Investors Want to See Good Practices Sustained, Africa Bank President Says

Not enough attention is being paid to African success stories, World Bank President Paul Wolfowitz told an Africa investment forum last week. Citing a decline in active armed conflicts on the continent from 16 in 2002 to six today and the fact that 15 Africa countries have had medium growth rates of better than 5% over the past decade, he said the trend is encouraging, although higher growth is required "to make a dent in poverty." allAfrica.com / http://allafrica.com

African Union Chairman Expresses Optimism, Pushes Investment

President Denis Sassou Nguesso of the Republic of Congo, current chairman of the African Union (AU), spoke on developments on the continent as well as investment opportunities in his country and also took questions at a dinner organized by the Corporate Council on Africa in Washington, D.C. recently. allAfrica.com / http://allafrica.com

Continent Unable to Meet Demand Under Agoa

Many African countries are unable to produce a wide range of competitive products for the US market under the Africa Growth and Opportunity Act (Agoa). The East African / http://allafrica.com

Chinese PM launches Africa tour

China's premier arrives in Africa for a week's tour aimed at developing economic links and securing raw materials. BBC

Nigeria: Country Loses 800,000 Bpd Oil Output Due to Niger Delta Violence

Attacks on oil personnel and facilities by militants in the Niger Delta has been eating deep into the country's economy as about 800,000 barrels per day (bpd) of Nigeria's oil production is currently shut in as a result of the insurgence in the region. This Day / http://allafrica.com

Kenya: Kenya Set to Obtain Global Credit Rating

Kenya is set to seek sovereign credit rating from a global agency this year, Finance minister Amos Kimunya said. The Nation / http://allafrica.com

Kenya: Country's Budget Seeks To Promote Growth

The youth and women are the principal beneficiaries of Amos Kimunya's first Budget as Finance minister. The East African Standard / http://allafrica.com

Uganda: World Bank Warns Finance Minister On Budget

The World Bank has issued a diplomatically toned but sternly worded warning over the government's failure to budget adequately for the energy sector in the 2006/2007 budget read by Finance Minister Ezra Suruma on Thursday.  The Monitor / http://allafrica.com

South Africa: Trevor's Budget approved

The National Assembly on Tuesday approved the 2006/07 Budget tabled by Finance Minister Trevor Manuel in February this year, which allows for government spending of R469.6-billion. iAfrica.com

South Africa: Business confidence still buoyant

The RMB/BER business confidence index declined by four index points from 86 to 82 from the first to the second quarter of 2006, reflecting a 4.7 percent drop in confidence. iAfrica.com

Nigeria: Economic Growth Rate Declines, Says Central Bank

The Nigerian economy recorded a growth of 2.7 per cent in the first quarter of 2006, showing a decline when compared with the 6.9 per cent growth rate recorded in the same period of last year. This implies that the 10 per cent economic growth rate target set by the Federal Government in the 2006 budget may not be realisable if the trend continues. Vanguard / http://allafrica.com

Rwanda: Country's Growth to Slow to 5 Percent

Rwanda's growth was expected to slow from 6.3 percent last year to 5 percent this year, said the country's finance minister. Vanguard / http://allafrica.com

East Africa: EAC to Rethink Taxes for Growth

Kenya's exports to an East African Community union have grown to such an extent that the union now represents the country's second biggest trading bloc, after the European Union. Business in Africa / http://allafrica.com

PCs in South Africa to pass 5-million mark

The number of Personal Computers (PCs) in use in South Africa will pass the 5-million mark for the first time this year, according to a new study released on Tuesday. iAfrica.com

OECD issues guidance for multinational companies operating in "weak governance zones"

Around 900 million people, or approximately 15 per cent of the world’s population, live in so-called ‘weak governance’ zones, particularly in sub-Saharan Africa, where governments are unwilling or unable to assume their responsibilities in relation to public administration and protecting human rights. The OECD Risk Awareness Tool is designed to help companies to think about the risks and dilemmas they may face in such zones and how they can respond to them.  Business and Human Rights Resource Centre

South Africa: Country's Businesses Grow Strong in African Soil

A survey of multinationals operating in 15 African countries has found that South African businesses are enjoying exceptionally strong sales growth in the continent's markets. Business Day / http://allafrica.com

South Africa: Business Connexion approves Telkom offer

Business Connexion (BCX) shareholders have accepted Telkom's R2.43-billion takeover offer, the technology group said on Monday. iAfrica.com

Nigeria: Vmobile - Court Refuses to Stop Celtel Deal

A Lagos High Court Judge, Justice Adesuyi Olateru-Olagbegi, has dismissed an application for an interim order of injunction brought by Econet Wireless Limited (EWL), asking the court to restrain the Nigerian Communication Commission (NCC) from giving approval to the sale and transfer of shares of the 21 shareholders of Vee Networks Limited (Vmobile) to Celtel Nigeria BV. This Day / http://allafrica.com

Nigeria: IFC, Access Bank Provide Loans to Women Entrepreneurs

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, weekend signed an agreement with Access Bank Plc to provide a $15 million loan which will be used to extend lines of credit to women entrepreneurs. This Day / http://allafrica.com

Starbucks Wants More Rwandan Coffee

A United States coffee giant would buy more coffee from Rwanda, said the company's European-based head of global purchasing. Business in Africa / http://allafrica.com