African Business and Economy News [Archive] - Page 4

DanteXavier

June 30th, 2008, 06:41 AM

Kenya: Port expansion to give economy a major boost

Finally, the Port of Mombasa will be joining the big league in the world when it starts handling the larger ships that are now taking over the shipping business.
Currently, the port handles smaller ships that are slowly being phased out in favour of the larger ones called post Panamax, with bigger capacities.

Since many fleets around the world are converting to post Panamax ships with over 6,000 TEU (Twenty-foot Equivalent Units — shipping container), ports are also reassessing how they can fit in the cut-throat business.

The expansion of the port of Mombasa could not therefore have come at a better time.

The port will now claim a niche in the maritime industry.

Although port users will have to wait until 2013, when the first berth of the planned expansion is completed, a sigh of relief is slowly creeping in among the business community.

The volume of trade is expected to increase tremendously once the project, with funding from the Japanese government is completed, a decade from now.

It is expected to address constant complaints from port users of major delays.

The flow of containers was not in tandem with the increasing trade and demand for services.

Although some shippers had threatened to go through the Port of Dar es Salaam in Tanzania, Mombasa still remained the favoured choice because of its location, technological advancement and bigger capacity.

But most importantly, the Kenya Ports Authority (KPA), which is currently serving as a feeder port, will have a new status with the expansion, which involves the construction of a second container terminal.

The allocation of Sh20 billion in this year’s Budget by Finance Minister Amos Kimunya removes doubts about the Government’s commitment to the expansion.

The Japanese Government will spend Sh16.2 billion in form of a loan to Kenya, which is expected to pump in about Sh4 billion for the project.

The KPA head of operations, Captain Twalib Khamis, said the project was a reality and that proper work on the terminal is set to start next year.

Enlarge channel

“The first berth is expected to be ready in five years, while the whole project will be finalised in 2020. It is a very big and complicated project that will begin with the enlargement of the 12 kilometre channel from Likoni (Kilindini wharf) to the end in Port Reitz.

“But the main terminal will be built in Port Reitz on land that will be reclaimed with soil from the dredged material,” he said.

Once the work is complete, said Capt Khamis, the Port of Mombasa will be the hub for eastern Africa and the Eastern Indian Ocean region.

Some of the countries that will rely on the port for import and export of cargo are Uganda, Democratic Republic of Congo, Rwanda, Burundi and Kenya.

He said there was a big demand for services which had led to congestion of the port that currently handles between 400,000 and 450,000 containers a year.

This translates to a total of 15.9 million tonnes last year, a rise of more than 1.5 million tonnes or 10.5 per cent compared to 14.4 million tonnes handled in 2006.

“This would help decongest the port and increase the capacity of KPA to handle about 1 million containers per year.

“The project will have a big multiplier effect because it will open up the western part of Mombasa, mainly in Changamwe through the expansion of the road network,” said the captain.

Port users have welcomed the move, saying it would increase the volume of trade and decongest the port.

But they are also cautious, saying they hoped the project was a reality and not the usual talk from the Government.

Mr Evans Ochieng, the proprietor of Tohel Agencies, a clearing and forwarding company mainly dealing in the import of cars, supported the expansion plan saying it would minimise delays at the Port.

“It’s a wise idea that is long overdue but we hope we will also be able to deal directly with the port instead of going through Container Freight Stations (CFSs) as this is the only way delays can be dealt with,” he said.

Mr Ochieng said currently, the cost of doing business through the port was very high because of the steep charges they incurred through delays in clearing their goods when they pass through the CFSs.

He said it was different when they dealt directly with the port and suggested that the old system be reinvented to have a one-stop operation system.

“Car importers for instance, have to contend with the delays because most CFSs do not have the capacity to clear goods fast enough and therefore, forcing us to go beyond the requisite 10 days for goods to stay at a station before starting to pay extra storage charges.

Expecting relief

“The system of dealing with CFSs ... started about two years ago and is inconveniencing us and that is why if the expansion project is realised, we will be expecting some relief,” said Mr Ochieng.

Kenya International Freight and Warehousing Association (Kifwa) Mombasa branch chairman Peter Otieno said the Kenyan economy was bound to take forward strides once the modernisation project was complete.

He said employment would be created because there would be extra cargo to be handled.

“It is also likely that Mombasa will not only be a handling port but a transshipment hub because the port would handle bigger vessels that currently do not call at Mombasa Port,” he said.

http://www.nationmedia.com/dailynation/nmgcontententry.asp?category_id=39&newsid=125951

DanteXavier

June 30th, 2008, 06:45 AM

Botswana firms upbeat on economy, inflation a worry - survey

JOHANNESBURG (Reuters) - Botswana's business sector remains optimistic about the economy, but is worried over the deteriorating inflation outlook, a survey showed on Tuesday.

The Bank of Botswana's Business Expectations Survey (BES) showed industry expected economic growth to average 5.9 percent in 2007/2008 and accelerate to 6.4 percent in 2008/2009.

"The survey suggests that there remains considerable confidence that the increased momentum in the domestic economy can be maintained," the central bank said in a statement.

Overall business confidence however, stood at 71 percent, down from 80 percent in the previous survey.

"The slight decline in confidence is consistent with an outlook of a faster rate of increase in prices and other supply-side constraints, including shortages of inputs," the Bank of Botswana said.

In early June the bank said electricity shortages would help to cut economic growth after a rise of 6.1 percent in 2006/2007.

Botswana imports some 72 percent of its power from South Africa's state-owned Eskom, which is battling to meet domestic demand.

Inflation was seen averaging 9.8 percent for 2008, and average 10.2 percent in 2009.

"There is particular concern about likely upward pressures on wages and transport costs. Expectations of further monetary tightening over the next twelve months have also increased," the central bank said.

The bank increased its key rate by 50 basis points to 15.5 percent last week and warned that inflation would maintain an upward trajectory in the short term.

The BES also showed anticipated improvements in key indicators, in particular production levels and volume of sales as well as profitability.

"This may reflect anticipated growth in domestic demand due to accelerating government investment and increased consumer spending following recent salary increases," the bank said.

Government, the largest employer in the country, increased wages by 15 percent in April.

The survey is conducted twice a year among 100 businesses in sectors such as mining, agriculture manufacturing, construction and business services.

http://africa.reuters.com/business/news/usnBAN438518.html

You are to blame

June 30th, 2008, 08:11 AM

Dante, I love all the recent good economic news.

DanteXavier

July 3rd, 2008, 07:09 AM

Dante, I love all the recent good economic news.

As do I! Here is some more:

IMF says Kenya's economy to grow at 4% in 2008

NAIROBI, July 2 (Xinhua) -- Kenya's economy is set to grow by some 4 percent in 2008/2009 in line with government projections, the International Monetary Fund (IMF) review mission said on Wednesday.

An IMF mission which visited the country from June 23-July 2 said the economy which suffered during the post-election crisis is regaining footing after the formation of the grand coalition government.

"While a full recovery in some sectors is likely to take time, including in tourism, the economy as a whole is already rebounding. Overall, we expect GDP to grow by some 4 percent in 2008-a respectable result given the events of the first quarter," the IMF mission said in a statement.

The IMF mission led by Thomas Krueger said the fiscal deficit in 2007/2008 (July/June) is likely to have remained within the original budget target.

"With buoyant domestic revenues, this allowed some additional expenditure to meet new spending needs emerging in the wake of the political turbulence. Looking ahead, it will be important that fiscal continues to safeguard macroeconomic stability," it said.

The visiting Fund said the economic growth in 2007 reached 7 percent, the highest growth in over two decades buoyed by sound macroeconomic policies and progress on structural reforms and a favorable external environment. "The strong momentum was interrupted, however, by the post-election turbulence in early 2008. This left a severe human toll and its economic effects were evident not only in Kenya, where tourism, agriculture, and transport were particularly affected, but also in the region as transport links were interrupted," said the team.

The mission said it discussed the case for keeping the 2008/2009 deficit (in relation to GDP) below the level in the previous year, thereby stabilizing public debt in relation to GDP. "With a solid domestic revenue base, this should be achievable even while addressing recovery-related spending needs and accommodating higher outlays for much needed infrastructure projects," the statement said.

The Fund's team said the soaring world prices for food, fuel, and fertilizer pose new challenges for policymakers, not just in Kenya but also in most other countries.

It said the government has already announced several steps aimed at alleviating the near-term impact.

"We also discussed the possibility of designing measures more specifically targeted at the poorest segments of the population and, in the case of farmers, at improving access to credit," the statement said.

"It is important that these measures do not undermine macroeconomic stability or distort prices in a way that would hamper a longer-run supply response-an area where many see significant potential for Kenya," the mission said.

The IMF team supported the Central Bank of Kenya's recent actions to tighten monetary policy, noting that the country's apexbank needs to be prepared to take further steps "if this proves necessary to forestall second-round effects of rising food and energy prices on overall inflation". The IMF mission also lauded the government's Vision 2030 which it said sets out rightly ambitious longer-run objectives with Kenya aiming to reach middle-income status.

The team said achieving these objectives will require further structural reforms but also public spending to address crucial supply bottlenecks.

"The mission was encouraged by the widespread recognition that this needs to take place within a framework that has the private sector as the engine of growth and preserves macroeconomic stability," the statement said.

"Strong growth will also require a highly competitive tradable sector. The mission agrees that improving competitiveness depends foremost on addressing supply bottlenecks and structural reforms -with progress all the more urgent in light of the strong exchange rate."

The IMF mission said much has already been achieved in recent years on structural reforms, including with improvements in public procurement and the streamlining of business licensing requirements.

http://news.xinhuanet.com/english/2008-07/03/content_8478561.htm

DanteXavier

July 3rd, 2008, 07:12 AM

Cape Verde: IMF says it is impressed with Cape Verdean economy

Washington, United States, 2 July – Cape Verde has had “impressive” economic performance, but should maintain a prudent fiscal policy to ensure its capacity to resist shocks, the International Monetary Fund (IMF) said Monday.

The IMF executive council Monday completed an assessment of the Cape Verdean economy for the last three years, under the terms of the Policy Support Instrument (PSI), a programme designed by the IMF for low income countries and island nations that may not need or want financial aid, but continue to seek “advice, inspection and support from the IMF for their policies.”

In Cape Verde’s case, the PSI was drawn up to “strengthen the sustainability of growth and development, maintaining a stable macroeconomic climate and to move ahead with structural reforms.”

The deputy administrative director and interim president of the IMF, Takatoshi Kato, praised "the impressive economic performance of Cape Verde over the last few years, which reflects a prudent macroeconomic administration and economic reforms.”

"The continuation of a prudent fiscal policy will be critical to ensure interchange and strengthen resistance to shocks,” Kato said noting that, under the terms of the programme, Cape Verde fulfilled its internal debt commitments two years ahead of schedule.

Takatoshi Kato said that the Cape Verde export base remained small and the the current boom in the tourism sector should be used as a “window of opportunity to facilitate development of the private sector and increase economic diversification.”

"Diversifying the economy remains an important strategic objective to increase resistance to shocks,” he said. (macauhub)

http://www.macauhub.com.mo/en/news.php?ID=5644

DanteXavier

July 3rd, 2008, 07:17 AM

Cape Verde: Cape Verde may be gateway for Brazil to Africa and Europe, Brazilian foreign minister says

Praia, Cape Verde, 30 June – Brazil’s foreign affairs minister, Celso Amorim said Friday in Praia that Cape Verde could be a gateway for entry of Brazilian products into the African market as well as into European countries.

Relocating Brazilian companies to Cape Verde would be an opportunity to reach African markets, but also “an opportunity to reach developed countries (Europe) where Cape Verde is preferential and Brazil does not have that same status,” he said.

Amorim was speaking after a meeting with his Cape Verdean counterpart, Victor Borges, as part of a one-day visit to Cape Verde, during which he opened a Brazilian Studies Centre and a Training Centre in the capital, which were both funded by Brazil.

The two ministers also signed a memorandum of understanding, according to which Brasília and Praia made a commitment to hold regular meetings to discuss and schedule cooperation for development, political dialogue and economic and business cooperation.

As part of the visit, Amorim and Borges also signed cooperation protocols to create a Breast milk Bank in Cape Verde, and to support primary Healthcare, the archipelago’s Employment and *Professional Training Institute and training of workers of the Professional Training Centre opened Monday. (macauhub)

http://www.macauhub.com.mo/en/news.php?ID=5628

DanteXavier

July 3rd, 2008, 07:20 AM

Angola: Economic growth will be less “impressive” but better for employment and diversification - BPI

Lisbon, Portugal, 26 June – The slowdown of Angolan economic growth in 2009, to less “impressive” levels than those of the last few years, is beneficial to the country’s development, allowing for diversification and Job creation, according to analysts from Portuguese bank BPI.

The development of the oil sector, “has ahd a direct restricted imapct on the traditional Angolan economy,” according to the Angola report, published Wednesday by the Office of Economic and Financial Studies of BPI.

Stabilisation of oil production, which over the last few years had been increasing significantly, is the main reason for the slowdown forecast by the Organisation for Economic Cooperation and Development (OECD), and the World Bank.

The World Bank this month revised its figures for Angola, now projecting growth of 25.4 percent this year and a slowdown to 6.7 percent in 2009.

In May the OECD forecast a slowdown of the Angolan economy to 11.5 percent this year and 5.1 percent in 2009.

According to the OECD there will be a slowdown in growth of oil production (…) assuming the country meets its new oil production quota set by OPEC (Organization of Petroleum Exporting Countries), of 1.9 million barrels per day.”

In the report published Wednesday, the BPI said the OECD’s figures were “pessimistic,” despite agreeing that the country’s economic growth had for many years being based on oil, a sector which is getting close to its production potential.

Slower growth, the BPI analysts said, is “more diversified and creates employment,” and therefore, “more favourable for Angola, despite being less impressive.”

The sustainability of the Angolan economy, which is its main challenge, requires precisely a capacity to develop non-oil sectors and job creation, ensuring better distribution of wealth and providing sustained poverty relief,” said analysts Cristina Casalinho, Paula Carvalho and Susana de Jesus Santos.

Portuguese bank BPI controls Banco Fomento, which is Angola's biggest private bank. (macauhub)

http://www.macauhub.com.mo/en/news.php?ID=5610

DanteXavier

July 3rd, 2008, 07:22 AM

Tanzanian Economic Growth to Accelerate Through 2011

By Sarah McGregor

June 12 (Bloomberg) -- Economic growth in Tanzania, Africa's third-biggest gold producer, is expected to accelerate through 2011, said Finance Minister Mustafa Mkulo.

The economy is expected to expand 7.8 percent in 2008, compared with 7.1 percent last year, Mkulo told lawmakers in the capital, Dodoma, today. Growth will accelerate to 8.1 percent in 2009, 8.8 percent in 2010 and 9.2 percent in 2011, he said.

``The increase in the growth rate was mainly attributed to an increase in economic activities in communication, mining, financial intermediation, trade, construction, health and agriculture,'' Mkulo said.

The economy of Tanzania, which ranks behind South Africa and Ghana as the continent's biggest gold miner, is benefiting from rising global commodity prices. The nation is also attracting increased investment after most of its debt was canceled in 2006.

The government will target an inflation rate of 7 percent in the year through June 2009, Mkulo said. Consumer inflation accelerated to 9.7 percent in April, from 9 percent in March, as food prices increased, the National Bureau of Statistics said last month.

Spending in Tanzania will rise to 7.22 trillion shillings ($6.1 billion) in the fiscal year through June 2009, from 6 trillion shillings a year earlier, Mkulo said in his budget speech.

Foreign-Donor Support

The government intends to trim tax exemptions for mining companies and other investors, improve revenue collection methods and register new taxpayers to help reduce its reliance on foreign-donor support for its budget, he said, without providing details.

``Dependence of the budget on the donor external financing, which is unpredictable, affects the government's medium-term planning and implementation of annual plans,'' Mkulo said.

About 34 percent of the 2008/09 budget is funded by foreign donors, compared with 42 percent a year earlier, he said.

The surging cost of oil, fertilizer and raw material imports, along with Tanzania's inadequate road, rail, ports and energy infrastructure, may restrain economic growth, Mkulo said.

As a result, Tanzania will spend about 460 billion shillings on fertilizer subsidies, developing hardier varieties of seeds and training farmers to boost agriculture, which employs about 80 percent of the country's workforce.

About 973.3 billion shillings will be spent building roads, Mkulo said. The government may also extend a cereal export ban and impose a tax on some crops sold outside the country to bolster domestic food supplies, Mkulo added, without elaborating.

Tanzania is Africa's fourth-biggest coffee exporter after Uganda, Ivory Coast and Ethiopia.

http://www.bloomberg.com/apps/news?pid=20601116&sid=aU8YJ0DkXNpA&refer=africa

nairoberry

July 4th, 2008, 11:34 PM

African Community minister Amason Kingi Jeffah (right) and Mr Nalo at yesterday’s Press briefing. The PS explained steps to implement the standards mark.

July 3, 2008: The adoption of a common regional quality standard will go on despite the implementation hitches.

The Ministry of East African Community said yesterday it was mandatory to effect the common standards after the regional legislative assembly passed the Standards, Measurement and Testing Act.

“It is now law and must be implemented. There could only be negotiations on the mode of implementation,” Mr David Nalo, the permanent secretary in the ministry, told a news briefing in Nairobi yesterday.

Grace period
But in what could be a reprieve to importers and exporters, the PS said the EAC Council had formed a committee to co-ordinate a smooth implementation of the new law that was set to have taken effect on July 1,2008.

Confusion over standardisation marks has resulted in delay in the implementation of this legislative requirement in markets such as Kenya where the standards regulator, Kenya Bureau of Standards (Kebs) has been forced to give a three-month grace period to traders to comply.

Several supermarket chains such as Nakumatt had threatened to withdraw from its shelves goods, which do not bear the EAC standards seal.

The threat by Nakumatt could lock out thousands of locally manufactured goods from trading since only 1,300 brands have been registered with the quality mark.

Some importers have also fronted an argument that the EAC standards mark requirement would only compound logistical hitches since most goods had already been covered by the provisions of the regional Customs Union (CU), which dictates that goods traded must meet the rule of origin (ROO).

Under the EAC Customs Union that came into effect in 2005, traders have in the past been allowed to operate as long as they had in their possession Certificates of Conformity (CoC) which confirmed compliance with the ROO clause.

“The committee will look into the diverse issues that are being raised such as what marks would be used to capture regional standards,” Mr Nalo said.

He said the new Standards and well as Competition laws were vital in protecting regional markets from the threats of piracy and counterfeits that denied traders fortunes in earnings besides placing the lives of consumers at risk.

“The law is all round good for regional markets. The opportunities to protect markets and consumers alike is huge.”

The PS expressed optimism that players in regional markets would soon find a middle ground on the strategy to use in implementing the new standards law.

Legal redress
Local manufacturers have in the past complained that some imported goods have been allowed to trade without the new standardisation mark.

The PS argued that with the new laws and the newly established two-tier regional courts, traders would find an opportunity to seek legal redress whenever disputes arose.

The region boasts of a first instance court and a court of appeal.

East Africa Community minister, Amason Kingi Jeffah, said yesterday Justices Kasanga Mulwa and Phillip Tunoi had been appointed to serve as in the first instance and Appellate courts respectively.

DanteXavier

July 5th, 2008, 02:30 AM

Mozambique: Portugal Cancels Country's Debt

Portugal has cancelled Mozambique's remaining debt to Lisbon, estimated at 393.4 million US dollars, accumulated since shortly after independence until 2005.

An agreement to that effect was signed in Maputo on Tuesday between Mozambican Finance Minister Manuel Chang and his Portuguese counterpart Fernando Teixeira dos Santos.

Negotiations about the debt had begun in late 2005 and, a few months ago, the technical negotiations were completed, thus making it possible to sign Tuesday's agreement. Most other European creditors had cancelled Mozambique's debts long ago.

Chang described the debt cancellation as an acknowledgement by Portugal of the achievements of the Mozambican government in implementing programmes aimed at growth and the socio-economic development of the country. He said that money that would have otherwise gone towards servicing the debt to Portugal could now be used to finance activities included in the government's Action Plan for the Reduction of Absolute Poverty (PARPA).

For his part, Teixeira dos Santos said that writing off this debt is in line with a commitment by Portugal, as a member of the "Paris Club" of creditor nations, to cancel the debts of Highly Indebted Poor Countries (HIPC).

"This was part of an international initiative. Portugal joined this initiative, which is not only bilateral between Mozambique and Portugal, but involves the international community, the International Monetary Fund and the World Bank to relieve debts of the Highly Indebted Poor Countries. Mozambique has been meeting its development challenges and has deserved special attention from the international community', he said.

In fact, Portugal has dragged its feet in implementing its HIPC undertakings. Explaining this delay, Teixeira dos Santos told reporters that, though negotiations started in 2005, the final agreement was only signed now because Portugal itself had been facing a serious financial crisis as a result of its budget deficit, 6.1 per cent, well above the 3 per cent acceptable to the European Community.

He claimed that, before writing off the debt, Portugal had first to stabilize its own economy, which was finally achieved.

"After we corrected the deficit, now we have enough space to meet this Mozambican interest in writing off the debt", said the Portuguese minister. "A month after we gained acknowledgement from the European Commission that we have lowered our deficit to less than three per cent, we are here, in Mozambique, to say that now we are in a fit condition to cancel the debt".

Besides this agreement, the two countries also signed other memoranda, namely a tripartite agreement to grant a 100 million Euros (148 million US dollars) loan, and another on technical cooperation between the two countries' Finance Ministries.

The tripartite agreement was signed between the two Finance Ministries and the Portuguese state bank, the Caixa Geral de Depositos (CGD). This credit will be used to develop socio-economic infrastructures in the areas of agriculture, energy, public works, industry and trade.

On technical cooperation, the two ministries intend to design programmes and step up technical assistance in the areas of customs, public purchases, public debt, planning and international relations, taxes, financial inspections, budgeting and public accounting.

http://allafrica.com/stories/200807020911.html

Tarrex

July 5th, 2008, 06:51 PM

Ethiopia: Council of Ministers to endorse oil exploration license for British company

Saturday, 05 July 2008
By Kaleyesus Bekele

A UK-based company, Falcon, is to engage in oil exploration activity in the lake Tana area of the Amhara Regional State.
Falcon, the first company which has shown keen interest near the River Nile, has been negotiating with officials of the Ministry of Mines and Energy (MME) for the past two months. Experts of MME have been evaluating the proposal submitted by Falcon. Officials of MME three weeks ago forwarded the draft oil exploration license to the Council of Ministers for endorsement.

Once the oil exploration license is approved by the Council of Ministers, MME and Falcon would sign an oil exploration agreement and production sharing agreement (PSA) which enables the company to prospect for oil in the sedimentary basic found in the vicinity of Lake Tana. The Tana area is one of the five sedimentary basins found in Ethiopia. Ogaden, Gambella, Omo, Abay Gorge and Mekelle are the other four.

So far six companies are engaged in oil exploration activity in Ethiopia. These are Petronas, Pexco, South West Energy, Lundin, Afar Explorations and White Nile. Falcon would be the first company to explore the Tana basin.

a_bondima

July 6th, 2008, 03:56 AM

Cameroon sees growth up, eyes potential bond

Fri 4 Jul 2008, 5:42 GMT

By Peter Apps and Bate Felix

LONDON (Reuters) - Cameroon's Prime Minister sees his country's economic growth accelerating on new mining and infrastructure projects, he said on Thursday, raising the prospect of an international bond issue.

Ephraim Inoni told Reuters in an interview he expected growth to reach 6-6.5 percent in 2009 against 4-5 percent in the current year. The International Monetary Fund says it expects 6.5 percent growth across Africa in 2008.

"We are expecting the growth from major sectors like mining and infrastructure projects like the port and are in the process of building a new stadium," he said on the sidelines of a Commonwealth Africa business event in London.

Western mining firms are stepping up cobalt and nickel mining in Cameroon, part of a broader boom in production across the continent driven by soaring demand from emerging Asian economies.

Ghana and Gabon both issued Eurobonds last year, and while no African country has yet come to market in 2008 further issues are expected from Kenya and Uganda. Inoni would not give a timescale or potential size for any issue, but said it was being considered.

"The Minister of Finance is working on that," he said.

Like many other countries across Africa and around the world, Cameroon has struggled in the face of spiralling food and fuel prices. In February, at least 24 people were killed in protests that were linked partly to ride in living costs. Human rights activists put the death toll at 100.

The government raised state salaries and suspending customs duties on basic foodstuffs. Inoni said they had also imposed price controls and subsidies to limit the impact of rises on the population.

SUSTAINABLE?

"The government has put in a system of controls so that market prices do not rise above certain levels," he said. "Oil prices are now above $140 (a barrel) but we have maintained prices to levels where they were when a barrel was at $80."

But there were limits to how much price support the government could provide, he said.

"I do not think that if prices go up to $200, we will be able to sustain," he said. "We are only praying that it stays at this level. But I do not think they will go that high."

Overall, he said the West African country's economy was in good health but complained international coverage of Africa concentrated too much on its handful of wars such as Somalia and eastern Democratic Republic of Congo, sometimes deterring investment.

He said he would not directly criticise Zimbabwean leader Robert Mugabe beyond repeating the sentiment of the recent African Union meeting in Egypt which called on him to negotiate with the opposition after a widely condemned election.

Leaders of the G8 industrialised nations will discuss the sharpening sanctions against Zimbabwe at a meeting in Japan next week, a German government official said on Thursday.

"Our policy in general is that we do not criticise people," Inoni said. "It is their government. I think the position taken by African countries... in Egypt is fairly reasonable although it may not be considered hard enough. We will see what the G8 will decide on Zimbabwe."

DanteXavier

July 7th, 2008, 08:06 AM

Tanzania increases business with EAC neighbours

TANZANIA’s trade with its East African Community (EAC) neighbours has increased significantly since the establishment of the Customs Union some three years ago, the National Assembly was told yesterday.

The Minister for East African Cooperation, Dr Diodorus Kamala, said the country’s exports to the region -- Kenya and Uganda in particular -- went up from $95.4m in 2004 to $173.1m last year, which translates to a 81.4 per cent increase.

Dr Kamala said when tabling his ministry’s 2008/09 budget estimates that during the same period Tanzania’s imports dropped from $137.7m to $106.6m (22.6 per cent).

He said Rwanda and Burundi had not started to implement the Customs Union protocol, especially the Common External Tariff and gradual reduction of customs duty on goods from Tanzania.

But he said the other members of the community had phased out customs duty as scheduled in the protocol. While the trade between Tanzania and Uganda is duty free, imports from Kenya had been divided into two groups -- products with limited impact on the country’s economy (Group A) and those with sensitive ones (Group B).

“The first group of goods carries no duty while the second group is charged duty but the rates are reduced gradually to enable Tanzanian industries to get prepared or the impending competition as come 2010 all these goods will be charged zero tariff,” he said.

The minister who asked the House to approve 10.9bn/- for his ministry’s development and recurrent expenditures, therefore challenged Tanzanian traders to get ready for the stiff competition ahead upon the expiry of the five-year grace period.

Dr Kamala also said that non-tariff barriers continued to be a great stumbling block to trade in the region. Impediments mentioned, he said, included bureaucracy in the management of customs matters, complicated procedures of goods inspection for compliance of quality and standards, unnecessary road blocks and difficult licensing procedures.

But he said efforts were going on to remove the barriers and that the work was coordinated by national committees established by respective countries.

http://dailynews.habarileo.co.tz/magazine/?id=5684

DanteXavier

July 7th, 2008, 08:11 AM

Lesotho sees growth from diamonds, water

* Trade minister sees growth rising from 4 to 6-7 percent

* Diamond mines, water project key growth areas

* Textile sector exposed to US downturn, likes currency weakness

By Peter Apps

LONDON, July 3 (Reuters) - Lesotho sees its economic growth rising in coming years due to diamond mining and a new water project, its trade minister said on Thursday, although high food prices still pressure the southern African mountain kingdom.

An independent state enclosed entirely within the borders of South Africa, Lesotho has been battling successive harvest failures and one of the world's highest HIV infection rates while relying mainly on textile exports to the United States.

But Propane Lebesa said it was now benefiting from several new diamond mines -- the first of which reopened in 2004 on the site of an already abandoned mine high in the mountains. He said a new lowlands water project was also being developed and would also boost growth.

"We are at 4 percent and we have been growing steadily over the last couple of years and next year we are expecting 5 percent growth, going to six to seven percent in the next two or three years," he told Reuters in an interview at a Commonwealth Africa business summit in London.

While Lesotho's highlands water project exports water to South Africa's commercial heartland around Johannesburg, he said the lowlands project would concentrate on supplying Lesotho itself, using irrigation to boost agriculture.

"We have come to recognize the fact that irrigation is really the answer for us," he said. "The answer is in harnessing the water."

WEAK CURRENCY HELPS

The government had raised subsidies to try to mitigate the impact of high global food prices, he said, but he hoped better agricultural practices would produce a good harvest this year and reduce dependence on expensive maize imports primarily from South Africa.

Mainly Asian owned factories export textile goods to the United States, taking advantage of preferential access under the African Growth and Opportunity Act. It slumped in 2004 on expectations the deal might expire, but it was renewed.

"The sector has more or less stabilised," Lebesa said, although he said there had been some recent job losses. "It has been slightly affected by the downturn in the U.S. economy."

Exporters had benefited from the decline in South Africa's rand <ZAR=>, down almost 12 percent against the dollar so far this year. Lesotho's maloti currency is pegged to the rand on a one-to-one basis.

Lebesa said the government had also been successful in helping reduce the number of new HIV infections, with the country's infection rate falling from around 30 percent to around 25 percent at present.

Several African countries including Kenya, Uganda and Cameroon have expressed interest in issuing international currency bonds after the success of issues by Gabon and Ghana last year. But Lebesa said Lesotho did not intend to follow.

"I don't think so," he said. "I think we are too small."

http://www.reuters.com/article/latestCrisis/idUSL03545186

DanteXavier

July 7th, 2008, 08:14 AM

Ghana gets tough on 'brain drain'

To coincide with the 60th anniversary of Britain's National Health Service, the BBC looks at healthcare around the world. The BBC's Will Ross reports from Ghana where the "brain drain" has left hospitals struggling.

If you want to train in Ghana as a nurse and then disappear in search of greener pastures abroad, you better have deep pockets.

That is the message from the government as it attempts to stem the so called "brain drain" of health workers.

Nurses face a fine if they want to work abroad before serving in a Ghanaian hospital for five years.

"We have looked at the cost of training a nurse and if you default for the whole five years then you will be paying around 12,000 Ghanaian cedis, ($11,000, £5,500)," says James Antwi, the Health Ministry's deputy director of human resources.

In theory a nurse wishing to work abroad would have to produce a certificate as proof of qualification and so until any fine has been paid, the Health Ministry can withhold the certificate.

The Ghanaian government says the threat of a fine has helped although the accountants have not exactly been inundated. Since the scheme was implemented three years ago just four people have paid fines of between $2,000 (£1,000) and $6,000 (£3,000).

In 2004, 700 nurses notified the ministry before going to work in Britain. But that has dropped massively to just six nurses leaving to work in the UK last year, according to the government.

This is, however, partly due to the fact that nowadays doctors and nurses from other parts of the European Union would be in front of Ghanaians in the queue for jobs in the British health system. It is also not clear how many have slipped under the government's radar.

There is no practical way of preventing a nurse from quitting the profession altogether and with low morale amongst health workers, retaining staff is a major challenge for the government.

Back-to-back shifts

In the psychiatric hospital in the capital, Accra, young listless patients are watching music videos on television. A health worker is asleep, her head on a table. It is early afternoon. Other staff who have stayed awake are frustrated.

"I started in February and I still haven't been paid. And when you complain it is like it is the norm. You are told, 'It will come it will come,'" says nurse Joanna Poku who trained in the UK before returning home.

"But at the end of the day there are bills to be paid. So I can see why nobody wants to stay here – it is very frustrating."

A nurse in Ghana earns between $300 (£150) and $400 (£200) a month after tax but with rising transport and food costs, many are forced to take on a second job in private health and then to work back-to-back shifts.

So when the Health Ministry states amongst its visions and goals a desire to retain and increase productivity of health workers, why can it not pay all its workers on time?

"This problem has been with us for years and until we get decentralised human resource management and payroll management this problem may have to stay. But we are working hard to get a decentralised system sorted out," says Mr Antwi.

The salary problem seems to be worst for newly enrolled health workers, as testified by the fact that junior doctors went on strike in Accra earlier this week. They were fed up waiting for their first salaries. They had started work back in October.

Apart from salary delays for new recruits, things are apparently improving for doctors (once they are on the payroll) and the exodus is slowing down.

"There are more opportunities for further training and we no longer have a situation at the end of the month where people are uncertain whether they are to be paid or not," says Dr Sodzi Sodzi-Tettey, the general secretary of Ghana's Medical Association, before adding that there are still a few concerns about the conditions under which people are working.

Ambitious

He believes that instead of focusing on stopping the brain drain, Ghana should consider training more health workers than it needs and then, under agreement with other countries, exporting the surplus whilst reinvesting some of the money earned.

"If it is really the case that Ghanaian doctors and nurses are that professional and well qualified, is there something to be gained by training say 5,000 a year and sending out 3,000?" Dr Sodzi-Tettey asks, pointing to Cuba for comparison.

Cuba has around 70,000 doctors. Ghana's population is twice the size of Cuba's but has just 2,300 doctors.

This plan, at least for now, seems a little ambitious when there is a morale problem amongst many Ghanaian health workers.

Living in her parent's home in Accra's Asylum Down suburb, 24-year-old nurse Francisca says she had to wait a whole year for her first salary.

"I will still stay in the medical profession, but I doubt I will stay working as a nurse because I believe nurses are being looked down upon in Ghana."

Ms Poku who came back home from the UK just four years ago is already thinking of calling the travel agent.

"If circumstances were good in our own country who would want to leave? Home is home. It is peaceful. Why would you want to go to another country and stress out?

"It's because we are not comfortable," she says after crossing town for the second shift of the day.

http://news.bbc.co.uk/1/hi/world/africa/7490340.stm

DanteXavier

July 8th, 2008, 10:16 AM

Seychelles Are a Daydream destination, says expert

The Seychelles have been described as a "daydream" destination for those seeking a sun-soaked holiday, by one expert this week.

AA Gill writes in The Times newspaper that the Seychelles, which are a collection of 115 Indian Ocean islands, are the "perfect holiday destination when you're not on holiday".

He explains: "They come without baggage to interrupt the daydream of a desert island.

"How many of us could name the capital or the currency, know what language is spoken or even – and this is a bit of a shock – name the continent they belong to?"

The travel reporter says that it is the political and geographical neutrality of the Seychelles which makes them such a relaxing getaway.

According to the Lonely Planet travel guide, the Seychelles are a "luxurious, tropical paradise" that boast beaches with clear waters.

It says that the flavour of African culture provides a magical backdrop to the "dazzling" beaches.

For those of you who wish to know: you'd probably be able to order a meal in either English, French, or Creole in the capital - Victoria - were you to spend a few rupees in this African republic.

http://news.holidayhypermarket.co.uk/Seychelles-Are-a-Daydream-destination,-says-expert-18670970.html

CroissantLBV

July 8th, 2008, 08:53 PM

Kenguy

July 9th, 2008, 09:33 AM

I don´t buy into all this, Africa people are still too poor and don´t get a dime of all the growth rates, oil or bond market, tell that to the simple market women or taxi drivers, they will laugh at you.

This kind of news is like looking thru´ a rose-tinted glass!

With rose tinted glasses or not, there's alot of positive development going on in the continent than ever before. Thats far better than what the continent has had to endure in the past.

CroissantLBV

July 9th, 2008, 01:05 PM

Mulopwe

July 9th, 2008, 05:35 PM

CroissantLBV.

Why are you so negative ??? Things are happening in certain part of africa.... look at Ghana, Namibia, Mozambique, Botswana, Gabon , Nigeria, Angola and Keyan to so extend .. Things have changed.

Mulopwe

nairoberry

July 10th, 2008, 01:53 AM

CroissantLBV

July 10th, 2008, 11:29 AM

you are an idiot

becase of telling the truth?

ufookoro

July 10th, 2008, 01:58 PM

becase of telling the truth?

No because you are not telling the whole truth.:ohno::ohno:

Kenguy

July 10th, 2008, 07:10 PM

nairoberry

July 10th, 2008, 09:36 PM

^^
Croissant, Unlike you, I live in Africa. Every time I see a new road being built or look around me and see lives improving in one way or another, I know there is something to look forward to because it was not long ago when almost nothing used to happen or worse.

As for Kenya, The country is here to stay, same goes for Rwanda. All I can say is watch this space.:)

incase croissant wasnt paying attention, KENYA IS HERE TO STAY

nairoberry

July 10th, 2008, 10:03 PM

Kenguy, keep on dreaming! are you aware of how quickly things can change in your own country? The peace process happend due to massive pressure from the West, it doesn´t take a rocket scientist to figure out where Kenya would be today if no prompt action followed.

Kenya is a highly unstable but a key country in the sub-region, that´s why the West intervened. If it were Rwanda, we all know where it would be today....

Ok, Good night, have to go to bed now! It is laready very late.

we were fighting for justice to prevail just like marting luther king said, "our lives began to end the day we become silent about the things that matter" the system did not provide justice, hence kenyans demanded for justice and we got it, if kenyans didnt take any action imagine where kenya would be? you talk about influence of the west? that just shows that u know crap about kenya, man get ur head straight. we took one step back but now we are taking our second step forward coz our democracy is now stronger than any other time in kenya's history. u r the africans that just sit there and lament how 'bad' africa is and do nothing, while the real africans move it forward. people of your kind really disappoint me i.e africans that are narrow minded and think that there is no hope in africa.

FYI: kenya will never go go backwards just keep that in mind.

Genuinesol

July 11th, 2008, 04:32 AM

This forum is awful! Thus far I have not been allowed to post to this thread even though my posts are relevant and informative. Everytime I attempt to post I receive a message telling me that my post will not be visible until a moderator approves it which they never do and they have not responded to my inquiries. This has been a horrible experience and all because I want to contribute positive news about Africa.

This is in response to the negative poster above. Check out the powerful economic growth of Africa in the links below.

Be sure to read and if possible, someone please quote, the article titled "Africa's Power Show" since it should help rebute a lot of what CroissantLBV has stated.

Africa's Power Show
http://www.blackenterprise.com/cms/exclusivesopen.aspx/id/4538

Black Digerati
http://www.blackenterprise.com/cms/exclusivesopen.aspx/id/4708

Genuinesol

July 11th, 2008, 04:33 AM

Black Digerati

A New Vision Of Africa

By Anthony S. Calypso
July 9, 2008 -- When talking about Africa, Cheick M. Diarra's voice crackles with enthusiasm. He wants to make it very clear that he is referring to the other Africa. "It might not be as sexy for the newspapers, but there is a large majority that is not sick or at war. I have always focused on the [millions] of Africans who get up every day and work hard to try to develop this continent," says Diarra, Africa chairman at Microsoft.
As chairman, Diarra supports the software giant's business activities throughout the continent's 54 countries including surrounding islands. The Mali native, who holds a doctoral degree in mechanical and aerospace engineering from Howard University, oversees a team of roughly 700 personnel from the company's regional headquarters in Johannesburg, South Africa. Diarra, an astrophysicist who also worked for NASA as an interplanetary navigator on several major space missions, has been mapping out an ambitious course, designed to alter perceptions of Africa as a war-torn continent, plagued by disease and poverty. Although it's going to take time, Diarra firmly believes that there is a remedy to the image of Africa in the eyes of the global business community.

His prescription boils down to leveraging technology to promote human development. In Diarra's own calculations, education breeds entrepreneurs. "Africa is always perceived as very poor, and since most corporations are not implanted on the continent, the perception becomes a lasting one," he says. Microsoft, he adds, has been in Africa for more than 10 years. "In every single country, we have people on the ground going to academia, to the business communities, and to governments to try [to meet] the peoples' needs."
One of the primary issues affecting entrepreneurial growth in Africa is access to technology. To begin to address the local needs of the various populations across the continent, Microsoft works with a host of non-governmental organizations (NGOs), relief agencies that aren't affiliated with any particular government, to assist in implementing localized solutions. These days, relief can come simply by providing access to the Internet.

According to Diarra, there are 50 Microsoft-sponsored computer training centers in South Africa. In addition, the company has invested in translating its operating system into several languages including Zulu, Kiswahili, and Afrikaans, to meet the needs of the diverse ethnic populations across the continent.

"Wherever we find NGOs that share the same passions [as we do]," says Diarra, a United Nations Educational, Scientific, and Cultural Organization (UNESCO) goodwill ambassador, "we partner with them to provide the resources, the software, training content, and connectivity grants. We are in the business of really trying to empower the communities in which we live."

At the heart of those communities sits an untapped resource. Diarra says there are roughly 450 million Africans under the age of 30. This is what excites him–the combination of opportunities for entrepreneurs, both in and outside Africa, and a wealth of natural resources in the form of human capital.
"Sometimes the best way to get on a marching train is to create a bridge," says Diarra. But could that bridge extend to African American companies? "I can imagine an African American company doing e-health; there is a solutions market, the telecommunications sector is booming." Africa is at a point, Diarra believes, where "every single investment has such an impact. There are a lot of opportunities for companies...tremendous opportunities."

Genuinesol

July 11th, 2008, 04:37 AM

DanteXavier

July 11th, 2008, 05:32 AM

Some good and bad news from Botswana.

Expert doubts Botswana economic growth

Botswana's economic growth does not seem to have been badly affected by the international slowdown but this may not last, an economist has said.

Commenting on the Bifm Economic Review for the second quarter of 2008, Dr Keith Jefferis said more generally, growth prospects for the year are uncertain, despite strong economic growth in the second half of 2007. He said growth is likely to be negatively affected by the global economic slowdown through reduced demand for exports and the regional electricity shortage. However, strong government spending domestically should help to support growth rates.

In Botswana, things may be made worse by two high-profile corporate failures in the transport sector namely Lobtrans and African Express. This may make the banks more reluctant to provide corporate credit, or impose tighter terms and conditions, which would restrict credit availability.

However, Jefferis said views in the private sector are mixed. The Bank of Botswana's Business Expectations Survey conducted in March 2008 reported that businesses expected an average growth rate of 5.9 percent in 2007-2008 (compared to 6.1 percent in 2006-2007, the most recent actual data), rising to 6.4 percent in 2008-2009. The impact of deteriorating economic conditions has already had a negative impact on two of the major development projects that were expected to boost growth in the coming years. These include the Activox Refinery Project, which was recently postponed indefinitely by Russia's Norilsk Nickel and the Mmamabula Energy Project, which will not take off as earlier envisaged.

The international economy is suffering from a slowdown in growth as well as sharply higher inflation. While the world economy is not yet in recession, growth is falling almost everywhere.

To what extent has this growth slowdown had impact on Botswana? Jefferis said so far, the impact seems to be limited. The latest GDP growth data only go as far as September 2007, but show that, at least up until then, growth was powering ahead.

In the year to September, total GDP grew by 5.9 percent, and the non-mining private sector by a striking 11.1 percent, with particularly rapid growth in the manufacturing, trade, hotels and tourism, and transport and communications sectors.

However, Jefferis said export data, which is more up to date tells a less encouraging story.

Total exports in the last quarter of 2007 and the first quarter of 2008 were down 12 percent compared to a year earlier, with particularly sharp falls in exports of beef (down 44 percent), and textiles and diamonds (both down 17 percent).

"The reduction in these exports, which almost entirely go to developed country markets, suggest that the effects of the growth slowdown may be biting, and does not augur well for export led growth over the next couple of years," Jefferis said.

There appears to be no equivalent credit crunch in Botswana, where the financial markets are relatively insulated from global financial developments, he added.

Domestic financial markets remain very liquid, and credit growth has been robust; total bank credit grew by 28 percent in the year to March, the fastest growth since 1999.

Growth has been particularly rapid in credit to the private business sector, which was up by 35 percent.

Looking specifically at mortgage markets, which have been at the forefront of financial sector problems in the major developed economies, in Botswana it appears to be business as usual.

Total mortgage lending by the commercial banks and the Botswana Building Society rose by 12.3 percent in the year to March 2008, and although lower than overall credit growth, demand for mortgage finance reportedly remains robust.

While the Botswana Stock Exchange (BSE) has experienced a period of decline since the third quarter of last year, there are only superficial similarities with the declines in stock markets around the world.

