Africa Business News

Southern Africa: Realising Trade in Virtual Water
Fri, 30 Jul 2010 19:30:12 GMT
The vegetables Omphemetse Monyi sells at the Francistown bus rank come from 400 kilometres away in South Africa. One approach to development might seek to replace her suppliers with local farmers, but Southern Africa's water managers are considering the merits of reinforcing a regional trade in "virtual water".

Nigeria: Grounded by Graft 50 Years After Independence, Says Waziri
Fri, 30 Jul 2010 20:03:07 GMT
Chairman of the Economic and Financial Crimes Commission (EFCC), Farida Wazirir, has regretted that Nigeria has performed very badly, 50 years after Independence, because of the crippling effect of corruption and other related vices.

Kenya: Claim Disputed that Trade Measures 'Aid' Counterfeiters
Fri, 30 Jul 2010 19:30:23 GMT
A major pharmaceutical company in Kenya alleges that special trade measures to make medicines available in poor countries create "loopholes" for counterfeit medicines to enter the market - a claim that health rights advocates refute.

Kenya: Railways Pensions Scheme on the Spot
Fri, 30 Jul 2010 21:51:37 GMT
The troubled Kenya Railways Staff Retirement Benefits Scheme has been put on notice over poor management of pensioners' funds.

Liberia: Company Assist in Roads and Bridges Construction
Fri, 30 Jul 2010 21:51:23 GMT
As the transformation of Liberia, after several wasted years blamed on war and poverty, is taking center stage with the help of the international community, Liberian themselves are seizing the moment to bath their fronts as others are bathing their backs, helping in the area of roads and bridge construction, health and sanitation operations and many other projects geared toward assisting the government with its development agenda and giving the country a better facelift.

Liberia: Bailey Makes More Bribery Claims
Fri, 30 Jul 2010 21:51:21 GMT
Grand Gedeh County Superintendent Christopher Beh Bailey has made fresh allegations of bribe solicitation against Auditor General John Morlu and Chief Lieutenant Philip Massaquoi and vowed not to face GAC because it was incapable of rendering justice in matters related to audit observations and auditees' response.

Liberia: World Bank Tables U.S.$63 Million
Fri, 30 Jul 2010 21:51:17 GMT
The World Bank has provided US$63 million grant to the government of Liberia for the implementation of Employment and skills projects in the country.

Zimbabwe: SEC Surprise - Fees and a Raft of Changes
Fri, 30 Jul 2010 21:39:18 GMT
AT A Securities Commission of Zimbabwe (SEC) workshop in the capital a week ago, CEO Alban Chirume had a few surprises for the market -- new fees and a hell of a lot of new changes.

Zimbabwe: Country Needs U.S.$264 Million for Grain Imports - CFU
Fri, 30 Jul 2010 21:39:17 GMT
ZIMBABWE will need about US$264 million to import about 800 000 tonnes of maize and 339 000 tonnes of wheat to meet the annual national requirement, a union representing commercial farmers said on Wednesday.

Zimbabwe: Hopes Buoy Local Bourse
Fri, 30 Jul 2010 21:39:16 GMT
STOCKS at the ZSE rose in the first two days of trade this week buoyed by hopes that listed companies will be spared from the Indigenisation Act; a proposed investment policy announced last week; and improved financial results expected on the market soon.

Zimbabwe: Shares Leave Masiyiwa Whistling Merrily
Fri, 30 Jul 2010 21:39:16 GMT
ECONET Wireless founder Strive Masiyiwa is smiling even more broadly this year -- Econet stock went up 400% from last year when the stock market re-opened.

Zimbabwe: Tobacco Sales Exceed U.S.$300 Million
Fri, 30 Jul 2010 21:39:14 GMT
MORE than US$300 million worth of tobacco has gone under the hammer at the country's two auction floors since the start of the marketing season in February as the golden leaf increases its contribution to the economy.

Eritrea: Development Projects in Nacfa Continue to Gain Momentum
Fri, 30 Jul 2010 21:26:40 GMT
Development projects in 2010, including the construction of schools, renovation of roads, as well as soil and water conservation in Nacfa sub-zone continue to gain momentum, Mr. Desie Zemichael, head of Administration and Finance in the sub-zone, disclosed.

Eritrea: Newly Constructed Dam in Dekemhare Inaugurated
Fri, 30 Jul 2010 21:26:37 GMT
A dam constructed in Dekemhare, Adi-Tekeleizan sub-zone, at a cast of about 4.7 million Nakfa has been inaugurated. The dam with a capacity of holding 450,000 cubic meters of water is expected to put under cultivation 35 hectares of land lying beneath it, according to Eng. Tefahanes Eyob, in charge of the project, from Rodab Construction Company.

South Africa: Swiss Confederation Seal Energy Agreement
Fri, 30 Jul 2010 19:56:41 GMT
South Africa and the Swiss Confederation have signed an energy efficiency agreement which will see a major boost to the country's climate mitigation programme.

Kenya: NSE Rallies Ahead of Voting
Fri, 30 Jul 2010 19:51:47 GMT
The Nairobi Stock Exchange on Friday sustained a bullish run ahead of the August 4 vote on the proposed constitution.