Another satellite hmmm :cheers2:

tell them again...let them know.

Naija there is a thread for naija news only!!

Nigeria: UBA Repositions to Exploit Opportunities in Global Banking

Vanguard




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Vanguard (Lagos)

April 10, 2007
Posted to the web April 10, 2007

Peter Egwuatu
Lagos

Spurred by the vision to be Africa's largest financial institutions with global footprints, United Bank for Africa (UBA) Plc has begun moves to open branches in the diaspora. Vanguard learnt that plans are underway for the bank to open branches in Japan and United Kingdom.

It was also gathered that the bank, which is currently in the capital market to source funds for further expansion, plans to use the proceeds to penetrate into the global banking terrain through international expansion as well as deploying better channels of service delivery to its customers.

Other purpose of the offer is aimed at financing further upgrade of its existing branch network, and taking advantage of opportunistic acquisitions.

Speaking to Vanguard, Mr. Sonnie Ayere, MD/CEO, UBA Global Markets, said that UBA Plc has excellently performed well since it successfully integrated its businesses and operations with that of the erstwhile Standard Trust Bank and Continental Trust Bank.

According to him, "UBA's first quarter 2007 results to December 31, 2006 showed that its gross earnings climbed 27.01 per cent to before and after tax increased by 140.91 per cent and 136.84 per cent to N5.30 billion (2006: N2.2billion). In view of this results, UBA noted an adjusted first quarter Earning Per Share (EPS) of N0.53 (2006: n0.37) and net profit margin of 20.4 per cent. (2006: 16.5 per cent).

He stated that although the bank's cost to income ratio, which shows how costs changed in comparison to income, climbed from 75.01 per cent in 2005 to 85.84 per cent in 2006, the ratio improved by first quarter 2007, declining to 76.02 per cent from 87.36 percent noted for first quarter 2006.

"Meanwhile, in 2006, while EPS for the quarter also increased by 97.37 per cent to N0.53 from N0.27 in 2006", he added.

While throwing light on some of the key investment highlights of the bank, Ayere said that UBA deposit base grew 278.40 per cent from N205.11 billion in 2005 to N776.14 billion in 2006, driven by the significant increase in its branch network.

According to him, "The branch network, which currently stands at about 500 and strategically located across the nation, confers upon it huge prospects to benefit from the rapidly increasing population and the significant growth potential of the Nigerian banking industry".

Nigeria: Oceanic Bank Posts N10 Billion Profit in Six Month

Daily Trust




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Daily Trust (Abuja)

April 9, 2007
Posted to the web April 9, 2007

Bright Ewulu
Lagos

Oceanic Bank International Plc has posted a profit of N10 billion in the first six months of operations in its 2006/2007 financial year. The bank's earning also increased by 56 per cent to N27.8 billion.

According to the bank's second quarter report which was obtained by Business Trust in Lagos, it recorded an increase in the gross earnings from N17.9 billion to N27.8 billion, while its profit before tax (PBT) also increased by 54 per cent, from N6.2 billion to N9.57 billion.

"Capital market analysts believe the results would further heighten investors' interest in the bank's ongoing public offer, which is expected to close on April 13," a statement from the bank said.

The bank is currently in the market selling a total of 3.4 billion units of its shares at a discount rate of N16.50. The bank's stock currently sells for N19.53 on the floor of the Nigerian Stock Exchange (NSE).

The Offer, expected to increase the bank's shareholders funds by N55.4 billion to the threshold of over N100 billion, is being undertaken to give investors opportunity of being part of the bank, increase the bank's capital base and also increase its branch network locally and offshore.

Meanwhile the bank has projected a profit of N18.9 billion in 2007, N24.9 billion in 2008 and N28.6 billion in 2009. The bank also projected a dividend of 56 kobo in 2007, 58 kobo in 2008 and 67 kobo in 2009.

this is huge for a bank in six months....they did pretty good.

Naija, this is an advice, Post nigerian related new in the nigerian news thread...
Take time to organise your article and put the title in bold and main article in quotes...

Rwanda: Rwanda To Export ICT to US

The New Times




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The New Times (Kigali)

April 4, 2007
Posted to the web April 7, 2007

Innocent Gahigana
Kigali

Rwanda is set to export Information, Communication and Technology (ICT) programmes to manufacturing companies in the United States.Dr Raphael Mmasi, the Director of National Computing Centre (NCC) of Rwanda Information and Technology Authority (RITA) unveiled to The New Times, the Computer Aid Design (CAD) of three dimensions (3D) as anticipated ICT package for export.

"The 3D graphic drawing computer system will help manufacturing companies in US and around the world streamline product development, cut costs and re-use design data," said Mmasi.

Nigeria: CBN Commissions Fitch to Rate Banks

This Day




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This Day (Lagos)

April 9, 2007
Posted to the web April 9, 2007

Ayodele Aminu
Lagos

The Central Bank of Nigeria (CBN) has commissioned Fitch Ratings, one of world's foremost rating agencies, to access the performance of Nigerian banks relative to their foreign counterparts.

Already, Fitch has commenced discussion with some banks but THISDAY, however, gathered that the rating is voluntary.

International credit ratings are usually reflective of an entity's relative risk through an expected normal economic cycle. The rating of Nigerian banks, thus, is affected by the country's risk rating.

Fitch has, so far, rated about four banks in the country based on international best practices, and these banks were assigned the same rating, a notch below the sovereign rating assigned Nigeria

Naija , why don´t you post the Nigerian related business news into the Nigerian thread?

dats cuz africa IS shit..HA!

i think you are in africa now,and why is africa shit?where are from-hell.

http://www.heartofafrica.com/images/419%20is%20not%20our%20label.jpg

True Talk!!

Botswana: AB Increase Flights for Tourist Traffic

The Voice (Francistown)

April 10, 2007
Posted to the web April 10, 2007


Air Botswana has increased its flight schedules between Johannesburg and Maun to cater for tourists destined for the northern part of the country.

The flights, according to Air Botswana Chief Executive officer Lance Brogden, have been increased to five times a week between Johannesburg and Maun. Brogden said extra flights are operated daily except on Tuesdays and Thursdays by ATR 42-500 turbo propeller aircraft. The flight schedules are in addition to the daily service carried out through the week on the same route by BA e-146 jet aircraft. "The timing of the two services are staggered in the morning and afternoon, to give passengers more travel options in both directions," he said.

Brogden said passengers arriving in Johannesburg on long haul flights readily transfer on board Air Botswana services for their onward flight to Maun, gateway to the great Okavango Delta. He added that to cater for tourist traffic, Air Botswana has also increased flight services between Gaborone and Kasane, which he said has been boasted with a third flight every Tuesday.

"Air Botswana operates multiple flights daily between Gaborone and Johannesburg, totaling 27 services a week, in both directions. The airline maintains its Gaborone-Harare services three times a week, and domestically operates from Gaborone to Francistown and Maun to Kasane," he said.

However, Brogden said sustained low traffic has necessitated the suspension of the Maun-Cape Town, Francistown-Johannesburg, Gaborone-Lanseria and Maun-Kasane services. "We are mindful of our responsibilities as the national carrier to provide quality domestic services, as well as to operate in full support to business and tourism sectors. We have persevered with marginal routes in the interest of serving the traveling public, but the reality is that with all the will in the world, it is not possible to sustain services that are not viable," said Brogden.

Meanwhile, Air Botswana has warned that effective this past Monday (April 2), passengers on international flights out of South Africa must comply with strict new controls on the carrying of liquids, aerosols and gels. The warning further states that these items must now be carried in containers with a capacity of not more than 100 ml each. The lower volumes will no longer be carried in part filled containers larger than 100ml. They must be carried in transparent re-sealable plastic bags not more than 1litre.

http://allafrica.com/stories/200704100496.html

Namibia: Nedbank Namibia Gets New Deputy MD

New Era (Windhoek)

April 10, 2007
Posted to the web April 10, 2007

Staff Reporter
Windhoek

Erastus Hoveka, previously chief financial officer of the Development Bank of Namibia, has been appointed deputy managing director of Nedbank Namibia, says a statement from the bank.

Advocate Theo Frank, chairman of Nedbank Namibia, said the appointment concluded a comprehensive search for a Namibian citizen to help lead the bank on its growth path.

"Nedbank Namibia has a continuing initiative to innovate and to extend our footprint and bring banking and financial services closer to more citizens of Namibia," he said. "Our N$4 million expansion programme for 2006 saw branch openings at Oshikango, Kuisebmond, Walvis Bay and at Maerua Mall in Windhoek.

"As part of our future growth strategy, we will be investing a further N$7 million in the next phase of our expansion programme."

Advocate Frank said Hoveka, who joined the bank in April, would pilot this growth strategy. He will support the current managing director, Bill Turton, who has been assigned on a temporary basis from South Africa.

Hoveka, 38, matriculated from Shifidi High School, Katutura, is an MBA graduate of Bradley University in Peoria, Illinois, in the United States. He gained his Bachelor's degree in accounting cum laude from Bradley University and also holds a United States Certified Public Accountant qualification.

After graduating, he spent five years with the Simon Property Group, one of the largest US property companies, as an accountant before returning to Namibia in 1999. He was company management accountant at Telecom Namibia, senior manager: corporate finance at Air Namibia, and general manager: finance at the National Housing Enterprise before becoming a founding member of management at the Development Bank of Namibia.

Hoveka is one of nine members selected from around the world to the finance commission of the International Federation of the Red Cross and Red Crescent Societies. He is a director and treasurer of the Namibian Red Cross Society and chairman of the audit committee of the Namibian Government Institutions Pension Fund, the country's largest pension fund.

He is also a trustee of the Housing Trust of Namibia and a director of Ongopolo Mine, owned by Weatherly International, a London-listed company.

http://allafrica.com/stories/200704100310.html

Nigerian minister named World Bank vice president

Sat Mar 24, 8:19 AM ET

WASHINGTON (AFP) -
World Bank President Paul Wolfowitz has announced the appointment of Obiageli "Oby" Ezekwesili, formerly education minister in Nigeria, as vice president of the bank for the African region.

"Oby's life is a testament to her dedication to Africa as is the high degree of respect in which she is held by the international community," Wolfowitz said in a statement Friday. "Her passion for and commitment to Africa, high degree of integrity and optimism will bring invaluable strengths to our organization."

Ezekwesili was one of the founding members of Transparency International, an organization dedicated to fighting corruption.

She also served as special assistant to the president of Nigeria on budget monitoring.

Ezekwesili subsequently served as minister of solid minerals development, a post where she concentrated on reforming Nigeria's mining sector to internationally recognized standards.

She was appointed minister of education last June.

"Oby's unique blend of first-hand experiences, especially in the more challenging and complex areas of energy sector reform and education, position her as the ideal candidate to serve as the vice president for Africa," Wolfowitz added.

The World Bank lends about 4.7 billion dollars a year to African countries.

Botswana: KBL Prepares for Co2 Region-Wide Shortages

Mmegi/The Reporter (Gaborone)

April 5, 2007
Posted to the web April 9, 2007


Where other breweries opted to cut down on the production of fizzy drinks due to widespread shortages of carbon dioxide (CO2) in southern Africa, Kgalagadi Breweries Limited (KBL) has decided to beef up self-generation of the gas to mitigate the undersupply of the gas.

The shortage of CO2 - a key ingredient in popular fizzy drinks and to a smaller degree in beer - started late last year, forcing SAB Miller, the parent company to KBL, to invest R100 million (about P86 million) in efforts to build capacity.

Corporate Affairs Director at KBL Percy Raditladi said that instead of cutting production levels when the shortages hit the region, his company decided to generate its own CO2.

Raditladi said they harvest a little from the fermentation process of their beer, which he said though it is not sufficient, reduces the amount they have to purchase from South Africa quite considerably.

He said the measure is meant to make up the shortfall in the amount needed in the production line, especially for Carbonated Soft Drinks (CSDs).

Raditladi added that they have also expanded their CO2 storage capacity as a buffer for instances when there are delayed deliveries from South Africa.

These measures have complemented each other to ensure that KBL production was never seriously affected since the shortages started last year.

He added that they have never run out of stock on the shelves.

KBL is supplied by Afrox with CO2, but the brewery has occasionally had to reschedule its packaging programme owing to delayed deliveries.

"But rescheduling a packaging programme does not necessarily result in market stock-outs because we always have extra stock in our warehouses and depots," he said, eager to re-assure consumers.

He said that late deliveries of CO2 normally impact on KBL's packaging programme by a day or two only.

KBL produces many CSDs of the Coca Cola brand under licence. Alcoholic beverages like the 200ml Schweppes, Minute Maid, Powerade, Miller Genuine Draught, Peroni, Amstel, Castle Light Savanna and Smirnoff Spin are imported.

http://allafrica.com/stories/200704091251.html

Swaziland: Economic Decline As Investors Spurn Kingdom

UN Integrated Regional Information Networks

April 6, 2007
Posted to the web April 6, 2007

Mbabane

Lack of natural resources is a major factor responsible for Swaziland's continuing low economic performance, according to a United Nations Development Programme report released this week.

Ranking African nations on the basis of their economic growth, the study found oil-rich Mauritania the regional leader with 19.4 percent growth, followed by mineral-rich Angola performing at an enviable 17.6 percent.

Swaziland's growth of about 2 percent comes at a time when a once-thriving mining sector has dwindled to just two activities: a small, opencast quarry stone operation in the central Manzini region that is used to excavate gravel for local road construction, and a coal mine in the eastern Lubombo region.

The coal, which is all shipped to South Africa, is the only mineral resource exported today from a country that once produced gold, tin, iron ore and until the 1990s diamonds.

Comoros, Ivory Coast and the Seychelles join Swaziland at the bottom of the economic performance study, while crisis-wracked Zimbabwe, once a haven of stability, is ranked as the worst performer.

An economist attached to the local branch of a South African bank commented; "Swaziland's problem is not a lack of natural resources, but an inability to attract foreign direct investment, which creates a cycle of unemployment where job skills can never be mastered."

He said that the growth of a skilled workforce is hobbled by a lack of opportunities for employment, which consequently limits on the job training and skills development. As a result, only industries like garments and textiles have located in Swaziland, because they require untrained or minimally-trained workers.

"Natural resources can be exhausted, and while they can be good in the short term, creating wealth in say Botswana with that country's diamonds, world commodity prices and supply demands can make this a precarious basis for a national economy," he said.

Swaziland is a land-locked country highly dependent on neighbouring South Africa, with 80 percent of its people engaged in subsistence agriculture on crown-owned land. Overgrazing, soil depletion and successive years of drought have left around a quarter of the population dependent on food aid since 2002.

HIV/AIDS has had a devastating humanitarian and economic impact. The country has the world's worst prevalence rate, with roughly 40 percent of Swazi adults HIV positive.

Rising agitation around political reform, in what is sub-Saharan Africa's last absolute monarchy, has also had an impact on investments.

As an inducement to foreign investors, the Swaziland Attorney General's Office this week released a draft Employment Bill 2007 that seeks to guard workers rights while making the country attractive to new businesses.

Commissioner of Labour Jinnoh Nkambule offered a glimpse of the bill's philosophy when he told a press conference, "In the highly globalised world we live in, employers cannot sustain production if the labour factor is too costly and is not compensating through commensurate productivity levels."

http://allafrica.com/stories/200704060684.html

Nigeria: CTO 2007 - When Banking Romances Technology

This Day




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This Day (Lagos)

OPINION
April 11, 2007
Posted to the web April 12, 2007

James Eze
Lagos

It began a little over a decade ago as a forum for the exhibition of US technology products in Africa's largest market. Today, it is more than a technology fair. Yet, it is not likely that when the Commercial Service section of the US Embassy decided to host CTO, an annual fair for IT products, in Lagos, it envisaged the level of interest the fair has generated over time, even from unrelated quarters.

It is indeed remarkable how CTO has steadily grown from an all ICT affair to a key commercial event in Nigeria's economic calendar, attracting diverse businesses to underscore its relevance to the local economy. A most interesting side to the CTO is the increasing interest of banks in the fair as shown by the increase in the number of participating banks each year. Consummate players like UBA, Zenith Bank and Fidelity Bank made notable showings at the 2006 edition of the fair. Of special interest is the over-awing presence of Zenith Bank at the fair, right from its imposing pavilion to the special seminar that holds a mass appeal for the Nigerian youth.

Would you please post in the Nigerian Thread...

Would you please post in the Nigerian Thread...

Luxury hotels emerge in post-peace Sudan


April 12, 2007 (KHARTOUM) — Smooth marble floors and elegant wooden furniture adorn the entrance halls of Khartoum’s brand new luxury hotels, promising weary visitors a fresh welcome to the country emerging from years of civil war.

After a north-south peace deal in January 2005 ended Africa’s longest civil war, investors cautiously began to visit bringing promises of cash, development and services.

And one service this capital city needed was hotels. Add a massive U.N. peacekeeping mission, the world’s largest aid operation, rapidly expanding embassies and returning diaspora and suddenly Khartoum’s old, dilapidated hotels found themselves double-, even triple-booked.

"People are paying five-star prices for two-star hotels," said businessman Hatim Awadallah. "We were paying those prices because we didn’t have a choice."

In the 1990s, Sudan’s occasional visitors had a limited choice of hotels to seek refuge from the dust and searing sun. Khartoum’s Hilton hotel, magnificent when it opened 30 years ago, sat empty for years as a hardline government took Sudan down the road of isolationism and international sanctions.

After the 2005 peace deal, despite a separate and ongoing conflict in the remote western Darfur region, investors are lured by the promise of the end of the war in the south, where most of Sudan’s over 500,000 barrels per day of oil is produced.

Since then, a dozen mid-level two- or three-star hotels have opened. But the major battle promises to be in the five-star category as Khartoum’s slightly shabby, landmark hotels find new competition entering the market.

FULLY BOOKED

While for more than a decade the Hilton was the only top brand hotel in the country, Rotana from Saudi Arabia opened a branch in February and later this year Maltese Corinthia will open a top-end hotel complex on the banks of the Nile.

Despite its awkward location — surrounded by building sites and in the middle of Khartoum’s largest road — the Rotana has been fully booked since opening.

Sunbathers may be disturbed by low-flying planes over its outdoor swimming pool as it lies on the busy airport approach. And so far only government ministers seem to be among the few able to afford the health club charges of $100 a day.

But the hotel is confident it will remain full even after its opening discount rate expires. The night rate is $325, against nearer $200 per night for the Hilton.

"Ours is the first (such) hotel to open since 30 years ago," manager Mohamed Ali said. "It’s a new building, new furniture. The city needs this hotel and maybe another two (such) hotels."

Khartoum’s older top-end hotels say there’s plenty of business to go around. They also say the new hotels may have problems finding the quality staff they have spent years training because new arrivals are entering a service industry starting almost from scratch.

"Anyone can build a beautiful hotel but it’s the operation, the management, the service which will determine whether the guest will stay there or not," said Hilton manager Pieter Stapel.

GIFT FROM GADDAFI

The Hilton, 51 percent owned by the Sudanese government, hosts most presidential and ministerial visits. The Corinthia-operated Burj el-Fatih hotel said it was targeting those governmental delegations due to its proximity to a major conference venue, the Friendship Hall.

Sudan in 2006 hosted three major summits as well as other smaller ones. The Arab League, African Union and the African Caribbean Pacific organisations all engulfed Khartoum with thousands of delegates demanding first class hotel service.

Corinthia’s hotel, funded by Libyan leader Muammar Gaddafi’s government, had hoped to be ready for those summits but its unusual design caused technical problems that delayed the opening.

A Maltese architect won a competition to design the hotel, which is in the shape of a boat with a full sail as it sits on the convergence of the two Nile rivers.

Gaddafi has spared no expense with panoramic glass elevators, tennis courts, an outdoor and indoor swimming pool and a Turkish bath.

"We are targeting that we will be the best, something new in Sudan," said project manager Emhemmed Ghula. "This was not just about investment, but more of a present from Libya."

(Reuters)

..Kenya searches for tractor manufacturing partner

Written by Jim Onyango

Kenya is shopping for an established tractor maker to partner it in a venture that will yield the first locally manufactured heavy duty tractors by the end of the year.

This could be a big step toward industrialisation in line with the Vision 2030 which seeks to make the country an economic powerhouse, with manufacturing as its main pillar.

The manufacture of tractors in Kenya is considered a key ingredient to boosting agriculture production, in a country that relies on imported heavy duty tractors for the sector.

The government is positioning the idle multi-million shilling Numeric Machining Complex (NMC) plant based at the Kenya Railways Central Workshop in Nairobi to make tractors for local use and for export within the Common Market for Eastern and Southern Africa (Comesa) region. The Ministry of Trade and Industry last week held a workshop with industrial giants East Africa Breweries, Coca Cola, Magadi Soda and others to map out strategies for strengthening the Numeric Machining Complex.

The meeting followed a recommendation by the Ministry of Finance that funds should be injected into NMC terming it as a high potential industrial machinery capable of mass production of metallic components.

If revived, Kenya could be the first country in East and Central Africa to manufacture tractors for farm use and for transporting sugarcane. “Something interesting is happening, you will see positive changes, at the Complex, it’s a government initiative,’’the NMC general manager Mr Michael Thubi told Business Daily in a telephone interview. He declined to say which international tractor maker the government was in talks with despite continued speculation that it a conglomerate from India was lined up to take the plant into its next most ambitious venture.

Last week, Trade and Industry minister, Dr Mukhisa Kituyi announced that the government was keen to revive the NMC car manufacturing plant and to use it to produce tractors and industrial machines.


Numeric Machining Complex (NMC), was started as a car project in the 1980s by former President Daniel arap Moi but was unsuccessful.

But due to lack of funds to install engine moulding facilities, the Nyayo Pioneer Car initiative was not moved to the industrialisation phase to manufacture cars for local use and for exports.

NMC is under tripartite ownership of the Kenya Railways, the University of Nairobi and the government, which owns minority shares. The plant currently manufactures spare parts for Peugeot 404 cars commonly used in as taxis.

The plant also makes parts for industrial machines. NMC manufactures machine components for corporate clients such as Kenya Railways, Kenya Ports Authority, Uganda Railways, Bamburi Portland Cement, Central Glass Industries, Bata Shoe Company among others.

According to Central Bureau of Statistics, production of locally assembled vehicles has not recorded much growth in the last three years. The country produced 4,085 assembled vehicles in 2003 compared to 5,380 vehicles in 2006.

General Motors managing director, William Lay has attributed the slow sale of locally assembled vehicles to the liberalisation of the motor vehicle sector which allows dealers to bring in second hand vehicles at low cost from Japan.

Southern Africa looks more western than West Africa.

Nigerians abroad remit $7.7 billion in 2006

THE Central Bank of Nigeria (CBN) has disclosed that last year remittances by Nigerians in diaspora back home hit US$7.7 billion.


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The apex bank also indicated its readiness to surrender its head office in Abuja to the African Central Bank (ACB) anytime the African Union approves the take-off of the continental bank.

CBN governor, Chukwuma Soludo, stated these yesterday in Abuja at the quarterly economic forum chaired by President Olusegun Obasanjo. Soludo said that it was only a matter of time for the CBN to become only a branch of the ACB.

He said that the bank was working toward the internationalisation of the naira and that already, the currency, which had remained stable for months now, was being traded in the international money market.

Soludo said that overseas remittances from Nigerians abroad went up to 7.7 billion dollars last year, an amount that was higher the GDP of 29 of the 53 countries in Africa.

Soludo said that the CBN was also planning to establish an international financial centre in the Lekki peninsula of Lagos and that the centre would be in the mould of similar centres in Dubai and Singapore.

He said that for the country to join the league of 11 countries in the world that had been projected to be among developed countries by the year 2025, it must record an annual growth rate of 12.5 per cent.

He said that it was possible for the country to attain that level because only 40 per cent of its arable land was under cultivation and it was also blessed with many more human and material resources that were still untapped.

"We do not have the luxury of a gradual approach; we need a quantum leap to be there,'' he said, adding that the country was already preparing to work so hard to be able to join the league of emerging developed economies by 2020.

Soludo added that with the national gross domestic rising up to 145 million dollars the country was now at par with Chile and Malaysia, although with higher population.

He said that the country's per capita income had gone up to 1,000 dollars, the level it was in 1980, noting that a lot still needed to be done to further improve on the figure.

In her presentation, the Minister of Finance, Mrs. Nenadi Usman, said that the country had completely exited both the London and Paris club debts and was now left with the domestic debt.

She said that the domestic debts included pension arrears of N75 billion and a local contractors' debt of N300 billion.

She said that bonds were issued to liquidate the outstanding pensions and that those being owed were now receiving their cheque.

In his comment on the presentations, Obasanjo said that the forum would review the NEEDS1 document.

He noted that the implementation was being rounded off while the focus would now shift to the NEEDS 2 document to be implemented by the incoming administration.

Kenya touted as ‘Africa Tiger’


Story by KEVIN J KELLEY, in New York
Publication Date: 4/6/2007

An influential American columnist is touting Kenya as a potential “economic ‘Africa Tiger.’”

Writing from Nairobi in Wednesday’s New York Times, Thomas Friedman describes the KenCall international call centre as the type of high-tech venture that could help propel Kenya toward an economic breakthrough.

Mr Friedman’s upbeat assessment is likely to spur greater interest in Kenya among Wall Street investors and US corporate decision-makers.

“KenCall is one small reason that Kenya’s economy grew 6 per cent last year,” Mr Friedman observes.

He sees the company’s success as an indication that Kenya’s “democratically elected Government...is learning to get out of the way of Kenya’s entrepreneurs.”

“It’s way too early to declare Kenya an economic ‘African Tiger’, but something is stirring here that bears watching – and KenCall is emblematic of it,” adds Mr Friedman, a three-time winner of the most prestigious US journalism prize.

He says KenCall and other internet-dependent businesses in Kenya have benefited greatly from the Government’s decision to break up the State telephone monopoly and open competition for high-speed internet connections via satellite.

“The Kenyan Government is now working feverishly to get connected to the global fibre optic network via an undersea cable,” Mr Friedman writes.

Reduce internet

He suggests this form of linkage would sharply reduce internet costs in Kenya and make the country much more attractive to American and European firms seeking inexpensive venues for computing and customer-service operations.

“For an economy dependent on coffee, safaris and flowers, this is a real change of pace,” Mr Friedman says.

He notes that KenCall’s employees can make in one month what half of Kenya’s population earns in one year: about $350.

“Don’t give up on Africa,” Mr Friedman tells his readers adding “KenCall is a reminder that with a little less Government regulation, a little more democracy and a lot more bandwidth, African entrepreneurs can play this game too.”

Southern Africa looks more western than West Africa.
you would never know cos u've not been there.:banana:

Despite conflict,Sudan attract investors


TEXT OF STORY

TESS VIGELAND: Today,Sudan agreed to accept 3,000 peacekeeping troops in Darfur. Washington isn't entirely happy with the development, because there's still no decision on who will take charge of the predominantly African force.

More than 200,000 people have been slaughtered in Darfur. Another two and a half million displaced. Since 1997, Sudan has been subject to U.S. economic sanctions. And there are threats of stiffer penalties. But Gretchen Wilson reports there's no shortage of investors in the local economy.


GRETCHEN WILSON: On this dusty stretch of land between the Blue and White Niles, all I see is red earth. But in an air-conditioned trailer a few yards away, Amir Diglal of the Alsunut Development Company says I just need to look harder.

AMIR DIGLAL: You could see that, according to the master plan here, the golf course is just nearby to the Alsunut forest.

Wait a minute. Back up.

[SOUND: Tape rewinding]

Golf course? In Sudan?

DIGLAL: This is where you could just have all the . . . this, like a Tiger Wood and a . . . with the famous people around the world, they come and play on it.

Yep, Sudan's planning its first golf course, part of a $4.5 billion development here. What gets lost in media coverage about Sudan is the huge economic story happening here.

Most people have heard the horror stories about Darfur — the killings and full villages on the run. Key reasons why North American and European companies have largely quit doing business here.

But rather than buckling under U.S.-led sanctions, Sudan looked around for a new economic formula.

ABDUL-RAHIM HAMDI: We have reoriented our trade and investment policies to the East, and not to the West. Because the West has largely shunned our country.

Abdul-Rahim Hamdi is Sudan's former finance minister, and an architect of Sudan's economic program. Now, instead of doing business with the U.S., it's doing phenomenal business with China, India, Malaysia and the Persian Gulf.

HAMDI: First of all, they don't meddle into our internal affairs. In any way. No issues about human rights. They don't go out and try to impose sanctions in Geneva, or in United Nations, and so on — and brand us as a rogue country.

Sudan's oil boom has made it one of the world's fastest-growing economies. Direct foreign investment topped $3.8 billion in 2005, and GDP has doubled in the last three years alone.

China is now Sudan's biggest trade partner. In the last decade, it's locked a 40 percent stake in the oil industry. It also loans Sudan money at attractive terms.

No surprise, then, it wins multimillion-dollar contracts to develop pipelines and dams.

WONG JIONG: Sudan has become a very, very important market for Chinese manufacturer.

Wong Jiong's company makes heavy machinery used to build roads and bridges. Today, he meets prospective buyers at a trendy outdoor cafe.

Wong understands the reasons behind U.S. sanctions. But he and other investors told me they're not sure they even trust the West's view of what's happening in Darfur. All the more reason to develop clients in a fast-growing market, while pouring cash into a nation in need of development.

JIONG: The most important thing for Chinese manufacturer is how we can go into this market as quick as possible. Because if we go to a market slowly, maybe the competitor from America and European countries will go in.



But of course, it's not just China pouring money into Sudan.

INTERNATIONAL BUSINESS PEOPLE: "The profit in Sudan is very high." "There's a very big opportunity here." "The economy here is booming."

India, Malaysia and many other nations are all securing major oil construction and transport contracts. And some fear that Sudan's economic success will bolster the resolve of other regimes the U.S. doesn't like.

But investment here's not gonna stop any time soon, as emerging economies jockey for natural resources.

Ross Herbert is with the South African Institute of International Affairs.

ROSS HERBERT: Heretofore, the economic center of the world was somewhere between United States and Europe. And that center of gravity is shifting. So, what's happening in Africa is a manifestation of that competition.

The U.S. and its allies want U.N. troops to take over peacekeeping in Darfur. But the emerging face of the global economy means there's less of a reason for the government of Sudan to take note.

In Khartoum, Sudan, I'm Gretchen Wilson for Marketplace.

Russian firm in major investment in Kenya

By Washington Gikunju

Renaissance Group, a financial services giant operating in Russia and Central Asia, plans to invest millions of dollars in Kenya to set up a hub for operations in East Africa.

The plan has kicked off with the creation of a local subsidiary for Renaissance Capital, the Group’s investment banking arm. Mr Neil Harvey, deputy Chief Operating Officer of Renaissance Capital, is currently in the country seeing to the final arrangements.

In an interview with The Standard, Harvey said the bank’s plans to become a leading financial services provider in sub-Saharan Africa.

"We intend to venture also into merchant banking, investment management and consumer finance," he said. "Our meetings with the regulatory authorities have so far been encouraging and we hope to get the necessary licenses in due course."

The investment in Kenya is part of the multinational’s plans to break into the African market, with Nairobi as its regional headquarters in East Africa and Lagos, Nigeria, its base for West Africa.

The private bank, estimated to have a market value of between $7 billion to $10 billion (over Sh700 billion) is set to turn the heat on local financial market players as it acquires more regulatory licenses to operate other services.

For starters, Harvey confirmed, the firm has put in a bid for the stockbrokerage licence of Francis Thuo & Partners, currently under Nairobi Stock Exchange (NSE) statutory management. This would allow the company to trade in securities at the bourse where there has been a freeze on the licensing of new stockbrokers due to the limited size of the market.

Mr Amish Gupta, formerly head of CFC Financial Services, has been appointed the managing director of the investment bank subsidiary, Renaissance Capital Kenya. Mr Robert Bunyi has been appointed vice president for equity research in East Africa.

The Renaissance Group is a leading private investment bank operating mainly in Russia and the Commonwealth of Independent States (CIS). It was founded in 1995 and is owned by about 170 shareholders comprising of its management and employees.

Renaissance Capital specialises in investing in high opportunity emerging markets and has already invested over $16 million (about Sh1 billion) in Nigeria.

"We specialise in emerging markets. That is why we will be concentrating on sub-Saharan Africa," said Harvey.

Mr Andrew Cornthwaite, Renaissance Capital managing director and head of investment banking and finance, said that Kenya was chosen as the East African regional headquarters owing to its relative political stability, infrastructure and the recent economic turnaround.

"In addition to investing millions of dollars of our own money, we will also acting as intermediaries for international institutional investors who have shown a lot of interest in investing in the Kenyan market," he said.

Renaissance Capital Ltd is a member of the London Stock Exchange and the National Association of Securities Dealers of the US.

Other subsidiaries in the financial services Group include Renaissance Investment Management, Renaissance Partners (merchant banking) and Renaissance Consumer Finance.

ALGERIA BIGEST PROJECT (up date /or add project )

ALGERIA bigest project (project will be done 2009-2010
1 algeria 11 billions $ highway ( post thread )
http://www.skyscrapercity.com/showthread.php?p=12252533
2 algeria railway upgrade 5 billions $
http://www.skyscrapercity.com/showthread.php?t=453090
3 subway algiers amount ?? (over billion $ ) project was delay in late 80 and 90 for economic raison and situation in algeria 90
post thread with map and some pic off project
http://www.skyscrapercity.com/showthread.php?t=446108
4 algiers water desalination (bigest africa ) 270 millions &
http://utility.seekingalpha.com/article/27951
algeria plan to have 43 water desalination by 2019

1 algeria 11 billions $ highway ( post thread )
http://www.skyscrapercity.com/showthread.php?p=12252533
2 algeria railway upgrade 5 billions $
http://www.skyscrapercity.com/showthread.php?t=453090
3 subway algiers amount ?? (over billion $ ) project was delay in late 80 and 90 for economic raison and situation in algeria 90
post thread with map and some pic off project
http://www.skyscrapercity.com/showthread.php?t=446108
4 algiers water desalination (bigest africa ) 270 millions &
http://utility.seekingalpha.com/article/27951
5 The Largest Aluminium Complex 5 billions $
The largest-ever foreign direct investment (FDI) deal for Algeria was signed last week, worth $5bn, for a project to build the biggest aluminium plant in North Africa. The plant is expected to have a capacity of 700,000 tonnes per year, to employ 10,000 workers during its construction and another 2500 once operational.
other link bigest fdi algeria
http://www.mubadala.ae/en/content/press_87.asp

the Tramway (at the end of 2008) for ALGIERS, ORAN, Constantine
* Manufacturing unit of Microsatellites (At the beginning of 2007)

SUBWAY of Algiers (September 2008) *
Three lines at high speed (LGV) will be carried out in Algeria from here (2009) * the reorganization of Etusa
* the realization of 3 new cable cars (2009) and the rehabilitation of 4 what exists as well as the refitting of the roadway system. *
Electrification and of modernization of the railway ways, 500 billion dinars
* 1 Aluminium Factory signal 5 world * 1 Factory Fertial Ferphos signal 5 world
* 3 Factories of Helium nitrogenizes liquid signal 5 world
* 1 paper Factory signal 5 world
* 1 Airport signal 10 World (and other A To come)
* 1 Factory of glass signal 12 world
http://www.skyscrapercity.com/showth...hlight=algiers
* 3 cities in constructions + Project (Boughezoul + Ghardaia + Sidi abdellah + Hassi Messaoud
*construction 4 technologie park park
http://www.unido.org/en/doc/26090
http://www.algierscyberpark.com/rend...elPath=English
* CHU of larger Oran and more modern hospital of AFRICA
* Hotels of Marriott Luxury + Sheraton Hassi Messaoud
http://www.ansa.it/ansamed/news/nati...434246821.html
* Tourism: ACCORD(Hotel IBIS and Mercure) 36 Hotels, Spain will build 120 000 Beds, Sidar 20 000 Beds etc...
* 1 Crossroads in enormous Algiers and 1 with Oran
* Greater center of part spare from the Maghreb and the Arab world Peugeot part in Algiers 14 000 m² (Opening on January 23, 2006)
* SAIDAL (larger pharmaceutical company of the Maghreb)
* Enormous building site MAO (Is necessary to see it to believe in it so much C gigantic)
* bigest mosque of the world after the mecque one (SUBLIME).
http://www.newswire.ca/en/releases/a.../03/c9760.html
http://www.skyscrapercity.com/showth...tallest+mosque
* East-West MOTORWAY of 1216 km, will connect the 20 more important towns of Algeria. Composed of 57 exits, of 60 stations toll, 35 rest areas, the installation of 70 service stations, 70 stores and great surfaces, 70 restaurants, and around fifty of hotels... The LARGEST COMPANIES of the World are occupied of its REALIZATION. Remain A can meadows 900km has to realize. COût of the project 6,378 billion dollars (it is the largest ds project the field of the public works
FIRST IN AFRICA
28 October 2006
The Algerian National Railways (SNTF) have contracted Nortel to equip the El Gourzi-Touggourt line (418km) with GSMR wireless communication. It will be first application of this technology on an African railway

5 The Largest Aluminium Complex 5 billions $
The largest-ever foreign direct investment (FDI) deal for Algeria was signed last week, worth $5bn, for a project to build the biggest aluminium plant in North Africa. The plant is expected to have a capacity of 700,000 tonnes per year, to employ 10,000 workers during its construction and another 2500 once operational.
other link bigest fdi algeria
http://www.mubadala.ae/en/content/press_87.asp

the Tramway (at the end of 2008) for ALGIERS, ORAN, Constantine
* Manufacturing unit of Microsatellites (At the beginning of 2007)
http://www.magharebia.com/cocoon/awi.../14/feature-01
* SUBWAY of Algiers (September 2008)
* Three lines at high speed (LGV) will be carried out in Algeria from here (2009)
* the reorganization of Etusa
* the realization of 3 new cable cars (2009) and the rehabilitation of 4 what exists as well as the refitting of the roadway system.
* Electrification and of modernization of the railway ways, 500 billion dinars
* 1 Aluminium Factory signal 5 world
* 1 Factory Fertial Ferphos signal 5 world
* 3 Factories of Helium nitrogenizes liquid signal 5 world
http://www.allbusiness.com/mining/oi.../461229-1.html
* 1 paper Factory signal 5 world
http://www.printingtalk.com/news/kxz/kxz292.html
* 1 Airport signal 10 World (and other A To come)
* 1 Factory of glass signal 12 world
http://www.idverre.net/idveille-pdf/synthesys.pdf
http://www.skyscrapercity.com/showth...hlight=algiers
*1 million house planed to be built
http://www.magharebia.com/cocoon/awi.../19/feature-02
* 3 cities in constructions + Project (Boughezoul + Ghardaia + Sidi abdellah + Hassi Messaoud
* CHU of larger Oran and more modern hospital of AFRICA
* Hotels of Marriott Luxury + Sheraton Hassi Messaoud
http://www.ansa.it/ansamed/news/nati...434246821.html
* Tourism: ACCORD(Hotel IBIS and Mercure) 36 Hotels, Spain will build 120 000 Beds, Sidar 20 000 Beds etc...
http://www.ansamed.info/en/tourism/n....YAM17432.html
* construction 11 marina
http://www.magharebia.com/cocoon/awi.../26/feature-01
* 1 Crossroads in enormous Algiers and 1 with Oran
* Greater center of part spare from the Maghreb and the Arab world Peugeot part in Algiers 14 000 m² (Opening on January 23, 2006)
* SAIDAL (larger pharmaceutical company of the Maghreb)
* Enormous building site MAO (Is necessary to see it to believe in it so much C gigantic)
* bigest mosque of the world after the mecque one (SUBLIME).
* East-West MOTORWAY of 1216 km, will connect the 20 more important towns of Algeria. Composed of 57 exits, of 60 stations toll, 35 rest areas, the installation of 70 service stations, 70 stores and great surfaces, 70 restaurants, and around fifty of hotels... The LARGEST COMPANIES of the World are occupied of its REALIZATION. Remain A can meadows 900km has to realize. COût of the project 6,378 billion dollars (it is the largest ds project the field of the public works
FIRST IN AFRICA
28 October 2006
The Algerian National Railways (SNTF) have contracted Nortel to equip the El Gourzi-Touggourt line (418km) with GSMR wireless communication. It will be first application of this technology on an African railway

Multinationals to provide African mobile infrastructure
Multinationals to provide African mobile infrastructure

Written by Kui Kinyanjui

Infrastructure providers are now positioning themselves to gain a slice of the African telecommunications market that is quickly becoming one of the world’s quickest growing and most lucrative.

Cisco Systems joins a growing list of providers looking to enter the profitable local mobile phone industry that has grown by over 100 per cent in the last ten years , which requires technology such as towers and fibre as much as it needs human users to grow.

“Emerging countries are preparing for inclusion in the global market,” said Clement Masai, managing director of Cisco Systems.
“Emerging Africa is becoming an important market for international providers like us.”

Global telecommunications leader Ericsson recently opened its regional hub office in Nairobi as part of its ongoing emerging markets expansion programme.
The Sweden-based company plans to tap into a Sh1 billion kitty over the next five years to expand into the region.

Other infrastructure and solutions providers are also gearing up to register their local presence in the market, including newly formed Nokia Siemens who—operating as Siemens—has built much of the local infrastructure in use today.

The companies’ strategy to get closer to the customer is been driven by increased competition among providers for a shrinking market.

“During the past five years the sub-Saharan region has experienced exponential growth, which is now showing signs of levelling off,” said Thomas Sonesson, country manager for Ericsson in East Africa.

Nokia Siemens has revised its expectations for growth this year, saying it expects “very slight market growth” for the mobile and fixed services infrastructure market for 2007.

Firms are adjusting to the new trends accordingly, by relying on customer service to maintain major clients.

“Our vision to be the prime driver in an all-communicating world drives us to continuously seek out new and innovative ways to reach even the poorest communities with our communications solutions,” said Mr Sonesson.

The growth of the mobile phone business in the region is spawning new revenue streams for infrastructure providers.

Kenyans who own mobile phones have grown from just 200 in 1993 to seven million this year.

A lot of that growth was supported by the infrastructure companies from satellite offices.

But the moves to hit the ground locally appear aimed at ensuring they don’t lose ground to competitors.

“45 per cent of our business comes from service providers,” said Masai. “We are investing in sales and distribution to get closer to our customers due to the tremendous growth in that area.”Cisco provides Internet connectivity at the base of numerous mobile networks worldwide. Ericsson has focused more on the service provision end.

But both companies are seeking to market themselves as one stop— shops to their customers.

“We provide end-to-end solutions,” said Mr Masai, a claim contested by Mr Sonesson who said: “We are the only telecoms supplier to offer end-to-end solutions.”

Kenya is an attractive launching point into the East African region. Cisco recently rolled out a solution for the Ethiopian Telecommunications Company, undertaking a country-wide networking project.

And Ericsson is currently working with MTN Uganda to upgrade its network as growth in that country continues.

MTN’s chief executive Noel Meier has said it is spending $52 million (Sh3.6 billion) on the network.

“We anticipated an increase on the subscriber base and planned for it based on growth trends from the previous years. The capacity increase didn’t match the 60 per cent increase in the number of customers,” he said.

This is another great news . Even Singapore Airlines has started its cargo service to Nairobi ! :banana: I really can't wait to see more and more Kenyan and African products in the supermarkets here :banana:



Abdullah Wants Malaysia-Kenya Trade Expanded

NAIROBI (KENYA), April 18 (Bernama) -- Malaysian Prime Minister Datuk Seri Abdullah Ahmad Badawi, who is currently on a two-day working visit to Kenya, Wednesday called on the business community to work on diversifying and expanding trade between Malaysia and the East African nation.

He wanted the private sector to also explore possibilities not only in manufacturing but also in the related services and in the oil and gas industry, both in upstream and downstream activities.

"I would certainly like to see the expansion of investments between Kenya and Malaysia. Todate, investment cross-flows between the two countries are limited," he said at the Malaysia-Kenya Business Forum, held in conjunction with his visit.

Abdullah, who arrived here yesterday, is on an eight-day official visit to three African nations, namely Sudan, Kenya and Namibia. His next stop would be Namibia.

Acknowledging that the range of products traded between Malaysian and Kenya was limited, the Prime Minister said there was a need to closely examine "our complementarities" for trade expansion.

"Kenya has agricultural and mineral resources, while Malaysia's comparative advantage is in secondary industrial products such as equipment and machinery, chemicals and chemical products. We have to take note that Malaysia also has much experience in the oil and gas sector, which, I believe has also become an emerging sector in Kenya," he added.

He said that Kenya's economic growth had strengthened considerably in recent years, with real Gross Domestic Product growth in 2005 to 2006 exceeding five per cent, the highest growth rate in well over a decade.

Abdullah, who is also Malaysia's Finance Minister, said with Kenya's growth expected to remain robust this year in an environment of lower inflation, both sides -- Malaysia and Kenya -- would gain if they continue to build on their bilateral relationship.

The Prime Minister said although Kenya is Malaysia's 8th largest trading partner in Africa, the value of total bilateral trade in 2006 was still small, amounting to only US$90.3 million.

"This figure accounts for less than 0.1 per cent of Malaysia's global trade. Malaysia's exports to Kenya totalled US$78.2 million while imports from Kenya was at US$12.1 million."

But trade between the two countries is on the upward trend and there is indication for much expansion, he added.

Malaysia's exports to Kenya comprises palm oil, rubber, wood, chemicals, machinery and petroleum products while imports from Kenya include chemicals, agriculture produce and metal products.

Malaysian national oil company, Petronas, through its subsidiary ENGEN Kenya Ltd, is engaged in petroleum distribution activities throughout Kenya while the Malaysian Construction Industry Development Board (CIDB) is in talks with Kenyan authorities for the planning and implementation of infrastructure projects here.

Abdullah also urged the business communities of both countries to form joint ventures, strategic alliances or technological collaborations to explore investment opportunities.

"While the private sector drives the business imperatives, the role of government is to create the environment which is conducive for investments to take root. Government officials on both sides have an important part in the creation of such an environment."

He said there was a need to conclude an Investment Guarantee Agreement. Such an agreement will facilitate the systematic liberalisation, promotion as well as protection of investments, he said.

The Prime Minister said businesses can and should look at Malaysia and Kenya not only as individual markets, but also as the gateway to a larger economic environment with Malaysia being a springboard to Asean and Kenya an entry point to East Africa.

Touching on tourism, Abdullah said the sector had a vast potential for both Malaysian and Kenyan service providers.

"There is much room for cooperation between us towards enhancing eco-tourism, while ensuring sustainable development through prudent investments and exchange of expertise and knowledge.

"While the government has a role in facilitating, expanding and enhancing bilateral ties, it is ultimately the private sector which can put in effect our aspirations for enhanced economic linkages," said Abdullah.

Hi Skyprince, thanks for posting this onto ssc|africa!

Internet costs set to drop as CCK rolls out fibre optics plan

Written by Kui Kinyanjui[/B]

The cost of telephony and Internet connections is expected to drop by 80 per cent in 24 months thanks to an ambitious information technology project that aims to position Kenya as one of the most wired countries on the continent.