However, Jefferis said the decline in the BSE index largely reflects local developments.

http://www.mmegi.bw/index.php?sid=4&aid=1&dir=2008/July/Wednesday9

Kenguy

July 11th, 2008, 11:23 AM

CroissantLBV

July 11th, 2008, 09:04 PM

What amazes me is that people tend to overlook that even when the USA achieved independence all those years ago they experienced many of the same problems that some African countries are currently experiencing. Some of us here on this forum marvel at the growth of some Asian countries such as China and India and yet we ignore the serious problems that have existed and still exist in those countries. China and India both sill have millions of residents living in poverty, political instability, and other issues related to poor health care, inaccessible education, and oppressive government regimes. That being the case both of those countries is still experiencing powerful economic growth and so have the majority of African countries with the exception of Zimbabwe.

What are you talking about? Do you know how well run Zimbabwe was in 1980?
Have you forgotten what Winston churchill said about Uganda?
What happend to the Ivory Coast?
What happend to my country Cameroon?
Why were Angola and Mozambique destroyed? They are now incomparable to what they have been at independence!
What about Nigeria? It should be a proud and thriving black nation by now but it struggles with keeping the Niger Delta crisis contained!
And Kenya? What happened in 2007 can happen again!
Do you know that Congolese people were among the best educated people in Africa in the 70´s?
Do you know that Ghana was fàaaar richer at time of independence then South Korea?
Where are all the tens of thousand of kilometres of road in the Congo, where are its industries, they build ships in the 50´s, heavy and light industries, they had thriving mines. Where are they all gone?

Ignore this growth if you choose that is your unfortunate choice but, the fact remains it is positive growth, it has been consistent, and therefore something is being done right even if it does not meet the standards of some. No child was born running but instead crawled and took small steps to begin walking. Progress may not be as fast as we like it to be but at least it is there.

Positive growth ...in mind is inclusive growth and smart growth (taking care of envrionment. This is my definition of real progress

Do people still don´t know what true progress means? I would be happy if you shown me pictures of large-scale agricultural development, agricultural scientific research, mass employment, healthy children going to good schools, people being treated in good hsopitals, not private but state-run so that it is affordable to everyone, good and clean roads in the rural areas and not just next to the presidential palace, drinkable water for the poor, nice social housing for the poor, technical schools and colleges for a new thriving middle class, malaria prevention/eradication, civil society initiaves, enviromental education. in short true development initiatives that will be advantage to ordinary people and not just to an isolated elite that got its money by means of illicit trade/state plunder.

Democratic or autocratic it doesn´t matter our leaders don´t have their people on their mind.

Carver02

July 11th, 2008, 11:12 PM

What amazes me is that people tend to overlook that even when the USA achieved independence all those years ago they experienced many of the same problems that some African countries are currently experiencing. ...This is a good point, and one I've tried to make before. After independence the USA had many problems with unregulated militia, politically organized gangs, lynch mobs, civil war, all of the problems we've seen in Africa since independence.

And now Croissant tells us there is peace in Kenya because of the West. Bull. There is peace in Kenya because of the participants, the ODM and the PNU. Everyone else, even Kofi Annan, was an onlooker.

The West intervened militarily in Somalia yet there is no peace there, so how could a mere diplomatic overture towards Kenya have solved their problems. Once again, Croissant is completely irrational and illogical. He is nothing but a spammer and troller and should be banned, but the white South African moderating this forum won't do it.

Genuinesol

July 12th, 2008, 01:08 AM

What are you talking about? Do you know how well run Zimbabwe was in 1980?
Have you forgotten what Winston churchill said about Uganda?
What happend to the Ivory Coast?
What happend to my country Cameroon?
Why were Angola and Mozambique destroyed? They are now incomparable to what they have been at independence!
What about Nigeria? It should be a proud and thriving black nation by now but it struggles with keeping the Niger Delta crisis contained!
And Kenya? What happened in 2007 can happen again!
Do you know that Congolese people were among the best educated people in Africa in the 70´s?
Do you know that Ghana was fàaaar richer at time of independence then South Korea?
Where are all the tens of thousand of kilometres of road in the Congo, where are its industries, they build ships in the 50´s, heavy and light industries, they had thriving mines. Where are they all gone?

Positive growth ...in mind is inclusive growth and smart growth (taking care of envrionment. This is my definition of real progress

Do people still don´t know what true progress means? I would be happy if you shown me pictures of large-scale agricultural development, agricultural scientific research, mass employment, healthy children going to good schools, people being treated in good hsopitals, not private but state-run so that it is affordable to everyone, good and clean roads in the rural areas and not just next to the presidential palace, drinkable water for the poor, nice social housing for the poor, technical schools and colleges for a new thriving middle class, malaria prevention/eradication, civil society initiaves, enviromental education. in short true development initiatives that will be advantage to ordinary people and not just to an isolated elite that got its money by means of illicit trade/state plunder.

Democratic or autocratic it doesn´t matter our leaders don´t have their people on their mind.

Did you not read the articles that I presented the links for? If you did you would have read this quote from the article that focuses on Africa's growth and need for a better public image...

"In every single country, we have people on the ground going to academia, to the business communities, and to governments to try [to meet] the peoples' needs."

Why do you acknowledge this progress? The past is over and done with and Africa is experiencing growth stronger than the growth it had in the late 70's and the 80's. Nigeria and Angola have been recognized as some of the fastest growing economies in the world and Nigeria is stated to soon have one of the most powerful economies in the world.

Does more need to be done? Yes and I doubt anyone would argue with you in that regard.

Is something being done? Yes and if you try and say that nothing is being done then you will get an argument from me.

That is of course if you are worth arguing or debating with. It is not to my benefit or to the benefit of anyone else if you choose to ignore the facts and blindly stick to what you believe.

The facts are there. While I was browsing through this forum I notice a thread you posted that highlighted some of the tragic occurrences in Africa such as human sacrifice well let me tell you one thing; you can find hundreds of such articles for many countries on most continents and for every negative article you find on Africa you can find positive ones since they are out there.

Does anyone here read Ebony magazine? They know have a column devoted to Africa titled "Ebony in Africa" and it focuses on how the West has what is called "media pornography" where they highlight the negative of Africa but they have ignored the fact that Africa has extended its medical services, made its education more accessible, along with other successes. You seem to like research Crossiant so do your own research on this matter.

Genuinesol

July 12th, 2008, 01:14 AM

Crossiant, educate yourself and do your own research. Africa is succeeding and the problems it has as every country has problems are being resolved. :)

The article below is about the succcess of the education system in Namibia and is 3 pages long so I cannot post it here but feel free to click on the link below.

http://allafrica.com/stories/200804030501.html

Matthias Offodile

July 12th, 2008, 08:13 PM

Genuinesol and the others, just leave this stupid troll and idiot! He is not worth talking to. Waste of time.

I told him to leave the forum if he cannot contribute to it in a meaningful way.

Matthias Offodile

July 12th, 2008, 08:14 PM

This is a very good initiative for Gabon´s envoronment. new laws and loads of new technical equipment is placed throughout the city and weekly controls concerning air pollution of cars and the city´s environment in general. This will be expanded througout the city.

I wish that I could post more article in English but they are non avaibale. So I am giving you short descriptions.

The country also recently lauched non-leaded petrol to keep the air clean.

Gabon: Contrôle anti-pollution, l’opération se déporte au « carrefour Rio»

Actualité du :08/07/2008

Libreville, 8 juillet (GABONEWS) – Après une énième semaine de répit consacrée à la prospection des sites et à la préparation des équipements techniques, les agents de la Direction générale de l’Environnement qui ont lancé, le 2 juin dernier, l'opération de contrôle anti-pollution des automobiles, qui a pour objectif de mesurer statistiquement la quantité des gaz à effet de serre rejetée par les véhicules sur l’ensemble du territoire, ont, après le front du bord de mer, où ils avaient près d’une dizaine de jours et la semaine passée au carrefour OKala dans la banlieue nord de Libreville, posé leur paquetage, ce mardi, au « carrefour Rio » dans le troisième arrondissement où ils comptent rester cinq jours avec pour objectif de contrôler en moyenne 40 voitures par jour, a constaté GABONEWS.

Selon Alfred Mouity, chef de service environnement rural et urbain, à la mi-journée, plus d’une trentaine de véhicules avaient déjà analysées. Chiffre très satisfaisant et prometteur au regard des 40 véhicules / jour visées, se sont réjouis M. Mouity et son équipe qui estiment, par ailleurs, à plus de 600 le nombre de voitures ayant subi ce contrôle depuis le début de l’opération.

Ce chiffre, bien que loin des 5000 envisagés pour l’ensemble de l’opération, rassure tout de même les équipes de la Direction générale de l’Environnement dont la prochaine étape est annoncée pour l’intérieur du pays, particulièrement Port-Gentil, la capitale économique, où elles envisagent contrôler 1.000 voitures avant de regagner Libreville afin d’atteindre l’objectif recherché de 2.000 voitures contrôlées et, par la suite, repartir vers d’autres localités de l’arrière pays, confient les agents en poste au « carrefour Rio » qui estiment, en outre, que l’opération se déroule sans difficulté majeure depuis son lancement.

En rappel, commise par le ministère de l’Environnement, du Développement durable et de la Protection de la nature, cette opération de contrôle anti-pollution, lancée officiellement le 2 juin dernier par le Premier ministre, Jean Eyéghé Ndong et le vice-Premier ministre en charge de l’Environnement, Georgette Koko, vise à évaluer statistiquement la quantité des gaz à effet de serre dégagée par les voitures en circulation au Gabon.

Matthias Offodile

July 12th, 2008, 08:16 PM

a new big agricultural project for Gabon has been launched

Gabon: PRODIAG, un projet d'investissement agricole au Gabon

Libreville, 12 juillet (GABONEWS) – Le gouvernement gabonais a décidé lors du dernier Conseil des ministres de mettre sur pied le « PRODIAG », un projet qui est destiné à la relance de la production vivrière, maraîchère et d'élevage, en vue d'apporter une solution durable aux problèmes de la crise alimentaire mondiale actuelle, notamment au niveau du Gabon.

Selon le communiqué final de ce Conseil, le gouvernement entend mettre sur pied un vaste programme de création et d'exploitations agricoles dans les neuf provinces du pays, en complément d'autres initiatives déjà existantes.

L'impacte attendu de sa mise en œuvre est la création de mille quatre vingt dix (1090) exploitations agricoles et para – agricoles, générant une production additionnelle de treize mille six cent (13 600) tonnes de production maraîchères, vivrière, de viande et de pâte de manioc et un chiffre d'affaire annuel en vitesse de croisière estimé à trois (3) milliards FCFA.

Whiteeclipse

July 17th, 2008, 03:44 AM

New investors to create 63,000 jobs for Ugandans this financial year

The Uganda Investment Authority (UIA) has earmarked some 350 new investments worth about $2 billion this financial year, which are expected to create more than 63,380 jobs for Ugandans.

In an end-of- year investment report released at the media centre in Kampala yesterday, Maggie Kigozi, the UIA executive director, said the new jobs indicate an increase of 10,000 from 53,900 in the last financial year, a move that is largely expected to reduce Uganda’s chronically high unemployment rates.

“Seeing more jobs created is a big push to UIA’s five year investment strategy that we launched last year. We are expecting to create at least one million jobs for Ugandans by 2012 out of the 7,000 planned licensed projects,” Dr Kigizi said.

She said the contribution of investment to the country’s GDP has continued to grow from 17.4 per cent in 2003/04 to 22.5 in 2006/07.
“Further impressive growth rates in the investment contribution to GDP will be driven by higher private investment,” she added.

More employment opportunities for Ugandans means better standards of living, more revenue inflows to the government treasury and eventually higher economic development.

With the Customs Union now in place, companies in the region are now crossing borders, according to Dr Kigozi. Uganda has now licenced 23 companies from Kenya Tanzania and Burundi, which plan to invest $93.7 million and employ more than 3,000 workers.

However, the report indicates a drop in the total planned investment last financial year, which was largely attributed to the post-election crisis in Kenya that almost crippled the region’s economies.

http://www.monitor.co.ug/artman/publish/news/New_investors_to_create_63_000_jobs_68359.shtml

popa1980

July 17th, 2008, 11:27 AM

Im telling you that Croissant was the South African poster who was banned last year for making similar racial posts. I dont believe for one moment that he was black or from Cameroon!

DanteXavier

July 18th, 2008, 03:29 AM

Namibia banks hopes on Angola’s Lobito refinery

Despite Angola recently overtaking Nigeria as Africa’s largest oil producer, its strongest Namibian ally continue to bear the brunt of escalating oil prices.

Namibia, will have to put its hopes of oil supply from Angola on hold as the northern neighbour’s envisaged refinery in Lobito continues to meet obstacles.
Despite their relatively cordial trade relations, Angola and Namibia have never had any remarkable negotiations concerning the possibility of fuel trade. Part of the reason is that Angola produces crude oil, nearly all of which goes to the United States for consumable refineries. Namibia is still banking her hopes on the proposed construction of the refinery in the port city of Lobito, even though the project has suffered continuous setbacks.
In the early 2000s, the US$3 billion project slowed because of the national petroleum entity, Sonangol’s protracted negotiations with strategic partners.
The project also faced opposition in that the refinery would be reliant on the export of at least 90 percent of its output, and would not be able to compete with South African producers on price or delivery.
The latest major blow came just last year, when the Angolan government cancelled negotiations over a deal with Chinese-owned Sinopec to build the refinery.
Sources within the Ministry of Mines and Energy who spoke to Informanté on the condition of anonymity said Namibia hoped that the refinery would enable the supply of refined fuel from its neighbour, but that recent delays had dented such hopes. “The Ministry has now set its eyes to 2010 when the project is likely to be operational,” a source from within the Ministry told Informanté.
Since May this year, Angola has been pumping an average of 1.94 million barrels of oil per day, compared to Nigeria’s 1.9 million barrels. Nigeria slipped into to second place following the recent militant attacks on its oil fields and platforms. Angola joined the Organisation of Petroleum Exporting Countries (OPEC) in 2007.

http://www.informante.web.na:8080/informante/index.php?option=com_content&task=view&id=2464&Itemid=47

DanteXavier

July 18th, 2008, 03:33 AM

Namibia Aims for Own Power by 2013

NAMIBIA will be able to generate enough power to meet local demand by the year 2013, NamPower Managing Director Paulinus Shilamba told Members of Parliament yesterday.

Until then, though, the country needed an additional 200 megawatt (MW) of electricity that would be imported from countries other than South Africa, he said.

Shilamba was briefing the Parliamentary Standing Committee on Economics about the local power supply situation amidst a regional power shortage caused by dwindling reserve capacity in South Africa.

"We are working day and night to find solutions, especially after Cabinet tasked us in May this year to draw up a strategy on the electricity supply up to 2011," Shilamba told the Committee chaired by Swapo MP Peya Mushelenga.

"We submitted the strategy to Cabinet at the end of last month," he added.

"We plan to add 50 MW power generating capacity to the Paratus diesel power station at Walvis Bay over the next six to seven months, which will cost about N$600 million, and add another 100 MW nearby approximately 18 months from now," Shilamba told the Committee.

"Since the price of diesel has skyrocketed recently you can image that these extensions will be very costly to run.

We will not break even, instead the generation cost will be around 110 cents (N$1.10) per kilowatt hour then and these costs must be borne by the consumers."

The two projects would probably be developed with partners from the local mining industry, according to Shilamba, with NamPower to hold a 40 per cent partnership.

He said the N$3,2 billion Caprivi inter-connector line would be completed around September 2009, enabling electricity imports from Zambia.

The installation of a fourth turbine at the existing Ruacana hydropower plant would add another 80 MW, relieving the power squeeze in a year's time.

Shilamba maintained that the long-awaited offshore Kudu gas project would materialise by 2012 with a 450 MW power plant near Oranjemund.

The two partners, Eskom and Tullow Oil, would not budge from their demand to handle Kudu gas and electricity sales in US dollars, however, delaying the development of the project.

In order to buffer the foreign exchange fluctuations, a financial hedging strategy must be developed, Shilamba said.

"Some progress is [being] made, with some of our large mining clients in Namibia having signalled they could be invoiced in US dollars in future," he said.

NamPower was also looking at the construction of 12 small dams and hydropower stations on the Orange River to generate up to 108 MW of electricity.

All these projects, including Kudu, would make Namibia self-sufficient within five years with regard to electricity supply, lessening the dependency on South African imports, Shilamba said.

Touching on nuclear power, he said this was driven by Government but first a policy and legislation had to be drafted and close co-operation with international nuclear bodies was required.

Asked by Swapo MP Clara Bohitile whether the newly created regional electricity distributors (REDs) could not be abolished and municipalities resume local power distribution, Shilamba responded that Government would soon hold a national stakeholder conference on this topic.

http://allafrica.com/stories/200807160699.html

DanteXavier

July 20th, 2008, 03:06 AM

Uganda sees tourism earnings up 5 pct in 2008

KAMPALA (Reuters) - Uganda projects $500 million earnings from its growing tourism sector in 2008, up five percent from last year, a marketing official said.

In 2007 Kampala hosted a meeting of the Commonwealth heads of states (CHOGM) which boosted annual earnings to $475 million and helped tourism surpass coffee as the leading foreign exchange earner, according to the Uganda Tourism Board (UTB).

"We hope for $500 million plus (this year)," said Edwin Muzahura, marketing and public relations manager for the government body. "Last year was a big jump because of CHOGM."

In 2006, the east African country made slightly over $300 million from tourism. It had a total 770,000 arrivals then, compared with 883,000 in 2007. The figures include people visiting for business, conferences and cross-border trade.

Uganda's tourism sector has been dwarfed by that in neighbouring Kenya and Tanzania which have a long tradition as major destinations for travellers to Africa.

Muzahura said Uganda's history had not favoured its reputation.

Its despotic leader Idi Amin -- depicted last year in the Hollywood film "The Last King of Scotland" -- destroyed economic prospects by expelling thousands of businessmen of Asian origin and soured international relations for the country in the 1970s.

"Our history is not very good. Not many people know us for good reasons ... Many know us for the big one, Idi Amin," Muzahura told Reuters in an interview late on Friday.

"It was something negative but we can make something positive out of it."

Uganda is also known for its endangered mountain gorillas.

The UTB estimates the country has more than 400 of the world's remaining 700 mountain gorillas. The rest are in the Democratic Republic of Congo and Rwanda, Muzahura said.

"Not many people know that you can come to Uganda and have a taste of the wild, beauty that is very ancient, and combine that with a very modern state. They still think of Uganda as the place with a lot of war," he said.

The country has battled a brutal insurgency in the north for over two decades, but on-off peace talks have restored some normalcy in the region of late.

The UTB said two investors were looking to put up two hotels in the north, a sign that businessmen were confident of peace.

Although tourism is the leading foreign exchange earner for Uganda, the government has been doing very little to promote it, Muzahura said. His office has been receiving only 360 million Uganda shillings annually from the government budget.

However, President Yoweri Museveni earlier this year enacted into law a bill which allows the tourism board to raise funds from the private sector for its activities.

"That can't really market a country, it can only buy a four-wheel drive car," he said of the meagre budget.

"We've been asking the government, how can we give so little to our biggest forex earner?"

In the past five years, the tourism board had a five million euro European Union grant for its marketing activities which it used mainly in tourism fairs in source markets.

Unlike Kenya and Tanzania which go for the mass market, Uganda targets the high spending travelers niche, Muzahura said.

Many of them have been from the United States and western Europe, but the country is now selling itself in emerging markets such as China and Eastern Europe.

Uganda straddles the equator but enjoys a tropical climate. It prides itself as being the source of the Nile and having Lake Victoria, the second largest fresh water lake in the world.

http://africa.reuters.com/business/news/usnBAN939284.html

DanteXavier

July 21st, 2008, 11:28 PM

Angolan trade with Spain totals 605 million euros in 2007

Luanda, Angola, 21 July – Angolan exports to Spain totalled 441.2 million euros in 2007 and Angolan imports from the Spanish market totalled 164 million euros, the Spanish commercial attaché in Angola, Ernesto Giménez-Burgos said in Luanda.

Speaking to Angolan news agency Angop, Giménez-Burgos said that Spain had imported oil, fish and black granite and Angola had imported industrial mechanical apparatus, vehicles and electrical material.

He added that in the first quarter of 2008 exports from Spain to Angola had increased by 82.4 percent and Angolan exports to Spain by 152.6 percent.

Giménez-Burgos said that, as well as this type of trade, Spain had provided Angola with a 200 million-euro credit line and said it was possible that other loans could be provided in future. (macauhub)

http://www.macauhub.com.mo/en/news.php?ID=5755

DanteXavier

July 21st, 2008, 11:31 PM

Angola’s LNG project expected to produce over 5 million tons per year

Luanda, Angola, 21 July – The Angola LNG (liquid natural gas) project, which is due to be concluded in 2012, is expected to produce 5.2 million tons of gas per year, the director for Local and Government Matters, Modesto Laurentino da Silva said in Luanda.

Speaking to Angolan news agency Angop, he said that preparing and dredging the land had been finished in May and that by the end of 2008 actual construction of the factory is due to begin so that it can go into operation in the first half of 2012.

Angola LNG is being built in Soyo, northern Angola.

In the first half of 2012 production of gas at the Angola LNG project is due to begin, with the company forecasting that 125 million cubic metres of gas will be consumed by the domestic market and remaining production will be exported to the Atlantic basin, particularly the United States.

In the first phase of construction, the project may employ a total of 7,000 people, 60 percent of whom will be Angolan workers.

In the operating phase around 450 jobs will be created and recruitment is already underway for maintenance, operations, instrumentation, human resources, accounting and IT staff. (macauhub)

http://www.macauhub.com.mo/en/news.php?ID=5749

Kenguy

July 24th, 2008, 03:26 PM

Oil in Kenya

Origin detects large oil seeps in Kenyan blocks

Filed from Singapore

24/07/2008 09:44:29 GMT

LAMU, KENYA: A survey commissioned by Origin Energy showed evidence of oil seepage from the sea floor in Kenyan Blocks L8 and L9, according to Origin's partner, Pancontinental Oil & Gas NL.

The slicks in Block L8 are the largest and highest ranked in offshore Kenya and coincide with several main prospects mapped from previous seismic data, Pancontinental said in a statement.

Previous mapping of seismic data from L8 and L9 shows a number of very large geological prospects including the Mbawa prospect, which holds more than five billion barrels of oil in place and seven Tcf of gas in place.

The characteristics of some slicks identified int he survey are consistent with seepages of light oil or condensate.

The offshore blocks are covered by 3,759 kilometres (2,556 miles) of line seismic data. Pancontinental expects to conduct further drilling to establish the size and value of any oil and gas discovery in the two offshore blocks.

Origin Energy operates the two offshore blocks after entering into a farm-in agreement for a 75 percent interest with Pancontinental in September 2006.

Under the terms of the farm-in agreement, Origin is required to fund a seismic programme and the drilling of an exploration well in each block.

http://www.energycurrent.com/index.php?id=2&storyid=12053

abesha

July 24th, 2008, 03:39 PM

Wow! African countries discovering oil left and right lately. Is Pancontinental a Kenyan company?

DanteXavier

July 24th, 2008, 10:08 PM

'Botswana could have up to 8% of world's uranium'

Botswana has the potential to become a major uranium producer and even rival neighbour Namibia in the coming years, A-Cap Resources Managing Director Andrew Tunks said on Wednesday.

Tunks was speaking at the Botswana Resource Conference held at the GICC at which he also said his company was currently exploring one of the largest places of contained uranium.

"Countries next door to Botswana hold about 15 percent of the world's current uranium resources," he said. "(But) Geology doesn't know boundaries, so Botswana will be the next major uranium producer."

Botswana had no uranium resource prior to A-Cap's exploration. While A-Cap held some of the best uranium prospects at Letlhakane, there was "plenty of scope" for others to participate.

Last year, A-Cap published its first uranium resource, 65-million tons at 140 parts per million (ppm) representing about 20-million pounds.

Two weeks ago, it produced its new resource of "nearly 100-million pounds", with a massive increase in tons and a 30 percent increase in grade.

"We expect that Botswana will eventually be shown to host between four and eight percent of the world's uranium resource," he said.

Tunks added that he expected the Letlhakane deposit to eventually be proven as one of the largest uranium deposits found anywhere in the world.

"I am no longer prepared to state at this stage just how big I think this deposit could eventually turn out to be," Tunks said. "However, there is enormous growth potential in the area."

A scoping study will be produced in the next few weeks, which will show that the resource could be mined using the heap-leach mining method.

Tunks' goal was to begin mining in 2011, but he believes he can start a year earlier. He said new trenches had shown mineralisation starting 20cm below the surface.

"You could come out there with a broom and a shovel and you could start mining it," Tunks said.
A-Cap's other interests are near Serule.

http://www.mmegi.bw/index.php?sid=4&aid=23&dir=2008/July/Thursday24

DanteXavier

July 24th, 2008, 10:10 PM

Botswana: Diamond sales up 10% despite US slump

In a period characterised by rising prices and a marginal slump in production, the world's largest diamond miner De Beers has realised a 10-percent sales growth.

Presenting the group's first half-year results in a teleconference from London, Managing Director Gareth Penny said although there was a decline in the traditional market, the US, strong demand from emerging markets such as China, India and the Middle East mitigated the slump.

"The group faced a few challenges in the period, which included the slow down of the US economy as well as the energy challenges in southern Africa, which mostly affected South Africa's production," Gareth said.

"However, strong demand from emerging markets, coupled with rising prices, pushed sales to US$3.7 billion up from US$3.4 billion in the same period last year."

De Beers increased prices by 8.5 percent in April and by a further 5 percent early this month.

Penny also disclosed that the group will be opening three new mines this year, two in Canada and one in South Africa, a goal which, once achieved, the De Beers MD described as a record in the company's history. The Snap Lake Mine in Canada has the capacity to produce 24.6 million carats over 20 years while the Victor Mine has the capacity to produce 6.2 million carats over 12 years. The Voorspoed Mine in South Africa is expected to yield 8.3 million carats over 13 years.

Although the group is looking at opening new mines while aggressively searching for new deposits, Debswana still remains the largest contributor to De Beers' production. For the first six months of this year, De Beers mined a total of 24.2 million carats of diamonds, of which 16.1 million came from Botswana, followed by South Africa's 6.3 million carats.

The company is also focusing on its large priority projects which are rapidly moving from early to advanced stages of exploration in countries such as Angola, the DRC, Botswana, Canada and others in India, South Africa, Namibia, and Russia which are still in the early stages of exploration.

Presenting the group's financials, Finance Director Stuart Brown said underlying earnings rose 8 percent to $350-million, while earnings before interest and tax rose 31 percent to US$831 million.

Operating costs rose by a slight 4 percent in the period under review. "Fixed assets, on the other hand, went down slightly from US$3.89 billion to US$3.75 billion, while gearing on the other hand increased by 1 percentage point to 49.4 percent.

Although the company said it was satisfied with its performance in the first half, Chairman Nicky Oppenheimer said economic conditions would require a more cautious outlook for the second half of 2008.

"Mass market retail diamond jewellery sales have been impacted by economic issues in the US market, which accounts for about half of all our diamond sales," Oppenheimer said.

"While demand for high-end diamonds is likely to remain robust, the smaller, lower qualities, which are more dependent upon US demand, are expected to remain subdued."

In a statemenet acompanying the results, De Beers also announced some board changes in which Dr Atlholang Tombale, a nominee of the Government of Botswana who resigned from the board on May 6,2008 was replaced by G. Gabaake on May 7, 2008.

Gabaake was also appointed a member of the Environment, Community, Health and Safety Committee.

http://www.mmegi.bw/index.php?sid=4&aid=22&dir=2008/July/Thursday24

DanteXavier

July 24th, 2008, 10:18 PM

Togo electricity production to double

Investments in a new power plant in Lomé, Togo, will double the country's capacity to produce electricity. The new power plant, using innovative technology, is to be fully operational by the end of 2009.

Two companies, US-based ContourGlobal and Finland-based Wärtsilä, confirm that they been awarded supply agreements for the new Lomé power plant. Wärtsilä yesterday revealed it was to "supply a 100 MW power plant to Togo to produce electricity for the national grid." ContourGlobal has been awarded the contract for the construction and operation of the power plant.

The power plant is the largest electricity investment ever made in Togo. When operational, the plant is set to significantly diversify Togo's power generation portfolio and supplement the country's hydroelectric power during the dry season. The electricity investment is set to double the country's generating capacity.

The "tri fuel" 100 MW project, expected to be operational at the end of 2009, will be powered by six Wärtsilä engines (16.6 MW each), which are capable of operating on natural gas, heavy fuel oil, and distillate diesel oil-permitting instantaneous fuel switching capability. "The plant will deliver the same output on all three fuels. This way, the power plant can always use the cheapest and the most readily available fuel," according to Wärtsilä.

"The tri-fuel capability of the engines was a key factor in being awarded the contract, in addition to the fact that the Wärtsilä 50DF engine offers high output, low emission rates, first class efficiency, and excellent reliability," according to Tony van Velzen, Regional Director for Africa of Wärtsilä.

The projected plant plans to run on heavy fuel oil until natural gas becomes available via the West Africa Gas Pipeline in construction. The project is set to produce over 780 GWh of electricity and help the West African nation and the broader region overcome an electricity shortage that has resulted in rolling blackouts and inhibited its economic growth.

http://www.afrol.com/articles/29958

DanteXavier

July 24th, 2008, 10:23 PM

Maurel & Prom Announces Oil Discovery in Gabon

The exploration well OMKO-1, formerly named Alonha-C and located at 6km East of the Onal field (3.6km East of the production center), has been drilled at a 1,800m depth.

The OMKO-1 well met two oiled standstone intervals in the following geological formations:
- The Kissenda over 56 m, a new subject in this area of Gabon. This level reached an eruptive production of 3,050 b/d on a 40/64’' choke with a 595 psi head pressure.
- The Base Sandstone over 43.5 m, a topic that Maurel & Prom has already highlighted in Congo with the M’Boundi and Kouakouala fields and in Gabon with the Onal field. This level reached an eruptive production of 2,460 b/d on a 32/64’' choke with a 660 psi head pressure.

In both cases, the oil is between 35.7 and 36.7° API.

This oil discovery in Gabon by Maurel & Prom validates the exploration subjects in the sedimentary basin in the North-East area of the Onal field. This well will be immediately followed by the exploration well OMBG (ex Alonha B). Other exploration wells are scheduled in this area, and amongst them Alonha A, Onal East and Maroc.

Simultaneously, the drilling of the exploration well N’Zamo will be resumed in order to study the South-West area of the field.

Depending on rigs availability, Maurel & Prom will undertake the appreciation of this discovery by the end of the year.

Maurel & Prom, operator, owns 100% of the exploration permit Omoueyi, signed on September 27, 2005, with the Gabonese State. The Gabonese State has right of return of 15%.

The production figures above are raw data that includes the share of the Gabonese State.

Review all our latest West Africa news and company profiles

http://www.oilvoice.com/n/Maurel_Prom_Announces_Oil_Discovery_in_Gabon/18ef70f0.aspx

DanteXavier

July 25th, 2008, 10:08 AM

Madagascar's Economy to Grow 7% on Tourism, Mining, Bank Says

July 24 (Bloomberg) -- Madagascar's economy will probably expand 7 percent this year, boosted by increased tourism and investment in the mining industry, the central bank said.

Growth will accelerate from about 6.3 percent last year, Honore Randrianarison, research director at the Antananarivo- based Central Bank of Madagascar, said in a telephone interview today.

``There's a lot of growth in tourism and there are some major investments in our mining sector,'' Randrianarison said.

The island nation off the southwest coast of Africa will grow at an average of 8 percent until 2011, the International Monetary Fund said in February. Madagascar mines sapphires, cobalt and tin, according to Randrianarison.

http://www.bloomberg.com/apps/news?pid=20601116&sid=akBZ5vKxcEIo&refer=africa

DanteXavier

July 25th, 2008, 10:11 AM

Namdeb to spend R750m on coastal exploration as inland deposits decline

Namibia’s largest diamond-miner, Namdeb, says it is investing R750-million in new exploration activities along the shores of the Atlantic coast as it shifts its focus from declining inland diamond deposits.
NamDeb, a 50:50 joint venture between global diamond-miner De Beers and the Namibian government, says that the future of the diamond-miner now hinges on alluvial deposits owing to the declining carat profile of its inland concessions.

Land-based production is expected to decline by half by 2010, and diamonds from marine operations are expected to shore up the company’s production profile and balance sheet.

Namdeb group external affairs manager Hilifa Mbako says that the company is investing a huge chunk of its exploration budget in sampling and the development of technology to make the new exploration push a reality.

Mbako says that the diamond-miner is targeting virgin exploration ground, adding that areas targeted so far have the potential to deliver up to 500 000 ct/y.

He adds that exploration is targeting the beach areas along the Atlantic coast and shallow and midwater areas from the beach going a few hundred metres into the sea. All the areas fall within the company’s land licence areas.

Namibia is the only country where diamonds are mined from the seafloor and De Beers is planning a similar operation in South Africa.

“Exploration activities are mainly in the Sperrgebiet area, in diamond area number one, where Namdeb licences are held,” Mbako says.

“Carats on land are depleting and diamonds are not renewable. We are faced with a declining carat profile,” Mbako says.

He reports that Namdeb is also drilling for diamonds in the eastern parts of the country, in areas such as Kavango and the eastern Caprivi region, but the scope of this exploration does not fall under the ambit of the R750-million programme.

Seven geophysical anomalies have reportedly been selected for drilling on two exclusive prospecting licences (EPLs) in north-eastern Namibia.

Namdeb has been conducting various geographical surveys, as well as soil and stream sediment sampling over the area covered by the EPLs.

To date the company has identified 15 genuine airborne geophysical anomalies, which were subsequently tested in 2007 by various ground-based geophysical surveys.

While analysis of the ground-based surveys continues, seven drilling targets have been recommended and drilling is under way, although no results are available yet.

Diamond-mining accounts for 8% of Namibia’s total gross domestic product and about 38% of its primary industry output.

http://www.miningweekly.com/article.php?a_id=138385

Kenguy

July 26th, 2008, 10:05 AM

Wow! African countries discovering oil left and right lately. Is Pancontinental a Kenyan company?

I don't think its Kenyan.

DanteXavier

July 27th, 2008, 04:16 AM

World Bank praises Angola's good governance, fast economic growth

LUANDA, July 22 (Xinhua) -- The World Bank here on Tuesday praised Angola for good governance, fast economic growth and maintenance of peace, stability and security.

"We are here to congratulate the President of the Republic, Jose Eduardo dos Santos, for his contribution to stability and good macroeconomics governance," said Ngozi Okonjo, managing director of the World Bank.

She said the World Bank is satisfied with the steps taken by the Angolan government in the social peace and stability achieved after the decades-long civil war which ended six years ago.

She added that Angola's economy has been growing fast, registering a 25 percent increase in the first half of this year.

She said the World Bank will assist the Angolan government to carry out projects in sectors of health, education, energy, agriculture and fisheries.

http://news.xinhuanet.com/english/2008-07/23/content_8751012.htm

Carver02

July 27th, 2008, 04:58 AM

Xusein

July 27th, 2008, 06:15 AM

It's crazy to see countries all over Africa discovering oil.

I'm heavily confident that there's oil in Somalia. Off-shore too. Too bad leaders there are stupid. :no:

Kenguy

July 27th, 2008, 09:57 AM

It's crazy to see countries all over Africa discovering oil.

I'm heavily confident that there's oil in Somalia. Off-shore too. Too bad leaders there are stupid. :no:

If its in Lamu, its probably offshore in Southern Somalia too. It may be a good thing since now other countries will have a good reason to try and restore a sense of order in the country.

Kenguy

July 27th, 2008, 10:04 AM

I hope they will use some of the natural gas to generate electricity.

I hope so too, though the only country in the region that is actively exploring that mode of electricity generation is Tanzania since they have natural gas reserves. Word is also going round that there might be some oil around Zanzibar but its yet to be proven.

skipperBill

July 27th, 2008, 05:03 PM

It's crazy to see countries all over Africa discovering oil.

I'm heavily confident that there's oil in Somalia. Off-shore too. Too bad leaders there are stupid. :no:
there is definitely some oil potential in Somalia. both off-shore and on shore.
Puntland state recently sold some concessions for oil exploration : article link (http://www.oilvoice.com/n/Africa_Oil_Begins_Puntland_Seismic_Acquisition_Programme/f8d2fc1a.aspx)

Pule

July 29th, 2008, 09:57 AM

Mozambique's HCB plans new power station

By: Reuters
Published: 28 Jul 08 - 17:19

Mozambique's major dam operator, Hydro-electric Cahora Bassa (HCB) is negotiating with the government to build a new power station that could increase power supplies to neighbours, its chief executive said Monday.

HCB CEO Paulo Muxanga told Reuters in an exclusive interview the company had exhausted the maximum capacity of power it could produce from its generators on the southern bank of the Cahora Bassa river. It is therefore seeking government approval to build additional generators on the northern bank.

"We have proposed to the government to go ahead with the building of new generators or power stations in the northern banks of the river because we have exhausted all our capacity in the southern banks, we are awaiting government approval for that to happen", he said.

HCB, which suffered from decades of neglect and lack of investment, currently provides 60 percent of its power to South Africa's Eskom and 35 percent to the Zimbabwe Electricity Supply Authority (ZESA).

Mozambique consumes the remaining 5 percent and only 15 percent of the country's 20-million people have access to electricity.

The move to build an additional power station is likely to increase Mozambique's capacity to export electricity to other southern African countries affected by a power crisis in the region.

On Sunday, ZESA, the Zimbabwe state power utility, reportedly said it was negotiating with its Mozambican counterparts to get additional supplies following the refurbishment and subsequent increase in generation capacity of the Cahora Bassa power station.

"Yes (ZESA) is negotiating with us, but unfortunately we do not have extra power to sell to neighbouring countries at the moment unless we go to the second phase of building new generators or power stations in the northern banks of the river", Muxanga said.

Cahora Bassa has the potential to generate 14,000 megawatts of power but currently produces 2,075 MW.

Officials say getting it to its maximum capacity would require major investment, which the company has sought from foreign financiers.

Edited by: Reuters

Pule

July 29th, 2008, 10:03 AM

Moz-SA pipeline owner still targets 2010 as completion date despite delays

By: Matthew Hill
Published: 25 Jul 08 - 13:59
Despite delays to the start of construction, privately owned Petroline was still hoping to deliver its crucial petroleum products pipeline from Maputo to Nelspruit around the time of the FIFA 2010 World Cup, MD Johan de Vos told Engineering News Online at the weekend.
By this time, a recent report showed that there would be one 40 000 l petrol truck leaving South Africa's ports for inland areas every 5,2 minutes, owing to the shortage of piping infrastructure.

The company was still working to secure environmental approval, with which it had made "very good progress", and was putting in effort to prepare for a swift start to construction once it had final the authorisations.

"We are still optimistic that we will be there in the first half of 2010," De Vos stated by phone of the R4,2-billion project that would be the first privately-owned petroleum pipeline to be built in South Africa since the 1960s.

He had previously hoped for construction to start by winter this year, but said that the company had "been working very hard behind the scenes" to ensure that the it could put the project out to tender soon after final approvals.

"We have also been doing a lot of work on [securing] long-lead items," De Vos added.

The commissioning of the pipeline was seen as crucial to South Africa's inland fuel supplies in 2010, which was the year that experts predicted a fuel shortage could sweep through Gauteng, owing to a lack of transport capacity.

A report that Petroline compiled a couple of months ago stated that the current petroleum products pipeline from Durban to Gauteng was operating at its capacity of some three-billion litres a year, with an additional one- to two-billion litres of fuel transported via road or rail in 2007.

And, the amount of petrol sent by road or rail was set to rise to four-billion litres by 2010, or 33% more than by the current pipe's capacity.

"In the third quarter of 2009 we are expecting that South Africa won't be able to supply our inland [fuel] needs unless something drastic is done," Reuters quoted Department of Minerals and Energy (DME) deputy director-general of hydrocarbons and energy planning Nhlanhla Gumede as saying last month.

Meanwhile, State-owned Transnet was also still hoping to open the tap on its new petroleum products pipeline from Durban to Gauteng in September 2010.

CEO Maria Ramos earlier this year acknowledged that mitigation strategies would have to be implemented before that time.

Transnet Pipelines had been working with the liquid-fuels industry, as well as the DME and Energy, on a "range of mitigating strategies" for the interim period while the pipelines are being built.

One of these remedies included the introduction of drag-reducing agents to improve the efficiency of the existing pipeline network, which was already operating at full capacity. Also being interrogated were rail-based transportation solutions, including the purchase of specialised wagons to move fuel inland.

Edited by: Mariaan Olivier

DanteXavier

July 29th, 2008, 02:01 PM

US, Namibia sign N$2,3b development deal

NAMIBIA and a US development agency yesterday signed a five-year development assistance programme for education, tourism and agriculture worth US$304 million (N$3,2 billion).

The deal was signed after three years of negotiations and the selection of different projects that will benefit.

These include teacher training, printing of school textbooks, improved management of the Etosha National Park, marketing of Namibia as tourism destination, eco-tourism in communal areas and diverse land and livestock support programmes in rural agriculture.

About N$300 million will be used for administration, office and staff to monitor the projects over the five-year period.

"The objectives of the Millennium Challenge Corporation (MCC) of reducing poverty through economic growth was worked in well with Namibia's own development plans," said Peter Katjavivi, the new Director General of the National Planning Commission (NPC).

"Although the MCC projects for Namibia are ambitious and a challenge to fully implement within five years from now, I am confident we will achieve this."

The Deputy Chief Executive Officer of the MCC, Rodney Bent, said Namibia was the 18th country to receive MCC funding.

"This is remarkable since Namibia has now been independent for 18 years," he said.

The Education and Training Sector Improvement Programme (Etsip) will receive N$1 billion and the tourism sector N$502 million, of which N$303 million will go to the Etosha National Park.

Agricultural projects like land access and communal land management, livestock support and the advancement of indigenous plant resources like marula and hoodia will altogether receive approximately N$352 million.

http://www.namibian.com.na/2008/July/national/081A5E0E52.html

DanteXavier

July 29th, 2008, 02:05 PM

South Africa and Ghana to increase trade

South Africa and Ghana are expected to foster their relationship and increase trade amongst them following the signing of a Memorandum of Understanding (MOU).
The agreement, which was signed by the parties in Nelspruit, follows earlier meetings between Ghana's trade delegation consisting of some of the countries top businessmen and South Africa’s Mpumalanga Economic Growth Agency.

An Sabcnews.com report last week said the meetings were aimed at facilitating business partnership between the two countries.

The report further said the agreement will provide import, export, and trade and investment opportunities for businesses from both countries.

The agreement will mainly focus on the agriculture, tourism and energy sectors which have been identified as areas with huge potential growth.

The political stability, economic growth and a government that is committed to trade is making Ghana a preferred business destination in Africa.

The Executive Secretary of the Ghana Export Promotion Council, Collins Boateng, says: “This agreement is going to encourage business relations … we want a partnership between businesses from Mpumalanga and Ghana and we will facilitate that. We will do it by fielding businessmen to participate in promotional activities in Mpumalanga and help to identify businesses in Mpumalanga and visa versa.”

The agreement is also expected to assist South Africa to reach its millennium development goal of halving unemployment by 2015, while businesses in Mpumalanga continue to benefit as well.

Business giants such as MTN and Shoprite are already trading in Ghana. Soon, products from Mpumalanga are expected to be traded there as well.

http://www.africanews.com/site/list_messages/19660

Pule

July 29th, 2008, 03:05 PM

Kenya seeks to transform its relationship with SA

Posted to the web on: 29 July 2008
Luphert Chilwane

KENYA is working on changing its strategic relationship with SA into a sustainable partnership as the east African country looks to speed up economic development.

Kenyan high commissioner Tom Amolo says the country is picking up the pieces after political turmoil this year affected its economy.

Kenya’s tourism industry fell 80% because of political instability. Amolo said economic growth used to be 7%, but now it was 4,6%.

Despite that, he said, “we believe we have a sound and broad-band economic viability, and we have a strategic position, being a country in the east of the continent”.

“The recent political violence in our country has negatively impacted our economy, especially tourism, agriculture and transportation.

“Farmers are no longer farming, and we had to face a serious maize shortage.

“Maize is a staple food in Kenya. We are engaged in talks with SA for the possible importation of maize,” he said.

Kenyan authorities decided to organise an economic exhibition, the Kenya Trade Fair and Conference, to take place in SA in September, to enable Kenyans to come and show what they have, and to provide opportunity for them to “interact with South African counterparts” on business issues.

Amolo described the current trade between the two countries as viable, and he said Kenya exported goods and services to South Africa worth R278,6m while imports from SA stood at R5bn a year.

He said the whole world was watching the progress of the recently formed coalition government, and he was optimistic that this government would succeed.

“The world seems to be saying, ‘we want to help Kenya to strengthen and revamp its economy through our Economic Recovery Strategy 2030 vision’, and SA is already doing that,” Amolo said.

