Record capital inflows boosts Africa

Africa is experiencing record levels of portfolio investments and remittances — key to the continent's ability to graduate from donor dependence, says Standard Chartered Bank. iAfrica.com

Don't neglect rest of Africa's investment upside

Private investors are in danger of neglecting investment upside in the rest of Africa because of the ingrained habit of focusing on Europe and America when pursuing international portfolio diversification. MoneyWeb

Stolen Wealth

"Corruption is bleeding Africa to death and the cost is borne by the poor. ... Much of the money is banked in Britain or our overseas territories and dependencies. ... We want our government to get tough on corruption." - Hugh Bayley, MP, Chair of the Africa All Party Parliamentary Group.  AfricaFocus / http://allafrica.com

African Countries Will Get Some Preferential Trade Access – EU

The European Union said yesterday that it would strike a balance between opening its markets and retaining preferential trade access for African countries. The Nation / http://allafrica.com

Audit shows lost Nigeria oil taxes

An audit of Nigeria's oil sector finds giant gaps between taxes paid by firms and what officials say they received.  BBC

Nigeria: Niger Delta Threat Raises Oil Prices to $70 Per Barrel

Crude oil prices yesterday notched up to about $70 per barrel after news of renewed threat by Ijaw militants to attack oil companies and production facilities in the Niger Delta sent fresh fears of supply crunch to the international oil market. The Nation / http://allafrica.com

West Africa: Oxfam Cautions On Economic Partnership Agreements

International civil society organisation, Oxfam yesterday urged West African nations not to mortgage their future by signing on to the Economic Partnership Agreements (EPAs) being negotiated with the European Union. ECOWAS must resist such measures and demand the power to negotiate what is best for the region with an eye to the future. This Day / http://allafrica.com

Southern Africa: Mogae Unhappy With Progress On EPAs

President Festus Mogae is unhappy with the pace of the on-going negotiations on the Economic Partnership Agreements (EPAs) between the European Union (EU) and the Southern African Development Community (SADC). "The EPAs are not moving fast enough for my liking," Mogae said Monday during a joint press conference with visiting German President Horst Kohler. Mmegi / The Reporter / http://allafrica.com

Kenya: Nairobi Rating Up in Leading Business Study

Nairobi has become one of the best cities in sub-Saharan Africa for international business people to live and work in, states a new study released this week. The Nation / http://allafrica.com

South Africa: Trade With India Soars

Trade between India and South Africa increased by a massive 75% between 2004 and 2005, according to the Department of Trade and Industry.  Sunday Times / http://allafrica.com

Uganda: Indians Invest Sh170b in Uganda

Indian investments in Uganda have reached sh170b in the last five years, a top Uganda Investment Authority (UIA) official said this week. New Vision / http://allafrica.com

Council for Responsible Jewellery Practices launches draft Code of Practice consultation document

The Council for Responsible Jewellery Practices (CRJP) has just released a consultation document regarding a draft Code of Practice.  Members are keen to ensure that the CRJP receives as much feedback as possible.  Council for Responsible Jewellery Practices

Second-largest public pension fund in USA to divest from companies operating in Sudan

The California State Teachers' Retirement System will sell its holdings in five foreign energy companies that do business in Sudan to protest human rights abuses in the African nation's Darfur region. Business and Human Rights Resource Centre

Virgin tackles SA through Absa

Virgin Group and Absa Group's subsidiary Absa Bank have formed a joint venture to offer Virgin Money products and services to South African consumers, the parties said on Tuesday. iAfrica.com

Nigeria: Nokia Opens Nigerian Office, Unveils Plans

Determined to show its commitment and significantly enhance its physical presence on the continent, Nokia has officially opened its office in Nigeria to serve both the country and the West African sub-region. This Day / http://allafrica.com

Nigeria: Intel Comes to Town, Sets up Office and Initiates Digital Programmes

Finally, Intel is ready to do business in Nigeria. This is after a couple of years of test-running the Nigerian business environment with only a few appointed resellers. Now, Intel Corporation has seen the big bucks that can be made from the Nigerian market and has decided to pitch tents here by opening an office in Lagos . The office will serve the entire West African region. Vanguard / http://allafrica.com

South Africa: Listed JSE May Be Tasty Prey for Global Prowlers – Analysts

Once listed on its own exchange, the JSE could be a takeover target for global exchanges hungry for new opportunities. Business Day / http://allafrica.com

South Africa: Global Insurance Giant Ace Re-Enters SA Market

Global insurance giant ACE has re-entered the South African market and plans to open its doors to new business in June.  Business Day / http://allafrica.com

South Africa: Business a Big Spender On Aids

Business has become a major player in the battle against HIV/AIDS in South Africa, which kills more than 900 people a day, The Economist magazine reported. UN Integrated Regional Information Networks / http://allafrica.com

Nigeria: Chevron Signs Historic Deal With 23 Itsekiri Communities

Chevron Nigeria Limited (CNL) introduced a new deal for oil and gas producing communities in the Niger-Delta, yesterday, with the signing of a historic Global Memorandum of Understanding (GMoU) with 23 Itsekiri oil and gas producing/impacted communities in Delta State. Vanguard / http://allafrica.com