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Africa Business Weekly
11 january 2008

the week's top 20 stories

 

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archive

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

AU wants common African position on EU trade deals

Trade ministers from around Africa will meet before the end of February to hammer out a common position for the world's poorest continent on new trade deals with Europe, a senior African Union official said. africa.reuters.com

UNCTAD sees increased FDI in extractive industries


Mining and energy industries are likely to see increased foreign direct investment (FDI) this year, the United Nations Conference on Trade and Development (UNCTAD) said on Tuesday. africa.reuters.com

Africa government clamp down on graft activists - group


Campaign groups in resource-rich African countries are becoming more vocal wanting to know where oil and mining money goes but risk mounting government clampdowns, an advocacy group said on Friday. africa.reuters.com

Africa 'being drained of doctors'

Many African countries now have more medics working abroad than they do at home, research shows. bbc.co.uk

China keen to strengthen ties in Africa - foreign min

Resource-rich Africa should increase trade and strengthen ties with China to secure its development and stake in the global economy, Chinese Foreign Minister Yang Jiechi said on Monday. africa.reuters.com

regional and country news

US warns Kenya

As police put the death toll in post-election unrest in Kenya at more than 700, the United States, the country’s biggest aid donor, has warned both the government and opposition that it cannot conduct “business as usual” in the East African nation. ft.com

Leaked memo deepens Kenya crisis

A confidential memo from the World Bank’s Kenya office that supports President Mwai Kibaki’s claim of victory in the country’s disputed elections plunged the Washington-based lender into controversy on Wednesday. ft.com

Quick end to Kenya turmoil needed - IMF

Post-election turmoil in Kenya has clearly disrupted economic activity but the extent of the damage to East Africa's largest economy and its neighbors depends on how quickly the political crisis is resolved, a senior International Monetary Fund official said on Tuesday. africa.reuters.com

ANC behind Zuma for SA president

South Africa's ruling ANC confirms that its new leader Jacob Zuma will be the party's presidential candidate in 2009. bbc.co.uk

Zuma doesn't worry Manuel

Finance Minister Trevor Manuel said that he did not have any concerns about the direction fiscal policy might take following the victory of Jacob Zuma at the ANC's leadership conference in Polokwane last month. iafrica.com

Business confidence at four-year low

Levels of business confidence in South Africa are at their lowest for more than four years with the situation likely to worsen in the coming year, a survey by the chamber of commerce said on Wednesday. iafrica.com

Southern Africa Must Tackle Climate Change

Heavy rainfalls and droughts are likely to become more frequent and severe in southern Africa, but an accurate prediction of these events remains difficult, a regional body says. The Namibian

Scandal-hit Interpol chief quits

Jackie Selebi's resignation follows his suspension on Saturday as South Africa's national police commissioner. bbc.co.uk

Zambia sees $400 mln revenue from new mining tax

Zambia will introduce a windfall mining tax this year in a move it expects to generate $400 million in revenue, President Levy Mwanawasa said on Friday. africa.reuters.com

Liberia: Market Women Help Revive Economy

To the untutored eye of a visitor from elsewhere, the markets in Liberia and many other African countries seem chaotic, noisy, smelly, dirty and often dangerous. Traders and shoppers alike are wary of ever-present pickpockets or, more threatening, criminals. allafrica.com

Nigeria: President Yar'Adua Orders Full Disclosure of All FG Accounts

The Presidency has noted with concern reports in some newspapers on January 8, that the passage of the 2008 appropriations bill may be further delayed because of the non-provision by the executive of information, including details of previously undisclosed "special accounts". Nigeria First / http://allafrica.com

Zimbabwe: Country is Named Worst Economic Freedom Violator

Zimbabwe has been ranked among the worst violators of economic freedom worldwide, adding another smudge to the country's widely condemned human rights record blamed for an economic crisis now entering its ninth year. Financial Gazette / http://allafrica.com

company news

Intel 'undermined' laptop project

Intel repeatedly tried to derail a scheme to bring PCs to the developing world, the head of the project says. bbc.co.uk

Millicom International to Spend US$1 Billion in 2008

Reports by Investor's Business Daily say Millicom International Cellular Company (MICC) expects to spend at least another $1 billion in 2008. Much of that spending is in Africa - Sierra Leone, Chad, Congo, Ghana, Tanzania, and Senegal. Concord Times / http://allafrica.com

Off the map in Africa

Most oil companies, especially those listed in North America, avoid war zones and political hot spots, or, once in them, are forced out (Talisman Energy's flight from Sudan comes to mind). Not Toronto-listed Addax. theglobeandmail.com

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