He identified tourism, agriculture, wholesale and retail, manufacturing, business process outsourcing and financial services as the six areas for trade outlined in the country’s 2030 vision.

“SA is a friend, is a strategic partner and a stable country for business, and as Kenyans, we want to deepen this partnership even beyond business,” Amolo said.

He rejected as untrue the perception that South African citizens were hostile and xenophobic towards foreign nations.

“Our experience has proven that they are welcoming people, and this will never change.”

He said there was “an immense political stability in Kenya” and encouraged South African businesses to “come and invest while also exploring the cultural diversity of the Kenyan people”.

Xusein

July 30th, 2008, 07:01 AM

If its in Lamu, its probably offshore in Southern Somalia too. It may be a good thing since now other countries will have a good reason to try and restore a sense of order in the country.

there is definitely some oil potential in Somalia. both off-shore and on shore.
Puntland state recently sold some concessions for oil exploration : article link (http://www.oilvoice.com/n/Africa_Oil_Begins_Puntland_Seismic_Acquisition_Programme/f8d2fc1a.aspx)

Actually, when I think about it, I don't want them to discover oil in Somalia.

It'll just give them another BS excuse to continue fighting. :banana:

DanteXavier

August 2nd, 2008, 12:56 AM

Botswana may produce first uranium in 2010, become second Nambia – Acap CEO

Uranium mineralisation is so close to surface that one could mine with a “broom and a shovel”, says Australian uranium explorer Dr Andrew Tunks of parts of Letlhakane, in Botswana, where independent consultants have delineated a 100-million-pound resource in half the time scheduled.
Acap CEO Tunks predicts that where Acap is exploring will “certainly be one of the largest places of contained uranium anywhere”.

Uranium mineralisation in some trenches begins at a mere 20 cm below surface.

“It’s material you can pick up and crush in your hand. “It’s a massive resource with great scope to grow and we’ll be talking to the government on how to fast-track this and maybe getting into production by 2010,” Tunks says.

Envisaged is a simple digging up of the near-surface oxide material, placing it on a pad and leaching out the uranium.

Acap, which is listed on the Australian and Botswana stock exchanges with a market capitalisation of $40-million, set itself a 2008 goal of finding 100-million pounds, but did so by half year with a pre-dominantly Botswana staff.

It has new projects, some still unworked, including one in the north-west part of Botswana with similar mineralogy to that of Langer Heinrich, in neighbouring Namibia.

Its Letlhakane flag-ship is 70 km from Francistown and 350 km from Gaborone.

Transport, power and water infrastructure lies close to Acap’s 150-km2 radiometric anomaly at Letlhakane, where the younger Karoo sediment hosts uranium and older rock copper and nickel.

Ten Years of Mining

Tunks estimates 40-million pounds of uranium in the near-surface oxide material alone, which will be the initial focus, representing ten years of mining.

The 100-million-pound resource, announced four weeks ago, showed a 330% tonnage increase and a 30% grade increase over the initial 20-million-pound resource published in December 2007.

“We’ve touched less that 20% of the radioactive anomaly. It would be my guess that this will be one of the largest places of contained uranium anywhere in the world. “It’s a very, very substantial deposit, albeit of low grade, with enormous potential to grow,” he says.

Financial modelling will be released this month, followed by a move into prefeasibility stage to update the resource from inferred to indicated.

Testwork in the eighties yielded recoveries of more than 90% from the oxide material and Acap’s preliminary testwork suggests similar recoveries.

Every hole drilled has produced water and low-energy heap leaching is being considered, along with a primary crusher.

“The scoping report will show that we can mine this and make money. “I am very confident about that. And we will be working towards production in 2010, one year ahead of original schedule,” Tunks reiterates.

He says that Botswana is destined to become a second Namibia, where uranium mining is vibrant.

“We hold some of the best ground for the exploration of uranium in Botswana. “But I believe there is plenty of scope for others to be involved and to participate. “We believe there is enough around for plenty of players,” he says.

http://www.miningweekly.com/article.php?a_id=139111

Kwame

August 4th, 2008, 01:18 PM

Great news! I just really hope that Botswana and their peopel will profit greatly off their natural resources, and not just the people at the top. :ohno:

Matthias Offodile

August 4th, 2008, 08:45 PM

Some more good news about oil sector in Gabon

VAALCO Installs Ebouri Platform, Looks to Drill in Gabon

VAALCO Energy Friday, August 01, 2008

VAALCO announced that it has completed the installation of the production platform at its Ebouri field in offshore Gabon, Central Africa. The platform has been tied back via pipeline to the Floating Production, Storage and Offloading (FPSO) facility that also serves VAALCO's Etame and Avouma / Tchibala fields. With the installation of the platform complete and the pipeline successfully tested, VAALCO confirmed that it remains on schedule to commence drilling the Ebouri development well, with oil production expected in December 2008 at an initial rate of 4,000 to 6,000 barrels per day, as previously announced.

http://www.rigzone.com/images/news/library/maps/3/4759_120x100.jpg
Ebouri Field

The Company also announced that the jack-up drilling rig, Pride Cabinda, is expected to be on location by late September/early October to drill three exploratory wells on the Etame concession. These exploratory wells include an appraisal well (North Ebouri) for possible expansion of the Ebouri development project and two additional wells (North Etame and South East Etame) on newly mapped structures. The wells will be drilled back to back and have combined gross reserve potential additions in excessof 160 million barrels.

Onshore Gabon, VAALCO remains on schedule to commence drilling the first of two exploratory wells in December on VAALCO's wholly owned Mutamba concession.

"We are making good progress in bringing production online and exploring new opportunities for growth," said Robert L. Gerry, III,Chairman and CEO. "With our platform installed and connected to our FPSO on time and on budget, we now have key infrastructure in place to begin new production at Ebouri as planned. The work under way in our Ebouri and Etame fields, together with additional exploratory wells in Angola and the North Sea, offers the prospect of significantly increasing shareholder value through the addition of new reserves."

And Shell has signed a big contract spanning 20 years of future exploration activities in areas which have not been explored before! So more oil will be found in the next years and decades ahead:cheers:

Gabon : C’est reparti pour 20 ans avec Shell Gabon

La convention d’établissement de la compagnie pétrolière anglo-néerlandaise Shell au Gabon a été renouvelée pour 20 ans par l’Etat gabonais le 1er août dernier à Libreville. Les termes de la convention remaniés conformément aux normes internationales permettent notamment un renforcement du contrôle et de la participation de l’Etat gabonais aux activités de la compagnie sur le territoire national, qui ont dégagés en 2007 une moyenne de 10 500 barils par jour.

Un partenariat renforcé a été entériné le 1er août dernier entre la compagnie pétrolière Shell Gabon et l’Etat gabonais, avec le renouvellement de la convention d’établissement de l’opérateur anglo-néerlandais sur le territoire national.

Réunis à Libreville autour du chef de l’Etat, le Premier ministre, Jean Eyeghe Ndong, le ministre en charge du Pétrole, Casimir Oyé Mba, le ministre des Finances, Paul Toungui et le président directeur général de Shell Gabon, Hans Bakker, ont ratifié le document qui proroge l’établissement de la compagnie au Gabon pour vingt nouvelles années.

La convention fixe le régime juridique et fiscal des activités d’exploitation et d’exploration des hydrocarbures sur les titres miniers octroyés à Shell Gabon et définit son régime propre, celui de ses affiliés et de ses actionnaires.
Le nouveau document concerne également la gestion de l’oléoduc et du terminal pétrolier de Gamba, le champ pétrolier de Gamba-Ivanga opéré par Shell Gabon qui en détient la totalité des parts, ainsi que ceux de Coucal et Avocette, opérés par Total Gabon mais dont Shell Gabon détient 32,5% des parts.

Les termes de ce nouvel avenant permettent de «favoriser les activités d’exploration et de production des hydrocarbures ; d’accroître la part des revenus de l’Etat, notamment par le relèvement significatif du taux de l’impôt sur les sociétés, par l’introduction d’une parafiscalité et par la réactivation de la provision pour investissement diversifiés (PID), et de la provision des investissements dans les hydrocarbures (PIH)» a indiqué le ministre des Mines en charge du Pétrole.

Il permet également «de privilégier l’emploi et la formation du personnel gabonais ainsi que l’utilisation des biens et services fournis par des entreprises et ressortissants gabonais ; d’encourager les actions de développement rural afin de contribuer à l’amélioration des conditions de vie des populations vivant à proximité des sites d’opération ; de renforcer les moyens de contrôle et de suivi des opérations pétrolières par l’Etat et enfin de moderniser la convention d’établissement afin de l’adapter au contexte actuel et aux meilleures pratiques en vigueur dans l’industrie nationale et internationale», a poursuivi Casimir Oyé Mba.

«Nous pensons que c’est ensemble que nous pourrons continuer à relever les défis à venir par le dialogue et la concertation permanente» a déclaré le président directeur général de Shell Gabon, Hans Bakker.

Espérons que cette nouvelle convention va donner un coup de fouet à ce secteur, notamment en matière de recherche pour contrer la baisse tendancielle de la production pétrolière dont le revenu constitue l'essentiel du budget de l'Etat.
Publié le 04-08-2008

Matthias Offodile

August 4th, 2008, 08:46 PM

Ethiopia attracts $8 billion investments

afrol News, 4 August - During the past six months, the government of Ethiopia has attracted over US $8 billion worth of investment by issuing licence to foreign investors in agriculture, construction, hotel and tourism sectors.

An annual report by the Ethiopia's Investment Agency said investors will also venture in real estate development, manufacturing, education, health, power generation and many others.

However, foreign investors are banned from venturing into sectors such as telecommunications, banking and insurance businesses.

The investors are expected to implement more than 1,500 projects across the country, creating jobs for more than 836,000 people.
:cheers:
According to the agency, the current year's total capital investment is US $3 billion more than that of the previous year.

The licenced investors, who are believed to have been magnetised by Ethiopia's investment alternatives and lucrative incentives, hailed from Europe, Asia, the United States, Middle East and Africa.

By staff writer

Matthias Offodile

August 5th, 2008, 11:01 PM

Gabon-France Relations

Wimax will be available in Gabon in Septemebr 2008

Gabon : Bolloré Télécom arrive avec son réseau Wimax

Bolloré Télécom qui détient vingt licences régionales a débuté à Paris des tests en situation réelle. C'est le camping du Bois-de-Boulogne qui bénéficie ainsi d'un accès Wimax, depuis la tour de la société située à un petit kilomètre de là. La capitale gabonaise devrait bénéficier dès le mois de septembre de l'implantation de premiers points d'accès Wimax.

Bolloré Télécom effectue ses premiers tests Wimax en ce moment sur Paris. Le groupe a en effet implanté une antenne Wimax sur sa tour, visant le camping du Bois de Boulogne, à un kilomètre de là.

Les résultats sont corrects selon le journal Libération, puisque le débit annoncé est de 1 à 2 Mbps, pas très impressionnant mais généralement suffisant pour une navigation confortable.

Le groupe Bolloré a acquis il y a deux ans, pour 78 millions d'euros, douze licences régionales Wimax. Il en a racheté récemment huit à TDF, obtenant de fait une licence quasi-nationale.

Si Bolloré Télécom s'était engagé à couvrir plusieurs centaines de sites rapidement, la réalité est très éloignée des objectifs. Le groupe se défend en s'en prenant aux équipementiers qui lui auraient assuré que " tout était prêt " dès 2006.

La technologie n'est de plus pas encore certifiée : il faudra attendre le quatrième trimestre de cette année pour cela. Marc Taieb, président de Bolloré Télécom, se veut rassurant sur ce front et annonce un investissement à hauteur du milliard d'euros, contre les 400 millions originellement prévus

Dans un premier temps, même si aucune date n'a été donnée, le groupe envisage d'investir dans des "niches" : stations de ski, ports de plaisance... avec à la clé accès Internet et téléphonie mobile. Bolloré assure vouloir développer rapidement un réseau quasi-national.

Le groupe ne compte pas uniquement sur le territoire français pour utiliser ses technologies Wimax : Libreville, capitale du Gabon, devrait ainsi voir s'implanter, dès le mois prochain, de premiers points d'accès Wimax.

Publié le 05-08-2008 Source : Gaboneco.com

Matthias Offodile

August 5th, 2008, 11:05 PM

This is very good news!!:cheers::cheers:

Gabon : Libreville initie le développement des infrastructures locales

Dans le cadre des Travaux d'intérêt public pour la promotion de l'entreprenariat et de l'emploi (TIPPEE), Libreville a procédé en fin de semaine passée au lancement officiel du Programme de développement des infrastructures locales (PDIL). L’inauguration officielle du chantier au quartier Cocotiers a permis aux responsables du programme d’annoncer les prochaines étapes de ce projet qui devrait permettre d’améliorer les conditions de vie et de travail des populations des quartiers sous intégrés de Port-Gentil, Franceville, Oyem, Lambaréné et Mouila.

Le PDIL passe au concret. Réunis au quartier Cocotiers en fin de semaine passée, les responsables de tutelle, les élus locaux et les partenaires au développement ont officiellement procédé au lancement du Programme de développement des infrastructures dans les quartiers sous-intégrés des principales villes du pays.

Initié dans le cadre des Travaux d'intérêt public pour la promotion de l'entreprenariat et de l'emploi (TIPPEE), le PDIL vise la création ou le renforcement des infrastructures de proximité dans les quartiers sous-intégrés, pour améliorer les conditions de vie et créer des conditions favorables au développement de l’activité socio économique de ces quartiers.

Le lancement effectif des travaux intervient après la préparation des dossiers d’études techniques, les appels d’offres, la sensibilisation des parties prenantes et la signature des marchés, pour mettre à exécution ce projet du gouvernement financé grâce au soutien de la Banque mondiale.

Le ministre délégué au Plan, Célestin Bayogha, et le secrétaire permanent de TIPPEE, Richard Damas, ont salué le lancement des travaux dans le cadre notamment de la réalisation de la feuille de route du gouvernement.

Le 4e adjoint au maire de Libreville, Léandre Nzué, a souhaité que ce programme soit étendu aux autres quartiers de la capitale étant donné le besoin pressant des populations à accéder à ce type de services dans de nombreux quartiers.

La convention de prêt pour le PDIL a été signée avec la Banque mondiale le 6 juin 2006 pour un montant de près de 112,5 milliards de francs CFA. La contrepartie gabonaise qui s’élève à environ 50 milliards de francs CFA, est inscrite au budget du ministère au Plan.

Le Représentant résident de la Banque mondiale, Olivier Frémond, a témoigné la volonté de son institution à soutenir de ce programme pour une probable extension.

Après Cocotiers, les travaux devraient se poursuivre à Atong Abè, Bellevue et Kingélé pour l’étape de Libreville. A Port-Gentil, le PDIL interviendra dans les quartiers Balise et Quartier Sud.

A Franceville, il prendra en charge l’aménagement du quartier Mangoungou et le quartier Tsouka à Mouila. Les quartiers Grand village et Château de Lambaréné sont également concernés par le programme, alors qu’à Oyem, c’est le quartier Nkomayat qui en bénéficiera.

Publié le 05-08-2008 Source : Gaboneco.com

MBA-Congo

August 10th, 2008, 01:14 AM

http://www.youtube.com/watch?v=AcXKv...eature=related, Africa needs to rise up!!!

MBA-Congo

August 12th, 2008, 07:52 PM

Libya signs $300 million pipeline deal with DR Congo
Tue 12 Aug 2008, 12:57 GMT

[-] Text [+] TRIPOLI (Reuters) - Libya Oil Holding Company, Tripoli government oil investment arm in Africa, had won a $300 million deal in Democratic Republic of Congo to build oil storage and control facilities and pipeline, its chief executive officer said on Tuesday.

The contract, part of the company's expansion plan on Africa, involves setting up oil storage, control station facilities near Banana area on the country's Atlantic Coast from where the 140 km (87.5 miles) pipeline would carry petroleum products onto DC Congo, Ali al Shamekh added.

The Company also acquired the retail business of Royal Dutch/Shell in Ethiopia, Djibouti and Sudan, Shamekh said, without giving further details on the deal over 230 petroleum distribution stations in the three countries.

"The deal to buy Shell operations is consistent with Libya Oil Holding Company's global strategy to expand business in Africa," he said.

MBA-Congo

August 12th, 2008, 09:12 PM

Southern Africa: SADC Heads of State to Launch Free Trade Area

BuaNews (Tshwane)

12 August 2008
Posted to the web 12 August 2008

Bathandwa Mbola
Pretoria

As part of the Southern African Development Community's (SADC) efforts to deepen long term regional economic integration, the organ will on Sunday launch the Free Trade Area (FTA).

To be held under the theme, "Free Trade Area for growth, development and wealth creation," the 28th summit will be held in Sandton, on Saturday and Sunday.

It will be preceded by the Council of Ministers meeting on Thursday and Friday, and the meeting of the Ministerial Task Force on Regional Economic Integration on Wednesday.

Briefing reporters on Tuesday, at the Union Buildings ahead of the summit, Trade and Industry Minister Mandisi Mphahlwa said the launch of the FTA would formalise the elimination of trade tariffs among SADC member states, enhance economic integration and create bigger regional markets.

"The launch of the FTA is the beginning of a process we need to embark on to build both our productive and trade capacity, improve competitiveness of our industries and address the supply-side constrains that inhabit us from benefiting our agriculture and industrial base to promote intra-regional trade," said Mr Mphahlwa.

The launch of the FTA comes after the adoption of the 1996 Maseru Trade Protocol, which entered into force in January 2000 that paved a way for the FTA over a period of eight years.

Mr Mphahlwa told reporters that the FTA has been noted to the World Trade Organisation and an examination was done during the meeting of the WTO Committee on Regional Trade Agreements held in May 2007 in Geneva.

He noted that more work needed to be done to consolidate the FTA and make it work by addressing non tariff barriers, including trade facilitation measures, harmonising industrial and competition policies and liberalising of trade in services.

"The focus going forward should be on addressing the real economic constraints that hinder deeper integration in our region," Mr Mphahlwa explained.

He added that infrastructural development was also an essential element for creating conditions that would advise the integrating agenda and would need to be prioritised.

SADC comprises Angola, Botswana, the Democratic Republic of Congo, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, South Africa, Swaziland, Tanzania, Zambia and Zimbabwe.

In the economic front, the performance was satisfactory in 2007and prospects for 2008 are generally good.

Considerable progress has been made in attaining reasonable levels of economic growth in the region with economic growth remaining strong while inflation continued to go down.

According to the organ's Secretariat, most countries have recorded positive growth for five consecutive years, and substantial economic growth is registered in Angola with 19.8 percent, followed by Malawi, Mozambique and Tanzania.

However, the level attained in economic growth falls short of the regional target which was set at 7 percent for 2008.

Real GDP increased on average by 5.9 percent in 2007, the same growth rate achieved in 2006.

The majority of the SADC member states have witnessed improvements in fiscal performance with declining fiscal deficits, which are the results of pursuing prudent fiscal policies and the initiative of the Highly Indebted Poor Countries, which are benefiting the member states.

The region has also witnessed substantial improvement in debt position but the current accounts of the balance of payments got worse in 2007 amid rising imports despite reasonable boost in exports.

Elaborating on some of the issues to be on the agenda during the summit, Deputy Minister of Foreign Affairs Aziz Pahad said other issues to be discussed include electricity availability in the region as power deficits would persist between 2008 and 2012; social development especially relating to AIDS/HIV initiatives in the region and gender development.

He said the summit will also discuss the financing and construction of the new SADC headquarters.

The summit will also see President Thabo Mbeki taking over the Chairmanship of the regional organisation.

President Mbeki takes over from Zambian President Levy Mwanawasa for a year.

nairoberry

August 13th, 2008, 09:28 AM

Actually, when I think about it, I don't want them to discover oil in Somalia.

It'll just give them another BS excuse to continue fighting. :banana:

10rot u kill me dude. i like the way u keep it real with ur country(assuming ur from somalia) u love ur country beyond words but u are pretty good at critisizing it.

MBA-Congo

August 13th, 2008, 06:54 PM

Congo May Review Oil-Exploration, Production Deals, Mende Says

By Franz Wild

Aug. 13 (Bloomberg) -- The Democratic Republic of Congo may review oil-exploration and production agreements to force companies to develop infrastructure in the central African nation, Hydrocarbons Minister Lambert Mende said.

Oil companies will also have a greater responsibility to help communities in areas where they operate, Mende said in remarks broadcast on Radio Okapi, a Kinshasa-based broadcaster, today.

Congo will review its tax laws for oil companies who need ``to do a lot more'' than they are doing currently, Mende said.

Paris-based Perenco SA is Congo's only oil producer, pumping 25,000 barrels of crude oil a day. Tullow Oil Plc, Heritage Oil Ltd., Soco International Plc and Surestream Petroleum Ltd. are among companies that have oil-exploration agreements in the country.

To contact the reporter on this story: Franz Wild in Kinshasa via Johannesburg at pmrichardson@bloomberg.net.

MBA-Congo

August 14th, 2008, 02:37 AM

UPDATE: Eni, Sonangol Sign Indus Development MOU In Angola

August 13, 2008: 06:53 AM EST

(Adds details on Angola, updates share price.)

ROME -(Dow Jones)- Eni SpA (ENI.MI), Italy's biggest oil and natural gas company by volume, said Wednesday that it and Angola's Sonangol have signed a memorandum of understanding for industrial development in Angola.

In a statement, Eni said the MOU involves onshore oil activities, enhancement of Angola's energy facilities, biofuel production and research into opportunities in the hydrocarbon sector.

Eni shares were moved by the news.

At 1030 GMT, Eni shares were up 0.8% at EUR21.65, while the benchmark S&P/Mib index was down 0.8%.

In May, Eni made a significant offshore oil discovery, in Block 15/06, just north of Angola's capital Luanda. The Rome-based company is the operator of Block 15/06 with a 35% interest, while Angola's Sonangol is the licensee of the block and holds a 15% stake.

In a separate statement, Eni said the Saxi and Batuque fields - part of the ExxonMobil (XOM) operated Kizomba C development project in Block 15 offshore Angola - had started production.

Eni holds a 20% stake in Block 15. Saxi and Batuque follow on the heels of the Mondo field, which started producing in January this year.

Total combined output from the three Kizomba C fields is expected to reach 200,000 barrels a day later this year.

Kizomba C is estimated to produce a total of approximately 600 million barrels of oil over the life of the three producing fields.

Eni executives including Chief Executive Paolo Scaroni and exploration and production director Claudio Descalzi are currently visiting some African countries looking for business opportunities in oil and gas and also in electricity fueled by methane and biofuels generated by palm oil, Eni said.

The executives have visited Gabon and will next visit Angola and Congo during their one-week tour.

DanteXavier

August 14th, 2008, 08:50 AM

Botswana: Airport to get major upgrade

Parliament on Tuesday approved the loan P124 million entered into between the Botswana government and the OPEC Fund for International Development for the upgrading and expansion of Sir Seretse Khama International Airport.

Government intends to build a state-of-the-arts terminal building to the tune of P400 million that will accommodate approximately 450 people. The runway will also be extended from 3000m - 4000m to cater for large aircraft.

However, mystery still remains as to which section of the Finance and Audit Act empowers the finance minister to enter into such loan agreements with foreign financiers. Assistant Minister Guma Moyo acknowledged that there was need for clarity on the country's laws. He however maintained that it was the mandate of Parliament, as oversight institution, to debate matters pertaining to funding of government projects. During the debate, Member of Parliament (MP) for Lobatse Nehemiah Modubule challenged the minister to specify which section of the Finance and Audit Act was supposed to guide the MPs in their deliberations. He wanted the debate to be halted, arguing that it would be improper to continue when it was not clear which law was guiding them.

He was defeated and the debate continued with other MPs saying the upgrading would benefit the country. MP for Okavango Vista Moruti accused the government of developing only one side of the country while others are left behind. He said that the Shakawe airstrip should also be upgraded to make travelling in the tourist area easier.

MP for Letlhakeng East Gordon Mokgwathi attracted heavy criticism from other members in the House when he said that he saw nothing important about the upgrading of the airport "when children still walk 10km to school". He suggested that government should give priority to other areas such as schools and health facilities. Mokgwathi also criticised the manner in which government loans are acquired from foreign financiers, saying the process is not transparent.

Assistant Minister of Trade and Industry Duke Lefhoko reminded Mokgwathi that he should complain to the right minister of Local Government (Margaret Nasha), who is responsible for primary schools and health facilities in his area. He said that there was going to be a spillover during the 2010 World Cup finals in South Africa, hence Botswana should prepare to reap some of the benefits. He said that his ministry is working hard to lure investors to open direct flights from overseas destinations to Gaborone. Lefhoko also revealed that government is going to improve infrastructure to catch the attention of investors who might come to watch the World Cup games. Member of Parliament for Mogoditshane, Patrick Masimolole, and Kweneneg South East MP, Edward Raletobana, complained that there is plenty of underutilised land in Mogoditshane because it is under the flight path.

http://allafrica.com/stories/200808070895.html

Matthias Offodile

August 14th, 2008, 09:02 PM

UPDATE: Eni, Sonangol Sign Indus Development MOU In Angola

Angola and Nigeria have their own sub-forum now, they are no longer in here.

MBA-Congo

August 14th, 2008, 10:01 PM

Southern Africa: Implementation of SADC Trade Protocol on Track

Southern African News Features (Harare)

14 August 2008
Posted to the web 14 August 2008

The implementation of the SADC Trade Protocol has been a long and painstaking regional process that will continue beyond the formal launch of the Free Trade Area at the SADC Summit in mid-August.

Twelve SADC Member States have signed up to the protocol following a ratification process and are therefore part of the Free Trade Area (FTA), with the exception of Angola and the Democratic Republic of Congo who have asked for more time before joining the FTA.

The official launch of the FTA is expected during the 28th Southern African Development Community (SADC) Summit in South Africa on 16-17 August, signalling the creation of one of the largest free trade zones on the African continent with more than 250 million people.

This historic event that will usher in a new era of economic integration and rapid industrialisation of the sub-region through expanded trading opportunities.

Premised on the gradual removal of barriers to trade, the FTA is a culmination of the eight-year process that started with the signing of the SADC Trade Protocol in 1996, which came into force in 2000.

Thus the creation of an FTA this month signifies the achievement of a major milestone towards the quest for deeper economic integration in SADC.

The main instrument of trade liberalization as provided for in the protocol has been the elimination of customs tariffs and non-tariff barriers on the bulk of intra-SADC trade.

Once the Trade Protocol came into force in 2000, the first major step was for Member States to undertake negotiations for tariff phase-down which entails gradual removal of customs duties.

The negotiating process was conducted through the "request-offer approach" under the auspices of the Trade Negotiating Forum, which met regularly as provided for in the Trade Protocol.

Critical to the negotiating process was the principle of asymmetry, which was born out of the realization that, among other issues, SADC Member States were at varying levels of economic development. For purposes of implementation of the Trade Protocol, Member States were put into the following categories:

o Developed Countries (mainly South Africa but de facto, Southern African Customs Union - SACU);

o Developing Countries (Mauritius and Zimbabwe) and;

o Least Developed Countries -- LDCs (being the remainder i.e. Angola, DRC, Madagascar, Malawi, Mozambique, Tanzania and Zambia).

Based on these clusters, SADC pursued a tariff phase-down programme at variable scales of speed in which the developed countries cluster was expected to generally front-load their tariff reductions to achieve the "substantially all trade" threshold by about year-five of implementation, that is by 2005.

The developing countries cluster was expected to generally mid-load their tariff reductions to achieve the same threshold by about year seven or eight of implementation, that is by 2007-8 while the last category, the LDCs, was expected to back-load their tariff reductions to beyond the 8-year threshold but not to exceed 12 years.

However, for category A and B products (see box), tariffs were to reach the zero percent level by 2008 in line with the World Trade Organization requirement which stipulates that substantially all trade should be free in an FTA.

The "substantially all trade" threshold for SADC is made up of 85 percent of all products, constituting category A and B products but excluding category C products.

A Mid-Term Review commissioned by SADC in 2004 revealed that Member States were implementing the Trade Protocol but progress was generally slow. One of the key recommendations to ensure compliance was that Member States were to effect tariff phase-downs on the 1st of January every year.

An audit done by the Southern African Trade Hub for the SADC Secretariat indicated that as of February 2008, Mauritius, Mozambique, SACU countries, United Republic of Tanzania, Zambia and Zimbabwe had gazetted their tariff offers or issued notices effecting the 2008 tariff phase-down. Malawi was expected to do so before the launch in August 2008 while Madagascar only acceded to the Protocol in 2006 and is allowed more time to catch up.

In addition to removal of tariffs, Member States have also agreed to several other trade facilitation measures such as the elimination of non-tariff barriers to trade. Removal of non-tariff barriers involves harmonization of customs rules and procedures, the harmonization of sanitary and phyto-sanitary measures as well as adoption and implementation of common rules of origin.

Member States are currently developing a model Customs Act that will facilitate the harmonization of customs regulations and procedures. Work on the SADC Customs Bond Guarantee Scheme has been completed while a decision is expected soon on the Single Customs Document and the Regional Goods Transit System, both of which have already been piloted.

Given that not all products qualify for duty-free under an FTA, a considerable amount of time was spent on negotiating the rules of origin, which were eventually agreed as being product specific. A SADC Certificate of Origin, which authenticates goods that originate from the region, is already in use in Member States.

The rules of origin are to ensure that goods not originating from the region do not enjoy tariff preference. They are also to ensure that the region is not flooded with imports from third countries.

Relevant Links

Economy, Business and Finance
Capital Flows
Legal and Judicial Affairs
Sustainable Development
Trade

While considerable work has gone into negotiating and agreeing regional instruments of the FTA, the focus will now shift to the national level where compliance matters most.

You are to blame

August 15th, 2008, 03:51 AM

Rwanda: Economic Performance Exceeds Expectations, Set to Grow By 8.5 Percent

The New Times (Kigali)

12 August 2008
Posted to the web 13 August 2008

John Gahamanyi and Tony Barigye
Kigali

The good performance of the agricultural sector in the first half of 2008 is expected to drive real growth to 8.5% - up from 6% last year, the Minister of Finance and Economic Planning James Musoni said on Monday.

Rwanda's economy was expected to grow by 6.8% in real terms this year, however, Musoni said that based on the first half of 2008 where agriculture registered strong performance of over 16% and 19% in season A (November 2007-January 2008) and Season B (May-July2008) respectively, growth is projected to be 8.5%.

Musoni, who was making a presentation during the monetary policy and financial stability statement at the Kigali Serena Hotel, is optimistic about the economy partly because of a stable growth in the industrial sector, especially alcoholic and non-alcoholic beverages and construction which are growing by over 18% this year.

Overall, agricultural production increased by 19.2% in the first half of 2008 stimulated by roots and tubers which increased by 50%, cereals, particularly wheat, increased by 17.5% from 24,633tonnes in 2007 to 67,868 tonnes in the first half of 2008.

Maize increased by 62.9% from 102,447 tonnes in 2007 to 166,853 tonnes in the first half of this year.

The increase is attributed to the government strategy of making fertilizers affordable and accessible to farmers.

The minister added that tourism, transport and financial services had grown by 13%.

However, the economy which is heavily dependent on imports was noted to be troubled by imported inflation mainly caused by the global increase in oil and food prices.

A statement by François Kanimba, Governor of the National Bank of Rwanda quotes the overall price index (the average price of goods and services) as of the end of June 2008 to be 13.1%. This exceeds the 4.5% in the corresponding period of 2007.

"The change in the index of locally produced goods and services was 12.4%, while the increase for imported goods was 15.8%," the statement reads in part.

Limited supply of transport and education services due to low investments have led to monopolies thus a hike in fees contributing to the increasing inflation.

According to statistics presented by Kanimba, school fees rose by 13.9% and transport by 13.4%.

Inflation was also worsened by increasing domestic and sub-region aggregate demand and increasing housing rent due to the rise in prices of construction materials.

Monique Nsanzabaganwa, the Minister of Trade and Industry, said that despite the increase in agricultural produce, farmers had taken advantage of the global food crisis and exported to neighbouring countries like Congo due to high demand and subsequent higher prices.

She said that the terms of trade were improper with external buyers who were exposing the economy to more inflationary tendencies.

"Exporters of agricultural products should have a commercial presence in Rwanda with restriction of foreign importers entering the country and buying directly from farmers, as a measure to curb widespread inflation," she said.

As one of the measures to curb imported inflation, Nsanzabaganwa said that the competition policy which was already in draft form was yet to be implemented and would deal with "the market distortion causing inflation."

Musoni stated that despite unstable prices, there wouldn't be price fixing as was done in the previous years.

In reaction to the unstable commodity prices, Nsanzabaganwa said that a study to establish a price structure of sensitive products is to be carried out and will lead to price stability of some of the crucial household items.

It will also be a basis for monitoring the change in prices of other commodities. The investment strategy which is ongoing and is expected to increase productivity and break monopolies, thus decelerating the inflationary rate, was emphasised.
http://allafrica.com/stories/200808130119.html

Kenguy

August 15th, 2008, 03:20 PM

8.5, thats the highest growth rate Rwanda has ever achieved. Also the highest in the region (except for Ethiopia.)

Matthias Offodile

August 15th, 2008, 11:18 PM

Sounds good Eni comes back to Gabon in order to look for future oil exploration! Seems to have become lucrative for them again to explore oil in that corner

Gabon : La compagnie pétrolière Eni SPA prépare son retour

Le président directeur général de la compagnie pétrolière italienne Eni S.P.A, Paolo Scaroni, a été reçu par le président Bongo Ondimba le 12 août pour préparer le retour de la société sur les champs d’exploitation gabonais. Quatre ans après l’interruption des activités d’Eni S.P.A au Gabon en 2004, la société entend renouer avec le sous-sols gabonais, poussée par la conjoncture énergétique mondiale.

© D.R

L’augmentation des cours mondiaux du pétrole pourrait faire revenir la compagnie pétrolière Eni S.P.A sur les champs d’exploitation gabonais. Le chef de l’Etat a reçu en audience le 12 août dernier le président directeur général de la société italienne, Paolo Scaroni, pour préparer les modalités d’une reprise des activités de la compagnie au Gabon.

Accompagné par le ministre des Mines en charge du Pétrole, Casimir Oyé Mba, monsieur Scaroni a fait valoir la stabilité politique du pays et la conjoncture énergétique mondiale comme principale motivation d’une reprise des activités de sa société au Gabon.

Le PDG de Eni S.P.A a par ailleurs démenti les rumeurs sur une prétendue pénurie des réserves énergétiques dans le sous-sol gabonais. Il a déclaré à cet effet que le Gabon dispose bien d’un réel potentiel énergétique et dispose encore d’importantes réserves pétrolières.

«Nous avons parlé longuement de notre présence en Afrique et de ce que l’on peut faire pour revenir au Gabon puisque nous avons quitté le Gabon en 2004 et nous avons la volonté d’y revenir, évidemment dans le secteur pétrolier, mais aussi dans d’autres secteurs dont on a discuté avec le président de la République» a rapporté monsieur Scaroni.

«Nous sommes la première société pétrolière d’Afrique, et ne pas être au Gabon n’est plus acceptable. Nous pensons que le Gabon a encore des ressources pétrolières à découvrir et nous voulons prendre part à cet effort pour renouveler les réserves pétrolières du pays» a poursuivi le PDG d’Eni S.P.A.

Le groupe Eni S.P.A qui est né après la deuxième guerre mondiale, totalise aujourd’hui plus de 60 ans de présence en Afrique. Implantée au Nigéria, au Congo et en Angola, la compagnie y produit plus d’un milliard de barils par jour, ce qui représente plus de 60% de sa production.
Publié le 14-08-2008 Source : Gaboneco.com

MBA-Congo

August 17th, 2008, 06:49 PM

SADC 'a vehicle for stability'
16/08/2008 12:30 - (SA)

SADC unity important - SA

Johannesburg - The Southern African Development Community (SADC) is an organisation that is a critical principal vehicle for peace, stability and security, said President Thabo Mbeki at the SADC summit in Sandton, Johannesburg on Saturday.

He said that the SADC was an important catalyst for regional integration, for harmonisation of policies and as a central platform which should continue to give expression to an African renaissance as well as the implementation of an African agenda that will help Africans to realise the central objective of the regeneration of Africa.

He also said the launch of the SADC free trade area, which came into force in January this year, should be celebrated.

"An appropriate way to celebrate this achievement is to commit ourselves to ensuring its success so that citizens of this region would move further towards a life free of anger, free of unemployment, free of disease and free of under-development.

"Accordingly, as the leadership and people of Southern Africa, it is important at all times to be conscious of the fact that whatever we do or do not do will either swim or sink us together," he said.

Mbeki said this 26th SADC summit would, as in the past, concentrate on the primary task; which was to confront poverty and under-development and to deepen democracy and to strengthen stability.

DanteXavier

August 18th, 2008, 06:28 AM

Botswana beef gets preferential access to EU

Gaborone. — The Botswana government has negotiated with the European Union for the country’s beef to have preferential access to the European market, Vice President Mompati Merafhe, has said.

"This access is now quota and tariff free, and the prices have improved quite significantly. The Botswana Meat Commission (BMC) has also improved its incentives, including increasing prices offered to farmers to encourage them to improve their stock and to sell more to the abattoir," he said at an agricultural show last week.

Merafhe said the BMC had introduced a premium price scheme which offered producers an additional P2 (two pula) per kilogramme for all cattle eligible for export to the European Union market.

"I therefore encourage farmers to take advantage of this scheme by getting their cattle into good condition before selling to the BMC in order to obtain maximum benefit," he said.

He also said his government would continue to negotiate with chain supermarkets in the country that purchased poultry products to relax restrictions on halal.

Halal is something that is approved as religiously proper way of slaughtering animals by Muslims.

Merafhe said government had been concerned that in spite of efforts made to support the poultry sector, it has experienced a decline and therefore undermined national efforts to achieve self-sufficiency in poultry products.

"Part of the problem was that the small poultry producers could not successfully penetrate the local market due to some restrictions such as halal requirements. I am happy to inform you that the government continues to negotiate with the chain supermarkets that purchase poultry products to relax these restrictions. And I am glad that the Choppies Group which has over 40 supermarkets countrywide has responded positively. I would like to urge others to follow the example set by the Choppies Group," said Merafhe.

He said the vegetable producers would also be glad to know that government was planning to establish horticultural market places as a way of encouraging the growth of this sector.

Merafhe said agriculture remained the mainstay of the country’s economy as it was a source of employment and income for most rural households.

"Government recognises the vitality of agriculture to the livelihood of Batswana and the prosperity of our economy. The escalating food prices worldwide which have also affected Botswana require us to scale up agricultural productivity in our country," he said.

He said the government was doing all it could to provide the necessary support for farmers to produce more food in order to reduce the amount imported from other countries.

http://www.southerntimesafrica.com/inside.aspx?sectid=557&cat=8

DanteXavier

August 18th, 2008, 06:34 AM

Vodafone seals Ghana deal

VODAFONE has completed the purchase of a 70 per cent stake of former state-owned company Ghana Telecommunications for $900 million (£483m) as part of its drive into fast-growing and emerging regions.

Ghana Telecom is the No3 mobile operator in the African country, and the leading fixed line and broadband operator.

At the end of March it had 1.4 million mobile phone customers, equivalent to a mobile market share of approximately 17 per cent.

http://business.scotsman.com/energyutilities/Vodafone-seals--Ghana-deal.4399314.jp

popa1980

August 18th, 2008, 01:02 PM

They shoudlnt have sold of 70%. It should have been 51%. Again an African governemnt acting for short-term gain. No doubt some of the money will go into college fees for the spoit brats of the MPs in the USA.

Matthias Offodile

August 19th, 2008, 12:05 AM

Serena Hotels invests US $15 million in Rwanda.

Written By:Press Release , Posted: Wed, Aug 13, 2008

Rwanda's economy is set for a further boost after a leading hotel chain announced plans to increase their investment in the East African country.

Serena Hotels will refurbish and extend the Kigali Serena Hotel in Rwanda at a total cost of US $15 million.

Speaking at the construction contract signing ceremony held at the hotel with the main contactor Roko Construction, the Managing Director of Serena Hotels Mr. Mahmud Jan Mohamed said the refurbishments are geared towards availing superior services to the customer and at the same time play a pivotal role in the growth of Rwanda's economy.

The project managers, Symbion International were represented by the senior partner, John Cavanagh.

"The continued investment of Serena Hotels mirrors the success story of Rwanda- a story of development and opportunity in Africa. We aim to be one of the catalysts to Rwanda's tourism industry in line with the government's vision," said Mr. Jan Mohamed.

The 12 month renovation project which has been precipitated by the growing demand for Serena Hotel's services is set to commence on 1st September 2008.

It is expected to increase the hotel's guest capacity and offer a wider variety of health, wellness and beauty services to local and international guests.

Among the key additions will be an ultra modern new wing comprising a total of 44 guest rooms- 28 standard and 16 executive rooms- and a two storey state of the art Maisha Spa facility complete with a contemporary swimming pool.

"Whether out for pure luxury or a swift revitalization, the Maisha Spa facility will offer soothing respite and inner serenity to guests with services ranging from signature massages, to facials and hydrotherapy body care said Mr. Jan Mohamed.

The hotel will remain open during the renovation period and measures will be put in place to ensure minimal interruptions to guests.

"Today's discerning traveler is looking for an all inclusive experience, whether he or she needs an executive conference, off-site meeting, or luxury accommodation, we want to make them feel at home", the MD noted.

Known for its excellent services, spectacular views, localized architecture and lifetime experiences, Serena Hotels took over the Kigali Serena hotel in February 2007 and has boosted employment and skill transfer opportunities.

Since then, the five star hotel has not only become the venue of choice for Presidents, diplomats and other guests but attracts tourists and investors from all over the world.

Currently it has 104 air conditioned rooms that range from luxury suites to deluxe rooms and the number is set to increase to 148 after the refurbishment is complete.

Serena Hotels have additionally purchased 27.6 hectares of land in the KINIGI area, and their Architects are currently finalizing designs for a luxury boutique lodge. Construction of the facility will commence early year 2009.

You are to blame

August 19th, 2008, 05:09 AM

West Africa: Consumer Broadband Prices Continue to Tumble As OTI Telecom Lowers Its Retail Offer

Balancing Act (London)

ANALYSIS
18 August 2008
Posted to the web 18 August 2008

Isabelle Gross
London

West African consumer broadband prices continue to tumble as operators try to find the price point that will attract a wider public beyond the relatively small numbers of corporate customers. The most recent company to slash its broadband prices to create a retail offer is Benin's ISP OTI Telecom. It is the latest francophone country to introduce this kind of offer but undoubtedly others will follow. However, the challenge remains the high cost of international bandwidth on SAT3 for most countries on the cable. Isabelle Gross looks at what's happening to broadband prices in the sub-region.

Benin's leading ISP OTI Telecom surprised the market last week by lowering its broadband prices for retail customers to FCFA 25,000 (US$57.95) a month without tax. Equivalent prices for 512 Kbps are FCFA80,000 (US$185.43) and for 1,024 Kbps FCFA200,000 (US$463.58).

But according to Blaise Adetonah-Donhouede, the DG of OTI Telecom, the price that would really crack open the retail market would be more like somewhere between FCFA9,000-12,000 (US$20.86-27.81). At this level, for example parents who are paying for their children to do research in a cyber-café on a per hour basis will begin to see the financial advantage.

The fall in retail prices has been matched by new offers for professional and corporate users: a 512 Kbps connection without tax for FCFA100,000 (US$231.79) and a 1,024 Kbps connection without tax for FCFA220,000 (US$509.93). Cyber-cafes also benefit but with a slightly higher price on the lower capacity connection: 512 Kbps for FCFA130,000 (US$301.25) and 1,024 Kbps for FCFA220,000 (US$509.93). However, the cyber-cafes get a free ADSL modem-router, a maintenance pack, a guaranteed maximum 12-hour call-out, personalised technical support and two IP addresses with 512 Kbps connection and four with the 1,024 Kbps connection.

By comparison with DSL broadband offers in South Africa, what you see is what you get in Benin. An equivalent residential 512 Kbps connection from Telkom South Africa costs US$129.51 a month which at first sight seems cheaper than OTI Telecom's price. But OTI Telecom imposes no restrictions on download amounts. But in South African there are potentially three additional amounts that will be added to the bill at the end of the month. Firstly, the access charges paid for a 512 Kbps connection add a further US$43.17. Secondly, the connection is "shaped" which means that it's impossible to use VoIP so you can pay an additional US$22.33 for an unshaped connection. Thirdly, in order to have unlimited downloads you pay an extra US$64.01. All of which gives a whole new meaning to "slice-and-dice" pricing.

