China wants new African partnership

China wants to build a "new type of strategic partnership" with Africa, Premier Wen Jiabao said on Thursday as he continued an intense diplomatic offensive to woo the world's poorest continent. iAfrica.com

South Africa: Jury Still Out On Costs And Benefits of Trade Deal With China, Amid Fears of Severe Job Losses

A free trade agreement with China would have a drastically negative effect on the clothing and footwear sectors in SA -- but the overall economic effect would be positive, says one of the first of a series of studies. Business Day / http://allafrica.com

South Africa: Slumping rand a threat to inflation

Several imbalances and pressure points in the economy have clearly worsened, the South African Reserve Bank (SARB) said on Thursday in its latest Quarterly Bulletin. iAfrica.com

South Africa: Deficit Balloons to 6.4 Percent of GDP

South Africa's current account deficit has increased to 6.4 percent of GDP in the first quarter of 2006, said the central bank on Thursday. Business in Africa / http://allafrica.com

Uganda: Private Sector Hails Budget

If Finance Minister struck a significant code with any section of the economy in his national budget this financial year, it is the private sector. The Monitor / http://allafrica.com

Uganda: Uganda's Telecom Tax 2nd Highest Worldwide

Uganda's mobile telecommunication users are the second most taxed in the world, which has slowed expansion of the networks and economic growth, a survey by GSM Association has revealed. New Vision / http://allafrica.com

Uganda: Cost of Doing Business Still High

Faced with tough decisions on the back of an energy crisis and only sh3,847b available to support economic and social development, finance minister Dr. Ezra Suruma's budget presentation has been applauded amidst concerns over the costs of conducting business and public administration. New Vision / http://allafrica.com

Uganda: Govt to Monitor Private Capital Flows From Abroad

The Uganda government last week approved the creation of a division to monitor foreign private capital (FPC) through the Bank of Uganda's Trade and External Debt Department. The East African / http://allafrica.com

Ethiopia: GDP Slowdown Expected to Dip Below 7 Percent

Economic growth in Ethiopia, measured by Gross Domestic Product (GDP), is predicted to slow down and will be below 7% in the year 2006/07. The Reporter / http://allafrica.com

Gambia: Country Suspended From Millennium Challenge Compact Program

The board of directors of the U.S. Millennium Challenge Corporation (MCC) suspended the Gambia's eligibility for MCC assistance June 16, citing a pattern of actions inconsistent with MCC's selection criteria. United States Department of State / http://allafrica.com

Ghana: Bleak Future for Country's Non-Traditional Exports

The Ghanaian economy has for a very long time been dependent on export revenues from gold, cocoa and timber, whose prices in the international market keep fluctuating. Public Agenda / http://allafrica.com

East Africa: No Import Duty On Energy Products - EAC Ministers

The finance ministers of the three East African countries, Uganda, Kenya and Tanzania have reviewed the Customs Union Protocol to allow free importation of energy power products in the region. The New Times / http://allafrica.com

East Africa: EAC to Review External Tariffs As Dar Retains 10 Percent Duty On Palm Oil

Tanzania will delay the implementation of the Common External Tariff (CET) rate of zero per cent on crude palm oil, for one year, and instead impose a duty rate of 10 per cent. The East African / http://allafrica.com

East Africa: Countries Agree On Marine Cable System Project Model

All countries participating in the development of the East African Sub Marine Cable System (EASSy) have now agreed to implement the project on an 'open access basis,' overcoming a hurdle that had initially threatened to stall or even derail the massive information and communication technology project. The Monitor / http://allafrica.com

Virgin Mobile SA ready for launch

Virgin Group and Cell C will officially launch Virgin's wireless communications service, under the Virgin Mobile brand, on Saturday, both parties said on Thursday. iAfrica.com

Tanzania: Celtel (T) Gets $90 Million Funding for Expansion

Celtel Tanzania Ltd, part of the Pan African Celtel Group with presence in 13 African countries, has received a $90 million loan for network expansion. The East African / http://allafrica.com

South Africa: BEE Group Fails to Stop Vodafone Buying Venfin

The Competition Appeal Court yesterday dismissed an application by a black economic empowerment grouping representing youth in business from derailing Vodafone's R20bn acquisition of VenFin, including its 15% interest in SA's largest cellphone company, Vodacom. Business Day / http://allafrica.com

Zimbabwe: Rating Agencies Wary of Country's Banks

International rating agencies -- increasingly wary of the turbulence shaking the local financial markets -- are placing Zimbabwean banks on watch in yet another kick in the teeth for the troubled economy. Financial Gazette / http://allafrica.com

Moladi solves key low-cost challenges

Who would have guessed that houses could be exported from Nelson Mandela Bay?  Local entrepreneur Hennie Botes, designer and owner of Moladi, has been doing just this for the last two decades.  Weekend Post

Kenya: Power Company To Send Bills Using Mobile Phones

The Kenya Power and Lighting Company has embarked on a programme to roll out bill querying services through mobile phones. The East African Standard / http://allafrica.com