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Africa Business Weekly
4 january 2008

the week's top 20 stories

 

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20/12/04 - Young Entrerpeneur has success
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pan-African news

Comment: Do not let Kenya’s tragedy wreck Africa’s prospects

The resurgence of investor confidence in the continent has lived alongside grim realities that are too easily ignored, writes William Wallis. ft.com

Violence reminds investors of Africa’s risks

International investors caught up in a wave of recent optimism about Africa have been served a reminder of the perils of the continent by post-election bloodshed in Kenya. ft.com

regional and country news

Kenya challenger in ‘blinking contest’

Raila Odinga’s management of the tension between his influence over thousands of seething supporters and the urgent need for a political settlement in will have a crucial bearing on the Kenya’s future. ft.com

Comment: The crisis in Kenya leaves a guilty stain on the west

As western leaders scramble to prevent Kenya’s descent into chaos they should find time to consider their own failure to respond to a crisis that has been long in the making. ft.com

Violence halts Kenyan share deals

Kenya's stock exchange halts trade and the shilling falls back against the dollar as violence continues. bbc.co.uk

Bush Signs Bill Allowing Sudan Divestment

The legislation is aimed at pressuring Sudan to end the violence in the Darfur region. nytimes.com

Zuma allies allege Mbeki plot

Allies of Jacob Zuma, the newly elected leader of South Africa’s African National Congress, accused Thabo Mbeki, the country’s president, of being behind his indictment for corruption, adding to concerns about the split within the ruling party. ft.com

Migrants target booming Algeria

While many young Algerians want to leave the country, sub-Saharan Africans want to take advantage of the new oil wealth. bbc.co.uk

Nigeria: The good, the bad and the president

A doughty fighter of corruption is sent away for re-education. economist.com

Zimbabwe reverses banknote expiry

Zimbabwe’s central bank on Monday reversed its decision to phase out a Z$200,000 banknote and pumped in Z$33,000bn into markets to try ease a severe cash shortage that has left thousands of shoppers stranded. ft.com

Rice raises rights concerns as Libya hails ties

Libya's foreign minister declared an end to confrontation with the United States on Thursday in a rare visit to Washington by a top Libyan diplomat aimed at cementing ties between the former foes. africa.reuters.com

Cape Verde: Good Student, Reluctant 'Example'

Cape Verde Foreign Minister Víctor Barbosa Borges dismisses out of hand the label placed by various international institutions on this small Atlantic archipelago, which are calling it an example for the rest of Africa. Inter Press Service / http://allafrica.com

South Africa: Foreigners Spend Less on Markets

Foreign capital inflows slowed last year, highlighting SA's exposure to swings in the mood of global investors. This could hinder the country's steady build-up of foreign exchange reserves and make its current account deficit more difficult to finance. Business Day / http://allafrica.com

company news

One laptop project loses partner

Intel withdraws from a project that aimed to put cheap laptops in the hands of children in developing nations. bbc.co.uk

Algeria: Microsoft to Tackle Piracy

In a surprise visit to Algiers in December 2007, Mr. Simon Brown the vice president of Microsoft has affirmed that his company intends to curb the programs piracy phenomenon in Algeria. Highway Africa News Agency / http://allafrica.com

Nigeria: U.S. Bank Set to Invest in African Airlines

Following the domestication of the Cape Town convention by African countries, Ex-Im Bank of America is set to invest about US$1.25 billion (N157.5b) to African airlines to help them purchase new and modern aircraft. Leadership / http://allafrica.com

Zambia awards Kuwait's IPG 1.4 mln tonnes oil deal

Zambia has awarded a $1.2 billion two-year oil supply contract to Kuwait's International Petroleum Group (IPG), a senior energy official said on Saturday. africa.reuters.com

Liberia's Supreme Court Recognizes New Firestone Workers' Union Leadership

The Liberian Minister of Labor, Samuel Kofi Woods, has urged both the workers and management of the Firestone Rubber Plantation Company to continue to work together to ensure industrial peace and harmony on the plantation. http://business-humanrights.org

South Africa: Eskom to Accelerate Plants Upgrades

Eskom is to accelerate the implementation of its capacity programmes and will invest R150 billion over the next five years in upgrading the country's power supply infrastructure. BuaNews / http://allafrica.com

Ghana: Celtel Finally Takes Over Westel

Celtel has finally taken over Ghanaian telecoms network, Westel, following the conclusion of agreements with the government of Ghana, which sold the company to the pan African mobile operator several weeks ago.  Concord Times / http://allafrica.com

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