Yesterday, the Government announced that it had set in motion a project that will see the country’s 124 districts linked by a fibre optic raising the stakes in what has become the fastest growing sector in the economy.

More than 5,000km of fibre optic cable will be laid to all corners of the country to serve as a national backbone that will provide consumers with access to broadband internet. “This infrastructure will serve as the pillar on which services will ride to support the demands of a modern economy,” said Bitange Ndemo, the Permanent Secretary in the Ministry of Information. The government has committed to financing the project to the tune of $50 million (Sh3.5bn) hoping to provide high speed connectivity to areas that have thus far been ignored.

Upon completion, the National Optic Fibre project is expected to herald the transformation of Kenya into top notch ICT country where consumers will have access to high-end market services such as cable and internet protocol television.

Africa Analysis, a South African research firm estimates that Kenya’s broadband data services market will grow by nearly 600 per cent between 2006 and 2011.
Much of that growth will come from rural and home users as well as increased use of enhanced services such as tele-medicine and e-education as the cost of Internet connectivity drops. It is also expected that the terrestrial fibre network will create new business opportunities for entrepreneur, who can piggy-back on the Government’s investment to extend ICT services to the rural folk.

“With this infrastructure, we expect to attract service providers to remote and marginal areas at lower costs,” said John Waweru, director-general of the Communications Commission of Kenya (CCK) that is overseeing the project.

Mr Waweru said the fibre optics project is part of a bigger plan to make the country an Information, Communications and Technology (ICT) hub.
It will be hinged on the 600km terrestrial fibre optic cable that Telkom Kenya has laid between the coastal city of Mombasa and Malaba town on the Kenya-Uganda border via Nairobi.

“Our aim is to move the country to an infrastructure sharing system to reduce costs,” Dr Ndemo said.

Kenya Data Networks, a private firm that has invested millions of shillings in a cable connecting Mombasa to Busia via Nairobi yesterday shrugged off fears that it may be a victim of the initiative. “The more infrastructure that is in place, the better for the consumer,” said David Owino, the general manger at KDN.

Fibre optic cables can carry more data than satellite technology, which to date is the key infrastructure of internet services in Kenya.
The government, who will seek to raise the $50 million for the national backbone project through grants, concessions and loans, has already short-listed nine international firms who have been invited to tender for the project.

The range of international companies short-listed vying for the project includes Chinese Huawei and ZTE corporations, Sagem, Alcatel-Lucent and Siemens. “Africa is the new hot spot for telecommunications projects,” said Sun Jun of ZTE. “The telecommunications market has a lot of potential in this country.”
NOFBI indicates the executive is giving the nod to the ICT industry to take up its position as an economic driver. As a service sector, the communications industry is contributing increasingly large amounts to the national kitty.

Services now contribute to 65 per cent of the country’s economy. In 2005, the ICT sector’s contribution was pegged at over 10 per cent, up from 9 per cent in 2004.

Join Date: Apr 2007
Posts: 207

Nigeria: African Central Bank for Nigeria -- Obasanjo

Vanguard (Lagos)

April 20, 2007
Posted to the web April 20, 2007

Tony Edike
Enugu

PRESIDENT Olusegun Obasanjo says African leaders have agreed to establish a Central Bank of Africa with its headquarters in Nigeria in recognition of the enormous successes the nation has recorded through the reforms in the banking and financial sector.

The President made this disclosure at the commissioning of the new South East zonal headquarters of the Central Bank in Enugu shortly after commissioning the permanent site of the University of Nigeria Teaching Hospital , Ituku-Ozalla near Enugu equipped with ultra-modern medical equipment under the VAMED Engineering initiative.

He said the various reforms in the different sectors of the economy had put the nation on the right track towards achieving its goal of maintaining one of the twenty largest economies in the world by the year 2020. Such an achievement, he said, would reflect positively on all sectors of the economy making Nigeria not only the leading economy but the hob of economic activities in Africa .

President Obasanjo praised the CBN Governor, Professor Charles Soludo, the CBN staff and management for their numerous achievements which according to him bordered on the miraculous. He said that the national economy was on course towards attaining the targeted 10 per cent growth annually

His words: "If what Soludo tells me is anything to go by, we will even have offshore banking facilities and we will be growing at a rate that will make us a country to reckon with in the committee of nations. That is our desire and that is where we are going."
naija is online now Report Post Edit/Delete Message

Excellent Video from GIAD industrial complex south of khartoum.
GIAD is one of the greatest industrial achievement of Sudan.
Unfortunately it cuts at 2min35,but you can see the steel processing,the cars,truck assembling,the press....

http://www.sol-sd.com/video/displayimage.php?album=6&pos=0

By Harold Ayodo

Kenya is among three African countries that have the potential to become ‘economic tigers’ in the continent, the World Bank country director Mr Colin Bruce, has said.

The other two are South Africa and Nigeria, he said. Lauding ongoing efforts by the Government to fight poverty, Bruce said the World Bank will from next week start disbursing Sh27.7 billion to support Kenya’s economic development.

He was speaking during the opening of the Od Mikayi Development Information Centre — which is funded by the World Bank — at the Jomo Kenyatta Grounds in Kisumu on Friday.

He spoke a day after the Planning ministry released a household survey showing that most Kenyans now live above the poverty line.

The Kenya Integrated Household Budget Survey showed that only 46 per cent of the population failed to meet their basic needs.

Information assistant minister, Mr Koigi wa Wamwere, renowned author Ms Asenath Odaga and lawyer John Olago-Aluoch attended the function.

Bruce said Sh11 billion of the 27.7 billion donated to the Government by the WB would go towards supporting economic activities in Nyanza and Western provinces.

"The fund will go towards two major projects to assist the local communities increase their incomes and reduce inequalities," Bruce said.

He named the two projects as the Western Kenya Community Driven Development and the Flood Mitigation Project.

"The funds will create new opportunities for the locals to engage in wealth creating livelihood activities and reduce vulnerability to flooding," Bruce said.

The funds will also help in the fight against malaria, tuberculosis, HIV/Aids and natural resource management in the region.

Bruce said poverty indices in Western and Nyanza remained high at 52 and 48 per cent respectively, according to studies by the bank. He said Sh8.2 billion would go towards improvement of Information Technology countrywide for development.

"The Transparency and Communications Infrastructure Project aims to fund high speed Internet connectivity for local communities," he said. Another Sh8 billion will go towards the fight against HIV/Aids.


source - http://www.eastandard.net/hm_news/news.php?articleid=1143967874

Kenya, Tanzania, Congo lead in regional market

By PHILIP NGUNJIRI
Special Correspondent

Kenya, Tanzania and the Democratic Republic of Congo (DRC) accounted for more than half of the mobile telephone market in the East and Central Africa region.

This placed them among Africa’s 10 largest markets, says a report.

The report by Informa Telecoms & Media, projects substantial growth in the number of subscribers in the region. This is expected to push up the region’s share in Africa’s mobile telephony to 20 per cent in 2011 from the 16 per cent in 2006.

It says East and Central Africa’s mobile phone subscribers will rise to 67 million by the end of 2011, up from over 30 million at the end of 2006.

The number of users in Kenya is projected to grow by 87 per cent in the next five years. In the same period, Tanzanian users are expected to grow by 109 per cent while those in DRC will grow by 200 per cent.

This set the region ahead of many others in Africa. The continent average growth is 72 per cent.

Mobile users account for 83 per cent of Africa’s telephone subscribers, a higher proportion than any other region in the world.

Informa Telecoms & Media is a specialist research information provider to academic and scientific organisations.

Mobile network coverage in Africa at 15 per cent is still the lowest in the world, varying from 72 per cent in South Africa to one per cent in Eritrea. Expansion is expected to be slow.

Between 2000 and 2005, the number of mobile phone lines in Africa rose from 15.6 million to 135 million, according to the Geneva-based International Telecommunication Union.

This rise is particularly felt in East Africa where competition for subscribers has seen telephone charges fall considerably. For example, in the past six months MTN Uganda, Vodacom Tanzania, and Celtel have reduced their roaming rates through various schemes.

Celtel launched its One Network service in September 2006. MTN Uganda, Vodacom Tanzania and Safaricom of Kenya launched their joint Kama Kawaida roaming service at the beginning of 2007.

Celtel’s scheme scrapped the high cross-border roaming rates that the operator had previously levied on calls made between its networks in Kenya, Tanzania and Uganda.

The service allows Celtel subscribers in the three countries to make cross-border calls at near-local rates, while receiving incoming regional calls free of charge. The service also enables prepaid customers to top up their accounts with locally-bought airtime cards, while users who call the help desk as they travel are automatically routed to the call centre in their home country for answers in their own language.

In Kama kawaida service, customers make calls and send text messages across the three countries at their home tariff.

Another development likely to further entrench the industry is the Wideband Code Division Multiple Access (WCDMA), a high-speed digital service that supports more users that the current system. This will be introduced in Kenya, Tanzania and Sudan by the end of the year.

source - http://www.nationmedia.com/eastafrican/current/Business/Business3004074.htm

MC DONALDS IN ALGERIA

After European "Quick", McDonald' S soon in Algeria The American group specialized in the rapid restoration started the first operational steps for the creation of a series of restaurants in Algeria. The group started to seek the batches of adequate grounds for its projects. This new initiative of the American operator intervenes after the failure of an Algerian residing at the United States, and after the decision of the number one Européen "Quick" to open a series of 20 restaurants, of a value of investment of more than 20 million euros, with an average of two million euros per restaurant. This mark had begun its activities, in mid-March in Algiers, in waiting of the opening of a restaurant to the current of this summer. This American mark tries, in addition, to widen the field of its activities through several countries, in particular in North Africa, after Morocco, it aims from now on the Algerian and Tunisian market. That intervenes after the American group carried out a sales turnover Net estimated at 4,44 billion dollars in 2006, that is to say an increase of 11% compared to the year of front. This American mark has 32 thousand restaurants in 118 countries, to which will come to be added 800 new, with an investment reaching the 1,9 billion dollars. After European "Quick", Mc Donald' S soon in Algeria

Africa: China Plans $100 Billion in Trade With Africa By 2010


Judith Akolo
Nairobi

The Chinese government has pledged to continue working with African governments in order to grow and sustain trade between individual African countries and itself.

China hopes to increase trade with Africa to over $100 billion (approx R702 billion) by the year 2010, the Chairman of the National Committee of the Chinese People's Political Consultative Conference, Jia Qinglin said.

He added that China was working on increasing imports from Africa in order to achieve sustainable balance of trade with the African continent.

Speaking at the opening ceremony of the China-Kenya Economic and Commercial Co-operation Forum here Tuesday, Jia said China was set to zero-rate tariffs on 442 goods from Africa in order to increase trade potential.

At the ceremony officiated by Vice President Moodi Awori and Trade and Industry Minister Dr Mukhisa Kituyi, Jia said that China wants to set up bilateral preferential trade arrangements and free trade areas in order to increase imports from the continent.

Mr Jia, who also launched a Kenya-China Economic and Trade Co-operation Website, said his country would establish a China-Africa development fund that will cater for Chinese companies wishing to invest in the continent.

He said China was exploring the possibility of venturing into banking, tourism, culture, science and technology as new areas of investment.

Digital villages’ to be set up all over Kenya to speed up access to data

Story by NATION correspondent
Publication Date: 2007/04/30

The Government plans to set up ‘digital villages’ throughout the country, to ease access to information for its citizens.

Information assistant minister Mr Koigi Wamwere said during the weekend that the villages to be set up in all the 210 constituencies, will facilitate easy access to information that would trigger economic development in those areas.

Commissioning

The minister was speaking in Kisumu during the commissioning of the Od Mikayi satellite information centre, where the project by the Government also received a major boost with the approval of a Sh8 billion grant by the World Bank.

This will see local communities exposed to new technologies such as the internet and SMS banking.

“We intend to roll out the first of these projects in August,” said Mr Wamwere.

He added, “The laying of fibre optic cables throughout the country is on course and when completed, Kenyans are going to enjoy the benefits of high speed internet connectivity.”

This initiative is intended to double the number of people having access to such services from 2.7 to 6 million, he said.

Also targeted will be telephone subscribers, whose numbers are expected to rise significantly from the current 8.5 million to 15 million before the year ends.

Learning centres

“We also intend to set up E- learning centres in all schools in addition to computerising all Government departments in the country.

"This will enhance transparency in the running of Government affairs,” said the minister.

Kibaki: Tuition fees to go

By Amos Kareithi and Cyrus Kinyungu

The Government will scrap tuition fees in public secondary schools from next year, President Kibaki has said.

Marking the last Labour Day of his first term, Kibaki broke from the tradition of offering workers a hike in the minimum wage — as he did in the previous two May Day functions — and targeted the hearts of the population with the tuition fees waiver.

The President made the unprecedented offer, unmatched since independence, that the Government would foot the Sh4.3 billion-tuition bill, in public secondary schools in what is likely to be seen as a campaign ploy in an election year.

The offer was coupled with other announcements, which had earlier been made public, including the establishment of women’s fund, revitalising 210 polytechnics, provision of full inpatient services to National Hospital Insurance Fund contributors and the overhaul of the National Social Security Fund from a scheme to a provident fund.

The President announced this at Uhuru Park on Tuesday, where he led the nation in marking Labour Day.

Parents will still pay for other amenities

Kibaki’s announcement, which come days before the annual budget is read, in which some of his offers, including the women’s fund will be factored, will be read as one of his campaign goodies to be expected towards election countdown.

The Government is bound to pay for only Sh3,600 a student a year, the prescribed public school tuition fees. But parents will still pay for other amenities that count for the bulk of education costs.

Other leaders who attended the function included Labour minister Dr Newton Kulundu, Gender and Sports minister, Mr Maina Kamanda, Public Service minister Mr Moses Akaranga, Assistant ministers Dr Wilfred Machage and Mr Stephen Tarus, Kabete MP, Mr Paul Muite, Lang’ata MP Raila Odinga, Westlands MP, Mr Fred Gumo and Makadara MP, Mr Reuben Ndolo.

Kibaki said: "With effect from January, 2008, the Government will meet the cost of tuition in public secondary schools at a cost of Sh4.3 billion."

He said that from next January, parents with children in secondary schools would be required to meet the cost of running the institutions.

The President said the Government would spend Sh4.3 billion to subsidise secondary education. He added that the Government hoped to reduce the secondary education bill for poor households by reviewing the cost.

Government to equip youth polytechnics

Kibaki directed the Minister for Education to issue new fees guidelines for next year.

The current fees guidelines are Sh26,900 for national schools a year, Sh22,600 for other boarding secondary schools — provincial and district — and Sh9,000 for day schools. Most schools charge almost twice these amounts.

To prepare high school leavers with appropriate schools for the job market, Kibaki said the Government would equip 210 youth polytechnics this year.

"We are also establishing model youth polytechnics in every district. The first 35 will be established this year," he added.

The move to reduce the cost of education has been taken to ensure that majority of children in primary schools, transit to secondary level, said Kibaki.

Already, the President said 750 instructors have been recruited to run the polytechnics. He said the Government would announce major changes to expand access and improve quality of university education.

Kibaki also said the fund to cater exclusively for women, which he announced earlier, will be operational from July.

NHIF to offer full inpatient cover

The fund, he explained, will provide start-up capital for women in business for them expand their enterprises and create jobs.

The fund has its equivalent in the national youth fund, which encourages youth enterprises.

Although there was no direct salary increment for low cadre workers on Tuesday, the President gave a raft of pledges. Kibaki said the Government hoped to install electricity in all urban centres so that security can be restored and businesses can remain open.

Touching on the health of workers, the President said National Hospital Insurance Fund would offer full inpatient cover in its 300 accredited public and private hospitals.

Currently, NHIF only caters for contributors’ bed occupancy when in hospital, leaving them to foot the medication costs.

"The Fund is also expanding its coverage by masking provisions for retirees and informal sector workers to become members with full benefits," Kibaki said.

The Government has also revitalised National Social Security Fund (NSSF), opening voluntary contributors’ window of opportunity to extend coverage for the self-employed.

"My Government is of transforming NSSF from a provident fund into a pensions scheme. This will ensure greater social security to workers during retirement. He said the Government would take the necessary legislation to Parliament fore approval and enactment.

Government improving connectivity

The President noted that lump sum payments could not secure retirees against financial pressures of old age.

Disputing claims that his establishment had not created employment as promised, Kibaki pointed out that the numerous infrastructure projects have improved the quality of life for workers.

He cited the projects in water supply, rural electrification and roads as those that have created jobs. Kibaki said the country welcomed the global trade economy and appealed to local investors to embrace the challenge.

He said local products should be of high quality and competitive prices to compete effectively with those from other regions, such as Common Market for East and Southern Africa.

Kenya, the President said, was improving connectivity to reduce telecommunications costs and at the same time create jobs.

"My Government is encouraging local investors to partner with North American and British firms to make Kenya their premier outsourcing destination in Africa," he added.

On security, the President said, without naming it, that Mungiki was targeted, saying nobody would be allowed to extort money from hard working Kenyans, warning they would be dealt with ruthlessly.

"Hakuna haja ya watu kubembelezwa (There is no need of sweet-talking such people.) You will be jailed. We have no use for people who think they can get money without working," said the Head of State.

He said the Government would be so tough on them that they had no choice but to relocate or leave their crooked ways.

Hiring expatriates to run State corporations

Cotu Secretary-General, Mr Francis Atwoli, censured the Government for hiring expatriates to run State corporations, saying it was ridiculous.

He warned of the new trend, saying it would in the long run enslave millions of workers, if expatriates became captains of industry.

"I will not be comfortable negotiating with the KPLC CEO. He does not understand industrial relations. Multinational companies must respect our core labour standards," said Atwoli.

He said a country, which has been independent for 40 years and boasted of 12 universities, which produce quality graduates, should not hire expatriates.

"It is demeaning for some companies to have foreigners as chief executive officers yet they have no idea of the country’s industrial relations machinery nor how to relate to workers," he said.

He added that expatriates should only play technical advisory roles. He cautioned MPs against passing Bills, which could infringe on the independence of the Industrial Court.

"The Industrial Court awards should be final. They should not be referred to any other court for interpretation. We should continue with the current trend," Atwoli added.

The trade unionist said three Bills, which proposed to place the Industrial Court under the High Court, were scheduled to be tabled in Parliament.

"Our Trade Disputes Act, clearly clarifies the matter and for industrial peace and economic development, this law must remain. Employers must stop campaigning for an Industrial Court of Appeal forthwith," Atwoli said.

The union boss argued that if the law was changed, many low-cadre workers would die without getting their awards as the process would not only be long, but also expensive.


source - http://www.eastandard.net/hm_news/news.php?articleid=1143968063

Tanzania: Doubts Over Graft Remain as Dar Gets $190 Million Aid
The East African (Nairobi)

1 May 2007

Kevin Kelly
Nairobi

Kenya's economic resurgence is helping to power the growth of its East African neighbours, the World Bank's country director for Tanzania and Uganda has said in an interview last week.

"The outlook does seem promising in all three countries," said Judy O'Connor, an Irish national who has worked at the World Bank for more than 30 years. "Tanzania and Uganda are definitely benefiting from the strength of Kenya's economy."

Speaking to The EastAfrican from Washington, Ms O'Connor offered the positive appraisals two days after the bank approved a $190 million anti-poverty initiative for Tanzania and a $42 million credit to support education improvements for Zanzibar.

The bank also last week approved a $150 million loan to spur construction of the Bujagali hydropower project in Uganda.

Ms O'Connor praised the recent economic performance of both Tanzania and Uganda, adding that the two countries are also attacking corruption and reducing poverty.

Tanzania has achieved 10 years of strong economic growth despite increases in oil prices and damage to the farming sector due to drought, Ms O'Connor noted.

Uganda's economic expansion has been even more robust than Tanzania's during the same period, she added, pointing out that Uganda has also had to withstand "energy shocks."

"The high cost of energy is really hurting Uganda's economy," Ms O'Connor said. She expressed hope that the World Bank's favourable review will encourage private investors to help develop Uganda's oil and mineral deposits as well as its hydropower resources.

With all three East African economies remaining vibrant, the bank is taking a gentler tack on governance issues that had drawn pointed criticism in the past.

Ms O'Connor said the Kikwete administration is making "remarkable progress" in combating corruption while President Yoweri Museveni's government "is doing quite a bit" to build institutional capacity to fight graft.

Control over corruption has not advanced in Uganda to the extent that the World Bank had hoped, she said. But added that Uganda still scores better than many African countries on a corruption index compiled by the bank.

"The government is starting to put some teeth into its efforts to ensure accountability," Ms O'Connor said in regard to Uganda. "We would like to see more of those teeth."

She expressed almost unconditional approval of Tanzania's anti-corruption initiatives. Graft does remain a problem, Ms O'Connor acknowledged, adding, however, that "many aspects of the problem are being addressed."

She cited greater freedom of the press in Tanzania as an important factor in fighting corruption.

"There has been support from the top - from President Kikwete and senior officials - for the press to be more investigative," Ms O'Connor said.

Impressive economic growth rates are beginning to alleviate poverty in both countries that she monitors and advises, she added.

Some rural areas of Tanzania "are doing a lot better than others, depending on how well connected they are to markets," she observed. In Uganda, she said, the nationwide poverty rate has fallen to about 31 per cent in the past few years, which she termed "a significant improvement."

Ms O'Connor expressed reluctance to comment on political conditions in either Tanzania or Uganda, noting that the World Bank has "a mandate not to go into the political sphere."

But in response to a question about growing ethnic tensions in Uganda, she said she hopes "one would not use a single event to see a trend." Animosity toward Ugandans of Asian descent does, however, constitute "a potential issue that has to be understood and dealt with," Ms O'Connor added.

She also suggested that strains between Zanzibar and Tanzania mainland be effectively addressed.

"We see positive signs there," she said. "The two leaders do seem committed to resolving tensions."

The World Bank will encourage Tanzania in the coming months to focus on education, infrastructure and energy, Ms O'Connor said.

"We want to see attention given to the quality as well as to quantity of education," she declared.

Tanzania should also give priority to transportation projects that will improve linkages between the country's interior and its Indian Ocean ports, she said.

"With greater private investment," she added, "the country will have a more reliable energy supply."

Kenyans Counting Fortunes As Poverty Levels Decline
The East African Standard (Nairobi)

27 April 2007

Cyrus Kinyungu
Nairobi

Poverty has declined over the last five years, with half the national population living above the poverty line.

The Kenya Integrated Household Budget Survey released on Thursday by the Ministry of Planning and National Development shows that the national poverty levels declined from 56.8 per cent in 2000, to 46 per cent in 2005 and last year, an improvement of 10 per cent.

This means that only 46 per cent of Kenyans have levels of consumption that are insufficient to meet the basic needs, says the report.

The ministry defines the poverty level as the threshold below which a person is deemed to be poor. Overall poverty lines used in the report are monthly income equivalents of Sh1,474 for rural areas and Sh2,913 for urban areas.

While poverty levels declined from 59.6 per cent in 2000, to 49.1 per cent in 2005 and last year in rural areas, the levels declined to 33.7 per cent from 51.5 per cent over the same period in urban areas.

Hardcore poverty

Food poverty, which the survey describes as the inability of a household to satisfy its basic food requirements, dropped marginally to 45.8 per cent from 48.3 per cent nationally in 1997.

The survey defines the food poverty line in monthly adult equivalent terms of Sh988 for rural areas, and Sh1,474 for urban areas. In rural areas, it dropped from 50.6 per cent in 1997, to 47.2 per cent in 2005/6. The food poverty levels ironically rose in urban areas from 38.3 percent in 1997 to 40.5 percent in 2005/6.

"The results show that in 2005/06, only 2.3 million people who would have been poor had escaped poverty since 1997," National Planning minister, Mr Henry Obwocha, said while releasing the survey.

World Bank Country Director, Mr Collins Bruce, Trade and industry PS Mr David Nalo, Department for International Development (DfID) director, Mr Simon Bland and a representative of Usaid Kenya, attended the ceremony at the Kenyatta International Conference Centre.

The hardcore poverty, which is the group whose total expenditure cannot meet their basic food needs, declined by 10 per cent from 29.6 in 1997, to 19.1 per cent in 2005/6 nationally.

The survey, on which the Government spent Sh620 million, was designed to cover 13,430 households sampled from all districts. The survey was conducted by 250 research assistants, over a year and the data analysed by statisticians at the Kenya National Bureau of Statistics.

It was aimed at providing national, provisional and district poverty estimates.

Nairobi is the most endowed province with poverty levels of 21.3 per cent, while North Eastern is the worst hit with poverty levels of 73 per cent, followed by Coast with 69 per cent.

Central Province closely followed Nairobi with poverty levels of 30.4 per cent, with Nyanza following with 47.6 per cent and Rift valley with 49.

Eastern Province had levels of 51 per cent while Western had 52.2 per cent. Nairobi and Nyanza provinces made the greatest stride in improving their poverty status.

In 2000, Nairobi had 56.6 per cent poverty levels, while Nyanza had 71 per cent. Coast made insignificant improvement of 0.2 per cent from its 2000 poverty level of 69.9 per cent.

Indicators

The survey indicated a positive trend by economic pointers, with inflation rates stabilising at 9.9 per cent in 2005. Borrowing by the private and the public sector also rose from Sh200 billion in 1997 to Sh400 billion in 2005.

Through the Local Authority Transfer Fund, Constituency Development Fund, Bursary Funds, and District Roads Fund among others, the survey noted that each constituency receives at least Sh80 million every year.

The survey shows that 79 per cent of Kenyans above 15 years are literate, while 81 per cent of them can write. But it further notes that about 690,000 children of school going age are not in school. This, the report notes, comprises about 6.2 per cent of the population of children aged six to17 years.

"More than a third of the population of children aged six to 19 years in North Eastern Province have not been to school," it notes.

Fifty-seven per cent of households have access to safe drinking water, it reports. But only 48 per cent of rural households use safe sources for water, and 83 per cent of urban households have access to safe water

About 68.8 per cent engage in agricultural activities or livestock keeping, with a majority of them, 85.4 per cent, in rural areas.

Fine job

The survey, which is supposed to guide the Government on its national planning and budgetary allocation to eradicate poverty, shows that the level of education of the household head is inversely related with poverty.

"In rural areas, the incidence of poverty drops from 65 per cent for household heads with no education to 51.5 per cent for those with primary education and 27.2 per cent for household heads with secondary education," notes the survey.

The average household size shows the survey, stands at about 5.1 per cent, while the country's estimated population is 35 million growing at 2.5 per cent per annum.

"This is truly a professional job," said Bruce. "I hope the data will be used to help in economic recovery."

He said a World Bank team was looking at the survey to see how it can target children, women, and those in the slums to uplift their living standards.

"This data needs to be interrogated and criticised. It should be implemented to help fight poverty and uplift the living standards," said the DfID representative, Mr Simon Bland.

Why West African economies must integrate – Minister

From Patrick Ugeh in Abuja, 05.08.2007
Tuesday, May 8, 2007

Minister of State for Finance, Engr. Elias Mbam, yesterday stressed the need for West African economies to be integrated as a way of boosting economic growth and attracting foreign investment.

He spoke at the 23rd technical meeting of the West African Monetary Zone (WAMZ) which began in Abuja yesterday even as it came to light that nations in thesub-region will establish an online database in two weeks, to store information about economic performances of the various nations so as to allow for easy monitoring of economic growth, among members.

According to Mbam, “Despite the numerous challenges and systemic risks associated with globalisation, regional and sub-regional integration has become a veritable option for achieving economies and wider markets; and for achieving growth and poverty reduction.” He added: “It is a matter of fact that barriers to trade, particularly of the non-tarrifs types have constituted serious impediment to the free flow of goods and persons in our sub-region.

Survey: Its now easier to do business in Kenya
--------------------------------------------------------------------------------

Source: The Standard
Date:9/5/2007

By John Oyuke

The business environment has improved significantly a new Government survey indicates.

The report by the newly established Business Regulatory Reform Unit (BRRU) in the ministry of Finance, says it is now much easier to register and do business in the country compared to previous years.

The survey focused on starting a business, dealing with licenses and paying taxes.

Results of the survey indicate that for the "Starting a Business" indicator, the number of procedures have been reduced from 13 to 11, while the number of days to start a business have reduced from 54 to 22.

The licensing procedures have also been reduced from 11 to 10, and the waiting period slashed from 179 to 73 days.

In relation to taxation, the number of payments has been reduced from 25 to 17, while the time it takes to pay taxes has reduced from 432 to 236 hours due to improvement in Value Added Tax administration.

Making the announcement on Wednesday, Finance Permanent Secretary, Mr Joseph Kinyua welcomed the findings and asked the private to forward their experience to enable the Government accelerate the reforms.

Kinyua was speaking at a private-public sector workshop on "Doing Business In Kenya" in Nairobi.

"We are committed to reforms that will provide a public service capable of effectively playing its role in development," he explained in a speech read on his behalf by the Economic Secretary, Dr Kamau Thugge.

Kinyua said BRRU streamline the licensing regime and other measures taken to improve the investment climate for both local and foreign investors. He said the unit will soon create an electronic-registry to serve as a database of all existing business licenses in the country.

"These measures are geared towards reducing red-tape and cost of doing business to make the private sector more competitive," said Kinyua.

Kinyua however noted the poor ranking of Kenya with respect to indicator trading across borders, where the country is ranked 145 out of 175 and said the Government would direct more efforts to reverse it.



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http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ao5_lG_7IEoo

EU Scraps Duties on Imports From Ex-Colonies to Boost Economies
By Warren Giles

May 15 (Bloomberg) -- The European Union will scrap most of the remaining customs charges on imports from 78 former colonies in Africa, the Caribbean and Pacific in an effort to fuel the commodity-dependent economies.

The EU's trade arrangements with the group of developing countries expire on Jan. 1. Today's decision to increase access to the European market, backed by ministers meeting in Brussels, also ends limits on the volume of exports to the 27-nation bloc.

Imports from the group, known as the ACP, were worth 28.4 billion euros ($38.5 billion) in 2004, according to the European Commission, the bloc's executive arm. A quarter of exports from the ACP were petroleum products, and 11 percent of the total was diamonds, the commission says.

EU imports of commodities from 49 of the world's poorest countries, excluding sugar, bananas and rice, have been tariff- free and unlimited in volume since 2001. That agreement excluded 37 ACP countries.

The commission has said that an exemption for rice from the measure approved today would expire in a ``small number of years,'' and sugar customs duties and import ceilings won't end until 2015 while the bloc overhauls its own market.

Foreign firms to invest SH 70 bn in Kenya

Foreign firms to invest SH 70 bn in Kenya
Written by Jim Onyango

Susan Kikwai, MD- Kenya investments Authority17-May-2007: Ten international companies have been cleared to put up manufacturing and product assembly facilities in the country that could see billions of shillings flow to the economy.

The projects, said to be worth Sh70 billion, are hoped to speed inflow of foreign direct investments (FDI), according to the Kenya Investments Authority (KIA), which oversaw the approvals.

The companies include several giants in the worldwide software and computer industries as well as a major car-maker.
The authority’s managing director, Susan Kikwai said yesterday that despite hindrances to the development of the private sector in Kenya, foreign investors are showing confidence in the country by committing to doing business here to serve the east African region.

The push for foreign investment has come across barriers like high cost of doing business, supply chain issues and the inadequate access to finance and credit. Kenya was recently included in a World Bank list of 26 African countries where survey teams will travel to identify obstacles to business development that negatively impact growth of the private sector and the economy in general.

Ms Kikwai, in an interview with Business Daily said two of the multinationals will be installing mobile phone assembly plants, while four will put up information and communication technology (ICT) facilities and one plans a truck manufacturing factory.

The KIA MD however, cited client confidentiality in not releasing the names of the companies at this point.
“We have superseded our performance contracts,” said Ms Kikwai. “We already have enlisted foreign investors who will bring in excess of Sh70 billion into the country in form of investments.”

She added that KIA was also targeting local investors who can put up businesses that would create employment and generate revenue for the government.

In the first quarter of 2007, the investment body processed investment applications for 34 companies, which would put in a total Sh7.4 million in projects and an estimated an estimated 3000 jobs into the country.

The developments come two weeks after a World Bank Investment Climate Survey said Kenya had a comparative advantage in terms of labour costs with some countries such as South Africa and Brazil, but it added the productivity of Kenya’s manufacturing sector lags behind that of other nations.

Ms Kikwai said a recent report by the Controller and Auditor -General, which said that the Investment Authority spent Sh10 million without the approval of the ministry of trade was true, but blamed it on a poor management structure she had inherited upon her appointment to the KIA last September.

She said she planned to put in new structures to ensure tighter financial controls. The Kenya Investment’s Authority is a government body created in 2004 under the Ministry of Trade and Industry to promote and facilitate private investments in Kenya for both local and foreign investors.

In its own strategic plan for 2006-2011, the Ministry of Trade and Industry identified poor business environment as responsible for the declining investments in Kenya from 2000-2004. During that period FDIs declined steadily while that into neighbouring countries Tanzania and Uganda increased. More conducive business environments in those countries was cited as the main cause.

Foreign investors put up 164 businesses in Kenya in 2000 compared to 80 in 2004. Uganda registered 181 new foreign businesses in 2000 and 197 in 2004 while Tanzania recorded 282 direct foreign investments in 2000 and 435 in 2004. But the government launched the Vision 2030, which it said was a road map to propelling Kenya to new heights of economic growth.

Lagos Business School makes global top 50 list

Lagos Business School makes global top 50 list

THE Lagos Business School (LBS) yesterday made history as the first of its kind in sub-Saharan Africa to attain world ranking.

According to a list published yesterday by the Financial Times of London, the school was ranked among top 50 business schools worldwide in the area of open enrolment executive education programmes.

The prestige accorded the Nigerian school could better be appreciated when put in proper perspective.

These days, many newspapers and magazines compile rankings of business schools, but those of Business Week and the Financial Times stand out.

While Business Week focuses on American schools, the Financial Times is considered by many to be the pre-eminent international ranking.

The Financial Times is reputed to adopt rigorous modalities in its exercise and its compilations are based on data from schools participants in the programmes and third-party sources. Many business schools all over the world are known to work very hard to be included in its list.

To gain insight into the significance of being included among the best 50 providers of executive open enrolment programmes, it is useful to consider how many and how good are the schools that did not make the list using the following statistics:


- the total number of business schools in the world is estimated by the top accreditation agency to be around 10,000; new ones are created literally every week;

- in the UK alone, there are over 100 business schools; only four of them managed to be included among the top 50 worldwide in open enrolment programmes; and

- a country as economically powerful as Germany has no school in this ranking; only an Italian school is included; and there are no schools from Eastern Europe or Russia. Even more significantly, not a single Asian school was included, even though India, China and the Philippines have a good number of very well respected schools.

The journey of the Lagos Business School began 15 years ago with the launch of the first executive education called the Chief Executive Programme. Since then, the school has grown to become one of the best in sub-Saharan Africa.
LBS has striven to deliver quality management education in a continuous and constant way. The school was designed to meet the acute need for management training in the country that arose as a consequence of the rapid industrialisation that took place in the country in the late 80s and early 90s.

A business school of international standard that offers management courses relevant to the Nigerian environment was thus established. It also had to be a school that would strengthen values and ethics in people, business and the society.

Source - http://odili.net/news/source/2007/may/16/1.html

^^

The FT Global Top 50 - http://rankings.ft.com/rankings/openProgrammes/rankings.html

^^ And there are three South African schools there also.

Heart warming to see real progress being made all over Africa.

http://www.busrep.co.za/index.php?fSectionId=&fArticleId=3834358

Africa's economy gets ADB approval
May 16, 2007

By Christopher Bodeen

Shanghai - Africa is in its best economic shape in decades thanks to better management and a booming demand for commodities, the president of the African Development Bank said Wednesday.

Donald Kaberuka said the region's economies last year grew at an average of 5.5 percent as a result of improved peace and stability, better terms of trade, more responsible economic governance and a better business climate.

"Today Africa is better poised for economic prosperity and better governance than it has been for decades," Kaberuka said at the bank's annual meeting in China's commercial hub of Shanghai.

"The last six years represent the longest period of sustained economic growth on the continent since independence, even in countries which are not richly endowed in natural resources," he said.

Massive demand, much of it from China, for Africa's oil, gas, minerals and timber have sent prices skyrocketing, causing a windfall for states with abundant resources. Lower debt ratios and a flood of remittances from Africans working abroad is also driving growth, Kaberuka said.

With 31 nations growing at faster rates than the increase in their populations, Kaberuka predicted growth to strengthen this year at above 6.5 percent.

"Africa stands at a point today where several countries have a fair chance of following in Asia's footsteps," Kaberuka said.

However, he warned also that millions of Africans still lived in countries whose economies were "stagnating, contracting or barely keeping up with population," beset by state fragility, violent conflict and policy setbacks.

Africa's population is also growing quickly, and growth in many countries remains vulnerable to natural catastrophes, reversals in trade terms, reductions in aid and "major slippages in in governance," Kaberuka said.

"This implies that even at 5.5 percent in real GDP growth, Africa is still a long way from making a dent in poverty, which remains extensive and pervasive," he said.

The hosting of the bank's meeting in China, one of its 24 non-African shareholders, underscores the growing ties between China's booming manufacturing-based economy and the resource-rich continent.

An estimated 700-800 Chinese companies are active in Africa, sending two-way trade soaring to $55.5 billion last year, four times its 2000 level, according to the bank. Beijing says it wants to that figure to rise to $100 billion by 2020.

The United States, Japan, France, India and Britain are also members of the African Development Bank.

Kaberuka said the ADB Group reported strong earnings of $372.5 million last year and increased financing approvals by 27 percent to $1.6 billion. Its debt enjoyed the highest possible ratings from international rating agencies and "the financial position of the bank remains strong and the medium-term outlook is robust," he said. - Sapa-AP

West African Stock Exchanges meet on harmonisation of rules

The three stock exchanges in the West African sub-region on Thursday began a two-day meeting aimed to find ways to harmonise the trading platform, rules and regulations governing trading in shares on the respective markets to pave way for integration of the markets.

Officials of the Ghana Stock Exchange, the Nigerian Stock Exchange and the Abidjan based Bourse, Regionale des Valeurs Mobilieres (BRVM) that serves the eight Francophone countries, attending the meeting, said adoption of common rules and laws to govern operations within the exchanges was a necessary first step to full integration. The creation of a single stock market would allow the stock exchanges to grow and to become competitive on the global market as well as provide investors and companies a large market within which to raise capitals, they said.

The West Africa Monetary Institute (WAMI) is already working on the integration of the Ghana and Nigeria Stock Exchanges as a first step to the integration of capital markets of member countries of the West Africa Monetary Zone, which is expected to adopt a single currency by 2009.

Mr Mare-Odiake Chris Okolie, Director of Operations of WAMI, said to ensure rapid harmonisation of operations on three exchanges, the partners must work towards uniform definition of concepts. But first they must overcome the harmonisation of payment and settlement system, laws and reporting rules that currently inhibit transactions across markets. Mr Jean-Paul Gillet, Director General of BRVM, said although the process would be dogged by legal and policy hurdles, there was the need to persevere to bring into reality the integration of the markets. "I am happy about the setting up of committees to look into the process and see how best to implement the decisions," he said. Binos Dauda Yaroe, General Manager of the Nigerian Stock Exchange, said there was the need to go along with regulators of the industry in the respective countries to enable them to understand the necessity of integrating the markets.

This would help remove any suspicion as to the direction of regulating the market.

Mr Kofi Yamoah, Managing Director of the Ghana Stock Exchange, said integration was necessary for the capital market in the sub-Region to fully participate in the global market. He said a single market would allow free flow of capital and expand investors' horizon to explore opportunities across frontiers. But for this to succeed the law of one price, access to trade in equities at the same price and legal and financial obstacles must be removed. "Integration requires that the respective barriers, such as tax, legal and regulatory regimes, which do not permit the free flow of capital be examined and dealt with." This calls for the harmonisation of both the regulatory and operational framework through agreement on the use of minimum standards. The Accra meeting, which is a follow up to one held in December last year, would come out with an action plan to move the process forward.

Kenyan Economy to grow by 6.2 per cent this year, says President Kibaki

By Benson Kathuri

The economy is expected to grow by 6.2 per cent this year up from six per cent last year, President Kibaki has said.

Speaking when he opened the fourth Common Market for East and Southern Africa (Comesa) business forum at the Kenyatta International Conference Centre, the President said the private sector would continue to be the engine of that growth.

"In Kenya, my Government has over the last four years continued to implement measures intended to facilitate the emergence of a vibrant private sector," he said.

"As a result of these and other efforts, we have witnessed steady improvement in the performance of the economy."

Paying tribute to the private sector in the Comesa region, President Kibaki said there were still challenges the sector must overcome in order to utilise the idle capacity.

The sector is faced with challenges of globalisation and competition in the international markets.

He said in order for the sector to thrive, the Government will have to improve the business environment and accelerate institutional transformations.

The Government would also facilitate growth through trade expansion, improve productivity of enterprises and support enterprise development.

The Head of State said the Government would pay special attention to the small and medium enterprises (SMEs) that were vital in job creation.

"The future development of the small and medium scale sector is, therefore, key to sustainable economic expansion and growth in employment opportunities," he said.

"I urge Governments in the Comesa region to take deliberate measures to promote the growth of small and medium scale enterprises."

Kibaki, who will next week take over as the chairman of Comesa organs for the next one year, said Governments must simplify business procedures and respond to business concerns.

He challenged other leaders to invest more in infrastructure.

The chairman of the Kenya Association of Manufactures (KAM), that is co-sponsoring the forum, Mr Steven Smith expressed concern over the increasing application of non-tariff barriers (NTBs) by most Comesa countries.

"I call upon Comesa national governments to enact legislations, which can enable the private sector to participate effectively in the development of the region’s infrastructure," he said.

"These range from export restrictions or injunctions, sanitary and phytosanitary measures to cumbersome customs and administrative procedures at border posts," he said.

The two-day meeting has brought together over 500 delegates from 19 Comesa countries.

OBJ launches new ECOWAS passport

By Inalegwu Shaibu
Friday, May 18, 2007

PRESIDENT Olusegun Obasanjo yesterday launched the Economic Community of West African States (ECOWAS) passport to be carried by citizens of member countries. The president also commissioned the national headquarters of the Nigeria Immigration Service (NIS) located at Sauka Village, Nnamdi Azikiwe Airport Road Abuja.

While launching the new passport in Abuja, Obasanjo said the need for a common passport for ECOWAS countries was initiated six years ago by members of the organization to pave way for easy transit and movement of people and goods across borders.

He said: “In six years back, we decided in ECOWAS that we are going to have ECOWAS common passport.”

The new passport came in two categories, one for official use and the second for diplomats.

He said: “When you look at the passport in front, there is the sign of ECOWAS, the emblem, and the country where the passport emanates from. And at the back, you will see the symbol of the country that owns that passport. And it will be the same standard, whether you have passport of Niger Republic, of Senegal, Benin Republic, or Ghana.”

He said the Nigeria’s passport is very unique because it is electronically compliant. “What is very unique on our own is that it has what you will call E-passport, electronic passport and it also have all the E-facilities. When your passport is passed through and it is not the right passport, you will not be able to get out. Anyone who carry counterfeit Nigerian passport will be jailed”

The Minister of Interior, Ambassador Oluyemi Adeniji said the passport was printed by the Irish smart Technology Limited, Malaysia, and will henceforth replace the old one.


He said: “NIS will start issuing it to represent the present machine readable passport. The advantage of the new passport will become self evidence when people start using it. We will start moping up the old passport which has affected our own either as a result of multiple issuances or as a result of forgery.”

He said it will be difficult for anyone to forge the new E-passport.

President Obasanjo, while commissioning the NIS headquarters emphasizes on the need for constant training of the NIS personnel. He said: “I want to also emphasize training because in a world that is becoming more and more globalize, more and more knowledge technological based, your people cannot afford to be far behind.”

The comptroller General of Immigration, Mr. Joseph Udeh said the contract for the construction of the headquarters was awarded to Eagle Construction Company with an initial contract sum of N492, 599, 81.50k and reviewed upward to the total contract sum of N785, 347, 309. 82k. “We have an outstanding balance to pay and we have gotten the due process for it.”

He said with the completion of the administrative headquarters, effort will be made towards the construction of other facilities in line with the NIS master plan.

Can't wait to get one:)

impressive to see the growth of the african nations. keep up the good work, guys!!:)

SE 9 i havent been home for a long time but the impression that i am getting is that the kenyan economy is not about to slow down it seems to me that we kenyans have realised that we have alot of catch up to do and that is getting people to work extra hard and a sence of trying to use the potential that we kenyans have both in the diaspora and in kenya, like the large mass of highly educated and skilled work force that is recognised by the world. my opinion? THINGS CAN ONLY GET BETTER ( my be iam too optimistic but i am and will try to do my part.):cheers1:

Algeria is poised to gain a foothold on the international capital market.
on Tuesday, May 22 @ 05:27:08 CDT

Even though Algeria is not in need, at present, of external financial outflows, its return on the international financial markets is deemed as a prerequisite.

This is likely to refurbish the brand image and the credibility of the Algerian economy, in the hope of attracting maximum foreign investors which could spawn further wealth and curb unemployment in the country.

This could, however, be achieved only through an official rating established by several major international credit rating agencies.

According to the latest report issued, of late, by the international monetary fund-IMF-, Algeria is keen on embarking upon such an endeavour.

To this effect, the reimbursement of a sizable part, by Algeria, of its external financial debt over the past few years could in itself be a positive factor in the current bid to secure a satisfactory rating.

The clearing of the debt will allow Algeria not only to have a foothold on the international market in good conditions but also to improve markedly one of the rating elements which characterize every borrower on the world financial market.

These ratings establishing the so-called “risk factor, are attributed by renowned rating bodies like “STANDARD and POOR’S,” MOODY’S” and “FITCH”.

According to the IMF, Algeria has, since 2004, reimbursed before due date an external financial debt package estimated at 14 billion dollars.

The outcome in terms of benefit for Algeria is that the debt report in relation to the gross domestic product plummeted from 34% in 2003 to 4.5% by the end of 2006. The IMF foresees that this rate will further go down to less than 3% of the gross domestic product by 2011.

All things considered, the repayment before due date of part of the external financial debt, makes Algerian economy less vulnerable to a possible slump in its overall oil revenues.

Algeria is thus contemplating to become a preferential creditor country and to snatch a solid foothold on the world capital market thanks to its financial solvency and its perky economy.

This is the outcome of a sound and reliable policy-line adopted in all sectors of activity notably in terms of job-creation and the various incentives to attract national and foreign investments through a new package of sweeping reforms.

Customs Union timetable unveiled
Story by MWANIKI WAHOME and LUKAS BARASA
Publication Date: 2007/05/24

Comesa Heads of State endorsed and unveiled a timetable for the adoption of a Customs Union as the 12th summit ended at Gigiri yesterday.

The common Customs Union is expected to come into effect on December 8, 2008.