But Adetonah-Donhouede of OTI Telecom says that such a pricing structure just wouldn't work in Benin because his customers would spend a great deal of time contesting their the detail of their bills if they had multiple payment options. It's already reached the situation where customers ask for money off if the connection is down for more than 24 hours!

A comparison with prices in the West African sub-region put OTI Telecom and Benin in a good position. In Senegal for example Orange offers a 512 Kbps ADSL connection for FCFA19,900 (US$46.12) without tax a month. In Côte d'Ivoire Aviso offers the same connection on a similar basis FCFA40,000 (US$92.71). In price terms, these are both at the low end of the range for Burkina Faso's Onatel offers a 512 Kbps residential connection for FCFA40,000 (US$138.84).

In Togo and Ghana, residential connections are still limited to 256 Kbps. Togo Telecom's "Helim" residential connection for this capacity costs FCFA70,000 (US$162.25) and Ghana Telecom's "Broadband4U" connection costs US$92.30)

The impetus for lower broadband prices is driven by two key factors: the level of competition in the market and the price of international connectivity. The exception to the first driver has been Orange in Senegal which has been the continent's only de-facto monopoly that acts in a price-progressive way. However, it will face competition this autumn from Sudatel-owned Expresso.

OTI Telecom has 15 POPs and a very high level of access to Benin Telecom's network which has enabled it to secure 60% of the 2,000 DSL subscribers in the country. But it secured this position when Benin Telecom was cash-strapped and in chaos at the end of the last Government. Its D-G can easily see that Benin Telecom will re-exert control over its delivery of DSL and OTI Telecom will become a "virtual operator". If a single entity controls the supply chain for DSL broadband and there is no wireless alternative at a low price, then the fall in prices is unlikely to continue.

The second pressure preventing lower broadband prices in West Africa is the continuing high cost of wholesale SAT3 connectivity. This varies between US1,300-15,000 per mbps per month depending on the country involved. The lower the prices, the higher the volumes sold and the greater the pressure on the existing SAT3 cable. And Nigeria, which should be the sub-regions largest market is to some large extent still "choked off" by the continuing chaos (both financial and maintenance) at Nitel.

By Q2, 2009, Seacom and TEAMS will be offering wholesale connectivity on the east coast between US$500-1,000. The Glo One cable may start operating Q3, 2009 and will undoubtedly offer cheaper prices to a number of countries and two other pipeline projects are in the wings. Once they are in place, there can few further excuses for not offering significantly cheaper consumer broadband price at or below the price point Adetonah-Donhouede of OTI Telecom suggests.

allafrica.com

MBA-Congo

August 20th, 2008, 12:02 AM

Zambia's president dies in France

Levy Mwanawasa's time as Zambian leader
Zambian leader Levy Mwanawasa has died in a Paris hospital after suffering a stroke in June. He was 59.

Vice-President Rupiah Banda, who is expected to take over as acting leader, made the announcement on state TV.

President Mwanawasa suffered the stroke at an African Union summit in Egypt and was then flown to France, where he had remained in hospital.

He came to prominence recently for being one of the African leaders most critical of the violence in Zimbabwe.

US President George W Bush expressed his condolences to Mr Mwanawasa's family, describing him as "a champion of democracy in his own country and throughout Africa".

French President Nicolas Sarkozy said Mr Mwanawasa's death was "a great loss for the African continent".

Former Zambian President Kenneth Kaunda said he had lost a "personal friend".

"He was a great leader. People loved him. We all loved him. He did great things," Mr Kaunda told the BBC.

Mr Mwanawasa's health was an issue during his presidency in 2002-2008.

In April 2006, he suffered a minor stroke four months before general elections.

Donor praise

"Fellow countrymen, with deep sorrow and grief, I would like to inform the people of Zambia that our President Dr Levy Patrick Mwanawasa died this morning at 1030 hours [0830 GMT]," Reuters news agency quotes Mr Banda as saying.

I also wish to inform the nation that national mourning starts today

Vice-President Rupiah Banda

Obituary: Levy Mwanawasa
Have Your Say

"I also wish to inform the nation that national mourning starts today and will be for seven days."

On Monday, Mr Banda said that the president's health had suddenly deteriorated and he had undergone emergency surgery.

Mr Mwanawasa was chairman of the South African Development Community (Sadc) when he was taken ill in June.

In that role he had been critical of the controversial election in Zimbabwe and had said he sympathised with Zimbabwean opposition leader Morgan Tsvangirai when he withdrew from the run-off because of attacks on his supporters.

Mr Mwanawasa won a second term in 2006, having campaigned on his economic record which won him acclaim from Western donors.

When he was vice-president in the 1990s he was involved in a near-fatal road accident which left him with slurred speech.

Mr Mwanawasa famously fell out with his predecessor, Frederick Chiluba, who had handpicked him to lead the ruling Movement for Multiparty Democracy.

He pressed for Mr Chiluba's immunity from prosecution to be lifted and the former president was charged with stealing money during his time in office.

His critics accused Mr Mwanawasa of persecuting his political rivals under the guise of fighting corruption.

He was married and had six children. He had been a practising lawyer since 1973.

In his most famous case, he defended former Vice-President Lt-Gen Christon Tembo and others who were charged in 1989 with plotting to overthrow Kenneth Kaunda.

Zambia's former President Frederick Chiluba has expressed shock after officially receiving information of the death of President Patrick Levy Mwanawasa at a hospital in the French capital, Paris. Mwanawasa died Tuesday nearly two months after he suffered stroke at a recent African Union summit in Cairo, Egypt. Chiluba called to express his condolences to the first family and the ruling Movement for Multiparty Democracy (MMD). He also called on Zambians to remain calm and support Vice President Rupiah Banda totally in what he described as challenging times.

Vice President Banda is expected to take over as acting president under Zambia's constitution before early elections are held. Some political analysts say Mwanawasa's demise will create political uncertainty after he narrowly defeated main opposition leader Michael Sata in the 2006 presidential election. Sata reportedly accused Mwanawasa of selling out Zambia to Chinese and Indian companies.

Former President Chiluba's spokesman Emmanuel Mwamba tells reporter Peter Clottey from the capital, Lusaka, that Mwanawasa was a champion of democracy.

"He (former President Chiluba) was very saddened by the news that the country had lost President Mwanawasa to the stroke although President Mwanawasa has been unwell since June 29. We were hopeful and prayerful that he will fight the effects of this stroke and pull through. So, he was very saddened that President Mwanawasa died, and he has expressed his condolences to the acting President, His Excellency Mr. Rupiah Banda. And he has wished his deepest sympathy to the first family to the government to the MMD and to the country at large," Mwamba noted.

He said the former president and Mwanawasa have always been great friends.

"They had a very longstanding relationship that dates back to their days in Ndola, a town on the copper belt. They worked together. He (Chiluba) was in the trade union and President Mwanawasa was a lawyer, and he was consulted several times in those early days. At the dawn of democracy in 1990, they forged a friendship for the service of this country. President Chiluba was president, and Mr. Mwanawasa was his vice in the party. And when President Chiluba won elections in 1991, he invited Mwanawasa to be his vice, and Mr. Mwanawasa was the vice president of the republic. So they have a very strong longstanding relationship," he said.

Mwamba said the relationship between the former president and Mwanawasa stood the test of time.

"Even when President Mwanawasa resigned as vice president and after so many years, and even when President Chiluba's terms came to an end, he still went to President Mwanawasa and called upon him to be his successor. He (Chiluba) campaigned for him and President Mwanawasa assumed office in 2002," Mwamba noted.

He said the former president is urging all Zambians to remain calm and fully support the government.

"At this critical time he has urged Zambians to be calm, to remain peaceful, as they are known to allow the transition to pass with peace. And we are blessed as a country that we are a constitutional government and our constitution is supreme and our constitution outlines what happens in the circumstances where there is vacancy in the presidency. And in this case, we have a vacancy caused by death. So we are a constitutional democracy. He has urged the country to remain peaceful, legal, and ensure that we help the current vice president who is now acting president to take us through this very difficult period," he said.

Matthias Offodile

August 20th, 2008, 12:21 AM

Ethiopia, Yemeni agreed on oil and gas exploration:cheers:

afrol News, 19 August - The governments of Yemen and Ethiopia yesterday agreed to jointly work for the exploration of oil and gas, Ethiopian Minister for Mines and Energy Sinknesh Ejigu said.

The two countries will on Tuesday sign a memorandum of understanding for the implementation of their agreement on gas and oil exploration in Ethiopia.

Ethiopian and Yemeni energy and mineral officials are taking part in the third Ethio-Yemen Joint Technical Committee Meeting on Oil, Gas, Minerals and Energy in the Ethiopian capital Addis Ababa.

The second such meeting was held in the Yemeni capital Sana'a four years back.

Sinknesh Ejigu informed the Addis Ababa meeting that the two countries had agreed to strengthen cooperation in various fields, particularly exploration and exploitation of oil, gas and minerals

"This meeting is expected to create ample opportunities to review the implementation of the area of cooperation stipulated in the executive program previously signed between Ethiopia and Yemen," Ejigu said.

"It would also assess additional avenue of cooperation for the benefit of the two sisterly countries."

Yemen's deputy Oil and Minerals Minister Abdulmalik Alama believed the joint technical meeting would boost cooperation between the two countries as well as enable Yemen to receive electgricity supplies from Ethiopia.

By staff writer

© afrol News

BUTEMBO21

August 20th, 2008, 10:18 AM

TO tell the truth i never like MWANAWASA a total WESTERN PUPPET . i'm sorry for his family , but happy that PUPPET is gone . someone who insulted the entire region of SADC . thank God for the break.

MBA-Congo

August 20th, 2008, 01:55 PM

Ras al-Khaimah Seeks Further Investment Opportunities in Congo

By Franz Wild

Aug. 20 (Bloomberg) -- Ras al-Khaimah, the most northerly of seven sheikhdoms in the United Arab Emirates, plans to add to its $910 million of investments in the Democratic Republic of Congo, said deputy ruler Sheikh Saud bin Saqar al-Qassimi.

``What we are looking for is a strong partnership that would enable RAK-based entities to use their expertise and investments in forging mutually beneficial ties,'' Sheikh Saud said today in an e-mailed statement in Kinshasa.

Ras al-Khaimah is building a five-star hotel with 372 rooms, a convention center and an office and residential tower - - collectively worth $500 million -- in the Congolese capital.

In March, the emirate earmarked $250 million to develop copper and cobalt mines and smelters in the Congo's southern Katanga province. The region contains a third of the world's reserves of cobalt, a metal used in rechargeable batteries.

Ras al-Khaimah will also contribute $160 million toward starting a new airline in partnership with Congo's government.

Congo's economy is recovering from four decades of misrule under former dictator Mobutu Sese Seko and two civil wars between 1996 and 2003 that slashed output. The central African nation welcomes Ras al-Khaimah's interest, said Industry Minister Simon Mboso.

``We look forward to the sharing of technical expertise and more investments from RAK, especially in the industrial sector and for development of cement plants and boosting agro industry,'' Mboso said in the statement.

MBA-Congo

August 20th, 2008, 02:53 PM

TO tell the truth i never like MWANAWASA a total WESTERN PUPPET . i'm sorry for his family , but happy that PUPPET is gone . someone who insulted the entire region of SADC . thank God for the break.

No he was a good guy, meet him in Ndola back in 99'. Zambia has gone through rapid tranformation, only thing affecting it is the fact it remains landlocked, now with Angola, Mozambique, and Congo stable this country will be a trading center in the region.

Lydon

August 20th, 2008, 06:09 PM

TO tell the truth i never like MWANAWASA a total WESTERN PUPPET . i'm sorry for his family , but happy that PUPPET is gone . someone who insulted the entire region of SADC . thank God for the break.

Oh piss off already. The nonsense you and some people are going about spewing is getting annoying. Anyone who can think logically is automatically deemed a "Western Puppet." Come up with something original for once.

Matthias Offodile

August 20th, 2008, 08:14 PM

TO tell the truth i never like MWANAWASA a total WESTERN PUPPET . i'm sorry for his family , but happy that PUPPET is gone . someone who insulted the entire region of SADC . thank God for the break.

and even if he were a "Western puppet" (something what was not the case), he was a good and honest man! just look at how Zambia developed under his rule. You can easily find info on google...and in compariosn to Chiluba he didn´t bankrupt the country.

Matthias Offodile

August 20th, 2008, 08:55 PM

Gabon - China - France Project

Gabon : Bongo Ondimba lance les travaux de «Gabon Mining Logistics»:cheers:
Personnalités politiques et partenaires économiques étaient réunis le 13 août dernier à Libreville pour l’inauguration du chantier de l’immeuble de «Gabon Mining Logistics» par le chef de l’Etat. Cette nouvelle structure du groupe Bolloré œuvrera dans le service et le soutien aux entreprises du secteur minier, dans le cadre de la politique de diversification de l’économie,

© D.R

Les perspectives de développement du secteur minier au Gabon ont amené les partenaires économiques à mettre en place une société de service et de soutien logistique aux entreprises de ce secteur au Gabon.

Les travaux de construction de l'immeuble de la société "Gabon Mining Logistics" du groupe Bolloré ont été lancés le 13 août à Libreville par le président Bongo Ondimba en présence des partenaires économiques du secteur, des principales personnalités politiques du pays, des dirigeants du groupe français et de la représentation diplomatique chinoise.

La maquette de ce prestigieux édifice a été dévoilée au public. L'immeuble comprendra 12 étages qui s'érigeront à côté de l'ambassade des Etats-Unis, au bord de mer dans le centre ville.

Dans le cadre de la politique de diversification de l'économie nationale, le groupe Bolloré entend soutenir les activités liées à l'exploitation du minerai dans les sous sols du pays en proposant un soutien logistique aux entreprises adjudicataires de ces marché, notamment le projet Belinga qui est au centre des perspectives du secteur.

"Il n'y a pas de développement économique sans la pratique et la maîtrise des métiers et des techniques de la logistique. Transports maritimes, fluviaux, ferroviaires et aériens sont des maillons incontournables et indissociables du transport intégré de bout en bout. Nous connaissons votre engagement personnel, monsieur le président, dans la réalisation des projets de Belinga et Poubara, et tout naturellement, nos équipes logistiques rêvent d'y participer. Nos Notre approche tournée vers l'opérationnel et la satisfaction du client devrait nous l'espérons, nous placer comme une structure de référence dans ce que nous pourrions considérer comme étant le premier partenariat Gabon – Chine – France" a déclaré Antoine Orvat du groupe Bolloré.

La présidente du Conseil d'administration (PCA) de la société, Pascaline Mferri Bongo Ondimba, a expliqué que "cette structure représente un nouvel investissement dans le service aux entreprises qui vont travailler dans le développement du secteur minier au Gabon".

Le chef de l'Etat a ensuite procéder à la pose symbolique de la première pierre de l'édifice, dont la livraison sevrait se faire autour du mois de juin 2009.

"Dans 10 mois s'élèvera ici un immeuble de 8000 m² sur 12 niveaux. Cette réalisation participe de la mise en œuvre de la politique de diversification de l'économie et arrive à un moment où le secteur minier gabonais est appelé à connaître un nouvel essor. Cet essor se déclinera bientôt en termes de nouveaux métiers, de nouveaux savoirs et de nouveaux partenariats tous générateurs de nouveaux emplois" a assuré la PCA de la société.

Publié le 19-08-2008

Matthias Offodile

August 20th, 2008, 09:01 PM

Zambian president who fought corruption dies at 59

By LEWIS MWANANGOMBE Associated Press
Aug. 19, 2008, 10:05AM

LUSAKA, Zambia — Zambian President Levy Mwanawasa, whose criticism of the political and economic "catastrophe" of neighboring Zimbabwe helped break the traditional silence of African leaders toward one of their own, died today in France. He was 59.

Mwanawasa, who was hospitalized in Paris after suffering a stroke six weeks ago, had a reputation for integrity and fought corruption in his country, but never managed to lift the Zambian people out of crushing poverty.

Zambia's third president since independence from Britain, Mwanawasa was not bound by the liberation movement ties of older African leaders and was the first among them to criticize Zimbabwe's autocratic President Robert Mugabe, who had long been revered as an African independence hero.

Referring to the millions of Zimbabweans who have fled the ruin of their country, he said earlier this year that Zimbabwe "has sunk into such economic difficulties that it may be likened to a sinking Titanic whose passengers are jumping out in a bid to save their lives."

Zambia's vice president announced a week of national mourning.

"It is with deep sorrow that I have to tell the people of Zambia that our president ... has passed away this morning," Vice President Rupiah Banda said on radio and television.

French President Nicolas Sarkozy called Mwanawasa's death "a great loss for the African continent" and for democracy.

Banda did not give the cause of death; he said Mwanawasa had taken a turn for the worse on Monday.

The president was taken to Percy Military Hospital in Paris after he collapsed June 30 on the eve of an African Union summit in Egypt.

Mwanawasa described neighboring Zimbabwe as a "catastrophe," and criticized the trampling of democracy in the 2008 presidential elections.

His death leaves a power vacuum in Zambia, one of the world's biggest copper producers. Under the country's constitution, elections are meant to be held within 90 days.

Born on Sept. 3, 1948 in the town of Mufulira in northern Zambia, Mwanawasa served as solicitor general in 1986, under Zambia's first president, Kenneth Kaunda, and soon became a key figure in the push for multiparty democracy.

When Frederick Chiluba defeated Kaunda in Zambia's first multiparty elections in 1991, Mwanawasa was appointed vice president, but then quit the post, complaining of corruption.

Even so, Chiluba later tapped Mwanawasa to be his successor. Mwanawasa won the presidency in 2001 in an election marred by allegations of fraud, and was re-elected with 43 percent of votes in a 2006 poll generally regarded as transparent and fair.

As he sought to establish his legitimacy in his first term of office, Mwanawasa seized on anti-corruption and economic reforms and targeted Chiluba, who was found guilty in a London court of stealing $46 million from state coffers during his 10-year rule.

Mwanawasa won praise from the business community and middle-class Zambians as well as many Western donors and investors for his free market policies.

But critics accused him of turning a blind eye to the plight of the poor in a country where less than 20 percent of the population has formal employment and the majority lives below the poverty line. Zambia's sprawling townships, homes of the urban poor, became the power base of his populist rival Michael Sata.

Riots broke out briefly after 2006 elections when Sata supporters accused the electoral commission of manipulating the results. Mwanawasa successfully appealed for calm.

"The peace we currently enjoy should not be taken for granted," he said. "Some political parties are disrupting this peace. All peace-loving Zambians must rise and say 'No' to all those preaching violence and chaos in this country."

Opponents said Mwanawasa pandered to the whims of Western donors; Mwanawasa countered that it was thanks to the forgiveness of foreign debt that he was able to increase spending on education and health.

Sata and other critics also said he was too subservient to China, which poured hundreds of millions of dollars into Zambia's copper sector.

Mwanawasa criticized the West for failing to follow through on promises of increased aid and trade.

Africa "is in the hands of Europe" but needs China's economic aid, Mwanawasa told an audience of American students in 2007.

"You people in the West redeem yourself before you begin attacking China," Mwanawasa said.

He is survived by his wife and six children. Funeral plans were not immediately announced.

Matthias Offodile

August 20th, 2008, 09:03 PM

Egypt starts drive to remove antiquated taxis from its roads

August 20, 2008

By Will Rasmussen

The Egyptian government wants Fawzi Zawar, 49, to give up his taxi. But Zawar is not about to let go of his 27-year-old South Korean Hyundai Pony.

Zawar earns 600 Egyptian pounds (R887) a month rattling through Cairo's streets in his Pony - more than he makes in his civil service day job.

Hyundai stopped producing the Pony about 20 years ago but Zawar's car is still running strong.

"It only breaks down twice a week," Zawar says proudly. "I won't change it unless they force me."

Under a law passed this year, the authorities will not renew the licences of taxis older than 20 years.

"Taxis have been operating 24 hours a day for 23 years, with two or three drivers each," said deputy interior minister major general Sherif Gomaa. "Their suspension systems are destroyed … and accidents happen."

The drive to get rid of old taxis reflects a broader trend towards modernising consumer products in the country. With economic growth at 7 percent a year, retailers, property developers, car makers and banks are posting record profits as Egyptians spend more.

The government, which has overhauled its economy along free market principles since 2004, says the taxis, besides causing crashes, break down and clog up roads, which is bad for business.
Click here!

"The traffic law has been overdue for a long time," said Simon Kitchen, an economist at Egyptian investment bank EFG-Hermes.

But persuading the owners of Cairo's antiquities on wheels to turn in the keys may be a tricky matter in Egypt, where discontent is rising due to soaring food costs.

Thousands of state workers supplement their meagre salaries by driving a cab in a country where about a fifth of the population lives on less than $1 (R7.80) a day.

The number of taxi drivers ballooned in the 1990s, when government decrees allowed any car to be converted into a taxi and permitted banks to give car loans, according to Khaled el-Khamissi, author of Taxi, a book about Cairo cabbies.

Increasing fines:cheers:

The new traffic law includes other measures, such as increasing fines for violating traffic rules and allowing the licensing of three-wheeled rickshaw taxis.

The penalties range up to 500 Egyptian pound fines and jail for offences such as speeding, eating and drinking while driving, or having a baby in the front seat.

"It won't work for sure," said Adil Abdel Rahman, 48, driver of a Soviet-era Lada. "Everyone plays with the law here.

You are to blame

August 21st, 2008, 08:42 AM

TO tell the truth i never like MWANAWASA a total WESTERN PUPPET . i'm sorry for his family , but happy that PUPPET is gone . someone who insulted the entire region of SADC . thank God for the break.

I and I am sure many others are getting tired of your anti-western paranoia.
Mwanawasa was the best leader Zambia has had and it is evident in it's ongoing transformation.

BUTEMBO21

August 21st, 2008, 09:40 AM

IN POLITICS . PEOPLE HAVE DIFFERENT VIEWS ABOUT LEADERS and the way you want certain leaders and don't like some others .

PLEASE DON'T BE INSULTED BUY MY COMMENTS , DIDN'T COME HERE TO INSULT ANYONE, BUT TO EXPRESS MY MIND. I DON'T WHAT TO OFFEND ANYONE PERSONLY.

Lydon

August 21st, 2008, 11:00 AM

BUTEMBO21

August 21st, 2008, 01:25 PM

My bad . i didn't know that typing in capital letters is rude . i do it because tha't how i like it.

Matthias Offodile

August 21st, 2008, 07:52 PM

Ghana: Economy to Create 4,900 Jobs

Ghanaian Chronicle (Accra)

20 August 2008
Posted to the web 20 August 2008

Stephen Odoi Larbi

The job market of the Ghanaian economy would start witnessing 4,900 new vacancies as Foreign Direct Investments continue to announce their presence in the country.

With the economy's improved performance on the global market, Ghana has become a safe haven for investors who have over the last six months been battling to register their businesses with the Ghana Investment Promotion Centre (GIPC), to start operations in the country.

Out of the 53 new investment concerns registered during the second quarter of the GIPC under review, it is expected that 4,900 new jobs would be created, with majority of these (4,670 representing 95.3%) going in favour of Ghanaians and the remaining 230 (4.7%) to expatriates. The total estimated value of these 53 new investments is GH¢57.03 million, a decrease from GH¢77.37 million, recorded for the same period in 2007.

Of the 53 new investments registered during the quarter, 38 representing 71.70% were wholly owned foreign enterprises, with the remaining 15 projects (28.30%) being joint venture projects between Ghanaians and their foreign partners.

The joint venture projects were valued at GH¢13.5 million whilst the 100% foreign owned enterprises were valued at GH¢42.17 million.

This feat, according to the Chief Executive Officer of GIPC, Robert Ahomka-Lindsey in a media interaction in Accra, brings the total number of jobs created in the first half year of 2008 to 14,607.

With the registration of these 53 new investments, the Centre thus recorded a total cash investment of GH¢923.79 million (US$942.6million), being the total new cash investment for the second quarter of 2008.

This figure, according to the CEO, comprises GH¢916.06 million worth of investments (capital goods imported) and GH¢7.73 million equity transfers for the projects registered during the quarter as compared to GH¢351.54 million recorded in the same period in 2007, of which GH¢11.89 million constituted equity transfers and GH¢339.4 million worth of reinvestments (capital goods imported) with 95 projects registered.

Among the 53 new investments, China and India continue to top the list of countries who registered their businesses in the country. According to Mr. Ahomka-Lindsey, the United Kingdom registered the least projects but was of the highest value with GH¢33.45 million during the period under review.

Out of the new projects recorded, Manufacturing, Services and general trading continue to be the highest in terms of sectoral composition.

Agriculture recorded a slight improvement over the previous quarter with 9 projects being registered at an estimated value of GH¢9.88 million. Liaison Offices recorded the least projects, registering 3 projects out of the 53 with an estimated value of GH¢0.07 million.

Major projects attracted during the second quarter include DOS Oil Production- Ghana Limited, a processing factory in the field of palm fruits and palm kernel, with an estimated project value of GH¢27.44 million. Colwick Ghana Limited, a real estate development and Prairie Volta West Africa Fish Limited, notably known in fish farming and processing, announced their presence in the country with an estimated project value of GH¢2.69 million and GH¢2.04 million respectively.

According to MR. Ahomka-Lindsey, his outfit is expecting more activities in the telecom industry with the presence of Zain and Vodafone in the country. He said his outfit has outlined a 3 year building institutional capacity and would pursue it vigorously towards achieving a better investment economy for the country.

Matthias Offodile

August 22nd, 2008, 12:21 AM

Jean-Jacques Goldman - Là-bas

2k7TGwNt1WI

J´adore cette chanson là!

Matthias Offodile

August 23rd, 2008, 08:54 PM

First ever international conference on health and environment on African soil will be held in Libreville. (28/29 of August). 65 health ministers from around the world will attend . The conference will organized in cooperation with World Health Organisation an UN

Gabon : Libreville accueille la première Conférence internationale sur la santé et l’environnement en Afrique"

Le Gabon va abriter dès le mardi 26 août prochain, la toute première "Conférence interministérielle sur la santé et l’environnement en Afrique". Organisée en partenariat avec l’OMS et le PNUE, ces assises vont permettre la mise à l’étude de l’interactivité entre les problèmes d’environnement et ceux de la santé. 65 ministres de différents pays y sont attendus.

© D.R

L’Organisation mondiale de la Santé (OMS) et le Programme des Nations Unies pour l’environnement (PNUE) organisent, en partenariat avec le Gouvernement gabonais la toute première "Conférence interministérielle sur la santé et l’environnement en Afrique" à Libreville, du 26 au 29 août 2008.

Cette conférence va permettre d’examiner les problèmes sanitaires et environnementaux sous l’angle de leur impact concret sur la réalisation des objectifs nationaux de développement tels que définis par la Conférence ministérielle africaine sur l’Environnement (CMAE), le Nouveau Partenariat pour le Développement de l’Afrique (NEPAD), les stratégies nationales pour la réduction de la pauvreté et par d’autres mécanismes, et en fonction des OMD dans leur ensemble.

L’objectif général de ces assises est d’obtenir l’engagement politique qui permettra de catalyser les changements politiques, institutionnels en matière d’investissements nécessaires, pour réduire les risques pour la santé liés à l’environnement afin de garantir le développement durable.

En terme d’objectifs spécifiques, la conférence vise, en premier lieu, la mise en évidence de la nécessité de reconnaître la corrélation qui existe entre l’environnement et la santé afin de parvenir à un développement durable. Et, en second lieu, promouvoir une approche holistique de l’élaboration, dans les secteurs de l’environnement et de la santé, de politiques qui valorisent les services que les écosystèmes rendent à la santé humaine.

« Le principal résultat attendu de cette première Conférence sera une prise de conscience accrue par les Ministres de la Santé et les Ministres de l’environnement de l’interdépendance des politiques, stratégies et programmes de leurs secteurs respectifs. Les Ministres de la Santé seront amenés à mieux comprendre le rôle que peuvent jouer l’évaluation et la gestion des risques pour la santé liés à l’environnement dans la réduction de la charge de morbidité et dans la pérennisation et le renforcement des progrès déjà accomplis dans le domaine de la santé. Les Ministres de l’environnement maîtriseront mieux le rôle que peut jouer l’amélioration de la santé communautaire dans l’amélioration de la qualité de l’environnement, dans une exploitation plus durable des ressources naturelles et l’accroissement de l’appui apporté par les autres secteurs à l’environnement (en tant que déterminant de la santé). »

300 participants parmi lesquels le Vice-président des Comores et 65 ministres doivent prendre part à cette conférence dont les travaux se tiendront du 26 au 28 août à la cité de la Démocratie.

Matthias Offodile

August 23rd, 2008, 08:55 PM

Sorry, for that video, it should be on Morocco´s forum, someone opened a thread on Chansons there.

Matthias Offodile

August 23rd, 2008, 08:56 PM

New player investing in Kenyan telecom

An Indian company announced plans to invest $500 million in Kenya.
Posted on Fri, Aug. 22, 2008

NAIROBI --
Competition in Kenya's telecommunications industry is heating up as the latest entrant in the market announced plans to make the biggest investment in the industry in recent years.

India's Essar Global will invest $500 million over two years in Kenya's newest mobile phone service operator, Econet Wireless Kenya, to set up a network, among other things, said S. Srinivasa, the East Africa director for the group.

Econet Wireless Kenya CEO Michael Foley said the investment will also pay for licenses for other telecommunications services and the establishment of a wireless broadband service. Foley said the mobile phone network would be running by the end of November.

Srinivasa said that Essar will make the investment because the company has confidence in the Kenyan economy, following a deal to end postelection violence earlier this year that killed more than 1,000 people. He said, ``Kenya is the gateway for Africa for Essar.''

According to the regional grouping the East African Community, Kenya has the highest number of mobile phone users in the region (7.3 million), followed by Tanzania (6.2 million) and Uganda (2.7 million). That is based on 2006 figures, which are the most recent comparative statistics.

Essar's proposed investment surpasses that of the semiprivate Telkom Kenya, which is a France Telecom-led consortium owned with the Kenyan government. In May, the company's executives said Telkom Kenya will invest 19 billion shillings ($307 million) over three years to set up a new mobile phone network, upgrade its other telecommunications services and expand its business.

There already are two established operators in Kenya, and Telkom Kenya is set to have its mobile phone service running next month.

Srinivasa said Essar's investment in a mobile phone operator is the first major investment it is making in sub-Saharan Africa. He said Essar will be searching for more opportunities such as negotiating to buy half of the Kenya Petroleum Refineries Ltd., which refines crude oil for Kenya, Uganda and other countries in eastern Africa.

Foley said that once its mobile phone business is running in Kenya, Essar plans to expand to Uganda and other countries in the eastern region and also to set up a call center to serve the region.

Through its subsidiary, Essar Communications Holdings, the group in December 2007 bought 49 percent of South Africa-based Econet Wireless International that in turn holds 70 percent of Econet Wireless Kenya Ltd.

Matthias Offodile

August 23rd, 2008, 11:04 PM

Big boost for the relaunch of coffee and cocoa industry in Gabon!

Gabon : Le gouvernement parie sur le café et le cacao

Dans le cadre des investissements consentis pour les fêtes tournantes de 17 août, le directeur général de la Caisse de stabilisation et de péréquation (Caistab) a procédé au lancement des travaux d'aménagement des sites qui vont accueillir les plantations de cacao et de café, à Mouila, Fougamou et Ndéndé. Ces plantations pilotes d'une superficie totale de 2000 hectares visent à relancer la production de ces deux cultures d'exportation .

La Caisse de stabilisation et de péréquation (Caistab) a décidé de donner un véritable coût de fouet à la relance de la production de café et du cacao, grâce à la création des plantations pilotes à Mouila, Fougamou et Ndéndé.

Le directeur de la Caistab, Mathias Otounga Ossibadjuo, à procédé au lancement officiel de ces plantations pilotes les 16 et 17 aout.

Cet effort vise à créer pour la phase de démarrage 1000 hectares de café et 1000 hectares de cacao.

Les plantations seront reparties au niveau départemental, de telle sorte que chaque département concerné ait une plantation villageoise de 100 hectares pour chacune de ces cultures. 100 hectares de plantations semi industrielles de cacao seront également crées pour la culture de cacao.

La Caistab a multiplié ces deux dernières années des initiatives pour remettre sur les rails la production de ces deux cultures de rente pour en faire un des leviers de la diversification de l'économie. Son directeur général a sillonné le pays pour sensibiliser les paysans sur les avantages socio-économiques de ces cultures.

La production du café et du cacao a atteint son niveau record au Gabon en 1975 avec 17.000 tonnes. Depuis cette date, elle stagne à 300 tonnes l’an, selon les statistiques de la direction générale de l’économie.

Dans l’optique de la relance de ces filières, la CAISTAB a augmenté en octobre 2007 le prix d’achat du café et du cacao aux planteurs. Le prix du kg de café est passé de 400 à 450 FCFA alors que celui du cacao est passé de 600 à 650 FCFA.

En septembre de la même année, le Fonds commun pour les produits de base (FCPB), basé à Amsterdam (Hollande), avait débloqué 20 millions de dollars pour financer un projet pilote de production d’un café robusta haut de gamme, "pour faire du Café gabonais ce qu’est le champagne en France », avait indiqué le directeur général de la CAISTAB, Mathias Otounga Ossibadjouo.

En 2005, le gouvernement avait exceptionnellement débloqué 8000 millions de FCFA pour l’achat les plants de ces cultures aux planteurs. Espérons que ces efforts seront poursuivis dans le suivi et l'encadrement des planteurs pour atteindre les objectifs de la relance de l'agriculture.

Publié le 21-08-2008

nairoberry

August 24th, 2008, 12:37 AM

According to the regional grouping the East African Community, Kenya has the highest number of mobile phone users in the region (7.3 million), followed by Tanzania (6.2 million) and Uganda (2.7 million). That is based on 2006 figures, which are the most recent comparative statistics.
damn they should do another study coz im sure safaricom by itself has atleast 7million subscribers. celtel has abt 3 or 4 million subscribers.

all in all that is still a small number of cellphones users for a country like kenya with a population of 38 million with a high literacy rate.

Lydon

August 24th, 2008, 10:46 AM

Alot has changed since 2006. I'm sure they have far more subscribers now. South Africa is near saturation now, if not there already.

BUTEMBO21

August 24th, 2008, 12:48 PM

friendsofthecity

August 24th, 2008, 08:10 PM

There`s no at the moment. The only ones closer are Egyptian Orascom and the Nigerian Glo

Bond James Bond

August 25th, 2008, 11:58 PM

OK folks, I have stumbled across some maps which tell me that Ghana and the Ivory Coast are sitting atop truly MASSIVE amounts of oil.

These are from the website of an offshore oil prospecting company which is active in West Africa. The brown and orange blobs are prospective oil fields which have not yet been drilled. Notice that the Jubillee field (green, with the label) is actually fairly small compared to some of these others - and they're saying Jubillee has 1.8 billion barrels! Imagine how much oil must be in that big orange one with the "O" atop it!

Ghana
http://www.vancoenergy.com/images/diagrams/Index%20Maps/Ghana-Index-Map_25jul08lg.jpg
Link: http://www.vancoenergy.com/exploration/ghana.htm

Ivory Coast
http://www.vancoenergy.com/images/diagrams/Index%20Maps/CI-401-101-Index-24Jul08lg.jpg
Link: http://www.vancoenergy.com/exploration/cotedivoire.htm

And there are, of course, many more prospects they will eventually find.

You are to blame

August 30th, 2008, 04:01 AM

^^ But the fields are 3D not 2D so i wouldn't assume a larger area means a larger volume but it may.

Kwame

August 30th, 2008, 07:04 AM

African bank set for share issue

African regional banking group Ecobank has announced the continent's largest ever rights issue - to raise $2.5bn (£1.35bn) to help fund its expansion.

Shares will also be offered to new investors on stock exchanges in Ghana, Nigeria, and the West African regional market based in Ivory Coast.

The bank said it was the first African rights issue to be run in more than one stock market simultaneously.

Ecobank operates in 23 countries, after expanding from its base in West Africa.

The capital raised would "further strengthen Ecobank Group's accelerated growth plan to expand its network of branches in countries where it currently operates as well as expand to other countries, thereby consolidating its position as the leading pan-African banking group," the firm said.

Existing shareholders will be offered additional shares at 27 cents each in the rights issue.

A public offering will allow new investors to buy into the banking group at 29 cents per share.

BBC Africa (http://news.bbc.co.uk/2/hi/business/7573070.stm)

GAR3TH

August 31st, 2008, 04:55 AM

4nbAUR1mRWw

Kwame

September 1st, 2008, 02:23 AM

Good News. I just hope Uganda won't make the mistakes that many African nations have made, when it comes to newfound oil. :ohno:

Bond James Bond

September 1st, 2008, 02:25 AM

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/09/01/cnher101.xml

Heritage Oil to reveal Uganda find
By David Litterick
Last Updated: 10:14pm BST 31/08/2008

Heritage Oil will this week announce that it has made a significant oil discovery in Uganda that is expected to have a dramatic effect on the FTSE 250 group's reserves.

The oil group will reveal test results from exploration wells in the Albert Basin near Uganda's border with Congo. Although the area has long been suspected to be a significant source of oil, years of conflict in the region have prevented substantial exploration activity.
advertisement

Heritage has already revealed results from its Kingfisher 1 wells in the area, which saw flows of 10,000 barrels of oil a day. However, the results this week from the adjacent Kingfisher 2 wells are expected to be up to 50pc better, confirming what could prove a transformational discovery for the group.

The company plans to begin drilling wells at Kingfisher 3 next month.

The total acreage of the licence is around 12,000 sq km - the equivalent of 55 North Sea blocks.

Heritage was the first company to obtain exploration licences in Uganda in 1997. It farmed out 50pc to Energy Africa in 2001 before the company was bought in 2004 by Tullow Oil, which is also expected to benefit from the find.

If the fields do prove commercial, the next stage would be to develop a 1,250km pipeline to help export the oil from Uganda, which has limited domestic demand. Full-scale operations could be up and running by 2012.

Heritage is already producing oil from fields in Russia and Oman but analysts believe the discovery could lead to upgrades to reserves in the Albert Basin to hundreds of millions of barrels of oil, potentially doing for Heritage what the discovery of oil in India did for Cairn Energy.

Heritage plans to develop assets in the Kurdistan region of Iraq next year.

Matthias Offodile

September 1st, 2008, 05:05 PM

Noble Tests Positive Oil, Gas at Diega Well Offshore Equatorial Guinea

Noble Energy, Inc. Thursday, August 28, 2008

Noble Energy, Inc. has announced flow test results from the Diega oil discovery in Block "I" offshore Equatorial Guinea. As previously reported, the Diega well, which represents the Company's second oil discovery on Block "I", encountered approximately 38 feet of net gas-condensate pay in the primary zone, as well as an additional 30 feet of net gas-condensate pay underlain by 37 feet of net oil pay in a previously untested feature.

Testing procedures, which were only performed on the oil reservoir, yielded a flow rate of 2,700 barrels per day (Bpd) of oil and 2.7 million cubic feet per day of natural gas. Performance modeling indicates the development well completions can be designed to achieve production rates of approximately 10,000 Bpd of oil plus associated natural gas. Fluid samples taken during the test indicated similar crude oil characteristics to Benita.

The Sedco 700 semisubmersible rig has been released from location.

Charles D. Davidson, Noble Energy's Chairman, President and CEO, said, "The test results from the Diega oil zone are very positive, confirming that this new oil resource can be produced at substantial economic rates. Diega complements our Benita oil discovery, which is targeted for sanction in 2009 with first oil in 2012.

"We are excited and encouraged about the potential in this newly discovered lower Miocene reservoir. Our teams are working aggressively to further identify the extensive potential that remains on our large acreage position and to continue our active exploration and development programs in 2009."

The Minister of Mines, Industry and Energy, H.E. Marcelino Owono Edu, stated, "The Government of Equatorial Guinea is delighted that another discovery has been made in the Equatorial Guinea part of the Douala Basin. The Government believes that this new discovery further confirms the significant hydrocarbon potential of the Douala Basin and highlights the positive investment climate which currently exists within the Republic of Equatorial Guinea."

Noble Energy is the Technical Operator of Block "I" with a 40 percent participating interest. Its partners on the block include Atlas Petroleum International Limited (the Administrative Operator with 29 percent participating interest), Glencore Exploration Ltd. (25 percent participating interest) and Osborne Resources Limited, a company within the PA Resources Group (six percent participating interest). GEPetrol (the national oil company of the Republic of Equatorial Guinea) has a five percent carried interest once commerciality has been determined.

The Company also announced that previously discussed maintenance work affecting its Equatorial Guinea production operations has been completed as expected and the facilities are running at full capacity.

Here is a map showing the areas which are explored so far and those which still need to be explored

http://www.rigzone.com/images/news/library/maps/3/3993.jpg

Matthias Offodile

September 1st, 2008, 07:03 PM

Some info

New Gabonese - Spanish - Chinese real estate consortium is created

Total Gabon has signed a new exploration and petrochemical deal for the next 35 years

New investment code has been presented to make business easier and remove more bureaucracy

Gabon : Les investisseurs étrangers au Gabon

Une délégation d'opérateurs économiques étrangers intéressés par l'environnement des affaires gabonaises a été reçue le 29 août dernier par le président Bongo Ondimba en présence du ministre de l'Economie et des Finances, Paul Toungui. Les investisseurs ont exposé au chef de l'Etat leur projet de mettre sur pied un groupe, sous la forme d'un consortium de chinois de Shanghai, d'espagnols et de nationaux oeuvrant dans le secteur du bâtiment et des travaux publics.

© D.R

Le chef de l'Etat gabonais a initié une série de rencontres avec les investisseurs étrangers le 29 août dernier au Palais présidentiel de Libreville. Dans un premier temps, une délégation mixte d'opérateurs économiques chinois, espagnols et gabonais est venue exposé au président Bongo Ondimba un projet relatif au secteur du bâtiment et des travaux publics.

L'audience s'est déroulée en présence du ministre de l'Economie et des Finances, Paul Toungui, et a permis aux hommes d'affaires chinois de Shanghai ainsi qu'à leurs pairs espagnols et locaux, de soumettre aux hautes autorités du pays la création d'un consortium d'investisseurs oeuvrant dans le secteur du bâtiment et des travaux publics.

Le président de la République a également reçu les membres du bureau directeur de Total Gabon, venus faire le point sur les conclusions de leur dernier conseil d'administration, suite à la publication le 29 août dernier du rapport financier du premier semestre 2008 qui présente une hausse du résultat net de 36%.

"On a renouvelé la convention d'établissement pour 35 ans dans des conditions adaptées et modernisées qui nous ont permis de relancer beaucoup d'activités industrielles"a déclaré un administrateur de la compagnie".

Un ensemble de mesures fiscales, législatives et politiques ont été prises par le gouvernement gabonais depuis quelques années pour favoriser l'environnement des affaires en facilitant les procédures administratives, en proposant un cadre financier et fiscal propice, en maintenant des conditions d'immigrations privilégiés avec certains partenaires et en promouvant sa stabilité politique.

Publié le 01-09-2008

DanteXavier

September 2nd, 2008, 07:14 AM

We might be seeing some oil in Namibia now.

Chariot Oil & Gas says 2d seismic data indicates hydrocarbons at Namibia blocks

LONDON (Thomson Financial) - Chariot Oil & Gas Ltd. said it has doubled its planned initial seismic acquisition 3D programme for its Namibian blocks after 2D mapping presented 'direct hydrocarbon indications'.

The company is seeking preferred bidders for seismic acquisition of the Northern 1811A and 1811B blocks, which is expected to begin during the last quarter of 2008.

It added that talks continue with potential farm-out partners.

http://www.forbes.com/afxnewslimited/feeds/afx/2008/09/01/afx5375406.html

DanteXavier

September 2nd, 2008, 07:16 AM

Property in Cape Verde Will Still Boom

Cape Verde is one of the world’s most popular real estate markets, and the government has issued a statement that it hopes will calm any investor fears and keep the islands growing. The African islands have a wonderful environment and that has helped to spur growth in recent years. But it has also led to fears that there may be too much of a good thing, and there have been worries that the government may slow or stop sales of land to foreigners.

Economy Minister Fatima Fialho recently took steps to stop the rumours, releasing a statement on future plans: “The policy of this Government is to promote foreign investment and negotiations with each promoter will continue to be the same. Every time there is an investor proposal, either national or from overseas, it will be analyzed,' she said. She added that the government was committed to protecting the environment as the beaches and natural beauty are an important part of the country and her government’s policies.

Many new hotels and resort developments are currently under way on the archipelago of 9 inhabited islands that are located approximately 450 kilometers off the west coast of Africa. With all the new property development, there is also a large investment in infrastructure. The recently opened Praia International Airport (RAI) just outside the capital city of Praia makes travel to the islands even easier, and several new roads are under construction or have been finished.

