African bank chief warns on internal strife

Donald Kaberuka believes internal strife poses more of a threat to African economies than external shocks. However, in an interview with the Financial Times, the president of the African Development Bank (AfDB) still forecast average growth on the continent would rise in 2008 to 6.5 per cent. ft.com

Africa reform would open fund "floodgates"- expert

Africa could attract more than $20 billion in investment to plug big infrastructure gaps provided individual states cede more sovereignty to strengthen regional economies, an African Development Bank expert said on Wednesday. africa.reuters.com

African bank to champion infrastructure financing

Sixty percent of the African Development Bank's $8.9 billion soft loan resources for 2008-2010 will go towards infrastructure projects on the continent, a bank official said on Thursday. africa.reuters.com

Trade powers eye new WTO push around Easter

Rich and poor countries aim to meet around Easter to try to seal a long- elusive global trade deal before U.S. President George W. Bush leaves office, ministers said on Saturday. africa.reuters.com

Gates gives $306 million for African farming

The Bill & Melinda Gates Foundation is giving $306 million to boost the yields and incomes of small farmers in Africa and other parts of the developing world, it said on Friday. africa.reuters.com

Dubai World sees unique opportunities in Africa

Investment group Dubai World sees unique opportunities in Africa and is eyeing a fresh deal for a port and a business park in Tanzania after signing a $800 million contract in Senegal on Monday, its chairman said. africa.reuters.com

Violence Continues in Kenya a Day After Talks

While the political bickering continued in Kenya, so did the violence, with gangs of young men from opposing ethnic groups killing each other in the streets with machetes and bows and arrows. nytimes.com

Kenya: Businesses See Huge Losses

Local manufacturers are projecting an estimated Sh260 billion loss in the next six months due to post-election turmoil. The East African Standard / http://allafrica.com

S African power cut drives up gold prices

Gold and platinum prices hit an all-time high after South Africa’s main precious metals mines were forced to close on Friday for lack of power as the government said the country faced a “national electricity emergency”. ft.com

Power crisis to cost SA 2% of GDP

An energy crisis of the current magnitude could cost the South African economy between one percent and possibly two percent of GDP per year, or R1-billion to R2-billion a day in the worst case scenario, chief economist of Efficient Group Dawie Roodt said. iafrica.com

Zambia copper producer suspends operations

Zambia’s largest copper producer, Konkola Copper Mines, majority-owned by London-listed Vedanta Resources, has suspended operations due to flooding caused by recurring power outages. ft.com

Zambia to introduce windfall tax on base metals

Zambia will introduce a windfall tax on base metals at a minimum rate of 25 percent and increase mineral royalties to 3 percent from 0.6 percent, Finance Minister Ngandu Magande said on Friday. africa.reuters.com

Zuma says South Africa's growth will stay priority

African National Congress leader Jacob Zuma pledged on Saturday to continue economic policies which have brought strong economic growth to South Africa if he becomes president. africa.reuters.com

Ghana: Investment Flows Double

The Ghana Investment Promotion Center (GIPC) which has over the years positioned itself as the premier agency in Africa to compete globally for investment has doubled its investment flow to a tune of GH ¢1.15 billion. Ghanaian Chronicle / http://allafrica.com

Nigeria: World Bank to Spend $2.4 Billion

The World Bank has disclosed that it has a total project valued $2.4 billion to execute in the area of development, economic management and governance, just as it commended Nigeria's macroeconomic performance, economic reforms and anti-corruption efforts in the last four years. Vanguard / http://allafrica.com

Nigeria to scrap immunity for politicians - Yar'Adua

Nigerian President Umaru Yar'Adua has said he supports ending immunity from prosecution for top political office holders in one of the world's most corrupt countries, although he has given no timetable to do so. africa.reuters.com

South Africa: Banks Threaten to Pull Billions Out of BEE Deals

Banks threatened yesterday to withdraw billions of rands of Black Economic Empowerment financing until the uncertainty about the size of black ownership of financial institutions was resolved. Business Day / http://allafrica.com

Business coalitions tackle Aids

A report launched on Thursday by the Global Health Initiative of the World Economic Forum shows that business coalitions are helping one million companies tackle AIDS in the workplace. iafrica.com

Chevron gives $30m to global health fund

Chevron, the US-based energy group, is to contribute $30m in cash over three years to the United Nations-backed Global Fund to Fight Aids, TB and Malaria, in a pioneering move to lend direct corporate support to international health programmes. ft.com

Liberia: Arcelor Mittal to Begin Export 2010

Lands, Mines and Energy minister, Dr. Eugene Shannon has disclosed in Monrovia that the multi-million dollar steel company, Acerlor/Mittal will begin it first shipment of iron ore from Liberia in 2010. The Inquirer / http://allafrica.com