President Kibaki and First Lady Lucy arrive for the Comesa Summit at Unep headquarters in Gigiri, Nairobi, yesterday.
and Industry minister Mukhisa Kituyi read the final joint communiqué.

The Heads of State adopted the four band common external tariffs (CET) structure that will remove tariffs on raw materials and capital goods, while intermediate goods will attract 10 per cent and final products 25 per cent. However, this will have provisions for national policy space and flexibility on specific limited products for competitiveness and revenue consideration.

Legal framework

Those countries that are not yet participating in the free trade area (FTA) are expected to conform before the December 2008. Six countries out of 19 have not entered FTA.

Seven countries are already implementing the CET, although they have not developed the necessary legal framework.

The Heads of State noted the rapid and sustained growth in intra-Comesa trade between 2005 and 2006 and commended member states for agreeing to remove the remaining non-tariff barriers.

It was agreed that the inaccessibly technical work and implementation modalities be finalised before the next summit to ensure the Customs Union is launched on schedule.

It was agreed the that member states complete the programme on trade and services to enhance growth of their economies.

Members that had not ratified the Comesa fund were urged to do so in order to benefit from the fund that is intended to assist the states to improve on their infrastructure and cushion others from the effects of adopting the regional trade policies.

The Comesa fund is a regional financing vehicle that receives all development funding for trade initiative, economic partnership agreement and other development assistant schemes.

The meeting endorsed the establishment of COMaid unit in the secretariat to undertake technical analysis and prepare a programme on how the states could access the available resources.

The initiative aims to assist the states to improve infrastructure, solve supply side constraints and mitigate against effects of economic and social adjustment, arising from implementation of bilateral, regional and multilateral trade agreements.

Should be transparent

The leaders called on the development partners to support the COMaid for trade programme that is to be launched this year.

The Heads of State reiterated that the World Trade Organisation (WTO) negotiations, that resumed this year, should be transparent, inclusive and open to all members.

They agreed on the speedy establishment of the Joint Competition Authority and commended the ongoing implementation of the Joint Air Transport Competition Regulations by comesa, South Africa Development Community SADC and East African Community (EAC).

Among the presidents present were Mwai Kibaki, Robert Mugabe (Zimbabwe), Ismail Guelleh (Djibouti), Paul Kagame (Rwanda) and Levy Mwanawasa (Zambia).

Others were King Mswati of Swaziland and first vice-president of Sudan Salva Kiir.

Meanwhile, the bloc’s business forum has recommended the introduction of penalties for countries that place illegal non-tariff barriers to block regional trade.

In an earlier interview, the Kenya Association of Manufacturers managing director, Ms Betty Maina, said there were several methods that some member states used to make it difficult to move goods across the boundaries.

Among these were demands for the trucks to be closed while transporting goods on transit. She said the nature of certain goods was that they had to be transported in open trucks.

The business forum wants the states to curb illegal cross-border trade and trade in counterfeit goods.

They also called for regional value chains in selected key sectors such as cotton, horticulture, leather and leather products and organic production. The other area with potential, they said, was trade in services.

Another area of concern was property rights and they recommended development of a Comesa protocol for dealing with the issue, and set the implementation date at July 1, 2008.

The business group further called for market intelligence, harmonisation of market and improvement of infrastructure as a priority.

The dissemination of information was pointed out as crucial, particularly on investment opportunities. Small and medium enterprises, they said, needed to be assisted with access to information.

Call for Africa to invest more in energy

Story by NATION Reporter
Publication Date: 2007/05/24

Africa needs to bridge the gap in electricity access between her and the Developed World, Kenya Electricity Generating Company (KenGen) CEO Eddy Njoroge said in Berlin on Monday.

Addressing the German World Bank Forum ahead of the G8 Summit, Mr Njoroge said the continent should create a conducive environment to attract investment in the development of the power sector, on a continent where tariff setting is still politically motivated.

Mr Njoroge, who was one of the key speakers at this year’s forum dubbed ‘Africa on the Rise’, told the conference that Africa was fraught with small power systems and small markets that limited profitable business ventures in the power sector, offering no economies of scale in large scale investments.

He noted that the required power capacity in Africa in the next 25 years would be huge, with additional generation capacity of 269 GW, which required an additional investment estimated at $563 billion, according to the International Energy Agency.

“The big question is: will Africa be able to meet this cost or afford tariffs which will amortise this investment?

Will it all be funded by governments or can the private sector meet this funding requirement?”

Mr Njoroge noted that after almost 20 years of power sector reforms in Africa, the gap is still wide, with low access levels, that are as low as 5 per cent for some countries.

But he pointed out that there were encouraging developments, with increased generation capacities, due to independent power producers; improved financial performance of power utilities; and improved governance of the sector.

Framework

He cited the case of Kenya, where much progress had been realised with the establishment of a legal and a regulatory framework, as well as fiscal incentives and guarantees for dispelling the risk for investors in the power sector.

“We in Kenya have also taken a people-centred approach that goes beyond technical issues, to deliver electricity that meets the people’s priorities.”

Mr Njoroge added that in Kenya, the power sector worked across all sectors, to integrate electricity more fully, into the country’s development processes.

The CEO concluded that there is room in Africa for public-private partnerships, through various options available.

^^
The continent is growing rapidly but I doubt if power supplies can keep up.

Algerian government negotiates investment projects totalling $12 billion

--------------------------------------------------------------------------------

The Algerian government is negotiating 16 investment projects totalling $12 billion for 2007, El Moudjahid reported Tuesday (May 22nd). The announcement was made by National Investments Development Agency (ANDI) General Manager Abdelmadjid Baghdadli. Without providing specifics on the projects, Baghdadi said that the national and foreign investments will cover numerous sectors, such as real-estate, tourism, desalination and the aluminium industry. He reiterated that ANDI studied 6,975 investment projects in 2006 worth an estimated at $10 billion, but projects worth only $1.6 billion were implemented. Algerian press cites United Nations Conference on Trade and Development (UNCTAD) reports as saying that foreign direct investments in Algeria increased by some $440 million in 2006 compared to 2005.

Speaking of energy...

Botswana: International Finance Capital Keen on Mmamabula

Mmegi/The Reporter (Gaborone)

23 May 2007
Posted to the web 24 May 2007

Gaborone

The president of CIC Energy, one of a number of power multinationals involved in the Mmmamabula Project, told a media briefing yesterday (Tuesday) that a bankable feasibility study to pave way for the financing of the project was being finalised.

Gregory Kinross said the study was being carried out by engineering firms and was looking at mine planning, power station design, water and environmental issues, among others. The Mmamabula Power Project will become Africa's biggest green fields energy scheme. Construction of Phase 1 is scheduled to start early next year after the project got a boost last March when CIC Energy Corp signed a project development agreement with International Power.


The latter has power plants either in operation or under construction in Australia, the US, the UK, the Czech Republic, Italy, Portugal, Spain, Germany, France, Turkey, Bahrain, Oman, Qatar, Saudi Arabia, the United Arab Emirates, Indonesia, Malaysia, Pakistan, Puerto Rico and Thailand.

Kinross, whose company has spent in excess of P200 million on the ambitious scheme thus far, said that many international financiers had already shown interest in lending money to the project.

It is estimated that the construction of Phase 1, which is projected to generate between 2 100 and 2 400 megawatts (MW) of power from a coal mine producing between 7.5 and 9.0 metric tonnes of coal annually, will cost in the region of $6 billion or P37 billion.

"We are well capitalised to take this project to production stage," Kinross said, adding that the project - which was also being financed with money raised from stock exchanges - had attracted the interest of international finance markets:

"There is a significant amount of appetite to fund the project. The Japan Bank for International Cooperation (JBIC), which was here early in the year at a project finance seminar, are eager to finance the project." Under Phase 1, the two partners - CIC Energy and International Power - will construct a coal mine and a power station over a four-year period.


At the same media briefing, Wynard Marais, who is the chief executive officer of Terra Mining, a subsidiary of CIC Energy, said production of coal for the power plant was scheduled to start in July 2011.

Marais said commercial operations of the power station would be commissioned in the first quarter of 2012.

The Mmamabula Power Project comes at a time when the southern African region is experiencing electricity shortages as South Africa's Eskom is unable to meet demand.

http://allafrica.com/stories/200705240114.html

Nairobi Stock Exchange among Africa’s top business entities

Story by JEFF OTIENO
Publication Date: 2007/05/28

The Nairobi Stock Exchange and two quasi-government companies have been named as some of the leading business entities in Africa.

The stock exchange (NSE) along with Kenya Electricity Generating Company (KenGen) and Kenya Commercial Bank were cited for their contribution in attracting investments and positively changing the image of the continent.

The three and other African companies, were selected after months of research conducted by Africa Investor — a specialist research firm that supplies investors and policy makers with information on Africa’s investment environment, and sheds light on issues that inform investment decisions.

The nominated companies will fight it out for the overall winners’ medals at a gala to be held at the London Stock Exchange, Britain, next month. The function will coincide with the G8 summit meeting scheduled for June 6-8, in Heiligendamm, Germany.

The function is expected to attract leading fund managers, investment banks, executives of stock exchanges, chief executive officers of African listed companies and members of Africa’s financial community.

The 33rd G8 summit will focus on global economic matters and poverty reduction. Protesters have vowed to disrupt the talks.

The G8 members are the United States, Canada, Britain, France, Italy, Germany, Japan and Russia. These countries represent 65 per cent of the world’s economy.

Best stock

The NSE shares the best stock exchange category list with Johannesburg, Mauritius, Cairo and Alexandria, Nigeria and Botswana.

It has already converted to an automated system as more initial public offers (IPOs) are expected to be launched by various companies in the near future.

The sale of KenGen shares was cited as one of the best IPOs along with those of Risma South Africa, Stanbic Bank Uganda, Dangote Sugar Refinery, Douja Promotion Groupe Addoha and Raubex.

The KenGen share offer attracted thousands of investors, resulting to oversubscription by 337 per cent or Sh18 billion in the market, and was considered one of the major boosters at the bourse.

In the best performing Ai 40 company category, KCB was listed along with Orascom construction, West Africa Portland Cement, MTN Group, United Bank for Africa and Anglo American.

Africa Investor said time had come to invest in the continent, adding that African stock exchanges had provided impressive 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,” the research organisation said.

The Africa Investor index awards recognise stock markets, listed companies, fund managers, stockbrokers and analysts in Africa.

The Ai40 is a weekly index that measures value of trade and market capitalisation.

Base value

It captures the largest and most liquid publicly traded stocks across Africa, by ranking them by market capitalisation and liquidity, as measured by the average daily value, traded in US dollars.

The index was launched on December 30, 2005, at a base value of 100. The African Investor research agenda is guided by events shaping business confidence in Africa.

Kenya says economy grew 6.1% in 2006

Story by LUCAS BARASA and GEORGE OBULUTSA
Publication Date: 5/28/2007

Kenya's economy grew 6.1 per cent in 2006 up from 5.7 per cent the previous year, according to a Government survey.

Results of the 2006 Economic Survey were released in Nairobi by the Minister for Planning, Mr Henry Obwocha.

He listed sectors that drove the growth as transport and communication, hotels and restaurants, retail trade, building and construction and agriculture.

The minister said they expected economic expansion of between 5.8 and 6.5 per cent this year.

Mr Obwocha said overall inflation rose to 14.5 per cent in 2006, from 10.3 per cent the year before due to high international oil prices and drought in the first quarter of the year.

Underlying inflation, which excludes food prices, fell to 5.5 per cent from 7.4 per cent in 2005.

The survey suggested the inflation rate would drop this year helped by lower food prices and a stable economic environment.

Mr Obwocha said Government revenue was expected to increase to Sh401.5 billion (US$6 billion) in 2006/07, from Sh336.8 billion previously.

The survey said 469,000 new jobs were created in 2006 from 458,900 jobs in 2005, mostly in the informal sector.

Widespread unemployment is often cited as a major negative for Kibaki's Government, which promised to create 500,000 jobs annually.

The trade deficit widened to Sh270.49 billion in 2006 from a revised deficit of Sh182.67 billion in 2005, the survey said.

* Additional reporting by REUTERS

CNBC to Launch African Channel From Friday

Ethiopian Herald (Addis Ababa)

30 May 2007
ENA
Addis Ababa

CNBC Africa, Sub-Saharan Africa's first 24-hour, live international business news channel, will begin broadcasting from its new Johannesburg headquarters beginning Friday, Xinhua reported from Johannesburg citing the company.

The latest affiliate of CNBC, the US-based global business news channel, CNBC Africa will "focus on Africa's business markets and provide global business and economic news from an African perspective."


"We will broadcast local content from our studio in Johannesburg, and will take feeds from our bureaux in Lagos, Abuja, Nairobi and Cape Town," Trevor Ormerod, Chief Operating Officer of CNBC Africa, said in a press release Monday.

Ormerod added that further bureaux in Africa will be established on a roll-out basis.

"We will broadcast 24/7, with nine hours of local programming, cutting across to our international affiliates at key times throughout the day for market updates and breaking news," he said.

Regional programming will include in-depth analyses of regional and major international stock exchanges and currency markets, regular business and political updates, interactive talk shows that encourage debate and lifestyle programming tailored for African audience, he said.

Peter Ndoro, head of communications for the channel, said the channel will be filling a critical need for real-time news, analysis, commentary and programming on the continent.

"For the first time, viewers across the continent will be able to track key African markets such as South Africa, Nigeria and Kenya," he said.

The global CNBC network reaching 200 million households across the world will also provide resources that are needed by African viewers, he said.

"This is the first channel of its kind that caters to the information needs of the average viewer, as well as to business and investment communities, by providing meaningful analysis behind the headlines, relating to how current events can impact our lives," said Zafar Siddiqi, Chairman of CNBC Africa.

Siddiqi said the channel's aim is to provide a platform for the ongoing inter-African discussion on globalization, employment, career, business and investment opportunities, living standards, infrastructure development and other relevant issues.

IMF backs 6.5 p.c. growth forecast for Kenya

Story by NATION Reporter
Publication Date: 6/01/2007

The International Monetary Fund has backed Treasury’s forecast of a 6.5 per cent economic growth rate for this year. The recently concluded IMF mission agreed with the Kenyan authorities that the economy was performing strongly.

This verdict comes after similar sentiments were expressed by the World Bank, giant bottler Coca-Cola and retail chain Nakumatt.

Kenya’s economy grew at 6.1 per cent last year and is set to expand by 6.5 per cent in the backdrop of good performance by sectors like tourism, retail and agriculture.

“The rate of real GDP growth is projected to rise for the fourth consecutive year in 2006/07. We broadly share the authorities’ outlook for the economy in 2007/08, with real GDP growth projected at over 6 per cent,” said a statement posted on its web site.

It was issued in Nairobi on May 29 by IMF resident representative Scott Rogers.

The IMF mission visited Nairobi on May 16-25 to discuss recent economic developments and fiscal and monetary policies for 2006/7.

The group met Finance minister Amos Kimunya, Central Bank governor Njuguna Ndung’u and senior officials from the Ministry of Finance and Central Bank of Kenya.

Others were representatives of civil society, and the business and donor community.

The discussions followed the conclusion of second review of the Government’s economic programme being supported by the IMF’s Poverty Reduction and Growth Facility (PRGF).

Fund officials said the talks made headway on crafting of a budget that maintained strong revenue performance and further re-orienting of spending toward priorities in health, education and infrastructure.

This would help lay the foundation for the Government’s Vision 2030 while limiting domestic borrowing to contain pressure on interest rates, it said.

Mr Kimunya is set to read the budget on June 14 with concerns rising about the Treasury’s penchant for raiding money markets for cash.

The impact has been to crowd out private borrowers from the market — through higher interest rates — as the Government has the highest credit rating.

The IMF team noted that inflation had slowed in recent months as effects of drought wore out. It said good performance had been supported by a prudent fiscal policy.

The mission supported the CBK policy objective of keeping overall inflation low through more effective use of monetary instruments.

HARARE, Zimbabwe: Government officials are pinning their hopes for economic recovery on a “social contract” signed between the state, labor and business to tame inflation to double digits by the end of the year, state radio reported on Saturday. If targets are met, annual inflation could be brought down to 25 per cent by January, from the current official rate of 3,714 per cent, the highest in the world, it said.

The deal, sealed after four months of talks among the three groups, was expected to be met with skepticism, as was a program announced last month by the government to cut inflation to single-digit levels by setting up a new prices commission.

Private financial firms estimate real inflation, taking into account goods not included in the government’s calculations, exceeds 5,000 per cent and at present trends would likely reach 8,000 per cent by the end of the year, making its reduction impossible without dramatic policy changes outside any cooperation partnership.

The social contract signed in Harare on Friday gave obligations to the three “social partners” to fight corruption and profiteering and observe restraint over price increases and wage demands. The government would review its public spending to bring down its budget deficit and take steps to improve economic management.

UN Award Recognizes Population Efforts in Iran, US, Algeria, Malaysia

Four laureates - from Iran, the United States, Algeria and Malaysia - today received the United Nations Population Award at a ceremony in New York.

"Today, we celebrate outstanding contributions to the awareness of population questions or to their solutions," Deputy Secretary-General Asha-Rose Migiro <"http://www.un.org/News/Press/docs//2007/dsgsm323.doc.htm">told participants.

"And we recognize individuals and institutions who, through their work and achievements, are at the forefront of human progress and development," she added.

Dr. Hossein Malek Afzail of Iran, Allan Rosenfield of the United States, Le Comit� National de Population of Algeria, and the National Population and Family Development Board of Malaysia shared this year's Award.

Praising their accomplishments, Ms. Migiro noted that the awardees are "leaders not only on population issues, but also in our race to the Millennium Development Goals, especially the eradication of extreme poverty and hunger," referring to the eight global development targets to be achieved by 2015.

For the first time in its 17-year history, the Award is being bestowed upon four laureates - selected by the Population Award Committee, which is administered by the UN Population Fund (<"http://www.unfpa.org/">UNFPA) and comprises 10 Member States elected by the Economic and Social Council (ECOSOC) - instead of two, one each in the individual and institutional categories.

Dr. Rosenfield, a Columbia University professor, co-wrote a seminal paper on maternal death and as a result, the Bill & Melinda Gates Foundation established the Averting Maternal Death and Disability programme which supports projects in 50 countries.

Dr. Afzali works in Iran's Ministry of Health and Medical Education, and has helped design strategies to improve health procedures, particularly adolescent health, reproductive health and family planning.

In the institutional category, the Algerian National Population Committee was honoured for its advocacy for a strategic population policy in Algeria, and the National Population and Family Development Board of Malaysia has pushed for socio-demographic research and monitors population trends to create awareness among policymakers.

"Their work highlights the importance of empowering people in the most basic areas of their lives: planning or managing pregnancies, limiting unsafe abortions, practicing responsible sexual behaviour and reversing the deadly tide of AIDS," Ms. Migiro said at the ceremony. "These are the most crucial milestones on the road to prosperity. They remain the ultimate measures of human progress."

In another address, the Deputy Secretary-General underscored that much remains to be done to achieve the Millennium Development Goals (MDGs).

"Some progress has been made, and there are clear signs of hope," she said yesterday in New York, in an address to the 20th annual meeting of the Academic Council on the United Nations System.

"But we still have a long way to go to fulfil the vision underpinning the Millennium Development Goals - a vision of a world with less poverty, hunger and disease; with greater survival prospects for mothers and their infants; with better educated children; with equal opportunities for women; and with a healthier environment," she added.

She observed that Governments have already made "impressive commitments" to support the attainment of the MDGs, and she said that "concerted action now" is crucial in such areas as poverty, health, and education, among others, as this "may mean the difference between success and failure in achieving these critical targets."

Ms. Migiro stressed that rapid progress is a definite possibility when backed by "firm commitments, sound strategies and adequate financing."

Source: United Nations

http://www.afrol.com/articles/25697

Fortune hunters eye Western Sahara oil riches

http://www.afrol.com/images/symbols/wsa_kosmos_oil.jpg

9 June - Following pressure from the UN and pro-Sahrawi activists, most serious oil companies pulled out of Moroccan-occupied Western Sahara. But now, a new group of fortune hunters is eying great financial opportunities in the probably oil-rich territory, ignoring international law. Investors from Ireland, Saudi Arabia, South Africa, the US and Sweden hide behind a jungle of interwoven small companies.

Moroccan authorities currently have granted two oil exploration licences on the disputed territory of Western Sahara, despite a legal notice from the UN in 2002 questioning the legality of such exploration and concluding that further oil exploitation in all circumstances would be illegal as long as Western Sahara remains occupied.

Offshore, most exploring companies gave up their Western Sahara activities a few years ago, following the conclusion that their legal base was questionable. But TGS-Nopec and Kerr-McGee nevertheless managed to produce detailed maps on potential oil deposits off the coast of Western Sahara.

These data and their processing have now been sold to the US-based Kosmos Energy for around US$ 2 million. Kosmos Energy on 3 May 2006 signed an agreement with the Moroccan government, assuming operatorship of the Boujdour offshore blocks 1-23 and last month, the company published its plans for its Boujdour concession, shocking pro-Sahrawi activists with an announcement it was to install a first-ever exploration well offshore Western Sahara in 2009.

The geological and seismic mapping of the Boujdour blocks had revealed the best possible chances of finding large oil reservoirs offshore Western Sahara. Data showed Jurassic and Cretaceous "potential source rocks" that have proven oil-rich on other locations, in addition to a great number of potential oil catchment areas and "very large structural closures" potentially hosting large oil reservoirs.

Kosmos Energy, in its search for investors, presents its operations as a "company-making frontier exploration opportunity," saying the Boujdour operations involve a "high risk" but potentially a "very high reward."

Currently, Kosmos Energy has its own peculiar assessment of the political risk of exploiting Western Sahara offshore oil reservoirs. The company points to "substantial recent progress in resolving the political situation" in the UN, where all other analysts speak of a deadlock between Moroccan and Sahrawi positions. But other - larger - companies are constantly assessing the balance of political risk contra potential revenues.

Sources from the Spanish offshore sector that spoke to afrol News on conditions of anonymity say that companies that were forced to withdraw from Western Sahara offshore operation in 2003-05 due to international pressure have signed secret agreements with the Moroccan oil company ONHYM (formerly Onarep). These agreements would allow for their quick return as soon as the political situation improves or as major operations by other companies start on these fields. Especially Total (formerly TotalFinaElf), which withdrew in November 2004, was mentioned as a company having secured contracts assuring their quick return to Western Sahara.

Sector insiders do not rule out that the small and rather unknown companies operating in Western Sahara are indeed acting on behalf of the more established oil multinationals. While pro-Sahrawi activist Ronny Hansen warns that "the moment Kosmos starts drilling, it will probably have to face legal action", some insiders assume that this is exactly what the sector wants to achieve. Kosmos and its investors may thus be the legal test case for larger companies. This may be where the company's "high risk/very high reward" announcement has its base, as analysts agree that the oil potential of the Boujdour block is already proven.

Onshore, the situation is even more dominated by small and interwoven companies and fortune hunters - or "reckless cynics" as Mr Hansen, chairman of the Norwegian Support Committee for Western Sahara calls them.

In December 2006 three companies were awarded an exclusive 12 month reconnaissance licence in the Zag Basin (also known as Tindouf Basin) close to the Western Sahara desert town of Smara. The three are Ireland-registered Island Oil & Gas, Moroccan-registered San Leon and the rather unknown, Jersey-registered GB Oil & Gas Ventures. Among these three mini-companies, Island Oil is the main player, controlling most activities by the two other partners.

The Smara area is "virtually unexplored," according to the companies. But San Leon confirms that there has been made one gas discovery and some "strong oil shows" in the area - although it is unsure whether these discoveries are located on the Moroccan or Sahrawi side of the dysfunctional border. On the Algerian side of the border, gas and oil discoveries have been made under similar geological conditions.

Compared to the renowned potential of the Zag Basin, the players are small and odd. GB Oil is generally unknown to the sector and does not even have a website. San Leon only presented itself to investors on the Internet a few months ago but remains virtually a one-man company, run by Philip Thompson.

Mr Thompson, a US businessman, registered San Leon in Morocco in 2002. But Sahrawi activists researching the experienced geophysics' background hold San Leon is only a stooge for Island Oil. Mr Thompson is said to be "employed by and reports directly to Paul Griffiths, CEO of Island Oil." He is also the one who signed Island Oil's contract in Morocco.

But also the Island Oil & Gas - which only was registered in Ireland in 2003 and has offshore interests in Ireland and the Netherlands - is full of surprises. Carl Kindinger, the company's non-executive director, is based in Saudi Arabia and Island Oil's main Saudi backer, Badr Al-Aiban, owns around 30 percent of company shares. Mr Al-Aiban is known for his earlier dealing with Afghanistan. Platinum Petroleum controls 34 percent of Island Oil and is also based in Saudi Arabia.

Equally surprising is the South African and Swedish involvement in Island Oil, given the strong pro-Sahrawi support by the governments of those two countries. RMB Resources, part of the First Rand Group of South Africa, directly financed Island Oil's expansion into Western Sahara in December 2006. Meanwhile, Sweden's Lundin Petroleum holds a 5.3 percent stake in Island despite the Stockholm Foreign Ministry's insistence on the respect for international law in Western Sahara. Sweden opposed the EU fisheries agreement with Morocco in 2006 on such grounds.

As the new engagements in Western Sahara start to get known, the Western Sahara solidarity movement and the exiled government of Western Sahara are planning their next moves. Mr Hansen of the Norwegian Support Committee for Western Sahara said that the first priority of the international network Western Sahara Resource Watch (WSRW) is to inform the public and the governments of Sweden and South Africa to assure disengagement from Lundin and RBM Resources, and that other investors also would be contacted. He would not rule out that legal steps might be taken against all or any of the involved foreign companies.

Ahmed Boukhari, the Representative of the Sahrawi government to the UN, today told afrol News that "we condemn any attempt of any foreign companies to get involved through the Moroccan occupying power in the exploitation, extraction or commercialisation of Western Sahara resources." He pointed to the UN's 2002 legal opinion, considering illegal any exploitation of Western Sahara resources.

The exiled Sahrawi government has also started issuing exploration licenses to foreign oil companies for future engagement in the territory. But "we prefer that any potential interest in our resources be delayed until the legal, just and lasting resolution of the conflict, so as to know which authority is legal and legitimate to engage in signing contracts with foreign companies," Mr Boukhari concluded.

Nigeria:kano state National Trucks Manufacturing company Recruits 300 Indigenes

Daily Trust (Abuja)

3 June 2007
Posted to the web 4 June 2007

Yusha'u A. Ibrahim

Over 300 workers mostly indigenes of Kano have so far been recruited by the National Trucks Manufactures (NTM) since the company resumed full production after it was privatised.

The company secretary, Mr. Prince S.O. Itabiyi, who disclosed this to newsmen at a worker-worker episode organised by the office of the Bureau of Public Enterprises (BPE),"When the company was taken over by the investors in 2004, they found only dust and bush in the company, but now we are assembling 15 different cars and motorcycles in the company."
over 300 workers are enjoying full salaries in addition to the loan scheme that was introduced by the NTM.

Mr. Prince further stated that presently, the company is operating under three production lines unlike before where the company was operating two ineffective production lines.

He pointed out that the Kano state government has assisted the company with groundnut oil worth N34 million, the gesture which he said had greatly boosted the activities of the company.

Emerging Nations at G-8 Summit

Berlin, Jun 8 (Prensa Latina) The Group of Five expresses at its meeting with the most industrialized Western countries on Friday the very pressing nature of a real fight against poverty and famine in the world, and insists on more equity in international trade as defense against developing countries.

In a special session in the framework of the Group of Eight Summit (G-8), the western heads of State decided to meet today with their peers of China, India, South Africa, Mexico and Brazil to discuss the general guidelines of globalization, financial aid to Africa, and western investments.

The presidents of the developing countries held bilateral contacts near the G-8 summit to agree common positions and strategies before meeting with the G-8 representatives.

The summit of the world s seven most industrialized countries, plus Russia concludes on Friday, with a session on Africa, and a meeting with the five emergent countries.

US President George W. Bush did not attend the first session as he was indisposed, but he met with his French peer, Nicolas Sarkozy for an hour.

In the work meeting with representatives of Egypt, Ghana, Algeria, Nigeria and Senegal, the G-8 talked about of its new financial aid program for Africa, valued at 60 billion dollars, to fight AIDS, malaria, and tuberculosis.

Addressing public television, German Development Minister Heidemarie Wieczorek-Zeul said the US has committed to assume half of that sumit


http://www.plenglish.com/pictures/jun07/algerian-germany.jpg

Kenya returns to 1960s growth rate

Story by MUNA WAHOME
Publication Date: 6/14/2007
Despite the smirk on Finance minister Amos Kimunya’s face today, as he talks of renewed economic growth, he would be well advised that these are the same rates at which the country grew between 1964 and 1973.

That was even before the calculation criteria were revised in favour of the current Government. Indeed the counsel might come from sources nearer him than expected.

“In the first decade of independence (1964-73), the economy performed relatively well with an average growth rate of about six per cent.

Then came the oil shocks of 1973 and 1979 compounded by bad policies,” says Explaining African Economic Growth: The Case of Kenya. The paper was co-penned by researchers Francis Mwega of the University of Nairobi and the current Central Bank governor Njuguna Ndung’u. However, the Medium Term Strategy Paper released on Tuesday expects this growth to be surpassed, eventually peaking at 10 per cent in 2010.

It was agriculture (and agro-processing), which mainly steered the economy, and economists ever since have noted a correlation between the sector and economic growth; both have declined progressively since 1950s.

In the same period, the Government spent heavily on public works and in incentives for the industry. This was the time of import-substitution — where the focus was avoidance of imports to save forex and generate employment. The Government at that time supported agriculture development through Agriculture Development Corporation and the Agriculture Finance Corporation, and even guaranteed minimum returns, all of which have since gone with wind.

By the time President Moi left power in 2002, the development finance institutions had gone the same way, leaving the industries at the mercy of commercial banks.

With liberalisation and globalisation, these industries have found themselves growing irrelevant as high cost of production, buoyed by poor infrastructure, overshadowed that of Asian economies.

There was nil support for agriculture in terms of policies or credit.

Institutions established in the first decade slowly collapsed through the 1980s including Kenya Co-operative Creameries, Kenya Planters’ Co-operative Union and smaller societies. Agricultural marketing boards like Coffee Board of Kenya just survived to milk resources from the Government and farmers.

In the past two and a half decades before Mr Moi left, there was little investment in energy, road, marine, telecommunications, utility and other infrastructure. Tax evasion was State-decreed, and poverty levels shot up phenomenally to peak at 56 per cent in the rural areas. Several multinationals quit and massive lay-offs were experienced across sectors. Things, however, began changing in 2005 when Kenya attained growth of 5 per cent. This has put the economic growth at per with that of the region.

The Government notably has made interventions in agriculture, especially agro-processing, where KCC and Kenya Meat Commission have been revived. Maize farmers have been paid a premium while coffee and sugar industries have benefited from State cheques. The multiplier effect has been sprouting of cottage industry and increased incomes by farmers. Tourism which collapsed in 1997 after the Likoni political clashes has been resurgent and affected almost all other sectors.

Public construction has resumed and the roads are getting tarmacked, some after over 20 years of neglect. Telecommunications are booming with liberalisation of the industry commenced in the Moi era while transport is on a roll as the economies around the country grow.

Sudan Dar oil terminal open, exports 200,000 bpd
Sunday 10 June 2007 09:53.

June 10, 2007 (KUALA LUMPUR) — Sudan’s exports of Dar Blend crude are running at full throttle of 200,000 barrels per day (bpd) after opening a new export terminal, Sudan Energy and Mining Minister Awad Ahmed al-Jaz told Reuters on Sunday.

"The new terminal is up and running, and exports are at 200,000 barrels per day (bpd)," he said. He also repeated that total Sudan production was running at 500,000 bpd.

He said that Sudan expected to sell its share of the Dar Blend production via tenders held every three months. Swiss-based oil trader Vitol won an initial contract in 2005 to market the acidic grade, which trades at a large discount to Brent.

Jaz said that talks over building a new refinery with Malaysia’s state oil firm Petronas were progressing.

"Discussions are going on. We have not finalised it yet," he said, adding that the refinery would have a capacity of 175,000 bpd, larger than the 150,000 bpd estimate given on Friday by Petronas CEO Hassan Marican.

When the deal was first agreed almost two years ago, the plant was planned at 100,000 bpd with a price tag of $1 billion. Jaz said that the plant would now cost more amid industry-wide cost inflation, but could not give a figure.

Dar Blend exports have been constrained since production began over a year ago as they have been diverted to Sudan’s older terminal, which already ships about 300,000 bpd of Nile Blend.

In March, as traders waited for news of when the delayed terminal would ready, port sources said the country was only exporting about 160,000 bpd of Dar Blend. Sources said the delay was caused by slow progress on a new pipeline.

The Dar Blend field is operated by Petrodar, a consortium comprising China National Petroleum Corp. (CNPC) with a 41 percent stake, Malaysia’s Petronas [PETR.UL] with 40 percent, and state oil firm Sudapet with 8 percent.

China Petroleum & Chemical Corp. (Sinopec) holds 6 percent of Petrodar, while Al Thani Corp., a private company incorporated in the United Arab Emirates, owns 5 percent.

(Reuters)

Africa's Economy Growing But Still Trails World Growth

The World Economic Forum for Africa has opened its annual meeting to mixed news about the state of business on the continent. Africa is experiencing its greatest growth since the 1970s, but it isn't growing fast enough to eliminate poverty, and Africa continues to trail other regions in the global marketplace.

More than 800 business and political leaders have gathered in Cape Town to take stock of Africa's business climate and develop strategies to improve the continent's performance.

After decades of stagnation, Africa's economy is poised to grow by an estimated 6.2 percent this year. South Africa's president Thabo Mbeki opened the forum on an optimistic note.

"In many ways it's not a poor continent," he said. "It's a continent that is catching up with the world."

Economists say powerhouse countries, such as South Africa, Algeria, and Nigeria, are able to compete in the global marketplace. But 25 other countries that were analyzed for the forum's Africa Competitiveness Report lag behind the rest of the world. Economist Jennifer Blanke co-authored the study.

"Although improvements are being made in Africa, and there's no doubt that the macroeconomic environment is looking better and better, the problem is that the rest of the world is moving faster," she said. "Asian countries are just flying by, developing Asia. "

Experts at the forum note that Africa's current growth spurt is fueled largely by external factors, such as the high price of natural resources like minerals and petroleum and international debt relief.

They say sustainable growth will depend on internal factors like better infrastructure, improved governance, better schools, streamlined business laws and lower levels of corruption.

Delegates from India and China are attending the forum to offer advice about how to reach the higher levels of growth their countries enjoy.

"One of the important aspects that has fueled the growth in India has been a large domestic market," said Malvinder Singh, the Chief Executive Officer of Ranbaxy Laboratories in India. "And if you look at Africa as one marketplace and create a harmonized marketplace, I certainly believe it's large enough to have a lot of competitive growth in terms of products and services."

Not all business leaders believe Africa can copy the successful strategies of India and China. Among the skeptics is one of South Africa's leading business figures, Tokyo Sexwale.

"There is nothing for Africa to replicate or duplicate. Africa will have to find its own way," said Sexwale.

Sexwale notes that Africa contains more than 50 countries that must learn to work together to compete in the global economy. The Economic Forum continues through Friday. - VOA News

Tullow, Anadarko make big Ghana oil find

http://africa.reuters.com/business/news/usnBAN.html

Mon 18 Jun 2007, 9:12 GMT
[-] Text [+]

By Tom Bergin

LONDON (Reuters) - London-based Tullow Oil Plc announced the discovery of up to 600 million barrels of high-quality oil at a block in Ghana owned with Anadarko Petroleum Corp., sending Tullow shares up over 10 percent.

Tullow also said in a statement on Monday the structure it successfully drilled in the West Cape Three Points Block extended into an adjacent exploration block, which Tullow also co-owns with Texas-based Anadarko, suggesting further potential upside for the partners.

Tullow's exploration boss, Angus McCoss, told a conference call the company had been targeting recoverable reserves of only 250 million barrels at the West Cape Three Points Block but now hoped for 600 million.

Industry sources said that, based on the drilling data, the block was likely to contain at least 300 million to 400 million barrels.

Tullow shares were up 9.9 percent at 449-1/2 pence at 0929 GMT, compared to a 0.04 percent dip in the DJ Stoxx European oil and gas sector index.

KBC Peel Hunt raised Tullow to "hold" from "reduce".

"The discovery of oil in the Mahogany well represents a major event for the Republic of Ghana and for Tullow," Chief Executive Aidan Heavey said in the statement.

Dallas-based Kosmos Energy, which is backed by private equity, operates the West Cape Three Points Block. Tullow has a 22.9 percent stake, while Anadarko owns 30.9 percent.

Tullow has a 49.95 percent stake in the adjacent Deepwater Tano Block, while Anadarko owns 18 percent.

Failed States Index 2006

LOTS OF AFRICAN STATES ON THIS LIST TOP THIS LIST

The Twelve Indicators:
I 1 - Mounting Demographic Pressures
I 2 - Massive Movement of Refugees and IDPs
I 3 - Legacy of Vengeance - Seeking Group Grievance
I 4 - Chronic and Sustained Human Flight
I 5 - Uneven Economic Development along Group Lines
I 6 - Sharp and/or Severe Economic Decline
I 7 - Criminalization or Delegitimization of the State
I 8 - Progressive Deterioration of Public Services
I 9 - Widespread Violation of Human Rights
I 10 - Security Apparatus as "State within a State"
I 11 - Rise of Factionalized Elites
I 12 - Intervention of Other States or External Actors

Click on a column header to sort by that column
Rank Country I 1 I 2 I 3 I 4 I 5 I 6 I 7 I 8 I 9 I 10 I 11 I 12 Total
1 Sudan 9.6 9.7 9.7 9.1 9.2 7.5 9.5 9.5 9.8 9.8 9.1 9.8 112.3
2 DRC 9.5 9.5 9.1 8 9 8.1 9 9 9.5 9.8 9.6 10 110.1
3 Cote d'Ivoire 8.8 7.6 9.8 8.5 8 9 10 8.5 9.4 9.8 9.8 10 109.2
4 Iraq 8.9 8.3 9.8 9.1 8.7 8.2 8.5 8.3 9.7 9.8 9.7 10 109
5 Zimbabwe 9.7 8.9 8.5 9 9.2 9.8 8.9 9.5 9.5 9.4 8.5 8 108.9
6 Chad 9 9 8.5 8 9 7.9 9.5 9 9.1 9.4 9.5 8 105.9
7 Somalia 9 8.1 8 7 7.5 8.5 10 10 9.5 10 9.8 8.5 105.9
8 Haiti 8.8 5 8.8 8 8.3 8.4 9.4 9.3 9.6 9.4 9.6 10 104.6
9 Pakistan 9.3 9.3 8.6 8.1 8.9 7 8.5 7.5 8.5 9.1 9.1 9.2 103.1
10 Afghanistan 7.9 9.6 9.1 7 8 7.5 8.3 8 8.2 8.2 8 10 99.8
11 Guinea 7.5 7.2 8.1 8.4 8 8 9.1 9 8.1 8.1 9 8.5 99
12 Liberia 8 9.3 7 7.1 8.6 8.9 7.8 9 7.2 7.3 8.8 10 99
13 Central African Republic 9 7.7 8.8 5.5 8.5 8.1 9 8 7.5 8.9 8 8.5 97.5
14 North Korea 8 6 7.2 5 9 9.5 9.8 9.5 9.5 8.3 8 7.5 97.3
15 Burundi 9 9.1 7 6.7 8.8 7.8 7.2 8.5 7.5 7.3 7.8 10 96.7
16 Yemen 7.8 6.7 7 8.2 9 7.8 8.8 8.2 7.2 9 9.4 7.5 96.6
17 Sierra Leone 8.5 7.9 7.1 8.9 8.7 9 8 8 7 7 7.7 8.8 96.6
18 Burma/Myanmar 8.9 8.8 9 6 9 7.1 9.2 8.2 9.8 9 8 3.5 96.5
19 Bangladesh 9 5.8 9.5 8.5 9 7 9 7.5 7.8 8.3 8.9 6 96.3
20 Nepal 8.5 4.8 9.2 6 9.2 8.5 9.2 6.2 9.1 9 9 6.7 95.4
21 Uganda 8 9.2 7.8 5.7 8.4 7.5 8 8 8 8.5 7.9 7.5 94.5
22 Nigeria 8 5.9 9.1 8.5 9 5.4 9 8.3 7.1 9.2 9 5.9 94.4
23 Uzbekistan 7.7 5.8 7.5 7.5 8.1 7 9.3 7 9.3 9.1 9.1 7 94.4
24 Rwanda 9.5 7 9 8.2 7.2 8 8.7 6.9 7.7 5 8.9 6.8 92.9
25 Sri Lanka 8 8.2 9.1 6.7 8 5.7 8.6 7 7.2 8.5 8.9 6.5 92.4
26 Ethiopia 9 7.6 7 7.5 8.5 8 7.6 6.2 8 7.5 8.7 6.3 91.9
27 Colombia 7 9.1 7.4 8.5 8.5 3.2 8.7 6.5 7.6 9 9.2 7.1 91.8
28 Kyrgyzstan 8 6.6 7 7.5 8 7.5 8.3 7.3 7.9 8.3 7.9 6 90.3
29 Malawi 9 6 6 7 8.8 8.8 8 9 8 5.5 6.7 7 89.8
30 Burkina Faso 9 5.9 6.5 6.6 8.8 8.2 7.8 8.4 6.5 7.6 7.7 6.7 89.7
31 Egypt 8 6 8.5 6 8 7 9 7.3 8 6.5 7.7 7.5 89.5
32 Indonesia 7.5 8.2 6.3 8.3 8 6.8 6.7 7.2 7.5 7.5 7.9 7.3 89.2
33 Syria 7 7.1 8 6.8 8.9 6.5 9 5.5 9 7.5 7.1 6.2 88.6
34 Kenya 9 7.1 6.7 8 8 6.8 7.3 7.2 6.9 7 7.6 7 88.6
35 Bosnia and Herzegovina 6.5 8.5 8.6 6 7.3 6.2 8.1 5.8 5.3 7.5 8.7 10 88.5
36 Cameroon 6.5 6.8 6.5 8 8.7 6 8.5 8 7.2 7.6 7.9 6.7 88.4
37 Angola 8 8.5 6.3 5 9 4.9 8.8 7.6 7.8 6.8 8 7.6 88.3
38 Togo 7 5.8 6 6.5 7.5 8 8.7 8.1 8.1 8.1 7.8 6.7 88.3
39 Bhutan 6 8.1 7 6.7 9 8 8.4 6 8.6 5 8.4 6.7 87.9
40 Laos 8 5.9 6.3 6.6 5.9 6.5 7.9 8 8.2 9 8.9 6.7 87.9
41 Mauritania 9 5.9 8.5 5 7 7.8 7.1 8.2 7.1 7.6 7.9 6.7 87.8
42 Tajikistan 7 6.6 6.2 6.5 7.4 6.8 8.9 7.5 8.6 7.5 8.7 6 87.7
43 Russia 8 7.2 8 7 8 3.7 8.2 6.9 9.1 7.5 9 4.5 87.1
44 Niger 9.4 4.3 8.5 6 7.2 9 7.9 8.5 6.5 6.7 6 7 87
45 Turkmenistan 7 4.2 5.2 6 7.2 8 9.1 7.2 9.7 8.5 8 6 86.1
46 Guinea-Bissau 7 4.9 5.5 7 9.3 7.4 7.8 8 7.9 7.5 6.5 6.6 85.4
47 Cambodia 7.5 6.5 7 8 7.2 6 7.8 7.5 6.9 6.7 7.5 6.4 85
48 Dominican Republic 7.8 7 6.5 8.5 8 6 6.2 8 7.1 7 7.4 5.5 85
49 Papua New Guinea 8 2.5 8 8 9 7 7.8 8 6.1 7 6.7 6.5 84.6
50 Belarus 9 5.1 5.5 3.5 8.5 6.3 9 7.5 7.3 6.8 8 8 84.5
51 Guatemala 8.7 6 7.1 6.7 8 7.1 7.5 7.1 7.1 7.5 6 5.5 84.3
52 Equatorial Guinea 7 2 6.7 7.5 9 4 9 8 8.5 8.3 8 6 84
53 Iran 6.5 8.7 6.9 5 7.5 3 8.1 6.1 9.1 8 8.8 6.3 84
54 Eritrea 8 7.2 5.4 6 6 8 8 7.3 6.8 7.2 7.5 6.5 83.9
55 Serbia and Montenegro 5.7 8.5 8.6 5.5 8 6.5 7.8 5 5.6 6.5 8.6 7.5 83.8
56 Bolivia 7.5 4 7 7 8.8 6.2 7 7.8 6.7 6.5 8.4 6 82.9
57 China 8.5 5.1 8 6.6 9.2 4.5 8.5 7.3 9 5.5 8 2.3 82.5
58 Moldova 7 4.7 7.3 8 7.5 7.5 7.4 7 6.8 5.5 6.8 7 82.5
59 Nicaragua 6.5 5.5 6.4 7.1 9 8.5 7.3 7.2 5.7 6.5 7 5.7 82.4
60 Georgia 6 6.8 7.4 6.1 7 5.5 7.7 6.3 5.6 8.1 7.1 8.6 82.2
61 Azerbaijan 6 8.1 7.3 5 7.5 5.9 8.1 6.5 6 7 7.5 7 81.9
62 Cuba 7.5 4.7 5.5 6 7.9 6.5 7.8 4 8.3 8 8 7.7 81.9
63 Ecuador 6 5.6 6.8 7.1 8 5.2 8.3 7.4 6.7 6.8 7.8 5.5 81.2
64 Venezuela 7.5 4.8 6.8 7 8 4 7.5 7 7.8 7.5 7.3 6 81.2
65 Lebanon 6.8 4.3 7.8 7 6.8 5.3 6.4 5 6.8 7.5 8.3 8.5 80.5
66 Zambia 9.2 5.2 5.2 6.7 7.3 7.6 7.5 7.8 5.8 6 5.2 6.1 79.6
67 Israel 7 8.5 9 3.5 7 3.8 7.3 7 7 4.8 7.5 7 79.4
68 Philippines 7 5.5 7.2 5.7 7.5 5.3 7.8 6 6.1 7 7.2 6.9 79.2
69 Peru 6.5 4.6 7 7.6 8 5.4 6.8 6.4 6.8 8 7.1 5 79.2
70 Vietnam 7 6.5 5.3 7 6.2 5.6 7 6.6 7 7.5 7 5.9 78.6
71 Tanzania 7 6.8 6 6 7 7 6.5 7.8 6 6 5.2 7 78.3
72 Algeria 6 6.6 7.1 5.6 7.4 3.5 7.5 7.6 7.5 6.8 6.4 5.8 77.8
73 Saudi Arabia 6 6.9 7.9 3.5 7 2 8.5 4.1 8.5 7.8 7.5 7.5 77.2
74 Jordan 6 6.8 6 5 7.6 6.5 6.8 5.8 6.1 6.8 6.6 7 77
75 Honduras 8.8 2.1 5.3 6 9 7.6 7.5 6.9 5.6 6 6.4 5.5 76.7
76 Morocco 6.5 8 6.9 6.2 7 6.5 8 5.7 6.6 5.6 5.5 4 76.5
77 El Salvador 8.5 6.1 6 7 7 5 7 7.4 6.7 6 3.9 5.5 76.1
78 Macedonia 5.7 5.1 7.1 7 7.5 6 7.2 5.6 5.3 6.1 6.2 6.3 75.1
79 Thailand 7.5 5.7 8.1 4.3 7.5 2 6.8 6 6.5 6.8 7.2 6.5 74.9
80 Mozambique 7 2 4.5 8.1 7.1 7 7.4 8 6.7 5.5 5.5 6 74.8
81 Mali 8.5 4.2 6 8 6.8 8.5 4.6 8.6 4.7 4.5 3.5 6.7 74.6
82 Turkey 7.2 6.1 7.3 5 8.6 4.1 6.1 5.7 5 6.4 6.9 6 74.4
83 Gambia, The 6 5 4 6 7 8.1 7.5 6.5 6.6 5.5 5.8 6 74
84 Gabon 6 5.4 3 6 7.9 5 7.9 7.5 6.2 5.5 7.5 5.7 73.6
85 Mexico 7.2 4.3 6.1 7 8.3 6.3 5.9 6 5.1 6 4.7 6.2 73.1
86 Ukraine 7 3.8 7.2 7.5 7 4.5 7 5.5 5.9 3 7.5 7 72.9
87 Paraguay 5 1.5 6.2 6 7.5 6.6 8 6.8 8 4.5 7.5 4.4 72
88 Kazakhstan 5 2.9 5.1 4 6.2 6.5 7.5 6.7 7 6.7 7.7 6.6 71.9
89 Armenia 6 7.1 5 7 6 5.1 7 6.5 6 4.5 5.8 5.5 71.5
90 Benin 6 5.1 4 6.9 7.3 6.5 6.5 7.8 4.8 5.5 3.8 6.7 70.9
91 Namibia 5.7 4.9 5.5 8 8 5.5 4.5 7.8 5.8 5.5 3.5 6 70.7
92 Cyprus 5 3.6 8.6 6 7.7 5 5.4 4.2 3.5 4 8.5 9 70.5
93 India 8.8 2.8 6.9 7.1 8.5 5 4.8 6.7 5.4 4.5 5.7 4.2 70.4
94 Albania 6 2.7 4.5 7 6 7 7 6.9 5.5 5.5 4.5 6 68.6
95 Libya 6 2.1 5.5 4 7.3 5.1 7.5 4.5 8.1 5.5 7.9 5 68.5
96 Botswana 9.3 6 3.5 6 6.9 5 5.5 6.8 4.9 4 3 6 66.9
97 Jamaica 6.5 2.5 4.5 6.7 6.5 5 7 6.5 5.6 6 3.9 6.1 66.8
98 Malaysia 6.5 4.1 5.5 3.5 6.6 4.3 5.9 5.8 6.5 6.2 5.5 5.7 66.1
99 Senegal 6.8 4.3 5.2 5 6.8 5.2 5.8 6.5 6 5.5 3.5 5.5 66.1
100 Tunisia 5.7 3.6 5 5 7.5 3.6 6.5 6 7.5 6 6 3 65.4
101 Brazil 6.5 3.6 5.7 5 8.5 2.7 5.5 6.7 5.3 5.7 3.2 4.7 63.1
102 Romania 6.5 3.9 5.4 5.5 6 5.9 6.2 5.3 4.8 3.5 4.1 5.5 62.6
103 Bulgaria 6 4.1 4 6 6.2 4.3 6.2 5.3 4.9 5.5 4.1 5.5 62.1
104 Croatia 5.7 6.6 6.5 5 5.7 5.8 4.2 4.1 4.6 4 3.9 5.8 61.9
105 Kuwait 5.7 4.5 4.5 4 6 2.8 6.8 3 6.5 5.5 7.5 4 60.8
106 Ghana 5.5 4.5 5 8 6.8 4 5.5 6.8 4.4 2 3.5 4.5 60.5
107 Panama 6.5 2.6 4.5 5 7.5 5.7 4.9 5.8 4.8 5.3 3 4 59.6
108 Mongolia 6 1 4.1 2 5.7 4.5 6.2 5.3 6.7 4.7 5 7.2 58.4
109 Latvia 5.7 5.9 4.5 5 7 5.5 4.8 4 3.7 2 4.1 4 56.2
110 South Africa 7.7 5.8 4.5 4 8 2.2 4.1 6 4 3.4 4 2 55.7
111 Estonia 5 5.1 4.5 4 5 3.5 5 4 3.7 2 5.9 3.3 51
112 Slovakia 4.5 1.8 4.4 5.5 6.5 4.5 3.8 4.3 4.6 2 4 4 49.9
113 Lithuania 5.7 3.5 3.5 5.5 6.1 4.5 4.1 4.1 3.7 2 3 4 49.7
114 Costa Rica 6 4.2 4 5 6.2 4.5 3.9 2.5 3.5 2 3.3 4.5 49.6
115 Poland 5 3.2 3.2 6.5 4.7 4.3 4.2 4.3 3.5 2 3 4 47.9
116 Hungary 3.7 3.6 3 5 6.4 4 3.8 4.2 4 2 3 4 46.7
117 Oman 2 1 3 1 2 3.5 6.3 3.5 6.5 5.5 7.5 2 43.8
118 Mauritius 3 1 3.5 2 6 3.1 5.1 4.5 4.7 4 3 2 41.9
119 Czech Republic 4 3.5 3.2 5 4 2.5 3.7 3.9 3 2 3.5 3.5 41.8
120 Uruguay 5 1 2 6 5 3.5 3 4 2.5 3 2.5 3.7 41.2
121 Greece 5 1.4 3.5 5.5 5 3.5 4 3 3 2 1.5 3.7 41.1
122 Argentina 3 1.4 4 4 5.2 4.2 3.5 4 3.7 2 2.8 3 40.8
123 South Korea (Republic of Korea) 4 4.2 3.5 5.5 2.5 1 3.9 1.5 2.8 1 3 7 39.9
124 Germany 4 5 4.9 3 6.2 3.2 2.3 1.8 2.9 2.5 1.8 2.1 39.7
125 Spain 3.2 1.8 5.8 1.5 5 3.3 1.5 1.5 2.9 3.2 5.7 2 37.4
126 Slovenia 4 1.5 3.5 3.5 5.5 3.2 3.2 3.5 3.7 3 1.2 1 36.8
127 Italy 3.5 2.8 3.5 3 4.5 4 3.2 1.5 1.8 2.5 2.8 2 35.1
128 USA 5 6 3 1 6 1.5 2.5 1 5 1 1.5 1 34.5
129 France 4 3.8 6 2 5 3 1.5 1 3.2 1 1.8 2 34.3
130 UK 3.5 3.9 5 2 5 1 2.5 1.8 2 2.5 3 2 34.2
131 Portugal 5 1 2.5 2 4 3.7 1.5 3.8 3.3 1 1.4 3.5 32.7
132 Chile 3 1 3.5 2 4 3.4 1.5 3.5 3.6 2 1.5 3 32
133 Singapore 2 1 3 3 2.5 3.3 3.5 1 3.5 1 4 3 30.8
134 Netherlands 3 4.1 4.8 2.5 4 2 1.2 1 1.5 1 1 2 28.1
135 Japan 4 1 3.8 2 2.5 2.6 1.8 1 3 1 1.3 4 28
136 Austria 2.5 2.1 3.5 1 5 1.9 1.3 1 1.5 1 2 3.3 26.1
137 Denmark 3 2.5 4.5 2 2 2 1 1 1.5 1 1 3.3 24.8
138 Belgium 3 1.5 3.5 1 4 2 1.5 1 1.5 1 1.5 2.5 24
139 Canada 3 2.3 2 2 5 1.2 1.5 1 1.5 1 1.6 1 23.1
140 Australia 2.5 1.5 3 1 4.5 1.5 1 1 2.5 1 1.5 1 22
141 New Zealand 1 1 2 2 4 2.9 1 1 1.5 1 1 1 19.4
142 Switzerland 3 1.5 2 2 2.5 1.2 1 1 1.5 1 1 1 18.7
143 Ireland 2 1.4 1 2 3 1.9 1.5 1.3 1.5 1 1 1 18.6
144 Finland 3 1.5 1 2 2 2.2 1 1 1.5 1 1 1 18.2
145 Sweden 3 2.5 1 2 2 1.2 1 1 1.5 1 1 1 18.2
146 Norway 3 1.5 1 1 2 1.8 1 1 1.5 1 1 1 16.8

