Africa: Continent in Top Three Reforming Regions

For the first time, the World Bank has ranked the African region among the top three regions spearheading reforms in business globally. The continent trailed Eastern Europe and OECD countries in easing business transactions in 2005/2006. The World Bank and International Finance Corporation Doing Business 2007 study declared that the period witnessed much pronounced ease in doing business across the world.  Vanguard / http://allafrica.com

The flicker of a brighter future

Once again, Africa is listed as the most difficult place in the world to do business. So why are some businessmen happy to be there?  Special Report on Business in Africa.  The Economist

G20 urges restart of trade talks

Representatives of the G20 group of developing countries have called for the resumption of global trade talks, which were suspended in July.  BBC

Africa: Japan Launches $10 Billion African Trade Fund

The launch of the Japan-Africa partnership programme on Wednesday in Kenya's capital would see Japan pour $10mn into develop Africa's agriculture, fishery and forestry sectors, a minister said.  Business in Africa / http://allafrica.com

Africa: AFDB Debt Relief Initiative Comes in to Effect

Following the approval by the Board of Governors of the African Development Fund (ADF), the concessional window of the African Development Bank (AfDB) Group, the Multilateral Debt Relief Initiative (MDRI) became effective on Friday.  Thirty-three African member countries would benefit from the US$ 8.5 billion debt relief under the MDRI to be provided by the ADF.  The Daily Monitor / http://allafrica.com

Putin in key South African visit

Russian President Vladimir Putin pledges to boost business ties with South Africa on a landmark visit. BBC

Zimbabwe: IMF Not Impressed With Currency Reforms

Zimbabwe’s currency reforms have failed to win the backing of the International Monetary Fund (IMF), further deepening anxiety over the country's fate when the Bretton Woods institution's board meets to review the country's membership in November.  Zimbabwe Independent / http://allafrica.com

Mozambique: Country Records 10 Percent Growth

Mozambique's GDP reached 10 percent in the first half of 2006, making it likely that the yearly forecast of 7.3 percent would be beaten, said the government on Tuesday. Business in Africa / http://allafrica.com

Nigeria: OBJ Seeks Integration of African Stock Exchanges

President Olusegun Obasanjo has called on African Stock Exchanges (ASE) to embrace integration as a short cut to the critical mass required for exploiting the economy of scale and competing in a globalised securities market where size has become a major success factor. Daily Champion / http://allafrica.com

New African business TV channel to launch

Business and financial news television network CNBC will launch an affiliate channel in Africa. Mail and Guardian Online / Google News

South Africa: Chinese quotas will lead to 'chaos'

Manufacturers and retailers of clothing in South Africa have objected "in the strongest possible terms" to the process that has been followed regarding the proposed imposition of restrictions on importing Chinese products. iAfrica.com

Namibia: Old Mutual Unveils Country's Largest Black Economic Empowerment Deal

The Old Mutual Group yesterday announced what it described as the "largest and most broadly based BEE deal ever" in Namibia.  The Namibian / http://allafrica.com

South Africa: Oil Bosses Paint Rosy Picture of Empowerment

Top executives of major oil companies BP, Caltex, Shell and Engen yesterday attempted to dispel perceptions that they were lagging in fulfilling black economic empowerment obligations. Business Day / http://allafrica.com

Nigeria: Econet Loses Bid to Stop Celtel's Takeover

As Celtel Nigeria BV (new owners of Vee Networks Limited, aka Vmobile) plans to inject a minimum of 700 million US Dollars (about N90billion) in the Nigerian telecoms company where it acquired a 65 per cent controlling equity stake, a Lagos High Court judge, Justice Adesuyi Olateru-Olagbegi, has declined to entertain an interlocutory application which sought to reverse the deal and instead ordered an accelerated trial of the substantive suit which was filed by Econet Wireless Limited (EWL), Vmobile's former technical partner.  This Day / http://allafrica.com

Nigeria: Celtel Comes With Deep Pockets And Promises Products Everywhere

Celtel last weekend promised it was in Nigeria for the long haul. Speaking at the company's media launch to signal its formal entry into the Nigerian market, Mr. Norman Moyo, marketing director, explained that after shelling out a lot of money to have juicy chunk of Vmobile, Celtel was much more focused in the long term and in the future of Nigeria. Vanguard / http://allafrica.com

Nigeria: Transcorp Pays $750 Million for Nitel as Globacom Hits 9 Million Subscribers

Indications emerged last night that Transcorp, preferred bidder for troubled national carrier, NITEL, has paid a sum of $750m for the telecoms giant, just as Second National Operator, Globacom announced that subscription to its mobile arm, GloMobile has hit nine million. This translates to a record three million subscribers every year. Details of the Transcorp payment were sketchy last night. Vanguard / http://allafrica.com

South Africa: Second Network Operator Launched to Bring Competition to Telecoms

South Africa's second network operator (SNO) which has been developed to bring competition within the fixed line telecommunications industry has been announced as Neotel. BuaNews / http://allafrica.com

Nigeria: CBN Plans $2bn African Finance Corporation

The Central Bank of Nigeria (CBN), has said it was promoting the establishment of an African Finance Corporation (AFC), which will be capitalized to $2 billion. This Day / http://allafrica.com

South Africa: Affordable Mzansi Accounts Aimed at Unbanked Balloon to 3.3 Million

The number of Mzansi accounts has ballooned to 3,3-million within 18 months of its launch, Finance Minister Trevor Manuel confirmed this week, illustrating a sharp uptake in the national bank account this year. Business Day / http://allafrica.com

Ethiopia: 'Ethiopia Top Coffee Exporter'

Ethiopia had overtaken Côte d'Ivoire to become the leading African coffee supplier, said Ethiopia's minister of agriculture and rural development. Business in Africa / http://allafrica.com