With the islands booming, tourism and international investment are expected to continue to grow for the foreseeable future.

http://www.homesgofast.com/view_news/879/

Nsukka

September 3rd, 2008, 04:17 AM

I don't think any cell phone company will catch VODACOM and MTN anytime soon.

With DRC and ANGOLA ,RWANDA , UGANDA , TANZANIA , MOZAMBIQUE and NIGERIA growing so fast . i don't see any closer contenders ......

any ideas who will catch these giants if so which one ?

Nigeria's Globacom will pass both of them eventually. They are already in talks to buy out one of SA largest communications companies, and they are expanding through West Africa like wildfire... with plans to soon take on the central and East African markets.. just like the Nigerian banks are doing.

I told you'all once and I'll tell you again; at the current pace at which the Nigerian economy is growing, by the virtue of its share size.. in comparison to the other African nations, it wont be long before it simply bulldozes its way into total economic and political dominance within in the continent. It's called the Sleeping Giant effect. We've seen it happen with the US and China and it will eventually happen with Nigeria, and Africa will be the first to feel and experience the effect.

Many of you may not take my words serious, though I've witnessed and recorded this pattern before and Nigeria is trailing along it like water down a river.. and most wont realize the power behind this steady calm moving river like flow until it falls upon them like a water fall plowing down upon their heads. :lol:

BUTEMBO21

September 3rd, 2008, 09:39 AM

i guest people won't realize it untill they see with their eyes.

good to see an african giant becoming an african invester . that's what will make africa competitive.

MBA-Congo

September 3rd, 2008, 11:44 PM

Venezuela and South Africa to sign energy deal: official
2 days ago

JOHANNESBURG (AFP) — South Africa will sign an energy agreement with oil-rich Venezuela on Tuesday that could provide alternative energy sources to Africa's powerhouse economy, the government said.

"Venezuela has one of the largest oil reserves in the world and developing commercial relations in this sector could provide alternative sources of energy to South Africa," Foreign Affairs spokesman Ronnie Mamoepa said in a statement Monday.

Venezuelan President Hugo Chavez will arrive in South Africa later in the day on his first state visit to South Africa and is expected to discuss political, trade and economic relations with President Thabo Mbeki.

Also on the agenda is the strengthening of South-South relations - between the two continents - and the second Africa-South American Community of Nations Summit to be hosted by Venezuela in November.

A crisis in South Africa's coal-driven electricity supply brought the country's key mining industry to a halt earlier this year with massive blackouts blamed for poor first quarter growth.

Venezuela, a member of oil cartel OPEC (Organisation of Petroleum Exporting Countries), has one of the world's largest oil reserves.

The two countries will also discuss mining, armament, agriculture and public works as well as strengthening of South-South relations through cooperation in the Non-Aligned Movement and the G77 + China fora, the statement added.

United Democratic Movement (UDM) leader Bantu Holomisa has welcomed the signing of several memorandums of understanding between South Africa and Venezuela.

"The UDM welcomes the bilateral agreement between the two, especially the energy co-operation aspects of the agreement, which will see us cutting out the middleman and buying oil directly from one of the major oil producing countries in the world," said Holomisa in a statement on Wednesday.

Holomisa said it was one of the most important economic agreements South Africa had entered into in recent years.

President Hugo Chavez's visit was the first by a Venezuelan head of state to South Africa.

Kwame

September 4th, 2008, 04:48 AM

Great news, it's always great to have cross-continental relations. :cheers:

MBA-Congo

September 4th, 2008, 03:46 PM

Angola becomes Africa’s largest oil producer
By Brian Smith
4 September 2008
Use this version to print | Send this link by email | Email the author

Angola overtook Nigeria this year as Africa’s largest, and the world’s eighth largest, oil producer—a combination of Angola’s surge in growth and Nigeria’s decline in production following rebel attacks on its oilfields.

Angola is now producing over 1.9 million barrels per day (bpd) of high-quality crude oil from onshore and near-shore fields, up from 900,000 bpd in 2002 and from 500,000 bpd in 1993. Nigeria’s output has declined by a quarter from 2.5 million barrels bpd in 2006 as its production has been hit by rebel attacks, primarily the Movement for the Emancipation of the Niger Delta (MEND).

Nigeria’s decline in production worries the West, and the British government recently agreed to provide training and logistical support to the Nigerian military to combat rebel attacks and to protect its own interests—primarily British Petroleum’s (BP) activities in the country.

Angola too faces the threat of disruption to its onshore oil production from the rebel group Front for the Liberation of the Enclave of Cabinda, though they are currently less well organised than MEND. Nevertheless, the threat has led Angola to redirect investment toward offshore deposits, where the ocean acts as a buffer against violent attacks.

The oil sector produces more than half of Angola’s GDP and 95 percent of its exports, and the government is seeking to expand this by developing the country’s ultra-deep offshore oilfields, at a depth of 1,500 to 3,000 meters. They hope that this will add an estimated 500,000 bpd to the current output level. Energy consultant Wood Mackenzie currently predicts an unconstrained peak for Angolan oil production of between 2.2 million and 2.3 million bpd within five years.

In a bidding round two years ago Angola received $3 billion for the rights to three drilling licences from consortia led by Eni, Total and Petrobas. A further round is under way offering up 10 new blocks. Exxon began pumping from new block 15 in July this year and Chevron will start producing 125,000 bpd from block 14 in 2009.

Angola is also hopeful of beginning to export liquefied natural gas by 2012, with national petroleum company Sonangol; Chevron, Total, Eni and BP having invested $4 billion to produce 5 million tonnes a year.

Angola’s surge in growth has produced a desire within the ruling class for it to become a regional power on par with Nigeria and South Africa. President José Eduardo dos Santos’ decision to join OPEC appears primarily as a sign of Angola’s return to the world stage following the end of its civil war six years ago.

Dos Santos has been critical of South African President Thabo Mbeki’s handling of the Zimbabwe situation and his leniency regarding President Robert Mugabe. He has also been critical of the surge in anti-immigrant violence in South Africa. Both of these positions play to an international audience.

Angola has also developed ties with fellow Lusophone countries both within Africa and outside. It has invested some of its oil wealth in Guinea-Bissau and Mozambique, and has strong ties with both Brazil and Portugal. The largest private investors in Angola (outside of oil) are Portuguese and exports from Portugal to Angola rose in 2007 by 39 percent, to €1.4 billion.

The United States has a strategic interest in Angola and its armed forces now cooperate closely with Angola’s, despite the US having previously backed rebels against the formerly pro-Stalinist government.

Angola has begun to assume a military role in Africa, in keeping with Western interests, and is active in both Congo-Brazzaville and Congo-Kinshasa, its neighbours to the north. In the former it is helping to train units of the army, and in the latter it has offered to deploy troops along the frontier with Rwanda to help stabilise the Kivu provinces.

French President Nicolas Sarkozy has also promised a “strategic alliance” between France and Angola following his visit in May, the first such high-level visit in 10 years. Sarkozy was accompanied by representatives of French transnationals, including oil company Total and defence electronics company Thales. Total plans to double its oil production of 300,000 bpd within six years and to begin production at three ultra-deep fields between 2009 and 2011.

With growing instability in the Middle East following the US-led “war on terror,” Africa has become increasingly important for global oil and natural gas supplies. Africa holds only around 9 percent of the World’s proven oil reserves (compared to almost 62 percent from the Middle East), though industry analysts believe it could hold significant undiscovered reserves.

The US and China in particular have sought to exploit the continent’s resources taking 33 percent and 9 percent respectively of the continent’s total exports in 2006. China now receives about one third of its oil imports from Africa, with 85 percent coming from just five countries: Angola, Equatorial Guinea, Nigeria, the Republic of Congo and Sudan. Angola exported approximately 465,000 bpd to China in the first half of 2007.

Beijing secured a major stake in Angola’s future oil production in 2004 after promising a $2 billion package of loans and aid including funding for roads, railways, bridges, schools, hospitals and a fibre-optic network. In addition to oil, China’s manufacturing sector has also created enormous demand for timber, aluminium, copper, nickel, iron ore and diamonds.

Trade between China and Africa rose six-fold between 2002 and 2007, from around $9 billion to $73 billion, and it is now Africa’s second-highest trading partner behind the United States.

Foreign direct investment (FDI) into Africa almost doubled between 2002 and 2007 to $36 billion as global companies sought to exploit high commodity prices.

In sub-Saharan Africa some 75 percent of FDI went to just five countries—South Africa, Nigeria, Angola, Sudan and Equatorial Guinea—while the bottom 24 countries received only 5 percent. Almost all this investment went towards the extraction and removal of the continent’s natural resources, with the overwhelming majority being channelled into petroleum extraction. In Nigeria, for example, 79 percent of FDI (about $4 billion) goes to petroleum projects.

FDI in infrastructure includes road and rail networks, but investors are only concerned with getting goods to market, e.g., connecting the mines to the ports, and there has been no attempt to build national, never mind transnational, transport links.

By far the most profitable sector for investors is in offshore oil and natural gas production. In Angola, for example, the vast majority of total FDI inflows go to offshore drilling.

International banks, commodity interests and construction companies are queuing up to exploit Africa’s mineral wealth, and Angola is a prime target.

Europe’s banks are opening lines of credit with Angola worth €1 billion, following Brazil that opened credit lines of $1.3 billion in 2006. Sonangol, whose turnover in 2007 was $17 billion—almost a third of Angola’s GDP—acts as a sovereign wealth fund to strengthen Angola’s international credit rating.

Angola is proposing to reopen and expand the vast iron ore deposits of Cassinga and Cassala Kitungo, and several large multinational firms, including Australian giant BHP Billiton, have shown an interest. Meanwhile the state diamond firm, Endiama, hopes to produce more than 10 million carats of diamonds this year for the first time.

A boom in construction will give new ports for Luanda, Lobito, Cabinda and Porto Amboim as the current port system cannot cope and there are regularly 30 or so vessels moored offshore for weeks waiting to dock. Luanda will also get a new airport.

Despite the capital needing 400,000 more new houses for its working population, almost all of the construction has been geared towards foreign visitors and the new middle class. Five new hotels have been opened this year, and ten more are under construction along with marinas, golf courses and luxury flats. Luanda has reportedly taken over from Tokyo as the world’s most expensive city for visitors.

The government dominates the economy since oil revenues go overwhelmingly to the state. The political and military elite have ensured that they maintain an important foothold in industries such as the diamond sector, by enacting laws that require local partnerships.

On paper, Angola is now a middle-income country, though 70 percent of the population live below the poverty line with life expectancy just 41.7 years. Only 2.7 percent of new investment is for agriculture and the disparity between those who have benefited from the boom, and the majority living on the land that have not, is shown in a comparison of incomes. The average income in Luanda last year was $3,476, whereas inland at Bié it was just $201.

MBA-Congo

September 4th, 2008, 10:29 PM

South Africa: Sabmiller to Bring Dreher to SA Premium Market

Business Day (Johannesburg)

4 September 2008
Posted to the web 4 September 2008

Thabang Mokopanele
Johannesburg

SABMILLER, the world's second-largest brewer, will introduce a new premium brand, Dreher Premium Lager, in October.

The group sees sustainable opportunities in the premium market, even though the sector's growth has softened recently. The new brand follows the successful introduction of Grolsch into the South African market.

As part of its European expansion, SABMiller purchased the rights to the Dreher brand in 1993. South African Breweries would brew Dreher Premium Lager under licence in SA as an extension of the Dreher range of beers.

"This is testimony to our commitment to continue providing the right brand portfolio for our customers and great brand choices for consumers," SAB MD Tony van Kralingen said.

"The introduction of Dreher is part of our long-term strategy to provide consumers with diverse and interesting alternatives that will appeal to the premium beer target market," he said.

Van Kralingen said Dreher offered an exceptional beer-drinking experience that would give consumers of premium brands a competitive and accessible alternative.

"The beer market has historically been resilient in tough economic times and it is likely to perform similarly in the current economic climate," he said.

SAB's marketing director, Ian Penhale, said the brewer based the introduction of new brands on consumer-based insights and assessments of potential opportunities.

"In the case of Dreher, we determined that there was an opportunity to provide a midpriced brand for discerning consumers who appreciate the craftsmanship inherent in premium-quality brews. Dreher is a smooth, finely flavoured lager with a typically European full-malt recipe and distinctive brewing style," Penhale said.

The lager-style beer was triple-hopped, with three types of hops added at different stages of the brewing process, resulting in a distinctive aroma, flavour, and fine bittering, he said.

Dreher Premium Lager is described as an easy-drinking full-malt lager with a 5% alcohol content by volume. It will be available in 350ml nonreturnable bottles through on-trade and off-trade premises.

The brand will be heavily supported through an extensive TV, radio and outdoor campaign, as well as in-store promotions and events.

This brings the total number of premium brands in the SAB stable to seven, and its total brand portfolio to 16. SAB has grown its brands portfolio more than 60% since 2000.

DanteXavier

September 5th, 2008, 05:21 AM

Angola's oil fields fuel economic growth

LUANDA (AFP) — Long ignored by foreign investors except China, oil-rich Angola is riding on growing foreign interest, prompting the government to play the competition card and distance itself from Beijing.

"Obviously, the Angolans don't want to offend the Chinese who remain an important business partner, but relations between the two countries have cooled," said Lucy Corkin, projects director at the Centre for Chinese Studies at Stellenbosch University in South Africa.

Today, Angola officials "don't want China to be an overwhelming presence in the economy," she said.

And since Luanda's promises to hold its first peacetime elections after a three-decade-long civil war -- with voting taking place Friday -- money from foreign donors such as the World Bank and Spain has poured in.

To be sure Chinese workers in overalls, wearing safety helmets or operating mechanical diggers, remain common sights on Luanda's streets.

They are real-life examples of the role Beijing has played in rebuilding a country devastated by 27 years of civil war.

At the end of the conflict in 2002, "Angola was looking for sources of financing all over the world, but could not get it because they had a bad record with the international financial community," said Ana Christina Alves, a researcher at the Portugese university, Institueo do Oriente.

"At that time, China was giving money to all African countries. They came at the right time. They were welcomed," Alves said.

Since 2004, the Chinese government has opened 4.5 billion dollars (3.1 billion euros) in credit lines to finance about one hundred reconstruction projects.

The China International Fund (CIF), an investment group which helps Chinese companies expand overseas, has released 2.9 billion dollars in loans.

Yet there is a certain opacity in the operations of the Chinese, who live in isolation on building sites concealed by high fences.

In return, Chinese imports of Angolan crude oil have increased sevenfold over the past six years.

"China needs natural resources and Angola needs development," President Jose Eduardo dos Santos said in 2006, summing up the relationship.

Now, however, Angolan officials "realise that Chinese companies are not the only companies that are interested in Angola," said Corkin, and are beginning to set conditions.

The changing attitude was underscored in March when two petrol companies, China's Sinopec and Angola's Sonangol, abandoned a joint project to build an oil refinery in the western port of Lobito.

Beijing wanted to import 80 percent of the refinery's production, while Luanda -- which has a single oil refinery -- wanted to favour its domestic market and other clients.

With a crude oil production of roughly two million barrels a day, Angola closely rivals Nigeria for the title of Africa's largest oil producer. Its growth will likely surpass 20 percent this year.

http://afp.google.com/article/ALeqM5g-t8ZWKaZVucabZ0corw8tTDux_A

DanteXavier

September 5th, 2008, 05:25 AM

Japan Leads the Way in Africa’s Economic Development

In the last 15 years, Japan has emerged as the global leader in the development of Africa. By doing so, it has also strengthened its bilateral relations with the continent and has secured economic benefits for both parties.
A major way Japan has spearheaded the task of invigorating Africa’s economy is through the Tokyo International Conference on African Development (TICAD). The TICAD is a conference in Tokyo held every five years to improve relations between Africa and its development partners. The first TICAD, TICAD I, took place in 1993, and the most recent, TICAD IV, wrapped up at the end of May of 2008. At all four conferences, Japan has reinforced its long-term commitment to promoting peace and economic stability in Africa.
During TICAD I, Japan took the lead in producing the “Tokyo Declaration on African Development,” a document that aimed to encourage high-level policy dialogue between Africa and its development partners. Japan remained optimistic about Africa's potential though many other of Africa's development partners began to lose interest. At the end of TICAD I, several prospects appeared promising, though almost nothing was guaranteed.
Five years later, TICAD II generated the “Tokyo Agenda for Action,” which was much more action-oriented than the Tokyo Declaration on African Development. This document called for poverty reduction and a push for Africa’s integration into the global economy. TICAD III drew over 1,000 African delegates including the Chairperson of the African Union, Thabo Mbeki. This conference analyzed the achievements of TICAD over the past 10 years and developed future goals for African development.
TICAD IV took place from May 28-30 2008. Japan's Prime Minister Yasuo Fukuda met with representatives from 51 African countries, 22 donor nations, and 55 international organizations. In all, more than 3,000 people participated in TICAD IV making it the most heavily attended TICAD of the four. The conference aimed to boost economic growth, ensure human security, and address environmental issues in Africa.
The conference recognized that the key to Africa's growth is the development of the continent’s infrastructure. History has proven that improvements in transportation infrastructure attract more private investments. Japan has targeted Africa's infrastructure as the main area it will develop, pledging $4 billion in Official Development Assistance (ODA) loans by the end of 2012. Increasing ODA loans will encourage Japanese private-sector investment in Africa. Furthermore, Japan will double its grant aid and technical cooperation in the next five years. The Japanese government will also establish a fund at the Japan Bank for International Cooperation that aims to double investment in Africa.
At the conference, Prime Minister Fukuda also tracked Africa’s economic progress over the past decade. Sub-Saharan Africa's economy grew at a rate of 5% from 2004-2007 and reached 6% in late 2007. Japan will look to further increase Africa's economic growth by helping the continent double its rice output to 28 million tons by 2018. Furthermore, Japan will give a significant portion of a $100 million global emergency food assistance package to Africa.
Africa has long complained that though it contributes very few greenhouse gases, it must still suffer the effects of global warming. Africa only contributes about 3.8% of the world’s greenhouse gas emissions. By taking the lead on climate change initiatives, Japan has indirectly assisted in resolving Africa’s environmental problems. Japan’s “Cool Earth 50,” introduced in 2007, aims to reduce greenhouse gas emissions by 50% by 2050. Japan has also led the way in the creation of the $10 billion Climate Change Fund. In addition, Japan automakers have made a push to produce cleaner, more fuel-efficient cars including many hybrid models.
In the next five years, Japan will train 100,000 people as health workers who will travel to African countries that suffer from a shortage of health care. Japan has also pledged $560 million to the Global Fund to fight AIDS, Tuberculosis, and Malaria, about $330 million of which will go directly to Africa.
The TICAD conferences have given Japan tremendous opportunities to strengthen diplomatic and economic ties with Africa. As a resource-rich continent, Africa can offer Japan many precious metals that the country needs for its high-tech industries. Africa is home to 89% of the world's platinum, 60% of its diamonds, 34% of its chrome, 37% of its zirconium, and 53% of its cobalt. Because the Japan Bank for International Cooperation is providing $490 million to co-sponsor a nickel mining project in Madagascar, Japan’s Sumitomo Corporation will have the right to purchase 30,000 tons of nickel annually. In addition, Japan will begin to import platinum, nickel and cobalt from Botswana.
With strong bilateral ties with Africa, Japan also has Africa’s support as it seeks a permanent seat on the UN Security Council. The African countries account for 25% of the UN General Assembly. Africa’s support has been crucial to Japan winning the Asian non-permanent Security Council seat in 1996 and the election of Shigeru Oda to the UN International Court of Justice. If it is to secure Africa’s political support and imports of raw materials, it is in Japan’s best interest to continue to assist Africa in its economic development. As long as Japan continues to invest in Africa and solidify ties with it though future TICAD conferences, both parties will continue to gain significant benefits.

http://www.quamnet.com/newscolumnistcontent.action?articleId=938115

Kwame

September 5th, 2008, 05:28 AM

Good find Dante, I myself am glad that Angola is realizing that it doesn't want such a huge influence from just one Country (China). By reading that article, it put my fears to rest that China would control a lot of economic activity there. :cheers:

A lot of other African nations need to be taking notes from Angola, because I believe they're by far the most responsible country in Africa when it comes to their economy, and how they decide things. IMO, Angola is a perfect example for countries with oil, who were previously war torn (DR Congo, Uganda, Liberia). Just my :2cents:

MBA-Congo

September 10th, 2008, 04:52 PM

DAILY NEWS Reporter
Daily News; Wednesday,September 10, 2008 @00:01

President Jakaya Kikwete yesterday launched a civil society platform of the African Union (AU), saying the newly created body will make governments on the continent work closer to the people. The Economic, Social and Cultural Council (ECOSOCC) launched at a Dar es Salaam hotel, is an advisory organ of the AU comprising civil society organizations.

“With the establishment of ECOSOCC we are creating a people-oriented and people driven community in the AU where all stakeholders are represented,” President Kikwete said. He said the civil society has now become an integral part of policy formulation, implementation, monitoring and evaluation with the AU.

Mr Kikwete, who is the AU Chairman, urged the civil society on the continent to promote and safeguard African interests, not just some masters elsewhere. Members of the ECOSOCC Permanent General Assembly were sworn-in during the ceremony, also attended by the Minister for Foreign Affairs and International Co-operation, Mr Bernard Membe and the AU Commission Deputy Chairperson, Mr Erastus Mwencha.

Apart from civil societies across the African continent, the ECOSOCC Permanent Assembly would also have representatives from the African Diaspora. The presiding officer of the Interim ECOSOCC General Assembly, Prof. Wangari Maathai of Kenya, said 25 African countries had so far picked representatives.

She listed the countries as Algeria, Benin, Burkina Faso, Burundi, Cameroon, Republic of Congo, Ivory Coast, the Democratic Republic of Congo, Egypt, Ethiopia, Ghana and Guinea. Others are Kenya, Madagascar, Malawi, Mali, Mauritius, Niger, Nigeria, South Africa, Sudan, Tanzania, Tunisia, Uganda and Zambia. Mr Akere Muna of Cameroon was elected first Presiding Officer of the newly-created organ and was also sworn-in yesterday.

Moving a vote of thanks, Mr Muna declared that ECOSOCC would always strive to serve African interests and no one else. He said there were people outside the continent who were responsible for many of African problems such as graft and civil wars. “Most of the armaments used in African wars and civil unrest are made outside the continent. “There is also the other side of corruption outside Africa. We have often read about BAE, Siemens and many others,” Mr Muna added.

You are to blame

September 11th, 2008, 04:04 AM

Africa: Business Reforms Gain Momentum - Report
allAfrica.com

10 September 2008
Posted to the web 10 September 2008

François Gouahinga
Washington, DC

There’s good news for African business in a new report: four of the 10 countries in the world which have shown the most improvement in implementing business reforms are from the continent.

Senegal, Burkina Faso, Botswana and Egypt are among the countries which have jumped the highest number of places in the rankings of business reformers in the last year, according to Doing Business 2009, a World Bank/International Finance Corporation (IFC) report released today.

And sub-Saharan Africa is the second-best reforming world region in facilitating the conduct of business.

The report offers an annual assessment of how easy it is to conduct business by surveying 10 key indicators that correspond to the various stages of the life of a business: starting it up, dealing with construction permits, employing workers, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and closing it down.

Report data shows that 28 sub-Saharan countries enacted 58 positive reforms in 2008. The numbers go even higher when North African countries, grouped in the report with the Middle East, are included.

Mauritius is Africa’s top business reformer. It ranks at 24th place out of 181 countries on the global index, well ahead of most European Union countries, including G8 members such as France, Germany, and Italy.

This is the first time a country south of the Sahara has appeared in the top 25 countries. Economic powerhouse South Africa comes in second, at 32nd place.

This year’s findings are “good news for Africa,” Sabine Hertveldt, senior private sector development specialist at the IFC in Washington and co-author of the report, told AllAfrica in an interview.

“Analysis shows that in countries that do well on these rankings there is also much more welfare and economic growth,” she said.

The survey relies on published laws and voluntary submissions by lawyers, businesspeople and government employees involved in regulatory processes affecting the private sector.

“The idea behind… [the survey] is to show how complex business regulations can be a burden for economic growth,” Hertveldt said. Governments around the world pay attention to the rankings, she added, because investors look at them before deciding to get involved in an economy. “No country would like to be ranked in the bottom third of the global list.”

Nevertheless, 16 countries – including Algeria, Comoros, the Democratic Republic of Congo, Ethiopia, Guinea Bissau, Sudan and Uganda – implemented no major reforms. Eight countries took a step backwards by making things more difficult in at least one area. They included Benin, Gambia, Cape Verde, Gabon, Equatorial Guinea and Zimbabwe.

English-speaking African countries fared better than their French- and Portuguese-speaking counterparts. For example, of the 10 top-ranked countries on the continent, only Tunisia does not have English as an official language. And only three of the bottom 10 African countries – Eritrea, Guinea Bissau, and Sao Tomé y Principe – do not have French as an official language.

On the global index, nearly half of the 34 worst performers are members of the Organization for Harmonization of Business Law in Africa (OHADA), a 16-nation bloc that gathers former French colonies plus Guinea Bissau and Equatorial Guinea under a uniform business code. While other countries can easily amend their business laws to adapt to a changing environment, changes within OHADA must be agreed upon by all member states, which vary greatly in size, economic specialization and per-capita income.

Hertveldt noted: “[These] countries have based their laws on French laws, and France has since updated its laws, but sometimes certain countries are still stuck with these laws from the past.” In contrast, she said, “countries at the top of the rankings have the ability to change their laws quickly.”

The report highlights improvements made in countries that have recently emerged from conflict: Liberia, Rwanda and Sierra Leone have improved their rankings, taking advantage of the peace dividend to generate notable economic momentum.

Hertveldt said improvements in rankings attracted investors. “IFC has done simulations of what [investors] would have earned if they had invested in the smaller countries that are improving the most, [and found that] they would have earned 30 percent more than they earn now by just going to big countries,” she said.
Relevant Links
Economy, Business and Finance
International Organizations and Africa

No information was available for Libya, Somalia and Western Sahara.
http://allafrica.com/stories/200809100047.html

Matthias Offodile

September 12th, 2008, 07:55 PM

Ghana's inflation drop to 18.1 percent

afrol News, 12 September - Ghana’s inflation fell to 18.1 percent in August from 18.3 percent in July, country's statistics agency said today.

According to state agency, rising global prices for food and fuel earlier in the year pushed inflation to near three-year highs. In July, the central bank increased its prime lending rate to 17 percent, citing rising inflation. The next rate decision is due in October, the Bank of Ghana said today.

Inflation surged to 18.4 percent in June, its highest level since January 2004 and way above the central bank's initial target range of 6-8 percent for 2008.

Head of economic statistics at Ghana Statistical Service Ebo Duncan said eased food crops availability during harvest had helped to ease food component of inflation, and he expected prices to fall again in September.

"We are in the harvest season and the expectation is that there will be a further easing in the inflation for next month, all things being equal," he said.

Ghana's financial authorities have repeatedly cited rising world oil prices as a major cause of inflation and imbalances in the economy, but, with fears growing of a global economic slow-down, oil prices have fallen back in recent weeks.

"Although still too early to say that inflation has peaked in any comprehensive sense, at least it seems to be moving in the right direction, albeit very slowly," said Razia Khan, head of Africa research at Standard Chartered in London.

She said stabilisation of the country's economy since Ghana Telecom was privatisatised, as well as decline in oil prices are further positives for the inflation outlook.

Inflation in the first half of 2008 was driven in part by an accelerated fall in Ghana's cedi currency, which lost 17 percent of its value against the dollar by July 31 before stabilising.

Analysts have said government's sale of a 70 percent stake in fixed-line monopoly and mobile operator Ghana Telecom to Britain's Vodafone Group for $900 million was a factor in the cedi's stabilisation.

By staff writer

MBA-Congo

September 13th, 2008, 03:14 PM

Wbf8VB7I6BU&feature
china accused

oj3fBqDTicM&feature
china accused

aR3W9LrBzwc&feature
EU-AFRICAN Relation

MBA-Congo

September 15th, 2008, 06:47 PM

Asantehene woos Indian, Congolese investors

By Issah Alhassan, Kumasi | Posted: Monday, September 15, 2008

The Asantehene, Otumfuo Osei Tutu II, has advocated a closer business relationship between the Indian business communities, and their counterparts in Ghana.
He has therefore appealed to the India High Commissioner to Ghana, Mrs. Ruchi Ghanashyam, to use her good office to help establish Technical and Vocational training institutions in the country, to provide entrepreneurial skills for the youth in Ghana.

Oumfuo Osei Tutu, who made the call when Mrs. Ruchi Ghanashyam, called on him at the Manhyia Palace, noted that Ghana, as a developing country, needed a lot of middle level manpower to push the economy, and since India was well versed in technical and vocational education, their presence in the country would be very beneficial.

He expressed gratitude to the Indian government, for offering a number of scholarship schemes, which had enabled Ghanaian students to study in various institutions in India, and appealed for increase in the number, to give the youth in Ghana more opportunities to study in India.

The Asantehene recalled how in the past, private businessmen came to the country to establish private businesses, which offered employment to the youth, adding “they contributed immensely to the building of Ghana’s economy, through the private sector.”

He stated that Ghana had a lot to learn from her counterparts in Asia, under the South-South Co-operation, stressing that India and China were shining examples to the rest of Africa.

The Asantehene, therefore, prayed for peaceful co-existence between India and her neighbour, Pakistan, in the midst of political instability that had bedevilled the latter.

Mrs. Ghanashyam, on her part, said following the good relationship between India and Ghana, trade between the two countries had doubled.

She mentioned a number of projects including the establishment of the Kofi Annan ICT Training Centre, Agro Processing companies, and the construction of the Presidential Complex in Accra, as India’s contribution towards the development of the Ghanaian economy, in recent times.

She disclosed that the government of India had instituted some short courses in Agriculture, ICT and other Science-related studies, which would soon be made available to interested Ghanaian students wishing to take part in the various disciplines.

The High Commissioner was accompanied to the Manhyia Palace by her husband, Mr. A.R Ghanashyam, who is also the Indian Ambassador to Angola.

In a related development, the Asantehene has expressed his appreciation, to the government of the Democratic Republic of Congo, for establishing a consulate section in Kumasi, to enable businessmen who want to deal with that country, have easy access to figures and information concerning the Central African country.

The Asantehene noted that DR Congo was endowed with huge mineral resources, which were yet to be tapped, and hoped that expertise in Ghana would be utilised in that direction.

The occasion was when Mr. Ngeleka Dimata, Honorary Consulate of the DR Congo in Kumasi, paid a courtesy call on the Ashanti King at the Manhyia Palace, to officially introduce himself.

The Asantehene traced the history of the good relationship between Ghana and DR Congo, dating back to the early days of Ghana’s independence, and the assistance Ghana offered to that country, through the then President, Dr. Kwame Nkrumah.

He described the President of DR Congo, Mr. Joseph Kabila, as a humble man, who had worked hard to ensure the sustenance of democracy in that country.

Mr. Dimata expressed his country’s gratitude to Ghana, for assistance in the area of trade, commerce, and the maintenance of peace.

He stated that there were now 500 Ghanaian troops serving under the United Nations Peacekeeping mission in DR.Congo, and hoped that through their efforts, his country would remain peaceful.

He disclosed that some Congolese businessmen had established a company in Kumasi, which would deal with the assembling and exporting of computers to neighbouring countries in West Africa.

MBA-Congo

September 16th, 2008, 06:37 AM

Angola: Country to Assume Opec Presidency in 2009

Email This Page

Print This Page

Comment on this article

Visit The Publisher's Site

Leadership (Abuja)

14 September 2008
Posted to the web 15 September 2008

Betrand Nwankwo

Angola is to chair the Organisation of the Petroleum Exporting Countries (OPEC) as from Jan. 1, 2009, Angolan Oil Minister, Desiderio Costa has disclosed.

"This is an announcement that helps plan our country both politically and economically and also is what we intend: establishing Angola in its right place," added Costa.

The Angolan oil minister highlighted the fact that the news arrived at a very special moment for Angola, just after the holding of the parliamentary election on September 5, the first since the 27-year civil war ended in the southwestern African country in 2002.

Angola became a full OPEC member during the organisation's 143rd extraordinary meeting held on December 14, 2006 in Abuja, the capital of Nigeria.

MBA-Congo

September 16th, 2008, 06:51 AM

Namibia: Country First to Export Certified Natural Beef

Email This Page

Print This Page

Comment on this article

The Namibian (Windhoek)

15 September 2008
Posted to the web 15 September 2008

Brigitte Weidlich

Namibia has made history by becoming the first African country to start exporting free-range certified beef.

The free-range beef brand is called Nature's Reserve and consists of three high-quality products, Nature's Reserve Choice, Nature's Reserve Finest and Nature's Reserve Select, coming only from Namibian farms, where cattle roam freely and feed on natural grasslands.

Nature's Reserve Finest free-range beef falls into the highest category in that the beef is selected by age and carcass weight to ensure consistent cut specifications.

This is underpinned by stringent pH-testing, and all meats are wet-matured for 28 days before reaching the customers.

Nature's Reserve Select range beef has the same specifications as the Nature's Reserve Finest range, and only differs in that carcasses are selected from a lower weight range.

Introducing the new brand to local media in Windhoek last Thursday, Meatco's Chief Executive Officer Kobus du Plessis said: "The heart of the brand is the freedom of the cattle to express natural behaviour. The purpose of the different box colours is to establish brand identity."

The Nature's Reserve brands are priced differently to suit each consumer's pocket.

"Meatco's meat producers - the farmers - are serious about the environment, an environment ideally suited to breeding cattle in harmony with nature. With its endless grasslands, Namibia is a naturally free-range country and beef from natural grazing is much tastier than from a feedlot. Another important feature is that Namibian laws prohibit antibiotics and hormones, while stringent animal welfare policies are in place and adhered to. The use of gin traps and poisons on all farms belonging to Meatco's suppliers is prohibited," Du Plessis added.

The free-range beef is certified under the Farm Assurance Namibia System (FanMeat), operated by the Meat Board of Namibia and introduced a few years ago.

Relevant Links

Southern Africa
Food, Agriculture and Rural Issues
Economy, Business and Finance
Capital Flows
Namibia
Nutrition
Sustainable Development
Trade

This system offers traceability of individual animals, which have ear tags, and ensures quality standards and procedures on farms as well.

MBA-Congo

September 17th, 2008, 04:32 PM

DRC mining contract review nearing completion
Text Size
By: Esmarie Swanepoel
Published on 17th September 2008
Updated 1 hour 4 minutes ago
The Democratic Republic of Congo’s (DRC’s) mining review process was in its final phase, with negotiations between the State and a number of the 61 contract holders nearing conclusion, the Ministry of Mines said this week.

However, some of the contract holders still had to make “meaningful contributions” to the negotiations before the September 30 deadline, the government said in an emailed statement.

The government launched a review last year of 61 mining contracts, many signed during the country's 1998 to 2003, war.

Deputy Minister of Mines Victor Kasongo commented that although the process did appear to be working, there were still some companies that needed to come forward and engage with the government. “I urge those which situations are retrievable to do so, our door is open and we are ready to listen.”

Of the 61 mining companies in the renegotiation process, 14 companies had already satisfied all the criteria set out by the Ministry. Kasongo stated that others were approaching finalisation, and details of these would be made available once negotiations were completed.

However, the government noted that there had been a certain intransigence on the part of some operators to understand that what might constitute a ‘good deal’ for the company, did not necessarily mean that the contracts were profitable for the DRC.

Kasongo stated that the review had revealed the extent to which some contracts were not viable or had in some way failed on feasibility, adherence to the mining code, or had otherwise not realised the terms of business agreed upon in the outset.

“We are committed to ensuring that all mining contracts deliver maximum value and return on investment for all stakeholders, as well as employment and revenue opportunities for the Congolese people and businesses. When this cannot be identified and realised, then we have to follow the letter of the law and revoke the licence concerned.”

He added that when mining contracts were awarded, they were intended for active mining. “We are having to now adopt a firm policy towards the contracts and licences of use them, or lose them.”

With the negotiation process in its final stage, the companies under review have been separated into three different categories based on a required criterion.

The 14 countries that fall within the ‘Green Light’ companies have successfully produced feasibility studies of the future development of the mining assets and were now entering final negotiations with State entities.

The ‘Orange Light’ companies, which numbered 25, were making some progress. However, these companies needed to renegotiate and modify their contracts, and they were given from an additional 12 to 18 months to produce a viable plan for an ongoing private and public partnership.

The remaining 22 companies were classified as ‘Red Light’ companies, and the Ministry stated that their contracts were so far out of line with mainstream international practices, as to warrant cancellation. These companies now had to seek to negotiate new contracts, rather than modifying existing contracts.

The Ministry stated that at least three of these companies had little chance of retaining a foothold in the minerals rich DRC.

The renegotiation process only covered known existing assets, and the DRC government was insisting on shared ownership of future discoveries of mineral reserves. This would be based on the standard international practice of a 51% and 49% share between the parastatals and the private companies.

There would also be an element of compulsory subcontracting, which was to be given to Congolese-owned firms, to increase the local employment rates and the standard of living.

However, the Ministry said that although existing contract companies had a shareholding that fell short of international standards, the DRC government would not penalise these companies, in recognition of the commitment they made by remaining active during the DRC’s unstable past.

MBA-Congo

September 17th, 2008, 04:33 PM

Kwame

September 26th, 2008, 05:48 AM

More than 30 tons of cashew nuts exported

25-09-2008 20:06

Guinea-Bissau

Bissau - Guinea-Bissau has already exported 98 tons of cashew nuts while the marketing year has not ended, indicated today (Thursday) to press Jaimantino Co, Director-General of Trade.

"It is envisaged that the country exported 110 tons of cashew nuts in 2008, ie four tons more than the forecasts made by the government earlier this year," said Co, adding that the export of walnut began to 25 last May.

"One kilogram of cashew sold in 2007 for 75 FCFA (0.16 U.S. dollar) rose to 300 F CFA (0.66 U.S. dollar) because the government has not fixed the reference rate," emphasized the Director-General of the Trade, adding that the average export of cashew nuts rose from 550 U.S. dollars a ton in 2007 to 750 U.S. dollars a ton in 2008.

Unlike past years, in which the marketing of this product was dominated by foreign businessmen, including Indians in 2008, "thanks to local banks, the situation was reversed, since about 50 percent of the funds used to purchase nut of cashew nuts come from internal financing, noted.

He added that the bulk of the production of cashew nut exports were to India.

According to sources close to the ministry of finance, export and production of cashew nut generates annually about 60 million dollars to the Public Treasury Guinea-Bissau.

More than 250 thousand families living on the cashew nut production and 98 percent of annual revenues come from production and export of this product, add the same sources.

The Guinea-Bissau is the world's leading exporter of cashew nut in the raw state. Plantations of anacardeiros extend to an area of 175 hectares.

AngolaPress (http://www.portalangop.co.ao/motix/pt_pt/noticias/africa/Mais-mil-toneladas-castanhas-caju-exportados,09f1a0ea-68dd-4320-9f2c-26bfd01e95dd.html)

Matthias Offodile

September 26th, 2008, 09:23 PM

Growing ties between Gabon and Lebanon

- Lebanese community is growing rapidly in Gabon (originally ranging between only 5000-6000, the majority of whom were born in Gabon...the number has risen drastically to more than 15 000 due to the political crisis in Côte d´ivoire)

- the older Lebanese community was heavily involved in the country´s economy (above all construction sector, bars, clubs and food distribution)

Gabon : Le feu vert de Bongo aux banquiers libanais

Une délégation d’experts financiers libanais a été reçue en audience le 23 septembre par le chef de l’Etat gabonais en présence du ministre des Finances, Paul Toungui, pour présenter un projet d’ouverture de la succursale gabonaise d’un établissement bancaire libanais. Le président gabonais a donné son aval à l’implantation de cette structure financière libanaise au Gabon, qui devrait notamment permettre d’appuyer la forte implication de la communauté libanaise dans l’économie gabonaise.

Reçue le 23 septembre dernier au Palais présidentiel de Libreville, la délégation de banquiers libanais a présenté au chef de l’Etat son projet d’ouvrir au Gabon une succursale d’un établissement bancaire libanais.

L’entretien s’est déroulé en présence du ministre des Finances, Paul Toungui, et a permis aux financiers libanais d’exposer au président la portée de ce projet pour l’économie locale où la communauté libanaise est déjà très active.

Au terme des échanges, le président a donné son accord à ce projet, qui devrait déboucher sur l’ouverture prochaine d’un nouvel établissement bancaire au Gabon.

La communauté libanaise au Gabon est estimée aujourd’hui à près de 15 000 personnes et est très active dans l’activité économique du pays. Elle génère d’importants capitaux notamment dans les secteurs du bâtiment, de l’alimentation, du divertissement et des importations de marchandises d’outre-mer.

Après la première génération libanaise des années 1970 en terre gabonaise, estimée entre 5000 et 6000, le conflit ivoirien qui a obligé nombre de libanais de Côte-d’Ivoire à immigrer au Gabon a porté à plus de 15 000 le nombre de ressortissants libanais dans notre pays.

Un accord général de coopération économique, commerciale, sociale, culturelle, scientifique et technique signé à Beyrouth le 20 février 2001 entre le gouvernement gabonais et celui de la république libanaise lie les deux Etats.

Publié le 25-09-2008

DanteXavier

September 30th, 2008, 07:59 PM

Botswana Independence Day marks another year of economic growth for the thriving African nation

Today on September 30th 2008 Botswana celebrates 42 years of independence from Britain; in the current uncertain economic climate we talk to Alan Marneweck to discover where this southern African nation now sits and what the future holds for the Batswana as well as foreign investors.

Alan Marneweck, Director and Founder of the Limpopo-Lipadi Game and Wilderness Reserve, has observed with great interest the history and development of Botswana. Although native to South Africa he has been awarded permanent residence of Botswana due to his continued work within the country.

It is over 130 years since the British Government put Bechuanaland (today's Botswana) under its protection on the 31st March 1885. In 1920 two advisory councils representing Africans and Europeans were established followed by the proclamations in 1934 regulating tribal rule and powers. In fact to date tribal leaders still hold legal authority and take part in governmental meetings and decisions. It was not until 1964 that Britain accepted proposals for democratic self-government in Botswana and in 1965 the constitution led to the first general elections and subsequently independence, authentic systems of democracy truly representing the will of the people, hence the political stability. Currently in office isHis Excellency, Lieutenant-General Seretse Khama Ian KHAMA, the son of the first president of Botswana, he is a president for the next term. He has even appeared on the popular British TV show Top Gear when the presenters undertook driving a car when they filmed in the Makgadikgadi Pan in northern Botswana.

As one of the most politically and economically stable countries in Africa, Botswana ranks 36th in the world according to the 2008 Index of Economic Freedom, a report that is compiled by the Heritage Foundation and Wall Street Journal. Botswana also enjoys the highest sovereign credit rating on the continent of Africa. "It is a middle income nation with a strong compound annual growth rate in the region of 4.7% year on year, since independance" says Alan Marneweck. "Botswana has been one of the fastest growing economical countries in the world over the last 22 years, and as the least corrupt country in Africa it is receiving increased interest from the foreign investor community."

The credit ratings agency Moody Investor Services has shown that Botswana's current debt and liquidity has put the country on par with countries like Japan. The report also shows that the government's prudent management of diamond export earnings has also added to its improved infrastructure and raised standards of living for its people.

From an investment point of view the nation has also improved its global ranking in the Doing Business 2009 report published by the World Bank and IFC. The recent report shows Botswana's ranking rising 14 places from 52nd in the world to make it the 38th country most easy to do business with.

Not satisfied with just relying purely on the massive wealth that the country enjoys from being the world's largest producer of diamonds (by value) - the income that accounts for more than one third of its GDP and circa 80% of export earnings - the government of Botswana has entered into a programme of fiscal diversification that is offering ongoing and significant opportunities for the development of multiple sectors of the economy - from tourism to real estate.

In fact the travel and tourism demand in Botswana is forecast to average 5% growth per annum over the next 10 years which will comfortably exceed expected worldwide growth of 4.4%. The demand is already being reflected in the nation's employment figures. In 2006 the Botswana Tourism Board reported that travel and tourism accounted for one in every 10 jobs and in 2008 they expect the figure to grow to 1 in every 9, with this figure set to rise to 1 in every 7.5 jobs by 2018.