Boris89, thanks for putting the ranking here, although I am not to fond of rankings, nevertheless I made an effort to outline Africa´s best and Africa´s worst so-called "failed states"!

Africa´s Ten Worst Performers


1 Sudan 9.6 9.7 9.7 9.1 9.2 7.5 9.5 9.5 9.8 9.8 9.1 9.8 112.3
2 DRC 9.5 9.5 9.1 8 9 8.1 9 9 9.5 9.8 9.6 10 110.1
3 Côte d'Ivoire 8.8 7.6 9.8 8.5 8 9 10 8.5 9.4 9.8 9.8 10 109.2
5 Zimbabwe 9.7 8.9 8.5 9 9.2 9.8 8.9 9.5 9.5 9.4 8.5 8 108.9
6 Chad 9 9 8.5 8 9 7.9 9.5 9 9.1 9.4 9.5 8 105.9
7 Somalia 9 8.1 8 7 7.5 8.5 10 10 9.5 10 9.8 8.5 105.9
11 Guinea 7.5 7.2 8.1 8.4 8 8 9.1 9 8.1 8.1 9 8.5 99
12 Liberia 8 9.3 7 7.1 8.6 8.9 7.8 9 7.2 7.3 8.8 10 99
13 Central African Republic 9 7.7 8.8 5.5 8.5 8.1 9 8 7.5 8.9 8 8.5 97.5
15 Burundi 9 9.1 7 6.7 8.8 7.8 7.2 8.5 7.5 7.3 7.8 10 96.7


Africa´s Ten Best Performers

84 Gabon 6 5.4 3 6 7.9 5 7.9 7.5 6.2 5.5 7.5 5.7 73.6
90 Benin 6 5.1 4 6.9 7.3 6.5 6.5 7.8 4.8 5.5 3.8 6.7 70.9
91 Namibia 5.7 4.9 5.5 8 8 5.5 4.5 7.8 5.8 5.5 3.5 6 70.7
95 Libya 6 2.1 5.5 4 7.3 5.1 7.5 4.5 8.1 5.5 7.9 5 68.5
96 Botswana 9.3 6 3.5 6 6.9 5 5.5 6.8 4.9 4 3 6 66.9
99 Senegal 6.8 4.3 5.2 5 6.8 5.2 5.8 6.5 6 5.5 3.5 5.5 66.1
100 Tunisia 5.7 3.6 5 5 7.5 3.6 6.5 6 7.5 6 6 3 65.4
106 Ghana 5.5 4.5 5 8 6.8 4 5.5 6.8 4.4 2 3.5 4.5 60.5
110 South Africa 7.7 5.8 4.5 4 8 2.2 4.1 6 4 3.4 4 2 55.7
118 Mauritius 3 1 3.5 2 6 3.1 5.1 4.5 4.7 4 3 2 41.9


Best perfomer Norway is 148

Other big African states and their position.

Nigeria is 22
Egypt is 31
Angola is 37
Kenya is 34
Marocco 76

Nakumatt among top 30 retailers

Nakumatt among top 30 retailers

By James Ratemo

Supermarket chain, Nakumatt Holdings, has been ranked 25th in the annual Planet Retail listing of top 30 global retailers.

The chain becomes the only African retailer out of South Africa that made it to the 2006 rankings with South Africa taking the first six positions.

Planet Retail is a leading provider of information on global retail and food service industries, monitoring more than 5,000 outlets as well as market developments in 211 countries.

With over 15 years of industry insight, it has offices in London, Frankfurt and Tokyo.

The annual report is compiled from information based on sales performance, corporate strategy and growth plans.

To make it to the list, Nakumatt managed to beat, Germany’s Metro Group, UAE’s Abu Dhabi Co-op, Petronas of Malaysia, Saudi Arabia’s Farm and Le Charcutier Aoun of Lebanon.

A retail analyst at Planet Retail, Mr Oliver Heins, said "other than the principal South African players and Nakumatt, there is little to report on movements by other chains across sub-saharan Africa."

Speaking in Nairobi moments after receiving the news, Nakumatt Holdings Managing Director, Mr Atul Shah expressed his pride for the ranking, which he attributed to support by firm’s stakeholders.

"As a truly Kenyan Company, I am proud that global research organisations have recognised Nakumatt’s standards which are at par with the world’s best," he said.

Highlights of a report compiled by Heins and released over the weekend shows that South African retailers continue to dominate the ranking with regional power houses beginning to form in the Gulf States and French retailer Carrefour forecasted to become the third largest retailer by 2012.

Last year, South Africa retailers accounted for 60 per cent of the region’s sales and also scooped the top five positions.

The report further notes that in Sub-Saharan Africa, the informal sector is fast growing with the rise of modern retailers in the region’s lucrative markets.

KCB now Africa's best performing firm

The Africa Index looks into companies' overall perfomance on the stock market over a whole year. PHILIP NGUJIRI reports

Kenyan companies featured prominently in the inaugural 2007 winners of the Africa Investor Index Awards ceremony at the London Stock Exchange last week.

The Kenya Commercial Bank (KCB) was declared the Best Performing Ai40 Company — that is, the best of the companies listed on Africa Investor’s Ai40 Index. This followed a year of good performance on the Nairobi Stock Exchange (NSE) during which the KCB stock gained 97 per cent compared with the roughly 22 per cent gains recorded by the entire Kenyan market.

KCB beat Anglo-American, MTN Group, Orascom Construction, West African Portland Cement and United Bank of Africa to first place.

Kengen and Stanbic Bank Uganda were nominated for the Best African IPO (initial public offer) award, which was won by Dangote Sugar Refinery of Nigeria, while the Nairobi Stock Exchange was among five bourses that lost to the Johannesburg Stock Exchange in the category of the Best African Stock Exchange.

Citigroup was voted the best African Investment Bank while Innscor won in the Best Performing Ai100 Company category. Africa Emerging Markets Fund was the winner in the category of the Best Africa Fund Manager.

According to KCB chief executive Martin Oduor-Otieno, the awards took into account the stock’s performance during the one-year period to March 2007 as well as price movement, the turnaround of KCB and its 2007 first quarter results, not to speak of the bank’s corporate governance performance.

It also considered the improving debt portfolio, large branch network, wide range of products and services and the liquidity of the shares on the Nairobi Stock Exchange

“The Ai40 Awards panel observed that the KCB stock performed consistently over the year, as other top stocks, especially from Kenya, dropped,” said Mr Oduor-Otieno. “To be the best performing company in Africa among a strong list of the continent’s top businesses is phenomenal and a great tribute to all our stakeholders for their contribution.”

Other Kenyan companies on the Ai40 Index that did not make it to the shortlist are Kenya Airways, Mumias Sugar, Kenya Power and Lighting Company and East African Breweries.

Africa Investor is a specialist research and investment communications firm that supplies investors and policy makers with information on Africa’s investment environment and sheds light on issues that inform investment decisions.

Ai’s research agenda is guided by events shaping business confidence in Africa. Political leaders, chief executive officers and multilateral agency executives consult Africa Investor for its analytical reporting on the events and issues shaping Africa’s investment environment.

Produced by Africa Investor, the Ai40 Investor’s Index captures the 40 largest and most liquid publicly traded stocks across Africa by ranking them by market capitalisation and by liquidity as measured by the average daily value traded in US dollars.

To ensure regional diversification, Africa Investor sets a country cap on the bigger markets such as South Africa and Egypt in order to capture companies in smaller markets with a market cap in excess of $150 million. The index was launched on December 30, 2005 at a base value of 100.

“I believe that we are now seeing the emergence of truly competitive African capital market investment opportunities G8 investors can assess and pursue with confidence,” said Hubert Danso, vice chairman, Africa Investor group. “These awards have shone light on Africa’s super performers and signalled that African blue chips without doubt should represent an integral part of any serious emerging market investors portfolio.”

According to Japheth Munywoki, research analyst at Africa Investor, there is no question that across Africa’s 18 stock exchanges — with over 2,000 listed companies — there are a considerable number of undervalued companies, many yielding 15 per cent-plus.

Africa Investor Index constituents displayed increases in profits of 39 per cent in the first quarter of 2007 and their stocks post 97 per cent gains over March 2006 to March 2007.

General Electric moves Africa’s hub to Nairobi

Written by Jim Onyango

Young & Rubicam (Y&R) also make Nairobi their African headquarters

General Electric Company, the world’s leading producer of large and small jet engines for commercial and military aircraft, will move it’s Africa corporate headquarters from South Africa to Nairobi, company officials have said, continuing the growth of the capital as a hub for multinational business for sub-Saharan Africa.
The GE office in the capital will now be responsible for corporate-level decisions for the company’s African business, it will also spearhead the company’s hunt for new businesses on the continent, the firm’s president for Africa, Yibrah Tesfasghi, told Business Daily.

US-based GE, which also makes and supplies locomotives to Kenya, formerly ran two corporate offices in Africa, with one in Cairo, Egypt in addition to the Johannesburg office. Both the Egypt and South Africa offices will be downgraded to operational hubs.

Mr Tesfasghi said in an interview that the move is calculated at bringing the company closer to its customers and that the Nairobi office would be instrumental in the firm’s intended building of production factories in the continent.

“GE sees Kenya as a key emerging market driver of the future African economy” said Mr Tesfasghi. “We want to position this company in the heart of Africa so as to build relations with African businesses as we are planning a long stay in the continent.”

Earlier this year, global advertising firm Young & Rubicam (Y&R) made a similar move, in transferring their sub-Saharan African offices from Johannesburg to Nairobi.
At the time, the chief executive of the pan-African operation, Chris Harrison said Kenya “has the skills and talent needed to build successful service industries.” Mr Tesfasghi said Nairobi is increasingly becoming a business hub due to its developed telecommunications infrastructure and airport services.

“It’s become easier to access Europe and other parts of the world from Nairobi due to the increased flights from this area,” he said. Links between GE and Kenya Airways may have also played a role in the choice of Nairobi, as the firm manufactures and supplies some of the engines used by KQ aircraft. The national carrier leases several of its jets from General Electric Commerical Aviation Services, an airline fleet services branch, such as the Embraer 170 jets, for which GE also makes the engines.
General Electric’s African operations started in 1988 when it established its Johannesburg office, and today the company is active in more than 35 countries on the continent, employing over 600 people.

The company which also has an petroleum business arm, operates an energy service centre in Nigeria and an oil and gas business in Angola. GE’s move to strengthen its operations in Kenya comes as international oil companies and exploration finance firms, have shown increased interest in East Africa in the quest for unseen oil and gas reserves.

In addition to producing turbo machinery used in oil drilling, GE’s industrial arm deals with the manufacture of power control and security equipment. Elsewhere, the diversified firm has a healthcare division producing scanning equipment for hospitals and a media division that runs US TV networks including NBC and CNBC. GE has engineers based at Rift Valley Railways’ Mombasa facility to service locomotives.

It will now add jet engine technicians to service GE engines on local aircraft, said Mr Tesfasghi.

He said added that the company was hoping to strengthen its relations with KQ.

GE’s revenue rose to $163.4 billion in 2006 with its income capping the $ 20.7 billion mark.

Matthias Offodile;13801087]Boris89, thanks for putting the ranking here, although I am not to fond of rankings, nevertheless I made an effort to outline Africa´s best and Africa´s worst so-called "failed states"!

I hear you....I am not fond of them either......I wonder if our Leaders read theses thing......If I were sitting in the ministry of "watever" in one of the high ranked african contries up there I would be so ashamed and do my best to go down the list the year after.......

Well with the peace process on its way lets c how the Cote D'ivoire can do

I hear you....I am not fond of them either......I wonder if our Leaders read theses thing......If I were sitting in the ministry of "watever" in one of the high ranked african contries up there I would be so ashamed and do my best to go down the list the year after.......

Well with the peace process on its way lets c how the Cote D'ivoire can do

I can fully subscribe to all what you said! It is really so true!

I can fully subscribe to all what you said! It is really so true!
it's true!Information ministry officials should be able to surf the net like us and monitor what's it about their countries.Continent like ours should better do to alleviate the bad rankings.

Barwa Real Estate ‘mulls’ investing $500mn in Sudan Published: Monday, 18 June, 2007, 02:45 AM Doha Time

DOHA: Qatar’s Barwa Real Estate Co said it was considering investing in Sudan as part of a strategy to expand outside its home country.
Talks in Sudan with unidentified people were “constructive and informative”, Barwa said in a statement on the Qatari bourse website yesterday.
Local Arabic media had reported on Saturday that the company was planning to invest $500mn in the African state.
“The visit to Sudan was part of a new investment exploration of opportunities outside the state of Qatar, and the visit is just a new investment discovery which requires additional study and research,” the company said. It did not give details.
Shares of Barwa closed 1.73% down yesterday. They are up 57.39% this year to Thursday’s close. – Reuters

Failed States Index 2006

LOTS OF AFRICAN STATES ON THIS LIST TOP THIS LIST

The Twelve Indicators:
I 1 - Mounting Demographic Pressures
I 2 - Massive Movement of Refugees and IDPs
I 3 - Legacy of Vengeance - Seeking Group Grievance
I 4 - Chronic and Sustained Human Flight
I 5 - Uneven Economic Development along Group Lines
I 6 - Sharp and/or Severe Economic Decline
I 7 - Criminalization or Delegitimization of the State
I 8 - Progressive Deterioration of Public Services
I 9 - Widespread Violation of Human Rights
I 10 - Security Apparatus as "State within a State"
I 11 - Rise of Factionalized Elites
I 12 - Intervention of Other States or External Actors

Click on a column header to sort by that column
Rank Country I 1 I 2 I 3 I 4 I 5 I 6 I 7 I 8 I 9 I 10 I 11 I 12 Total
1 Sudan 9.6 9.7 9.7 9.1 9.2 7.5 9.5 9.5 9.8 9.8 9.1 9.8 112.3
2 DRC 9.5 9.5 9.1 8 9 8.1 9 9 9.5 9.8 9.6 10 110.1
3 Cote d'Ivoire 8.8 7.6 9.8 8.5 8 9 10 8.5 9.4 9.8 9.8 10 109.2
4 Iraq 8.9 8.3 9.8 9.1 8.7 8.2 8.5 8.3 9.7 9.8 9.7 10 109
5 Zimbabwe 9.7 8.9 8.5 9 9.2 9.8 8.9 9.5 9.5 9.4 8.5 8 108.9
6 Chad 9 9 8.5 8 9 7.9 9.5 9 9.1 9.4 9.5 8 105.9
7 Somalia 9 8.1 8 7 7.5 8.5 10 10 9.5 10 9.8 8.5 105.9
8 Haiti 8.8 5 8.8 8 8.3 8.4 9.4 9.3 9.6 9.4 9.6 10 104.6
9 Pakistan 9.3 9.3 8.6 8.1 8.9 7 8.5 7.5 8.5 9.1 9.1 9.2 103.1
10 Afghanistan 7.9 9.6 9.1 7 8 7.5 8.3 8 8.2 8.2 8 10 99.8
11 Guinea 7.5 7.2 8.1 8.4 8 8 9.1 9 8.1 8.1 9 8.5 99
12 Liberia 8 9.3 7 7.1 8.6 8.9 7.8 9 7.2 7.3 8.8 10 99
13 Central African Republic 9 7.7 8.8 5.5 8.5 8.1 9 8 7.5 8.9 8 8.5 97.5
14 North Korea 8 6 7.2 5 9 9.5 9.8 9.5 9.5 8.3 8 7.5 97.3
15 Burundi 9 9.1 7 6.7 8.8 7.8 7.2 8.5 7.5 7.3 7.8 10 96.7
16 Yemen 7.8 6.7 7 8.2 9 7.8 8.8 8.2 7.2 9 9.4 7.5 96.6
17 Sierra Leone 8.5 7.9 7.1 8.9 8.7 9 8 8 7 7 7.7 8.8 96.6
18 Burma/Myanmar 8.9 8.8 9 6 9 7.1 9.2 8.2 9.8 9 8 3.5 96.5
19 Bangladesh 9 5.8 9.5 8.5 9 7 9 7.5 7.8 8.3 8.9 6 96.3
20 Nepal 8.5 4.8 9.2 6 9.2 8.5 9.2 6.2 9.1 9 9 6.7 95.4
21 Uganda 8 9.2 7.8 5.7 8.4 7.5 8 8 8 8.5 7.9 7.5 94.5
22 Nigeria 8 5.9 9.1 8.5 9 5.4 9 8.3 7.1 9.2 9 5.9 94.4
23 Uzbekistan 7.7 5.8 7.5 7.5 8.1 7 9.3 7 9.3 9.1 9.1 7 94.4
24 Rwanda 9.5 7 9 8.2 7.2 8 8.7 6.9 7.7 5 8.9 6.8 92.9
25 Sri Lanka 8 8.2 9.1 6.7 8 5.7 8.6 7 7.2 8.5 8.9 6.5 92.4
26 Ethiopia 9 7.6 7 7.5 8.5 8 7.6 6.2 8 7.5 8.7 6.3 91.9
27 Colombia 7 9.1 7.4 8.5 8.5 3.2 8.7 6.5 7.6 9 9.2 7.1 91.8
28 Kyrgyzstan 8 6.6 7 7.5 8 7.5 8.3 7.3 7.9 8.3 7.9 6 90.3
29 Malawi 9 6 6 7 8.8 8.8 8 9 8 5.5 6.7 7 89.8
30 Burkina Faso 9 5.9 6.5 6.6 8.8 8.2 7.8 8.4 6.5 7.6 7.7 6.7 89.7
31 Egypt 8 6 8.5 6 8 7 9 7.3 8 6.5 7.7 7.5 89.5
32 Indonesia 7.5 8.2 6.3 8.3 8 6.8 6.7 7.2 7.5 7.5 7.9 7.3 89.2
33 Syria 7 7.1 8 6.8 8.9 6.5 9 5.5 9 7.5 7.1 6.2 88.6
34 Kenya 9 7.1 6.7 8 8 6.8 7.3 7.2 6.9 7 7.6 7 88.6
35 Bosnia and Herzegovina 6.5 8.5 8.6 6 7.3 6.2 8.1 5.8 5.3 7.5 8.7 10 88.5
36 Cameroon 6.5 6.8 6.5 8 8.7 6 8.5 8 7.2 7.6 7.9 6.7 88.4
37 Angola 8 8.5 6.3 5 9 4.9 8.8 7.6 7.8 6.8 8 7.6 88.3
38 Togo 7 5.8 6 6.5 7.5 8 8.7 8.1 8.1 8.1 7.8 6.7 88.3
39 Bhutan 6 8.1 7 6.7 9 8 8.4 6 8.6 5 8.4 6.7 87.9
40 Laos 8 5.9 6.3 6.6 5.9 6.5 7.9 8 8.2 9 8.9 6.7 87.9
41 Mauritania 9 5.9 8.5 5 7 7.8 7.1 8.2 7.1 7.6 7.9 6.7 87.8
42 Tajikistan 7 6.6 6.2 6.5 7.4 6.8 8.9 7.5 8.6 7.5 8.7 6 87.7
43 Russia 8 7.2 8 7 8 3.7 8.2 6.9 9.1 7.5 9 4.5 87.1
44 Niger 9.4 4.3 8.5 6 7.2 9 7.9 8.5 6.5 6.7 6 7 87
45 Turkmenistan 7 4.2 5.2 6 7.2 8 9.1 7.2 9.7 8.5 8 6 86.1
46 Guinea-Bissau 7 4.9 5.5 7 9.3 7.4 7.8 8 7.9 7.5 6.5 6.6 85.4
47 Cambodia 7.5 6.5 7 8 7.2 6 7.8 7.5 6.9 6.7 7.5 6.4 85
48 Dominican Republic 7.8 7 6.5 8.5 8 6 6.2 8 7.1 7 7.4 5.5 85
49 Papua New Guinea 8 2.5 8 8 9 7 7.8 8 6.1 7 6.7 6.5 84.6
50 Belarus 9 5.1 5.5 3.5 8.5 6.3 9 7.5 7.3 6.8 8 8 84.5
51 Guatemala 8.7 6 7.1 6.7 8 7.1 7.5 7.1 7.1 7.5 6 5.5 84.3
52 Equatorial Guinea 7 2 6.7 7.5 9 4 9 8 8.5 8.3 8 6 84
53 Iran 6.5 8.7 6.9 5 7.5 3 8.1 6.1 9.1 8 8.8 6.3 84
54 Eritrea 8 7.2 5.4 6 6 8 8 7.3 6.8 7.2 7.5 6.5 83.9
55 Serbia and Montenegro 5.7 8.5 8.6 5.5 8 6.5 7.8 5 5.6 6.5 8.6 7.5 83.8
56 Bolivia 7.5 4 7 7 8.8 6.2 7 7.8 6.7 6.5 8.4 6 82.9
57 China 8.5 5.1 8 6.6 9.2 4.5 8.5 7.3 9 5.5 8 2.3 82.5
58 Moldova 7 4.7 7.3 8 7.5 7.5 7.4 7 6.8 5.5 6.8 7 82.5
59 Nicaragua 6.5 5.5 6.4 7.1 9 8.5 7.3 7.2 5.7 6.5 7 5.7 82.4
60 Georgia 6 6.8 7.4 6.1 7 5.5 7.7 6.3 5.6 8.1 7.1 8.6 82.2
61 Azerbaijan 6 8.1 7.3 5 7.5 5.9 8.1 6.5 6 7 7.5 7 81.9
62 Cuba 7.5 4.7 5.5 6 7.9 6.5 7.8 4 8.3 8 8 7.7 81.9
63 Ecuador 6 5.6 6.8 7.1 8 5.2 8.3 7.4 6.7 6.8 7.8 5.5 81.2
64 Venezuela 7.5 4.8 6.8 7 8 4 7.5 7 7.8 7.5 7.3 6 81.2
65 Lebanon 6.8 4.3 7.8 7 6.8 5.3 6.4 5 6.8 7.5 8.3 8.5 80.5
66 Zambia 9.2 5.2 5.2 6.7 7.3 7.6 7.5 7.8 5.8 6 5.2 6.1 79.6
67 Israel 7 8.5 9 3.5 7 3.8 7.3 7 7 4.8 7.5 7 79.4
68 Philippines 7 5.5 7.2 5.7 7.5 5.3 7.8 6 6.1 7 7.2 6.9 79.2
69 Peru 6.5 4.6 7 7.6 8 5.4 6.8 6.4 6.8 8 7.1 5 79.2
70 Vietnam 7 6.5 5.3 7 6.2 5.6 7 6.6 7 7.5 7 5.9 78.6
71 Tanzania 7 6.8 6 6 7 7 6.5 7.8 6 6 5.2 7 78.3
72 Algeria 6 6.6 7.1 5.6 7.4 3.5 7.5 7.6 7.5 6.8 6.4 5.8 77.8
73 Saudi Arabia 6 6.9 7.9 3.5 7 2 8.5 4.1 8.5 7.8 7.5 7.5 77.2
74 Jordan 6 6.8 6 5 7.6 6.5 6.8 5.8 6.1 6.8 6.6 7 77
75 Honduras 8.8 2.1 5.3 6 9 7.6 7.5 6.9 5.6 6 6.4 5.5 76.7
76 Morocco 6.5 8 6.9 6.2 7 6.5 8 5.7 6.6 5.6 5.5 4 76.5
77 El Salvador 8.5 6.1 6 7 7 5 7 7.4 6.7 6 3.9 5.5 76.1
78 Macedonia 5.7 5.1 7.1 7 7.5 6 7.2 5.6 5.3 6.1 6.2 6.3 75.1
79 Thailand 7.5 5.7 8.1 4.3 7.5 2 6.8 6 6.5 6.8 7.2 6.5 74.9
80 Mozambique 7 2 4.5 8.1 7.1 7 7.4 8 6.7 5.5 5.5 6 74.8
81 Mali 8.5 4.2 6 8 6.8 8.5 4.6 8.6 4.7 4.5 3.5 6.7 74.6
82 Turkey 7.2 6.1 7.3 5 8.6 4.1 6.1 5.7 5 6.4 6.9 6 74.4
83 Gambia, The 6 5 4 6 7 8.1 7.5 6.5 6.6 5.5 5.8 6 74
84 Gabon 6 5.4 3 6 7.9 5 7.9 7.5 6.2 5.5 7.5 5.7 73.6
85 Mexico 7.2 4.3 6.1 7 8.3 6.3 5.9 6 5.1 6 4.7 6.2 73.1
86 Ukraine 7 3.8 7.2 7.5 7 4.5 7 5.5 5.9 3 7.5 7 72.9
87 Paraguay 5 1.5 6.2 6 7.5 6.6 8 6.8 8 4.5 7.5 4.4 72
88 Kazakhstan 5 2.9 5.1 4 6.2 6.5 7.5 6.7 7 6.7 7.7 6.6 71.9
89 Armenia 6 7.1 5 7 6 5.1 7 6.5 6 4.5 5.8 5.5 71.5
90 Benin 6 5.1 4 6.9 7.3 6.5 6.5 7.8 4.8 5.5 3.8 6.7 70.9
91 Namibia 5.7 4.9 5.5 8 8 5.5 4.5 7.8 5.8 5.5 3.5 6 70.7
92 Cyprus 5 3.6 8.6 6 7.7 5 5.4 4.2 3.5 4 8.5 9 70.5
93 India 8.8 2.8 6.9 7.1 8.5 5 4.8 6.7 5.4 4.5 5.7 4.2 70.4
94 Albania 6 2.7 4.5 7 6 7 7 6.9 5.5 5.5 4.5 6 68.6
95 Libya 6 2.1 5.5 4 7.3 5.1 7.5 4.5 8.1 5.5 7.9 5 68.5
96 Botswana 9.3 6 3.5 6 6.9 5 5.5 6.8 4.9 4 3 6 66.9
97 Jamaica 6.5 2.5 4.5 6.7 6.5 5 7 6.5 5.6 6 3.9 6.1 66.8
98 Malaysia 6.5 4.1 5.5 3.5 6.6 4.3 5.9 5.8 6.5 6.2 5.5 5.7 66.1
99 Senegal 6.8 4.3 5.2 5 6.8 5.2 5.8 6.5 6 5.5 3.5 5.5 66.1
100 Tunisia 5.7 3.6 5 5 7.5 3.6 6.5 6 7.5 6 6 3 65.4
101 Brazil 6.5 3.6 5.7 5 8.5 2.7 5.5 6.7 5.3 5.7 3.2 4.7 63.1
102 Romania 6.5 3.9 5.4 5.5 6 5.9 6.2 5.3 4.8 3.5 4.1 5.5 62.6
103 Bulgaria 6 4.1 4 6 6.2 4.3 6.2 5.3 4.9 5.5 4.1 5.5 62.1
104 Croatia 5.7 6.6 6.5 5 5.7 5.8 4.2 4.1 4.6 4 3.9 5.8 61.9
105 Kuwait 5.7 4.5 4.5 4 6 2.8 6.8 3 6.5 5.5 7.5 4 60.8
106 Ghana 5.5 4.5 5 8 6.8 4 5.5 6.8 4.4 2 3.5 4.5 60.5
107 Panama 6.5 2.6 4.5 5 7.5 5.7 4.9 5.8 4.8 5.3 3 4 59.6
108 Mongolia 6 1 4.1 2 5.7 4.5 6.2 5.3 6.7 4.7 5 7.2 58.4
109 Latvia 5.7 5.9 4.5 5 7 5.5 4.8 4 3.7 2 4.1 4 56.2
110 South Africa 7.7 5.8 4.5 4 8 2.2 4.1 6 4 3.4 4 2 55.7
111 Estonia 5 5.1 4.5 4 5 3.5 5 4 3.7 2 5.9 3.3 51
112 Slovakia 4.5 1.8 4.4 5.5 6.5 4.5 3.8 4.3 4.6 2 4 4 49.9
113 Lithuania 5.7 3.5 3.5 5.5 6.1 4.5 4.1 4.1 3.7 2 3 4 49.7
114 Costa Rica 6 4.2 4 5 6.2 4.5 3.9 2.5 3.5 2 3.3 4.5 49.6
115 Poland 5 3.2 3.2 6.5 4.7 4.3 4.2 4.3 3.5 2 3 4 47.9
116 Hungary 3.7 3.6 3 5 6.4 4 3.8 4.2 4 2 3 4 46.7
117 Oman 2 1 3 1 2 3.5 6.3 3.5 6.5 5.5 7.5 2 43.8
118 Mauritius 3 1 3.5 2 6 3.1 5.1 4.5 4.7 4 3 2 41.9
119 Czech Republic 4 3.5 3.2 5 4 2.5 3.7 3.9 3 2 3.5 3.5 41.8
120 Uruguay 5 1 2 6 5 3.5 3 4 2.5 3 2.5 3.7 41.2
121 Greece 5 1.4 3.5 5.5 5 3.5 4 3 3 2 1.5 3.7 41.1
122 Argentina 3 1.4 4 4 5.2 4.2 3.5 4 3.7 2 2.8 3 40.8
123 South Korea (Republic of Korea) 4 4.2 3.5 5.5 2.5 1 3.9 1.5 2.8 1 3 7 39.9
124 Germany 4 5 4.9 3 6.2 3.2 2.3 1.8 2.9 2.5 1.8 2.1 39.7
125 Spain 3.2 1.8 5.8 1.5 5 3.3 1.5 1.5 2.9 3.2 5.7 2 37.4
126 Slovenia 4 1.5 3.5 3.5 5.5 3.2 3.2 3.5 3.7 3 1.2 1 36.8
127 Italy 3.5 2.8 3.5 3 4.5 4 3.2 1.5 1.8 2.5 2.8 2 35.1
128 USA 5 6 3 1 6 1.5 2.5 1 5 1 1.5 1 34.5
129 France 4 3.8 6 2 5 3 1.5 1 3.2 1 1.8 2 34.3
130 UK 3.5 3.9 5 2 5 1 2.5 1.8 2 2.5 3 2 34.2
131 Portugal 5 1 2.5 2 4 3.7 1.5 3.8 3.3 1 1.4 3.5 32.7
132 Chile 3 1 3.5 2 4 3.4 1.5 3.5 3.6 2 1.5 3 32
133 Singapore 2 1 3 3 2.5 3.3 3.5 1 3.5 1 4 3 30.8
134 Netherlands 3 4.1 4.8 2.5 4 2 1.2 1 1.5 1 1 2 28.1
135 Japan 4 1 3.8 2 2.5 2.6 1.8 1 3 1 1.3 4 28
136 Austria 2.5 2.1 3.5 1 5 1.9 1.3 1 1.5 1 2 3.3 26.1
137 Denmark 3 2.5 4.5 2 2 2 1 1 1.5 1 1 3.3 24.8
138 Belgium 3 1.5 3.5 1 4 2 1.5 1 1.5 1 1.5 2.5 24
139 Canada 3 2.3 2 2 5 1.2 1.5 1 1.5 1 1.6 1 23.1
140 Australia 2.5 1.5 3 1 4.5 1.5 1 1 2.5 1 1.5 1 22
141 New Zealand 1 1 2 2 4 2.9 1 1 1.5 1 1 1 19.4
142 Switzerland 3 1.5 2 2 2.5 1.2 1 1 1.5 1 1 1 18.7
143 Ireland 2 1.4 1 2 3 1.9 1.5 1.3 1.5 1 1 1 18.6
144 Finland 3 1.5 1 2 2 2.2 1 1 1.5 1 1 1 18.2
145 Sweden 3 2.5 1 2 2 1.2 1 1 1.5 1 1 1 18.2
146 Norway 3 1.5 1 1 2 1.8 1 1 1.5 1 1 1 16.8

LOL this list bullshit! Benin and Mali ahead the likes of Saudi Arabia and Israel?? LMAO!!

The Twelve Indicators:
I 1 - Mounting Demographic Pressures
I 2 - Massive Movement of Refugees and IDPs
I 3 - Legacy of Vengeance - Seeking Group Grievance
I 4 - Chronic and Sustained Human Flight
I 5 - Uneven Economic Development along Group Lines
I 6 - Sharp and/or Severe Economic Decline
I 7 - Criminalization or Delegitimization of the State
I 8 - Progressive Deterioration of Public Services
I 9 - Widespread Violation of Human Rights
I 10 - Security Apparatus as "State within a State"
I 11 - Rise of Factionalized Elites
I 12 - Intervention of Other States or External Actors



Khalifani, Just Have a look at the criteria which explain soemthing!:)

Although Mali is a poor state some of those criteria can´t be applied to Mali.

New oil discovery worth sh15,000b

OIL reserves from the Kingfisher well discovery could be ten times greater than previously believed.

The Post, an Irish newspaper, quoting a presentation by Heritage Oil Corporation to its partners on Monday, said the find pointed to a multibillion-barrel oil potential, estimated at $7b (over sh15,000b).

This is three times Uganda’s budget for the next financial year. The total resource envelope, including donor support, for 2007/2008 amounts to sh5,000b.

Heritage Oil and Tullow Oil jointly own the Kingfisher well on block 3A in Bunyoro, Hoima district, on a 50/50 basis.

Heritage is a Canadian-based international oil company while Tullow is Irish.

The Heritage presentation, published on the same day Tullow announced a major oil discovery in Ghana, refers to an estimated 2.4b barrels of “unrisked resources”.

Heritage said the find was the “most exciting new play in sub-Saharan Africa in the past decade”.

The Kingfisher discovery, with a flow rate of about 14,000 barrels of oil per day, is so far the largest find in Uganda.

According to The Post, the initial indications were that Tullow’s share of possible reserves could be between 100 million and 250 million barrels of oil.

A highly placed source in the Ugandan energy ministry yesterday said it was possible that the area held oil reserves to that magnitude.

“What is being done now is a three-dimensional study which gives the real size of the find. If more oil is found on the bottom of the well where the companies didn’t reach initially, the reserves could even be higher,” the source said.

The Post reported that details of the Heritage presentation helped to lift Tullow’s share price on Thursday, putting the value of the company at $5.3b.

“The Ghana oil discovery, combined with news on Uganda, drove up Tullow shares last week, adding $1.2b to the value of the company,” the report noted.

Tullow Oil last year bought out Hardman Resources, making it 100% owner and operator of Block 2, another block in Hoima where four wells have been drilled, with a combined flow rate that could exceed 14,000 barrels of oil per day once testing of the Nzizi 2 well is done.

http://www.newvision.co.ug/D/8/12/572305

Uganda’s poverty levels dropping - Ubos study

YASIIN MUGERWA
PARLIAMENT
THE number of Ugandans living in extreme poverty this year is slightly down compared to last year, a countywide study conducted over the last four years suggests.

Statistics in the June 2007 report by the Finance Ministry entitled, Re-orienting Government Expenditure towards Prosperity for All show that the proportion of Uganda’s poor has declined from 38.4 per cent in 2002/03 to 31.3 per cent in 2005/06.

Quoting the latest data from Uganda Bureau of Statistics (Ubos), the report says the average household monthly expenditure for Ugandans increased from Shs136,468 to Shs152,068 over the period under review.

“Poverty reduced both in rural and urban areas and all regions of the country. The greatest improvement was in rural areas (8.5%) compared to urban areas (0.7%),” the report reads in part.

However, the report warns that northern Uganda, where conflict has prevailed for over 20 years, witnessed the smallest gains with poverty levels at only 6 per cent, about twice the national average.

“If the peace process is successful in the north, regional production should recover. This should increase growth and reduce poverty levels. If poverty in the north fell to the current national figure [31.3 per cent] poverty would fall to 6 per cent.”
But despite the downward trend, critics say the dropping poverty rate has failed to tell the whole story, as many Ugandans are still chained in the rags of poverty.

Criticism
Shadow Finance Minister Nandala Mafabi (Budadiri West) told Daily Monitor over the weekend that with unemployment at its highest in 21 years, consumer spending is low yet rural and urban poverty is continuing to bite many Ugandans.

“I cannot subscribe to the poverty reduction view. All indicators show that many Ugandans are still poor and the poverty situation is worsening. With economic indicators, it’s worthwhile to examine the tools and the value judgment attached to each before one could say that poverty has gone down,” he said.

Mr Mafabi said despite the government rhetoric about Bonna Bagaggawale (Prosperity for All), poverty is accelerating and the number of Ugandans surviving on less than a dollar a day has barely changed.

A recent report by the United Nations warns that not a single country in Sub-Saharan Africa is on track to achieve the internationally agreed target for halving extreme poverty by 2015. The report, published at the midway point in the Millennium Development Goals process, shows that the slow rate by which the number of people living in extreme poverty is reducing is worrying.

According to Mr Mafabi, despite important yet limited improvements in education, healthcare and agricultural productivity in a few countries, the overall trends for poverty reduction, access to clean water and basic healthcare are continuing to crash down.
But the government report shows that poorer parts of the population experienced higher rises in living standards than the more affluent.

“This trend is mainly caused by a decline in inequality of incomes in urban areas. The level of inequality remained the same in rural areas.”

As another indicator of poverty reduction among Ugandans, the report says the proportion of the households residing in single houses increased from 56 per cent to 61 per cent while those residing in huts reduced from 26 per cent to 22 per cent over the same period.

http://www.monitor.co.ug/news/news06256.php

MORE OIL FOUND IN UGANDA


New oil discovery worth sh15,000b
Source: New Vision
Sunday, 24th June, 2007

By Milton Olupot and Emmy Olaki

OIL reserves from the Kingfisher well discovery could be ten times greater than previously believed.

The Post, an Irish newspaper, quoting a presentation by Heritage Oil Corporation to its partners on Monday, said the find pointed to a multibillion-barrel oil potential, estimated at $7b (over sh15,000b).

This is three times Uganda’s budget for the next financial year. The total resource envelope, including donor support, for 2007/2008 amounts to sh5,000b.

Heritage Oil and Tullow Oil jointly own the Kingfisher well on block 3A in Bunyoro, Hoima district, on a 50/50 basis.

Heritage is a Canadian-based international oil company while Tullow is Irish.

The Heritage presentation, published on the same day Tullow announced a major oil discovery in Ghana, refers to an estimated 2.4b barrels of “unrisked resources”.

Heritage said the find was the “most exciting new play in sub-Saharan Africa in the past decade”.

The Kingfisher discovery, with a flow rate of about 14,000 barrels of oil per day, is so far the largest find in Uganda.

According to The Post, the initial indications were that Tullow’s share of possible reserves could be between 100 million and 250 million barrels of oil.

A highly placed source in the Ugandan energy ministry yesterday said it was possible that the area held oil reserves to that magnitude.

“What is being done now is a three-dimensional study which gives the real size of the find. If more oil is found on the bottom of the well where the companies didn’t reach initially, the reserves could even be higher,” the source said.

