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Africa Business Weekly
26 october 2007

the week's top 20 stories

 

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pan-African news

Flown-in organic food rule change

Food flown to the UK can be called organic but must meet stricter standards that may harm African farmers. bbc.co.uk

Zoellick wins backing for new World Bank strategy

World Bank President Robert Zoellick on Sunday won support from bank member countries for his strategy to lead the poverty-fighting institution for the next five years, including plans to give the private sector a bigger role in poor countries. africa.reuters.com

25 Countries Record Impressive Growth, Says World Bank

As the curtains were yesterday drawn on the 2007 Annual Meetings of the Boards of Governors of the World Bank and the International Monetary Fund (IMF), the bank's President, Robert Zoellick, said there was "good news" coming from Africa. This Day / http://allafrica.com

Foreign Direct Investment From Oil Companies Nits $36bn

World Investment Report 2006, has said that flow of Foreign Direct Investment (FDI) into Africa from transnational corporations (TNCs), extractive industries and development, increased to $35.5 billion in 2006 alone, from $29.6 billion in the preceding year. The figure doubled that of the FDI flow in 2004, which stood at $18 billion. This Day / http://allafrica.com

Study Explores Ways to Promote Trade Within the Commonwealth

For a number of Commonwealth countries, poor infrastructure, small size and remoteness are hindrances to trade, report says. Commonwealth News and Information Service / http://allafrica.com

How Continent Can Engage W'Bank, By Ezekwesili

Vice president of the World Bank, Africa Region, Dr. Obiageli Ezekwesili, has given tips on how the African continent can break the distrust between the continent's civil society and the poverty fighting institution. This Day / http://allafrica.com

regional and country news

Mozambique ex-leader wins prize

Mozambique's ex-President Joaquim Chissano wins the inaugural $5m Mo Ibrahim prize for African leadership. bbc.co.uk

SA 'exploiting Zimbabwe crisis'

South African firms are making good profits in Zimbabwe despite the country's economic crisis, a report says. bbc.co.uk

Kenya farmers seek to block new EU trade deal

Small scale Kenyan farmers went to court on Thursday to try to stop a controversial new trade deal with the European Union that they said perpetuated a "master-servant" relationship with their former colonisers. africa.reuters.com

East Africa: Region Seeking Protection for Their Markets

East African Community is seeking protection for its markets from full liberation for another 25 years. Business Daily / http://allafrica.com

Zambia: 'Seek Economic Freedom'

President Mwanawasa has challenged Zambians to focus their efforts on economic independence and jealously guard the peace the country is enjoying as Zambia celebrates its independence. The Times of Zambia / http://allafrica.com

Zambia says new mineral royalty won't be punitive

Zambia has engaged a team of foreign consultants to help it renegotiate mineral royalties and taxes with foreign miners, Finance Minister Ng'andu Magande said on Tuesday, adding that the new taxes would not be "punitive". africa.reuters.coms

Liberia: Country Presses for World Trade Membership

The World Trade Organization (WTO), in collaboration with the Liberian government has begun a two-day sensitization workshop to broaden the scope of government officials and the public. The News / http://allafrica.com

France's Sarkozy seals nuclear deal with Morocco

France will help Morocco build a civil nuclear energy industry to underpin its development, French President Nicolas Sarkozy said on a visit to the north African country. africa.reuters.com

Kenya: Why There Are Such Few Women Business Leaders in Kenya And What to Do About It

Are women born leaders? What does it take for a woman to make it to leadership? Do they succeed as leaders? Do women lead differently? Business Daily / http://allafrica.com

company news

China digs deeper into Africa with bank deal

China has served notice it is accelerating its investment drive in Africa towards full throttle with the planned $5.6 billion cash purchase of a major stake in Standard Bank by Beijing's biggest lender. africa.reuters.com

New eBay site helps finance poor

Ebay launches a new web site that allows people to invest in loans that lift people out of poverty. bbc.co.uk

Globacom Overtakes MTN S'Africa Market Share

U.S. and African business leaders and officials are encouraging U.S. companies to take a bolder approach to investment opportunities created by rapid economic growth in Africa. United States Department of State / http://allafrica.com

Rwanda: Libyan Firm Buys 80 Percent Stake in Telecom Firm

Government and the Libyan firm taking over Rwandatel on Friday concluded the transfer of the 80 percent stake for $100 million by signing the final agreement, RNA reports. Rwanda News Agency / http://allafrica.com

Celtel Acquires Stake in Ghanaian Firm

Celtel International has announced signing of an agreement to acquire 75 per cent of Western Telesystems Ltd (Westel) from the Ghanaian Government for $120 million. The Citizen / http://allafrica.com



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