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Africa Business Weekly
9 march 2007

the week's top 20 stories

 

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pan-African news

Plea to Blair over Africa

Oxfam urges Tony Blair to make the fight against African poverty a priority for his time left in office. bbc.co.uk

U.S. Conducts Securities Market Oversight Training in Africa

Africans are learning techniques for better oversight of stock market trading -- a critical part of the business engine transforming Africa from aid dependency to self-reliant prosperity -- through an innovative training program recently conducted by the U.S. Securities and Exchange Commission (SEC). United States Department of State / http://allafrica.com

EU Reform Moves Will Affect African Trade

The ongoing relevance of the European Union (EU) as a trading partner for SA and Africa is something often taken for granted despite changes in traditional trade patterns such as those now developing with China. Business Day / http://allafrica.com

Publication of Report: EU Development and Trade Policies: An update

The International Development Committee will publish its report on EU Development and Trade Policies: An update at on Wednesday 14 March 2007 as the Fifth Report from the Committee, Session 2006-07. This Report comments on progress in relation to the WTO Doha development round, Economic Partnership Agreements and EU development policy since the Committee last reported on these issues in 2005 and 2006. Click here to download the report after March 14.

regional and country news

Ghana celebrates first 50 years

Ghana celebrates 50 years of independence, a move that sparked similar struggles across Africa. bbc.co.uk

Wireless Technology Speeds Health Services in Rwanda

Cellphones are now being used to report from the field in Rwanda, enabling health care workers to better track and manage patients. The New York Times

Angola eyes $50bn oil cash

Angola says it expects to see investors pour $50bn into its oil industry over the next six years. bbc.co.uk

Congo-Kinshasa: Wolfowitz Says World Bank Must 'Move Fast'

At a press conference in Kinshasa on Friday March 9,2007, President of the World Bank Paul Wolfowitz stressed the need for the institution to 'move fast' in support of the DRC's reconstruction. He expressed his optimism for the country's future, and said that the World Bank was fully committed to supporting the fledgling DRC government in the fight against bribery and corruption, which he said was the 'main obstacle' to economic growth. United Nations Mission in the Democratic Republic of Congo / http://allafrica.com

Rwanda: UK Businessmen to Woo Investments to Rwanda

A business delegation from the United Kingdom (UK) led by East African Association (EAA) chief, which was here to explore investment opportunities, has pledged to woo investors to the country. Speaking shortly after meeting President Paul Kagame at Village Urugwiro yesterday, the EAA chief, John Small, also told journalists that his delegation was impressed by the country's stringent anti-corruption policies. The New Times / http://allafrica.com

Small business gets euro injection

The European Union funded Risk Capital Facility 2, launched through South Africa's Department of Trade and Industry, has provided €50-million to facilitate broad-based back economic empowerment in the small business sector. iafrica.com

Business confidence stumbles in 07

Sacob's Business Confidence Index has posted the worst annual start in 2007 since 2002, with the chamber saying that the confidence could become even more volatile given its sensitivity to the rand. iafrica.com

Affirmative action to stay for good

Affirmative action policies will never be ruled out in South Africa, the labour minister said on Saturday. iafrica.com

Zimbabwe: Zim-China Trade to Go Up $500 Million

Trade between Zimbabwe and China is predicted to rise to US$500 million in 2008 on the back of sound political ties that continue to exist between the two countries, the Chinese Ambassador to Zimbabwe, Mr Yuan Nansheng, said last week. The Herald / http://allafrica.com

Ethiopia: World Bank Calls for Reform in Financial Sector

The World Bank wants the Ethiopian government to implement a reform program in the financial sector, a senior bank official said last week. The Reporter / http://allafrica.com

Zambia: Invest in Zambia, Malaysians Urged

President Mwanawasa has implored private Malaysian investors to explore business opportunities in Zambia, stressing that it was the only way to revamp the country's economy. The Times of Zambia / http://allafrica.com

Namibia: Companies Urged to Get Proactive On Aids

Government has called on Namibian companies to include HIV and AIDS activities in their annual budgets to ensure that their equipment is operated by humans. The Namibian / http://allafrica.com

Uganda: Cherie Blair Launches $2 Million Women in Business Fund in Kampala

DFCU Group last week launched a $2 million lending and training programme for women entrepreneurs in Kampala. The East Africa / http://allafrica.com

company news

Ghana: Uttam Galva to Invest $60 Million in Ghana

India-based galvanized steel manufacturer, Uttam Galva, said on Wednesday that the company has entered into a joint venture with Liberty Commodities, a UK-based trading company, to construct two new steel re-roller mills in Ghana at an investment of $60 million, or around Rs. 270 crores. Ghanaian Chronicle / http://allafrica.com

Indian Patent Case Crucial to Aids Drug Prices

The controversial legal challenge by Swiss pharmaceutical company Novartis to India's patent laws ended on Monday, casting a shadow over the future of the country's generic drugs industry. UN Integrated Regional Information Networks / http://allafrica.com

BAE's SA unit breaks records

Two new contracts from the US Army and Sweden, worth R630-million, have helped BAE Systems Land Systems OMC, the group's SA business, to achieve record growth. iafrica.com

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