Africa: Record-Breaking Governance Prize Launched

After a professional career spent proving that investing in Africa can be profitable, telecommunications entrepreneur Mo Ibrahim has embarked on a new task: to improve the quality of African leadership. To that end, the Mo Ibrahim Foundation announced today a $5 million annual prize for African leaders who were elected fairly, improved their country's standard of living, and handed over power peacefully to the next elected government. allafrica.com

Climate change 'hitting Africa'

Climate change is already hitting Africa and will wipe out anti-poverty efforts unless action is taken, a report says. bbc.co.uk

Africa: China, Africa to Encourage Co-Op in Private Sector

The first all-member meeting of the China-Africa Business Council was Monday held in Beijing, signaling new efforts by China and Africa to boost cooperation in the private sector. Concord Times / http://allafrica.com

Africa: Rules-Based Multilateral Trading System Vital for Developing States

A rules-based multilateral trading system is critical for the survival of small developing countries in the face of competition from larger developed states with greater economic and political clout, said Commonwealth Secretary-General Don McKinnon. Commonwealth News and Information Service / http://allafrica.com

DR Congo votes in landmark poll

Polling is under way in DR Congo's presidential run-off, seen as one of Africa's most significant elections for years. bbc.co.uk

Zambia: Oil Discovered in Northwest

President Mwanawasa yesterday announced the discovery of oil and gas in Chavuma and Zambezi districts in North-Western Province. The Times of Zambia / http://allafrica.com

South Africa: SA in Global Top Four on Budget Transparency

South Africa ranks in the top four countries worldwide in terms of the transparency surrounding its budgets, according to an international survey. BuaNews / http://allafrica.com

Nigeria: France Hails Nigeria's Economic Reforms

In recognition of the giant strides recorded in the economic reforms programme of the President Olusegun Obasanjo's administration in the last seven years, the Republic of France, through the Agence Francaise de Development (AFD), yesterday gave a grant of two million Euros (N320million) in support of research and project study on vital areas of the economy. This Day / http://allafrica.com

Southern Africa: SADC Heads of State Favour Creation of Free Trade Zone

The Heads of State and Government of the Southern African Development Community (SADC) expressed during the Extraordinary Summit held on Monday in Johannesburg (South Africa), their interest for the creation of a free trade zone between countries of the region. Angola Press Agency / http://allafrica.com

Ethiopia: FDI Flow Declines

The Foreign Direct Investment (FDI) flow to Ethiopia has declined by 62 percent, the United Nations Conference on Trade and Development (UNCTAD) said on Tuesday. The Reporter / http://allafrica.com
Ethiopia: Country Signs Investment Protection

An investment protection and promotion agreement was signed between Ethiopia and Belgium Luxemburg Economic Union, the Ministry of Foreign Affairs said. The Ethiopian Herald / http://allafrica.com

Mali: Country Approved for $461 Million Millennium Challenge

The Board of Directors of the Millennium Challenge Corporation (MCC) today approved a five-year, $460.8 million Compact to fund poverty reduction projects in the Republic of Mali. United States Millennium Challenge Corporation / http://allafrica.com

Mozambique: ADB Announces New Loans

The African Development Bank (ADB) has announced a Poverty Reduction Support Loan to Mozambique of 60 million units of account (about 88 million US dollars) intended to finance the government's Action Plan for the Reduction of Absolute Poverty (PARPA II). Agencia de Informacao de Mocambique / http://allafrica.com

Africa: Anglo American Names Cynthia Carroll as New CEO

As previously announced, Tony Trahar intends to retire as Chief Executive Officer of Anglo American plc. Cynthia Carroll, currently President Alcan Primary Metal Group, will join the Anglo American Board in mid January 2007 and will succeed Tony Trahar as Chief Executive Officer on 1 March. Anglo American PLC / http://allafrica.com

Ethiopia: Country in Disputes with Starbucks Over Coffee Trademark

US coffee chain Starbucks is denying Ethiopia earnings of up to USD 88 million a year, the charity Oxfam claimed this week. The Reporter / http://allafrica.com

Ghana: Joyce Aryee On EITI - A Tool for Development

The Ghana Chamber of Mines has described the Extractive Industries Transparency Initiative (EITI) as a tool to enhance livelihoods in mining communities, which over the last century, had been left on the back burner plunging several millions of people into abject poverty. Accra Mail / http://allafrica.com

Kenya: Safaricom in Skyhigh Growth

Low denomination scratch cards and growing subscriber base have boosted Safaricom's income levels considerably. East Africa's largest mobile phone provider, Safaricom, has made a record pre-tax profit of KES 12.2bn (US$171.5m), the highest ever in the region. Highway Africa News Agency / http://allafrica.com

Botswana: Debswana to Double Jobs in Five Years

Debswana Mining Company says it expects to double employment in five years due to the construction of new plants in Jwaneng and Orapa mines. The Voice / http://allafrica.com

South Africa: Vodacom Freed to Spread Africa Wings

In a breakthrough that will finally allow Vodacom to compete with rival MTN on the African continent, Vodacom's 50%-owner, UK-based Vodafone, has given an "in-principle" commitment to alter its shareholders' agreement to remove "impediments to Vodacom's growth".Business Day / http://allafrica.com

Uganda: Govt Seals Coffee Deal With Tata

India’s Tata Coffee, a subsidiary of the same country's steel manufacturing giant, Tata Group has signed an agreement with the Government of Uganda to establish a soluble coffee processing factory at Jinja. The Monitor / http://allafrica.com