Economy

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Ghana to reach 1 mln tonnes cocoa output next season

Wednesday, 01 September 2010 14:52

Ghana, the world's second-largest cocoa grower, could reach its target of producing 1 million tonnes of the main ingredient in chocolate next season - a year ahead of schedule - a senior official said on Tuesday.

(1 Vote)

Tags: Cocoa - output target - Yaw Effah-Baafi - Ivory Coast - Cocobod - Jubile oilfield - biofuels - Ghana

Standard Bank plans $100 mln farmers' funding

Monday, 30 August 2010 15:01

Standard Bank will provide $100 million to farmers in four African countries in the next three years to help boost agricultural production and economic growth, CEO for Africa Clive Tasker said on Friday.

(1 Vote)

Tags: Standard Bank - Clive Tasker - loans - small-hold farmers - agriculture - export crops - cocoa - cashew nuts - coffe - tea - horticultural crops - South Africa - Tanzania - Mozambique - Ghana - Uganda

Mauritius gets 30 mln euro EU grant to aid growth

Monday, 23 August 2010 13:26

The European Union (EU) on Monday said it had handed Mauritius a 30.2 million euro grant in direct budgetary assistance to help the Indian Ocean island's reforms towards becoming a high growth economy.

(1 Vote)

Tags: European Union - budgetary assistance - economic reforms - Alessandro Mariani - economic stimulus - Pravind Jugnauth - tourism - export - marcroeconomic stability - public finance management - Mauritius

Special Economic Zone to make Gabon competitive, provide jobs

Monday, 23 August 2010 12:52

A special adviser to Gabon's leader told VOA the construction of the Special Economic Zone (SEZ) forms part of President Ali Ben Bongo Ondimba's plan to make the country competitive and provide jobs to thousands of Gabonese.

(1 Vote)

Tags: Special Economic Zone - Ali Bongo - Soleman Liban - OLAM Internation - timber processing - job creation - Gabon

Ivory Coast eyes position as top cocoa grinder

Thursday, 19 August 2010 15:53

Ivory Coast is on track to become the world's top cocoa grinder in the next few years as the West African state seeks more value from its raw materials exports.

(2 Votes)

Tags: Cocoa - cocoa processing - SAF Cacao - Ali Lakis - SACO-Barry Callebaut - Ahmed Amer - Choco-Ivoire - Laurent Gbagbo - Ivory Coast

Ivory Coast to triple gold output by 2015

Monday, 02 August 2010 12:38

Ivory Coast will triple gold output by 2015 to about 20 tonnes per year as three new mines start up, including Randgold Resources' Tongon development, a government official told Reuters.

Tags: gold - increase - economy - growth - output - Cote D'ivoire

Egypt GDP to grow at least 6.5 pct this year: minister

Thursday, 29 July 2010 15:10

Egypt's gross domestic product (GDP) is likely to grow by at least 6.5 percent in the fiscal year that began on July 1, signalling the economy is back on track, the economic development minister said on Thursday.

(1 Vote)

Tags: GDP - growth - fiscal - growth - economy - Osman Mohamed Osman - Egypt

Africa funds return to winning ways: EPFR

Monday, 26 July 2010 12:24

Emerging and frontier equity funds in Africa returned to positive territory last week, attracting net inflows of cash after previously breaking a 44-week winning streak, fund tracker EPFR Global said.

Tags: Funds - Africa - growth - development - economy

Bullish about the agricultural future

Monday, 26 July 2010 11:57

Suddenly, after 20 years of relative neglect, African agriculture is a hot topic, with a substantial growth in production and a new interest among major donors in funding the sector.

Tags: agriculture - growth - food - security - sector - Africa

Rwanda sets path to middle-income future

Tuesday, 20 July 2010 13:03

Rwanda, racked by genocide over a decade ago, is investing in innovative agriculture, methane gas, fiber optics and ice tea in a bid to become a middle-income economy by 2020, its foreign minister told Reuters on Monday.