The development of other sub-sectors of travel and tourism in Botswana will see an expansion in nature-based and sustainable tourism. The World Travel and Tourism Council (WTTC) highlights the ongoing land allocation for tourism and conservation and environmental efforts saying: "84% of Botswana is a land locked country covering vast bio diversity ranging from the Kalahari to Okavango Delta, 17% by national parks and game reserves and an additional 22% designated as wildlife management areas. Even if tourism is diversified through the promotion of new products, the majority of visitors will still be primarily attracted to Botswana by its unspoiled environment and abundant wildlife. It is therefore vital that these irreplaceable assets continue to be protected if travel and tourism is to be sustained."

Limpopo-Lipadi, in eastern Botswana is a good example of the diversification of tourism and investment. Celebrating its 5th year in October 2008, Limpopo-Lipadi is proud to be part of such a growing nation whose aims for sustainable development are of the utmost importance.

"The Limpopo-Lipadi project perfectly represents the type of intelligent, improving and enabling eco-responsible tourism investment project that the government of Botswana is encouraging" says Alan. "At its core the project offers those with a keen interest in the nation, its wildlife and in augmenting the lives of the local people a chance to make a real difference. Independence Day in Botswana means more than just separation from Britain; it's about celebrating the progress that Botswana has made over the last 42 years."

Alan goes onto say: "The future continues to look bright for Botswana as 10 years since the launch of Vision 2016, a strategy to propel its socio-economic and political development into a competitive, winning and prosperous nation, it has seen the nation make an imprint on world market reports that is set for longevity."

The Limpopo-Lipadi reserve covers some 32,450 ha with the view to enlarging to 50,000+ ha. It has 6 lodge sites planned for full completion by December 2009 and has 21km of Limpopo river frontage. Investors have the opportunity to be involved with the entire project, from the study of eco systems to training to become a game ranger and the time the team have dedicated to making sure this project is rooted in the ethics of the country is reflected in their long term business plan.

http://www.propertywire.com/news/company-news/botswana-independence-day-economic-growth-200809301745.html

DanteXavier

September 30th, 2008, 08:02 PM

Giant property entrepreneurs sign South African deal

Property entrepreneur Donald Trump is now looking to South Africa for his organisation's latest property developments. It will be his first venture on the African continent.

His Trump Organisation has signed an exclusive ten year deal with Cape Town's property developer Devland whose chairman Neill Bernstein is often referred to as South Africa's Donald Trump.

They are looking at developing residential and hotel projects worth millions of dollars in the next three years. It is expected to cover some 300,000 square metres but further details have not yet been released.

Bernstein said there would be no mad rush to push the projects forward and the companies had no intention of using the 2010 football World Cup as a springboard for the projects.

'It would be madness to jump into projects based on a two-week event. I have little interest in rushing into new-build contracts,' said Bernstein.

Trump's son, Donald Trump junior, executive vice-president of development and acquisition for the Trump Organisation, has been in South Africa assessing development options. Cape Town is top of the shopping list.

'Quality is important. We will take our time finding locations,' he said. But he conceded that the future projects are likely to be leisure orientated with golf facilities and a mix of residential and resorts.

It is Trump's first venture into South Africa. 'This is a continent on which we don't have any developments. Now is the time. South Africa is the central business hub for Africa. We want to buy real estate when it is not at its peak,' added Trump junior.

Bernstein said the deal would bring a much needed flow of intellectual capital into the country's property market.

http://www.propertywire.com/news/africa/property-entrepreneurs-south-african-deal-200809291734.html

Nsukka

September 30th, 2008, 11:18 PM

Matthias Offodile

September 30th, 2008, 11:31 PM

Now, is this good news, bad news and or cautious news?

None of these categories, it is just news concerning trade between Gabon and Lebanon, read the article attached!

Matthias Offodile

September 30th, 2008, 11:35 PM

African multinationals are shaking up the landscape

Posted to the web on: 26 September 2008

Dianna Games

A DECADE ago, the talking point of African business was the phenomenon of South African companies sweeping across the continent, setting up shop and challenging local firms’ dominance in markets.

More recently, there was a new phenomenon — the rapid rise of China and India and their challenge to western countries in the scramble for Africa’s business and resources.

The latest “wave” in African business has been the growth of African-owned multinational companies north of the Limpopo — shaking up the landscape again. These companies are taking their business across borders and developing regional and continental strategies in competition with SA, Asian and western multinationals.

The rapid growth of the private sector in key African economies is the cumulative result of an era of market-driven economies and business reform.

There are a number of key drivers, some of which mirror the drivers of SA’s expansion across the continent: a search for new markets as a result of pent-up capacity, increasing competition in local markets and natural ties with the region.

The growth of African economies is providing new opportunities, incomes are rising, new elites are becoming more demanding in their needs and economic reform is allowing companies to become more competitive.

Opportunity is luring back experienced African business people from western multinationals to grow local companies as part of a new corporate nationalism not seen in Africa before.

New investor interest in emerging markets is also a driver. Hubert Danso, vice-chairman of information and investment advisory firm Africa Investor, says the deal value of initial public offerings (IPOs) on the continent has grown from $949m in 2001 to $8,2bn in last year. The number of African companies raising growth capital on local stock exchanges has risen exponentially in the past few years, driven by high bank finance costs but also by rising demand for expansion.

Danso says many international funds and investment banks are being led by dynamic Africans who are targeting opportunities in key African markets. Their job has been made easier by a spate of success stories. The recent IPO of Safaricom, Kenya’s largest mobile service provider, valued at $3bn, was oversubscribed by 532% and raised a huge $839m. Last year, Nigerian banks alone raised more than $4bn in IPOs and rights offers. West African banking group Ecobank recently launched a $2,5bn rights offer and is confident it will raise the money.

Strategic national reforms have driven company growth, nowhere more evident than in Nigeria’s financial sector. Central bank reforms pushed banking consolidation, which resulted in the rapid growth of Nigerian banks.

The Financial Times’ Banker magazine says the total “tier 1 capital” of Nigerian banks in the publication’s top 1000 banks has more than doubled to $11,29bn in this year’s rankings from $5,38bn last year. It suggests that the rapid rise of Nigerian banks is threatening the dominance of SA institutions on the continent.

More than 60% of the market capitalisation of the Nigerian Stock Exchange (NSE) comprises banking stocks.

The foreign interest in buying local institutions was such that the central bank last year said it would no longer approve foreign majority stakes in the top 10 banks. In any case, analysts say, it has become too expensive for new entrants to come in via acquisitions.

From this strong base, many Nigerian banks have expanded across the region. Ghana was a natural market for this progression and there is a danger of this market being overtraded.

But expansion is now spreading further afield into Gambia, Côte d’Ivoire, Liberia and Sierra Leone, as well as Nigeria’s tiny neighbours, Benin and Togo.

A Nigerian financial analyst says an oversupply of money is the main driver of this expansion but concerns about an overheating of the local market make a regional strategy a good bet.

Mergers and acquisitions have become a favoured strategy for growth, allowing rapid penetration of new markets and lower entry risks and costs.

This has been a driver of the growing Kenyan banking sector. Standard Bank’s merger with the CFC Group in Kenya, for example, was the biggest such deal in that market to date.

West African bank, Ecobank Transnational International (ETI), has driven its 24-country expansion mostly through merger and acquisition activity. ETI has rapidly taken its footprint from west Africa into the rest of the continent, launching operations in six countries since January. It recently launched a $2,5bn rights offer across three west African stock exchanges to support its expansion programme.

Arnold Ekpe, ETI’s group CEO, says African-owned companies have an advantage in African markets, particularly the difficult and high-risk ones, because they come from risky markets themselves and are used to the difficulties of doing business in Africa. They are less daunted by the challenges that companies from outside Africa might be, he maintains.

It is not just the large economies that are benefiting from the regional growth. Tiny Rwanda is home to Ecobank, Nigeria’s Access Bank and Kenya’s Fina Bank, while Kenya’s two big supermarket groups are also vying for business there.

Uganda, which is also home to two of SA’s biggest retail groups, Shoprite and Mass Discounters, is being targeted by Kenya’s retailers as well as its banks.

Whether small markets with low populations and limited disposable incomes are ready for the regional hunger for new markets is still to be seen but it is nevertheless a picture that was difficult to imagine just a few years ago.

Kenya, by far the biggest economy in the region, is moving swiftly to secure its advantage in east Africa, says Simon Freemantle, an analyst with Africa Frontier Advisory, with its companies picking low hanging fruit in regional neighbours. He says companies in east Africa are now thinking regionally rather than nationally.

Danso reckons that a regional strategy is not only attractive to the company itself but also to fund managers who are looking to buy good stocks.

In southern Africa, the growth of African companies has been, some say, constrained by overwhelming competition from SA.

However, Zimbabwean companies are continuing to make their mark, mostly because of, rather than in spite of, the country’s economic woes. Competitive local companies are turning to cross-border expansion as a hedge against a depleted local market and the major logistical problems of trading in an economic vacuum and with a valueless currency.

SA itself is not a market African companies are prepared to tackle head on as it is seen to be difficult to compete in because of its sophistication and competition from local and foreign companies.

While some see this growing competition as being a threat to SA’s business ambitions on the continent, in fact it is an opportunity. A larger African private sector, with greater lobbying power, will help to lower risk in African markets, improve the business climate, increase the size of the potential business space and provide a larger pool of potential partners for investors.

# Games is CE of Africa @ Work, an African consulting and research company. She is a contributor to a new series on Africa’s new performers — Dynamic Africa — starting on Business Day’s Management & Leadership page on Monday.

myirakazi

October 1st, 2008, 11:18 AM

African multinationals are shaking up the landscape

we have abundant recources, in brains, capability and the natural habitat.

competition is good, it will allow growth within the entire continent and not just south africa alone.it will mature our business strategy and force people to think out-of the-box.
competition will eventually ensure we raise quality standards at every level.

the more money we can retain within africa the better it is for the continent.

:banana:

Kwame

October 3rd, 2008, 03:08 AM

Kenya: Economy Shows Signs of Recovery

30 September 2008

Wachira Kang'aru

Nairobi - Kenya's economy is on the fast lane to recovery with performance indicators for the second quarter showing an improved state of affairs compared to the first quarter.

Data released by the Kenya National Bureau of Statistics shows that the economy expanded by 3.2 per cent, reversing a contraction of one per cent recorded in the first quarter.

The negative one per cent growth rate is a revised figure of the negative 1.3 per cent figure released in June 2008, in what the data agency says was necessitated by the availability of new information.

Experts project that the economy will maintain the current pace to record an annualised growth rate of at least five per cent by December 2008 with even better prospects for 2009.

The International Monetary Fund estimates a growth rate of at least 7.2 per cent in 2009.

Still reeling

At 3.2 per cent, the growth rate is however almost a third of the rate recorded in the second quarter of 2007 (8.9 per cent) indicating the country is still reeling from the effects of the post-poll violence.

"The slower growth is a reflection of the spillover effects in certain sectors of the post-election violence," the bureau says in its quarterly report.

A positive note is the fact that the economic growth improvement, from negative one per cent (revised) in the first quarter to 3.2 per cent, has only been exceeded once since 2001.

Adjusted for the post-violence effects and its spillover, the country recorded 6.8 per cent growth in the second quarter.

"This indicates an impressive improvement of the economy in the second quarter of 2008 compared to a decline of 3 per cent in the first quarter of 2008," says the agency.

The bureau, however, warns against relying on the seasonally adjusted growth rate saying it "is somewhat volatile."

Driving the recovery are manufacturing, electricity and water, wholesale and retail trade, and the fishing sectors.

Hotels and restaurants, and transport and communication sectors are yet to record substantial recovery.

AllAfrica (http://allafrica.com/stories/200810010102.html)

You are to blame

October 7th, 2008, 05:23 AM

East Africa: How the Region Can Gain From U.S. Crisis

The East African (Nairobi)

5 October 2008
Posted to the web 6 October 2008

David Malingha Doya

East Africa could make windfall gains from the current global financial crisis as investors in developed markets look to shift some of their portfolios to safer regions.

Speakers at Uganda's third National competitiveness Forum however, warned that the region's recently acquired attractiveness to investors will only pay off meaningfully if the longstanding problem of inadequate and poor infrastructure is resolved.

For the first time, Africa's economic growth is sustaining an upward trend amid a global economic downturn induced by the financial crisis, high fuel and commodity prices and the immediate impact of measures against climate change.

"In the 1980s, when the world's economic growth was dropping, Africa's dropped even more sharply. When the world's economy took another nosedive in the early 1990s, Africa's dropped to negative growth. However, in the 2000s, when the world economy is going down, growth in Africa is continuing to grow," said Razia Khan, head of research for Standard Chartered Bank, Africa region.

The enduring economic growth in the region is being attributed to improved fiscal policy and a fall in average inflation from an annual 60 per cent in 1994 to less than 10 per cent in 2007.

A boom in commodities from an index of 150 in 1999 to above 350 this year coupled with debt relief that has reduced the ratio of external debt to GDP from an average of 70 per cent in 1994 to about 20 per cent in 2007 both improved economic growth and fuelled interest in the region.

Economists also said that while investors had already realised that return on investments in Africa are among the highest in the world, but the continent is even more attractive now that the financial crisis has become a disincentive to investing in the West.

Data from the International Monetary Fund shows that GDP growth in sub-Saharan Africa is two points above that of the world and one point above the Middle East as of January 2008.

In the 1990s, economic growth in sub-Saharan Africa was moving in reverse at a rate of -2 per cent, while the global economy was progressing at 2 per cent, and the Middle East at above 8 per cent.

At the competitiveness forum, a Finance Ministry event held annually to discuss the country's competitiveness, Ms Khan said that the current global financial crisis has some benefits to Africa, that could help the continent grow at an even faster rate.

She said that investors who have had their fingers burnt in the financial meltdown on Western bourses are either looking for safe havens in less risky instruments there or diverting some of their investments to new and emerging markets like East Africa.

This is on top of capital flows already heading for the continent following the realisation that the return on investment in Africa is highest in the world, and that political risk in former conflict countries such as Rwanda and Angola has reduced significantly.

"The correction to Africa's longstanding undervaluation has only just begun," said Ms Khan.

Sovereign wealth funds controlled by some of the world's rich governments invest most of their money in banks and investment houses in Europe, America and Japan, where they suffered part of the losses. "Sovereign wealth funds are now turning to new frontier markets, particularly Africa," said Ms Khan.

Although extending investment funds to this region means distributing risk in the same direction, economists are optimistic that underdevelopment and wider regulation in African markets could be a safeguard against such dramatic meltdowns on its bourses.

However, governments will have to shape up their infrastructure to position themselves to gain from the financial crisis eroding investments on bourses in the West.

Africa's infrastructural requirements are in the billions of dollars and years in time before it can be enhanced to a level of even competitiveness on the world stage.

In East Africa, some of the outstanding infrastructural problems include an energy deficit, an ancient railway network, inadequate and poorly maintained roads, inadequate harbouring port capacity and under-developed air transport. All these make the region less competitive as they increase the cost of production, economists said.

Although development partners have given grants and loans to help improve infrastructure in the region, the situation is still dire and governments are looking at new ways of funding infrastructural development.

The East African Community council of ministers proposed that governments put money in a pool to fund regional infrastructure projects such as cross-border highways, railway network and civil aviation. The government of Kenya is thinking of issuing an infrastructure bond on the country's local bourse.

Fred Omach Finance Minister State for general duties said, "We understand that infrastructure is the biggest challenge to development, and government allocated Ush1trillion ($615 million) for expansion and maintenance of the road network in this financial year. For energy Bujagali dam is already under construction, and we hope to begin Karuma soon."

Government of Uganda has also started a process of developing a policy for Public Private sector Partnership (PPP), long term agreements between government and private companies to provide pubic services, as an alternative funding avenue for infrastructure projects.

http://allafrica.com/stories/200810060807.html

You are to blame

October 9th, 2008, 05:28 AM

The new IMF forecast for those interested.

IMF October 2008 update.
http://www.imf.org/external/pubs/ft/weo/2008/02/pdf/text.pdf

Also there mapper is a very useful tool to compare countries.
http://www.imf.org/external/datamapper/index.php

Africa

2005 - 5.8
2006 - 6.1
2007 - 6.3
2008 - 5.9
2009 - 6.0
2010 - 6.2

Sub-Saharan Africa

2005 - 6.2
2006 - 6.6
2007 - 6.9
2008 - 6.1
2009 - 6.3
2010 - 6.5

Matthias Offodile

October 9th, 2008, 12:44 PM

New law: the Gabonese government will pay not only pay for all school fees (which is laready in place) but for all school books, uniforms, school trips and additional expenses for all Gabonese pupils in public schools on its national territory

Gabon: Gratuité des frais scolaires

Libreville, 6 octobre Reuters - En application de la mesure gouvernementale de gratuité des frais scolaires, le ministre de l’éducation nationale, de l’instruction civique, Michel Menga M’essone a annoncé dimanche que la distribution des manuels didactiques aura lieu samedi prochain, au Lycée Léon Mba, en présence des inspecteurs délégués d’académie nationaux et des responsables d’établissements publiques de la capitale.

« Le président de la République , Omar Bongo Ondimba a lui-même demandé de faire appliquer la gratuité scolaire sur l’étendue du territoire, notamment la suppression des frais d’écolage, des frais de coopérative, et la gratuité des ouvrages scolaires et les excursions scolaires seront gratuits à partir de cette année dans tous les établissements publiques», a déclaré le ministre Michel Menga.

« Les parents seront soulagés des dépenses à la scolarité de leurs enfants » a-t-il conclu.

L’organisation et la distribution des manuels didactiques dans l’ensemble du pays se feront sous la responsabilité des inspecteurs délégués d’académie de chaque province respective.

Gabon: Santé militaire: Signature d'une convention pour la construction d'une grande école entre le Gabon et la France à Libreville

Libreville, 8 octobre Reuters – Une convention à la construction d’une grande école d’application de santé militaire ultramoderne à Libreville a été paraphée au ministère de la défense gabonais, ce mercredi entre le ministre, Ali Bongo Ondimba et l’ambassadeur de France au Gabon, Jean Marc Simon.

L’aboutissement de ce projet va offrir aux experts de la santé militaire du continent africain de bénéficier d'une grande structure de formation de pointe.

« Ce projet vient encore renforcer les relations déjà très dynamiques et très profondes entre la France et le Gabon dans le domaine de la défense », a déclaré, Ali Bongo Ondimba.

La signature de ce contrat intervient dont le coût n’a pas été communiqué, intervient quelques jours seulement après les manœuvres medico – militaires Fraco – Gabonais organisées dans la province du Woleu - Ntem (nord).

Gabon is solid enough to weather global downturn: due to large amounts of cash saved. Its banks, insurance companies are the most liquid and competitive in the central African sub-region

Gabon : Toungui guette la crise financière

Le ministre de l’Economie et de Finances, Paul Toungui, a convoqué une réunion le 3 octobre dernier à Libreville avec les responsables des établissements financiers, des hauts cadres de la Banque des Etats d’Afrique centrale (BEAC) et d’importants exportateurs pour analyser l’exposition du Gabon à la crise financière mondiale. Au terme de ces assises, le ministre des Finances a mis en place une cellule d’information permanente pour prévenir les fluctuations de l’économie internationale et ses répercussions sur l’économie nationale.

Face à l’ampleur de la crise financière mondiale et son extension aux pays européens et asiatiques, le ministre gabonais de l’Economie et des Finances, Paul Toungui, a décidé de mettre en place une cellule de veille pour prévenir les répercussions de cette crise sur l’économie nationale.

Cette décision a été prise par le ministre d’Etat au terme d’une réunion convoquée le 3 octobre dernier à Libreville avec les principaux responsables des banques et assurances du pays, certains hauts cadres de la Banque des Etats d’Afrique centrale (BEAC) ainsi que plusieurs importants exportateurs.

Cette séance de travail a permis au ministre Toungui d’établir un bilan plus précis de la conjoncture économique et financière mondiale et des risques de répercussions encourus par le Gabon. Le patron de l’Economie et des Finances a recueilli les informations détenus par les principaux acteurs financiers gabonais, notamment les données relatives aux agrégats économiques.

Le président directeur général de la BGFIBANK, Henri Claude Oyima, a expliqué que «devant la situation économique mondiale qui prévaut actuellement, le ministre d’Etat a voulu avoir notre sentiment par rapport aux informations que nous détenons», avant de préciser qu’ «il en ressort au niveau national, une sérénité de notre économie et la force de notre secteur financier».

Si l’Afrique, et le Gabon en particulier, ne sont pas encore directement exposés à la crise financière qui touche les marchés occidentaux, le gouvernement a toutefois décidé de redoubler de vigilance en surveillant l’évolution de cette crise grâce à la mis en place d’une collaboration rapprochée avec les principaux acteurs économiques et financiers du pays et de la sous région.

«Pour l’instant les choses vont très bien. Les banques gabonaises et les compagnies d’assurances sont les plus solides de la sous région. Au niveau économique et financier, le baril de pétrole s’est bien comporté dans l’année. Tous les agrégats économiques sont bons. Tout est bon aujourd’hui pour rassurer les opérateurs économiques», a confirmé Henri Claude Oyima.

Pourtant, un groupe d’experts financiers avait indiqué le 30 septembre dernier que la crise financière qui frappe les pays occidentaux pourrait affecter la croissance économique africaine si les pays du continent ne trouvaient pas rapidement des marchés alternatifs.

Publié le 07-10-2008 Source : afrik.com

Matthias Offodile

October 9th, 2008, 12:49 PM

Cameroon in Talks to Start Bakassi Oil Prospecting

October 08, 2008

by Emmanuel Tumanjong

YAOUNDE, Cameroon (Dow Jones Newswires), October 8, 2008

Cameroon's state-run National Hydrocarbons Corporation, or SNH, said Wednesday it is in talks with several drillings firms to start prospecting for oil in the hydrocarbon-rich Bakassi peninsula.

"We have to start prospecting for oil in the Bakassi zone and the Bolongo zone. These are supposed to be fertile zones," SNH Director of Exploration Simon Tamfu told Dow Jones Newswires.

"Bidders are already coming in to examine the data we have, and after that, we expect to sign contracts with them," he said, without naming any companies involved.

Bakassi, an area of some 1,000 square kilometers believed to contain oil and gas reserves, has been the subject of a dispute for 15 years between Cameroon and Nigeria.

Cameroon gained full ownership of Bakassi in mid-August, but unrest continues, with rebels attacking Cameroonian troops and their installations.

Officially, Cameroon produces around 85,000 barrels of oil a day and is looking to expand its oil production.

Whiteeclipse

October 10th, 2008, 06:41 AM

MBA-Congo

October 10th, 2008, 01:35 PM

The Times of Zambia (Ndola)

10 October 2008
Posted to the web 10 October 2008

THE Patriotic Front (PF), if elected into power, has pledged to put up an oil pipeline from Angola to Zambia's North-Western Province and a refinery to supplement Indeni Oil Refinery in addressing fuel shortages.

Spokesperson, Given Lubinda said in an interview in Lusaka yesterday that a PF government would address the problem of petroleum importation through the party's foreign policy.

Mr Lubinda, who is PF presidential candidate Michael Sata's campaign manager, said there would be need to strengthen bilateral relations with Angola.

He said because of the growing importance of North-Western Province in national development, a PF government would set up a second oil refinery to cater for crude oil from Angola.

Mr Lubinda, who is Kabwata Member of Parliament, said Zambia has not taken full advantage of her position as a neighbour of an oil-producing country.

"The importation of oil from Angola would lead to the stability of pump prices and ensure continued supply of the commodity as the two oil supply sources will supplement each other," he said.

He said a government led by Mr Sata would also review the existence of the Energy Regulation Board (ERB) and consider its relevance to the current economic situation in the country.

Mr Lubinda said an examination of the ERB would be with a view to either phasing it out or restructuring its operations to ensure efficient service delivery.

He said the PF believes that the Ministry of Energy could handle the work being done by the ERB.

Currently, Zambia imports crude oil through Dar es Salaam in Tanzania and it is pumped through the Tazama pipeline to Ndola where it is refined at Indeni Oil Refinery before it is distributed throughout the country.

Matthias Offodile

October 10th, 2008, 09:40 PM

Gabon: 800 km of new interregional road added...some rodas but only within city of Libreville will be highways

Gabon : Nziengui Nzoundou fait le point sur les chantiers routiers

800 kilomètres de routes en travaux pour un montant total de 426 milliards de francs CFA, ce sont les chiffres qui ressortent du bilan dressé par le ministre des Travaux publics, Flavien Nziengui Nzoundou, devant ses pairs du gouvernement à l’occasion du Conseil des ministres du 7 octobre. Avec 200 kilomètres de routes en phase d’exécution, avec les premières livraisons prévues pour novembre prochain, et 600 kilomètres en phase d’exécution, le gouvernement a salué l’avancement des chantiers routiers sur l’étendue du territoire national et exhorté le ministre de tutelle à un suivi scrupuleux pour assurer le respect des délais de livraison.

A l’occasion du Conseil des ministres du 7 octobre, le ministre des Travaux publics, des Infrastructures et de la Construction, Flavien Nziengui Nzoundou, a présenté à ses pairs du gouvernement le rapport sur l’état d’avancement des projets routiers financés par différents bailleurs de fonds internationaux.

Le gouvernement gabonais consacre un montant total de 426 milliards de francs CFA pour le vaste programme d’aménagement des infrastructures routières sur l’étendue du territoire national.

Sur les 800 kilomètres de route qui doivent être aménagées dans le pays, 200 kilomètres sont en phase d’exécution, représentant 91 milliards de francs CFA, et 600 kilomètres sont en phase de démarrage, représentant un coût total de 335 milliards de francs CFA.

Au titre des travaux en cours, le projet d’aménagement de la route reliant le pont Octra au port d’Owendo sur 18 kilomètres est payé par la France à hauteur de 11 milliards de francs CFA devrait aboutir en avril 2009. Il concerne l’aménagement d’une route 2 x 2 voies en béton bitumineux.

Le projet d’aménagement de la route entre le PK 55, à hauteur de Mamiengué et Fougamou, pour une distance de 40 kilomètres, devrait s’achever en décembre 2010. Il est payé par la France aussi à hauteur de 24 milliards de francs CFA.

Le premier projet de ce programme à être livré devrait être le chantier de la route entre Franceville, Léconi et Kabala sur 124 kilomètres pour un montant de 35 milliards de francs CFA contractés auprès de la Banque islamique de développement (BID) et qui devrait s’achever en novembre prochain.

La première tranche des travaux de la route reliant Cocobeach à Ntoum sur 27 kilomètres doit prendre fin en avril 2009. Le projet coûtera 21 milliards de francs CFA.

Concernant les chantiers en phase de démarrage, le gouvernement gabonais a bénéficié de deux autres prêts auprès de l’Agence Française de Développement pour un montant cumulé de 48 milliards de francs CFA et qui concerne l’aménagement de 47 kilomètres de route entre Ndjolé et Médoumane avec l’aménagement de l’accès à la gare d’Octra.

Ce financement prend en compte les études et le contrôle des travaux, l’exécution des travaux et le volet archéologique. L’appel d’offres international a été lancé les 3 et 4 août derniers et la remise se fera le 3 novembre prochain pour un démarrage des travaux escompté en mars 2009.

Le gouvernement gabonais a également contracté un important prêt de 165 milliards de franc CFA à la Banque africaine de développement (BAD) pour la réalisation de 242 kilomètres de route entre Fougamou et Mouila ; Ndendé et Lébamba ; Léypu et Lastourville, ainsi que les études sur 275 kilomètres de routes sur les itinéraires Mouila-Ndendé-Doussala ; Nendé-Tchibanga ; PK 5-PK 18 en direction de Kango et la voie express de Libreville.

L’appel d’offres a été lancé les 27 et 28 avril derniers et la remise des offres a eu lieu le 25 août dernier pour un lancement des travaux prévu en mars 2009.

Quatre prêts ont enfin été contractés auprès de la BID pour la réalisation d’un aménagement routier de 287 kilomètres sur les tronçons reliant Lalara et Makokou ainsi qu’entre Akiéni et Okondja, pour un montant total de 122 milliards de francs CFA.

L’appel d’offres avait été lancé le 11 août dernier et la remise des offres est programmée le 27 octobre prochain pour pouvoir lancer les travaux en mars 2009.

Le gouvernement a salué l’avancement des travaux en cours et le lancement des nombreux autres pour l’aménagement du réseau routier national, développer l’activité socio économique et lutter contre la pauvreté et l’exode rural.

A cet égard, le gouvernement a exhorté le ministre Nziengui Nzoundou à opérer un suivi minutieux des chantiers pour garantir la livraison des travaux dans les délais convenus.

Publié le 09-10-2008

MBA-Congo

October 11th, 2008, 03:31 PM

Mozambique approves US$400 million ethanol plant

APA-Maputo (Mozambique) Mozambique has approved a US$400 million plant by a Mauritius-based company to produce 1.2 billion litres of ethanol year, the country’s National Director of New and Renewable Energy, Antonio Saide, told has told APA here.

Speaking on Thursday in an interview, Saide said that the consortium known as Mozambique Principe Energy will invest US$400 million in ethanol production in the Sussundenga district in the central Mozambican province of Manica.

“The project has been approved by the cabinet and production will begin in 2011, with exports to European and other markets in the Southern African Development Community (SADC),” he said.

Saide said the project would be implemented across an 18,000-hectare area and was expected to employ 2,600 people.

Matthias Offodile

October 11th, 2008, 06:03 PM

:)

New Exploration Success in Gabon, Tanzania for Maurel & Prom

Maurel & Prom Friday, October 10, 2008

Maurel & Prom has issued an operational update for its assets in Gabon, Tanzania and Colombia.

Gabon

The OMBG-1 exploration well, previously Alonha-B, located close to the production center and 3.8 km to the west of the OMKO-10 (5,510 b/d) well, has reached a depth of 1,306 m.

The OMBG-1 well has struck two huge oil-bearing reservoirs in the geological "Gres de Base" (sandstone) formation:

The oil produced has the same API degree (34 degrees API) as the oil produced on the Onal field. The two discoveries (OMKO and OMBG) will be appraised by a drilling programme by late 2008 - early 2009.

The exploration program continues with the launch of drilling operations in the OMAL-1 well (ex Alonha-A). 8 exploratory wells are planned to be drilled on the Omoueyi permit before the end of the 1st half of 2009.

Tanzania

The M'Bezi-1 exploration well revealed gas-bearing formations in the upper cretaceous formation, thereby confirming the attraction of the exploration work.

This gas could not be produced in commercial quantities due to the lack of the appropriate resources and has therefore been placed on hold. The drilling of the Minangu-1 exploration well, which remains a primary goal in the drilling campaign, is expected to start from the beginning of October.

Colombia

The Guarrojo SW-1 exploration well, located 7 km to the south-west of the Ocelote field (current total production of 5,750 b/d) revealed an oil range that was too thin to be produced commercially. The next well, Guarrojo NE-1 will be drilled in a more favourable structural position to allow commercial production.

MBA-Congo

October 12th, 2008, 09:39 PM

LUSAKA (AFP) - Zambia and neighbouring Democratic Republic of Congo opened Sunday a new 320-metre-long (1,050-foot-long) bridge named after late Zambian president Levy Mwanawasa.

The multi-million dollar enterprise provides a shorter route from northern Zambia into southern Congo across the Luapula River, Zambian radio said.

Zambia's acting President Rupiah Banda inaugurated the bridge, which was named after his predecessor Mwanawasa, who died following a stroke in August.

Built by a Chinese firm, the project cost 46 billion kwacha (11.7 million dollars, 8.76 million euros), and was paid for by both the Lusaka and Kinshasa governments, the report from the Zambia National Broadcasting Corporation said.

Construction of the bridge began in 2001.

BUTEMBO21

October 12th, 2008, 11:31 PM

You are to blame

October 13th, 2008, 06:16 AM

^^ it means more money for african farmers so i am all for it.

Why keep farmers poor?

BUTEMBO21

October 13th, 2008, 10:13 AM

^^ it means more money for african farmers so i am all for it.

Why keep farmers poor?

why import food when you have more than enough land to keep yourself self sufficient?

Food is a national security matter for any country.

You are to blame

October 14th, 2008, 05:34 AM

why import food when you have more than enough land to keep yourself self sufficient?

Food is a national security matter for any country.

The more profitable farming becomes the more people will farm and more will be produce.

MBA-Congo

October 16th, 2008, 03:18 PM

Congo copper giant to invest in Namibia

JOHN GROBLER
THE George Forrest International Group - the largest copper and cobalt mining conglomerate in the Democratic Republic of the Congo - on Tuesday committed to strategic investments amounting to an estimated N$3 billion in Namibia's manufacturing, mining and energy sectors.

In an exclusive interview late on Tuesday in Windhoek, the veteran DRC entrepreneur George Forrest announced that his company is to buy out a major local uranium interest, erect a cement plant in the Karas Region and invest in the Namibian energy sector.

Mines and Energy Minister Erkki Nghimtina, who was present at the meeting, welcomed the investment.

He said during a time of depressed international economic conditions, such an investment was especially welcome.

"The international commodities trade is going through a very tough time at the moment, and we really welcome Mr Forrest's decision to invest in Namibia under these very difficult circumstances," Nghimtina said.

Forrest declined to comment on the specific amount he intends investing in Namibia, but the cement plant alone would cost in the region of US$150 to US$170 million, and would produce one million tons of cement a year, he said.

Forrest, accompanied by his executive vice president Pierre Chevalier, declined to name the uranium explorer (a publicly listed entity) involved because of regulatory restrictions requiring that a cautionary notice first be filed with the various international stock exchanges to this effect.

"Today, we signed an agreement with one of the big (exploration) companies in Namibia … we will make a more precise communication in a few days," once statutory procedures have been completed, Forrest said.

The cement plant, which he expected to come to fruition once feasibility studies have been completed, would export its excess production to neighbouring countries like South Africa and Angola.

Both countries were experiencing an acute shortage of cement in the wake of a major building boom in both countries - South Africa's preparation for the World Cup 2010, and Angola's US$20 billion national reconstruction programme, Chevalier pointed out.

The cement plant would provide a major economic boost to Namibia's under-developed South, and was expected to attract many ancillary investments in the immediate area.

"We are sure that this will create many jobs in the area," Forrest said.

As for concerns that the cement plant may be affected by the regional electricity shortage, Forrest said his company intended to become involved in the construction of the long-planned hydroelectric scheme on the Kunene River.

Forrest's company also signed an agreement to become involved in the Zimbabwean coal-fired power station at Hwange, which a year ago entered into agreement with local power utility NamPower to invest some $40 million in its rehabilitation, Forrest further said.

Asked why he chose Namibia to invest in, Forrest said he was "very impressed" by Namibia's infrastructure and regulatory environment, and believed that the country had a bright economic future.

Because of his company's experience in similar sectors in the DRC, Namibia represented a "great opportunity", he said.

"Namibia in my view, is a country with a very positive future for economic growth, and represent a very good return on investment," he said.

Investments of similar nature in the DRC, he said by way of explanation, offered great opportunities but also came with great risk because of continued political instability and a general lack of security.

The 68-year-old Forrest, whose company late last year bought out Nikanor Plc, which owned the rights to Kolwezi's fabled copper and cobalt deposits at the so-called KOV Mine, is considered one of the most powerful businessmen in the DRC.

George Forrest International is currently the operator of all of the former Gecamines copper and cobalt mines, which are estimated to hold 40 and 60 per cent of all known copper and cobalt deposits in the world.

MBA-Congo

October 16th, 2008, 03:25 PM

Belgium to assist Congo in establishing viable companies

Brazzaville, Congo - Belgium wants to assist the Congolese government in setting up sustainable companies capable of generating added values, the head of a visiting delegation of Belgian experts on Small and Medium Enterprises (SMEs), Frédéric Lernoux, disclosed here Wednesday.

"We are here to try and provide Congo with all our experiences through the setting up of sustainable companies that can generate added values," Lernoux told reporters.

"we will also provide lasting solutions in terms of funding, support and establishment of entrepreneurship's that will participate in the country's social and economic development," he added.

During their visit to Congo, the Belgian experts are expected to conduct a feasi bility study for a Fund to promote the economy.

The study is to focus on structures and needs, governance and control, business models and plans.

The Belgians are in Congo following an appeal from the Congolese Minister for Craft Industry, Adélaïde Moundelé Ngollo, for technical assistance in the areas of small and medium enterprises during her visit to Belgium in April.

MBA-Congo

October 16th, 2008, 03:29 PM

Zimbabwe: Economic Package Being Crafted for New Government

Email This Page

Print This Page

Comment on this article

Inter Press Service (Johannesburg)

16 October 2008
Posted to the web 16 October 2008

Stanley Kwenda
Harare

The Southern African Development Community (SADC) is mobilising economic aid for its troubled member state Zimbabwe.

The economic aid package is part of efforts by the region to help bolster the faltering political deal, widely regarded as the initial phase towards the recovery of Zimbabwe's wretched economy.

Southern African leaders, who came to Harare last month to witness the signing of the power sharing agreement, have tasked the SADC Secretariat with the crafting of an economic package for Zimbabwe.

SADC Executive Secretary General, Tomáz Augusto Salomão, who was also in Harare for the signing ceremony and has been involved in efforts to resuscitate the country's economy, told IPS that his office has been working on an economic blue print for Zimbabwe since 2005.

"We are working on a package to help finance the recovery of the Zimbabwean economy. The signing of the political settlement augurs well for this programme. We hope the political conditions in the country will improve and help the quick implementation of this programme," Salomão expounded.

His office has conducted studies of the Zimbabwean economy and will now be adding new elements of the political agreement into the final blueprint. "There is no doubt that the signing of the deal will provide that much-needed momentum for us to kick-start the economy of Zimbabwe.

"We have put in place a fund to help finance the recovery of the Zimbabwean economy. We have looked at its policies, the central bank, agricultural sector, monetary policy and exchange rate determinants," said Salomão.

Asked about the amount of money and the conditions that might come with the package, he said, "that's an issue for the SADC leaders to determine".

He did not give any timeline for the implementation of the financial package, only saying that it will depend on the political deal.

Article three of the Zimbabwe power sharing agreement addresses economic issues. It talks about issues to do with the restoration of economic stability and growth. Since 2000, when the Zimbabwean government embarked on farm invasions, the country's economy started plummeting, the currency lost value and the country became one of the worst countries to do business in.

The negotiating parties agreed to give priority to the restoration of economic stability and growth in Zimbabwe; to work on an agricultural recovery plan; to establish a national economic council which will be made up of representatives of all sectors of the country; and to endorse the SADC resolution on the country's economy which flows from the SADC Secretariat's studies.

Several SADC leaders have spoken of the urgent need to put together resources for Zimbabwe. South Africa has been leading the efforts, with its former president Thabo Mbeki having already put into motion an agricultural plan for the 2008 to 2009 farming season.

That country's treasury, agriculture and foreign affairs departments have been working on acquiring farming inputs and implements for Zimbabwe before the start of the agricultural season.

Although Zimbabwean farmers have already started receiving seed maize and fertilizer as a result of this intervention it is not yet clear if the new South African administration under president Kgalema Motlanthe, which has been critical of President Robert Mugabe, will take over from where Mbeki's administration left.

Meanwhile other international funding institutions such as the Bretton Woods institutions have expressed interest in engaging the new government of Zimbabwe as long as it shows commitment to economic reforms.

The European Union, a key funder of many humanitarian projects in Zimbabwe, has announced that it will provide 10 million euros in humanitarian aid to the country.

Brussels said the funds, following the signing of the power-sharing deal between Mugabe and opposition leader Morgan Tsvangirai, will be used mainly to assist in the provision of clean water, health and sanitation requirements for the most vulnerable population groups.

European commissioner for development and humanitarian aid Louis Michel said: "The EU's humanitarian assistance is neutral and impartial and not an instrument of politics. I expect all restrictions on humanitarian operations to be totally lifted as a result of the recent political settlement."

The aid is on top of 15 million Euros in food aid already made available to the country this year.

The EU has welcomed Zimbabwe's power-sharing deal but has said it wants to see how Mugabe and Tsvangirai implement the deal on the ground before it can commit itself to providing more significant aid for the rebuilding of the southern African country's collapsed economy.

Brussels said targeted visa and financial sanctions imposed on Mugabe and his government officials six years ago will remain in place for now until they show genuine commitment to building a stable and democratic country.

Although some of the financial aid seems to be coming with strings attached, it seems to be trickling down. The Zimbabwean government has already announced that it has secured 80 million dollars for maize and fuel imports from African Export Import Bank (Afreximbank).

Afreximbank is a multilateral financial institution whose main objective is to facilitate, promote and expand intra and extra African trade.

Some analysts however believe that it will take more than just donations for the economy to start ticking again.

"Optimists believe that when the politics normalise, Zimbabwe will revert seamlessly to the mostly unsuccessful growth path of the 1990s. That is wrong," Harare-based economist Tony Hawkins, a professor at the Graduate School of Management at the University of Zimbabwe, said at a meeting in Pretoria, South Africa last month.

He also stressed that international donors would not support a new government in which Mugabe or the ruling ZANU PF still had a big say in policy. Mugabe's government is accused of having destroyed Zimbabwe economically in its bid to hold onto power.

According to Reserve Bank of Zimbabwe figures, the country's external debt was estimated to be at 4.8 billion dollars in 2007, while domestic debt has also been rising.

Kwame

October 16th, 2008, 09:42 PM

Great economic news from Congo, I just pray it keeps progressing, especially with the recent news. :no:

Kwame

October 16th, 2008, 09:45 PM

Rwanda, A New Frontier Of Business Opportunities In Africa
Intra-Africa Business Executive Breakfast (Johannesburg)

16 October 2008

Johannesburg - The World Bank, in its Doing Business in 2009 report ranks Rwanda as one of the top 20 reformers on a global basis. Besides Rwanda, other African countries that are reforming their business environment faster include Botswana, Liberia, Senegal and Burkina Faso.

Rwanda reformed its business environment to such an extent that it climbed an impressive 9 places in the 2009 Doing Business index.

The Ambassador of Rwanda in South Africa, His Excellency Mr. Eugene Munyakayanza, is a guest speaker at the upcoming Intra-Africa Business Executive Breakfast on Thursday, 23 October 2008 at the Hilton Hotel, 138 Rivonia Road in Sandton. He will enlighten delegates on why Rwanda is increasingly becoming the new frontier of business opportunities in Africa. Moreover, he will highlight the key business sectors that have been identified by the Rwandan government to further spur this country’s economic growth.

AllAfrica (http://allafrica.com/stories/200810160672.html)

MBA-Congo

October 16th, 2008, 11:14 PM

Great economic news from Congo, I just pray it keeps progressing, especially with the recent news. :no:

As long as Western interest are not welcomed in the Congo they will have their proxy neighbors to try to destablize any political, economic, and social progress the Congo makes. But the irony of it is that Congolese well being isn't just ours but Africa's well being.

American trained Rwandan special forces aiding rebel leader Nkunda to destablize Eastern Congo. Items left by rwandan troops

http://i387.photobucket.com/albums/oo311/zazajean/rumangabo32.jpg

http://i387.photobucket.com/albums/oo311/zazajean/rumangabo27.jpg

http://i387.photobucket.com/albums/oo311/zazajean/rumangabo23.jpg

http://i387.photobucket.com/albums/oo311/zazajean/rumangabo22.jpg

http://i387.photobucket.com/albums/oo311/zazajean/rumangabo10.jpg

http://i387.photobucket.com/albums/oo311/zazajean/rumangabo8.jpg

http://i387.photobucket.com/albums/oo311/zazajean/rumangabo2.jpg

http://i387.photobucket.com/albums/oo311/zazajean/rumangabo31.jpg

Kenguy

October 17th, 2008, 07:05 PM

MBA. Just start a Rwanda/Uganda and East Africa in general hate thread where you can post all your political views instead of posting such political articles all over the place. Your last post is not economy news.

Matthias Offodile

October 17th, 2008, 08:14 PM

MbaCongo, This is an African Genral economy thread and this information is nothing that is benefiecial to Africa, but it into the Skybar if you like discussing things over but keep this thread clean with information like that. Thanks.

MBA-Congo

October 18th, 2008, 12:36 AM

it was a response to a question.

DanteXavier

October 20th, 2008, 04:18 AM

Angola property market seen immune to global crisis

LUANDA (Reuters) - Angola's sizzling property market has sailed through the global financial crisis and is expected to continue to thrive in coming years, executives and analysts say.

Property values, particularly in the capital Luanda, skyrocketed amid an oil-fuelled economic boom that followed the end of a 27-year civil war in 2002, making the city one of the most expensive in the world to live.

Basic one-bedroom flats rent at $7,000 a month, and it is not uncommon for expatriates to pay $20,000 a month for something more luxurious. Demand for office space has also been frothy, tripling in the last three years, according to Colliers International, an Australian real estate firm.

A shortage of modern buildings coupled with growing demand for housing from foreign workers promises to keep real estate one of the hottest and most profitable sectors of the African nation's economy after oil.

