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Africa Business Weekly
27 april 2007

the week's top 20 stories

 

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pan-African news

Africa’s Crisis of Democracy

Analysts said the Nigerian vote showed that many African voters are steadily losing confidence in their democracies. The New York Times

Merkel vows to press G8 on Africa aid pledges

Chancellor Angela Merkel, holder of the G8 presidency, said on Tuesday she would press rich nations to fulfil aid pledges to Africa made two years ago but some critics said Germany itself was a laggard. africa.reuters.com

China Pledges New Trade Incentives

China has defended its growing trade ties with Africa and spelt out new measures to further expand the scope of the cooperation. The East African Standard / http://allafrica.com

Africa lacks jobs, especially for young - report

Africa's jobless rate is nearly twice that of the rest of the world despite several years of rapid economic growth, according to a United Nations report released on Tuesday. africa.reuters.com

Brain Drain Costs Continent $4bn Anually, Says UN

United Nations Development Programme has said brain drain has cost the African continent over $4 billion in the employment of 150,000 expatriate professionals annually. This Day / http://allafrica.com

Developing countries differ at WTO farm talks

Differences emerged between developing countries on Wednesday over a key issue in World Trade Organisation (WTO) farm talks, a crucial part of struggling global free trade negotiations. africa.reuters.com

Microfinance Tackles Aids Head On

With two-thirds of the world's HIV/AIDS victims living in sub-Saharan Africa, sickness and death is too often a part of doing business in the region. But now microfinance institutions have found ways to reduce financial risk while attacking new infections. Inter Press Service / http://allafrica.com

Bioenergy Could Drive Rural Development

Top international experts met in Rome to consider the environmental and food security impact of the rapidly-expanding bioenergy industry and agreed that governments could use bioenergy as a positive force for rural development. Food and Agriculture Organization of the United Nations / http://allafrica.com

Africa makes internet strides

African and Asian nations are using the net to catch up with other industrialised nations, says a report. bbc.co.uk

Deaths from lack of sanitation in the developing world are an international scandal

Current prospects for improvements in water and sanitation provision are bleak, according to today’s report from the International Development Committee. Without concerted global action, the target seeking to halve the number of people without access to water by 2015 will be missed in Africa and on current trends the sanitation target will not be met until 2076. International Development Committee Press Release

regional and country news

EU says West Africa trade talks may stretch to 2008

The European Commission is pressing West African governments to negotiate a deal on trade before a WTO waiver on current trade perks expires on December 31, but acknowledged on Thursday a short extension may be needed. africa.reuters.com

UN lifts Liberia diamond ban

The U.N. Security Council on Friday lifted a 6-year-old ban on Liberian diamond exports aimed at stopping so-called blood diamonds -- used to finance wars in Africa -- from reaching the world market. africa.reuters.com

Zambia: 500,000 Anti-Malarial Bed Nets on the Way

The United States and the Global Business Coalition on H.I.V./AIDS, Tuberculosis and Malaria have jointly donated $2.9 million to distribute more than 500,000 insecticide-treated mosquito nets in Zambia. The nets will help protect those who sleep under them from contracting malaria, which kills up to 50,000 Zambians a year, mostly children. The nets, enough for a tenth of the country’s population, will be handed out before November, the beginning of the malaria season. The New York Times

China is Zim's biggest investor

China is now the biggest investor in Zimbabwe with at least 35 companies operating in the southern African country and more investors eyeing opportunities there, according to a top ruling party official. iafrica.com

Ghana: Ghana and China Sign Six Bilateral Pacts

Ghana and China, amidst growing bilateral, technical and economic co-operation, have signed six major agreements, including one for the construction of the Bui Hydro-Electric Dam. BuaNews / http://allafrica.com

SA begins to live the dream - Mbeki

South Africa is building the nation visualised in the consitution, Thabo Mbeki has said, with an 'exploding middle class', growing employment, as well as a 'shared patriotism' amongst businesses also contributing to the realisation of the SA dream. iafrica.com

South Africa: Biofuels vs Food Crops?

While South Africa is planning on increasing biofuels production some experts warn the move may hurt subsistence farmers and cause more hunger in impoverished areas of the country.

Uganda: Economy to Grow By 6.2 Percent - IMF

Uganda’s economy is expected to grow by 6.2% this year, up from last year's 5.4%, according to projections of the International Monetary Fund (IMF).

company news

Kenya: Shell Buys Out Partner, BP Kenya

Shell Petroleum Company has bought out its partner BP Kenya, with whom they operated a joint venture in the country, following the Government's approval.

Altech in deal to launch Africa broadband service

South African technology firm Allied Technologies (Altech) has teamed up with U.S.-based CityNet Wireless Inc. to provide broadband services in Africa, Altech said on Monday. africa.reuters.com

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