2021 saw the global economy rebound from the effects of the COVID-19 pandemic which impacted global trade by occasioning lock downs and restrictions aimed at curbing the spread of the virus. According to the World Bank’s Global Economic Prospects - 2022, the global economy is expected to rebound by 5.5% in 2021, supported by the increased vaccine inoculation, recovery of commodity prices and the accommodative monetary policies that most economies adopted in 2020. However, the World Bank projects the global economy to grow at a slower rate of 4.1% in 2022, with the key inhibitors being the rising global inflation due to high fuel and energy prices and persistent supply chain constraints, uneven vaccine distribution and inoculation, and the expected tightening of the accommodative monetary policies;