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Africa Business Weekly
18 january 2008

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

World Economic Forum Chair Highlights Continent

Ahead of the annual World Economic Forum meeting, kicking off Wednesday, the current WEF chair has highlighted Africa's development as among the issues to be addressed at the five day event. BuaNews / http://allafrica.com

Trade Talks Stuck on Development Issues

African negotiators are concerned that their development concerns have been sidelined in the much vaunted Doha Development Round of negotiations at the World Trade Organisation (WTO). Whether the round, which has missed two previous deadlines, will be concluded this year or not depends on several issues. Inter Press Service / http://allafrica.com

AfDB bullish on Africa despite Kenya crisis

Kenya can shore up its position as a pillar of African growth if it pulls back quickly "from the precipice" of political crisis, a lender said on Tuesday. africa.reuters.com

IMF amends rules for countries seeking debt relief

The International Monetary Fund has amended its rules to allow poor countries that are in arrears to the institution to apply for debt relief based on strong economic policy performances. africa.reuters.com

Europe Takes Africa’s Fish, and Migrants Follow

Industrial fishing from Europe is crippling coastal African economies and creating a surge of illegal migrants. nytimes.com

regional and country news

Kenya paying high price for instability

As Kenya braced itself for a third week of post-election unrest, analysts warned that the continuing standoff between President Mwai Kibaki and the opposition leader, Raila Odinga, could have far more damaging repercussions for east Africa’s biggest economy than initially forecast. ft.com

New post-poll violence hits Kenya

Five people die in Kenya as the opposition leader calls for international mediation to end post-poll violence. bbc.co.uk

Kenya's neighbours still feel pinch of crisis

Fuel and basic commodity shortages in landlocked countries neighbouring Kenya, which is wracked by political unrest, have eased but traders are hoarding supplies and prices have risen steeply. africa.reuters.com

Dubai World in $800 mln Senegal economic zone deal

Dubai World Group's Jafza subsidiary signed an $800 million deal on Monday to build and run a special economic zone in Senegal, its chairman said. africa.reuters.com

Malawi severs links with Taiwan

Malawi announces that it is cutting diplomatic ties with Taiwan to focus on cementing relationship with China. bbc.co.uk

Morocco, Jordan sign $2.2 bln investment deals

Morocco's largest state fund, Caisse de Depot et de Gestion (CDG), signed joint venture deals with Jordanian property developer Mawared worth $2.2 billion, Moroccan government officials said on Monday. africa.reuters.com

S Africa power cuts blamed on lack of planning

For more than a year businesses and householders have become accustomed to intermittent outages stemming primarily from the African National Congress government’s failure in the last decade to plan for increasing electricity demand. ft.com

Nigeria struggles with graft controversy

Blanket coverage of the violence engulfing Kenya has kept a far subtler power struggle playing out on the other side of Africa far from the headlines. ft.com

A serious rival, at last?

Robert Mugabe may be facing his most dangerous opponent yet. economist.com

company news

Helios at risk from Kenya boycott

A private equity group based in London risks becoming caught up in the Kenyan political crisis after the country’s opposition leader called for a boycott of a bank in which it is the largest shareholder.

Nigeria seeks $40bn over smoking

A multi-billion dollar lawsuit brought by the government against major tobacco firms is to open in Nigeria. bbc.co.uk

Nigeria: Procter and Gamble Boss Calls for Public/Private Partnership

The managing director of Procter and Gamble West Africa, Mr. Stanislav Vecera, has renewed the call for a comprehensive public/private partnership to overcome infrastructural challenges that have been the bane of the real sector in Nigeria. Leadership / http://allafrica.com

Tanzania wins £3m damages from Biwater subsidiary

The government of Tanzania has won more than £3m from a subsidiary of British company Biwater in a long-running dispute over a controversial contract to run the water system of Dar es Salaam. guardian.co.uk

Uganda: ARV Firm is Best Investor

LUZIRA-based Quality Chemicals antiretroviral and anti malaria drug manufacturing plant, has been crowned overall winner for of the 2007 Investor of the Year Award. The Monitor / http://allafrica.com

Independent News to buy S.Africa's CCI for $127 mln

Independent News & Media Plc said late on Thursday it would buy Clear Channel Outdoor Holdings Inc's 50 percent stake in African advertising firm Clear Channel Independent (CCI) for 86.6 million euros. africa.reuters.com

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