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Africa Business Weekly
2 march 2007

the week's top 20 stories

 

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pan-African news

Africa: World Bank On Africa's Economy

Africa's economic performance since the mid 1990s is a mixture of remarkable progress, stagnation and where some countries have even seriously lagged behind, the World Bank disclosed in its African Development Indicators 2006 (ADI 2006) publication. The Reporter / http://allafrica.com

Africa: UK Retailers Urged to Buy More From Continent

Supermarkets in the UK have been urged to import more - not less - food from Africa. The Nation / http://allafrica.com

Africa: U.S.-Africa Trade Act Seen As Key to African Economic Success

Landmark legislation enacted seven years ago to enhance trade between the United States and Africa still holds the key to continued African growth and development, says Assistant U.S. Trade Representative (USTR) Florizelle Liser. United States Department of Trade / http://allafrica.com

China gets foreign oil incentives

Nine more countries offer China incentives to invest in oil and gas projects as it steps up its hunt for new supplies. bbc.co.uk

Fairtrade Fortnight

The theme is Change Today, Choose Fairtrade. With over 2500 Fairtrade certified products now available, it’s easier than ever to change what you eat drink and wear to Fairtrade, and make a positive change today for the lives of millions and farmers in developing countries. Take part in this Fairtrade Fortnight 26 Feb - 11 March 2007. fairtrade.org

regional and country news

South Africa: Manuel's surplus hailed by business

Business has dismissed views that South Africa's more than R10-billion surplus unveiled in Finance Minister Trevor Manuel's Budget a week ago reflected the state's reluctance to spend, saying it was rather outstanding fiscal management. iafrica.com

SA must play the 'China game'

South African companies should be looking for markets where China is a customer and avoiding areas where China could be a potential competitor, says former Anglo American Gold Division chairperson and CEO Clem Sunter. iafrica.com

Uganda: Coffee Faces Global Warming Threat

Uganda’s coffee industry, a key pillar of the economy, could be entirely wiped out in the next few decades if the local temperatures rise by just two degrees centigrade, according to one of the country's top climate scientists. The Monitor / http://allafrica.com

Qaddafi Heralds a Changing Libya, but Within Limits

Col. Muammar el-Qaddafi had just spent two hours on Friday arguing that Libya’s form of government was the truest democracy, when the call went out to a small group of foreign correspondents for questions. This correspondent asked how democracy was compatible with a system that puts so much power in one man’s hands. The New York Times

Peace plan for Ivory Coast agreed

President Laurent Gbagbo of Ivory Coast signs an agreement with rebels aimed at reuniting the country. bbc.co.uk

Nigeria to end bulk of $500m debt

Nigeria agrees a deal to clear most of its $500m debt to the London Club for a "clean start". bbc.co.uk

Wade named as Senegal poll winner

Senegalese President Abdoulaye Wade has won re-election for a second term, poll officials say. bbc.co.uk

Southern Africa: SADC Members On Right Track to Attain FTA By 2008

Southern African Development Community (SADC) countries are said to be on the right track in the implementation of the SADC protocol on trade to attain a free trade Area in 2008. BuaNews / http://allafrica.com

Uganda: China-Uganda Trade Deficit Hits $120m

The trade imbalance between Uganda and China has reached $120m (about sh210.6b), the Chinese ambassador, Fan Guijin, has revealed. New Vision / http://allafrica.com

company news

SABMiller brews up a partnership with African farmers

The brewing giant SABMiller is increasing its investment in Uganda by $7.5m (£3.8m) following the success of its alliance with thousands of micro-farmers who previously survived by subsistence farming. The Independent

Drug Partnership Introduces Cheap Antimalaria Pill

The medicine is the first product of an innovative collaboration between a drug company and a medical charity. The New York Times

Ethiopia: Starbucks Takes Step Towards Recognizing Country's Right to Coffee Names

International agency Oxfam responded to a joint statement from coffee company Starbucks and the Government of Ethiopia in which Starbucks pledged not to oppose Ethiopian efforts to trademark its coffee names, Sidamo and Harar a press release Oxfam sent to the Herald Thursday said. While it is a good first step, Oxfam said Starbucks needed to go further and guarantee concrete support for the Ethiopian project designed to benefit poor producers. The Ethiopian Herald / http://allafrica.com

Senegal: Mittal Steel Signs Agreement

Arcelor Mittal, the world's largest and most global steel company, today announces that it has signed various Agreements with the State of Senegal in West Africa to develop iron ore mining in the Faleme region of South East Senegal. The Inquirer / http://allafrica.com

Nigeria: Intel, Microsoft, Zinox Partner On PC Price

In a landmark partnership geared at massively reducing the price of personal computers, Microsoft Inc, Intel Corporation, and Zinox have formed an alliance geared at bringing the price of acquiring Pcs below N50,000.00. This Day / http://allafrica.com

Uganda: Barclays Concludes Nile Bank Takeover

Barclays Bank has finally concluded the acquisition of Nile Bank with the integration process of the two institutions expected to be completed by the end of the year. New Vision / http://allafrica.com



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