"Everyone wants to be here. I predict growth in real estate prices during the next three years," Jose Camargo, head of the Angolan real estate unit of Brazilian construction company Odebrecht, told Reuters in an interview.

Angola, which rivals Nigeria as sub-Saharan Africa's biggest oil producer, has embarked on a massive reconstruction programme since emerging from the war, buoyed by rising oil production, a jump in world oil prices and billions in foreign investment.

Angola's government said last week steep falls in world oil prices would not derail its plans to spend billions to fight poverty and spur economic growth. Benchmark U.S. crude was on Friday trading at around $72 -- roughly half a July peak.

Angola's focus has mostly been on rebuilding ports, railways and other key infrastructure for the oil-centred economy, but the government has also earmarked funds for the construction of office and apartment buildings as well as hotels.

Dozens of construction cranes dot Luanda's skyline.

The Bay of Luanda is currently being revamped with a $2 billion facelift that will spawn new hotels and apartment buildings and other businesses along its historic but neglected shoreline.

The construction craze is likely to dent but not solve the shortage of apartments and office space, and prices are expected to remain at the lofty end of the spectrum.

"There is a huge gap between supply and demand and that is the main factor pushing prices," said Nelson Rego, the head of Angolan real estate consultancy firm Proprime.

MOVING AGAINST THE CYCLE

Unlike real estate markets in the United States, Britain and elsewhere, which have slumped due to the credit crunch, Angola's market has been buoyed by heavy inflows of foreign investment and strong economic growth.

The economy grew by around 20 percent last year and is expected to expand by a further 15 percent this year.

Investors see the country as a stable emerging market with a government that has embraced pro-business policies, and the ruling MPLA's landslide victory in a parliamentary election last month ensured that the direction would not change radically.

"Angola is one of many places that are moving against the current economic cycle," said Helder Bataglia, the chairman of Portuguese conglomerate Escom, Angola's biggest non-oil investor.

The government, however, is under pressure to do more to spread the benefits of economic growth to Angola's 16.5 million people, many of whom live in run-down shantytowns that lack electricity, running water and sewage facilities.

Residents in Luanda, home to one third of the population, often have no option than to squat in derelict buildings in the city centre. Renovating these prized areas could ease the housing shortage and perhaps keep a lid on prices.

An opportunity to do so could emerge in coming years as President Jose Eduardo dos Santos's government embarks on a plan to build 1 million homes for the poor at a cost of $50 billion.

Yet some Luandans say they will resist an offer to move.

"Why should I?" says Ricardo, 17, who lives on the 18th floor of the Lagoa building, one of the most famous of Luanda's run-down housing blocks. "Where else can I wake up and have this beautiful view of the bay of Luanda? It's all I have."

http://africa.reuters.com/business/news/usnJOE49I078.html

DanteXavier

October 20th, 2008, 04:18 AM

Botswana: Countries Report Progress on Dry Port Project

The development of transport infrastructure like roads, railways and port facilities is considered crucial for further growth in Namibia and Botswana.

Addressing the fourth session of the Joint Commission of Co-operation between Namibia and Botswana at Walvis Bay this week, Foreign Affairs Minister Marco Hausiku said infrastructure development is essential for the entire African continent.

"Roads and railway networks constitute a strong foundation upon which to address many developmental challenges facing our countries and peoples," he said.

He said plans to build a railway line between Namibia and Botswana are gaining momentum.

"This will indeed be a milestone in infrastructure development and when implemented, will contribute significantly towards economic growth and trade between the two countries, the region and the larger international market," he stated.

Progress is also being made with the establishment of a dry port facility for Botswana in Walvis Bay.

The site was already handed over to Botswana in 2006, and a memorandum of understanding was signed earlier this year.

A lease agreement will be signed soon, it was said at the meeting.

It is believed that the establishment of the dry port will strengthen economic ties between the two countries.

Botswana's Minister of Foreign Affairs and International Co-operation, Phandu Skelemani, said although significant progress had been made in a number of areas since the commission last met in 2006, a lot more work needed to be done with regard to promoting the shared transport infrastructure.

He made specific reference to the signing of the memorandum of understanding on the Trans-Kalahari Highway in November 2003, and said that very little had been done in terms of pursuing its joint marketing.

He urged both countries' relevant authorities to meet more regularly to address all pending issues and to actively pursue joint marketing of the highway.

Skelemani also signed an agreement with Minister of Health and Social Services, Richard Kamwi, yesterday that will allow for joint and synchronised immunisation programmes and joint initiatives on HIV-AIDS and tuberculosis (TB) management.

The next joint commission meeting will take place in Botswana in 2010.

http://allafrica.com/stories/200810170583.html

Matthias Offodile

October 21st, 2008, 10:47 PM

An opportunity to do so could emerge in coming years as President Jose Eduardo dos Santos's government embarks on a plan to build 1 million homes for the poor at a cost of $50 billion.

Very good:cheers:

Yet some Luandans say they will resist an offer to move.

"Why should I?" says Ricardo, 17, who lives on the 18th floor of the Lagoa building, one of the most famous of Luanda's run-down housing blocks. "Where else can I wake up and have this beautiful view of the bay of Luanda? It's all I have."

Fortunately, Angola is not a full-fledged democracy otherwise it would be creeping like a snail...as for the houses that need to be renovated, people will have to leave...I am sure most of the horribly drecrepit building will make place for new and shiny modern development in the years ahead!:cheers:

Cityscapes all over the world had to go through this: massive transformation for the better!

Matthias Offodile

October 21st, 2008, 10:49 PM

Matthias Offodile

October 22nd, 2008, 12:19 PM

Agricultural News from Gabon (coffee and cocoa revitalization well underway)...this adds to the huge modern cattle faming and palm oil projects that have been initiated three years back.

Gabon : Bongo dans les plantations de café et cacao

14 octobre 2008

Le chef de l’Etat a visité le 11 octobre les plantations de cacao et de café autour de Bongoville et de Franceville pour évaluer les efforts de la Caisse de stabilisation et de péréquation (CAISTAB) dans le développement de la filière du café et du cacao. Cette exploitation mise en place dans le cadre de la relance du secteur initié depuis 2005 par le gouvernement emploie aujourd’hui plus de 1600 personnes.
Le président gabonais a chaussé ses bottes le 11 octobre dernier pour visiter les plantations de café et de cacao situées dans la région, dans la province du Haut Ogooué, au sud est du pays.

Le président Bongo Ondimba, a voulu évaluer les efforts consentis par la Caisse de stabilisation et de péréquation (CAISTAB) pour la mise en œuvre du soutien de l’Etat à la filière café et cacao sur l’étendue du territoire nationale.

Ces plantations ont été lancées par la Caisse de stabilisation et de péréquation dans le cadre de la relance du secteur, grâce au soutien de l’Etat depuis 2005.

“Nous interprétons la visite du président comme un signe d’encouragement, et comme un véritable appel au retour à la terre”, s’est réjouit le directeur général de la CAISTAB, Mathieu Otounga Ossibadjouo.

Aujourd’hui, ce sont 1600 nationaux qui sont employés dans cette exploitation agricole qui participe à la lutte contre la pauvreté en zone rurale et au projet de diversification de l’économie nationale cher au gouvernement gabonais.

La CAISTAB a multiplié ces deux dernières années des initiatives pour remettre sur les rails la production de ces deux cultures de rente pour en faire un des leviers de la diversification de l’économie.

La production du café et du cacao avait atteint son niveau record au Gabon en 1975 avec 17 000 tonnes.

Pour relancer ces filières, la CAISTAB a augmenté en octobre 2007 le prix d’achat du café et du cacao aux planteurs. Le prix du kg de café est passé de 400 à 450 FCFA et celui du cacao de 600 à 650 FCFA.

En septembre de la même année, le Fonds commun pour les produits de base (FCPB), basé à Amsterdam (Hollande), avait débloqué 12 millions de dollars pour financer un projet pilote de production d’un café robusta haut de gamme, “pour faire du Café gabonais ce qu’est le champagne en France”, avait indiqué le directeur général de la CAISTAB, Mathias Otounga Ossibadjouo.

popa1980

October 22nd, 2008, 04:03 PM

Matt, though I am anti-elitist I have some criticism of social housing when it is not combined with mass job creation. As we saw in the West, if people dont have jobs, these areas will just become slums in due time. The infamaous ghettos of the USA and slums of Glasgow and surburbs of Paris all started out as quite nice places but since the residents still suffered from high unemployment- disaster was inevitable. I would say that the government holds this off until we can see ANY signs of mass, labour- intensive jobs, something which has failed to transpire so far. HAve you seen those terrible social housing that they built in Tanzania in the 60s?

Matthias Offodile

October 22nd, 2008, 11:57 PM

popa1980

October 23rd, 2008, 01:13 AM

But Im right arent I? ANYWHERE in the world where mass social housing has been created without concurrent job creation has turned into slum within 20 years. They would be better spending that money on rural development so people move back into the countryside to relieve Luanda.

Matthias Offodile

October 23rd, 2008, 10:54 AM

how about going and check it out in the Angolan sub-forum?

preme3000

October 23rd, 2008, 01:17 PM

The leaders of three African trading blocs on Wednesday agreed to create a free trade zone of 26 countries with a GDP of an estimated $624bn (£382.9bn).

It is hoped the deal will ease access to markets within the region and end problems arising from the fact several countries belong to multiple groups.

The deal also aims to strengthen the bloc's bargaining power when negotiating international deals.

Analysts say the agreement will help intra-regional trade and boost growth.

The three blocs which struck the deal were the Southern African Development Community (SADC), the East African Community (EAC) and the the Common Market for Eastern and Southern Africa (Comesa).

"The greatest enemy of Africa, the greatest source of weakness has been disunity and a low level of political and economic integration," said Ugandan President Yoweri Museveni at a meeting with the heads of state who chair the three trade blocs.

The agreement will also lend its backing to joint infrastructure and energy projects in the zone.

Redressing imbalance

Six heads of state from 26 countries in Comesa, SADC and the EAC attended the meeting in the Ugandan capital, Kampala, to sign the agreement.

Many of the leaders and representatives consider the new pact a way of giving Africa a greater voice on the world stage.

"By coming together, the member states will have a strong voice in advancing our interests on the international scene," said South African President Kgalema Motlanthe.

Meanwhile, President Museveni said that it was a step in the right direction for a continent that suffered unfairly when it came to global trade.

President Motlanthe also called for developing countries to have positions within global institutions.

""While Africa and other developing countries had marginal influence over the decisions that have brought the international finance systems to the brink of collapse, unjustifiably, African countries will bear the brunt," he said.

"Development countries must be included in the governance of all international financing institutions to mitigate adverse effects on them," Mr Motlanthe added.

Groupings

The three blocs are already well-established in their own right but cover varying swathes of land and numbers of people.

The SADC was first established as the Southern African Development Coordination Conference in 1980 in order to reduce independence on apartheid South Africa.

It was reincarnated as the SADC in 1992. It covers a population of some 248 million people and a zone whose cumulative GDP is $379bn in 2006.

The SADC's members include South Africa, Tanzania, Zambia and Zimbabwe.

Comesa was established in 1994 and replaced the Preferential Trade Area. It includes 398 million people and the area has a combined GDP of $286.7bn in 2006. Among its members are Zimbabwe, Zambia, Uganda and Sudan.

EAC is the smallest of the group in terms of GDP, and had a GDP of $46.6bn in 2006. Set up in 1967, disagreements between founding members Uganda, Kenya and Tanzania led to its collapse.

A treaty was signed for its re-establishment in 1999 and the new EAC was formed in 2000

http://i263.photobucket.com/albums/ii122/preme3000/_45133975_free-trade226.jpg

Matthias Offodile

October 25th, 2008, 12:31 PM

Kenya readies for Obama tourist boom

http://us.ft.com/ftgateway/images/ftcom_logo.gif

By Parselelo Kantai in Nairobi
Oct 24 2008 13:35

Hollywood has its star tours, Boston the Freedom Trail. Now Kenya is busy planning a new addition to the world's tourist treks - the Obama experience.

Ten days away from the US presidential election, tour operators in the east African nation are positioning themselves for an Obama boom.

Kogelo, the remote village home of Barack Obama's grandmother, Sarah, is nowhere near Kenya's safari circuit. But the three hotels in the nearby city of Kisumu are booked solid for the week of the US elections, as visitors make a pilgrimage to the region where Mr Obama's father was born and buried.

A sub-economy has sprung up around Mr Obama's candidature with trinket and T-shirt traders, hawkers and kiosk operators hoping to do brisk business. Roadside hotels and barber shops, boutiques and hair salons have been renamed after Obama to attract business. An East African Breweries beer, Senator, has taken on new significance.

"People now say 'I want an Obama' when asking for Senator," says a Kisumu barman.

Noah Ger, who runs a tour firm specialising in western Kenya tours, said interest was picking up for Kogelo day trips.

Foreign correspondents are mining Kogelo and the slums of Nairobi and Kisumu for an Obama story - a new half-brother was "discovered" in Huruma, a poor Nairobi neighbourhood.

For residents of Kisumu, which supported prime minister Raila Odinga in the bitterly disputed presidential election in 2007, Obama-mania is closely connected with local politics. Mr Odinga is a member of Kenya's ethnic Luo tribe - as was Mr Obama's father. It has become a common refrain among Kenyans that the US will have an ethnic Luo president before Kenya does.

"It's almost as if we're falling back on Obama as our only hope," says Steve Sande, a Kisumu-based artist and activist.

"People are less interested in Obama becoming US president than they are in the fact that a son of this place has made it."

"There's always been this idea that our people have been neglected economically by the central government," says Mr Sande. If Obama wins, he says, the government will be forced to do things it has been unwilling to do for a generation. "They will have to upgrade the airport, for instance. Obama, when he returns to Kenya as the American president, will have to land in style."

MBA-Congo

October 25th, 2008, 06:44 PM

Cuba and Congo Expand Cooperation Ties
Cuba and Congo signed a group of agreements, aimed at expanding bilateral cooperation in areas such as public health and personnel training. The agreements were in the framework of the 13th Session of the Commission for Bilateral Cooperation, which run Tuesday through Friday in Havana.

During the intergovernmental meeting, the sides expressed the political will of both governments to strengthen bilateral ties and identify new areas for mutually beneficial collaboration, which constitute an excellent example of South-South cooperation.

During the opening session of the meeting, Cuban Deputy Minister for Economic Cooperation and Foreign Investment Orlando Requeijo said that Cuba will continue to support the development of Third World countries.

He added that, in spite of the devastation caused by hurricanes Gustav and Ike, with economic losses to the tune of five billion dollars, Cuba will honor its agreements with Africa.

For his part, Charles Zacharie Bowao, Minister of Cooperation, Humanitarian Action and Solidarity of Congo, thanked Cuba's assistance for more than four decades and praised the work being developed by Cuban health professionals in his country.

A total of 2,725 Congolese students have graduated from Cuban education centers at different levels. There are currently 456 Cuban professionals offering their services in the African nation.

Matthias Offodile

October 28th, 2008, 01:47 PM

Gabon : Petro Gabon s’installe à Mouila et Lebamba

Deux nouvelles stations service de la société Pétro Gabon on été inaugurées vendredi dernier à Mouila et Lébamba, deux villes de la province de la Ngounié (Sud du Gabon). Un investissement qui symbolise la permanence d’approvisionnement en carburant et la fin de pénurie de produits pétroliers pour les populations de ces deux agglomérations.

http://gaboneco.com/Pics/Actualite/1225098352-petro_gabon.jpg

Les responsables de la société Pétro-Gabon accompagnés de quelques membres du gouvernement gabonais ont inauguré, le 24 décembre dernier, deux nouvelles stations service à Mouila et Lebamba, deux de grandes villes de province de la Ngounié, située au Sud du Gabon.

La cérémonie d'inauguration a été présidée par le ministre d'Etat gabonais en charge des Affaires sociales Jean-François Ndongou, qui représentait le ministre des Mines, de l'Energie, du Pétrole et des Ressources hydrauliques, Richard Auguste Onouviet.

En effet, bien que le Gabon soit un pays producteur du pétrole beaucoup de petites villes de l’intérieure connaissent de difficultés pour s’approvisionner en produits pétroliers. L’arrivée de Petro Gabon à Mouila et Lébamba va redynamiser l’activité économique souvent plombée par de pénuries répétitives en produits pétroliers.

Société privée opérant dans le secteur de la distribution des produits pétroliers, Pétro-Gabon s'emploie depuis cinq ans à la construction de stations service à l'intérieur du Gabon, contribuant ainsi à l'aménagement du territoire, à la diminution du taux de chômage et surtout à l'approvisionnement régulier de l'arrière pays en produits pétroliers.

Hormis Libreville où elle a huit stations services, Pétro Gabon est présent à Lastourville dans l’Ogooué-Lolo, Mayumba (Nyanga), Mouila et Lébamba (Ngounié) et Lambaréné (Moyen-Ogooué).

Créée en 2001, Petro Gabon est une entreprise à capitaux entièrement gabonais:cheers: et domine le marché de la distribution du gaz butane avec 55% des parts du marché. Elle emploie plus de 1500 gabonais et détient déjà 45% du marché total de la distribution des hydrocarbures au Gabon aux côtés de Total marketing Gabon et Oil Lybia

Publié le 27-12-2007

Matthias Offodile

October 28th, 2008, 01:55 PM

and one more

Gabon : Port-Gentil se dote d’une nouvelle station Petro Gabon

Le ministre gabonais délégué aux Mines, Sylvain Momoadjambo, a inauguré en fin de semaine dernière à Port-Gentil, une nouvelle station de distribution de produits pétroliers de la société gabonaise Petro Gabon. Cette station services, la treizième de la société gabonaise de distribution de produits pétroliers sur l’étendue du territoire national, a été accueillie par les autorités locales comme un signe important de la diversification de l’économie gabonaise, de surcroît dans le secteur très concurrentiel de la distribution de produits pétroliers.
:cheers:

Les autorités gabonaises ont marqué avec faste l’ouverture de la treizième station de distribution de produits pétroliers de la société gabonaise Petro Gabon, implantée dans la capitale économique du pays, Port Gentil.

Le ministre délégué aux Mines, Sylvain Momoadjambo, le Président directeur général de Petro Gabon, Jean Baptiste Bikalou et le maire de la commune, André Jules Ndjambé, a pris part à la cérémonie d’inauguration de cette nouvelle station service, la plus grande implantée par la société gabonaise:cheers:, sis au quartier Cabane à Port Gentil.

«Petro Gabon a la double ambition d’être le premier choix des clients et de leur offrir un service de proximité. Sept ans après la création de Petro Gabon, nous sommes numéro deux du marché gabonais de distribution des produits pétroliers avec 45% des parts du marché, et numéro un de distribution du gaz butane au Gabon», a souligné le PDG de Petro Gabon, Jean Baptiste Bikalou.:cheers::cheers::cheers:

«Notre engagement à respecter les lois et règlements de notre pays, notamment en matière de sécurité et d’environnement, ainsi que notre volonté d’assurer la pérennité de Petro Gabon, nous amène à aller toujours plus loin à notre quête de l’excellence», a –t-il ajouté.

Selon le PDG de Petro Gabon, cette nouvelle station est bâtie sur une surface de 2535 m².

Toutes les cuves ainsi que le séparateur d’hydrocarbures sont en doubles parois et ont été enfouies dans des fosses bétonnées pour garantir le respect de l'environnement. La réalisation de cette station a coûté 800 millions de francs CFA, 89 agents y travailleront

La station n'est pas le seul investissement de Petro Gabon sur ce site comme le souligne son PDG. «Sur ce site, nous avons également construit un immeuble de deux étages d’une surface total habitable de 290m². Le premier étage de ce bâtiment sera entièrement dédié à notre agence commerciale de Port Gentil, tandis que le rez-de-chaussée recevra d’autres activités commerciales».

Si le ministre Sylvain Momoadjambo a louer cette initiative qui témoigne selon lui de «la preuve indéniable de l’intérêt que le gouvernement de la République accorde aux initiatives privées comme Petro Gabon dans le sens de la diversification de l'économie», il a déclaré que cette «réussite rassure les gabonais qui avaient encore des doutes sur les capacités de nos compatriotes à créer et surtout à bien gérer dans la durée une entreprise dans un secteur aussi concurrentiel que celui de la distribution des produits pétroliers et du gaz butane».

Publié le 27-10-2008

Matthias Offodile

October 30th, 2008, 12:53 PM

Namibia: Economy Showing Resilience

New Era (Windhoek)

New Era (Windhoek)

29 October 2008
Posted to the web 29 October 2008

Desie Heita
Windhoek

Namibian businesses still have confidence in the local economy despite global crisis reports of doom and gloom.

The general sentiment among businesses from all sectors of the economy is that there would be no major changes to the local economy, be it micro or macro, for the period ending the end of the year. However, companies did give off an underlying sense of caution of the global economic crisis not yet felt locally.

In the newly released IJG's Quarterly Business Confidence Survey, conduc-ted by the Institute of Public Policy Research (IPPR), Namibia's top companies said the third quarter of 2008 was most positive compared to the second quarter and that they do not expect major changes in the fourth quarter of the year.

The IPPR conducted the business climate survey among the 100 companies from Namibia's largest employers across the various sectors. "[The findings] indicate faith in the resilience of the Namibian economy against a backdrop of looming global recession," IPPR said.

Many companies, especially within the retail sector, answered that the third quarter is positive which they attributed to increases in the price of basic commodities. Only mines and banks felt the pinch because of the increase in operational costs and the reduction in credit extension to consumers.

The retail sector, 48 percent of the respondents, said they have recorded an increase in their turnover for the third quarter, compared to the previous quarter, again due to the increase in the prices of basic commodities.

"As the prices of basic commodities continue to rise, turnover forecasts remain in positive territory for many respondents, with 57 percent of those surveyed predicting an increase in revenue in the next quarter. This trend cut across all sectors, although retailers and hospitality establishments expressed more confidence as the festive season approaches, a period characterized by high spending," IPPR said in its report.

Although the agricultural sector did not perform well during the quarter, the outlook for grape producers is positive as the harvest season approaches, with the possibility of the producers taking on more labour on a temporary basis.

"However agricultural implement suppliers expressed sentiments about the fourth quarter. The trend might have been expected to be the opposite as the beginning of the agricultural season approaches," said the IPPR report. The report further says the fall in the value of the Rand and the Namibian dollar against the US dollar should work in the sector's favour as the revenue is export based.

The banking sector experienced a bumpy ride in the third quarter due to the reduction in credit extension. Banks have however indicated their willingness to invest in capital equipment to improve technology, rural branch network expansion, and to prepare for the entrance of the fifth commercial bank in the market, Absa bank.

IPPR says despite the positive outlook by the private sector nothing was said of increasing labour forces and embarking on capital investments. IPPR says this "indicates an underlying sense of caution about impacts from the world economic crisis that have not yet been felt in Namibia."

Of all the respondents in the survey, 15 percent of the companies indicated that they will be shedding some of their employees, and 60 percent said they do not intend to invest in plant and equipment in the next quarter.

Only the technology, construction and mining sectors indicated, as 40 percent of the respondents, that they are planning capital investments.

Matthias Offodile

October 30th, 2008, 12:54 PM

Ghana: Nana Addo Dazzles Valco

Ghanaian Chronicle (Accra)

Posted to the web 27 October 2008

Richard Kofi Attenkah
Tema

Nana Addo Dankwah Akufo Addo, Presidential candidate of the New Patriotic Party (NPP) last Thursday outlined his vision to propel Ghana into the brackets of first class economies.

He noted that until Ghana decides to add value to its primary products, it can not create the needed high paying jobs for its people and also ensure industrialisation. "Unless we industrialise with the goal of adding significant value to our primary products, we cannot create the necessary numbers of high-paying jobs that will take us into the ranks of first-world nations", he said.

Addressing the management and staff of the Volta Aluminium Company Limited (VALCO), the nation's sole smelter plant, to launch his industrialization policy, the NPP flagbearer pointed out that at this time in the nation's history, the country has all it needs to lift itself up into the first class economy brackets.

Nana Addo noted: "Indeed, aside from bauxite and energy, there are iron ore, gas, crude oil and its downstream products, particularly plastics and bitumen that are crucial to industrialization.

"Fortunately, Ghana is endowed with each and every one of these. With Bauxite at Kyebi, Nyinahin and Awaso, iron ore at Oppong Manso and in parts of the north, and oil at Cape Three Points and elsewhere, we are blessed. Our limit will be determined by how we can optimise our business environment, make the necessary critical investments and position our people to benefit from these blessings of God, both as individuals and as part of their community", he said.

Giving the current state of the industrialization in Ghana, the NPP Presidential candidate explained that the industrial sector contributed 25 percent to the country's GDP, coming behind agriculture and the service sectors, while manufacturing contributes only 10 percent.

Using the countries in Latin America and Eastern Asia as point of reference, Nana Addo noted that over the last four decades the relative success of the Asian countries has been mainly due to the manufacturing share of their GDP.

According to him, Eastern Asian countries are doing well economically, than their Latin American counterparts due to the fact that they have shifted their focus to industrialization rather than to the other sectors.

"Whereas in 1965, the manufacturing sectors accounted for 25% of their region's GDP, by 1980, manufacturing in East Asia had risen to 35% while in Latin America, the situation was the same", adding "by 2004, manufacturing as the share of GDP in Latin America had declined to 15%".

Nana Addo stressed that our inability to industrialize as a nation was not only due to our failure to realize the vision of VALCO and Akosombo, but it was also because no systematic attention was paid to the need for sound macro economic fundamentals and physical responsibility in the management of the national economy.

He said the structure of our production depended too heavily on imported raw materials, leading to wide spread efficiencies, high cost, low quality and neglect of the export market.

He said, when the Kufuor administration took over the mantle of leadership in the country, strenuous efforts to revolutionalize the economy was put in place, which culminated in the Kufuor government engaging in negotiations with both Kaiser Aluminium Company of Houston, USA and Aluminium Company of America (ALCOA) in Pittsburg, to acquire the complete ownership of VALCO.

"Our new partners, VALE do Rio Doce of Brazil, the second largest mining company in the world and the owner of the largest Alumina refinery in the world, and Norsk Hydro Aluminium Company, the largest Aluminium Company in Europe have teamed up with government to develop the first Aluminium Industry in Ghana", he stated.

He indicated that in order to actualise this vision, the NPP government had introduced a bill in the current parliament to give legal backing to the creation of an Integrated Aluminium Authority (IAA), which will be responsible for the growth of the industry.

Nana Akufo-Addo added that the mining of iron ore on the other hand would also make it easier for the country to establish vehicle assembling plants, as well as the manufacturing of other heavy machinery and equipments.

Nana further pointed out that the recent discovery of oil, which benefits are well known to all and sundry gives a perfect combination of natural resources that put Ghana in the position to be a significant industrial economy.

He further explained that given all the potentials and natural resources available to Ghana, what the nation needs is a leader who has the political will to transform our resources into wealth, for the well-being of all Ghanaians, and that leader is him.

Matthias Offodile

October 30th, 2008, 12:56 PM

Nana Addo Dankwah Akufo Addo, Presidential candidate of the New Patriotic Party (NPP) last Thursday outlined his vision to propel Ghana into the brackets of first class economies.

He noted that until Ghana decides to add value to its primary products, it can not create the needed high paying jobs for its people and also ensure industrialisation. "Unless we industrialise with the goal of adding significant value to our primary products, we cannot create the necessary numbers of high-paying jobs that will take us into the ranks of first-world nations", he said.

:cheers:

Mwafrika

October 31st, 2008, 02:42 AM

KSh2.2bn Business Park to be built in Nairobi

http://www.nation.co.ke/image/view/-/485696/medRes/48602/-/h/400/w/600/-/2pyy00z/-/2.jpg
President Mwai Kibaki lays the foundation stone with the Sameer Group of Companies Chairman Naushad Merali during the laying of the foundation stone at Sameer Business Park along Mombasa road in Nairobi on Thursday. The centre will cost more than Sh2.2 billion to complete. PHOTO/STEPHEN MUDIARI

A ground-breaking ceremony for the first business outsourcing park in East Africa was held in Nairobi on Thursday.

Located along Nairobi’s Mombasa road, the proposed Sh2.2 billion ultra modern Sameer Business Park will have more than 500,000 square feet of offices, show rooms, coffee lounges and car parking facilities for at least 600 vehicles, chairman Naushad Merali said.

The park is to be completed in December, 2009. The second phase will see development of a modern hotel and conference facilities next to the park.

President Kibaki, who inaugurated the construction, said the investment was a sign that the business climate in the country had improved.

“Our country is now ready to be a destination of choice for local and international investors,” he said. The President said the park will help ease unemployment among the youth, which stands at over three million.

“It is the private sector through investments like this, that creates jobs. I am pleased to see that one of the main business lines for this facility will be Business Process Outsourcing.

http://www.nation.co.ke/image/view/-/485694/medRes/48592/-/h/400/w/600/-/oi4mryz/-/1.jpg

“The park will position Kenya to compete in the dynamic and rapidly growing ICT sector,” he said.

He said the Government wanted to make Kenya the top Business Process Outsourcing destination in Africa in five years and plans were in the pipeline to build a Business Process Outsourcing park “with world class infrastructure geared at attracting global businesses to Kenya to compete in the ICT sector.”

Speeded up

The Government has speeded up the improvement of roads, airports, seaports, electricity, water, telecommunications, railways and other supportive infrastructure to achieve this goal, he said.

“To ensure policy support for these measures at the highest level, we have now created Cabinet portfolios for Industrialisation, Trade, Nairobi Metropolitan Development and the Vision 2030.”

source: Daily Nation Online - http://www.nation.co.ke/News/-/1056/485660/-/tligri/-/index.html

Renders...

http://i56.photobucket.com/albums/g186/mwafrika/sameer2.jpg

http://i56.photobucket.com/albums/g186/mwafrika/sameer1.jpg

BUTEMBO21

October 31st, 2008, 03:03 AM

Just amazing. that i a sweet project for a city like Nairobi

Matthias Offodile

November 14th, 2008, 10:49 PM

Agricultural news from Gabon: two new big agro-industrial projects/plants (manioc) are set to open in Gabon´s interior (this comes in connection with the construction of a mega construction of a hydro- -eclectric dam) the two agricultural projects create 3000 direct jobs ...it´s no government project it is privately financed

Le chef de l’Etat aujourd’hui dans le Haut – Ogooué pour le lancement de deux grands projets industriels

(Gabonews 14/11/2008)

Libreville, 14 novembre (GABONEWS) - Le chef de l’Etat procédera demain, samedi à la pose des premières pierres de la Centrale Hydraulique de Grand Poubara et de l’unité de production du manioc de Léconi, selon le communiqué final du Conseil des ministres en date de jeudi. Omar Bongo Ondimba quitte Libreville ce vendredi matin à cet effet.

Le barrage hydroélectrique de Grand Poubara accroîtra la production en électricité pour trois provinces: Haut – Ogooué, Ogooué-Lolo et Ogooué-Ivindo. Il aura une incidence positive sur les activités et la vie des populations dans cette partie du Gabon.

Le second projet est la réalisation à Léconi, d’un complexe agroindustriel intégrant une plantation de 33.000 ha de manioc et une usine de transformation de ce manioc en autant de produits dérivés que sont l’amidon, la farine de manioc (encore appelée « foufou »),la pâte de manioc et des aliments pour le bétail.

On précise à Libreville que les travaux de construction débuteront le mois prochain et que l’usine de Léconi sera opérationnelle dès la fin du mois de Juillet 2009.

Selon des sources autorisées, cet important chantier créera près de 3.000 emplois directs. Ce pourrait être le début de la relance de l’agro-industrie gabonaise, pour laquelle le chef de l’Etat gabonais a convaincu la Société ANK-Léconi de se commettre.

Matthias Offodile

November 18th, 2008, 09:36 PM

Gabon : L’Institut africain de management met un pied à Libreville:cheers::banana:

Publié le 18-11-2008

L’Institut africain de management (IAM) de Dakar, au Sénégal, a récemment signé une convention pour la délocalisation d’un certain nombre de diplômes à l’Académie franco américaine de management (AFRAM) de Libreville. Cet accord de coopération universitaire Sud-Sud devrait permettre de faciliter la mobilité des étudiants et de favoriser les échanges d’enseignants entre les deux pays, pour améliorer la formation des ressources humaines nationales dans ce secteur-clé pour le développement des économies de ces deux pays.

Une nouvelle coopération inter universitaire Sud-Sud vient d’être mise en place avec la signature d’une convention de partenariat entre l’Institut africain de management (IAM) de Dakar, au Sénégal, et l’Académie franco américaine de management (AFRAM) Libreville.

Cette convention organise la délocalisation de certains diplômes de l’IAM, établissement supérieur habilité par la Conseil africain et malgache de l’enseignement supérieur (CAMES) et actuellement dirigé par un ancien ministre sénégalais, Tidjane Sy, à l’AFRAM de Libreville, à partir de la licence et pour une période minimale de 12 mois.

L’accord signé dans la capitale sénégalaise organise notamment la délocalisation du MBA, du Master en banques et ingénierie financière, du master en audit et contrôle de gestion, du Master en marketing et intelligence d’affaires et du Master en gestion des organisations des organisations.

L’accord présente également un chapitre qui organise les échanges d’enseignants entre les établissements d’enseignements supérieurs sénégalais et gabonais.

La convention stipule que «L’IAM devra assurer 60% des enseignements de chaque programme pour délivrer et signer les diplômes en son nom».

Ces formations délocalisées sont ouvertes aux candidats titulaires d’un niveau bac +3 ou bac +4 pour le master II qui propose une formation délocalisée de 12 ou 14 mois, tandis que les prétendants au MBA devront justifier d’un niveau bac +3 ou bac +4 ainsi que d’une expérience professionnelle, pour une formation limitée à 12 mois.

Les recrutements seront effectués à Libreville par les services compétents de l’AFRAM et validés par l’IAM. Les effectifs minimums requis pour l’ouverture d’une formation sont de 15 à 20 postulants.

La convention ne stipule également que l’IAM dispose d’une place dans le jury des examens d’études des diplômes concernés.

Le document cadre établit une coopération sur une durée de trois années renouvelables et entre en vigueur à compter de cette année académique.

Cette nouvelle coopération Sud-Sud devrait permettre de renforcer les capacités de formation de l’enseignement supérieur ainsi que la mobilité étudiante et enseignante dans les deux pays.

La formation des ressources humaines nationales dans le secteur-clé du management devrait permettre de soutenir le développement de l’économie dans les deux pays.

Matthias Offodile

November 18th, 2008, 10:04 PM

news concerning diversification: Gabon is aggressively aiming to become the world leader of maganese...this will add to its mighty iron ore resserves which are among the biggest unexploited iron ore resserves IN THE WORLD..Areva is looking to reopen its uranium mines, significant - largely
untouched resserves - lie in Gabon...but I hate exploitation of uranium:puke:

Manganèse, fer et uranium : les promesses du Gabon

De notre envoyée spéciale à Libreville,

Crise mondiale oblige, la production du manganèse marque le pas au Gabon. La Comilog qui exploite le métal destiné à la sidérurgie s’adapte à la baisse de la demande de ses principaux clients, les Etats-Unis, et surtout la Chine. Cela ne remet pas en cause l’ambition du groupe franco-gabonais Eramet : faire du Gabon le premier producteur mondial de manganèse.:cheers:

Pour y parvenir, la Comilog a besoin d’une meilleure fourniture en électricité, elle compte pour cela sur l’extension du barrage de Poubara. C’est maintenant acquis, samedi le président du Gabon était sur place pour inaugurer le chantier. Et dès le lendemain dimanche, on rencontrait des géomètres chinois au travail sur la piste d’accès au barrage. Car la centrale hydroélectrique de Poubara située au sud du pays devrait partiellement alimentée tout au nord, les futures mines de fer dont les Chinois ont obtenu la concession.

Le fer de Belinga est un gisement de légende. Par sa taille, c’est l’un des plus grands au monde. Par son emplacement, sous un manteau forestier qui rend son accès très compliqué, son exploitation hors de prix et contestable sur le plan écologique. Même les opérateurs chinois auraient des réserves sur la viabilité économique du projet. Mais le président Bongo y tient.

Et la crise n’entame en rien la détermination des Chinois. En ce moment ils pressent les autorités gabonaises pour que le siège de la société, la Comibel, soit rapidement construit à Libreville.

Dans la capitale gabonaise, la crise économique mondiale n’a pas encore plombée l’atmosphère, l’ambiance du super cycle des matières premières est au contraire toujours d’actualité. Areva envisage même de reprendre la production d’uranium. Fermée depuis près de dix ans sa mine située à Mounana pourrait rouvrir dans les prochaines années. L’exploitation d’autres sites serait également à l’étude. La patronne d’Areva, Anne Lauvergeon, vient aujourd’hui à Libreville pour en parler.

par Dominique Baillard

[18/11/2008]

more news on the revival of coffe plantations

Gabon-Café: la Caistab, maître d’œuvre de la réhabilitation de la filière

(18/11/2008)

Apres l’embellie des années 70, quand le Gabon produisait 3 000 tonnes de café par an, la production caféière nationale s’était effondrée d’environ 90% au début des années 2000. Depuis quelques années, la filière renaît de ses cendres grâce au coup de pouce du président.

A l’origine de cette régénération de la filière, les préconisations majeures du Document stratégique de croissance et de réduction de la pauvreté, qui ont ouvert sur une nouvelle vision du développement de la diversification.

C’est dans ce cadre qu’est dévolue à la Caisse de Stabilisation et de Péréquation, encore appelée Caistab, la mission de transformer la caféiculture en levier de développement et outil d’aménagement du territoire.

Avec des fonds publics en hausse constante, les plantations recouvertes par la forêt sont réhabilitées par la Caistab, qui assure en même temps la formation des paysans et la commercialisation du café, avec un prix garanti capable à terme de rendre les producteurs autonomes. Le postulat des autorités gabonaises est clair : le café peut, doit et va redonner du travail et un revenu régulier à ceux qui s’y investiront. Et ce ne sont pas les mesures d’incitation qui font défaut.

Le directeur général de la Caistab, Matthias Otounga Ossibadjouo, en est bien imprégné. Il use d’ailleurs de formules simples pour définir un grand dessein : << espérer apporter un peu de prospérité dans le monde rural et générer des devises>> pour l’Etat.

Pour Matthias Otounga Ossibadjouo, << la stratégie s’échelonne en six missions : réhabiliter le verger national, vieux d’un peu plus de trente ans ; créer de nouvelles plantations en misant sur une nouvelle génération de planteurs ; développer des pépinières de nouvelles variétés a meilleur rendement (18-24 mois) ; intensifier la lutte phytosanitaire ; créer un centre d’apprentissage pour inculquer les savoirs utiles aux postulants, à condition qu’ils disposent de terres appropriées et leur procurer un accompagnement sur six mois environ ; encadrer les planteurs en les amenant à utiliser de nouvelles méthodes culturales et rechercher des financements et la garantie des prêts aux acteurs de la filière >>.

GN/CWNB/IZ/08

La promotion du café africain à l’honneur à Libreville

(Infosplusgabon 18/11/2008)

LIBREVILLE, (Infosplusgabon)- La capitale gabonaise, Libreville, accueille lundi à la Cité de la Démocratie la cérémonie de lancement officiel des activités de l’Agence des cafés Robusta d’Afrique et de Madagascar (ACRAM).
Cette structure est apparue suite à la dissolution de l’Organisation africaine et malgache du café (OAMCAF), à Yaoundé en 2007, à l’issue d’un conseil des ministres.

L’OAMCAF avait été créée le 7 mars 1960, sous l’impulsion des chefs d’état des pays francophones de la zone franc. Les pays africains producteurs ont décidé de se regrouper à nouveau pour développer et promouvoir le café de type Robusta d’Afrique et de Madagascar.

Selon Mme Yolande Nyonda, directrice générale adjointe des Caisses de Stabilisation et de Péréquation, « cette structure qui connaîtra une forte participation des acteurs privés, venus défendre les intérêts des planteurs, torréfacteurs, et exportateurs, aura pour objectifs principaux, de promouvoir les cafés d’Afrique et de Madagascar, d’améliorer les revenus et les conditions de vie des producteurs, ainsi que l’organisation des filières dans les zones de production », rapporte lundi le quotidien l’Union.

L’ACRAM se fixe pour objectif de défendre les intérêts des pays producteurs sur les marchés mondiaux du café, de façon réorganisée, puisque la libéralisation des filières et la suppression des systèmes de quotas avaient rendu obsolètes les missions de l’Organisation.

Par Célia LEBUR

Matthias Offodile

November 20th, 2008, 01:34 PM

More news by Radio France on Gabon´s revival of coffee sector/plantations...even the president acts like a role model now and opened a cofee plantation...so many new planations get built or rehabilitated , some of which were dysfunctional since the early 70´s...prices for cofee are also subsidized by the government and plantation growers will get fixed prices like it was the case in the Ivory Coast...same will happen with cocoa sector, too.:cheers:

Gabon : du pétrole dans le café

http://www.rfi.fr/actufr/images/057/dominique_baillard100.jpg
Dominique Baillard
(Photo : RFI)

Avec notre envoyée spéciale à Libreville, Dominique Baillard

Le Gabon se rappelle au bon souvenir du marché du café. En accueillant à partir de ce lundi la première réunion officielle de la toute nouvelle Agence des cafés robusta d’Afrique et de Madagascar, instance créée pour promouvoir la production africaine, Libreville entend faire savoir qu’il y a d’autres matières premières que le pétrole pour assurer le développement. Qu’il y avait, devrait-on dire, car il est loin le temps où la filière café cacao renflouait la caisse de stabilisation et de péréquation des hydrocarbures.

Dans les années 70, le Gabon sortait 3 000 tonnes de café par an, on espère 300 tonnes pour cette campagne. Déjà déclinante, la production s’effondre au début des années 2000. Pressurisée par le FMI, la caisse n’a plus les moyens d’acheter la récolte. Depuis quelques années, la filière renaît de ses cendres grâce au coup de pouce de l’Etat. Avec des fonds publics en hausse constante, les plantations recouvertes par la forêt sont réhabilitées. Histoire de transmettre le goût de cette culture aux plus jeunes, les dirigeants deviennent ou redeviennent planteurs. Le président Bongo en personne a sa plantation de café près de Franceville.:cheers:

Les industries extractives ont asphyxié la culture du café. Le pétrole bien sûr mais aussi le manganèse et l’uranium ont vidé les villages. Le café apparaît aujourd’hui comme un outil de développement et d’aménagement du territoire. Comme le cacao, le café redonne du travail et un revenu régulier à des hommes et des femmes « assis », c’est-à-dire sans emploi.

Paradoxe à la gabonaise, la filière tuée par le pétrole redémarre aujourd’hui grâce aux revenus pétroliers. La caisse qui assure la réhabilitation des plantations, la formation des paysans, la commercialisation du café avec un prix garanti espère à terme rendre les producteurs autonomes. Cette nouvelle orientation a déjà éveillé l’intérêt de grandes maisons de négoce. Olam est prêt à acheter la totalité de la récolte gabonaise pendant les vingt prochaines années. D’autres partenaires sont intéressés. Pour la caisse de stabilisation, la discussion ne fait que commencer.

par Dominique Baillard

Muttie

November 27th, 2008, 08:03 PM

Morocco-Africa-Economy

Morocco’s Attijariwafa bank takes majority shareholding in five African banks

APA-Casablanca (Morocco) Morocco’s leading private financial institution, Attijariwafa bank, has announced it took a majority shareholding in five banks to strengthen its presence in five African countries, reliable sources told APA on Thursday.

The Moroccan bank obtained its shares in the targeted African banks from the French bank, "Credit Agricole" for some 2.8 billion dirhams (350 million dollars).

An agreement was signed to that effect between the two banks, under which "Crédit Agricole SA takes another 24 per cent of Credit du Maroc’s shares held by Wafa Assurance, an Attijariwafa subsidiary, and 15 per cent from Wafasalaf .

"Credit Agricole" thus becomes Credit du Maroc’s leading shareholder (77 percent) for 1.6 billion dirham and already holds 49 per cent of Wafasalaf for an additional 0.8 billion dirham.

