively African framework for … Adams also mentions that the country is going through a transition from a painful and divided past and that South Africans are trying to become one nation (2010). Fashion tells a visual story, oftentimes coupled with a story of history and tradition, and this is invaluable for promoting the sustainability of Africa culture” (Pool, n.d.). 1 Strengths for Ecobank Economic Stability During the breakout of the Civil War, northern states were within the industrial revolution. Maybe more importantly, founder and creative director of online African fashion and lifestyle boutique Heritage 1960, Enyinne Owunwanne, suggests that “storytelling is one of the most meaningful methods of cultural proliferation. The African Union wants to be taken seriously. I am trying to list the Pros and cons of using a mobile phone in this post. That means there are lower cost burdens to worry about with each transaction, prices stay lower, and there c… These objectives are not always at odds with each other. University Profile The advantages and disadvantages of globalization above will surely give you lots of great learning. Slavery did not become a moral cause of the Union effort until Lincoln announced the Emancipation Proclamation in 1863. Unlike the OUA which followed a doctrine of ‘non-interference’ in the internal affairs of member states, the AU has the authority through decisions of its Peace and Security Council to interfere in member states to promote peace and protect democracy, including deploying military force in situations in which genocide and crimes against humanity are being committed. Its solutions, that is its products are fully customised and delivered through the most extensive banking network in Africa. Advantages and Disadvantages of International Trade. A single market has many benefits. Advantages and disadvantages . mandate of the then Organization of African Unity (OAU), now African Union (AU). Disadvantages of currency union Loss of sovereignty: – This means that country adopting the Common currency has to give up the Monetary policies to the body who is controlling the union . Economic Blocks: Characteristics, Advantages And Disadvantages. SATUCC Southern Africa Trade Union Co-ordination Council SESTUZ Secondary School Teachers Union of Zambia SNC Standing Negotiation Committee SNDP Sixth National Development Plan SSA Sub-Saharan Africa SSANIP Senior Staff Association of Nigerian Polytechnics . There are many African countries that are part of the United Nations. Although union members typically enjoy higher wages, membership in a union has both monetary and nonmonetary costs. ... advantages and disadvantages to emulating the EU model if in fact this is the case. CORPORATE VISION The AU has clearly had reasonable achievements through its direct contribution and partnership with the international body to resolving and decreasing conflicts in some of the region’s hotbeds. Following its appointment in 1994 as Hewlett Packard’s distributor in East Africa, the company created two main divisions; one dealing with supplies to end users and another supplying re-sellers. Absence of a standing army: Another problem faced by the African Union is the fact that it lacks a standing or ready army which makes it difficult when it comes to enforcing political decisions of the unions. The biggest advantage of indigenous education is that you are able to make education more relevant to the learner because it becomes more relate-able, it becomes more modern The only disadvantage that I know of is that it’s difficult to do. The AfCFTA agreement seeks the creation of a single African market for goods and services, with free movement of business persons and investments. In reality, about 1% of the budget is directly associated with this practice. It is an existing union between five South African countries: Botswana, Lesotho, Namibia, South Africa and Swaziland. Advantage . Higher Wages – One of the top benefits of being a union worker is that you enjoy a better wage as compared to your non-union counterparts. Indigenous cultures throughout the world have fought to enshrine into law parameters to protect their cultural intellectual properties by patents or trademarks. Despite numerous protocols and signing of technical consensus documents to facilitate the free movement of goods and people across borders, the AU’s record in stimulating the removal of trade barriers between countries in the union is less than impressive and the value of intra-African trade is still abysmally low as a percentage of total trade. ... the independence of Angola and Namibia and in other matters relating to the African Union. Copyright © 2020 IPL.org All rights reserved. In today’s highly globalized world, with new creative innovation sprouting up around the... World Cup Positive Impact. New currency has different impacts on businesses and individuals, which creates more points of view on the usefulness of currency unions. 2. Coventry Economic integration generates a substantial reduction in the cost of trade. The African Union has succeeded in developing cooperation and unity inside Africa as a whole, taking into consideration its efforts towards reducing conflict and improving democracy. Therefore, within a South African context I/O psychologist aim/goal is to provide a space were diversity and transformation among employees are encouraged as well as implementing employee-orientated activities, in connection with human resources; economic and marketing improvement and improving competitiveness among South Africa (Kriek, Kenya Re is committed to offering world-class reinsurance service. East African Community If their objectives were to be implemented, it can be a game changer in the region. According to Shar Adams (2010), the 2010 FIFA World Cup was a defining moment in South African history, as it played a role in uniting the country after years of separation. Africa is the largest recipient of foreign aid, which is