Africa business environment greatly improved - IFC

The International Finance Corporation (IFC) said on Thursday it plans to invest $1 billion in Africa this year compared with $140 million in 2003, the business atmosphere in many countries having greatly improved. africa.reuters.com

Wolfowitz Seeks African Leaders’ Backing

Several finance ministers of African countries said Paul D. Wolfowitz had done an outstanding job in increasing aid to Africa and demanding an end to corruption. The New York Times

Wolfowitz: Rich nations must fulfill aid promises

Developing countries turned in a sixth consecutive year of growth despite high oil prices, but donor nations need to make good on vows to boost aid, World Bank President Paul Wolfowitz said on Saturday. africa.reuters.com

IMF sees sub-Saharan Africa '07 GDP growth at 6.7 pct

Economic growth in sub-Saharan Africa will accelerate this year to 6.7 percent, the highest in a decade, but more reform is essential if the gains are to stabilise and broaden, the IMF said on Friday. africa.reuters.com

New Trade Rules Expected to Benefit Some Developing Countries

Multilateral agricultural trade policy reform is expected to stimulate trade and economic growth, but any new trade rules need to be compatible with the first Millennium Development Goal, which calls for the proportion of people suffering from hunger or living in extreme poverty to be reduced by half by the year 2015, warns the UN Food and Agriculture Organization (FAO) in its annual report on the State of Agricultural Commodity Markets 2006 (SOCO2006), issued today. Food and Agriculture Organization of the United Nations / http://allafrica.com

Africa turns to China for financing, role model

Africa is increasingly turning not just to the West, but eastward to China for financing to help its economic development, and as a role model in combating the continent's poverty. africa.reuters.com

10 Practical actions for companies to help address the emerging global water crisis

Water is our most precious natural resource, but year on year population growth, poorly managed catchments, wastage and climate change are producing water shortages across the globe – affecting health, destroying livelihoods, exacerbating environmental decline and provoking conflict. IBLF / http://business-humanrights.org

Tensions high in Nigeria after violent poll

Tensions ran high in many places across Nigeria on Sunday as voters awaited results from state elections a day earlier that were marred by rigging and violence. africa.reuters.com

East Africa: East Africa Regional Growth Declines

The East African region performed best in economic growth in 2004 and 2005 but experienced a decline in 2006, statistics show. New Vision / http://allafrica.com

BEE is flawed - Manuel

South Africa's policy of Black Economic Empowerment is flawed and in need of review, Finance Minister Trevor Manuel has said in an interview with a British newspaper. iafrica.com

Uganda: Investment Confidence Centrepiece for Growth

Growing confidence over the years among Ugandan entrepreneurs to invest within the country is seeing an upward trend in the value of local investments and could soon surpass the annual worth of foreign direct inflows. The Monitor / http://allafrica.com

South Africa: Business Less Confident -- Sacob Index

Economists remain optimistic about the health of the overall economy even though business confidence in SA dropped last month. Business Day / http://allafrica.com

Ghana: $1,000 Will Not Make Country Middle-Income

Barely one month after the government unveiled the draft of a 10-year development plan that is supposed to make Ghana a middle income country with a per capita income of US$1,000 by 2016, a prominent economist has advised the government to reconsider the figure and focus instead on human development as a means to improving living standards in Ghana. Ghanaian Chronicle / http://allafrica.com

Ghana: Country to Develop Micro Finance Policy

Ghana will soon launch a Micro Finance Policy developed in consultation with policy makers, practitioners and end users. The introduction of such a policy is said to be the first in Ghana and in Africa as a whole. Public Agenda / http://allafrica.com

Kenya: New Rules for Micro-Finance Institutions

Micro-finance institutions have been given until end of June, to comply with new guidelines released by the Central Bank of Kenya, on ownership and minimum capital before they are licensed. The Nation / http://allafrica.com

Somalia: Politics: Entrepreneurs - Making Good in Somalia

High demand and an absence of government intervention means entrepreneurs are making good in Somalia, arguably the world's most failed state. The Reporter / http://allafrica.com

Zimbabwe future seen gloomy over economy, Mugabe's rule

Zimbabwe marks 27 years of independence this week, but for many the celebration will be overshadowed by the country's economic meltdown and a political crisis over President Robert Mugabe's plans to remain in power. africa.reuters.com

IBM gets SAB mega-contract

IBM South Africa has clinched a six-year multi-million-rand IT services contract from the South African Breweries, which both companies hope will drive technology and improve services. iafrica.com

South Africa: State Faces R8bn Claim From BEE Kingpin Zungu

In the largest legal dispute over an empowerment deal to date, Transnet and the government are facing an R8bn legal claim from prominent businessman Sandile Zungu over a soured deal involving the sale of 80-million shares in cellphone company MTN. Business Day / http://allafrica.com

Ethiopia: German Co Invests Half Bln Birr Plus on Bio-Fuel

The internationally booming bio-fuel industry is being represented in the Oromia Regional State after an enormous 671 million Br loan by a German company. Flora Eco Power will join four other firms in Ethiopia, a country rich with potential for growth in the sector receiving increased attention in light of skyrocketing fossil fuel prices. Addis Fortune / http://allafrica.com