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Africa Business Weekly
8 june 2007

the week's top 20 stories

 

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pan-African news

Private firms work on Africa's future

Ahead of this year's summit of the world's eight leading industrial nations in Heiligendamm, Germany, African leaders and business executives have gathered in London to hammer out solutions to the continent's remaining plight. bbc.co.uk

G8 leaders 'make $60bn Aids deal'

G8 leaders agree to spend $60bn (£30bn) fighting Aids in Africa, as their German summit draws to a close. bbc.co.uk

Uganda, Zambia set out Africa's priorities to G8

Africa needs targeted aid in order to trade and practical help on energy generation and infrastructure, the presidents of Uganda and Zambia said on Tuesday ahead of a summit of world leaders later this week. africa.reuters.com

Tories advocate watchdog to monitor aid impact

The Conservatives last night called for this week's G8 summit in Germany to create a new international body to measure the effectiveness of aid spending as they warned that much of the west's development budget was being badly used. guardian.co.uk

The rich world can help Africa

Jeffrey Sachs and Glenn Denning argue that the G8 can look to Malawi as a good example of how to benefit a poor country, as last year the government provided farmers with subsidized fertilizers, a move that has yielded "spectacular" results and holds lessons for donors on how to help the African continent help itself. Financial Times

Zoellick says World Bank needs stronger Africa partnership

The World Bank should strengthen its partnership with Africa and be sensitive to country-specific challenges in dealing with the continent, its presidential nominee Robert Zoellick said on Saturday. africa.reuters.com

How to Turn The Curse of Oil Into a Blessing

The Extractive Industries Transparency Initiative (EITI) shows how regulations and increased participation of Civil Society Organizations can help curb the negative impacts of extraction across the continent. ipsnews.net

Doha round, Russia WTO entry "doable" - Lamy

Successful completion of the Doha round of trade talks and bringing Russia into the World Trade Organisation are both achievable, WTO head Pascal Lamy said on Sunday. africa.reuters.com

U.S. to Boost Africa's Financial Markets

U.S President George Bush last week announced a new project that will see America provide technical assistance to help African nations strengthen their financial markets. East African Business Week / http://allafrica.com

Rich nations too demanding in trade talks - S.Africa

South Africa's top trade negotiator said on Tuesday rich nations were making unrealistic demands of developing countries that could undermine social and economic development. africa.reuters.com

World urged to focus on Africa's economic success stories

News items on disease, conflict and corruption in Africa are crowding out positive stories of burgeoning economies on the continent, speakers at a global technology and design meeting said this week. africa.reuters.com

regional and country news

Zambian leader challenges West over investment

Zambian President Levy Mwanawasa challenged the West to match Chinese investment in his country on Tuesday, saying Western countries had let Zambia down. africa.reuters.com

Zambia's Chiluba told to pay $58 mln in graft row

Zambia's former president, Frederick Chiluba, has been ordered to pay back $58 million allegedly stolen while in office in what has been called a landmark strike against official corruption in Africa. africa.reuters.com

Trade flows again from Sierra Leone to Liberia

Cars, trucks and motorbikes crossed over the main bridge between Liberia and Sierra Leone for the first time in four years on Thursday as the key trading route reopened after a decade of civil wars. africa.reuters.com

Strike weighs on business confidence

Business confidence in South Africa is falling — as soaring inflation, looming interest rate hikes and the indefinite public sector strike all take their toll on the country.

company news

Why Africa will succeed

Diamond king Nicky Oppenheimer offers ten rules for accelerated growth. moneyweb.co.za

Uganda: Celtel Founder Highlights African Bottlenecks

Celtel founder Dr. Mo Ibrahim has isolated lack of an enabling environment for business as the single-most important challenge to growth in many African countries. Addressing a conference on enabling environment in Kabul, Afghanistan, Dr Ibrahim said many developing countries still had barriers that kept away potential investors. The Monitor / http://allafrica.com

Building Linkages for Competitive and Responsible Entrepreneurship

This UNIDO and Harvard report illustrates examples of existing initiatives and offers recommendations for increasing their scale and effectiveness. Research has identified three key spheres of influence through which responsible business practices can contribute to development and poverty reduction: Core business activities, social investment and philanthropic activities and policy dialogue and advocacy activities. business-humanrights.org

Nigeria drug trial case delayed

A billion dollar court case is delayed in Nigeria against a US pharmaceutical giant over a drug trial in which 11 children died. bbc.co.uk

Investors lured by Kenyan listing

Internet firm AccessKenya sees its listing in East Africa attract huge interest from investors. bbc.co.uk

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