With the takeover, the Moroccan bank now holds 81 per cent of Credit du Congo, 51 percent of Societé Ivorienne de Banque, 65 percent of Société Camerounaise de banque, 59 percent of Union Gabonaise de banque and 95 per cent of Credit du Sénégal.

a_bondima

November 28th, 2008, 10:06 AM

China firms plan Cameroon cement, fertiliser plants

By Tansa Musa
YAOUNDE, Nov 27 (Reuters) - Chinese companies plan to build a fertiliser plant and a cement factory in Cameroon worth a combined 170 billion CFA francs ($334.3 million), authorities in the central African country said on Thursday.
China's Overseas Construction Group Co Ltd (CGC) signed a draft agreement to build a 135 billion CFA plant using local natural gas to produce 80,000 tonnes of ammonia and 130,000 tonnes of urea per year for use in fertiliser, officials said.
"Cameroon is demonstrating a real desire to use its large reserves of natural gas," Polycarpe Ateba, a spokesman for the Ministry of Industry, Mines and Technological Development, said.
"CGC Overseas Construction Group Co is a strategic partner which has wide experience in building and operating chemical fertiliser production units," he said, adding the Chinese company would build and run the new factory.
CGC is involved in a number of industrial construction projects in Africa, including building Ethiopia's first glass factory earlier this year.
Separately, the ministry said in a statement that China Aero-Technology International Engineering Corportation (CATI-ENG) had signed a 35 billion CFA franc draft deal to build a cement factory in Cameroon and run it via a local subsidiary.
The factory will help plug a cement supply shortfall in Cameroon, which currently produces only 750,000 tonnes of cement per year, far short of demand that Industry, Mines and Technological Development Minister Badel Ndanga Ndinga estimated at around 3 million tonnes a year.
A South Korean-led consortium signed a deal in January to build a 1 million tonne-a-year cement factory in Cameroon's coastal town of Limbe by April, but the plant has yet to begin production.
The Chinese-funded fertiliser and cement factories are expected to benefit from preferential financing terms from China's Exim Bank, officials said.
"At a time when the economies of the North are in recession, when a serious financial crisis is hitting the big countries of America, Europe and Asia, reducing direct foreign investments in the South, China stands out as an exception," Ndinga said.
Cameroon, a former French colony, is the dominant economy in the six-nation central African CFA franc zone, exporting crude oil, bananas, cocoa and cotton. It also has rich deposits of bauxite, iron ore, cobalt, nickle and uranium.
The country said in July, before the global financial crisis took the shine off bullish metals prices, that it expected some $10 billion in mining investments in the coming years. (Writing by Alistair Thomson; Editing by Pascal Fletcher)

Tetwani

November 29th, 2008, 08:42 PM

Morocco-Africa-Economy

With the takeover, the Moroccan bank now holds 81 per cent of Credit du Congo, 51 percent of Societé Ivorienne de Banque, 65 percent of Société Camerounaise de banque, 59 percent of Union Gabonaise de banque and 95 per cent of Credit du Sénégal.

WOOWW!!
Thats a real RAZZIA man.

They must be happy at ATW Bank

Matthias Offodile

December 1st, 2008, 09:33 PM

Dubal signs JV to explore alumina in Cameroon

December 02, 2008

Reuters reported that three companies including UAE's Dubai Aluminum, aiming to develop an alumina project in Cameroon have formally created a JV to manage the business.

The JV named Cameroon Alumina Limited, which aims to exploit a 1.2 billion tonne bauxite deposit in Cameroon, comprises Dubai Aluminum, Hindalco Industries from India and US firm Hydromine. The consortium intends to invest USD 5 to USD 6 billion in a bauxite mining and refinery project near Ngaoundere, around 400 kilometer to the north of capital Yaounde, plus a railway line linking the complex to the port of Douala.:cheers:

Mr Peter Brigger president of Hydromine said that '"The region from where the mineral will be extracted contains about 1.2 billion tonnes of bauxite. Cameroon Aumina intends to produce 3 to 3.2 million tonnes a year throughout the mining period." He added that production may begin in 2013. He said that the three firms had already signed deals covering supply of material from the project.

It may be mentioned that Cameroon has cut its 2009 economic growth forecast for 2009 to 4% from an earlier forecast of 6% to 6.5% blaming the global financial crisis for lowering prices of the oil and metals it exports.

You are to blame

December 1st, 2008, 09:56 PM

Burundi: 'Heart of Africa' Mall Lifts Bujumbura City
East African Business Week (Kampala)

29 November 2008
Posted to the web 1 December 2008

Walter Isenged
Bujumbura, Burundi

Following the recent peace initiatives in Burundi, the investment climate has become more appealing and this has seen an increase in investment by local entrepreneurs.

There is a large increase in building projects and the emergence of a whole new suburb populated entirely by new houses. The new 'quartier' (French for area) also boasts of a new road, expanded electricity and water supply and a whole new feeling of novelty.
Not to be outdone, the city centre is also being given a facelift. Several new buildings have come up. Now that the roads are being fixed, it is a sure thing that more are on the way.

In tandem with most urban centers in East Africa, Bujumbura is also seeing the emergence of a new type of building complex, the mall. 'Quartier' Asiatic used to be the quasi-small scale wholesale zone populated by the ubiquitous 'Qincallerie' or hardware store. It is called 'Quartier Asiatic' because of the proliferation of stores manned mainly by persons originating mainly from the orient, but who have settled for decades in Burundi. This dust blown quarter, also benefiting from the new road building initiative, is experiencing a new facelift.

In an area once notorious for clutter, a Burindian businessman has constructed a neat single story shopping mall and called it 'Coeur d'Afrique' or Heart of Africa, a statement meant to emphasize the heart like shape of the country. In just under six months since inauguration, the mall now has full occupancy with such chic places as boutiques, a coffee shop, internet café, an aerobics hall and a fully loaded spa that boasts of a modern massage parlour. Last month, a jeweler also set up shop in the complex to give the final shine to the already impressive mall.

http://allafrica.com/stories/200812011017.html

Nobleskills

December 2nd, 2008, 10:47 AM

State discussing construction of Sh237b Lamu port with Qatar

Negotiations are underway between Kenya and Qatar for the construction of a multi-billion dollar port at the Lamu island.

Construction of the port, which will cost Sh273 billion ($3.5 billion), is expected to begin in 2010 and once complete will have capacity to handle larger vessels and ease congestion at the port of Mombasa.

A statement from the Office of the President on Monday said President Kibaki made a ‘strong’ proposal to Qatari Emir Sheikh Hamad bin Khalifa al-Thani during his visit to the Gulf state.

"The Emir assured President Kibaki that his Government was keen on the Lamu project as it sought to diversify its international investment portfolio," the statement said, without giving any more concrete details of a possible deal. Kenya has for years been planning to create a second port — after the main docks at Mombasa — in the Lamu area on its northeastern coastline towards Somalia.

The Island is ideal for its close proximity to countries lying north of Kenya, namely Sudan and Ethiopia and also the Kenyan hinterland.

The Mombasa port has been struggling to cope with large volumes of cargo and port authorities have in the recent past called for the fast tracking of the proposed port.

owo9ja

December 2nd, 2008, 08:18 PM

Tuesday, December 2, 2008 Printer Friendly Version

Obudu race set to become African championship

By Nurudeen Obalola

The annual Obudu International Mountain Race is on course to becoming the official mountain racing championship for Africa, the organisers have promised.

The Governor of Cross River State and the chief host of the Obudu International Mountain Race, Liyel Imoke, and the President of the World Mountain Running Association, Danny Hill, said the race could become the African championship as early as next year.

Ethiopia's Abebe Dinkesa and Austria's Andrea Mayr both set new course records as they won the men's and women's events of the main race on Saturday. Dinkesa won in 41 minutes, 45 seconds, while Mayr beat stronger looking rivals to win in 51 minutes, 14 seconds.

Imoke spoke with journalists at the Obudu Cattle Ranch after presenting prizes to the winners of some of the races on Saturday.

He said, "I'm very happy that we have had another successful outing. This year's race was better organised than what we had last year and we want to continue to improve.

"Our objective is to make the event the best organised international race in Africa and we're getting there. We have been able to attract many world-class athletes in mountain racing, including the world champion, and we're expecting more next year.

"The next step for us is making the Obudu Mountain Race serve as the African Mountain Racing Championship, where an African champion will emerge. International athletes from outside the continent will still, however, continue to participate.

"There will be one main race as usual but the best placed African will become the continent's champion. The race is still open to runners from all over the world. While the Africans will run as their countries' representatives, the others will participate as individuals."

Hill said the proposal to make the race an African championship had been sent to the African Athletic Confederation and the International Association of Athletics Federations for approval.

He said, "Once we get these approvals we'll begin preparations. I'm confident these ruling bodies can see our vision and they will let us go ahead with our plans."

Imoke also promised to introduce new races to the main race. The children's race and the media race were run on Saturday.

Matthias Offodile

December 2nd, 2008, 11:57 PM

Togo qualifies for debt relief

afrol News, 2 December - Togo has been approved for debt relief under enhanced Heavily Indebted Poor Countries, after reaching a decision point under the initiative.

The statement by the International Monetary Fund said Togo will receive interim debt relief from certain creditors as a result.

However, the fund's board said in order for Togo to qualify for irrecoverable relief, it is expected to prepare a Poverty Reduction Strategy Paper and satisfactorily implement it for a year and implement broad reforms to show commitment to poverty reduction.

The IMF statement further said Togo will have to implement key structural and social reforms, including in the areas of economic governance and debt management, under IMF and IDA-supported programmes anchored in the government's Poverty Reduction Strategy.

"In addition to HIPC debt relief, Togo will access relief under the Multilateral Debt Relief Initiative when it reaches the HIPC completion point. This will further increase the resources available to the government in order to reduce poverty," the statement said.

The IMF Deputy Managing Director Takatoshi Kato said Togo has made significant progress on political and economic reforms, and has regularised its relations with key development partners.

"Performance under the new IMF's Poverty Reduction and Growth Facility arrangement has been commendable, despite the adverse impact of global price volatility and recent heavy flooding in Togo," he said.

He however said external conditions are likely to remain challenging owing to the global downturn caused by the financial crisis, further stating that macroeconomic stability, supported by sound fiscal policies and important public financial management reforms, has enabled Togo to reach the decision point for debt relief.

"Prudent macroeconomic policies, sound debt management, the delivery of HIPC and MDRI debt relief, and a further increase in concessional donor support will be critical for achieving debt sustainability and setting the conditions for higher economic growth and a reduction in poverty," the IMF statement said.

The World Bank Country Director for Togo Madani M. Tall, also added: "We are happy that Togo has moved rapidly to the Decision Point following re-engagement with key donors."

He said Togo is expected to rapidly meet the requirements for the Completion Point so as to benefit from the full debt relief programme.

Under the HIPC programme, Togo is continuing its commitment to improve governance, strengthen debt management capacity, foster transparency in public financial management and strengthen social sector programmes, as reflected in the completion point triggers.

Togo is among the poorest countries in the world, with a gross national income (GNI) per capita of US$360 in 2007.

Matthias Offodile

December 3rd, 2008, 12:04 PM

Second biggest oil and gaz distributor in Gabon is a 100% local private Gabonese company aiming to become NO.1 in the country . It was created in 2001:cheers:

Gabon : Petro Gabon étend sa marque à Owendo

Le second distributeur de produits pétroliers à l’échelle nationale a procédé le 28 novembre à l’ouverture de sa seizième station service, implantée dans la commune d’Owendo, à la périphérie de Libreville, grâce à un financement de la Banque gabonaise et française d’investissement (BGFI-Bank). Le coup de pouce de cette banque ainsi que les facilités accordées par l’Etat gabonais ont également permis à Petro Gabon de lancer la réhabilitation du siège social, l’aménagement d’un canal d’évacuation des eaux ou encore la construction d’un parking pour les transporteurs suburbains.

© D.R.

Un mois après l’implantation de sa dixième structure à Port-Gentil, le distributeur gabonais de produits pétroliers, Petro Gabon, a procédé le 28 novembre dernier à l’inauguration de leur seizième station service, implantée à Owendo.

C'est sur financements de la BGFI-Bank et en partenariat avec l’Etat, Petro Gabon a construit cette double station et ses annexes commerciales pour un montant total de plus de 3 milliards de francs CFA. Elle présente des capacités de stockage de 120 000 litres pour l’essence sans plomb, le gasoil et le pétrole. Les annexes commerciales devraient abriter des agences commerciales BGFI-Bank, Western Union-BGFI-Bank, BICIG, Ogar Vie, Gabon Télécom-Libertis, BGD ainsi qu’un salon de thé restaurant.

Ces fonds ont également permis de lancer la réhabilitation du siège social de l’entreprise, la construction d’un canal d’évacuation des eaux pluviales de plus de 500 mètres jusqu’à la rivière Lowé ; l’aménagement d’un parking de 2 350 m² mis gratuitement à la disposition des transporteurs suburbains pour fluidifier le trafic et sécuriser la voie publique, ainsi que le renforcement de la voie dégradée de la bretelle de sortie du sens giratoire de la zone de la maternité Joséphine Bongo, afin de désengorger le trafic routier.

Donnant la portée de ces aménagements pour le développement socio économique du pays, Jean Baptiste Bikalou a rappelé que «du fait des profondes mutations économiques que cette crise va engendrer, nous constations que chaque pays, y compris les plus orthodoxes en matière de libéralisme économique, s’organise pour permettre à ses entreprises de pouvoir résister au mieux à cette crise financière internationale».

Dans cette perspective, l'Etat gabonais doit s'investir aux cotés de ses entreprises pour leur permettre de faire face aux effets négatifs de cette conjoncture.

L'appel du pied de Jean Baptiste Bikalou a-t-il été entendu par le président du Sénat, René Radembino Coniquet, qui a inauguré la nouvelle station service et son complexe commercial en présence du président du Conseil économique et social, Antoine de Padoue Mboumbou Miyakou, du gouverneur de l’Estuaire, Nzé Thomas Debouillon, ainsi que de la mairesse d’Owendo, Jeanne Mbagou. Jusqu'ici, aucune instance de la République n'a bougé dans ce sens pourtant les effets de la crise sont perceptibles.

Créée en 2001, Petro Gabon a inauguré sa première station service en 2005 au quartier Okala, à la périphérie nord de Libreville, et a aujourd’hui déjà atteint le second rang sur le marché de la distribution de produits pétroliers au Gabon.

Publié le 02-12-2008

Mister79

December 3rd, 2008, 07:10 PM

'Nigeria is world's 8th fastest growing telecoms country'

http://www.afriquenligne.fr/news/africa-news/%27nigeria-is-world%27s-8th-fastest-growing-telecoms-country%27-2008120317406.html

Whiteeclipse

December 5th, 2008, 11:40 AM

China to increase investment in Africa to US$80 bln in 2008

China will increase its investment in Africa to US$80 billion this year, up from US$70 billion of 2007, the Zambia National Broadcasting Corp (ZNBC) reported.

China and Africa, especially Zambia, maintain strategic partners in trade relations, said Chai Zhijing, director in charge of West Asian and African Affairs in the Ministry of Commerce.

The Chinese government will support investments benefiting people in both countries, said Chai adding that the Chinese government has set up a credit facility, the China-Africa Development Fund, to help Chinese enterprises invest in various business sectors of Zambia.

Chai noted Zambia is a popular investment destination thanks to its abundant natural resources.

Analysts estimate China is likely to invest up to US$900 million in the copper mine of Zambia by 2010, as the country has been seeking more resources to bolster economic development.

http://www.chinaknowledge.com/News/news-detail.aspx?type=1&id=19486

Nobleskills

December 9th, 2008, 11:40 AM

Safaricom and Vodafone of the United Kingdom have partnered with Western Union to pilot a cross-border mobile money transfer service between the UK and Kenya.

The service that will use Western Union’s global hub for processing cross-border remittances, will allow customers to send money from select locations directly to Safaricom subscribers in Kenya.

The pilot project will take place through a number of Western Union agents based in Reading and Berkshire in the UK.

“The successful take-up of M-Pesa in Kenya has clearly demonstrated the demand for easily accessible, secure cash payment services in emerging markets,” said Mr Nick Hughes, Vodafone’s head of international mobile payments.

Mr Matt Dill, senior vice president, Western Union Digital Ventures said that in offering M-Pesa, users have the opportunity to receive funds from abroad for the first time.

“The three companies are changing the way money moves around the globe,” said Mr Michael Joseph, CEO Safaricom.

“International remittances form a significant part of the total income for some Kenyans, and the partnership with Western Union will provide Kenyans with an opportunity to receive small values of cash from abroad in a fast, safe and affordable way,” he added.

Kwame

December 11th, 2008, 06:49 AM

Zambia: Country Still Attractive Investment Destination
Lusaka - Government has said that Zambia still remains attractive as an investment destination with a sound and adequately capitalised banking system despite the global financial and economic crisis.

Finance Minister, Situmbeko Musokotwane said the presence of the Bank of China, which is one of the largest banking groups in the world with assets of over US$850 billion, stands as a testimony to the attractiveness and competitiveness of the Zambian economy.

Dr Musokotwane said during the opening of the Bank of China (Zambia) Limited new premises in Lusaka that the main priority for the Government now was to increase the level of foreign direct investment in Zambia and to diversify the economic base.

He said increased foreign investment in Zambia was expected to be one of the main drivers of the diversification, which was key to the country's continued economic growth.

He said economic diversification was the only sure way of insulating the economy against adverse economic shocks, such as the current sharp decline in world copper prices.

He, however, said Zambia faced a number of challenges on the road ahead, particularly as it sought to diversify its economy in order to safeguard economic gains achieved over the last few years.

The continued expansion and development of the Zambian banking system was an important step and that the Bank of China (Zambia) Limited was expected to play an important role.

He said the Ministry of Finance looked forward to working closely with the bank to achieve the objective and to attain the Government's broader vision of improving the lives of all Zambians.

He said the wider relationship between China and Zambia has been one of the key contributors to Zambia's economic progress over the last decade, spanning various sectors of the Zambian economy.

He said the contributions had not only come in form of foreign direct investment but technical assistance and knowledge sharing.

He said the bank had over the years made significant progress in Zambia and was serving as an important ambassador for Chinese investment, helping to attract significant levels of foreign investment into Zambia.

Speaking at the same function, Chinese Ambassador to Zambia, Li Qiangmin said 11 years had passed since the bank started operating in the country and he was happy that the bank had not only stood the test of time but made progress.

He said the Bank of China was the first Chinese financial institution to start operating in Zambia as well as in Africa and that reflected the long-lasting friendship between Zambia and China.

He said the bank had over the years attracted Chinese investors by providing services to them.

Bank of Zambia deputy governor-operations, Denny Kalyalya called on the bank to continue playing an active and effective role in stimulating economic activity through the provision of well-structured financial products and services.

Dr Kalyalya said this would in turn boost growth in key sectors of the economy as well as enhance access to finance and encourage more indigenous Zambians to establish relations with the bank.

AllAfrica (http://allafrica.com/stories/200812100389.html)

Matthias Offodile

December 13th, 2008, 10:44 PM

Marocco - Gabon relations (traditionally very strong)

Gabon : Le groupe marocain Attijariwafa Bank acquiert 59% du capital de l'Union gabonaise de banque

Un protocole d’accord a été signé entre le groupe Crédit agricole et Attijariwafa Bank (AWB), premier groupe bancaire et financier marocain, permettant à celui-ci d'acheter 59% du capital de l'Union gabonaise de banque (UGB), troisième banque commerciale du pays. La finalisation de cette opération, conditionnée par certaines procédures, interviendra au second trimestre 2009.

© D.R

Un protocole d’accord a été récemment signé entre le Crédit agricole français et Attijariwafa Bank (AWB) pour l’acquisition de 59% environ de la participation du Crédit agricole dans l’Union Gabonaise de Bank (UGB). La finalisation de cette opération interviendra au second trimestre 2009. Elle est soumise à l’obtention des autorisations nécessaires des autorités compétentes gabonaises et de l’institution de régulation, a indiqué l’administrateur général de l’UGB, M. François Hoffmann au quotidien gabonais "L'union".

Attijariwafa Bank est le premier groupe bancaire et financier du Maghreb. Classé au 7e rang africain, ce groupe bancaire marocain a acquis entre 51 et 95% des capitaux de banques du groupe français Crédit Agricole SA dans cinq pays africains comprenant le Gabon. Les autres pays africains étant le Congo (Crédit du Congo pour 81% du capital), la Côte-d’Ivoire (Société Ivoirienne de Banque pour 51% du capital), le Cameroun (Société camerounaise de Banque, 65% du capital) et le Sénégal (Crédit du Sénégal pour 95% du capital).

L’acquisition par Attitjariwafa Bank de la participation du Crédit Agricole S.A, traduit ses ambitions de rechercher de nouvelles opportunités sur les marchés à capitaux en zone franc. Pour l’administrateur/directeur général de l’UGB, il s’agit, de la poursuite d’une stratégie de développement définie par les deux groupes.

«Une opportunité s’est présentée à Attijariwafa Bank, qui cherchait à se développer en Afrique Subsaharienne. Et cette opération n’a rien à voir avec la crise du subprime intervenue aux Etats-Unis et qui a affecté le Crédit agricole. Pour assurer la transition, le management actuel et expatrié, accompagnera le transfert. Je vous avouerai que la transition sera lente et progressive.», a révélé François Hoffmann avant de souligner : «Aucune restructuration de la banque n’est envisagée car il s’agira de la poursuite du développement commercial de l’UGB.»

L’adossement au Groupe Crédit Agricole vient renforcer l’image et la solidité financière de l’UGB. Il devrait lui permettre de bénéficier d’un soutien technique et financier de tout premier plan.

Publié le 13-12-2008

Matthias Offodile

December 15th, 2008, 11:40 PM

Addax Petroleum announces acquisition in Gabon

CALGARY, Dec. 12 /CNW/ - Addax Petroleum Corporation ("Addax Petroleum"
or the "Corporation") (TSX:AXC and LSE:AXC), today announced that it has
acquired an additional 18.75 per cent interest in the Gryphon Marin license
area bringing its total interest in the license area to 68.75 per cent, prior
to third party back-in options. Addax Petroleum is the operator of the Gryphon
Marin license area.
Commenting today, Addax Petroleum's President and Chief Executive
Officer, Jean Claude Gandur, said: "We are pleased to build on our position in
this promising and vast license area. This additional interest in the Gryphon
Marin license area enhances our first-class exploration portfolio in Gabon and
demonstrates our commitment to strategic expansion in our core operating
regions. We plan to commence our exploration activities in Gryphon Marin with
the spudding of the Ajomba North and Pompano North prospect wells during the
first half of 2009."
The Gryphon Marin license area covers a gross area of approximately
2,409,200 acres (9,750 km(2)) and lies immediately west of the Iris Marin and
Ibekelia license areas, and immediately north of the Corporation's Etame Marin
license, offshore Gabon. Addax Petroleum holds a 51.33 per cent interest in
the Iris Marin license area and a 31.36 per cent interest in the Etame Marin
license area. The Gryphon Marin license area is in an exploration period
ending in November 2009 and carries a commitment to drill two wells. Addax
Petroleum has budgeted to drill the Ajomba North and Pompano North prospects
in the Gryphon Marin license area in the first half of 2009.

Nobleskills

December 16th, 2008, 07:18 AM

http://www.nation.co.ke/image/view/-/502810/highRes/55379/-/maxw/600/-/lsogf2z/-/SUB+3+PIX.jpg

President Kibaki (left) and Prime Minister Raila Odinga (right) are shown the new Nairobi Metro 2030 logo by Nairobi Metropolitan minister Mutula Kilonzo at the KICC on Monday. Photo/HEZRON NJOROGE
By ALPHONCE SHIUNDUPosted Monday, December 15 2008 at 21:59

In Summary

* Metropolis will introduce new trains as part of grand vision

A scheduled “smart” bus transport service to ply the city routes; a light rail transport system connecting all the major suburbs within Nairobi and a business park at the Jomo Kenyatta International Airport.

All these are part of a grand plan to transform the city of Nairobi into a major regional business and tourism hub.

The plan, known as the new Nairobi Metro 2030 Strategy, was launched in Nairobi on Monday in Nairobi.

Universities

It seeks to build new local universities and satellite campuses of world-class universities in America and Europe as part of a plan to build a Sh2.2 trillion higher education market that will attract students from all over the world.

The plan envisages a vast metropolis extending all the way to Limuru, Machakos, Ruiru, Kangundo, Thika and as far as Namanga on the Kenya-Tanzania Border.

The minister for Nairobi Metropolitan Development, Mr Mutula Kilonzo, says the entire plan will cost Sh33.2 trillion.

However, he did not make it clear how this money is to be raised considering that Kenya’s Budget for the current financial year is about Sh700 billion.

At that rate, it could take the country 47 years to realise this dream, using all the money meant for the national Budget. But then, Mr Mutula is seeking to achieve the dream city status by 2030 — 20 years from now.

The vision for the city has exceeded the earlier goal of restoring Nairobi’s reputation as “the green city in the sun”. The new goal is to make Nairobi “a world-class African metropolis.”

Key goals

Among the key goals of the strategy is for Kenya to host the All Africa Games in 2015 and the Commonwealth games in 2018.

The ambitious plan aims to create 100,000 new jobs by 2012 by tapping into the fast-growing Information Communication Technology sector.

In terms of business investments, Sh133 billion is required to automate the traffic management system and develop infrastructure.

The Nairobi River will also be cleaned up as part of a broader campaign to reduce pollution and protect the environment.

The Nairobi Metropolitan region covers 15 local authorities among them Thika, Machakos, Tala-Kangundo, Limuru, Kiambu and Ol Kejuado. Others are Masaku, Ruiru, Kikuyu, Karuri, Mavoko and Nairobi itself.

Addressing the public during the launch, President Kibaki asked local authorities to manage their revenue more prudently.

“It will be necessary to place these local authorities under a common Nairobi Metropolitan governance framework,” he said.

You are to blame

December 17th, 2008, 07:17 AM

DRC faces economic crisis
16/12/2008 09:31 - (SA)

Charlotte Plantive

Kinshasa - Unlike the glaring battles that rage in the eastern Democratic Republic of Congo, the country's economic crisis is more camouflaged but potentially just as potent.

On Friday the Central Bank of Congo (BCC) said economic growth had fallen by 2.7% between July and October and lowered its annual growth forecast from 11% earlier this year to 5.9%.

DR Congo is home to 34% of the world's cobalt reserves - essential for mobile phones - and 10 % of the world's copper supplies. It is also rich in tin, gold, diamonds and uranian.

But since copper has lost 75% of its value since July, diamonds 40% , while cobalt has plummeted to a fifth of its price.

The collapse in commodity prices risks "making our economy more vulnerable than beforehand," President Joseph Kabila told parliament on Saturday.

Miners contracts

Added to this, there are fears over his government's plans to renegotiate miners' contracts allocated at the start of the 2000s.

Major mining companies operating in DR Congo have seen profits and their share prices collapse over the past year and drastically cut production.

Last week Australian company Anvil Mining said it was suspending copper production and shutting its Dikulushi mine in southeast Congo due to low world demand. South African diamond giant De Beers also plans to stop exploration in the country.

Workers, traders and merchants in the mining sector face a stark future.

In the largest mining region, Katanga in the southeast of the country, there are already "200 000 extra unemployed people and the figure will rise to 300 000 or 350 000 by the end of the year," said Katanga province mining minister Barthelemy Mumba Gama.

"The mines are the engine of development and all the other occupations orbit around it," he said, adding that Katanga is grinding to a halt with its shops, restaurants and the airport all empty.

A similar fate confronts the diamond rich Kasai-Occidental province in central Congo where "production has fallen to a very low level," according to the president of the provincial assembly Francois Kabala.

Increased begging

"The consequences are visible to the naked eye," he said, adding that in the provincial capital, Mbuji Mayi, begging has increased and residents were starting to sell belongings on the street.

The export collapse has seen the amount of foreign currency entering the country shrink and caused the Congolese franc to lose 20% of its value against the dollar.

In spite of this, President Kabila urged people not to be "discouraged".

His government has unveiled a draft budget for 2009 of more than $5bn (€3.7m) - a 40% increase on this year's budget - based on a growth rate of 9.0%.

But the government, already bogged down in an expensive battle against rebel leader Laurent Nkunda's in the east, may find it hard to fulfil the ambitious budget, which the opposition attacked as "unrealistic".

"In two months, the Congolese state has run out of money to pay its civil servants," said a diplomatic source who did not want to be named.

He added that President Kabila faces "a catastrophe" as the country's financial crisis threatens "to cause an already fractious social situation to explode".

More than 75% of the country's population lives on less than a dollar a day and DR Congo ranks 167th out of 177 on the UN Human Development Report - the world wealth list.

http://www.news24.com/News24/Africa/News/0,,2-11-1447_2442501,00.html

buhera

December 18th, 2008, 08:18 PM

Zimbabwe's biggest platinum mine, Zimplats, on Tuesday warned its survival was under threat and expected significant losses due to the fall of metals on the international market.

"Shareholders are advised that due to the significant fall in metal prices since mid-July, your company's short-term viability and survival are under serious threat," Alex Mhembere, Zimplats CEO said in a statement to shareholders.

"Shareholders are further advised that despite the cost-saving and cash-preservation measures being implemented, it is forecast that your company will record a significant loss and cash shortfall for the half-year to December 31 2008."

Mhembere added that unless there was a "significant ... dramatic recovery in metal prices, the same would apply for the year to June 2009".

He said due to the "volatile market conditions", Zimplats was not able to generate sufficient cash to meet its ongoing operational, needs as well as the requirements for the Ngezi Phase 1 expansion project, which was now at a critical stage.

Mhembere did not, however, warn of any possible job losses at the mine, which is listed on the Australian Stock Exchange.

Last month, the country's biggest gold mine shut down five mines across the country, resulting in 5 000 people losing jobs as a result of failure by the state to pay for yellow metal delivery.

The yellow metal has traditionally been one of Zimbabwe's main foreign-currency earners, but the mining sector has been crippled in recent months by power cuts and shortages of foreign currency needed to maintain equipment. -- AFP

http://http://www.mg.co.za/article/2008-12-16-zimplats-says-survival-under-threat

Alex Roney

December 18th, 2008, 11:05 PM

Wow, holy crap Congo's growth got cut in half.

DanteXavier

December 18th, 2008, 11:17 PM

Angola: Oil exports to increase at the beginning of 2009

London, United Kingdom, 18 Dec – Angolan oil exports are expected to increase at the beginning of 2009 to close to the quota set by the Organisation of Petroleum Exporting Countries (OPEC) of 1.9 million barrels per day.

Figures published Wednesday by the oil companies operating in Angolan showed that exports would total 1.88 million barrels per day in February 2009, the shortest month of the year.

Against January, when exports are expected to total 1.84 million barrels, the February figures show a rise of 40,000 barrels per day.

The projection for the next month points to a reversal in the downward trend in exports, which in December was 6 percent, reflecting production cuts imposed by OPEC in order to try to reverse the fall in oil prices on the international market.

In the middle of this year Angolan exports reached slightly above the OPEC quota at 1.91 million barrels per day, ahead of what has traditionally been Africa’s biggest oil producer, Nigeria.

Angolan production rose 18 percent last year, to a daily average of 1.61 million barrels, according to figures from the International Energy Agency (IEA). (macauhub)

http://www.macauhub.com.mo/en/news.php?ID=6602

BUTEMBO21

December 19th, 2008, 12:14 AM

Wow, holy crap Congo's growth got cut in half.

We're screwd.

briker

December 19th, 2008, 02:32 AM

Africa's Steel output plunges.
Dec 18 2008 15:41

Johannesburg - South African crude steel production plunged 40.4% from 795,000 tons in November 2007 to an estimated 474 000 tons in November 2008, the World Steel Association (WSA) reported on Thursday.

Releasing November crude steel production data, WSA said South African crude steel production for the 11 months to end November 2008 declined 3.9% to 8.08 million tons from 8.41 million tons for the same period the year before.

African output fell 35% year-on-year in November to 1.03 million tons and 4.3% in the 11 months to end November to 16.19 million tons.

Of the African countries reporting to WSA, Zimbabwe recorded the steepest decline in production in November with its output slipping to zero from 1 000 tons in November last year.

Morocco recorded the second steepest decline in production in November with that country's output falling 87.3% year-on-year while Algerian crude steel production dropped 46.6% and Egyptian production slumping 25.9%.

African crude steel production falls reflect the trend seen in the global crude steel industry where most producers are slashing output to cut costs and prepare for further decreases in demand.

WSA said world crude steel production for the 66 countries reporting to the association was 89 million tons in November - 19% lower than the same month last year.

Total world crude steel production was 1 224.6 million tons in the first 11 months of 2008, a 0.9% increase over the same period in 2007.
WSA's data shows crude steel production falling across the board with very few exceptions.

Highest increases in November production were reported by Croatia, which showed a significant 93.3% jump; Cuba with a 26.6% climb in output and Canada, where production increased 15.2%.

The largest decline in production was, however, reported by the Commonwealth of Independent States where output tumbled 43.1%, and after Africa with its 35% fall in output, North America lost a significant 30.4% of its production in November.

European Union countries reported a 24.8% fall in the amount of crude steel manufactured while Asia recorded an 11.4% drop.

China's crude steel production for the month was 35.2 million tons, a decrease of 12.4% on November 2007.
In the first 11 months of 2008, China produced 463 million tons of crude steel, an increase of 2.6% compared to the same period in 2007.

- I-Net Bridge

Kwame

December 19th, 2008, 06:54 AM

U.S.$2.6 Billion Investment for Bong Mines
18 December 2008

Monrovia - Barely a week following the arrival of Seaboard Corporation with an initial investment of US30million, another company has arrived in the country with a huge investment package.

A Chinese company, China Union Investment Company, Limited has arrived in the country with an investment of US$2.6 billion believed to be the largest investment under the administration of President Ellen Johnson-Sirleaf.

China Union Company Limited is expected to invest in one of Liberia's most prosperous site, the Bong Ranges, formerly operated by the Bong Mines Company (BMC). The Chinese company recently successfully won a bid to operate Bong mines with a very high score.

Speaking yesterday at the National Investment Commission (NIC) offices where a team of government negotiators and a high powered delegation from the China Union Company held their first meeting, NIC Chairman, Dr. Richard V. Tolbert described the US$2.6 billion investment project as very important to the government of Liberia.

Dr. Tolbert said the investment project is the largest to come to Liberia since the inception of the Unity Party government headed by President Sirleaf. He said the coming of the investors to invest such huge amount in Liberia that is just emerging from a devastating civil unrest is a clear manifestation of the level of trust and interest the international community has in Liberia.

"This will be a substantial project and a long time future for our nation. Your presence here today indicates your interest in Liberia. You won the bid based on transparency and you won 99% out of 100%," the NIC boss averred.

He said if the negotiation that is ongoing between the company and the Liberian government goes well the project will be implemented in 2009 and in five year's time, China Union will create about 3,000 jobs for Liberians.

Presenting a graphic description of the investment project, the Chief Executive Officer (CEO) of China Union, Mr. Yin Fuyou disclosed that his company will construct a 130MW Hydro Power Plant on the St. Paul River to supply electricity to Monrovia and other areas.

Mr. Yin who spoke through an interpreter noted that Bong Mines will be transformed with modern facilities including a residential area for employees of the company. He said the company will also create an agricultural site where rice and other crops will be planted.

China Union, according to Mr. Yin, will also build a park where livestock will be raised. He said the ore that will be extracted from the mountains of Liberia would benefit every Liberian as the company will be producing steel in the country.

Earlier, Labor Minister, Samuel Kofi Woods stressed the need for the creation of more jobs for thousands of Liberians who are jobless. Minister Woods said to create jobs is a major factor to economic growth and a boost for social economic development. The Labor minister and other ministers on the government's negotiation team lauded the Chinese Company for winning the bid and assured the company of government's support to its operation in the country.

AllAfrica (http://allafrica.com/stories/200812180599.html)

popa1980

December 19th, 2008, 12:10 PM

You see, 3000 jobs for a $2.6 billion proejct. Capital, not labour intensive!

buhera

December 19th, 2008, 07:49 PM

BUTEMBO21

December 19th, 2008, 08:36 PM

There are many projects like that in Africa the headline grabbing with big figures involved but just end up directly employing a few people.It is clear that a large part of Africa's population is reliant on agriculture yet in some countries these people do not even have legal title to the land that they claim is theirs and will find it difficult to borrow money against that land and build the basic blocks of an economy

These days many projects don't need to imploy mass people because of advanced technology .

About the LAND THING , i believe SOUTH AFRICA , NAMIBIA ,Zimbabwe are the ones that are in trouble.

And something else "Agruculture is fixed income". I personnaly choose Agruculture over almost if not all anything in the city.

buhera

December 19th, 2008, 08:47 PM

These days many projects don't need to imploy mass people because of advanced technology .

About the LAND THING , i believe SOUTH AFRICA , NAMIBIA ,Zimbabwe are the ones that are in trouble.

And something else "Agruculture is fixed income". I personnaly choose Agruculture over almost if not all anything in the city.

I saw this documentary commanding heights were a Tanzanian coffee farmer bought land but had no legal title to it, if other countries have this then its fine because in Zimbabwe the government simply took over what were the Tribal Trust Lands and can move people at their whim , even with the repossessed land the farmers only got 99 year leases that are not transferable and there are many cases of people being evicted of those farms by ZANU affiliated people. i am not sure agriculture is fixed income because those prices vary and the yield can be affected by other factors

BUTEMBO21

December 19th, 2008, 09:11 PM

I saw this documentary commanding heights were a Tanzanian coffee farmer bought land but had no legal title to it, if other countries have this then its fine because in Zimbabwe the government simply took over what were the Tribal Trust Lands and can move people at their whim , even with the repossessed land the farmers only got 99 year leases that are not transferable and there are many cases of people being evicted of those farms by ZANU affiliated people. i am not sure agriculture is fixed income because those prices vary and the yield can be affected by other factors

The Tanzanian issue is only a minor incident, the masses own the land.

As to Zimbabwe's ZANU, it's just a mess.
As South Africa , Namibia LANDS are just crap .people don't own the land, it still in the hands of former colonials masters.

But other countries the masses own the land.

Lydon

December 19th, 2008, 11:18 PM

The Tanzanian issue is only a minor incident, the masses own the land.

As to Zimbabwe's ZANU, it's just a mess.
As South Africa , Namibia LANDS are just crap .people don't own the land, it still in the hands of former colonials masters.

But other countries the masses own the land.

Oh please...go take your sensationalist nonsense somewhere else. Zimbabwe is a perfect example of what happens when you take wealth and attempt to redistribute it without allows nature to take its course and wealth to distribute itself over time, as we are doing here.

BUTEMBO21

December 20th, 2008, 10:11 AM

Oh please...go take your sensationalist nonsense somewhere else. Zimbabwe is a perfect example of what happens when you take wealth and attempt to redistribute it without allows nature to take its course and wealth to distribute itself over time, as we are doing here.

Nature take it course? yeah ... as if Zulus , Xhosas,Sotos, Swazis and others who lost the land to the colonials, will magically walk to them them. Is that the nature you are are talking about or i just don't understand what nature is?
Why don't you explain what is that nature you are talking about?

As i said the intentions to redistribute the land was the right thing to do, but it was done the wrong way.

And why don't you explain why the UK signed the papers at the time Zimbabwe was getting independence at the LANCASTER HOUSE AGREEMENT.

The LAND was supposed to give back to the Zimbabwe natives in the 1980s, but thanks to the Imperialist UK , the Former colonial masters , the land can never be retuned to the rightful owners.

Creating the eveil-terrorist , aperthied -segregationtist society.
So far so you haven't proved what gives the whites the right to own lands they never buy.

Never in the history of Human beings you'll see a farmer sell his farmland.
Who doesn't know that the masses own the LAND in other countries?

I will be more than pleased to know other country where the Minority own the Land if it wasn't in Namibia and South Africa .

Lydon

December 20th, 2008, 01:57 PM

Nature take it course? yeah ... as if Zulus , Xhosas,Sotos, Swazis and others who lost the land to the colonials, will magically walk to them them. Is that the nature you are are talking about or i just don't understand what nature is?
Why don't you explain what is that nature you are talking about?

Nature taking its course involves those who were previously oppressed, in our case everyone non-white, slowly but surely obtaining wealth. It does work and it is working here as our black middle glass is growing rather nicely, as well as the number of non-whites entering the rich elite.

That is what nature I am talking about. And I can assure you, if someone so much as attempted to take away and redistribute land there is no way in hell the country would survive as people simply wouldn't roll over and accept their fate - at least not in this country. Thankfully the stupid land expropriation bill was thrown out of parliament earlier this year. At least some people have brains.

a_bondima

December 22nd, 2008, 06:10 AM

Sundance, Cameroon Agree to Develop $3.3 Billion Iron-Ore Mine
By Madelene Pearson

Dec. 21 (Bloomberg) -- Sundance Resources Ltd., seeking to proceed with a $3.3 billion iron-ore project in Cameroon, signed an accord with the West African nation to develop the mine.

Under the deal, the government of Cameroon can acquire a 15 percent stake in the Cam Iron SA unit, Perth, Australia-based Sundance said today in an e-mailed statement. The price for the stake will be equal to half the project cost before construction, the company said.

Sundance said it expects the mine to rank Cameroon among the 10 largest global exporters of iron ore when production begins in 2012. It will be the first major iron-ore development in the West African nation and the largest mining project undertaken there.

“Given the scale of the project and its potential to transform the Cameroon economy, the government has agreed to provide tax concessions, investment incentives and equity support to ensure the project is internationally competitive,” Sundance Chief Executive Officer Don Lewis said in the statement.

Sundance will seek ore buyers and financing partners following the accord, it said. The company targets staged annual output of as much as 50 million metric tons of the ore, a key ingredient in steelmaking.

You are to blame

December 22nd, 2008, 07:49 AM

Mozambique approves 5 pct budget increase to $4 blnReuters,
Sunday December 21 2008

MAPUTO, Dec 21 (Reuters) - Mozambique's parliament has approved a 5 percent increase in the 2009 annual budget to $4 billion as it boosts spending on education, health and infrastructure.

The southern African country will need to make up a 55 percent budget shortfall with tax increases as well as grants and soft loans from international partners, it said.

The budget was approved late on Saturday.

The government said tackling poverty was the top priority and spending would go mainly on education, health, infrastructure, agriculture, governance and public order.

A big chunk of money was earmarked for the recruitment of teachers, heath workers and police.

"The main goal of this budget is to reduce the percentage of people living in extreme poverty who are facing hunger, and to create decent employment for everyone," Prime Minister Luisa Diogo told parliament.

Mozambique, which has a population of about 20 million, aims to reduce poverty to 40 percent in 2015 from 45 percent now.

African countries such as Mozambique have been struggling with higher international food and fuel prices, which have eaten into already stretched government budgets.

Mozambique, one of the poorest nations on the continent, is battling to find the money to rebuild its dilapidated education and health-care system as well its road network, which was neglected during a 17-year civil war that ended in 1992.

Mozambique has had one of Africa's fastest growing economies in the region over the past decade but still relies heavily on donor aid. The government expects growth to slow to 6.7 percent in 2009 from a forecast 8 percent in 2008. (Reporting by Charles Mangwiro; Editing by Tomasz Janowski)

http://www.guardian.co.uk/business/feedarticle/8166652

DanteXavier

December 23rd, 2008, 04:45 AM

Moody's Upbeat on Botswana Despite End of Fast Growth Era

Moody’s Investors Service, in its annual credit analysis of Botswana, stressed the country’s financial strength but noted that the decades-long era of fast economic growth has likely come to an end there. Moody’s gave Botswana mid-level investment grade debt ratings of "A1/A2."

"The global financial crisis had not taken much of a toll on Botswana," said Kristin Lindow, a Moody's senior vice president in the Sovereign Risk Group. She explained, however, that given the country’s reliance on exports, and diamonds in particular, the recent collapse in commodity prices due to the global recession will likely have a dampening effect on development and exploration in the country.

Driven largely by the diamond industry, which account for approximately two-thirds of Botswana’s exports and nearly half of its government spending, Botswana’s economy has averaged a 5 percent GDP growth over the past six years, according to the World Bank. Keith Jefferis, former deputy governor of theBank of Botswana and currently the managing director of Econsult Botswana, recently told Rapaport News that strong diamond sales at the beginning of the year would make up for the slump seen towards the end of 2008. The government has accumulated a financial surplus from which it can draw to keep spending at budgeted levels in the short term, he said.

Similarly, Lindow maintained that the extent to which Botswana’s economy is affected by the global recession will depend on the length of the global slowdown. She noted, though, that for now the government had managed its income from diamonds “with a view to long-term economic and social development as well as recognition of the need to diversify the economy towards other sources of growth given the finite nature of the diamond deposits.”

Lindow explained that the main risks to Botswana's rating "are posed by regional problems stemming from the political/economic crisis in Zimbabwe or, much less likely, in South Africa, as well as the high incidence of HIV/AIDS and still-high levels of poverty and unemployment. However, the likelihood that these risks would lead to multi-notch rating downgrades is seen as low because of the solid institutional underpinnings of the government as well as the popular consensus behind the economic policy framework,” she added.

http://www.diamonds.net/news/NewsItem.aspx?ArticleID=24619