The Post reported that details of the Heritage presentation helped to lift Tullow’s share price on Thursday, putting the value of the company at $5.3b.

“The Ghana oil discovery, combined with news on Uganda, drove up Tullow shares last week, adding $1.2b to the value of the company,” the report noted.

Tullow Oil last year bought out Hardman Resources, making it 100% owner and operator of Block 2, another block in Hoima where four wells have been drilled, with a combined flow rate that could exceed 14,000 barrels of oil per day once testing of the Nzizi 2 well is done.

Marks&Spencer’s Kenya business grows 10 pc
By CATHERINE RIUNGU
Special Correspondent

Marks & Spencer, a UK retailer at the centre of the controversial foodmiles debate, will not be pulling out of Kenya after all. This follows its announcement that it has grown business with the country by 10 per cent.

“Kenya is and will remain an important trading partner for Marks & Spencer,” M&S chief executive, Stuart Rose said.

The retailer attributed the increased sales to Briton’s appetite for Kenyan flowers, which seems to be increasing year after year.

The chain reported that the 10 per cent growth in 2006/7 was a record.

The announcement comes a month after a similar one by Tesco, Britain’s largest supermarket. Both chains have been under pressure to reduce or ban altogether air-freighted products which are blamed for polluting the environment.

The announcement is a great relief for horticultural exporters, who could be hardest hit if the retailers succeed in persuading buyers to boycott airfreighted goods.

The development comes in the middle of campaigns that gained momentum in February urging consumers to go slow on air freighted produce.

Marks & Spencer imports a wide range of foods from Kenya including vegetables and salad produce such as peas, beans, tender stem broccoli and baby salad leaves, as well as tea and coffee, and is the largest importer of Kenya flowers.

The retailer has been doing business with Kenya for 30 years and reports that the country is one of its most important suppliers, given the rising demand for its high quality, healthy products among the customers. It says that Kenyan produce has contributed to the expansion of its Simply Food stores in a big way.

“Working with our Kenyan suppliers, we have developed a high quality horticulture industry, investing in the development of new crop varieties and production techniques,” said Mr Rose.

He added that the chain would remain a carbon-neutral business and is looking at ways of reducing use of air freight without affecting trading with developing countries.

“This will be done by using alternative modes of transport like shipping, and not by reducing our trade with developing countries,” said Mr Rose.

Towards this end, the supermarket is working with the Carbon Trust to identify carbon emission points in the entire lifecycle of its products. But it defended its decision to label products that are airfreighted “because our customers want to know how their food is transported to our stores.”

The retailer has a customer base of 15.8 million people per week. It employs over 75,000 people in its 520 stores, including 230 Simply Food stores. In 2006/7, its profit before tax was up 28.5 per cent to stand at $1.9 billion (£965.2 million).

So far, reports indicate that aeroplane labels have not dissuaded consumers from buying Kenyan produce. Although the supermarkets were asked not to take action on imported products until studies were completed on the total amount of gases emitted by producers in developing countries from farm to the shelf instead of air freight alone, the retailers went ahead and printed the labels.

Now that the labels seem to have failed to achieve the desired effect, the chains are in the process of indicating the actual miles travelled by an aeroplane from the importing country, a move that has been opposed by lobbyists as ways are sought to effectively handle the carbon miles crisis.

The issue has taken a new turn with the Soil Association of the UK saying that it is conducting studies that could lead to denying organically grown imported products, the certificate to be sold as organic because by being imported they have ceased to be organic. The decision will be made by November.

source - http://www.nationmedia.com/eastafrican/current/Business/Business2506076.htm

New oil discovery in Equatorial Guinea

Noble Energy hits discovery off Equatorial Guinea

Offshore staff

HOUSTON -- Noble Energy Inc. has discovered hydrocarbons on block I offshore Equatorial Guinea. Well I-1, which was testing the Benita prospect, encountered an extremely high quality Miocene reservoir containing 41.5 m (135 ft) of net hydrocarbon pay. Production tests from the well yielded flow rates of 1,038 b/d of condensate and 34.3 MMcf/d of natural gas (approximately 6,755 boe/d), with production rates limited by test facilities.

The I-1 well lies in 886 m (2,880 ft) of water approximately 40 km (25 mi) east of Bioko Island. It was drilled to a TD of 3,218 m (10,460 ft).

The well is approximately 21 km (13 mi) south of the Belinda discovery on block O, which was announced in late 2005.

Noble says additional appraisal work will be necessary to verify the areal extent of the Benita discovery. The work will follow an additional exploration well in block I.

The company is carrying out a multi-well exploration and appraisal program designed to test a number of prospects in the region. The Songa Saturn drillship was scheduled to move to block O to drill an appraisal well on Belinda, approximately 7.25 km (4.5 m) from the O-1 discovery well. The vessel is to return to block I in 3Q 2007 to drill a second exploration well.

Noble Energy is Technical Operator of block I with 40 % participating interest.
Partners include Atlas Petroleum International Ltd., Administrative Operator, with 54% interest, and Osborne Resources Ltd. with 6% interest. GEPetrol, the national oil company of the Republic of Equatorial Guinea, has 5% carried interest once commerciality has been determined.

"Benita represents the first well ever drilled in block I and complements our Belinda discovery in block O," says Charles D. Davidson, Noble Energy chairman, president and CEO. "While more drilling is needed to fully understand our resource potential in the area, we are encouraged by this new discovery and the potential commercial aspects of both blocks. We now have two discoveries with three wells drilled as we continue with our West Africa drilling program. Our next well, the Belinda appraisal well, will commence later this month."

6/25/2007

More African firms to get Superbrand status

By Benson Kathuri

Over 30 local companies and products have been identified as super brands in Eastern, Central and Southern African region.

The UK-based Superbrands has identified the companies that will form the initial list of top brands in the proposed regional branding exercise.

The companies that include Safaricom, Crown Berger and Dyer & Blair Investment Bank will be listed alongside other companies within the Common Market for Eastern and Southern Africa (Comesa) region.

However, the companies that will use the Superbrand mark, that is now recognised in over 70 countries worldwide, will have to pay for it.

"A superbrand establishes the finest reputation in its field and these companies have met our criteria to be classified as superbrands," said Mr Jawad Jaffer, Superbrands project director and associate publisher during a press briefing in Nairobi on Monday.

"It offers customers significant emotional and tangible advantages over competitors," said Jaffer.

Jaffer said the company had established regional classifications in order to create a platform in which companies and products from these regions are easily identified globally.

Out of the top ten strong brands in the world led by Coca-Cola, are based in the developed countries with Asia and Africa struggling to push their products into the global limelight.

Those identified as local brands include Africa Online, Avis, Alpha Fine Foods, Bunson & Carlson Wagonlit Travel, Capital FM, Elianto, Imperial Leather, Kartasi, Kenya Airways, Kimbo and Keringet.

Others are Kenya Shell, Mercedes Benz, Nakumatt, Old Mutual, Pilsner, Roto Moulders, Red Cross, Safaricom, Safaricom Marathon, Smirnoff, Supa Brite, Supa Loaf, Tetra Park, Tropical Heat, Tusker, Uunet and Weetabix.

However, Marketing society of Kenya (MSK) chairman, Mr Tom Sitati said the companies’ require support from consumers and the Government to penetrate the international market.

He said a strong brand for Kenya as a country could give the company the acceptance in the regional and global trading arena. MSK was the pioneer of the ‘Brand Kenya’ initiative in the mid-nineties that aimed at selling Kenya as a brand in an effort to give local products the global exposure.

"MSK developed the initiative and provided the structures and it is now upon the Government to implement it," Sitati said.

Africa's Largest Solar power Plant In Rwanda

Kagame unveils Africa’s biggest solar energy plant
Source: NewTimes
Written by FELLY KIMENYI
Jun 07, 2007 at 02:57 PM


GASABO - As Rwanda marks 25 years of cooperation with the Federal State of Rhineland Palatinate of Germany, President Paul Kagame yesterday inaugurated Africa’s biggest solar energy plant. The infrastructure, which is installed at Jali hill in Gasabo District, was funded by the German state through a company called Stadtwerke Mainz and Rhineland Palatinate citizens to the tune of Euro one million (approx. Frw700m).

At the launch of the facility, the president said that there would not have been a better way to mark the 25 years of cooperation between the two parties.

“In 2004, we (Rwanda) experienced a major power crisis brought about by the falling of water levels in our water bodies and this was at a time when Rwanda had set the pace of development,” Kagame said.

He said that the plant will not only increase the production of power, but also facilitate conservation of the environment at a time when the world is faced with the challenge of a deteriorating eco-system.

He called upon international partners and investors to invest in the eco-friendly power-generating venture which he said was a priority.

During the function, the visiting Minister President for Rhineland Palatinate, Kurt Beck, said that the people in his state are proud of Rwanda having this biggest plant on the continent.

“This comes at a time when the world is facing environmental degradation and this infrastructure we are witnessing sends a positive signal towards preserving it (environment),” Beck said.

The existing power generating plants in the country are hydro-electric which need the use of diesel or petrol which pose threats to the environment.

The State Minister for Communication and Energy, Eng. Albert Butare, said that the new project was conceived way back in 2003 and a Memorandum of Understanding for its construction was signed in July 2006 between the government and Rhineland Palatinate.

“Today, what we dreamt in 2003 has been realised and as of now we are witnessing it becoming a reality. This is a result of the existing cooperation between Rwanda and the Palatinate,” Butare said during the function.

He said that the government, through the Ministry of Infrastructure contributed Euro 200,000 while the rest of the works were financed by the Rhineland.

“The money the Rwandan government contributed to the project was to help pave the road for the plant and the actual works were funded by them,” he added.

The land on which the plant sits was provided by the Ministry of Defence.

The plant generates 250KW.
The construction which was carried out by Stadtwerke Mainz kicked off in January 2007, and according to John Mirenge, the Director General of Electrogaz – the national water and electricity utility – the facility will be expanded depending on the availability of funds to generate more energy.

Africa represents 'unseen opportunity' says investor prince from Saudi Arabia


http://www.ameinfo.com/images/news/6/39866-alwaleed.jpg
His Royal Highness Prince Alwaleed Bin Talal Al Saud has called Africa 'the unseen opportunity' in an interview with leading Middle East business weekly Arabian Business.

May 09 - 2007 at 13:18

In the free-ranging discussion with the magazine, which took place over a 12-hour period, Alwaleed called for a stronger strategy of aid and investment working hand in hand to address the continent's problems.

"There is a syndrome. Unfortunately people in the world amalgamate the whole African continent with one incident or one problem. Okay Zimbabwe has a problem. Burundi has a problem. But Senegal is excellent. Ghana, Kenya, Uganda, Zambia, Angola, Namibia, Gabon or Mozambique - you know, 95% of African countries are okay, there is no problem at all. And there is an opportunity that people are not seeing," Alwaleed told the magazine.

Alwaleed, whose African investments include over ten hotel ventures in Africa, put his current investment returns in the continent at over 100%, achieved through a mixture of aid and investment strategies. Citing Niger, where it is documented that his aid donations have saved over 2 million lives over the recent two-year famine, Alwaleed said: "Now the famine is over and we have been invited to invest in that country. It's a perfect example of giving them the fish and then teaching them how to fish."

Describing Africa, nevertheless, as 'still sleeping', the Saudi prince makes clear his lack of belief in fundraisers such as Live Aid. "I don't buy this. Africa needs a major strategy and we have it." :cheers: And as a Muslim, he makes it clear that his charitable work is important to him, including major contributions made to Tsunami relief last year: "You must at least try and help. You will never negate poverty but you can help make a difference," he said.

The often controversial interview finished at 2am. In the time the magazine team had spent with him, Alwaleed had made over 200 telephone calls, sent some 100 texts and had met with over 573 separate people and had revealed that his US$33 billion business empire was built on a starting stake of US$30,000.

With 300b tons of coal, diamond producer Botswana showcases energy prospects

WINDHOEK -

Botswana, better known for its vast diamond resource, is showcasing its gigantic reserves of coal in the face is a growing energy crisis in southern Africa.

Twenty companies from India, Australia, the United States and neighbouring South Africa are among the 200 delegates in the capital, Gaborone, for a two-day government-organised conference designed to point out the sector's potential.

The conference, which started Thursday with the theme "Botswana 2007 - The Awakening of the Coal Giant", comes at a time the country is preparing to mine the Mmamabula coal deposits projected to be the next main energy source for the entire southern African region.

The Mmamabula Energy Project is a planned coal mine and a power plant with a proposed capacity of between 2100-MW and 2400-MW, and is considered a crucial project for meeting a looming electricity shortfall in the Southern Africa region.

"The abundance of coal in Botswana has been know for a long time but economics have in the past conspired against significant exploitation of this resource," Permanent Secretary in the Mines and Energy Ministry, Akolang Russia Tombale, told the conference Thursday.

Tombale's ministry estimates the country's coal resource to be over 300 billion tons. The resource is greatly under-exploited with less than one million tons of coal mined per year. CIC Energy--the TSX and BSE-quoted company that is progressing the Mmamabula coal deposits--speaks of a global mineral resource estimate of approximately 2.3 billion tons at its project.

He added, "Emerging economies of China and India have led the growth in demand for coal internationally and present potential markets for Botswana coal.

"The increasing power demand in the SADC region offers this country an opportunity to transform from a net importer of power to a net exporter leveraging on its coal resources."

Dangling a carrot to investors, Tombale said Botswana had one of the most "progressive" mining codes in the world, with stability and predictability in the mineral legislation.

He said the country's mining code allowed for "virtually automatic" granting, renewal and transfer of mineral concessions. He said the code made provisions for a retention licence allowing a company that has completed an exploration programme and confirmed discovery to retain rights over the mineral deposit in the event that it could not be economically exploited immediately.

Tombale said the country also had a generalised tax regime that applies to all minerals except diamonds with a corporate tax of 25 percent. It also made provision for an immediate 100 percent capital write-off in the year that investment is made with unlimited carry forward for losses.

"Our assurance to any investor is that whatever agreements they enter with the government will be honoured and respected," said Tombale. "Such agreements are premised on the win-win principle. The resources will be exploited for the benefit of the nation while allowing the investor to earn competitive returns."


http://www.mineweb.net/mineweb/view/mineweb/en/page38?oid=22730&sn=Detail

NIGERIA:Beta glass records N5b turnover, to export to Southern Africa

UDEME CLEMENT-OGBUANU

Beta Glass Plc has recorded a turnover of N5.27 billion in the 2006 financial year, against the N4.82 billion realised in the 2005 fiscal year, showing an increase of 9.3% in 2006. The company has also concluded plans to expand it export capacity, in order to improve on its margin.

The Chairman of the company, Chief Christopher Oladipo Ogunbanjo, made this declaration at the occasion of the 33rd Annual General Meeting of the company held in Lagos recently. He added that in the first quarter of the 2006 economic year, the alcoholic beverages industry continued to experience a slowdown, which started from the second half of 2004, and that the state of decline impacted negatively on the bottle manufacturing industry. As a result, his company temporarily suspended operations in one of its furnaces at Guinea plant, located in Agbara, thus improving utilisation of the other furnace and waiving a depreciation charge of N227 million for the shut down furnace in line with best practices and related accounting standards.

According to him, they had streamlined their operations in 2006, to reduce costs, so that they could remain competitive despite significant increase in energy prices by 18%, as well as increase in the costs of raw materials. "In 2006, we continued to drive quality by securing the execution of all investments, application of standard operating procedures and continuous training for our people. Our quality efforts were recognized by our passing successful audit exercises conducted by a number of multinational companies operating in Nigeria", he said.

He said that in the year 2006 also, his company had a smooth business relationship with key business partners, and was able to also capture and meet their needs as soon as the market conditions improved. "In fact, that was realised in the second half of 2006, when the brewery sector showed a recovery and new products were also launched into the market, leading us to a 44% increase in volumes of production when compared with 2005", he maintained.

Chief Ogunbanjo in giving an overview of the economic environment in 2006 revealed that the Nigerian economy in that particular year fundamentally improved due to relative stability of the naira exchange rate against the dollar. And there was reduction in the inflation rate to 8.5%. He mentioned that the Federal Government had in the same year reduced the country's debt, while the Gross Domestic Product (GDP) grew by an estimated 4.2%, while some significant investments were realised in the energy generation and telecommunications sectors of the economy.

He however maintained that the economy in 2006 enjoyed another year of decreasing interest rates, following the successful completion of the consolidation exercise in the banking sector. "In 2007, we look forward to similar positive impact in the business environment, which would be to the benefit of all stakeholders in the economy", he said. Responding to the question on the future prospects, he said that Beta Glass would continue to build upon the foundation laid over the previous years, and that it aims to grow its customer base and develop the export market to reach Central and Southern Africa, and thus consolidate its position as the regional leader in the glass market.

NIGERIA:Beta Computers to open assembly plant in lagos

Last Updated: July 2nd, 2007
June 25th, 2007
CHIDIEBERE NWANKWO

Beta Computers Limited, manufacturers of Speedstar range of computer systems, has announced plans to formally open its ultra-modern PC Assembly factory in Lagos Wednesday.

Will Anyaegbunam, managing director of the company, said that the factory which would be formally opened next week would greatly enhance the capacity of the company to meet large orders which the company had been receiving lately.

Anyaegbunam said that the event would be under the chairmanship of Bath Ebong, group managing director and chief executive officer of Union Bank Plc. The director general of National Information Technology Development Agency (NITDA) Cleapas Angaye would be the special guest of honor.

According to him, the event is a milestone for the company as the factory is the first of its kind in the country with a semi - automated, motorised conveyor line for the actual assembly of the PCs, with a capacity for 200 PCs per day in the first phase, which would be increase geometrically soon afterwards. "This formal opening will also offer us the opportunity to unveil our laptop computers - "Speedstar Starnote" series which has been more than 12 months in development and testing to ensure that the final product is of the highest quality comparable to any international brand notebook out there."

Other eminent personalities expected at the event include Sebastian Adigwe, group managing director of Afribank PLC, Chris Nwannenna, president of the Nigeria Computer Society (NCS) and the president of the Computers Registration Council of Nigeria (CPN). Others include Isaac Orolugbabe, managing director of Fedex, Emeka Ndu, managing director of C&I Leasing PLC, Anthony Osa Oboh, managing director of Unique Venture Capital Management company and Hakeem Gbajabiamilia, former governorship aspirant in Lagos State.

It would be recalled that Beta Computers only two weeks ago, introduced to the Nigerian market a new series of affordable PCs christened "Speedstar Skola" specially designed for learning, and training at homes and in schools.

Anyaegbunam had assured that the new brand of PCs offer the best value in the market today for propagating the desired e-learning experience for scholars at every level.

Speedstar PC is the current "PC Brand of the Year 2007'', an awarded by the Titans of Tech Organisation.:banana:

good work beta!

Uganda: Huawei-Utl $50m Deal

2 July 2007
Posted to the web 2 July 2007

Phillip Nabyama
Kampala

Chinese high-tech enterprise, Huawei Technologies has entered into a US$50 million agreement with uganda telecom to augment the latter's GSM network to 70% national coverage by November.

In the lucrative deal, Huawei will provide and install an additional 200 Base Transmission Stations (BTSs) in the first phase of the planned two phased expansion strategy.


When the other lot of another 100 BTSs are installed in the second phase, uganda telecom will have the largest number of BTSs in the country which will result in greater coverage.

BTSs are responsible for handling traffic and signalling between mobile phones and the Network Switching Subsyste

Signed in Kampala last Friday, the roll out agreement will include a network upgrade that will see an expansion on the existing state of the art Intelligent Network (IN) and Mobile Switching Center (MSC) switches.

This prime expansion will also come in handy during the Commonwealth Heads of Government Meeting (CHOGM) due in Uganda later in November.

The new IN, according to uganda telecom officials will also come with additional value added services that its customers will enjoy and also place them (the firm) in a better position in terms of product innovation and quality now synonymous with the sector.

Uganda's telecommunications sector was last year liberalised and has since then attracted two new firms to make the number of players in the highly competitive sector hit five, the largest in East Africa.

Eng. Abdubaset Elazzabi, the uganda telecom managing director said that plans were in high gear to step up their customer base to over two million by end of 2008.

"Once we have finalised our expansion plan, we will comfortably be able to deliver the most friendly and most relevant solution to more Ugandans," Eng. Elazzabi said.

Currently the firm has over 600,000 subscribers for both its mobile and landline product portfolios. There are over 2.5 million mobile and landline subscribers in Uganda shared among the three active companies.

"We are confident that uganda telecom will benefit from Hauwei's expertise in the field of GSM, recognising the high potential and ever increasing requirements of he local markets,' Hauwei regional director, Mr. Lauren Fan said in a statement after the signing.

The firm has also in a bid offer increased mileage to its customers entered into agreement with Goal Technology Solutions (GTS) to provide broad band communication solutions that use existing electricity cable as an access carrier for all communication services.

With the Power Line Communication (PLC) solutions, customers will have the opportunity to access communication a faster and more convenient way as no additional telephone or internet cabling will be required.

And better still, uganda telecom will install the PLC for its qualifying customers at no cost.

Coca Cola to build regional headquarters in Nairobi

By A STAFF WRITER
The EastAfrican

Soft drink giant Coca Cola is finally putting up a Ksh700 million ($10.4 million) headquarters building to oversee its operations in 27 East and Central African countries, after years of shuffling its regional offices.

The Nairobi office is responsible for Angola, Botswana, Burundi, Comoros, Congo Brazzaville, Democratic Republic of Congo, Djibouti, Ethiopia, Eritrea, Kenya, Lesotho, Madagascar, Malawi, Mauritius, Mayotte, Mozambique, Namibia, Reunion, Rwanda, Seychelles, Somalia, St Helena, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe.

The ground breaking ceremony in Nairobi’s Upper Hill area was led by Kenya Vice President Moody Awori and Nathan Kalumbu, Coca Cola’s president and chief executive for Coca Cola East and Central Africa.

Mr Kalumbu said the new headquarters will end the perennial problem the organisation has faced of having its operations housed in three different buildings in the Kenyan capital. This has adversely affected fast decision making and collaboration.

Some of our employees are housed at the Old Mutual Building in the Central Business District, another group is at Britak Centre, and the third is at Symbion House, next to Don Bosco Catholic Church. This has proved to be a real challenge in terms of teamwork and rental costs among others,” said Mr Kalumbu. “So we undertook to find a way of consolidating our employees into a single building in order to improve productivity and teamwork as well as contain the rising costs arising from working separately.”

Coca Cola has had a presence in Africa since 1928, when its first bottling plant was established in Johannesburg. In the rest of Africa, Coca Cola, the soft drink, was first produced after the Second World War. The business has been continually expanding ever since.

With its track record in marketing innovation, Coca Cola’s proposed new head office is a vote of confidence in the newly expanded East African Community with its population of over 110 million people.

“Over the last eight months, our building consultants and ourselves have worked extremely hard to develop the new building design that we have, because we knew it highlights our tremendous strengths in these markets, as in many others, in a strategic and compelling way. It is the key to fulfilling our collective vision for a brighter and more prosperous business,” he said.

The building is expected to be complete by June 22, 2008, a year from the ground breaking.

Uphill struggle for Gulf investors in N.Africa but in Morocco everything is going well

Tue 3 Jul 2007, 12:21 GMT
[-] Text [+]

By Tom Pfeiffer

RABAT (Reuters) - Arab Gulf petrodollars are flooding into North Africa, helping investment-starved economies create jobs and help overcome poverty.

On paper, that is.

In reality, question marks hang over projects ranging from a vast free trade zone in Libya to a $5 billion aluminium refinery in Algeria and a reported $14 billion Tunis tourism complex.

Arab Gulf ruling families have ploughed oil profits into new industries to reduce their reliance on the energy sector but growth is slowing in many of those domestic industries, forcing them to look further afield for new opportunities.

Political and cultural links should give them a competitive advantage in North Africa, where decades of sluggish private sector activity have seen the region's economies fall far behind their wealthy European neighbours.

Progress is held back by red tape and graft. To get projects off the ground, foreign investors must play a nebulous game of political patronage where business rationale is subsumed by complex private interests, analysts say.

Morocco ranks at 115 out of 175 in a World Bank survey of business-friendly countries and Algeria is at 120. Libya, emerging from heavy economic sanctions, does not have a ranking.

In Morocco, the only North African country with no oil and keen to draw inward investment, the government has fast-tracked investment projects by streamlining the country's cumbersome business rules for the benefit of Gulf developers.

"Morocco is the place they'll probably get things moving fastest but Algeria and Libya are the ones where you see most potential," said David Butter, Middle East business editor at the Economist Intelligence Unit.

"In those countries there is a need for effective project management and there's no shortage of resources. It's just a question of getting things done."

SLOW PROGRESS

Dubai property firm Emaar has teamed up with one of Libyan leader Muammar Gaddafi's sons for its biggest project by land area, the Zowara-Abu Kemash Development Zone in Libya. The project has been delayed as details are worked out.

Tunisian media said last month that Dubai Holding would invest $14 billion in a tourism hub north of the capital Tunis but nothing has been heard since.

Business people in Algeria say Africa's second-biggest country is crying out for foreign investment and exposure to global best practice in services, where its record is poor.

Government officials agree the country lacks management expertise and technology and hope to more than double foreign investment outside the core oil and gas industry to $7 billion in 2007, with the bulk of the rise coming from Arab companies.

Kuwaiti and Egyptian firms have found success in Algeria's telecoms sector, but only a handful of large-scale projects involving Gulf firms have come to fruition, such as a 1,200 MW power station at Hadjret En Nouss.

Two United Arab Emirates firms signed a deal with state energy firm Sonatrach to build a $5 billion aluminium smelter with annual capacity of 700,000 tonnes, according to a UAE media report in March. Nothing has been heard of it since.

The local press has reported talks on a multibillion dollar project to modernise part of the Algiers waterfront involving five-star hotels, business centres and posh villas, but there has been no official word on the details.

"The Algerians are trying to draw large-scale investment to petrochemicals through firms like Sabic (Saudi Basic Industries Corp.) but there's still some stickiness in getting these things off the ground," said Butter.

RISK TAKERS

The picture is different in Morocco, where Gulf investors have signed up for projects worth as much as $30 billion over and brought some of Dubai's pazzaz to the kingdom.

Dubai Holding is working round the clock in the sleepy capital Rabat, rapidly transforming the Bouregreg estuary in a $2.7 billion project to add walkways, hotels, shops and a marina under the impressed, if bemused, gaze of locals.

Work began last week on the $350 million Mazagan luxury resort south of Casablanca. Qatar investors have launched a $600 million costal complex of hotels, holiday homes and a golf course near Tangier in the north.

Gulf investors still lie far behind the European Union in North Africa when it comes to long-term investment in high value-added, job creating industries such as auto-parts, textiles or outsourcing.

But with their abundant capital and strong political contacts, they appear the most able to swallow risk and push into an uncertain economic landscape.

"When the perceived risks are higher, so will be the expected returns," said Steve Brice, regional head of research at Standard Chartered Bank. "Investors need to be rewarded for efforts and risks, otherwise the investment will not be made."


http://africa.reuters.com/business/news/usnBAN348023.html

The economy resists thanks to oil


Crossed into two since 2002 because of a rebellion in North, the economy of the Ivory Coast, economic heavy lorry of French-speaking West Africa, resist thanks to the rise to power of its production of oil, first station of export in front of the cocoa. The Ivory Coast posted in 2006 a growth rate of 1,8%, stable compared to 2005, and which could reach 2% in 2007, according to the last report/ratio of the central Bank of the States of West Africa (BCEAO), based in Dakar. These figures confirm the “light recovery” started since 2004, after several years of political instability and negative growth (- 0,4% on average over 2000-2005), note the BCEAO in its “economic Outlooks for the States of the economic and monetary Union of West Africa (UEMOA) in 2007”. “The secondary industry is the single source” of this growth in 2006, underlines the report/ratio, thanks in particular to “a production of the crude oil which increased by 71% in one year, doing of this under-sector one of the principal engines of the economy”. The Ivory Coast had up to now built its richness on the cocoa, of which it is the first producer and world exporter. But its production of oil took off these last years at the point to exceed broad bean like first station of export in 2005, note the report/ratio. This famous production of very good quality, from where its important value on the world market, “is mainly exported”, underlines the report/ratio. In 2002, the country, which started to produce oil in 1980, became the only State of the UEMOA “exporting Net of petroleum products”. In July 2005, the production was however, with 21.000 b/j, still lower than its levels reached in 1986 (28.000 b/j), recalls it. It exploded in 2006 with the discovery of new layers, reaching “80.000 b/j at at the end of March”, and of exports of petroleum products which would have increased by 43% to 1.515 billion FCFA (2,3 billion euros). The government of the Ivory Coast posts on its side of the more modest figures. “Oil does not give yet us the financial basket which one believes to have. We are on an average level of production from 40.000 to 50.000 barrels per day”, declared at the end of May 2007 the Minister for Finance Charles Diby Koffi. In Abidjan, numbers observers also consider the production of the Ivory Coast current at at least 80.000 b/j, by underlining however that technical problems (stranding of the wells in particular) limit its expansion. The modesty of the governmental figures, also of setting with regard to the growth (1,8% in 2005, 1,2% in 2006, 1,5% envisaged in 2007) nourishes criticisms on the opacity of the management of the oil incomes. “With the price-cutting of the cocoa, one wonders: from which do the resources come which feed the cases of the State? ”, questioned at the end of April Michel Yoboué, person in charge for a group of associations fighting against the corruption in Abidjan, which claims one audit for “knowing with what” the money serves as oil. In May, the government of the Ivory Coast announced the launching of one audit of its oil sector to answer these suspicions. The World Bank also announced in February the launching of one to that on the subject. “The development of the sector of the oil extraction constitutes an opportunity for the country”, estimates the BCEAO, while judging “paramount” to improve its “framework of management and control” so that it can be used fully as lever with the revival of the growth” of the Ivory Coast.

Nigerian Invents Anti-Rigging Machine!
_______________________________
By Adelani Adepegba, Enugu
Published: Friday, 29 Jun 2007

A Nigerian businessman based in the United Kingdom, Mr. Ben Aghanya, has invented a machine that can prevent election rigging and foster the growth of democracy in Nigeria.

Demonstrating the invention to newsmen in Enugu on Thursday, Aghanya said he designed the machine to prevent a recurrence of the malpractices that characterised the last general election in the country.

According to him, the machine, christened Electro-Mechanical Voting System, relies on internally-connected 12 volts DC power and battery , making it independent of public electricity supply.

He explained that the EMVS was designed to eliminate the catalogue of problems associated with electoral systems in Nigeria, assuring that the machine could reduce electoral fraud to the barest minimum.

Aghanya, who is the Managing Director of Ajacin Engineering Limited, stated that he was motivated to go into research for the production of the machine by what he described as the anomaly in the nation‘s electoral system.

He said, ” I have taken part in past elections in Nigeria and I have witnessed anomalies but nobody has come out with a solution . I was particularly not happy with the way Anambra State Governor, Peter Obi, was rigged out in the state in 2003. ”

Hilighting the attributes of his invention, he said that the machine has a memory which can store evidence of polling exercise for as long as possible, stressing that the essential parts are tamper-proof, a safeguard against the manipulation of evidence.

Aghanya said, ” The EMVS is secure for the following reasons: More than one person is required to control the voting process - minimizing rigging or connivance . All essential system units are locked . The machine has memory which can be stored as evidence as long as possible.”

He called on the Federal Government and the Independent National Electoral Commission to discard the old manual balloting system and adopt the machine, promising to mass produce it locally in order to provide employment for many Nigerians.
http://www.punchng.com/Articl.aspx?theartic=Art200706293273046

Firm predicts 6.2% growth for Kenyan Economy

Story by By KABURU MUGAMBI
Publication Date: 7/10/2007

Asset managers Old Mutual have predicted an improved economic rate of 6.2 per cent on account of better growth by agriculture, manufacturing and tourism.

Old Mutual noted that last year’s growth was muzzled to some degree by drought in the first three months of the year, given that agriculture contribution to the growth is 25 per cent. In 2006 the economy recorded 6.1 per cent growth.

Chief executive Rick Ashley yesterday said tourism, finance and communications sectors had recorded phenomenal growth in the first six months of the year.

“For example, tourism arrivals have shown further upward momentum, the banking sector growth has accelerated and manufacturing has thrived despite high operating costs,” he told reporters in Nairobi during the release of the company’s half-year economic review.

Tourist arrivals increased by 11.8 per cent to 273,909 visitors in the first three months of 2007 compared with 245,059 visitors in the first quarter of 2006 period. The financial sector has also made remarkable growth noted by increased lending by commercial banks as well as increased customer deposits, he said.

Stable environment

One of the key underpinning issues has been the stable macro-economic environment.

“The stability in the macro-economic variables has really supported growth momentum so far, and we expect this to continue,” Mr Ashley added.

Uganda finds Natural Gas

Oil explorers in western Uganda have unexpectedly chanced upon natural gas reserves, which could generate power as early as next year.

Irish oil explorers Tullow Oil announced in a statement that the gas, found in Hoima, flows at a rate of 14 million cubic feet per day.

At current world market prices of $7 per1,000 cubic feet, this amounts to about $98,000 (sh162m) a day from the one well where gas has been discovered.

“When the company drilled Nzizi 2, the idea was to establish the extent of oil deposits in the area, but the hydrocarbons found in this well flowed gas instead. It was not anticipated in the studies carried out,” Honey Malinga, a commissioner in the petroleum exploration and production departmentsaid yesterday. The company, which has successfully drilled four exploration wells in Uganda, said opportunities to utilise the gas as an energy input for early production system will now be studied. The Government plans to process oil for power production by 2009.

Malinga said the economics of gas on the world market had greatly improved in the past few years because of its multiple functions.

“It can be used to push out the oil from the ground if the pressure is low. It can also be used for manufacturing power. Tanzania and Nigeria are producing so many megawatts of power out of their gas. But it can also be used for domestic purposes such as cooking or in hospitals and factories,” he said.

Uganda has a 140MW power deficit during peak hours as hydro-electric power generation has been reduced due to lower water levels on Lake Victoria.

He explained that further analysis had to be done on the gas to establish its properties, and that gas was a lot easier to process than oil.

“It looks like very good gas but its components have to be studied. With gas, you can process and use it within a year. The infrastructure needed is not as complicated as that of oil. The only complication can be in transportation,” he said.

Tullow Oil became 100% owner and operator of Block 2 after buying out Hardman Resources. It is also 50% owner of Block 3A, while Heritage is owner of the other 50% and project operator. The companies’ activities in Kingfisher exploration well, Block 3A, also in Bunyoro, discovered oil flowing at 14,000 barrels of oil per day.

Nzizi-2 oil well, situated in exploration Block 2, in Kaiso-tonya in Bunyoro was drilled as ‘appraisal well’ to confirm oil accumulations in Waraga, Mputa and Nzizi-1 oil wells. These were drilled last year and were found to have a cumulative flow of 12,050 barrels of oil per day.

Uganda, which relies mainly on hydro-electric power, has been hit by shortages due to the falling levels of water in Lake Victoria, affecting the economy.

Related story in Business section

Trophy huntingboosts Namibia's economy

The enormous horns of the sable antelope suddenly appear out of the thick Namibian bush and the man with the rifle pulls the trigger. The animal goes down - a clean shot.

In keeping with tradition, the hunting guide plucks a small branch from a bush, dips it into the blood of the dead animal and hands it to a German tourist.

"Weidmann's heil!" (Hunter's fortune) he says. "Weidmann's dank," (Hunter's thank you), the hunter replies and fastens the branch to his hat.

"I love to come to Namibia to hunt because of the high standard of hunting ethics and the fact that I can also pick German-speaking professional hunting guides," says Dieter Weiler, who owns a small manufacturing plant near Berlin.

While killing wild animals for pleasure might be unacceptable in some parts of the world, Namibia has embraced a more pragmatic notion that a few can die for cash which helps fund the preservation of the rest of a herd.

Trophy-hunting brings in more than two billion Namibian dollars (US$285 million) per annum and has become a valuable part of Namibia's tourism industry.

Hunting is highly regulated and the 400 members of Namibia Professional Hunting Association (Napha) adhere to a strict code of hunting ethics.

Hunting clients, as they are called in Namibia, mainly come from the former colonial power Germany and the US, but lately also from Eastern Europe. Some bring their own rifles, others bow and arrow.

"Game farming is gaining more importance in Namibia and many livestock farmers combine it with trophy hunting as the latter fetches better prices," says Ben Vermeulen, a farmer, who owns a farm some 120km southeast of the capital Windhoek.

"I am not a licensed professional hunter but I allow them to come to my farm with their hunting tourists and shoot carefully selected animals, earning extra in this way."

Auctions reflect the high value set on game species as a sale last Saturday at Okosongoro Safari Ranch, some 280km north-west of Windhoek showed.

Its owner, Peter Clausen has just completed construction of bomas (enclosures) to hold even giraffe, costing close to US$2 million.

"Of the 270 animals for sale, we sold over 90 percent," Clausen said after a two-hour auction attended by some 50 buyers.

"There are only two or three game auctions in the country each year in Namibia and some are live auctions where the animals were caught already and can be viewed in a boma like today.

Others are just a catalogue auction, where a breeding group of say zebra, wildebeest or waterbuck are offered, but caught later, according to Clausen.

The auction on Clausen's farm combined both systems and a sable antelope in the boma fetched US$50,000, the two young giraffe together US$9,000.

A three-year-old white rhino bull, born and bred on his Okosongoro ranch, fetched US$120,000, another young bull and female US$160,000.

Sylvia van Rensburg, who runs a tourism and hunting lodge in central Namibia with her husband, bought all three.

"We are happy with the price," she said afterwards, "we attended a game auction in South Africa recently and one white rhino cost US$300,000 dollars - too expensive."

The three rhinos will not be shot for trophy hunting, according to Van Rensburg. "They will roam freely on our lodge for photo safaris."

Auctioneer Clive Gardener, who flew in from South Africa for the weekend sale, says the quality of game in Namibia is outstanding.

"The hunting industry in Namibia is buoyant and the condition of animals on auctions excellent," he said.

"The buyer is protected because the money for animals bought is paid into a fund. Should a bought animal die on transport, the buyer gets his money back with an interest rate."

A professional game catching company handles the animals and delivers them to the new owners within two months of an auction.

Wild game is also hunted in communal areas, earning rural people an income from tourism and sustainable trophy hunting in a country where 35 percent of the population are unemployed.

"So far 50 communal conservancies are registered covering a total area of 118,704km2 or 14 percent of Namibia's total surface area, benefiting over 200,000 people" says Leon Jooste, deputy minister of environment and tourism.

"In many cases trophy hunting is the primary source of income for these often marginalized and remote communities.

"Trophy hunting, both as a commercial industry as well as a wildlife management tool, holds superior advantages for these communities, who often find themselves in direct competition with wildlife for the natural resources within their immediate areas."


http://www.taipeitimes.com/News/feat/archives/2007/07/14/2003369581

Namibia: 'Country Has Oil'

The first Russian company to have entered into the search for oil along the Namibian coastline will start drilling the first well by October next year, following intensive geological and seismic surveys.

"President Hifikepunye Pohamba said the country needs oil and we hope the Russians will find it first," said representative of the Sintez Group, Dr Khalin Valentine Vladimirovich.


A subsidiary company of the group, Sintezneftegaz Namibia (Ltd), was granted an exploration licence to develop offshore and onshore oilfields in Namibia at block 1711 in the Namibe Basin in June last year. The area covers 8 931 square kilometres.

The company will invest US$80 million in the exploration phase. Under Namibian law, a company that discovers oil and gas fields is granted an exclusive right to obtain a further licence to produce mineral deposits from the licensed allotment.

The Sintez Group holds 70 per cent under the joint development project.

Other stakeholders are Energulf Namibia (10%), PetroSa (10%) [The national oil company of South Africa], NAMCOR (7%), with a BEE component holding 3 per cent.

While hesitant to say what the prospects for oil in the block are, Vladimirovich said that Namibia's oil-hunger "will be satisfied for at least the next 20 years at today's requirements".

"What is important is that this will bring about a strong push for the economic development of particularly the north of Namibia," said Vladimirovich.

Should oil be discovered, reserves will be for the export market, he added.

The offshore geological characteristics of the licensed zone are identical to that of the northern sedimentary basins of the Congo and Kwanza where several large fields with considerable oil and gas content were discovered.

"Namibia will be an oil producing country; there is oil here," he said. "I have already seen it."

Vladimirovich's involvement with Namibia started when he served as a Russian military adviser to SWAPO's PLAN at Lubango, Angola, 20 years ago.

During that time, he said, PLAN operations brought him to northern Kavango - more or less the area licensed for oil exploration. There the combatants drilled for water but instead found "a dark liquid with a consistent oil smell", albeit not of very high quality. The hole was closed and the combatants moved on, "because during the war no-one was interested in oil".

Vladimirovich became re-acquainted with former President Sam Nujoma and the current Minister of Mines and Energy, Erkki Nghimtina, when he was invited to the Namibian Embassy in Russia in 1998.

At the occasion, Nujoma spoke to him about Namibia's oil projects and invited Russian investors to the country.

Vladimirovich then identified the Sintez Group that has experience in all aspects of the oil industry.

The group, which comprises six production and investment companies in the fossil energy sector and related industries, has been operating in the Russian fuel and energy market since the early 1990's.

It is involved in oil exploration in the offshore regions of Barents and Pechora Seas, north of Russia, as well as in Siberia.

Should oil be discovered, companies are required to provide the State with an environmental impact assessment and environmental management plan for approval.

Possible environmentally sensitive areas included in the exploration block are the area offshore from the Kunene River mouth that is important for fish spawning and a place for breeding of migrant seabird species. Some of the bird species are under consideration for the World Conservation Union conservation's status listing.

Some rare whale and dolphin species, considered to be vulnerable because of their limited distribution, are also found in the area.



http://allafrica.com/stories/200707130862.html

ALGIERS (Reuters) - Algeria awarded a contract to France's Total SA on Monday to build and operate a steam cracking complex able to produce 1.4 million tonnes of ethane per year, officials said.
The project is worth over $3 billion and the plant, to be built on Algeria's northwest coast in partnership with state energy firm Sonatrach, will also produce polyethylene and ethylene glycol.
The plant will be financed 49 percent by Sonatrach and 51 percent by Total and the products will be sold on the national and international markets.
It is the first of six petrochemical projects Algeria has launched for an estimated overall value of $12 billion.
The results of a further tender for a complex capable of producing 1 million tonnes of methanol per year were expected later on Monday, the officials said. That project will also be a partnership of Sonatrach and a foreign company.

I was so surprised:uh: :uh: to read that Equatorial Guinea has growing ties with the Phiillipines. The president of the Asian country visited Equatorial Guinea last month. Has she gone to any other African country??? The Filipino community in Equatorial Guinea is already more than 4500 (!!!). Unbelievable!!!! It is worth reading....



President Arroyo calls for greater cooperation between her country and Equatorial Guinea during her visit
by Glenda @ 12:59 pm. Filed under News
June 30, 2007

BATA, Equatorial Guinea (28 June) — From colonization to cooperation. Thus declared visiting President Gloria Macapagal-Arroyo in her toast reply during the official lunch tendered Tuesday in her honor by Republic of Equatorial Guinea President Teodoro Obiang Nguema Mbasogo at the Reception Hall of the Africa’s Palace here. “It is time to move our relations forward from colonization to cooperation,” the President said in the Spanish dialect. She noted that the Philippines and Equatorial Guinea share a common history and culture, with both countries discovered by Portuguese explorers and later colonized by the Spaniards.

According to the President, there are many opportunities for cooperation between the two countries despite the Philippines being located in East Asia and Equatorial Guinea in Central Africa. “Our two countries share a legacy and a similar culture though we are located far away from each other - you in the western edge of Africa and we in the eastern edge of East Asia…Equatorial Guinea is the only Hispanic country in Africa and the Philippines is the only Hispanic country in Asia,” the President said. She said Equatorial Guinea is rich in natural resources while the Philippines is rich in skills and talents as exemplified by the more than 4,500 Filipinos working at the banking and construction sectors here.

The President added that the Filipino people are also experts in services, telecommunications, construction, mining, agriculture, fisheries, and water distribution. In his toast, President Obiang acknowledged these, saying his country looks forward to further cooperation with the Philippines in the fields of technology, trade and commerce. After the state lunch, the President witnessed the signing of a Joint Communique to promote bilateral cooperation between the two countries at the Bata International Airport, after which she departed to meet with the Filipino community in the capital of Malabo. Earlier in the day, the President had a meeting with her Equatorial Guinean counterpart at the Africa’s Palace. After their meeting, President Obiang conferred on President Arroyo the National Order of the Independence, the highest award accorded by the Guinean government to a visiting head of state.

Never heard about that in africa maybe she meant hispanic immigrants, particularly in Equatorial Guinea!

07.17.07, 10:20 AM ET

ALGIERS (Thomson Financial) - Algeria's state oil company Sonatrach and Norwegian state oil company Statoil ASA have signed contracts in Cairo for research and oil production off Egypt, west of the Nile Delta, Sonatrach said.

'The consortium, comprising Statoil as operator with a stake of 80 pct and Sonatrach with 20 pct, is committed to carrying out a drilling and subsequent seismic programme over a period of four years', Sonatrach said in a statement.

The contracts will be carried out by a unit of Sonatrach, Sonatrach International Petroleum Exploration & Production (SIPEX), in partnership with Statoil.

'Through this new acquisition which is part of its strategy aimed at strengthening its position and its role as a regional actor in north Africa, Sonatrach is beginning its first experience in offshore exploration', it said.


tf.TFN-Europe_newsdesk

I was so surprised:uh: :uh: to read that Equatorial Guinea has growing ties with the Phiillipines. The president of the Asian country visited Equatorial Guinea last month. Has she gone to any other African country??? The Filipino community in Equatorial Guinea is already more than 4500 (!!!). Unbelievable!!!! It is worth reading....

Its probably because Eq. Guinea is the only Spanish speaking country in Africa. That, and there also aren't a lot of countries outside of the western hemisphere that have spanish as the lingua franca. Eq. Guinea and the Phillipines are just about the only ones besides spain.

So, it makes sense that they would try to get close.

Its probably because Eq. Guinea is the only Spanish speaking country in Africa. That, and there also aren't a lot of countries outside of the western hemisphere that have spanish as the lingua franca. Eq. Guinea and the Phillipines are just about the only ones besides spain

:ohno: All of Central and South America speaks Spanish (apart from Brazil, French Guyana, the French and British West Indies). The lingua frnaca is Spanish allover those places.:)

Its probably because Eq. Guinea is the only Spanish speaking country in Africa. That, and there also aren't a lot of countries outside of the western hemisphere that have spanish as the lingua franca. Eq. Guinea and the Phillipines are just about the only ones besides spain.

So, it makes sense that they would try to get close.

As Matthias has stated, almost all of South and Central American countries speak spanish. Additionally Mexico in North America plus Caribbean countries such as Cuba and Dominican Republic speak Spanish.

