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Africa Business Weekly
12 january 2007

the week's top 20 stories

 

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pan-African news

Just Do It: It’s make-or-break time this spring for global trade talks

To trade wonks versed in psychoanalysis, President George Bush's embarrassing slip of the tongue last month was revealing as well as amusing. The Doha round of global trade talks, which he referred to as the “Darfur round”, is, like the bloodied province of Sudan, an intractable problem that has consumed vast diplomatic efforts to little effect. The Economist

Africa: Britain Wants Doha Trade Talks Revived

The British government is making a last ditch effort to revive the stalled Doha trade talks with only three months available to come up with a compromise agreement. The East African / http://allafrica.com

Nigeria: IMF And Africa - a Partnership for the Future

Africa is on the move. Economic growth in Sub-Saharan Africa will likely exceed 5 percent for the third year in a row, and prospects for 2007 are bright. But sound policies in African countries themselves have played a central role in establishing and maintaining macroeconomic stability. This Day / http://allafrica.com

Multilateral Investment Guarantee Agency (MIGA) Releases Snapshot Africa Report

Snapshot Africa presents the findings of MIGA’s largest benchmarking study to date, which covered six sectors in nine sub-Saharan countries:  Ghana, Kenya, Lesotho, Madagascar, Mali, Mozambique, Senegal, Tanzania and Uganda. Based on nearly 300 investor interviews as well as desktop research, the study reflects the perspective of existing investors who have set up and are operating in a wide range of locations. Click here to download the report.

Release of Report: Business and human rights: The role of business in weak governance zones


This paper has been prepared by the International Organisation of Employers (IOE), in collaboration with the International Chamber of Commerce (ICC) and the Business and Industry Advisory Committee (BIAC) to the OECD. It is the response to the invitation from Professor John Ruggie, the Special Representative of the UN Secretary-General (SRSG) to identify “effective ways for companies to deal with dilemma situations encountered in weak governance zones”. http://www.business-humanrights.org

regional and country news

South Africa: For American Investors, New Paths to South Africa

Investor interest is rising in the Johannesburg Stock Exchange, reflecting South Africa’s growing prosperity as well as its continuing challenges. New York Times

South Africa: Business confidence hits record high

The Sacob Business Confidence Index (BCI) soared to a new record 103.5 in December after reaching a previous all-time high of 103.2 in November from 99.5 in October. iafrica.com

Nigeria loses billions in oil cash

Nigeria says it has lost $4.4bn in oil revenue in the past year due to increasing violence in the Niger Delta region. bbc.co.uk

Zimbabwean inflation hits 1,281%

Zimbabwe's annual inflation rate tops 1,281% driven higher by rising energy costs, official figures show. bbc.co.uk

Kenya: UN Plan to Raise Country's Investment Potential

Over 20 Kenyan companies have joined an initiative by the United Nations Development Programme (UNDP) aimed at providing an effective space for business and civil partnerships in the country. East African Business Week / http://allafrica.com

Kenya: Plan to Boost Economy is Launched

A five-year plan aimed at propelling private sector growth was launched yesterday. The document is expected to help the country achieve the envisaged seven per cent growth by 2010 and a 10 per cent increase in the Gross Domestic Product for the next 25 years. The Nation / http://allafrica.com

East Africa: Comesa Trade Tops $7.8 Billion

Business among Comesa countries has doubled in the past two years, and currently stands at more than $7.8 billion. The East African / http://allafrica.com

East Africa: Competing in a Growing Market

East Africa is increasingly becoming an attractive business destination. Many international investors have expressed interest to exploit the untapped resources and take advantage of growing markets using different strategies. East African Business Week / http://allafrica.com

East Africa: EAC Moving Towards Regional E-Government

The East African Community (EAC) is in the process developing and having a harmonised e-government strategy. This will act as an add-on onto the other objectives of the sub-regional grouping which include a common Customs Union, Common Market as well as Monetary Union. The East African Standard / http://allafrica.com

East Africa: U.S. Trade Agency Gives $473,000 to SMEs

The US Trade and Development Agency (USTDA) has extended a US$473,050 grant to the East African Development Bank (EADB) for support to small and medium enterprises (SMEs). East African Business Week / http://allafrica.com

Cameroon Launches Business Action Against Corruption (BAAC)

The recent launch of BAAC in Cameroon was attended by 120 government and business leaders, including Prime Minister, Ephraim Enoni: “I am delighted that Business Action Against Corruption has started a programme with the Government in Cameroon.  We are determined to improve Cameroon’s competitiveness, and tackling corruption is key to this. BAAC’s business focus and practical approach, as well as its commitment to work in partnership with Government is a critical part of our strategy.” CBC Consulting

company news

South Africa: Telkom Dials Up Uganda to Lift Fortunes Abroad

Telkom is making a third attempt to expand its footprint beyond SA, with the telecommunications group on the verge of clinching a deal to buy into Uganda Telecom. Business Day / http://allafrica.com

BAE South African deal 'probed'

UK authorities launch a probe into payments allegedly made by BAE systems in South Africa, according to a report. bbc.co.uk

Rwanda: SAA Cedes Jo'burg Route to Rwandair

Rwandair Express has taken over all direct flights between Kigali and Johannesburg as the other operator on the route, South African Airways, withdraws from it. The East African / http://allafrica.com

Zambia: Zambia-China Mulungushi Textiles Hatches Plan for Workers' Salaries

Zambia-China Mulungushi Textiles (ZCMT) management has resolved to sell some of its assets to raise money for salary arrears for its workers during the three-month closure. The Times of Zambia / http://allafrica.com

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