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Africa Business Weekly
25 may 2007

the week's top 20 stories

 

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pan-African news

Farm, goods talks seen stalled in WTO trade round

The World Trade Organisation's Doha Round negotiations on cutting barriers to global commerce appeared in serious trouble on Saturday as talks on the key farm and goods tariff dossiers were reported in blockage. africa.reuters.com

China Pledges $20 Billion

China intends to provide about 20 billion USD in infrastructure and trade financing to Africa during the next three years, eclipsing many of the continent's traditional big donors by a single pledge, The Financial Times reported. The Ethiopian Herald / http://allafrica.com

EU's ex-colonies deny being rushed into trade deals

Europe's former colonies do not agree with European anti-poverty campaigners who say poor nations are being forced into new trade deals with the European Union, an African minister said on Friday. africa.reuters.com

EU Reaches Out to Civil Society on Trade Agreements

The European Union and the Eastern and Southern Africa (ESA) countries will hold a seminar for civil society in an attempt to solicit the latter's support in steering new trade relations between the EU and developing countries in the context of the Economic Partnership Agreements (EPAs). The East African / http://allafrica.com

Paris Club creditors plan steps over vulture funds

The Paris Club of official creditors said on Wednesday it would look at concrete steps to prevent aggressive investors buying poor countries' debt at a low price and then suing to recover large sums of money. africa.reuters.com

China's exim-bank, World Bank to cooperate on Africa

The World Bank and the Export-Import Bank of China on Monday signed a memorandum of understanding to improve cooperation, a major step in better grasping the Asian giant's interests in Africa. africa.reuters.com

It is Now Time to Invest on the Continent - Africa Forum

The World has been called upon to realign its perceptions with the reality of Africa's renewed dynamism and improved economic performance. Ghanaian Chronicle / http://allafrica.com

G8 Investors to Compete in  Investor Index Awards

African stock exchanges have provided impressive US$ returns for investors over the last few years. As African economies rebound there is increasing interest in developing Africa's capital markets to accelerate development. Business in Africa / http://allafrica.com

US lawmakers urge global search for World Bank head

Four key U.S. congressional leaders urged the Bush administration to consider non-American candidates to head the World Bank, saying the best nominee to heal rifts at the institution could come from anywhere. africa.reuters.com

Financial Sector Reforms Give Boost to African Entrepreneurs

According to CEO of the African Management Services Company (AMSCO) Ayisi Makatiani, smaller businesses in Africa are enjoying better access to finance from banks, venture capitalists and other sources. But for these businesses to really grow into world-class organisations they will also need training and management support. Business in Africa / http://allafrica.com

Corruption, poverty rages in Africa

Widespread corruption continued to plague Africa in 2006, exacerbated by abject poverty, Amnesty International has said, singling out South Africa for its wide-spread violence against women and girls. iafrica.com

regional and country news

Customs Union a Giant Step for Region

The Common Market for East and Southern Africa (Comesa) Heads of State Summit, as anticipated, endorsed a Customs Union on Wednesday. It boldly voted to fast-track the 20-member trading bloc. The Nation / http://allafrica.com

China willing to be more constructive on Darfur - envoy

China is willing to play a more constructive role in Darfur, an envoy said, offering to provide more aid to victims of the Sudan conflict critics say Beijing has ignored. africa.reuters.com

China boosts Zambia mining investments to $900 mln

China has boosted its planned investment to $900 million in Zambia's mineral-rich Copper Belt over the next four years, the government said on Wednesday. africa.reuters.com

'Strong growth' forecast for SA

The South African seasonally adjusted leading economic indicator was reported by the South African Reserve Bank to have leapt to 121.2 for March this year — indicating strong growth ahead for the economy. iafrica.com

Rich nations worried by pace of reform in Mozambique

Aid to Mozambique would remain largely unchanged in 2008 due to the African nation's poor progress fighting corruption and implementing other reforms, a group of Western nations and donor agencies said on Thursday. africa.reuters.com

Southern Africa: Towards the SADC Free Trade Area

As the Trade Protocol of the southern African Development Community (SADC) takes effect, so customs tariffs are being removed, and as from 2008 many food imports from the region will enter Mozambique free of duty. Agencia de Informacao de Mocambique

company news

South Africa retailer in BEE deal

South African retailer Woolworths is to sell a 10% stake in the firm in a black economic empowerment deal. bbc.co.uk

Liberia: Firestone Extends Aid Shipment Program

Firestone Plantation Company has announced the extension of its shipment program to assist aid organization in the country. The Inquirer / http://allafrica.com

Liberia: Global Witness Lauds Mittal Steel, Warns Firestone

The Human Rights and Environment advocacy group, Global Witness, has lauded Mittal Steel, the world's largest steel company, for moving one step closer to living up to its corporate social responsibility by committing itself to the renegotiation of its contract with the government. The Inquirer / http://allafrica.com

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