Spanish, however is NOT the lingua franca of Phillipines. It's English and Filipino. Spanish was the official language for more than 300 years till the American occupation changed it to English in the early century. The Hispanic population of the country is quite small so I don't know why there would be a quote saying it is the only Hispanic country in Asia. Spanish is still spoken by a small minority.

:ohno: All of Central and South America speaks Spanish (apart from Brazil, French Guyana, the French and British West Indies). The lingua frnaca is Spanish allover those places.:)

Dude...read my comment over again carefully

Its probably because Eq. Guinea is the only Spanish speaking country in Africa. That, and there also aren't a lot of countries outside of the western hemisphere that have spanish as the lingua franca. Eq. Guinea and the Phillipines are just about the only ones besides spain.

So, it makes sense that they would try to get close.

The western hemisphere is Central, Southern and Northern America, and Europe to. I said outside of it.

We all know that within the western hemisphere there are tons of spanish speaking nations.

Spanish, however is NOT the lingua franca of Phillipines. It's English and Filipino. Spanish was the official language for more than 300 years till the American occupation changed it to English in the early century. The Hispanic population of the country is quite small so I don't know why there would be a quote saying it is the only Hispanic country in Asia. Spanish is still spoken by a small minority.

My bad on that, then. Still, they are two of the only former spanish colonies outside of the western hemisphere, so there is still a link.

Some people still talk spanish in Phillipines.

So basically what they have in common, is that they dont have that much in common with the rest of the hispanic world. understandable.

Kenya now attains high growth status

By Elizabeth Mwai

Kenya has moved from the Less Developed category to Developing status, a UN report says.

The change is attributed to economic growth driven by a fast expanding private sector and tourism, says The Least Developed Countries Report 2007, launched by the UN on Thursday.

This means the country is on the path to poverty reduction and towards sustained economic growth.

But the report notes that Kenya is still lagging 30 years behind the frontier countries due to inequitable distribution of wealth.

UN-Habitat Director, Mr Oyelaran Oyeyinka, said Kenya scored high in terms of improved incomes, literacy levels, life expectancy, vulnerability and growth of private enterprises.

"But we need equity on wealth distribution because that is a disease of the under-developed countries that is why we have a lot of crime," said Oyeyinka.

Kenyans urged to demand for equitable wealth distribution

Speaking during the launch of the report by United Nations Conference on Trade and Development at a Nairobi hotel, Oyeyinka urged Kenyans to demand for equitable wealth distribution.

Oyeyinka said Kenyan politicians were ignorant of problems affecting the population.

He, however, asked Kenyans to deepen their knowledge base in terms of innovations, value addition and product diversification so as to generate more revenue for the country.

He warned against over reliance on traditional cash crops as they could adversely affect incomes during currency fluctuations.

For instance, he said, Kenya has placed too much emphasis on horticultural crops instead of diversifying to other products that would bring more income.

The report also challenges Kenya to invest more in infrastructure to accelerate development.

Oyeyinka said improving infrastructure would deepen the country’s knowledge base.

"Building on infrastructure will allow competition to grow," Oyeyinka said.

Fibre optic technology to boost communication

The report, however, commended Kenya for embracing the fibre optic technology, saying it would boost faster communication.

Some investors have been reluctant to venture into the country due to poor infrastructure.

The UN report, however, says there is optimism that the country’s infrastructure is steadily improving.

The report also urged the Government to adopt policies to stimulate technological catch-up to speed up economic growth.

It warns that unless Kenya invests in advancing technology it will face deepening marginalisation in the global economy.

"Moreover, the focus of those policies should be on proactive technological learning by domestic enterprises rather than on conventionally understood technological transfer, and on commercial innovation rather than on pure scientific research," it stated.

The report urges governments to invest in and use research stations and their innovative capacities.

It also warns against over-reliance on foreign investment for growth.

"There is little evidence of a significant contribution by Foreign Direct Investments to technological capability accumulation in least developed countries," warns the report.

FBN AFRICA: Hope of Africans' own CNN?


Written by Laolu Akande, New York
Friday, 20 July 2007


With an unprecedented level of financing from a US bank, a US-based Nigerian communication expert and former UNICEF official announced the formation of what is expected to become Africa's own independent satellite news network reporting about Africa around the world.

Besides, the Ijaw-Andoni born Dr. Aaron F. Nmungwun is partnering with the eminent historian and producer of the world famous TV series- THE AFRICANS: A TRIPLE HERITAGE, Professor Ali Mazrui to launch the FBN Africa broadcasting network on Wednesday evening in New York.

"We as Africans, we have been assimilating CNN and other western versions of the news before now, the time has now come for us to tell our own stories," Nmungwun said in New York on Wednesday. For generations, Africa has lacked a voice in the international community, said Dr. Aaron F. Nmungwun, CEO and Founder of Foisi Broadcasting Network. "FBN Africa will be a reflection of Africa and the emergence of the African perspective on others in the world."

Significantly a US financing firm, Sofitel Capital Corporation has granted FBN Africa a $60 million medium term loan to finance the project whose first phase would take off in Nigeria with the construction of 16 TV stations across the country starting in Abuja, where a superstation would be built. Nmungwun said the construction of the stations of the FBN Africa network for the first phase would soon commence and would be done between 10-21 months and by August next year the network would already be on the air.

Both Mazrui and Nmungwun were at the launching of FBN Africa in New York, and the event also marked the 21st anniversary of the TV series The Africans produced and presented by Professor Mazrui. Mazrui who is the chairman of FBN Africa's Advisory Board said the project represents "Africa's catching up with the positive aspects of globalization." He said in the area of information, Africa was still lagging behind, and "we need to catch-up."

Lamenting how far behind Africa is in the arena of information revolution, Mazrui gave an example that 2 major US colleges have more computers that one particular country in Africa with a population of 20 m people. The notable African scholar observed however that Africa is making progress politically, and also in the area of cellular phone communication. But he said to make the information revolution complete, "we need to enter into the mass media by radio and TV and greater participation on the Internet."

He identified the FBN Africa as the enterprise that is the "facilitator for Africa to catch up with the information revolution." Adding that while some government-owned TV stations have also started moving in that direction, "we need a pan-African umbrella and that is where FBN Africa comes in."

Mazrui described his role in the project as that of an elderstatesman, promising to personally feature once the TV gets on the air. Nmungwun said Mazrui has been with the FBN Africa team "from the beginning." Other board members of the FBN Africa, which is chaired by Nmungwun, include Mazrui, retired Gen. David Jemibewon, Mrs. Halima O. Adasi, a founding partner and company's Executive Vice President for Administration, Mr. Debola Omooba, a Lagos-based lawyer, Funke Adekoya, SAN, and Dr. Tunde Soleye.

The first phase construction which he said would include the construction of stations receivers, transmissions, studios constitute a $30m complement of the loan as the cost of equipments alone.

According to FBN Africa, the funding would be used to finance the first phase of the construction and operation of what is being billed as the first Pan-African broadcast radio and television network. Similarly the project also has the British Telecom as the primary technical partner and also GlobeComm Systems of Hauppauge, New York.

At an impressive ceremony oat the World class Waldorf Astoria Hotel in New York on Wednesday evening, the Dr. Nmungwun said the FBN Africa TV network would be launched throughout Africa and would be received in cities across the continent.

He disclosed that the Nigerian federal government as also granted the FBN Africa a Direct Broadcasting Service, DBS-license which would enable the station to broadcast from Nigeria to other parts of Africa and the world. After the first phase of the project which would result in the building and operation of 16 TV stations of FBN Africa in Nigerian major cities, the project would then move to South Africa, Kenya and Senegal for the second phase of its operation.

Nmungwun said while the main headquarters of the FBN Africa would be in Abuja, the French headquarters would be in Senegal.
FBN Africa was formed according to the company was formed with the goal of establishing the first pan-African satellite/terrestrial radio and television broadcast networks and Internet services.

Dr. Aaron F. Nmungwun, a Ph.D. holder in Communication had media working experience in the US with television companies such as HBO, Showtime, Black Entertainment Television, NBC, CBS, ABC, VH-1, Time Warner, MTV, Columbia Pictures, Disney and Nickelodeon. For over 20 years, he has been a part of winning teams in the television industry, working as an executive, adviser and as a consultant with well-known entertainment, media and broadcast television companies.

Dantexavier, just a question: Since when is South America the Western Hemisphere??? Do Peru, Bolivia or Ecuador belong two the Western Hemisphere?? "indígenas" make up almost 95% of those Andean countries. Someone from South America belongs to the Southern Hemisphere, nno matter if more than 90% of Argentinians are of European origin, they no longer regard themselves as Spanish or Italians or germans.

Here is the definition!:) "Western Hemisphere" is a complex term! You are right that the Americas belongs to the Western Hemisphere, although I ask myself why Peru , Ecuador and Bolivia or even Mexico form part of the Western Hemisphere when in some countries the "indigenas" form the majority of its inhabitants!:dunno:

From Wikipedia, the free encyclopedia

The Western Hemisphere, is a geographical term for the half of the Earth that lies west of the Prime Meridian (which crosses Greenwich, England), the other half being the Eastern Hemisphere. Less properly, it can refer to the Americas and associated islands and waters (or the New World), while excluding other territories that lie geographically in the hemisphere (parts of Africa, Europe, Antarctica, and Asia). "Western hemisphere" is sometimes used as an equivalent for the geopolitical construct, the "Western World", which typically includes the Americas and Western/Central Europe.

A hemisphere is a geometric term that literally means "half ball", and in geography the term is used when dividing the Earth into two halves. The most obvious dividing line is the equator, creating the northern and southern hemispheres. These hemispheres are based on unambiguous reference points — the north and south poles — which are defined by the Earth's axis of rotation and, in turn, define the equator. Any definition of eastern and western hemispheres, however, requires the sextion of an arbitrary meridian and a corresponding meridian on the other side of the Earth. The Prime Meridian at 0° longitude is typically used, which runs through Greenwich (London) in the United Kingdom; this is used to define the International Date Line (or End Meridian) on the other side of the Earth at 180° longitude. In its proper geographic sense, the western hemisphere includes not only the Americas, but the western portions of Europe and Africa, the easternmost tip of Russia, numerous territories in Oceania, and a portion of Antarctica while excluding some of the Aleutian Islands to the southwest of the Alaskan mainland .

Matthias

I tried to respond to your urgent query but learnt that you have apparently exceeded your storage quota. Once you have got enough space in your account, send me a private message and I will resend my response. Alternatively, I can post it somewhere on this website if you prefer.

Ok?

AOA

Best performing economies in Africa

1.South Africa
2.Tunisia
3.Mauritius
4.Botswana
5.Egypt
6.Morocco
7.Algeria
8.Nigeria
9.Lybia
10.Ghana

Interestingly enough there is not one french-speaking nation in this year list,maybe Cote D'ivoire,Cameroon or the Democratic Republic of Congo will pull on their vast human and natural resources to be among the top ranked economies of Africa
Source:Published Africaincorp

Interestingly enough there is not one french-speaking nation in this year list,maybe Cote D'ivoire,Cameroon or the Democratic Republic of Congo will pull on their vast human and natural resources to be among the top ranked economies of Africa


Boris89, Well, Morocco is French-Speaking, same for Algeria, Tunisia, and Mauritius (which is bilingual)! So there are three/four French-speaking African countries! I wonder why Senegal doesn´t figure among the ten best, it shoud be there, no doubt about it!:) Senegal´s economic growth is on par with that of Ghana or even slightly higher, so why isn´t it in here?

I guess what boris meant was no continental sub-saharan francophone countries :) but I must agree with you Matt, Senegals absence from the list strikes me as very strange.

Well Angola, Mozambique and Sudan aren't in the top ten, so the criteria is most likely not based on Economic growth alone.

So that should probably explain why Senegal isn't on the list, although I cannot emphasize on that, because I know nothing about Senegal's economy.

Gabon chosen for sub-regional head-office of FAO: Jacques Diouf officially inaugurates FAO’s Sub-regional Office in Libreville


25 July 2007, Rome/Libreville – As part of FAO’s reform process, Mr. Jacques Diouf, the Organization’s Directeur General, today officially inaugurated FAO’s Sub-regional Office for Central Africa in Libreville.

Addressing Gabon’s Prime Minister Mr. Jean Eyéghé Ndong and the many political and diplomatic figures present at the inauguration ceremony, Mr. Diouf said he was convinced that the sub-regional Office in Libreville «would answer the needs of Central African countries and help in our common struggle to achieve food security for all countries of the sub-region».

Mr. Diouf thanked the President and the Government of Gabon for their «constant support to FAO» since joining the Organization in 1961. He added that FAO had undertaken «important reforms in an effort to adapt to changes in the global environment» and had, as part of a decentralisation strategy, set up a number of new sub-regional Offices in Africa and elsewhere.

As well as the six member countries of the Economic Community of Central African States (ECCAS) -- Cameroon, the Central African Republic, Chad, the Congo, Equatorial Guinea and Gabon – the Office in Libreville will also serve the Democratic Republic of the Congo and Sao Tome and Principe.

These countries will benefit from the technical support of the sub-regional Office, drawing on the skills of specialists covering FAO’s main fields of technical expertise: agricultural policy, investment, land and water, fisheries and aquaculture, forestry, plant production and protection and animal health. For two years, seven young experts from Gabon will take turns working alongside the multi-disciplinary team of FAO specialists.

The Sub-regional Office is expected to make a significant contribution to the implementation at national level of the Detailed Programme for the Development of Agriculture in Africa and the decisions taken at the African Union Summit in Maputo (July 2003).

The other Sub-regional Offices for Africa are located in Ghana for West Africa, Ethiopia for East Africa, Zimbabwe for Southern Africa and Tunis for North Africa.

Although part of FAO’s network of regional Offices, the Sub-regional Offices have a high level of autonomy which enables them to respond swiftly and effectively to requests from countries of the sub-region and regional economic development organizations.

Best performing economies in Africa

1.South Africa
2.Tunisia
3.Mauritius
4.Botswana
5.Egypt
6.Morocco
7.Algeria
8.Nigeria
9.Lybia
10.Ghana

Interestingly enough there is not one french-speaking nation in this year list,maybe Cote D'ivoire,Cameroon or the Democratic Republic of Congo will pull on their vast human and natural resources to be among the top ranked economies of Africa
Source:Published Africaincorp

Rank based statistics like this should be banned.ignored.
Who knows who is africaincorp????????????????
Who knows the criteria they have taken into account?????????
It might be a study paid by some countries for political benefit,who knows??
These ranks statisc are totally unscientific based on anything but real economic factors.

If you want to have an idea about economic progression,its not that hard..
You may take GDP,economic growth,electricity production,industrial developement,asphalted roads beeing buil,devpt of telecommunication...who are well known and then you compare.

Thanks,we have some real figures about economic growth,otherwise Sudan would have been put by these unknown organisation in the same level of Cameroun and congo

The enormous potential and optimism of Nigerians will see them move top of this list in the near future. Why? See this recent poll:

Africans say they are better off - NY Times poll
Wed 25 Jul 2007, 10:59 GMT

WASHINGTON (Reuters) - A plurality of Africans polled in 10 sub-Saharan countries say they are better off than they were five years ago, but a majority sees corrupt political leaders as a big problem, The New York Times said on Wednesday.

"Many said they faced a wide array of difficult and sometimes life-threatening problems, from illegal drug trafficking to political corruption, from the lack of clean water to inadequate schools for their children, from ethnic and political violence to deadly disease," the Times said.

The poll by The New York Times and the Pew Global Attitudes Project was based on face-to-face interviews in April and May with 8,471 adults in Ethiopia, Ghana, Ivory Coast, Kenya, Mali, Nigeria, Senegal, South Africa, Tanzania and Uganda.

"The survey sampled nationwide adult populations, except in South Africa, where the sample was completely urban, and Ivory Coast, where it was disproportionately urban and tended to be in areas sympathetic to the government," the Times said. The margins of error were plus or minus 3 or 4 percentage points.

Ghanaians and Tanzanians were most satisfied with the way democracy worked in their countries, while Nigerians and Ethiopians were the least satisfied among those surveyed.

Except for Ivory Coast, Tanzania and Uganda, a plurality of those polled said their financial situation had improved in the last five years, the Times said.

Overall gross domestic product growth in Africa last year was 5.7 percent, it said, helped by the rise in the prices of oil, iron ore, copper and timber.

About 25 million of the 40 million people infected with HIV live in sub-Saharan Africa, and a large majority in every country polled saw the spread of AIDS and other infectious diseases as a big problem, the Times said.

But few said they had been tested for HIV -- ranging from 4 percent in Ghana to 27 percent in Kenya and Ethiopia.

About half or more in eight countries said they had been unable to pay for medical care, but a majority in all the 10 countries except Uganda, Kenya and Tanzania said they had enough money to buy food for their family, the paper said.

Getting access to clean drinking water was also seen as a big problem by a majority in all 10 countries, the Times said, as were poor-quality schools.

When it came to politics, "a majority in each country said corrupt political leaders were a big problem," it said.

In Nigeria, Africa's most populous country, two out of three said their presidential election was not conducted fairly.

Eighty-seven percent of Nigerians polled said they were dissatisfied with the way things were going in their country, the paper said.

"Yet Nigerians were the most optimistic of all the nations surveyed -- 69 percent said they expected that children growing up in Nigeria would be better off than people today," it said.

© Reuters 2007. All Rights Reserved.

jjj

kkk

Gabon leads all African states in environmental control policy



APA
2007-07-30

APA-Libreville (Gabon) Gabon leads the African continent in terms of environmental policy, considering the creation in 2000 of 13 national parks or protected areas representing 11 percent (30,000skm) of its 267,667skm territory, a survey published by the American universities of Yale and Columbia revealed Monday.

According to the survey based on the Environmental performance index (IPE), Gabon has 73.2 points out of 100. However, it ranks 46th at world level, far behind the leading threesome – New Zealand, Sweden and Finland.

In Africa, Gabon outperforms Algeria (66.2 ), Morocco (64.1) and Ghana (63.1).

South Africa ranks 6th with its 62 points, then follows before Uganda ( 60.8, 7th), Tunisia (60, 8th), Tanzania (59, 9th), Benin (58.4, 10th), Egypt (57.9, 11th), Cote d’Ivoire (57.5, 12th), Central African Republic (57.3, 13 th) and Rwanda (57, 14th).

Malawi and Namibia are in the middle (56.5). Kenya is 17th (56.4), Zambia 18th (54.4), Cameroon (54.1, 19th), Swaziland (53.9, 20th), Togo (52.9, 21st), The Gambia (53.3, 22 nd ), Senegal (52.1, 23rd), Burundi (51,6, 24th), Liberia (51, 25th), Sierra Leone (49.5, 26th), Congo (49.4, 27th), Guinea-Conakry (49.2, 28th).

These African countries are at the bottom of the list: Madagascar ( 48.5, 29th), DRC (46.3, 30th), Guinea Bissau (46.1, 31st), Mozambique (45.7, 32nd), Nigeria (44.5, 33rd), Sudan (44, 34th), Burkina Faso (43.3, 35th ), Angola (39.3, 36th), Ethiopia (36.7, 37th), Mali (33.9, 38th), Mauritania (39nd), Chad (30.5, 40th) and Niger (25.7, 41st).

The IPE rates the ability of states to face the sustainable development challenges by considering six variables which are: the impact of environment on health, the water resources, the impact of power production on environment, the quality of air, the biodiversity and housing, and the impact of agriculture on environment.

The survey, which took into account 133 countries across the world - including 41 from Africa- was carried out on the basis of countries’ ability to adhere to the environmental ideals such as the hydrogen-free gas emission, the rational forest harvesting, and the control of local pollution.

I was so surprised:uh: :uh: to read that Equatorial Guinea has growing ties with the Phiillipines. The president of the Asian country visited Equatorial Guinea last month. Has she gone to any other African country??? The Filipino community in Equatorial Guinea is already more than 4500 (!!!). Unbelievable!!!! It is worth reading....

Ugh...

So how many Equatorial Guineans can go to the Philipines and make money w/o dealing with the stigma and hardships that many Africans face in Asia?? I hope these immigrants have limited visas, i.e. once construction is completed they go back, because Equatorial Guinea is for Guineans as EVERY SINGLE ASIAN COUNTRY IS FOR ASIANS as their people and government make it known to every single African that they are foriegeners!

ANd notice that SHE went to Africa, not the other way around, which tells us that she came to THEM, and that they need them more than EG needs Manila! They just need the oil to fuel their growing economy! And I hope that EG isnt shortchanged like what happened with the big oil companies in the past, because as I said before Manila needs them!

So how many Equatorial Guineans can go to the Philipines and make money w/o dealing with the stigma and hardships that many Africans face in Asia?? I hope these immigrants have limited visas, i.e. once construction is completed they go back (...) ANd notice that SHE went to Africa, not the other way around, which tells us that she came to THEM, and that they need them more than EG needs Manila! They just need the oil to fuel their growing economy! And I hope that EG isnt shortchanged like what happened with the big oil companies in the past, because as I said before Manila needs them!

Are you from EG? This would explain your aggressive attitude and hostility towards foreigners. EG treats foreigners - especially those from other african countries very badly - by sending homes thousands each year even those with a legal status. Moreover, where are Africans treated badly in Asia, please??? What are you talking about?? . Of course, EG should be for its own people first but I don´t see any problem when Manila has the qualified labour force that EG seems to lack at its current stage of development. Today´s world is GLOBALIZED and nations should learn from each other with respect and a "cautious" sense of openness, what you want is goin´back to the Middle Ages, everyone brews its own soup!

Dantexavier, just a question: Since when is South America the Western Hemisphere??? Do Peru, Bolivia or Ecuador belong two the Western Hemisphere?? "indígenas" make up almost 95% of those Andean countries. Someone from South America belongs to the Southern Hemisphere, nno matter if more than 90% of Argentinians are of European origin, they no longer regard themselves as Spanish or Italians or germans.

I'm just looking at it from an east west perspective-that means that there are only two categories, East and West.

http://en.wikipedia.org/wiki/Western_Hemisphere

South America is a part of the western hemisphere.

Great news for Uganda's infrastructure

Uganda: Kampala Water Ok, Says World Health Organization

Samples of water taken on Friday around Kampala showed that the quality conformed to the drinking water guidelines of the World Health Organisation (WHO), a statement signed by the National Water and Sewerage Corporation, the Ministry of Health, the Kampala City Council and WHO said.

"There was no indication of faecal contamination. In all the divisions, including Kawempe, turbidity was less than 2 NTU, faecal coliforms count was zero and free residual chlorine ranged from 0.2 to 0.8 mg per liter, all of which conformed to the WHO guidelines as well as the national standards for drinking water," the statement said.

A report by KCC health inspector David Ssemwanga, a copy of which was obtained by The New Vision, had indicated that the turbidity levels of samples taken in Kawempe division between July 27 and 30 ranged between 75 and 200 NTU, far above the accepted level of less than 5 NTU. It also showed the presence of faecal coliforms in samples taken from Bwaise II, Mulago II and Kyebando parishes on July 30.

"We have looked at the KCC results and we suspect that there could have been human error in the reading of the results," the press release said. "The piped water in the NWSC system in Kampala is safe for human consumption."

KCC health inspector Ssemwanga was yesterday not available for a comment. The green and brownish colour of the water had raised concern among the public, prompting Parliament to summon water officials over the matter last Tuesday.

The quality of the city's drinking water is under intense scrutiny ahead of the Commonwealth Heads of Government meeting in November, where over 50 heads of state are expected.



http://allafrica.com/stories/200708060030.html

Are you from EG?
No

This would explain your aggressive attitude and hostility towards foreigners. EG treats foreigners - especially those from other african countries very badly - by sending homes thousands each year even those with a legal status. !
Well that's not as bad as throwing Africans, specifically Nigerians in jail w/o representation from their consulates or being racial profiled for alleged drug trafficing! I bet if something goes down in EG the Filipino consulate will be swift to act!

Moreover, where are Africans treated badly in Asia, please??? What are you talking about??!
Are you freakin crazy?!?! Have you even heard of the stereotypes about Africans (specifically Nigerians) when they go to Asia? What about the Nanjing riots? There is nothing but fear and maybe even misunderstanding for Africans in Asia! But when Asians come to Africa, they are treated as saviors! I percieved this opinion by reading the articles (and your posts) about how people in almost every BLack-African nation have a good opinion on Chinese involvment in Africa (which is understandable). But when I research I see mostly negatives :
http://magazine.biafranigeriaworld.com/osita_chiagorom/2005/10/07/nigerians_living_in_fear_in_china.php
http://www.pubmedcentral.nih.gov/articlerender.fcgi?artid=1122639
http://nigeriaworld.com/feature/publication/pastor-daniel/042606.html
SHeesh, after reading that last one, I decided I won't post anymore of those depressing articles....
And yes they are a bit old, but tell me Mathias, have things improved or what???
OF course, EG should be for its own people first but I don´t see any problem when Manila has the qualified labour force that EG seems to lack at its current stage of development. Today´s world is GLOBALIZED and nations should learn from each other with respect and a "cautious" sense of openness, what you want is goin´back to the Middle Ages, everyone brews its own soup!

Uh, no I just hope that Africans have the same respect/opportunities that Asians have in Africa.
(BTW check out some firsthand experiences in Afroshanghai.com)

I dont think Asians treat blacks particularly badly. A lot of the prejudice I have faced in Asia was because of the large amounts of Nigerian hustlers who are involved in all manner of criminal activities. To be fair to the police there, every Nigerian I have met in Asia is not there just for a 'business holiday'. I have been refused entry into bars, clubs and even an internet cafe (in Cambodia, just a few weeks ago) because they assumed I was Nigerian. Upon realising that I was 'British', I was treated like everyone else.

Uh, no I just hope that Africans have the same respect/opportunities that Asians have in Africa.
(BTW check out some firsthand experiences in Afroshanghai.com)

I will do it, thaks for replying me with links attached!

I dont think Asians treat blacks particularly badly. A lot of the prejudice I have faced in Asia was because of the large amounts of Nigerian hustlers who are involved in all manner of criminal activities. To be fair to the police there, every Nigerian I have met in Asia is not there just for a 'business holiday'. I have been refused entry into bars, clubs and even an internet cafe (in Cambodia, just a few weeks ago) because they assumed I was Nigerian. Upon realising that I was 'British', I was treated like everyone else.

See there, this is what I'm talking about!:ohno: :ohno:
Nigerians are all supposed to be drug-runners and trafficers! What about the hard-working Nigerians who do come to Asia to make a better living? I guess in their minds if one does it, than everyone is accounted for...:ohno:

See how they are being stereotyped Matthias? I dont know if you're Igbo or Yoroba but, according to one article, the Igbos seem to get it worst. I dont hear ANY asians being discriminated in social esblishments in Nairobi or Abuja! It is only Africans that are being discriminated against!:ohno:

I will do it, thaks for replying me with links attached!

No problem but you would have to consider that Nigerians seem to get the worst with their notorious scams and allegded drug-trafficing. Also there's Afrobeijing.com and www.Blacktokyo.com (my favorite, and most positive. In Japan, Africans seem to be treated better, than in communist China)!

I doubt that has anything to do with communism

The economic scramble for Africa

An economic revolution driven by booming global demand for commodities means Africa is no longer a no-go area for foreign businesses. As a result, countries such as Nigeria are attracting interest. By Rob Griffin


09 August 2007

For many years, large parts of Africa have been virtual no-go areas for foreign businesses with poor corporate governance, unreliable economies and political unrest deterring all but the most committed investors.

This is no longer the case. An economic revolution driven by the booming global demand for commodities over the past few years means the corporate world can no longer afford to ignore fast developing nations such as Nigeria, Botswana and Ghana.

Soaring stock markets, stable economies and decent levels of overseas investment have certainly improved the fortunes of many countries, which have been able to use part of their new-found wealth to fund internal consumer booms of their own.

Perceptions of sub-Saharan Africa have certainly shifted, says Innes Meek, director of CDC Group, a government-owned fund of funds investor which has around £2bn worth of assets in the world's poorest countries.

"South Africa has always been a magnet for business but other economies are now attracting interest," he says. "Nigeria, for example, has a substantial economy, backed by oil, and a large population which provides opportunities for businesses to grow."

According to Bryan Collings, managing director of Hexam Capital Partners, there are a number of reasons behind the turnaround in fortunes.

"A lot of politically stable countries endowed with resources such as oil and commodities have succeeded in strengthening their reserves, stabilising interest rates and providing a much better environment in which to operate," he says. "They have also benefited from the development of capital markets in the region."

Plenty of investment cash looking for a home has also been a driver. Not only has there been an abundance of private equity cash around, but prudent businesses that were cautious during the stock market downturn now have cash to invest.

"We've had greater liquidity over the past five years, as well as cheaper money and a reduction in risk aversion," says Mr Collings. "This means money has found its way into new markets and Africa has definitely been a beneficiary of these moves."

In addition, the fast developing sub-Saharan nations are looking attractive on a relative basis. "Fifteen years ago, places like Brazil and Mexico were still developing so money was being allocated to those markets rather than Africa," he adds. "As these places, as well as the likes of Poland and Hungary, have started maturing and have seen the levels of competition increase, so investors have started to look elsewhere."

This upbeat assessment is reflected in the performance of the sub-Saharan stock markets, which outperformed the likes of South Africa during the first six months of this year.

Sub-Saharan Africa - excluding South Africa - rose by an impressive 38.2 per cent and were not affected by either the March correction, which hit a number of rival emerging markets, or the Nigerian presidential elections a month later. This compares with a relatively modest 10.2 per cent rise for the MSCI Far East index and a fall of 5.5 per cent in the MSCI Eastern Europe.

There is certainly the potential to enjoy rich rewards from investing in Africa, adds Mr Meek at CDC. The combination of rapid development potential and the vast populations means that well-run companies can deliver fantastic returns.

"If you can score a hit in Africa, it can turn out to be a good one," he says. "We were early investors into Celtel [the pan-African telephone business] and that turned out to be a terrific investment as we made five times our money."

But that's not to say that sub-Saharan Africa is a panacea, points out James Thomson, manager of the Rathbone Global Opportunities Fund. There are still plenty of reasons why businesses and investors should approach these countries with extreme caution. "I am wary of investing in Africa for a number of reasons," he explains. "These include the lack of transparency in some countries, questions over financial stability and whether there is a level playing field for all investors."

Another serious concern is the continent's power supply problems. It is estimated that more than half of sub-Saharan nations are now facing crippling electricity shortages with blackouts becoming increasingly common."In many ways Africa is a victim of its own success as the higher-than-expected GDP growth has put a huge strain on the electricity supply, which is causing problems as there hasn't been any major investment in the industry for 15-20 years," Mr Thomson adds. "On the positive side, however, you can make money by investing in companies that are building power-producing capacity in the region."

The pace of development of African stock markets has not been as quick as many would have needed to take advantage of the capital available, which is why so many companies have opted to list abroad, such as on the London Stock Exchange.

There are other problems too. Bureaucracy can still be a hurdle for many businesses, while there is still a desperate need for better managed organisations of all kinds, in both the public and private sectors.

However, progress is being made, insists Professor John Mullins of the London Business School. Economic aid from around the world is now being partly channelled into helping young, growing African companies, which is helping to create jobs and bring prosperity to many countries.

"There have been concerns about where aid money has gone in the past but in this way agencies know it will go into real companies that can provide jobs," says Professor Mullins.

There is also a concerted effort to help train the business leaders of tomorrow.

So where do the sub-Saharan nations stand today? Tremendous progress has been made over the past few years, but some countries still have a long way to go, says Mr Meek at CDC.

"The emerging markets are generally doing better than they have done in previous cycles but there's clearly still huge scope for development," he says. "The trend is definitely positive as the likes of Ghana and Nigeria are far better run today. We're still not sure where on the economic curve Africa lies at the moment. People were still worried about investing in Asia five years ago and I would suspect that Africa is about five years behind that story, but it's heading in the right direction."

Jewels in sub-Saharan Africa's crown

Nigeria has probably developed the most in terms of its political and economic structures, according to Bryan Collings, managing director of Hexam Capital Partners, and is now reaping the rewards.

"There have also been improvements in the Congo and places like Mozambique, while Ghana has also been pretty stable," he says. "Central Africa is looking a lot better, although there are still political issues if you go too far east or west."

Botswana, however, remains a favoured hunting ground for James Thomson, manager of the Rathbone Global Opportunities Fund. "It is by far the safest of the countries, both politically and economically," he says. The sub-Saharan region countries have a combined population of 750 million and annual GDP growth of 6.7 per cent. Inflation, meanwhile, is running at about 7.1 per cent.

Nigeria is expected to enjoy GDP growth of an impressive 8.2 per cent this year, according to figures produced by the International Monetary Fund for its World Economic Outlook, up from 5.3 per cent last year.

In recent months, there have been signs that the internal domestic demand of Nigeria is beginning to grow, with the country's stock market rising by 56 per cent between January and the back end of July.

Even the results of the recent presidential elections in April have largely been accepted with the markets having by about 19 per cent since that time.

http://news.independent.co.uk/business/analysis_and_features/article2846539.ece

More oil has been found in Gabon onshore!


Maurel & Prom : Results of Onal-703 Development Well in Gabon 1,870 Bopd Eruptive

GABON, August 8 /2007/ -- Maurel & Prom announces that
the ONAL-703 development well was tested with an oil eruptive rate of 1,550
bopd in the Upper interval and 320 bopd in the Lower interval of the "Gres
de base".
Onal-703 is the fourth well of the 2007 Onal development drilling
program. The first three wells reached their objectives at the predicted
depths and were not tested according to the work program. These wells will be completed in 2008 before first oil.
These results are the best to date on the field and demonstrate for the
first time the productivity of the Lower interval.
The Upper interval could not be tested with the pump, as the eruptive
rate greatly exceeded the capacity of the equipment.
The maximum productivity of Onal-703 will be determined from the
interpretation of the test data and confirmed in 2008 after first oil.
The rig is now being moved to the Onal-601 platform to continue the
drilling program.
Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA Coming next: Thursday August 9, 2007 - 2007 Half Year Revenues.




Baraka Petroleum Awards Mali Seismic Contract
Baraka Petroleum Limited Friday, August 03, 2007


Baraka Petroleum confirms that the contract to acquire 6000 line km of regional 2D seismic in its five PSA blocks within the Taoudeni Basin region of Mali has been awarded to E.NA.GEO ( Entreprise Nationale de Géophysique) the Algerian national seismic company. The ~US$35M program is expected to commence in October 2007.

The joint venture has outlined an initial regional survey of approximately 4200 line km, which will be supplemented with an additional 1800 km of infill seismic lines for definition of future drilling prospects.

http://www.rigzone.com/images/news/library/maps/3/4158.jpg
Taoudeni Basin, Mauritania

The seismic survey is the third stage of an ongoing works program within Baraka’s five Taoudeni Basin blocks, numbered 1,2,3,4 and 9 covering 193,200-square km extending east from the border with Mauritania. The seismic survey together with the results of the previously completed magnetic, radiometric and gravity surveys will assist the company and its joint venture partners to better define the basin structures in these blocks.

Baraka’s CEO Dr. Mark Fenton said: "This regional seismic survey will be essential in developing the necessary regional understanding to plan infill seismic followed by the selection of drilling locations. The five blocks within Mali are adjacent to Baraka’s two blocks in Mauritania where the Company has recently commenced a large airborne magnetic and gravity survey in joint venture with Woodside Petroleum Limited. With Baraka involved in both survey areas, the Company will have the most complete data coverage of any company operating within the highly prospective Taoudeni Basin. The size of the investment in the Mali seismic survey underlines the Joint Venture’s view of the prospectivity of this region and is a huge vote of confidence in the future of the Malian oil industry."

In November 2006, Baraka farmed out a 50% interest and operatorship of these blocks to Eni S.P.A. and a 25% interest to Sonatrach International Petroleum Exploration and Production B.V.I (SIPEX). It is carried for a substantial portion of the seismic program expenditure.

Joint Venture Interests in each block are Baraka Petroleum Limited with 18.75%; Eni Mali B.V. with 50.00%; SIPEX with 25.00% and Baraka Mali Ventures Limited with 6.25% (not related to BKP).

No problem but you would have to consider that Nigerians seem to get the worst with their notorious scams and allegded drug-trafficing. Also there's Afrobeijing.com and www.Blacktokyo.com (my favorite, and most positive. In Japan, Africans seem to be treated better, than in communist China)!

LOL! You do know that Japan's society is the most homogenous and xenophobic in Asia right? Brazilians of Japanese descent get discriminated their, you think black africans whom they view as inferior don't get discriminated against? Japanese racism is subtle, but theirs more behind the bows and politness. Don't get me wrong though, I love the Japanese, their inovation and hard work ethic.

LOL! You do know that Japan's society is the most homogenous and xenophobic in Asia right? Brazilians of Japanese descent get discriminated their, you think black africans whom they view as inferior don't get discriminated against? Japanese racism is subtle, but theirs more behind the bows and politness. Don't get me wrong though, I love the Japanese, their inovation and hard work ethic.

LMAO, I did NOT say they arent being discriminated against, but based on my readings on that particular website, and the articles I've read, Blacks are more "successful" in Japan than in China! Based on the fact that there are in commercials, sports (Bob Sapp, Oligun, etc), and finding their own businesses particularly in the Kabukicho and Roppongi districts. I'm not saying they are well liked, but hey, the vibe is more positive over their than in China.

I doubt that has anything to do with communism

But China is NOT a free country, and the government controls/regulate what the Chinese see on the media. SO therefore if all Chinese see are kids with swollen bellies and flies on their face, then they will have that perception on the average African. IF they see that they all live in mud-huts running around butt-naked in the savanna, then they would have a very low opinion on Africans. I dont know this is what they only show, I've never been there, but if the they want to be more progressive on the African continent and invest, I think they would have to show a more positive side.

Botswana: Highways Coming

Minister of Works and Transport, Lesego Motsumi has hatched plans to develop the Gaborone-Molepolole road into a six-lane carriageway.

Motsumi revealed the good news at the official opening of the Nelson Mandela highway drive that, the six-lane carriageway, shall start from the Western-by-pass near Molapo Crossing shopping center and end at Mogoditshane circle.


"The design for the Gaborone to Molepolole road has been completed. Service roads along both sides of the road will be provided in the Mogoditshane area. Mogoditshane Circle will be improved to a signalised intersection. The remaining portion of the road between Mogoditshane Circle and Metsimotlhabe will be improved into a four-lane dual carriageway. The Construction phase on this project is expected to start around March 2008," the minister said.

Motsumi revealed plans to improve the rest of the high way carriage networks. She said there are plans to improve the Gaborone to Tlokweng, the Western by-pass and the Metsimotlhabe road, Mogoditshane to Gabane and Kanye and the Gaborone to Boatle and Lobatse roads.

"The first project is the Gaborone to Tlokweng border post road of which construction shall commence later in the year, when all the issues related to the relocation of services and compensation for affected property has been finalised by the Ministry with the assistance of other stakeholders," revealed the minister.

She explained that section one of the project, from the Tlokweng border post to the common point with the Tlokweng by-pass, east of Tlokweng village, will be reconstructed to a single carriageway, with provisions for a dual carriageway. Section two of the road, according to Motsumi, would continue from the common point with the Tlokweng by-pass, where the road will be improved into a dual carriageway, until it reaches the Polytechnic Circle in Gaborone.

"This includes an additional bridge across Notwane River, near River Walk and the improvement of the Polytechnic Circle to a signalised intersection. The Tlokweng by-pass will be designed to run from the common point on the Tlokweng Road to Kgale Circle with provisions for a dual carriageway and a Road Bridge over the Railway line at Old Naledi," she explained.

The minister said section three would be from the Polytechnic Circle along Machel Drive to the intersection with old Lobatse Road and Kudumatse Drive. This portion, she said, would be upgraded to a dual carriageway, including improvements on Mobutu Drive to Jawara road.

The third project, forming part of the Ministry's plans to improve the public highway network in Gaborone, includes the Gaborone-Boatle-Lobatse road, currently at design stage.

Over the years, she said, traffic levels between Gaborone and Boatle and in and around Lobatse have grown considerably. "This necessitates the dualling of the entire network, starting at Kgale circle in Gaborone all the way to a roundabout next to the Department of Geological Survey in Lobatse.This road will proceed to the Pioneer Gate border post and the Lobatse-Kanye-Ramatlabama junction on the A1 highway."

During NDP 10, the signalised intersection near Molapo Crossing will be converted to a grade-separated interchange with improvements on the Gaborone - Molepolole Road. It would be improved to a six-lane dual carriageway from the Western bypass to Nelson Mandela Drive, near the Ministry of Health, Motsumi said.

http://allafrica.com/stories/200708070864.html

Nigeria: Per Capita Income Rises to $1,036.2

Vanguard (Lagos)

10 August 2007

Nigeria's per capita income now stands at $1,036.2 against the $847.4 recorded for 2005, the Central bank of Nigeria (CBN) has reported. The 2006 Annaual Report of the bank, said that the economy recorded an estimated 5.6 per cent growth rate, down from 6.5 per cent in 2005.

"The economic expansion was commendable as it was broad-based, in spite of the several challenges which included the slow down in the oil sector and the energy crisis that militated against growth in the economy," it reported.


The CBN said that a review of macroeconomic developments showed that the Nigerian economy continued on an expansion path in 2006, albeit, at a slower rate, demonstrating the sustained resilience. It said that the conduct of monetary policy in 2006 was aimed at containing the surging domestic demand in order to achieve price stability, promote an efficient money market and ensure non-inflationary growth.

"Therefore, the tightening of monetary policy was sustained while the build up of excess liquidity in the money market was contained through mopping up of excess liquidity on a daily basis by the use of Open Market Operation (OMO). "In addition, the various initiatives that were introduced to improve the efficiency of the Bank and the financial sector progressed further during 2006 in consonance with global developments and to cater for the peculiar needs of the economy," the bank said

http://allafrica.com/stories/200708100327.html

Southern Africa: Regional Economic Outlook Good, Says Salomao

The Times of Zambia (Ndola)

10 August 2007

Astean Chongo
Ndola

SOUTHERN African Development Community (SADC) executive secretary, Tomaz Salomao has said that the region's economies are well-positioned to attain higher growth levels in the coming years.

Dr Salomao said performance by SADC economies had improved in the immediate past period while the outlook was also good.

He said on average, SADC economic performance had improved in terms of growth in output and per capita income in 2006 as compared to 2005, and economic growth outlook for the region was projected to be at approximately seven per cent in 2007.

Speaking at Mulungushi International Conference Centre during a media briefing session, Dr Salomao said a country by country analysis of growth trends showed that during 2005-2006, seven member states achieved growth rates of five per cent or higher, whilst only four grew by less than three per cent.

The other three member countries grew by less than five per cent, but more than three per cent. On average, the region recorded per capita income growth rate of 4.1 per cent in 2006, which was a better growth performance than the sub-Saharan African average of 3.4 per cent during the same period.

Dr Salomao said the annual inflation rates for SADC member states were generally moving in the right direction even though it is still higher than the sub-Saharan African average of 13.0 per cent for 2007 and also remains higher than the SADC macro-economic target of achieving single digit inflation by 2008.

In addition, SADC as a region moved from a period of current account deficit to current account surpluses, but only Botswana, Mauritius and South Africa have achieved current account surpluses for most of the period up to 2006.

Dr Salomao said the food security situation for the region had generally been satisfactory for the period 2006-2007 owing to the good harvests experienced in most member countries.

He said preliminary Forecast of Regional Food Security and vulnerability situation for 2007/08 indicated a regional cereal deficit of 4.35 million tonnes compared to 3.50 million tonnes in 2006/07.

South Africa, which normally produces about half of the region's maize, is expected to produce about 7.17 million tonnes. This is below its 10 year average of 9.27 million tonnes. The reduction is due to almost 50 per cent drop in yields caused by drought.

The SADC executive secretary, however, said despite the expected low overall production in the region, Malawi, Tanzania and Zambia were expected to have surplus maize, which could be exported to other member states.

He said SADC attached importance to food security because it was the first line of defence for any country and that as SADC, the region could not continue to beg for food from outside.

http://allafrica.com/stories/200708100327.html

But China is NOT a free country, and the government controls/regulate what the Chinese see on the media. SO therefore if all Chinese see are kids with swollen bellies and flies on their face, then they will have that perception on the average African. IF they see that they all live in mud-huts running around butt-naked in the savanna, then they would have a very low opinion on Africans. I dont know this is what they only show, I've never been there, but if the they want to be more progressive on the African continent and invest, I think they would have to show a more positive side.

Well the europeans never cared about that and they have scarred us for a long time to come. I dont believe this is a asian view of africa, its a universal view. unfortunatly.
Whoever we deal with we must demand mutual respect.

I feel so much for Africa. I have never admired Asians that much, well, the fact that they don't see Africans as nothing to deserve any respect or for whatsoever proves that the white is still more understanding and more intelligent.I guess,it's time Africans start to let the world know they are human with equal brain like the white man. I don't beleive in the Bell Curve cos they were blacks in my class who were far intelligent than I. Judging by Intelligence Quotient from the Bell Graph which was technical and academic the emotional intelligent quotient was lacking even for other subsequences.

However, I beleive black people have the potential to be equally intelligent like every other race. What do you think of Arabs who are caucasians and encountered civilisation for long yet almost reasonably like blacks? This Bell Curve must have boilt down to racism!

As for me, I can't discriminate anybody on race, intelligence, religion rather going against what I stand for.

I think, Africans should co-operate with the Chinese and also let them know that Africans deserve respect. The ball is largely in the Africans court.


Use your head Africans. It's your greatest power!

I beleive black people have the potential to be equally intelligent like every other race

LOOL Thanks.. I guess.
"Have the potential to be equally intelligent"

I think that must be the most insulting compliment I ever heard.
But I guess you meant well.

Sim, It's not an insulting compliment to the blacks. I beleive that you're using your eyes more than your head. What I meant by using the word potential was 'possible'-- more like every human has the inherent to acheivements.

If that word meant to insult you take a look at the Bell Curve maybe that would do you good.

Take care, Sim.

Well intelligence is the ability to gather new information and process it.

Intelligence is not measured by achievements, and achievements are not determined by intelligence alone, hence the different economic positioning of different races.

If a middle class man from Britain was tasked to design a new Logo for a company, and a man of the same age from Africa, was tasked to design a logo for the same company. Provided the two men had similar educational and socio backgrounds the results should be indifferent. And they would be indifferent. Africans are just as capable as any other race, the level of achievement, varies simply because of events like wars, poor governing etc.

Black People and White People are indifferent, when it comes to intellect, but are very much different when it comes to ideologies. The Unification of Europe due to smaller Empires merging to become one, and the non conservative stance of Europeans enabled them to accumulate the strength necessary to overrun an entire continent. In this case; Africa.

The African continent, is the most diverse continent on earth, and due to this it would require a larger period of time, for many tribes and peoples to merge. A natural unification. One triggered by Wars etc. Europe achieved this feet. They fought themselves to unification. This ensured power and peace. Africa was reaching this point, when the Europeans arrived on African shores.

