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Africa Business Weekly
14 december 2007

the week's top 20 stories

 

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pan-African news

Trade Deals Stymied at Lisbon Meeting

Despite committing themselves to a new partnership of equals, European and African leaders conflicted over trade and human rights violations in Zimbabwe. nytimes.com

Climate change 'not luxury' for Africa - Maathai

Industrialised countries have a moral responsibility to help Africa mitigate the effects of climate change, Kenya's Nobel laureate Wangari Maathai said on Friday. africa.reuters.com

World Bank upbeat on record funds for poor nations

The World Bank's president said on Thursday he was confident it would raise record funds to aid the poorest countries. africa.reuters.com

U.S. Credit Crunch Unlikely to Affect Continent - the Economist

The current United States credit crisis will not have a major effect on the economies of African countries in the short-term, a report by the Economist Intelligence Unit. Mmegi/The Reporter / http://allafrica.com

regional and country news

Zuma heads for S. Africa presidency after ANC vote

South Africa's ruling ANC elected Jacob Zuma as its new leader on Tuesday, dumping President Thabo Mbeki and putting the populist Zuma on course to lead the country in 2009.  Reuters South Africa.

EU makes headway in Africa trade talks with new deals

The European Union made a breakthrough on Wednesday in its rush to meet an end-of-year World Trade Organisation deadline, saying it had initialled new trade deals with three former African colonies and was on the verge of brokering more agreements. africa.reuters.com

US Senate OKs Sudan divestment bill, sends to House

The U.S. Senate gave a green light to a grass-roots effort urging investors to withdraw their funds from companies doing business in Sudan because of violence in its Darfur region. africa.reuters.com

Annan group ploughs $13 mln to help Africa farmers

A green group headed by former U.N. chief Kofi Annan has given $13 million in grants to help small businesses in Malawi, Tanzania and Kenya to reduce prices of supplies to farms in a bid to boost farming output. africa.reuters.com

Zambia: President Call for EU Countries to Open Up Their Markets to Africa

The call by President Mwanawasa for European Union (EU) countries to open up their markets to African agricultural produce is a serious matter, which should be accorded the attention that it deserves. For a long time, African countries have been crying about the restricted access to the lucrative EU and other markets. The Times of Zambia / http://allafrica.com

Kenya slams UK over graft claims

Justice Minister Martha Karua warns the UK not to treat Kenya as a colony, after a debate on corruption. bbc.co.uk

Bush says Nigerian leader "committed to democracy"

U.S. President George W. Bush on Thursday offered warm praise for new Nigerian President Umaru Yar'Adua's commitment to democracy after past complaints about flaws in his election in April. africa.reuters.com

Mozambique to seek more inward investment - President

Mozambique will intensify efforts to attract foreign investment in 2008, particularly for oil and gas exploration and agriculture, President Armando Guebuza said on Thursday. africa.reuters.com

East Africa: Business Council Slams EAGovts

The East African Business Council (EABC) has criticised governments in the region for sidelining the private sector when taking major decisions that have implications on the regional economies and the corporate environment. The Citizen / http://allafrica.com

South Africa: SA in Global Top 25 for Investment

South Africa has been ranked as the 18th most attractive foreign direct investment destination worldwide. BuaNews / http://allafrica.com

company news

East Africa: Starbucks Plans Sh64m Coffee Centres in Region

Global coffee retailer Starbucks is investing more than $1 million (Sh64 million) in two farmer support centres tasked with improving the quality of East African coffees. Business Daily / http://allafrica.com

Mittal says to up Liberia investment to $1.5 bln

Arcelor Mittal, the world's largest steelmaker, said on Wednesday it will increase investment in an iron ore project in Liberia by $500 million to $1.5 billion in a vote of confidence in President Ellen Johnson-Sirleaf's government. africa.reuters.com

BHP, Anglo manganese firm seals empowerment deal

Samancor Manganese, jointly owned by mining groups BHP Billiton and Anglo American, agreed to transfer 9 percent of its South African mining operations to a black investor group in exchange for nearby prospecting rights, the firm said on Tuesday. africa.reuters.com

Kenya signs telecoms link deal with Alcatel-Lucent

France's Alcatel-Lucent signed an optical fibre construction agreement worth $82 million on Tuesday to lay the first telecoms cable connecting east Africa's coast with the rest of the world. africa.reuters.com

Nigeria: Federal Government Renews Agreement With Microsoft Corporation

The Federal Government has renewed the licensing agreement with Microsoft Corporation under a strategic partnership agreement. Daily Trust / http://allafrica.com

Steinhoff says to sell Africa unit stake to blacks

South African furniture retailer Steinhoff said on Monday it would sell at least 20 percent of its African division to black investors for 1.8 billion rand in debt and equity. africa.reuters.com


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