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Africa Business Weekly
8 february 2008

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archive

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

Africa cotton states urge EU to cut subsidies more

Three African cotton-producing countries called on the European Union on Thursday to do more to cut cotton subsidies as part of a new push for a global free trade deal, but Brussels said its hands were tied. africa.reuters.com

UK to spur research into climate impact on poor

Britain will increase research into the possible impacts of climate change on the world's most vulnerable people, including deeper poverty and conflict, the international development minister said. africa.reuters.com

Rich-poor "digital divide" still broad, says UNCTAD

The digital divide between rich and poor countries is narrowing as mobile phones and Internet use become more available, but the developing world still lags far behind, a United Nations report said on Wednesday. africa.reuters.com

World Bank sees change in China's African role

China took part for the first time recently in World Bank meetings on the needs of some of Africa's poorest countries in what the Bank sees as an important shift in Beijing's role. africa.reuters.com

China, India are Africa's "new colonialists" - Soros

Hungry for oil and minerals, India and China have become Africa's new colonialists, exploiting the world's poorest continent in the same way as its old European masters, billionaire financier George Soros said on Tuesday. africa.reuters.com

Continent Must Retain Skilled Professionals to Industrialise - Mbeki

South African President Thabo Mbeki on Thursday briefed African leaders on an action plan to retain Africa's skilled professions in the continents quest to increase its global competitiveness starting with its industrialisation. BuaNews / http://allafrica.com

Chissano Presents ADB Report

Former Mozambican president Joaquim Chissano has delivered a report on the future of Africa that calls for reform and growth of the African Development Bank (ADB) so that it can become the continent's economic motor to drive economic integration. Agencia de Informacao de Mocambique / http://allafrica.com

regional and country news

Kenya parties see progress but no final deal

Negotiators for Kenyan President Mwai Kibaki and opposition leader Raila Odinga said talks to resolve their dispute over President Mwai Kibaki’s re-election had moved forward but not reached a final deal. ft.com

Kenya and China: The sound of silence

The murky role of one of President Mwai Kibaki's closest new allies. economist.com

Mbeki apologises for power cuts

The South African president sought to reassure international and domestic businesspeople over the fall out from the power crisis insisting the emergency would be overcome. ft.com

S.Africa growth to slow, but no recession - Treasury

South Africa does not risk falling into recession though growth is likely to slow because of an energy crisis, the head of the National Treasury said on Thursday. africa.reuters.com

War in Chad: World Bank-backed oil project hasn’t created promised “model” of development

Back in 2000 construction began on a $3.7 billion pipeline running from oil fields in southern Chad to the Atlantic coast of Cameroon. The project was completed a few years ago and there appears to have been little or no poverty reduction in Chad since the oil began flowing. Harpers.org / http:// business-humanrights.org

Zimbabwe: Simba's roar

President Robert Mugabe faces a serious new opponent. economist.com

Britain helps Liberia clear debt arrears

Britain has chipped in 20 million pounds as part of an international effort to clear debt arrears owed by Liberia to multilateral lenders, the government said on Thursday. africa.reuters.com

company news

Bottom Line for Red

Consumers have generated more than $22 million to fight H.I.V. and AIDS in Rwanda by buying iPods [made by Apple], T-shirts, watches, cologne and...laptops, with all of them branded “(Product)RED.”... Yet detractors say Red has fallen short. nytimes.com

US prepares to act against Sudan sanction-busters

The U.S. Treasury is preparing to launch a string of civil actions against companies it says have breached sanctions imposed on Sudan for abusing human rights and supporting terrorism, a senior official told Reuters on Thursday. africa.reuters.com

Mbeki speech falls short on economy

South African President Thabo Mbeki's State of the Nation speech fell short of promoting major new initiatives to encourage better SA economic and policy performance, said Citigroup on Friday. iafrica.com

Anglo CEO says SAfrica power woes not a "disaster"

Anglo American Plc's Chief Executive Officer Cynthia Carroll said on Tuesday the power problems that have affected the mining sector in South Africa were serious but not a "disaster". africa.reuters.com

Anglo signs deal with China Development Bank

Mining group Anglo American Plc has expanded its relationship with China, sealing a strategic alliance with the China Development Bank to develop a range of mining projects, Anglo said on Monday. africa.reuters.com

Arcelor Mittal wins Egyptian steel licence

Arcelor Mittal won a licence to build DRI and billet steel factories in Egypt for 340 million Egyptian pounds, the Egyptian Industrial Development Authority said on Tuesday. africa.reuters.com

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