Many Protectorates were formed. These Protectorates were not formed decisively but conveniently. The Results were disastrous.

Case Study.

Nigeria: Nigeria was formed after the Unification of the Southern and Northern Protectorates. This was done, so that Britain could more easily Govern the Two Protectorates. Yes Nigeria was unified on paper, but Nigeria was certainly not unified in spirit. Most of the violence in Nigeria, is due to this.

If this had not been done, the vast majority of Religious and Ethnic Violence would not have occurred in Nigeria. These occurrences hindered Nigerians chances of becoming successful. These occurences amounted to instability. This is still the case in most African countries. I.e Sudan. (Darfur)

Where there wasn't diversity, diversity was created. Zimbabwe and South Africa were destabilized. Sure South Africa today is arguably Africa's most successful country, but one must take into account the decades that Apartheid was present in the country. All the injustices and deaths etc.

Yes Africa is today the dark continent, but like I said earlier Achievements are not determined by intelligence alone, but by many other factors.

del

Another huge oil well found

Source:New vision
Thursday, 23rd August, 2007
By Emmy Olaki

Uganda can now produce more than 30,000 barrels of oil per day following the discovery of more oil by the Irish company, Tullow Oil.

Tullow yesterday announced that the oil was found in three zones of the Mputa-3 well in Block 2 in Hoima district, showing a combined flow rate of over 4,000 barrels per day. This brings to 17,000 the total flow rate from all the wells on this block.

Another block, Block 3A, which Tullow shares with Heritage Oil and Gas, has a flow rate of almost 14,000 barrels per day.

“Tullow Oil announces the successful drilling and testing of the Mputa-3 appraisal well in Uganda’s Block 2,” according to a press release, issued by Aidan Heavey, the chief executive of Tullow Oil in Ireland.

“The well was drilled to a total depth of 973m and encountered hydrocarbons in three separate zones. Pressure and sampling data indicate that all three zones could flow at a combined rate in excess of 4,000 barrels of oil per day.”

The company said it had encountered producible hydrocarbons in all seven wells it had drilled. But Mputa-3, it added, had surpassed their projections. “The Mputa-3 well has exceeded our pre-drill expectations in terms of sand development and production performance.”

According to Heavey, the appraisal programme was on schedule and the company would now move its equipment to Mputa-4.

Asked for a reaction, the Ugandan Government said the new find could turn the Lake Albert region into a true oil province.

“This well shows that the potential of the Albertine Graben is unraveling,” Reuben Kashambuzi, the commissioner for petroleum exploration and production, told The New Vision.

“It is a discovery in succession, which means that this could turn out to be a significant petroleum province. It is something to watch.”

He said Mputa now had the potential to support the early production scheme, expected to start in 2009. Drilling of more wells, such as Mputa-4, would help boost reserves, he added.

Tullow Oil became 100% owner and operator of Block 2 after buying out its joint venture partner, Hardman Resources. It is also a 50% partner with Canadian-based Heritage Oil and Gas, which discovered oil in the Kingfisher well in Block 3A.

The Irish company also has licences in the Democratic Republic of Congo.

Another oil and gas find for Equatorial Guinea





Noble Sees Success on its Belinda Appraisal


Noble Energy, Inc Thursday, August 23, 2007


Noble Energy announced initial results from its Belinda appraisal well on Block "O" offshore Equatorial Guinea. The O-3 appraisal well, located in 1,740 feet of water and approximately 4.2 miles southwest of the original Belinda discovery (O-1), was drilled to a total depth of 9,500 feet.

The O-3 well successfully extended the Belinda discovery by establishing significant downdip resources. Reservoir quality at the O-3 location was even better than was encountered at the O-1 discovery location while maintaining reservoir thickness. Reservoir quality and content has been confirmed with test results showing condensate-rich natural gas producing at maximum flow rates of 30.4 million cubic feet per day of natural gas and 1,540 barrels per day of condensate, or approximately 6,607 barrels of oil equivalent per day (based upon a natural gas to crude oil conversion ratio of 6 to 1). Maximum flow rates from the original Belinda discovery were 24 million cubic feet per day of natural gas and 1,225 barrels per day of condensate, or approximately 5,225 barrels of oil equivalent per day. Production rates for both the original discovery and the appraisal were limited by test facilities. With the installation of cooling and processing facilities, condensate yields can be increased.

Noble Energy is the technical operator of Block "O" with a 45 percent participating interest. Its partners on the block include GEPetrol, the national oil company of the Republic of Equatorial Guinea, with a 30 percent participating interest and Glencore Exploration Ltd. with a 25 percent participating interest.

The Songa Saturn drillship will next move back to Block "I" where it will drill a Benita appraisal well located approximately 2 miles from the I-1 discovery well announced earlier this year.

Charles D. Davidson, Noble Energy's Chairman, President and CEO, said, "The success of our Belinda appraisal well exceeded our expectations and is significant from several perspectives. It infers lateral continuity and quality of the reservoir, confirms significant resources downdip of the original discovery well, and it provides another calibration point for seismic attributes. We remain extremely encouraged with the results of our current drilling program in West Africa with this latest well being the third successful well out of a total of four drilled so far."

Equatorial Guinea enters the age of LNG!


Marathon, Partners Make Early LNG Delivery from Bioko Island


Thursday, May 24, 2007


Marathon Oil Corp. and its partners on Thursday announced the delivery of the first cargo of liquefied natural gas (LNG) from their Train 1 LNG project on Bioko Island, Equatorial Guinea. The $1.5 billion project was completed on-budget and six months ahead of the original schedule of late 2007.

"Today marks a significant achievement for Marathon, the Government of Equatorial Guinea and other Equatorial Guinea LNG Holdings Limited (EG LNG Co) shareholders," said Clarence P. Cazalot, Jr., Marathon president and CEO. "This project will produce clean, abundant energy for world markets, as well as positive economic benefits for the people of Equatorial Guinea for decades to come. The record-setting pace of this project from inception to first delivery of LNG and the outstanding safety record we achieved during construction are the result of a shared vision and spirit of partnership amongst the shareholders. We look forward to our continued collaboration as we explore the possibility of expanding to multiple LNG trains in the future."

The first LNG cargo was delivered to the 138,000 cubic meter LNG tanker Gracilis under the terms of an agreement with BG Gas Marketing LTD (BG) to supply 3.4 million metric tons per annum (mmtpa) to BG for 17 years. This first cargo is initially destined for Lake Charles, La.; however, BG holds destination flexibility in determining where its cargos will be delivered.

"The Government of Equatorial Guinea and Sonagas join our other EG LNG Co partners in celebrating the completion and start-up of the EG LNG project," said H. E. Atanasio Ela Ntugu Nsa, Equatorial Guinea Minister of Mines, Industry and Energy. "This development is symbolic of our country's efforts to fully develop our natural resources and to create social and economic benefits for all Equatoguineans. We look forward to working with our EG LNG Co partners as we explore ways to expand these operations and continue the economic development of Equatorial Guinea."

The LNG plant is located on the northwest side of Bioko Island at Punta Europa, near Equatorial Guinea's capital city of Malabo. Approximately three trillion gross cubic feet of dry gas from the Marathon-operated Alba Field offshore Equatorial Guinea will be processed through the LNG plant.

Marathon and the other EG LNG Co shareholders commenced preliminary construction of the Train 1 project in December 2003, and completed the project ahead of schedule with an outstanding safety performance of more than eight million man hours worked without a lost time incident. Bechtel was the primary engineering, procurement and construction contractor.

The Equatorial Guinea LNG plant utilizes the ConocoPhillips Optimized Cascade(SM) Process. While the contracted offtake rate is 3.4 mmtpa and the offtake term is 17 years, the plant has a nameplate capacity of 3.7 mmtpa and an expected life of significantly longer than the contract period. Key plant facilities include: refrigeration systems, compressors, condensers, two LNG storage tanks and marine facilities that allow for the berthing, mooring and loading of LNG ships ranging in size from 90,000 to 160,000 cubic meters of both membrane and spherical design.

The shareholders in EG LNG Co are Marathon, which holds a 60 percent interest; Sonagas, the National Gas Company of Equatorial Guinea, with a 25 percent interest; as well as Mitsui & Co., Ltd. and Marubeni Gas Development Co., Ltd. which hold the remaining 8.5 percent and 6.5 percent interests, respectively.

During 2006, Marathon and the other EG LNG Co shareholders awarded a front end engineering and design (FEED) contract for initial work related to a potential second LNG train on Bioko Island. The scope of the FEED work for the potential 4.4 mmtpa Train 2 LNG project included feed gas conditioning, liquefaction, refrigeration, ethylene storage, boil off gas compression, product transfer to storage and LNG product metering. The FEED work was recently completed and a final investment decision is expected in 2008.

Very good news:cheers: :cheers:

Gabon : Nouveau départ pour le cacao et le café gabonais

La campagne de sensibilisation du directeur général de la CAISTAB pour une redynamisation de la culture du café et du cacao semble donner des fruits.
© D.R


Des signes d’espoir quant la résurrection de la culture du cacao et du café ont été enregistré à l’occasion de la foire de l’indépendance organisée pour le 47e anniversaire de l’accession du Gabon à la souveraineté internationale.

La campagne de sensibilisation du directeur général de la Caisse de stabilisation et de péréquation (CAISTAB) semble avoir trouvé un écho auprès des planteurs de ces deux cultures. Elle a amené les planteurs à prendre conscience de la nécessité de relancer ces activités qui autrefois leurs permettaient de gagner leur vie.

Grâce à cette opération de sensibilisation la production du cacao retrouve peu à peu son rythme antérieur. Notamment dans les provinces du Woleu-Ntem, de l’Ogooué-Ivindo, de l’Ogooué-Lolo et de la Ngounié. De même la production du café a été significative dans les provinces de l’Ogooué-Lolo et du Haut-Ogooué.

Les planteurs disposent en ce moment d’exploitations de grandes envergures devant permettre au Gabon de retrouver sa production d’autrefois. Ils bénéficient aussi de nombreux avantages au regard des opérations d’achat-vente qui se font désormais dans les meilleures conditions.

Ces planteurs devraient bénéficier d’autre part, dans les jours à venir, du soutien massif de l’Etat qui entend prendre en compte certaines de leurs charges de production notamment au niveau de la transformation du cacao, afin d’atteindre l’objectif 100% chocolat gabonais.

Publié le : 27/08/2007
Source : gaboneco.com
Auteur : Gaboneco

African free-for-all?
Aug 30th 2007
From the Economist Intelligence Unit ViewsWire

Attractive investment destinations remain repressive

Resource-rich countries attract more investment, but are more likely to be politically repressed, and thus unstable.

Over the past 30 years levels of political freedom in Sub-Saharan Africa have increased substantially. In 1977 no less than 23 Sub-Saharan states—57% of the total—were deemed to be "not free", while 16 (36%) were "partly free" and just three were free. Now, according to the annual classifications undertaken by US-based think-tank Freedom House, 11 states are free and 22 partly free, while 15 remain not free. Freedom House defines a free country as one where “there is broad scope for open political competition, a climate of respect for civil liberties, significant independent civic life and independent media”. A partly free state is one in which there is “limited respect for political rights and civil liberties”. Such partly free states frequently suffer from endemic corruption, weak rule of law and ethnic or religious strife; equally, they often feature a single political party “that enjoys dominance despite a façade of limited pluralism”. In un-free countries basic political rights do not exist while basic civil liberties are “systematically denied”.

Freedom House's classifications raise some questions, however. Its list of free states includes three Southern African countries—Botswana, Namibia and South Africa—where one political party has long been dominant and where there are few signs of any erosion of the political monopoly. Similar comments apply to partly free states like Nigeria, Mozambique, Ethiopia, Tanzania and Uganda.

More setbacks than gains in 2006
Freedom House says that after several years of steady (and, in a few cases, impressive) advances for democracy, the region suffered “more setbacks than gains" during 2006. Congo (Brazzaville) slipped from partly free to not free status, mainly because of a deterioration in government transparency and openness, while there were partial reversals of earlier gains in Burundi, Chad, Madagascar, Côte d’Ivoire, Mauritius, Somalia, South Africa and Guinea-Bissau. Equally, more modest declines were registered in both partly free and not free countries including Eritrea, Ethiopia, The Gambia, Kenya, Seychelles and Zimbabwe.

In contrast, five countries are flagged for achieving “notable progress” during 2006, including the Democratic Republic of Congo, which is praised for carrying out “largely successful” presidential elections—a somewhat debatable viewpoint given the flaws in the polls. Others heading in the right direction were Liberia, Benin, Malawi and Mauritania.

The report identifies region-wide developments responsible for declining freedom, notably the absence of government transparency and openness, as well as “increased government pressure” on the media and freedom of expression in countries with comparatively high levels of overall freedom like Ghana and Mali as well as those like Burundi and Gabon with generally poor freedom records.

Another factor is regime pressure on opposition political parties and leaders, but arguably the most important influence, according to Freedom House, is the “weakness of the rule of law” reflected in the ratings of a number of countries, ranging from Chad, Ethiopia and Eritrea to otherwise strong performers such as South Africa.

Indeed, noting the retreat of political liberalism in countries like Russia, Pakistan and Venezuela, Freedom House warns of “a discernible trend whereby countries achieve a modest level of freedom—the partly free countries of the survey—and then experience a failure to move forward to liberal democracy.” This apparent halt in progress could mean that the world faces “a period of freedom stagnation”.

Whatever their personal attitudes and beliefs, businesspeople and investors inevitably focus on the relationship between political freedom and economic performance. This is far from fixed. The fact is that since the late 1990s the global economy has performed very impressively, yet Freedom House shows that the proportion of the world population living in "not free" states has increased from 34% to 37% over the same period; in China, arguably the world’s most impressive economic performer, there have certainly been very few signs of an increase in political freedoms.

Indeed, there appears to be very little if any correlation between political freedom and a national economy's rate of expansion. The fastest-growing African economy since 1998 has been politically un-free Equatorial Guinea, with growth averaging 26% a year. Other repressed economies with high growth rates include oil exporters Angola and Chad. One tentative conclusion to be drawn from the freedom data is that richer then economy—in terms of oil or minerals—the greater the degree of political repression. The average freedom score for 12 resource-rich countries, mostly oil exporters but including mineral exporters like Botswana, DRC, Namibia and Zambia, is materially worse than that of 20 agricultural or diversified economies (at 4.66, as against 3.4).

Resource nationalism
Clearly, this is a matter of concern to businesspeople. Resource-rich countries, especially the oil exporters, attract more foreign direct investment than resource-poor or agricultural economies. But low levels of political freedom in mineral- and oil-rich economies (Botswana and Namibia are exceptions) implies greater political instability, with potentially adverse repercussions for foreign investors.

It seems too that the resurgence of “resource nationalism” around the world, especially in Latin America and the Middle East, but also in African states like Angola, Nigeria, Sudan, Equatorial Guinea, Congo and Chad, is positively correlated with political repression. The more determined the government to control a country’s natural resources, the greater the probability that political freedoms will be suppressed.

None of this is particularly surprising. Returns are greater in high-risk Nigeria, Angola, Sudan or the DRC than in South Africa, Kenya or Ghana. In other words, the correlation is not between political freedom and economic performance, but between political suppression and risk. The fewer the political freedoms, the greater the risk—and the higher the returns. For companies and potential investors, the challenges are those of risk evaluation and risk management. There is a temptation for oil companies to conclude that because Equatorial Guinea has a strong military ruler the risks of political instability are low, while the returns are way above average. That however, is the wrong conclusion. The higher the return, the greater the risks (economic, business and political) of a sudden, unexpected change in fortunes. Risk management is about predicting and anticipating change—as in Zimbabwe in 2007—not about believing that the status quo will last indefinitely.

http://www.economist.com/daily/news/displaystory.cfm?story_id=9725453

Electricity in Africa

The dark continent
Aug 16th 2007 | DAR ES SALAAM
From The Economist print edition
http://www.economist.com/images/20070818/3307MA3.jpg
Power shortages have become one of the biggest brakes on development

SPLSEEN from space, Africa at night is unlit—as dark as all-but empty Siberia. With nearly 1 billion people, Africa accounts for over a sixth of the world's population, but generates only 4% of global electricity. Three-quarters of that is used by South Africa, Egypt and the other countries along the north African littoral.

The need for more power stations in the rest of the continent has long been recognised, but most of the attempts at electrification in the 1970s and the 1980s failed. In some countries, dictators pillaged power stations for parts and fuel. In others, power stations were built but not maintained. Turbines were run at full capacity until they broke, then were abandoned. By some counts, only 17 of Nigeria's 79 power stations, many dating from this period, are still working; the country's demand for power is an estimated 7,600 megawatts, against an actual operating capacity of 3,500MW. The World Bank reckons that 500m sub-Saharan Africans are without what it calls “modern energy”.

The situation is bound to get worse as the demand for power continues to grow. Africa's relatively healthy economic growth of recent years begets factories and shopping centres—and power cuts galore. Whenever demand outstrips supply, the lights go out—several times during the writing of this story. The ubiquitous exodus from huts to houses only adds to the strains. Even the poorest rural migrants, once in the city, prize electric lighting and television sets, and millions are leaving their villages. Kenya's power utility estimates that it adds 12,000 households a month to the national grid.

For now, the continent remains largely dependent on hydropower: 13 countries use it for 60% or more of their energy. But Africa's rain falls more variably than, say, Norway's, and its dams often operate below capacity. Still, many new dams are being planned. Ethiopia has staked its development on damming the Blue Nile and other rivers. In west Africa dams are due to be built on the Niger, the Volta and Bandama. Some of these projects will be held up by financial and environmental disputes, just as Uganda's 250MW Bujagali dam on the White Nile has been. But most will get built.

The river with the biggest hydro potential is the Congo. The potential demand, too, is huge. Only 6% of Congolese have access to electricity and more power will be needed to get at the country's trove of minerals. A grand project to build a series of dams along the Congo's fast-flowing stretches could theoretically supply 39,000MW, enough to power the entire continent. But that will probably remain a dream. Congo has a terrible reputation among investors, and distributing the electricity across thousands of kilometres, much of it jungle, would pose formidable problems.

Aggreko, a company based in Scotland, is the world's biggest supplier of temporary electricity in the shape of back-up generators. It meets up to 50% of Uganda's power needs, and 10% of those of Kenya and Tanzania. It believes that the global power shortfall in the next decade will be much greater than predicted, perhaps over 500,000MW. The ensuing competition for energy, it argues, will see the world split between those countries whose economies grow faster than their power consumption and those, including most of Africa, whose power consumption grows faster than their economies.

Many African governments are looking at alternative sources of energy to make up their projected shortfalls. Hydropower is clean, from the point of view of greenhouse-gas emissions, but most of the easy alternatives, notably coal, are dirty. Donors committed to cutting global carbon emissions are unlikely to favour more dirty coal-fired power stations of the sort that predominate in South Africa, although the government there claims that it wants to clean them up. Some fossil fuels, however, are less damaging than coal. A pipeline planned for west Africa, which will carry gas that is now flared off in oilfields, could stabilise electricity supply in coastal cities.

Few Africans in rural areas have access to electricity. Connecting them to national grids will be slow and expensive. Yet Lilliputian windmills, water mills, solar panels and biomass furnaces could have a big collective impact. The cost of lighting a shack takes 10% of income in the poorest households and the kerosene lamps are highly polluting. In response, the World Bank has rolled out “Lighting Africa”, an ambitious effort to get 250m of the poorest Africans on clean-energy lighting by 2030.

Talk of the mass production of biofuels in Africa is premature, but advances have been made. Some investors are backing jatropha, a plant whose seeds produce an oil for burning in generators. There is also an effort to tap geothermal energy. The Great Rift Valley, from Eritrea to Mozambique, could produce 7,000MW. Kenya hopes to get 20% of its energy from geothermal sources by 2017.

Engineers think they can also use the steady winds in Africa's mountain ranges for power production. And if the costs of using the sun's warmth can be reduced to 30% below its present cost, vast solar farms could offer cheap, clean energy for African cities and in doing so boost incomes in rural areas. Egypt, which relies mostly on natural gas, is looking hard at solar power.

Other remedies for Africa's power shortages are more familiar but just as urgent: more efficient appliances, such as LED lighting, more deregulation, better use of existing resources by, for instance, improving the quality of power lines, and pooling power into regional grids. Otherwise Africa will remain in the dark.

http://www.economist.com/world/africa/displaystory.cfm?story_id=9660077

Alex Roney

First I will like to say that the economist is one of the most racist magazines that I have ever come across. The facts speak for them selves. You made mention of Nigeria and power generation. You seem to forget that Nigerian currently accounts for one of the largest markets (if not the largest in Africa) for stand by generators. Also you do not seem to be aware that the government is finding a solution to the power crisis through the building of new power stations.

Please take your racist ideas else where. It is people like you that continue to build a false negative impression of Africa.
Just in case you are not aware, I will post a carbon copy of matthias article Do not cry for Africa below.

Here is the link to Do not cry for Africa. In fact I think that the author is not from Africa
Do not cry for Africa (http://archive.gulfnews.com/articles/07/08/03/10143722.html)

Alex Roney

First I will like to say that the economist is one of the most racist magazines that I have ever come across. The facts speak for them selves. You made mention of Nigeria and power generation. You seem to forget that Nigerian current accounts for one of the largest markets (if not the largest in Africa) for stand by generators. Also you do not seem to be aware that the government is finding a solution to the power crisis through the building of new power stations.

Please take your racist ideas else where. It is people like you that continue to build a false negative impression of Africa.
Just in case you are not aware, I will post a carbon copy of matthias article Do not cry for Africa below.

Racist? Is that your reasoning? You sound like a younger less educated version of Louis Farrakhan. You may not like the Economist, but theirs no denying its one of the most respected magazines on the planet. I guess the world's consumers are dominated by racist filled people.

Now, do you not deny that Africa has a serious power crisis? Does the map in one of the articles shown not highlight this? Trying to find a solution or not, the article touches on the issues and problems, only because YOU don't like it doesn't justify a weak "racist magazine" argument. It makes you look foolish.

Just out of curiosity, is this racist agenda against all non whites or a conspiracy against black africans?

^^ Alex, you don't know anything about Louis Farrakhan, only caricatures, so STFU.

I've read Malcolm X's biography so I have some insight on Farrakhan. Farrakhan along with the Elijah Mohammed represent not only an incorrect doctrine of islam but they have perverted the U.S Civil Right's movement. Farrakhan is a racist, anti semetic bigot. He shows us how racism goes both ways.

Alex, ignore them. African countires are a joke that they cant even supply electricty to their own populations, I was in Ghana in 1999 and there were massive cuts, 8 years on, its the same problem. They are building even more dams which rely on unreliable rainfall. In Ghana, they are building a dam upstream to the one that is already shutting due to low water. What is wrong with them?

Alex, ignore them. African countires are a joke that they cant even supply electricty to their own populations, I was in Ghana in 1999 and there were massive cuts, 8 years on, its the same problem. They are building even more dams which rely on unreliable rainfall. In Ghana, they are building a dam upstream to the one that is already shutting due to low water. What is wrong with them?

:ohno: :ohno: Why do you draw such distinctions when you claim to be a Ghanaian?

Alex, ignore them. African countires are a joke that they cant even supply electricty to their own populations, I was in Ghana in 1999 and there were massive cuts, 8 years on, its the same problem. They are building even more dams which rely on unreliable rainfall. In Ghana, they are building a dam upstream to the one that is already shutting due to low water. What is wrong with them?

:ohno: :ohno: Popa1980, Why do you draw such distinctions when you claim to be a Ghanaian?

Popa, Africans aren't a joke its the leadership not only those at the head but those in state and local levels. Don't confuse criticism of the goverments with dislike of its people.

Popa, Africans aren't a joke its the leadership not only those at the head but those in state and local levels. Don't confuse criticism of the goverments with dislike of its people.

What an unreflected and sweeping generalisation!:ohno:

What an unreflected and sweeping generalisation!:ohno:

Unfortunately their is a lack of competency within African goverments, you may not like it but its a sad reality.

Unfortunately their is a lack of competency within African goverments, you may not like it but its a sad reality.

Fass Dir doch an deine eigene Nasenspitze, du Burenschwein!:bash:

Fass Dir doch an deine eigene Nasenspitze, du Burenschwein!:bash:

Sorry I don't speak German.

Sorry I don't speak German

Then learn it!

Then learn it!

Okay... you have some issues, I'll leave it at that.

Seriously Matthias, can you tell me the rationale of building a dam UPstream to a dam that already frequently closes becauase of low water levels. A 10 year old child could tell you that this is a stupid idea.

And Ghana is a democratic country, its about time Ghanaians take to the street and protest at their joke of a goverment. They're too apathetic to do anything it, they're expectations are too low and they let their leaders get away with anything. By coincidence, Bill Clinton was getting charged at the same time for lying about THAT affair with Monica Lewinsky, Ghanaians were saying that it was disrepctful to charge the President (despite the fact that he had lied to the whole American nation) Its the African mentality to turn a blind eye to incompetence.

Rather, whenever I am an Ghanaweb, a Ghanaian forum, people have politicised and tribalised the power shortages (despite the previous 'non-Ashanti' government being equally as incompetent).

popa1980, instead of blabbering me full for your analysis, could you tell me/us how to overcome it? Use nuclear energy or wind or sun power? Give the whole energy sector into foreign hands? All what you seem to excell in is criticisng and complaining endlessly but when it comes to finding peaceful and adequate solutions, your lips are pursed!

Seriously Matthias, can you tell me the rationale of building a dam UPstream to a dam that already frequently closes becauase of low water levels. A 10 year old child could tell you that this is a stupid idea.

And Ghana is a democratic country, its about time Ghanaians take to the street and protest at their joke of a goverment. They're too apathetic to do anything it, they're expectations are too low and they let their leaders get away with anything. By coincidence, Bill Clinton was getting charged at the same time for lying about THAT affair with Monica Lewinsky, Ghanaians were saying that it was disrepctful to charge the President (despite the fact that he had lied to the whole American nation) Its the African mentality to turn a blind eye to incompetence.

Rather, whenever I am an Ghanaweb, a Ghanaian forum, people have politicised and tribalised the power shortages (despite the previous 'non-Ashanti' government being equally as incompetent).


popa1980, instead of blabbering me full with your analysis, could you tell me/us how to overcome it? Use nuclear energy or wind or sun power? Give the whole energy sector into foreign hands? WHAT, please? A few street protest won´t change anything. All what you seem to excell in is criticisng and complaining endlessly but when it comes to finding peaceful and adequate solutions, your lips are pursed!

PS: Moreover, I don´t think that Kufuor is a "joke of a government"!:ohno:

incompetence that he was ashamed tell the nation that he cheated on his wife eh...he made a mistake now tell me u havent done anything wrong before...his good points far outweighed his bad points...bill clinton that is

Great naija, thats the typical African response I was waiting for. Classic. He lied to the entire nation, in the UK or many other nations, he would have resigned or been sacked, its incredible that he was able to stay on. I cant believe I actually heard educated people in Ghana saying they should stop the investigation against him.

When was the last time you were in Ghana Matthias? This government is a joke as was the previous government before.

Leave Alex and Popa alone, Alex is a racist trying to convince us of how backward Africa is . I have seen many Europeans like Alex on my visits to different African countries, where they treat native Africans as sub human. Yes it still happens. If Africa is that bad, why come to our forum or visit any country in Africa for that manner.

Leave Alex and Popa alone, Alex is a racist trying to convince us of how backward Africa is . I have seen many Europeans like Alex on my visits to different African countries, where they treat native Africans as sub human. Yes it still happens. If Africa is that bad, why come to our forum or visit any country in Africa for that manner.

LOL! Brilliant, I was waiting to see how long it will take for you to call me a racist. When in doubt of an conceivable argument, you churn up the race card, how clever of you. Where do I say Africa is backward and where have I ever treated anyone here as a "sub human"? Again enough with racism accusations its getting somewhat old and reflects an already poor image of your own intellect.

Btw my girlfriend is a mullata, so your racial "theory" is unfortunately incorrect.

Drop it Alex, if you're not African and don't agree with them, you are a racist. It's the way things work here, kind of have to get used to it.

Drop it Alex, if you're not African and don't agree with them, you are a racist. It's the way things work here, kind of have to get used to it.

Inertia, you will never learn, thats for sure. Regrettably, your South African (white) world is simply too small-minded which explains your unreflected response given to Alex. But, "it´s the way things work" there, "kind of have to get used to it."!

When was the last time you were in Ghana Matthias? This government is a joke as was the previous government before.

The only one who is a joke is you, popa1980. A friend of my father´s travelled to Ghana eight month back for business, (that friend is German, btw). He told the exact opposite of what you are desperately trying to get across..... Excersing positive criticism and bashing on a country are two different pair of shoes, you shameless chap!

Seriously Matthias, can you tell me the rationale of building a dam UPstream to a dam that already frequently closes becauase of low water levels. A 10 year old child could tell you that this is a stupid idea.

And Ghana is a democratic country, its about time Ghanaians take to the street and protest at their joke of a goverment. They're too apathetic to do anything it, they're expectations are too low and they let their leaders get away with anything. By coincidence, Bill Clinton was getting charged at the same time for lying about THAT affair with Monica Lewinsky, Ghanaians were saying that it was disrepctful to charge the President (despite the fact that he had lied to the whole American nation) Its the African mentality to turn a blind eye to incompetence.

Rather, whenever I am an Ghanaweb, a Ghanaian forum, people have politicised and tribalised the power shortages (despite the previous 'non-Ashanti' government being equally as incompetent).

many americans also shared the ghanaian point of view. fact is bill clinton was chased as part of a political witch hunt that had nothing to do with upholding the law.

Great naija, thats the typical African response I was waiting for. Classic. He lied to the entire nation, in the UK or many other nations, he would have resigned or been sacked, its incredible that he was able to stay on. I cant believe I actually heard educated people in Ghana saying they should stop the investigation against him.

educated americans said the same thing. the actions taken against clinton was more broadly supported here. where do you get your views from/?

LOL! Brilliant, I was waiting to see how long it will take for you to call me a racist. When in doubt of an conceivable argument, you churn up the race card, how clever of you. Where do I say Africa is backward and where have I ever treated anyone here as a "sub human"? Again enough with racism accusations its getting somewhat old and reflects an already poor image of your own intellect.

Btw my girlfriend is a mullata, so your racial "theory" is unfortunately incorrect.
that you refer to your girlfriend as mullata actually reinforces the fact that you're a bigot. besides, what does having a mullata GF mean? that you cant be racist?

that you refer to your girlfriend as mullata actually reinforces the fact that you're a bigot. besides, what does having a mullata GF mean? that you cant be racist?

Very well spoken. But let's stick to the topic and not ruin this thread becuase someone never has confronted their prejudices.

poor image of your own intellect.

never mind Alex, you say poor interlect? I have two degrees, from two different British Universities, now calling me someone with a poor interlect only comfirms what I called you earlier.

that you refer to your girlfriend as mullata actually reinforces the fact that you're a bigot. besides, what does having a mullata GF mean? that you cant be racist?

How is it racist? Is mullata somehow a racist term in your overly p.c mind? The only thing that it doesn't reinforce is your dumb claim of me being a bigot. How can anyone be a bigot and have a relationship with those he looks down upon? Explain to me this logic Dr.Freud?

How is it racist? Is mullata somehow a racist term in your overly p.c mind? The only thing that it doesn't reinforce is your dumb claim of me being a bigot. How can anyone be a bigot and have a relationship with those he looks down upon? Explain to me this logic Dr.Freud?

so you have never heard of those that worked to keep blacks down, by killing them and passing laws to harm them yet having relationships wih them? i cant explain it, but i know it exists and its sick. if you are brazilian im sure you have many examples of this.

we have thomas jefferson hat kept slaves and had children by her, yet ran a country where no freedom was given t black. you have strom thurmond. these are american leaders and you can google them. there was a white police officer in the US that attacked his black guy in the mos vicious and racis way, yet had a black GF.

you may no be a racist, bu telling me you re dating a mullata is not proof of this

so you have never heard of those that worked to keep blacks down, by killing them and passing laws to harm them yet having relationships wih them? i cant explain it, but i know it exists and its sick. if you are brazilian im sure you have many examples of this.

we have thomas jefferson hat kept slaves and had children by her, yet ran a country where no freedom was given t black. you have strom thurmond. these are american leaders and you can google them. there was a white police officer in the US that attacked his black guy in the mos vicious and racis way, yet had a black GF.

you may no be a racist, bu telling me you re dating a mullata is not proof of this

Eh? its 2007 I've never seen or experienced any of those scenarios you've just laid out. As a Brazilian I know of laws that have kept poor people down, not a race. (post 1888 ofcourse)

Well lets put things into context, Jefferson owned slaves, I do not. Owning slaves and having sexual relations with them is completely different than being in a consentual relationship. How do you know this white cop beat a black guy was racially motivated. I spent a summer in Compton and I find L.A police men in particular to be rude, aggresive and plain mean. I was cruising with a hispanic buddy of mine in Wilmington Av. CPT when we were randomly pulled over by two cops (one black and one white). We were called "boys", our faces was pushed up against the windshield of the cop car by one Police's baton while the other searched us. We cooperated but had we ever back talked we'd would have gotten a Rodney King ass whooping.

The next time you find a skinhead with a black mate, give me a call. Since were on the topic of proof I've asked various times people to show where I have shown bigoted remarks.

Reality is Mike, bringing out the race card is a desperate attempt when someone shows a complete lack of argumentative points. So everytime I'm accused of such a petty insult I'll take it as a compliment.

Eh? its 2007 I've never seen or experienced any of those scenarios you've just laid out. As a Brazilian I know of laws that have kept poor people down, not a race. (post 1888 ofcourse)

Well lets put things into context, Jefferson owned slaves, I do not. Owning slaves and having sexual relations with them is completely different than being in a consentual relationship. How do you know this white cop beat a black guy was racially motivated. I spent a summer in Compton and I find L.A police men in particular to be rude, aggresive and plain mean. I was cruising with a hispanic buddy of mine in Wilmington Av. CPT when we were randomly pulled over by two cops (one black and one white). We were called "boys", our faces was pushed up against the windshield of the cop car by one Police's baton while the other searched us. We cooperated but had we ever back talked we'd would have gotten a Rodney King ass whooping.

The next time you find a skinhead with a black mate, give me a call. Since were on the topic of proof I've asked various times people to show where I have shown bigoted remarks.

Reality is Mike, bringing out the race card is a desperate attempt when someone shows a complete lack of argumentative points. So everytime I'm accused of such a petty insult I'll take it as a compliment.

you asked me if how one can date a mulatta and not be racist and i showed you that it exists and is plentiful. poitning otu your are dating a 'mulatta' does not mean you are not racist.

by the way i know the beating of this black guy was racially motivated because it was very high profile. the cop plead guilty and is currently spending time in prison for it

Well, maybe it is more okay to say mulatta in portugese than it is in english, becuase atleast in the UK and the US thats a term thats not used. To most blacks and mixed race the mere usuage of the word is quite offensive. Many people see it as just as offensive as the N-word.

and I can only agree, whatever colour ur girlfriend has, it proves nothing. On the other hand Alex you dont have to prove anything.

Well, maybe it is more okay to say mulatta in portugese than it is in english, becuase atleast in the UK and the US thats a term thats not used. To most blacks and mixed race the mere usuage of the word is quite offensive. Many people see it as just as offensive as the N-word.

and I can only agree, whatever colour ur girlfriend has, it proves nothing. On the other hand Alex you dont have to prove anything.


i agree. and this dicussion takes away from the point of the thread

This has to stop, if people arent mature enough to come onto a forum, and accept criticism without resorting to calling people [unfounded] racists, then they should simply leave.

Matthias, please dont start telling me about Ghana, I know more about Ghana that you will ever do, just stick to your Nigeria.

Well, maybe it is more okay to say mulatta in portugese than it is in english, becuase atleast in the UK and the US thats a term thats not used. To most blacks and mixed race the mere usuage of the word is quite offensive. Many people see it as just as offensive as the N-word.

and I can only agree, whatever colour ur girlfriend has, it proves nothing. On the other hand Alex you dont have to prove anything.

Well first off it is a portuguese/spanish word to begin with, or atleast its root. If you find that offensive, I suggest you don't go to anywhere in Latin America, were far to politically incorrect by western standards. Hell what kind of a world is it when white latinos call black latinos "negro", "moreno/a" and blacks call light skin people "alemão". lol Political correctness breeds more racism.

This has to stop, if people arent mature enough to come onto a forum, and accept criticism without resorting to calling people [unfounded] racists, then they should simply leave.

Matthias, please dont start telling me about Ghana, I know more about Ghana that you will ever do, just stick to your Nigeria.

You know absolutely nothing about me. N-A-D-A! So I just shrug off your comment as "de l´air pété"!

Popa1980, as a Ghanaian you seem to display very little interest in your country, when did you come up with any form of written or visual information about Ghana? Giving snooty commenst is so easy and quick....
Why don´t you search for pictures and projects or news like the Nigerians, Kenyanas, Senegalase or Angolans are doing it instead? Instead you prefer to ONLY criticize and comment and reinforce people in their century old stereotypes they hold on Africa, Well done! That´s the way forward. It will certainly help your "beloved" Ghana profusely, Mr Popa1980.

I am tired of talking, talking and talking so I cut it off here, whatever you will reply, simply goes me off my ass! Ciao

I am tired of talking, talking and talking so I cut it off here

Thank you, Done. We all have our issues let's put them aside. And lets try to resucitate this thread.

Angola: Brazil's Exports to Country Rise by 60 Percent

4 September 2007
Posted to the web 5 September 2007

Luanda

Exports from Brazil to Angola rose by 60 percent in 2006, going from Usd 520 million in 2005 up to Usd 836 million last year.

The information was released Tuesday in Luanda by Angolan Finance minister, José Pedro de Morais, when opening a seminar on Brazil/Angola trade.


According to the minister, the commercial flow between the two countries recorded a 14 percent rise in the first five months of this year.

The reason for this, the official said, are the financial facilities granted through the Exports Financing Programme (Proex) and Brazil's National Bank for Economic and Social Development.

In 2005, the volume of financing reached about Usd 475 million, a figure that rose to 750 million the following year.

The source stated as well that currently, the two countries are considering to expand the financial facilities, in view of the level of absorption of the financial flow by the Angolan authorities.

"The participation of Brazilian goods in the set of the imports by Angola has been on the rise. In 2003, the Brazilian exports to Angola represented about 4,3 percent of the country's overall imports. In 2004 and 2005 (represented six percent) and in 2006 the figure went up to about seven percent.

Relevant Links

Central Africa
Southern Africa
Angola
Economy, Business and Finance



Cane and beet sugar and saccharose, petrol, iron pipes, steel for pipelines, tractors, chassis and others are the main goods Angola imports from Brazil.

Angola is the fourth African country that imported more Brazilian goods in 2006, after South Africa, Nigeria and Egypt.

Sponsored by the Embassy of Brazil to Angola, the seminar on bilateral trade, that closed today, was part of the celebrations of that Latina America Portuguese speaking country's 185th anniversary, on September
http://allafrica.com/stories/200709050062.html

Investing: Out of Africa

By Conrad de Aenlle
Published: September 7, 2007

http://img.iht.com/images/v3/logo_all.gif

There is plenty in Africa to satisfy optimists and pessimists alike. Those of a sunnier bent point to surging prices in commodities like oil, gold and copper that lie in abundance beneath the continent; a multibillion-dollar infrastructure investment program in concert with Africa's new best friend, China; and stirrings of political, economic and financial reform - the ideal breeding ground for a spurt in development.

The killjoys reply that commodity prices are prone to go down after they go up. More important, and in sharp contrast to Asia and Latin America, reform has seldom advanced in Africa much past the stirring stage since the first crop of countries broke free half a century ago from the empires that controlled them.

Yet the optimists seem to be winning the debate. African stock indexes show returns during the last five years that are on par with other emerging economies and far superior to the developed markets of Europe and North America. Two of the three most widely followed markets, Morocco and South Africa, are up more than 30 percent a year over the period; the other, Egypt, has an annualized gain of nearly 70 percent.

Much of the advance in share prices and economic output is credited to the commodity boom. Were it to end today, the region undoubtedly would suffer, but not as much as many might think, said John Mackie, head of Africa investment for Stanlib, the asset management business of Standard Bank of South Africa.

"The uplift in commodity prices has changed a lot of countries' lives over the last few years - diamonds in Botswana, Zambian copper, oil in Nigeria," Mackie said. "If they don't continue to rise, it's going to put a damper on things, but the windfall proceeds are trickling down to the rest of the economy, to telecoms, financial services. It's a conduit to get things going."


Richard Bernstein, chief investment strategist at Merrill Lynch, expects things to trickle down and get going farther this time around than in earlier booms. The continent "is at an inflection point that could produce a dramatic change in its economic prospects," he wrote in a note to clients. "A confluence of factors could make this period one in which many of the nations of Africa finally develop and emerge from debt-laden, aid-financed, market-responsive commodity exporters, to market-driven diversified economies."

Or not. "The nations of Africa must overcome many of their past mistakes if they are to realize their economic potential and improve the daily lives of their citizens," he added.

So far, so good, in Bernstein's view. He noted that African economic output had risen at 5 percent annually since 2001, compared to global growth of 4.2 percent.

Merrill Lynch analysts recommend shares of several African businesses, including Telecom Egypt and, in South Africa, the chemical producer Sasol, the mining concern Gold Fields and the drug maker Aspen Pharmacare Holdings.

Mackie's Standard Africa Equity Fund, which invests throughout the continent, except South Africa, has such diverse holdings as Mauritius Commercial Bank; Zambeef, a Zambian food production and supply enterprise; Orascom Construction and Orascom Telecom in Egypt and GT Bank in Nigeria.

Hugh Young, head of equities at Aberdeen Asset Management, finds limited investment choices in a region with "a smaller population, weaker economies and governments," compared with, say, Asia. But fewer opportunities does not mean worse ones, he said. "The actual earnings growth for companies can be as strong as in Asia," Young said.

His handful of holdings includes a pair of South African retailers, Truworths and Massmart; National Société Générale Bank, an Egyptian affiliate of the large French institution Société Générale, and Qatar Insurance. Qatar is part of the Arabian Peninsula, which is in Asia, but investment advisers tend to place Arabian companies in the African portion of their portfolios.

Another appeal of Africa, especially for a value investor like Young who loathes the thought of paying a penny more for a stock than it is worth, is that earnings growth there can often be obtained at bargain prices. Stocks tend to trade at a lower multiple of annual earnings in places like South Africa than in other emerging markets, he said.

hope i'm not beating a dead horse but....
Alex, when white people say things like "some of my best friends are black" many if not most black people stop listening to your point and only hear "i am a closet racist and i don't even know it" this is akin to pulling the race card. that is because there should be no reason to bring up your good relationships with a few black people in your discussion, either you are a racist or your not and not all racists wear bed sheets and worship hitler. if you look at many of the historical attitudes of europeans toward africans you will find that the whites are quite racist, yet in their eyes they love black people.

hope i'm not beating a dead horse but....
Alex, when white people say things like "some of my best friends are black" many if not most black people stop listening to your point and only hear "i am a closet racist and i don't even know it" this is akin to pulling the race card. that is because there should be no reason to bring up your good relationships with a few black people in your discussion, either you are a racist or your not and not all racists wear bed sheets and worship hitler. if you look at many of the historical attitudes of europeans toward africans you will find that the whites are quite racist, yet in their eyes they love black people.

I'm in complete agreement with you, but you might have noticed that their is alot of race card "pulling" in this forum. Its ussually baseless and comes in the form when someone lacks any sort of concrete arguments. Stupidity doesn't bother me but ignorance does, and the fact that some members like to bring race into the fray when its completely irrelevent reveals to things to me. One, that some people might have an inferiority complex so they must beat around the bush various times. Two, that those individuals have their own racial predjudices so by constantly condeming and generalizing a particular group they show their own racism.

I'll share the views as Chris Rock once put it "I love black people....but I hate n1ggaz" feel free to interpret that as you like.

I visit a lot of fora on the SSC..and I can say that SSC|Africa is one my favorites...the level of knowledge shown here is astounding! I think yall need to stop the personal attacks and just debate on technical issues. Its good to have divergent opinions and I enjoy reading both Matt and Alex's contributions...I think they should shake hands and make up lol.

I'm in complete agreement with you, but you might have noticed that their is alot of race card "pulling" in this forum. Its ussually baseless and comes in the form when someone lacks any sort of concrete arguments. Stupidity doesn't bother me but ignorance does, and the fact that some members like to bring race into the fray when its completely irrelevent reveals to things to me. One, that some people might have an inferiority complex so they must beat around the bush various times. Two, that those individuals have their own racial predjudices so by constantly condeming and generalizing a particular group they show their own racism.

I'll share the views as Chris Rock once put it "I love black people....but I hate n1ggaz" feel free to interpret that as you like.

people don't pull the race card for nothing- at least most intelligent people and those that do so here come across as being intelligent. always remember that africans have been on the receiving end of racism so long that it is easy for us to see it (whether real or imagined). perhaps some forumers are jumping the gun, but you should ask your self "why?" many people's tones do come across as being racially condescending/ignorant irregardless of whether they are racist or not. some of your comments may have been construed in that way and thus people's panties have all bunched up. so if you don't mean it that way just explain your self and stop going on the defensive and/or being dismissive attitudes which make everyone more sure that you are a racist.

people don't pull the race card for nothing- at least most intelligent people and those that do so here come across as being intelligent. always remember that africans have been on the receiving end of racism so long that it is easy for us to see it (whether real or imagined). perhaps some forumers are jumping the gun, but you should ask your self "why?" many people's tones do come across as being racially condescending/ignorant irregardless of whether they are racist or not. some of your comments may have been construed in that way and thus people's panties have all bunched up. so if you don't mean it that way just explain your self and stop going on the defensive and/or being dismissive attitudes which make everyone more sure that you are a racist.

If you think people don't put in baseless accusations, than read this entire thread and try to search some hidden meaning on any of my posts which make you come to the conclusion that I'm a racist. Unfortunately I'm not the only one whose been accused of this, Anton a european whose only interest is to learn and share his own views as also been said to be a racist. Inertia who according to some his "white" South Africaniss apparantly makes him pre disposed as a raging bigot. I've asked various times for people to point out how I'm a bigot, yet NOT ONCE as anyone even pulled out an example to further their claim. Thus making their insults stupid and indeed dismissive.

Gambia predicts economic boom

afrol News, 7 September - The Gambian economy has been projected to grow at a robust 7%, the country's acting Central Bank Governor, Bamba Saho, disclosed.

Governor Saho told a news conference that the robust growth will be "underpinned by plentiful and well distributed rainfall which should increase agricultural production, expanding the services sector, including banking, tourism and communications and the continuing boom in construction.”

The International Monetary Fund (IMF) was satisfied with the country's first review of the economic performance, which was supported by a three-year Poverty Reduction and Growth Facility (PRGF) programme.

The Gambia was also praised for attaining macro-economic stability and higher economic growth. Consequently, the IMF has approved the release of US 3.1 million to the country.