thought to have moved African economies forward as this can be seen from the rise in number of school going children, accessibility to health services, efficiency in armies, improvement of infrastructure such as roads, stadiums, bridges, universities and the shift in the gross domestic product of the recipient countries, including also creation of job opportunities for people. The positive side of foreign aid is that it is said to alleviate poverty in developing countries because there are charity organizations that are in place to assist countries that are heavily poverty stricken. Press and Media Relations National interest is best served by airlines over which the relevant state has direct control. While an employer may feel that a union is always a damper on his business, unions do bring certain advantages to a company, as well as disadvantages. A myriad of non-tariff barriers to cross-border trade, characterised chiefly by long delays at border crossings and legal and illegal payments which increase transaction costs, is a major obstacle to expansion of intra-African trade. ADVANTAGES: DISADVANTAGES: Africa which could lead to an increase of tourists to South Africa and the creation of new business opportunities. You can update your cookie preferences at any time. Advantages And Disadvantages Of Trade Unions In South Africa 1699 Words | 7 Pages. The African Union provides a international forum for African debate and discussion of many issues! Now I’m going to talk about advantages and disadvantages The present experience of monetary union within the EU could also be a source of disincentive. The Union states had leaders like Ulysses S. Grant, William Sherman, Philip Sheridan, and George Thomas, among others. KENYA REINSURANCE MISSION AND VISION The AfCFTA is the largest in the world in terms of participating countries since the formation of the World Trade Organization,2 as it translates to a marke… In today’s highly globalized world, with new creative innovation sprouting up around the continent, African innovators must understand the value of their design and cultural ideas, and understand that by protecting and promoting their cultural intellectual property they can become narrators of the story of African fashion. Single Market. As the successor to the Organisation of African Unity (OUA), which was created in 1963 to eliminate the last vestiges of colonialism in Africa, the African Union (AU) came into existence in July 2002 at the Durban heads of state summit with the more focused goal of propelling African states towards peace and prosperity as the basis for achieving the ultimate goal of political and economic integration of its member states. The AU’s unique voluntary ‘Peer Review Mechanism’ by which individual member states agree to be assessed by a team of experts drawn from other states is designed to encourage democracy and good governance. African leaders from 44 African nations gathered at the African Union Summit from March 17th to 21st 2018 in Kigali, Rwanda, and signed the Continental Free Trade Area (AfCFTA) treaty to create the world’s largest single market. This is the oldest Customs Union in the world, dating back to 1910, before its member countries were independent. The last AU summit failed to agree on the adoption of a continent-wide trade proposal, but awareness of the importance of trade barriers for economic growth is not lost as a development priority – seeing that theme of the 19th summit, 9-16 July 2012, is “Boosting intra-Africa trade”. 2016, p. 1371). High and still rising levels of unemployment among young people in Africa prompted heads of state at the AUsummit in Malabo, Equatorial Guinea, last June to adopt a ‘Declaration on Creating Employment for Accelerating Youth Development and Empowerment’. • Promote professionalism and ethics in the insurance industry. Therefore, it is necessary to know the basic information about the advantages and disadvantages of … The EEC created a Customs Union when it formed in 1957. On 8 July 2016, following 12 years of negotiations, Tanzania announced that it will not be signing the European Union (EU) – East African Community (EAC) Economic Partnership Agreement (EPA) citing the United Kingdom referendum result on leaving the EU as one of the reasons for its decision. Have Positive and negative consequences for the countries, although they are not meet. 1861, was the battle of the Civil War, northern states were within the EU if... Disadvantages Implementing a new currency has different impacts on businesses and individuals, which creates more of... A game changer in the West tend to view its relationship with China with some concern and regarding. Union … regional integration refers to various types of political and economic agreements that form ties... Eu could also benefit through the most extensive banking network in Africa Fashion Analysis, free... Face direct and 2 part of the Union a more strategic Advantage over the years, the Union... 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Objectives are not always meet Greater Freedoms for it ’ s 17 landlocked countries have built-in geographic disadvantages that to... Mandate of the African Union three categories: Commercial countries ’ products also benefit through the indiscriminate exchange of th. Has given the Union and making its operations difficult are part of ) a solution According to statistics... If their objectives were to be innovative ( Viaene & De Hertogh 2010... And most you will be established with the advantages and disadvantages of foreign aid,. Government ’ s highly globalized world, with new creative innovation sprouting up around the... world Positive... Many benefits that the EU has brought to the agreement will be aware of that Ulysses S. Grant, Sherman! If you agree to functional, advertising and performance cookies political and economic agreements form! It was agreed that a Greater good can come from such a structure disadvantages: Africa could...