Between December 2006 and July 2007, the Gambian currency [the dalasi] appreciated against the US dollar, pound sterling, euro and CFA franc respectively by 9.7%, 3.8%, 2.2% and 4,9%, which according to the Governor, reflected an

“improved macro-economic fundamentals including robust output growth, increased foreign inflows from foreign direct investment, private remittances, re-exports, travel receipts and cashew exports as well as confidence in the Gambian economy and healthy reserves.”

He said inflation is yet to show a convincing results, with highest consumer price index rising to 9.7% in food while non-food items show the lowest of 2.5%. Saho predicted that inflation will decline by 5% by end of December this year.

Backed by improving financial conditions, Saho expected sustainability of the "robust economic expansion" in the near future. He however warned against the risks posed by volatile oil prices and rising global aggregate demand and their possible “knock on” effect on general prices.

The banking sector had remained robust with an average capital adequacy ratio of 26.1%, which is higher than the required minimum of 8%. By the end of June 2006, the total assets of banks rose to 17.3%.

Saho further disclosed that the Central Bank's operating targeted money reserve grew by 6.6%, lower than 16.2% the previous year. By the end of December 2006, the “reserve money growth was a negative 10.5%.”

Central Bank expected money supply and reserve money to grow below the targets of 13.3% and 10.6% respectively by end of December.

“The public finances performed better than projected in the first half of 2007," Mr Saho said. "Domestic revenue exceeded the target by US $8.5 million, owing to higher than projected tax and non tax revenue. Total expenditure and net lending on the other hand was below projection (ceiling) by about US $0.2 billion. The overall fiscal balance (on cash basis) recorded a surplus of US $17.30 million, compared to the projected deficit of US $4.02 million.”

Due to decrease in external borrowing, the capital and financial account balance is projected to decline to a surplus in 2007.

The first quarter of 2007 indicates an overall deficit of US $2.1, the current account deficit is estimated at US $2.0 million while the capital and financial account deficit at US $0.2 million.

As at 24 August, 2007, gross official reserves amounted to US $120.5 million, which totalled to five months import cover.

By staff writer

© afrol News

Brazilian companies have “Africa fever”, press reports [ 2007-09-18 ]


Sao Paulo, Brazil, 18 Sept – Brazilian companies have “Africa fever," and are increasing investment in several countries on the continent, according to a report in Brazilian newspaper Folha de São Paulo.

Companies in sectors such as energy, construction, mining, clothing, footwear and food are boosting partnerships “in one of the most profitable, promising and competitive areas of the global market,” the paper said.

Trade between Brazil and Africa rose from US$3.5 billion in 1997 to US$15.6 billion last year.

The offensive by Brazilian companies aims to recover the market that Brazil had in the 1970s, but which was later abandoned.

Large companies, such as oil giant Petrobras, mining company Companhia do Vale do Rio Doce, and construction companies, Odebrecht, Camargo Corrêa and Andrade Gutierrez are expanding tehir operations, namely in Angola and Mozambique.

“Not taking part in these strategic moves could place Brazilian companies at the mercy of destabilization and conditions for competitive involvement in the world market,” said the chairman of Vale do Rio Doce.

Roger Agnelli notes that Africa was currently the place where access to raw materials was being fought over.

The paper noted the projections of the International Monetary Fund (IMF) that the African economy would post growth of 6.2 percent this year, with Angola registering growth of 19 percent.

Brazilian technology for biofuel production is expected to provide a market for companies, namely in Mozambique and Nigeria, whose governments have already shown an interest, the article said. (macauhub)
http://www.macauhub.com.mo/en/news.php?ID=4065

:banana: :banana: :banana: La Gazzetta del Sud Africa

Sabato, 8 Settembre 2007 :dance:


Nigeria open for business


Jocelyn Newmarch | Johannesburg, South Africa

Business in Nigeria is booming -- and South African companies are determined to be a part of an economy they say has sky-high potential, despite the challenges posed by unpredictable regulations and unreliable power.

In recent years more than 100 South African companies -- among them MTN, Nando's, Shoprite, Game, Naspers and Johncom -- have entered the Nigerian market. Mvelaphanda Resources is said to be eyeing the underdeveloped Nigerian minerals sector, along with bigger players such as BHP Billiton.

Of these companies, MTN has enjoyed the most obvious success, with revenue of R14,9-billion last year. But other players are upbeat.

Investment is helped by official market rates moving closer to those of the parallel market. A unified exchange rate has been a long-standing demand of the International Monetary Fund and was one of the goals of former president Olusegun Obasanjo's government.

This means that money, which was previously laundered to invest outside the country, is now being used to invest in legitimate Nigerian companies, according to a business insider.

The perception of "Nigeria" still exists, with several companies saying there is a hidden cost to doing business in Nigeria. Two public relations companies said that when organising media events journalists had asked for payment. South African expats said they are asked constantly for tips at roadblocks and they are asked to pay more because they are foreigners.

A patronage system is in place. Many Nigerians are expected by their communities to give jobs to relatives. But one expat said Western companies constantly give favours to clients, such as tickets to high-profile sporting events. The only difference seems to be that Nigerian clients prefer cash to freebies.

A commentator said South African companies face three major challenges in Nigeria. Often the regulatory environment is unpredictable, with import bans on certain items creating difficulties for big retail groups in particular, including Game and Shoprite. He said it seemed the intention was to remove the import bans, which were intended as part of an import substitution programme.

The import bans, which can cover "anything from toothpicks to imported furniture", says expat Ian Taylor, have been roundly criticised.

Taylor said Woolworths opened a store in Nigeria, but closed shop when a ban on imported clothing took effect. Imported beers are banned, as are imported apples, although Nigeria produces no apples of its own. Consequently, smuggled apples are for sale on every street corner and in the Shoprite in Lagos.

The commentator said the physical infrastructure is weak, particularly in terms of energy. "Wherever you go you have to put in private power sources. Most of these are diesel-driven. As fuel prices have increased since deregulation, this is a considerable additional cost."

Companies also face logistical challenges as Nigeria has tried to diversify away from an oil-based economy. Infrastructure development has not kept pace and remains geared towards exporting oil. Consequently, there are long delays at ports and in clearing goods.

"The potential here is unbelievable," said Taylor, a regional director of brand-activation agency Exp. "The question is: How do you get the product to the people?" Middle-class consumers can afford to buy a tube of toothpaste, which lasts a month, but working-class consumers buy a sachet, which is enough for three or four days.

Understanding the market is important, as is living with what he terms inefficiencies. "We came in with certain standards, because of the way we were brought up, but 90% of Nigerians have never been exposed to anything outside Nigeria."

But those companies that get the market right are printing money. Shoprite's first supermarket opened in Lagos at the end of 2005 and was profitable within the first year. Its deli section, where cold meat is sold, reputedly makes more money than any other deli in the group, including South African stores.

Although most of the products it sells are imported, local products are marked with stickers of the Nigerian flag on the shelves. Shoprite also works with local farmers to source fresh produce from within Nigeria.

Nando's, which has partnered with local company UAC, opened its sixth restaurant in Lagos this month and credits UAC's local knowledge with its success. Marc Schreuder, a director of UAC Franchising, said his company doubled its share value in the past year and it has 230 franchise applications now, the same number as UAC's existing restaurants.

With Famous Brands and St Elmo's, South African companies now dominate the fast-food market. South African companies have targeted mainly the retail, environment and food sectors of the economy. Johncom bought Business Day Nigeria and moved its Nu Metro cinemas and media stores into Lagos.

Success doesn't come easy, though. One South African expat said that at the end of every week he and his partners tally scores in the continuing game of Nigeria versus Us. "For just one week in two years we beat Nigeria 4-0. And the following week we were kicked out of our offices for the next three weeks," he said.

Although credit cards are available, visitors are cautioned to use cash. Rumour has it that MasterCard had to suspend its card offering for a few months after several top businessmen maxed out their cards and refused to pay what they owed.

"Making money in Africa is a long-haul process. There are no quick bucks. And growth is still in very limited areas. You need to be careful what you invest in," said the commentator.

De-oiling the economy

There's certainly a lot of money available for investing, helped in part by the booming oil price. Oil and gas contributed 21,5% of Nigeria's GDP last year, according to the country's National Bureau of Statistics.

Oil also contributed 95% of foreign exchange earnings and 65% of budgetary revenues, said the CIA Factbook for Nigeria.

Rumour has it that Nigeria is home to more sterling billionaires than the United Kingdom. In Lagos, the commercial capital, luxury cars are as evident on the roads as the beaten-up minibus taxis. Those who have wealth flaunt it and are expected to help out their less fortunate relatives.

The country is trying to break away from its over-reliance on oil revenue with a tiny manufacturing sector, an endemic lack of skills and a 56%poverty rate. Inequalities are stark. Just more than a third of the 140-million strong population is formally employed.

The astronomical growth of the mobile market -- which has reached 30-million users in less than six years, according to Reuters -- has proved that there is money to be made and that the Nigerian middle class is huge.
:dance2: :cheers2: :carrot: :bowtie:

MTN is the country's biggest operator with 45% market share. Former president Olusegun Obasanjo's government kick-started a process of democratic economic liberalism with the auction of cellphone licences.

More importantly, stability was introduced when the banking system was restructured from more than 100 small banks to 25. In recent years this has consolidated further. With this there has been an increase in banks' capitalisation and a focus on retail banking products. For the first time credit systems, hire-purchase agreements and mortgage bonds are available, leading to a surge in disposable income.:banana: :banana:

"I'm investing in banking stocks," said UAC franchising director Marc Schreuder. He said the stocks have tripled in value in the past three years.:cheers: :cheers: :cheers: :cheers: :dance2: :cheers1:
Jocelyn Newmarch was a guest of Nando's in Nigeria

Funny that even tho South African's are so hated in Nigeria, they play such a large role in the economy. Ironic i think :|

Funny that even tho South African's are so hated in Nigeria, they play such a large role in the economy. Ironic i think

Oh yes, and Nigerians are loved in South Africa, "of course" although many honest people go to your country, buy houses and spend money in your shops, that´s not ironic, "of course". LOL!

China to Lend DRC $5 Billion to Develop Infrastructure

China has agreed to lend the Democratic Republic of Congo $5 billion to modernize the country's infrastructure and develop its mining industry.

Chinese and Congolese officials signed the draft loan agreement in the DRC capital, Kinshasa, on Monday.

Under terms of the deal, the DRC will borrow $3 billion to build new infrastructure, including a major highway, a railway, 31 hospitals, 145 health centers and two universities.

The highway will link Kisangani in northeastern Congo to Kasumbalesa near its southern border with Zambia. The railway will connect Congo's southern mining heartland to the western port of Matadi.

Congo's government will use the remaining $2 billion to upgrade its aging mining infrastructure through joint ventures with Chinese companies.

Beijing is keen to gain access to raw materials from Africa to feed the fast-growing Chinese economy.

Congo possesses a wealth of natural resources, such as cobalt, copper, gold and diamonds. Exploitation of these resources has been slowed by years of war.

Eastern Congo remains volatile but peace has held elsewhere in the country since landmark elections last year.

http://www.voanews.com/english/2007-09-18-voa34.cfm

http://thisdayonline.com/images/forum.jpg


More information herehttp://www.thisdayonline.com/nigeriameetstheworld/#a3

There is also an online forum opened up. http://conference.thisdayonline.com/index.php

Go give your POV online...

Special Guest of Honour:
President Umaru Musa Yar’ Adua, GCFR, President of Nigeria

Speakers include:
Dr. Condoleezza Rice, US Secretary of State*
Dr. Henry Kissinger, former US Secretary of State
Dr. Lawrence H. Summers, former US Treasury Secretary
Mr. James Wolfensohn, former President, The World Bank Group
Chief Emeka Anyaoku, former Commonwealth Secretary General
Professor Wole Soyinka, Nobel Laureate
Ambassador Babagana Kingibe, Secretary to the Government of Nigeria
Dr. Rilwan Lukman, former OPEC President & Honourary Adviser to the Government of Nigeria
Chief Ojo Madueke, Nigerian Minister of Foreign Affairs
Dr. Shamsudeen Usman, Nigerian Minister of Finance
Mrs. Diezani Alison-Madueke, Nigerian Minister of Transportation
Mr. Henry Odein Ajumogobia, Nigerian Minister of State for Petroleum
Professor Charles Chukwuma Soludo, Governor, Central Bank of Nigeria
Dr. Bukola Saraki, Governor, Kwara State of Nigeria
Mr. Babatunde Raji Fashola, SAN, Governor, Lagos State of Nigeria
Dr. Emmanuel Oduaghan, Governor, Delta State of Nigeria
Mallam Ibrahim Shema, Governor, Katsina State of Nigeria
Justice Mohammadu Uwais, Former Chief Justice of Nigeria
Professor Bolaji Akinyemi, Former Foreign Minister of Nigeria
Mr Olisa Agbakoba, SAN, President, Nigerian Bar Association
Mr. Abdoulaye Bio-Tchane, Director, International Monetary Fund*
Dr. Oby Ezekwesili, Vice President for Africa, World Bank Group
Ms. Jendayi Frazer, US Assistant Secretary of State for Africa*
Mallam Abubakar L. Yar’Adua, Group Mananging Director, NNPC
Tanimu Yakubu, Chief Economic Adviser to the President of Nigeria
Justice Emmanuel Ayoola, Chairman, ICPC
Mallam Nuhu Ribadu, Chairman, EFCC
Mr. Patrick Smith, Editor-in-Chief, Africa Confi dential
Bayo Alade-Loba, Head, Sub-Saharan Africa Investment Banking,
Credit Suisse Securities

Hosts:
Paul Begala, Ikenna Ndaguba, Bill Kristol

Thisday Global Conference New York Sept. 24 2007

:cheers:

Oh yes, and Nigerians are loved in South Africa, "of course" although many honest people go to your country, buy houses and spend money in your shops, that´s not ironic, "of course". LOL!

Lol please show me these honest ppl.. And with that the data to show that Nigerians are playing a vital role in the SA economy. We actually have a reason not to like most Nigerians in SA as a lot of local drug scams, murders, robberies and the likes are often somehow connected to a Nigerian.

Lol please show me these honest ppl.. And with that the data to show that Nigerians are playing a vital role in the SA economy. We actually have a reason not to like most Nigerians in SA as a lot of local drug scams, murders, robberies and the likes are often somehow connected to a Nigerian.

Please, Inertia, why always this???? You are a dreadful liar!

Inertia, MOST OF THE CRIMES COMMITTED IN SOUTH AFRICAN ARE MADE BY SOUTH AFRICAN THEMSELVES. Even your papers lay claim to this fact.

Your accusations just points to the fact how closed-minded you and your country still is.

This is just one of diccusion (you will easily find hundreds of these on the net)

Unfortunately, NON- Whites are most unwelcome in South Africa, they are unjustly blamed for everything in South Africa.

READ THIS: http://www.topix.com/forum/world/south-africa/TDDOCFHLECKV7UDS9

My Brother, you allow these people get to you and put you on the defensive. Ignore the stupid people and continue posting positive message. You do an excellent job posting positive images about Nigeria.

Ignore two things on this forum:

(1) Any Nigerian-South African interaction/news article. There is always trouble in the forum. Shun any interaction with Alex Roney, Arthabitat (unless it is in german), South Africans especially those known to cause trouble.
(2) Any thread on "largest economies"/"most quality living"/"GDP" created for intentional slander. 70% of the posts in those threads rely on debates about Nigeria to keep them alive.

There are many positive news on Nigeria. More and more positive news is coming out of Nigeria as Nigeria finds it's feet. Simply post as many positive news as possible.


Inertia, MOST OF THE CRIMES COMMITTED IN SOUTH AFRICAN ARE MADE BY SOUTH AFRICAN THEMSELVES. Even your papers lay claim to this fact.

Your accusations just points to the fact how closed-minded you and your country still is.

This is just one of diccusion (you will easily find hundreds of these on the net)

Unfortunately, NON- Whites are most unwelcome in South Africa, they are unjustly blamed for everything in South Africa.

READ THIS: http://www.topix.com/forum/world/south-africa/TDDOCFHLECKV7UDS9

Funny that even tho South African's are so hated in Nigeria, they play such a large role in the economy. Ironic i think :|

no they dont play a large part of the economy. mtn has a big part of telecoms for now, but outside of that thier investment is not significant. they know their country is limited in growth and are running to nigeria we can do well with the SA's

and i actually wish they were hated more in nigeria, at least the whte ones the way they treat the blacks in nigeria

Inertia, MOST OF THE CRIMES COMMITTED IN SOUTH AFRICAN ARE MADE BY SOUTH AFRICAN THEMSELVES. Even your papers lay claim to this fact.

Your accusations just points to the fact how closed-minded you and your country still is.

This is just one of diccusion (you will easily find hundreds of these on the net)

Unfortunately, NON- Whites are most unwelcome in South Africa, they are unjustly blamed for everything in South Africa.

READ THIS: http://www.topix.com/forum/world/south-africa/TDDOCFHLECKV7UDS9

I am not a big fan of blaming foreigners for our own problems. SA's crime problem is multi-faceted with both locals and foreigners taking part and i have said this before. I lay the problem squarely on police and Dept of Home Affairs. The police are not effective in policing and ensuring that the criminals are brought to book, while home affairs is letting people into the country who are not coming to help improve the country by doing productive work, instead they are bringing in drug peddlers, robbers etc.

no they dont play a large part of the economy. mtn has a big part of telecoms for now, but outside of that thier investment is not significant. they know their country is limited in growth and are running to nigeria we can do well with the SA's

and i actually wish they were hated more in nigeria, at least the whte ones the way they treat the blacks in nigeria

I really don't think there is any reason to hate South Africans in Nigeria, we have problems with Nigerians in South Africa, but for the most part, they have been largely accepted to be a part of our cities (have settled in the cities including some of the townships, married locals etc), sure there is still a lot of skepticism about what most of them are doing in South Africa and i have had a lot of interaction with the Nigerians in South Africa, if truth be told, of the 20 or so that i dealt with, they were not gainfully employed in any sector in South Africa (you can make your own decision on how they sustain themselves). We have also had companies like This Day come to start newspaper business in South Africa and no one had anything against their entry into the media sector in South Africa.

Now, i don't approach every Nigerian thinking he is a scammer because i know that there are many productive Nigerians out there who are doing good and productive things. Nigeria's government is responsible for making sure that all investors that are entering Nigeria's economy abide by a set of minimum employment conditions as well as practice basic human rights etc.

Excuse my last post, i was in an irritable mood. Yes i agree SA's problems are multi-faceted, and are not solely placed on Nigerian's heads, but it is due to a lot of complicated facts. Xenophobia is a serious problem in SA, and Home Affairs need to sort out a solution soon before things get out of control.

I apologize if i attacked Nigeria - can we please continue with the topic at hand.

Inertia, MOST OF THE CRIMES COMMITTED IN SOUTH AFRICAN ARE MADE BY SOUTH AFRICAN THEMSELVES. Even your papers lay claim to this fact.

This made me :lol:

If this weren't the case I'd be worried...of course most of the crimes are committed by South Africans...they far outnumber Nigerians. However, it is a well known fact that there are many Nigerian drug scams etc. around. I personally know a good few people who are somehow involved in cracking down on these people, and strangely enough some people who are actually involved with them.

Very good!:cheers:

Gabon goes WiMax

26 September 2007, ITWeb.co.za

Gabon-based communication provider International Business News (IBN) Corporate has begun rolling out a countrywide WiMax network.

The company hopes to cover most major cities and high-density areas with the WiMax network by 2010, says Michael Mockey, a spokesman for IBN Corporate.

The company launched WiMax services in the capital Libreville, in April, he says.

“Other major cities, like Port-Gentil, will receive WiMax services by 2008 and Franceville by 2009 and 2010.”

Tens of thousands of subscribers are utilising the WiMax technologies in Libreville already, most notably businesses and home users, says Mockey. Thousands more are expected to benefit from this solution, he adds.

US-based Redline Communications, in conjunction with French-based systems integrator Radiall Systems, will roll-out Redline Communications' WiMax solution, RedMAX.

Redline says its RedMAX system is the world's first WiMax Forum certified solution.

Simon Wilder, Redline Communications sales director for Europe and Africa, says Radiall is present in Gabon and will roll-out the technology. "Any technical issues will be serviced by this company."

Space to expand

The RedMAX products will allow IBN Corporate to expand its network over time and introduce new WiMax devices to its network. It will provide the open architecture required to effectively integrate WiMax with other communication technologies, according to a company press release.

“As WiMax solutions evolve, the company will be able to adapt, integrate and upgrade its platform, which will create a cost-effective investment,” explains Wilder.

Radiall Systems also incorporated Redline's RedCONNEX broadband wireless infrastructure products to provide backhaul connections to each of the RedMAX base stations.

The solution will create opportunity for IBN Corporate to realise return on its investment in the network through subscriber returns, adds Wilder.

Mockey notes that a progressive regulatory environment and government policies have created growth in Gabon's wireless broadband arena.

“The regulatory body and government are doing their best to open up spectrum licences to ISPs to bring broadband-based Internet to the country,” he says.

^^ That is certainly good news for Gabon. Nice find matthias.:cheers:

Again South Africa investing more money into Nigeria. SA is now the largest source of foreign direct investment in the telecommunications sector in Nigeria.


MTN, Standard announce huge deal
Inet-Bridge

04 October, 2007

The MTN Group (MTN) and Standard Bank (SBK) have announced a US2 billion loan, which Standard Bank has arranged, for the funding of MTN Nigeria's network infrastructure expansion.

The five-year medium-term debt facility, one of the largest ever telecoms deals on the continent, is to ensure that MTN Nigeria is appropriately capitalised to meet its key strategic objectives of increasing market share and improving coverage and capacity on its network.

The debt raising was originally for US1.2 billion and was split into the Naira equivalent of US840 million in local currency facilities and US360 million of foreign currency facilities. Due to the extensive appetite from the commercial banks, especially the Nigerian banks, the syndication was subscribed by more than 200 per cent. The syndication launched on 2 August and closed on 10 September. The upsized amount of US2 billion is split into the Naira equivalent of US1.6 billion and a US400 million foreign currency facility.

Says Heloise Smith, Director, Telecoms & Media at Standard Bank: "We are particularly pleased to have raised a facility of this magnitude in the prevailing market conditions.

"The success of the transaction is testimony to MTN's standing as a blue chip borrower and Standard Bank's track record in arranging funding for telecoms operators on the continent."

The MTN Group expects the market size in Nigeria to increase to 52 million subscribers by 2011. Earlier this year MTN Nigeria was awarded a 3G licence and expects to roll out 3G to select areas before the end of 2007.

In December 2006, MTN Nigeria acquired 100% of VGC Communications, a private telecommunications operator (PTO). MTN Nigeria has been rolling out an ultra-modern fibre optic transmission network, one of the largest of its kind in Africa.

Spanning the length and breadth of the country, once completed, this network is expected to ensure a dramatic improvement in the quality of service.

Says MTN Group President and CEO, Mr Phuthuma Nhleko: "We are pleased to have secured this facility which will enable us to provide a quality network, giving MTN Nigeria a competitive advantage and also ensuring that we continue to meet the increasing demand for our services.

"Over the years we have demonstrated our confidence in the Nigerian market through infrastructure investment, spending over R3,6 billion in capital expenditure in 2006.

"Our ongoing investment in Nigeria remains the largest foreign direct investment in the country's telecommunications industry."

Nhleko adds that MTN Nigeria's overriding mission is to be a catalyst for Nigeria's economic growth and development, helping to unleash Nigeria's strong developmental potential not only through the provision of world class communications, but also through innovative and sustainable corporate social responsibility initiatives.

"This deal is another step in the long journey that Standard Bank and MTN have travelled together. We have a relationship spanning more than 13 years and have partnered MTN not only in South Africa but also in many of the African countries in which it has expanded, including Nigeria, Uganda, Rwanda, Cameroon and Zambia," says Smith.

Standard Bank's Head of Investment Banking for Africa, Tim Thackwray, points to the importance of Standard Bank's local presence in winning this mandate.

"The fact that we have just finalised our merger with IBTC Chartered Bank and have now become a significant player in the Nigerian market further strengthens our position."

Standard Bank has been intimately involved in MTN's expansion in Nigeria. It assisted in arranging a US450 million syndicated loan for MTN Group, which was partially used to fund the original licence payment when MTN entered the Nigerian market in 2001.

Standard Bank also arranged MTN Nigeria's Naira bridging finance facility in 2002, as well as co-arranged a US395 million loan in 2003. In 2004, Standard Bank raised a further US200 million for the company and in 2006, assisted with restructuring MTN Nigeria's funding arrangements.

MTN Nigeria is the largest mobile communications operator in Nigeria with 14 million subscribers and a market share of more than 44 per cent, as at June 2007.

It has invested in excess of US3,1 billion in building its mobile telecoms network, which currently covers some 99,7 million people and more than 561 069sq km.

MTN Nigeria is today the largest operating company in the MTN stable in terms of number of subscribers, having surpassed the South African operations early in 2007.

Noble Energy finds oil and gas offshore Equatorial Guinea:
http://www.rigzone.com/news/article.asp?a_id=51041

And the very next day, they hit gas offshore Cameroon:
http://www.rigzone.com/news/article.asp?a_id=51109

Between this, Nigeria's oil, and the recent discoveries offshore Ghana, it's starting to sound like there might be a lot of oil and gas off the entire West African shore.

Funny that even tho South African's are so hated in Nigeria, they play such a large role in the economy. Ironic i think :|

South Africa is tapping into lucrative markets in Nigeria. It's like western investments in Africa, there are emerging markets in Africa so it is profitable for Western countries to invest in Africa.

Note that the Largest areas of investments in Nigeria are markets that were already booming prior to foreign investments, with the exception of retail developments. Banking, Telecommunications are profitable sectors for South African companies. Globacom is now the fastest growing company in Middle/East and Africa and is arguably the most advanced in Nigeria, yet the company doesn't even have operations in business viable markets like Egypt, Saudi Arabia and South Africa. MTN Nigeria is now more profitable than MTN South Africa, which tells you alot about the Nigerian market and economy.

South African investments will continue for decades to come, simply because the Nigerian market is profitable. To say that the market is fueled by foreign investments however, would be wrong, The stats show that. I.e make reference to the Nigerian Banking sector.:lol: :lol: :lol: :lol: :lol: :lol:

It is ironic that South African companies like Broll, MTN, Shoprite, find Nigeria a sanctuary, yet people like you despise the country so much.

Let's face the fact, Nigerians don't hate South Africans. and 99% of South Africans that hate Nigerians are all on this forum. Naturally, because this is a construction forum, and construction and urban development is a competitive sector. There's no hatred. :tiasd: This is what we are all whinnying about

MTN Nigeria is now more profitable than MTN South Africa, which tells you alot about the Nigerian market and economy.

Unfortunately this statement is completely untrue. The only thing that MTN Nigeria has overtaken from MTN SA is subscriber numbers, which is completely understandable, considering the Nigerian population is more than double the size of SA's, and SA's mobile penetration is almost 90%.
The South African market is still the most profitable, contributing 42.6% to revenue and with an ARPU of USD21, compared to Nigeria's USD16.

South African investments will continue for decades to come, simply because the Nigerian market is profitable. To say that the market is fueled by foreign investments however, would be wrong, The stats show that. I.e make reference to the Nigerian Banking sector.

I am to believe that a large portion of the Nigerian economy is fueled by foreign direct investment, mostly coming from the oil sector. How much does the banking sector contribute to the economy?

It is ironic that South African companies like Broll, MTN, Shoprite, find Nigeria a sanctuary, yet people like you despise the country so much.

Let's face the fact, Nigerians don't hate South Africans. and 99% of South Africans that hate Nigerians are all on this forum.

I find this comment arrogant and without backing or substantiation. Never once have i stated that i dislike Nigeria, and i would appreciate it if you could prove me otherwise. The same goes for other SA forumers, i don't recall anyone ever saying that they 'hate' Nigeria. It seems to me that it's something the Nigerian forumers conjured up to be able to bash the SA forumers with something other than being white. Quite deplorable, and without proper evidence of your allegations, something that again shows the Nigerian forumers in a bad light, not something that you guys can afford.

yeah, blah blah blah blah, the same ol' nigeria and south africa bullshit. "i am better than u...... no i am richer than u" SO WHAT!!! bickering like dogs. GROW UP

Inertia, the last paragraph have been more than revealing to me again. It is in itself full of hypocrisy and contradiction....but I don´t expect anything other than that!
Honestly said, I have never ever in my life met such narrow-minded and hypocritical people like you. ( a few people that seem to be kind, though).

First I thought the SA forumers on SSC are simply strange but after visiting some other forums dominated by SA and reading what people had to say, I felt dreadfully disgusted, to put it mildly.

PS: I curse that Nigeria is not already pumping 5 million barrels of oil a day (projected for 2015, btw), at an oil price of $80 dollars a barrel, this would bring in enormous sums of money, much more than now....add to this the LNG gas exports...all this would bring in more dollars and help to accumulate more foreign exchange resserves which could be partly and cunningly reinvested into aquisition of foreign companies just like those in SA (Russia, China and Gulf Arab countries are my points of reference in this regard). $200 Billion would suffice to make you people stand up in awe and it could serve as an eye-opener to you who is really the BOSS in Africa.

the BOSS in Africa.

Yep Nigeria is the "boss" of Africa, haha. Better not say bad things about Nigeria or SA might get fired. :lol:

Look man i honestly don't care wot u think abt SA or the SA forumers, u and ur fellow Nigerians lack any credibility and every petty insult you say is completely disregarded by me and probably all the other forumers. So please babble on while ppl concerned with this thread post topics abt African Businees and Economic News, like I did.

Ciao

Yep Nigeria is the "boss" of Africa, haha. Better not say bad things about Nigeria or SA might get fired. :lol:

Look man i honestly don't care wot u think abt SA or the SA forumers, u and ur fellow Nigerians lack any credibility and every petty insult you say is completely disregarded by me and probably all the other forumers. So please babble on while ppl concerned with this thread post topics abt African Businees and Economic News, like I did.

Ciao

If what you say is so, why do you repeatedly comment in the African forum when you have your own?

Look man i honestly don't care wot u think abt SA or the SA forumers, u and ur fellow Nigerians lack any credibility and every petty insult you say is completely disregarded by me and probably all the other forumers. So please babble on while ppl concerned with this thread post topics abt African Businees and Economic News, like I did.

Ciao

The same applies to me, too. So simply F**k off!:wave:

Btw, Don´t you have an own forum or do you lack projects and topics to talk about in South Africa?

Again South Africa investing more money into Nigeria. SA is now the largest source of foreign direct investment in the telecommunications sector in Nigeria.


MTN, Standard announce huge deal
Inet-Bridge

04 October, 2007

The MTN Group (MTN) and Standard Bank (SBK) have announced a US2 billion loan, which Standard Bank has arranged, for the funding of MTN Nigeria's network infrastructure expansion.

The five-year medium-term debt facility, one of the largest ever telecoms deals on the continent, is to ensure that MTN Nigeria is appropriately capitalised to meet its key strategic objectives of increasing market share and improving coverage and capacity on its network.

The debt raising was originally for US1.2 billion and was split into the Naira equivalent of US840 million in local currency facilities and US360 million of foreign currency facilities. Due to the extensive appetite from the commercial banks, especially the Nigerian banks, the syndication was subscribed by more than 200 per cent. The syndication launched on 2 August and closed on 10 September. The upsized amount of US2 billion is split into the Naira equivalent of US1.6 billion and a US400 million foreign currency facility.

Says Heloise Smith, Director, Telecoms & Media at Standard Bank: "We are particularly pleased to have raised a facility of this magnitude in the prevailing market conditions.

"The success of the transaction is testimony to MTN's standing as a blue chip borrower and Standard Bank's track record in arranging funding for telecoms operators on the continent."

The MTN Group expects the market size in Nigeria to increase to 52 million subscribers by 2011. Earlier this year MTN Nigeria was awarded a 3G licence and expects to roll out 3G to select areas before the end of 2007.

In December 2006, MTN Nigeria acquired 100% of VGC Communications, a private telecommunications operator (PTO). MTN Nigeria has been rolling out an ultra-modern fibre optic transmission network, one of the largest of its kind in Africa.

Spanning the length and breadth of the country, once completed, this network is expected to ensure a dramatic improvement in the quality of service.

Says MTN Group President and CEO, Mr Phuthuma Nhleko: "We are pleased to have secured this facility which will enable us to provide a quality network, giving MTN Nigeria a competitive advantage and also ensuring that we continue to meet the increasing demand for our services.

"Over the years we have demonstrated our confidence in the Nigerian market through infrastructure investment, spending over R3,6 billion in capital expenditure in 2006.

"Our ongoing investment in Nigeria remains the largest foreign direct investment in the country's telecommunications industry."

Nhleko adds that MTN Nigeria's overriding mission is to be a catalyst for Nigeria's economic growth and development, helping to unleash Nigeria's strong developmental potential not only through the provision of world class communications, but also through innovative and sustainable corporate social responsibility initiatives.

"This deal is another step in the long journey that Standard Bank and MTN have travelled together. We have a relationship spanning more than 13 years and have partnered MTN not only in South Africa but also in many of the African countries in which it has expanded, including Nigeria, Uganda, Rwanda, Cameroon and Zambia," says Smith.

Standard Bank's Head of Investment Banking for Africa, Tim Thackwray, points to the importance of Standard Bank's local presence in winning this mandate.

"The fact that we have just finalised our merger with IBTC Chartered Bank and have now become a significant player in the Nigerian market further strengthens our position."

Standard Bank has been intimately involved in MTN's expansion in Nigeria. It assisted in arranging a US450 million syndicated loan for MTN Group, which was partially used to fund the original licence payment when MTN entered the Nigerian market in 2001.

Standard Bank also arranged MTN Nigeria's Naira bridging finance facility in 2002, as well as co-arranged a US395 million loan in 2003. In 2004, Standard Bank raised a further US200 million for the company and in 2006, assisted with restructuring MTN Nigeria's funding arrangements.

MTN Nigeria is the largest mobile communications operator in Nigeria with 14 million subscribers and a market share of more than 44 per cent, as at June 2007.

It has invested in excess of US3,1 billion in building its mobile telecoms network, which currently covers some 99,7 million people and more than 561 069sq km.

MTN Nigeria is today the largest operating company in the MTN stable in terms of number of subscribers, having surpassed the South African operations early in 2007.

more restrictions should be placed n SA investment in naija. too much of it takes on colonial systems. SA needs nigeria to prosper, not the other way around. we should also get access to SA economy, as we allow them to get into our country

If what you say is so, why do you repeatedly comment in the African forum when you have your own?

Incase you didn't actually read the article before posting (ahem), it was about SA business in Nigeria, which involves Nigeria and SA, hence it was posted in the African Section. The nigerian forumers decided to throw insults when they saw it was something to do with SA, not my problem. I will continue to post topics, discussions, threads and posts that are relevant to Africa, whether the other (nigerian) forumers like it or not.

China's CNPC invests in oil refinery in Chad

10-06-2007, 16h27
BEIJING (AFP)


China's largest oil producer, China National Petroleum Corp (CNPC), has agreed to invest in a joint venture oil refinery near the capital of Chad, state media reported Saturday.

A subsidiary of CNPC, the CNPC Service and Engineering Ltd, has signed an agreement with the central African country's government to jointly invest in a refinery company to the north of the capital N'Djamena, Xinhua news agency reported, quoting a company announcement.

The CNPC subsidiary will take charge of the construction and will use Chinese design, manufacturing standards and equipment in the refinery, the report said.

CNPC did not give financial details of the investment nor did it indicate when the project will start.

Chad has 13 oilfields but imports all its refined oil products, the company said earlier.

Chad, which has a population of about 9.8 million, is an increasingly important oil exporter, while China is building a major presence in Africa, particularly aiming to guarantee supplies of oil and other commodities for its booming economy.

Since its first cooperation on oil exploration with Sudan in 1996, China had invested in 27 major oil and natural gas projects in 14 African countries by the end of 2005 including Sudan, Algeria, Angola and Nigeria, Xinhua said.

Japan Finding It Very Hard to Tap Africa for Oil, Gas
by Mari Iwata Dow Jones Newswires Thursday, October 04, 2007


TOKYO Oct. 4, 2007 (Dow Jones Newswires)

Japan's government has sent delegations to African countries such as Angola and Madagascar in search of opportunities for exploration, development and production of oil and natural gas as part of efforts to increase its energy stakes while diversifying its sources of energy supplies.

But getting into the upstream businesses there seems mostly difficult due to intensifying competition with other countries, especially China and many other countries, said a senior official at Japan's Ministry of Economy, Trade and Industry.

"I went to Angola in early September to gauge possibilities of getting into the upstream businesses," said Shin Hosaka, director of the petroleum and natural gas division for the Agency for Natural Resources and Energy, a unit of METI.

But "it seems hard to make room for us, as there are a lot of people coming from across the world and Angola has set very high conditions," Hosaka said and added that he found the conditions difficult to accept for Japanese companies.
:cheers:

METI's delegation met with the country's industry minister, Joaquim David, and senior officials at state-owned oil company Sonangol, said Hosaka.

Angola is the second-largest crude oil exporter to China, the world's most populous nation, and China has been engaged in oil business there on very favorable terms for the African country, he noted,

He didn't elaborate, but admitted this is a seller's market.

Nevertheless, METI will notify Japanese oil companies of Angola's tender for blocks scheduled in December, Hosaka said.

Resource-poor Japan imports nearly all of its energy needs. The country imported 4.25 million barrels a day of crude oil in 2006, with roughly 90% coming from the Middle East. Angola accounted for less than 1%, according to data from METI.

To reduce its heavy dependence on foreign oil, especially from the Middle East, METI set a target last year of increasing crude imports from projects fully or partially owned by Japanese companies to 40% of all oil imports by 2030 from the current 15%.

Angola, the Organization of Petroleum Exporting Countries' newest member, currently produces about 1.7 million barrels a day of crude.

China imported 3.33 million barrels a day of crude oil in the January-August period, with 14% coming from Angola, data from China's General Administration of Customs showed.

METI has sent delegations to some African energy producing countries in recent years such as Madagascar, Mauritania and Niger, according to Hosaka.

"There are some countries that seem more accessible like Equatorial Guinea and Mauritania," but there have been no talks so far of concrete plans, said Hosaka.

South Africa seeks greater ties with Nigeria

The South African government has expressed the desireto forge closer economic, social and politicalpartnership with Nigeria as means of boosting Africa's development agenda.

The South African High Commissioner in Nigeria, Mr. Bamguzi Stifigo who made the remark during a courtesy visit to the leadership of the Nigerian Labour Congress (NLC) in Abuja over the weekend, also spoke of plans to extend technical assistance to NLC to encourage efforts at instituting mechanism for social dialogue in the country.

Against the background of the cordial economic and trade agreements between Nigeria and South Africa which is now about 8 years old, Stifigo said the two countries can greatly lift the African continent from its woos by fostering a viable partnership. "If Nigeria and South Africa can decide to work more closely, most of the problems confronting Africa today will be a thing of the past", he said.

The envoy said his country is determined more than ever before to make it happen, adding that, "we are committed to working with corporate Nigeria in efforts to achieve economic revival of the African continent". He said the way forward is for both countries to try and translate friendly diplomatic ties into concreteeconomic and social gains for the benefit of theordinary people."We all know that diplomacy on its own is not enough unless it becomes economic.

Whatever we do at thediplomatic level, let it be translated into food onthe table of the ordinary people", he said.Stifigo noted that South Africa and Nigeria haveendeavoured over the years to create conduciveconditions for proper business exchanges througheconomic agreements, resulting in some companiesopening operations across borders.He spoke of plans to encourage greater synergy betweenthe Congress of South African Trade Unions (COSATU)and NLC so that they can assist in fashioning outways of deepening socio-economic transformation inboth countries.He said the development of country depends to a largeextent on the quality of contributions of its labourforce.According to him, Nigeria and South Africa are atvarious stages of economic and social transformation,adding that while both countries shares commonaffinity as a democratic countries, South Africa has aunique history of having the colonizers and thecolonized occupying the same territory.The NLC President Comrade Abdulwaheed Omar whilereceiving the team in his office expressedappreciation for the assistance given to the country'slabour movement by the South African government,especially during the struggle for the enthronement ofdemocracy in the land.

A big up for Senegal:okay: , this will be the beginning of an UAE- Senegal relationship!:cheers:

DP World, Senegal sign $700m Dakar port deal

BY A STAFF REPORTER

9 October 2007


DAKAR (Senegal) — A signing ceremony attended yesterday by the chairman of DP World and holding company Dubai World, Sultan Ahmed bin Sulayem, and Senegal Prime Minister Cheikh Hadjibou Soumaré, formally handed responsibility for operating and developing Senegal's busiest container terminal to DP World.

The final agreement follows the announcement of DP World as the successful bidder of the international tender in June.

DP World plans to contribute more than 500 million euros ($709 million) through direct investment and participating shareholding by the Port Authority of Dakar, which is at no direct capital cost. Those attending the ceremony included Jamal Majid bin Thaniah, Vice Chairman of DP World and Group CEO of Ports & Free Zones World (P&FZ World), the parent company of DP World and sister business park development company, Economic Zones World (EZW), Senegal's Minister of Maritime Economy Souleymane Ndéné Ndiaye and Director-General of the Port Autonome de Dakar Bara Sady.


Source: http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/business/2007/October/business_October184.xml&section=business&col=

Qatar firm to invest $1.5billion in Zimbabwe


Published: October 08, 2007, 23:16

Dubai: A company run by a member of Qatar's ruling family is investing around $1.5 billion in Zimbabwe, to build an oil refinery and a hotel, and says it is not concerned about the country's political and economic crisis.

Venessia Petroleum plans to build a 120,000 barrels-per-day refinery in Harare, while a sister company will develop a five-star hotel in the Zimbabwean capital, the company's general manager Jawhar Zaidi said yesterday.

President Robert Mugabe, shunned by the West over policies such as the seizure of white-owned farms to resettle black people, is courting Asian and Muslim governments to invest in his country, where the economy is on the brink of collapse.

Political situation

"We have been in the region for a while and we're not worried about the political situation," Zaidi told Reuters over telephone from Doha.

Consultants would start designing the refinery, costing as much as $1.5 billion, by the end of the year once a feasibility study was completed, he said.

"We would look to import crude from Qatar or another Middle Eastern country," Zaidi said.

Gas reserves

Qatar has the world's third largest natural gas reserves and is a member of the Organisation of the Petroleum Exporting Countries (OPEC).

Venessia Petroleum is chaired by Abdul Aziz Bin Mohammad Bin Jabor Al Thani, a member of Qatar's ruling family, Zaidi said.

The company, which operates overseas as Venessia General Trading, was set up as part of the government's plans to help develop Qatar's energy sector.

Venessia General Trading is investing in hotels and oil storage facilities in the southern African country of Malawi, Zaidi said.

The company has permission to build a five-star hotel in Harare for about $136 million, he said.

The Zimbabwe government has proposed a bill to transfer majority ownership of foreign companies to Zimbabweans.

Source: http://www.gulfnews.com/business/Oil_and_Gas/10159037.html

Funny that even tho South African's are so hated in Nigeria, they play such a large role in the economy. Ironic i think :|

Nigerians don't hate South Africans, most Nigerians in the country don't have time to think about SA. I'm not trying to hate I'm just speaking the truth. Props to SA for investing in the country though.

SA firms urged to keep ahead of international peers in African investment drive

By: Mariaan Olivier
Published: 8 Oct 07 - 13:08
The South African business fraternity has been warned not to miss out on investment opportunities in Africa, as nonAfrican countries take an increasingly keen interest in various business prospects on the continent.

Trade and Industry Minister Mandisi Mpahlwa said that, while South Africa was still the largest investor in Africa, local companies could not afford being so satisfied with their position that they were not making efforts to improve on it.

“I actually wish for South Africa to be toppled from that position, so that we don’t rest on our laurels….we can see that other countries are now seeing Africa as an important place for business,” he said on Monday, in Johannesburg.

This was a sentiment that the New Partnership for Africa’s Development (Nepad) Business Foundation chairperson Reuel Khoza shared.

Khoza, who was speaking at a two-day Nepad projects conference, said that South African companies were at risk of being “shouldered out” by countries, such as China and India, in the rush for business in Africa.

Africa’s economic growth currently stood at more than 5% a year of gross domestic product, and it was expected to continue its upward trend. This would increase the scope for commercial opportunities.

Khoza said that while Nepad recognised that investment by China could ease the burden of infrastructural pressures in the continents’ economies, Africa should make sure that it was not being dictated.
'Africa cannot allow the nineteenth century scramble for Africa to be repeated'

"Africa had to provide its own terms of reference," he said, adding that the continent could not allow the nineteenth century scramble for Africa to be repeated.

Nepad, which was striving to build an entirely self-sustaining Africa, had the potential to be the continent’s engine for growth and economic development, he said.

Mphalwa lauded Nepad as “indigenous, long term, continental, and becoming the basis on which the world has to engage with the continent”, but urged Africa to focus its efforts on strengthening regional cooperation between the economies for the initiative to succeed.

Enhanced regional cooperation would improve its chances of attracting investments that would assist it on a path of industrialisation, which was key to the continent becoming less reliant on commodity exports.

“Foreign direct investment in Africa is at its highest level, but as long as we depend on commodity exports, it cannot be sustained,” he stated.

http://www.engineeringnews.co.za/article.php?a_id=118534

more restrictions should be placed n SA investment in naija. too much of it takes on colonial systems. SA needs nigeria to prosper, not the other way around. we should also get access to SA economy, as we allow them to get into our country

Foreign investment is a good thing lol...be happy! I honestly don't see what the big fuss is about South Africa vs. Nigeria. They're both really awesome countries.

Here's a great example of why governments in Africa *need* to pay a lot of attention to agricultural issues! All the attention to oil, cement plants, mines and other such things will be useless if you can't feed the people.

http://www.nytimes.com/2007/10/10/world/africa/10rice.html

October 10, 2007
In Africa, Prosperity From Seeds Falls Short
By CELIA W. DUGGER

HERMAKONO, Guinea — The seeds are a marvel, producing bountiful, aromatic rice crops resistant to drought, pests and disease. But a decade after their introduction, they have spread to only a tiny fraction of the land here in West Africa where they could help millions of farming families escape poverty.

At a time when philanthropists like Bill Gates have become entranced by the possibility of a Green Revolution for Africa, the New Rices for Africa, as scientists dubbed the wonder seeds, offer a clear warning. Even the most promising new crop varieties will not by themselves bring the plentiful harvests that can end poverty. New ways to get seeds into the hands of farmers are needed, as well as broader investment in the basic ingredients of a farm economy: roads, credit and farmer education, among others.

Developed with financing from wealthy countries and private foundations, the New Rices for Africa, or Nericas, are unpatented and freely cultivable by anyone. Yet there is a severe shortage of them in a region where both the private and agricultural sectors are woefully undeveloped.

“This is a story repeated thousands of times all over Africa,” said Joseph Devries, who heads seed development for the Rockefeller and Bill and Melinda Gates foundations’ joint effort to jump-start farm