(2 Votes)

Tags: Innovative agriculture - methane gas - fiber optics - ice tea - middle-income country - ContourGlobal - Paul Kagame - East African Community - World Bank - Doing business report - Rwanda

Sierra Leone says China mine deal to kickstart economy

Monday, 19 July 2010 15:03

Chinese firm Shandong Iron & Steel's $1.5 billion deal this week to buy a stake in an iron ore mine in Sierra Leone has the potential to transform the West African country's economy, its mines minister said on Friday.

(1 Vote)

Tags: Shandong Iron & Steel - Economy - African Minerals - Tonkolili - Alpha Kanu - Sierra Leone

Global recession should spur transformation of African economies

Monday, 12 July 2010 14:57

The global recession should spur African nations to shift towards greater industrial capacities, improved infrastructure and expanded ties with regional partners and developing countries outside the continent, a senior UN official has stated.

(1 Vote)

Tags: Recession - United Nations - Supachai Panitchpakdi - UNCTAD - UNECA - Afrcan Union Commission - Rob Vos - Africa

Kenya house prices unscathed by global downturn, seen rising

Wednesday, 07 July 2010 16:51

Kenyan housing prices remained largely stable during the global downturn and political upheaval at home and are likely to grow steadily as the economy rebounds, a leading real estate agency said on Wednesday.

(1 Vote)

Tags: House prices - HassConsult - Jenny Luesby - investment - Mwai Kibaki - Kenya

Algeria wants tourists back to desert pearls

Tuesday, 06 July 2010 12:31

Algeria's Tourism Minister Smail Mimoune announces the construction of modern tourist facilities in the old Sahara desert destination Tassili. Tassili was a popular destination before the 1992 war.

(1 Vote)

Tags: Smail Mimoune - Tassili - Sahara - Djanet - tourism - investment - Algeria

Africa has $1.7 trillion potential wealth: study

Thursday, 01 July 2010 15:32

Africa has $1.7 trillion of potential wealth and production in areas such as agriculture, tourism and water, a study showed on Wednesday, pointing to new investment areas that stretch beyond commodities.

(1 Vote)

Tags: Africa Investor - The Africa Group - potential wealth - agriculture - tourism - water - McKinsey Global Institute - Africa

IMF, World Bank back $4.6 bln Liberia debt relief

Wednesday, 30 June 2010 13:53

The International Monetary Fund and the World Bank said on Tuesday they supported a $4.6 billion debt relief program for Liberia.

(1 Vote)

Tags: IMF - World Bank - Debt relief - Lael Brainard - Heavily Indebted Poor Countries Initiative - Paris Club - African Development Bank - Liberia

Tanzania 2011 GDP growth seen at 6.7 pct: IMF

Friday, 25 June 2010 11:36

Tanzania's economy is expected to grow by 6.7 percent in 2011, compared with an estimated 6.2 percent this year as the world economy recovers, the International Monetary Fund said.

Tags: GDP growth - IMF - Tanzania

Ivorian oil output may double in two years

Friday, 18 June 2010 10:34

Ivory Coast's crude oil production could double to 100,000 barrels per day within the next two years if a technical problem with its main field is solved, an official said this week.

(1 Vote)

Tags: Crude oil production - N'Dri Koffi - Extractive Industries Transparency Initiative - Canadian Natural Resources - Boabab field - Espoir Reservoir - Ivory Coast

Mega-spends on science promised for East Africa

Monday, 14 June 2010 18:46

A 30 per cent salary hike for Ugandan scientists and US$20 million for Tanzanian research were among the science highlights in the two countries' national budgets for 2010/11.

(3 Votes)

Tags: Science - Technology - Research and Development - Budget - Uganda Industrial Research Institute - Makerere University - Enterprise Uganda - COSTECH - Jakaya Kikwete - Kenya - Uganda - Tanzania - East Africa

Cup highlights Africa's bigger changes

Monday, 14 June 2010 09:40

From pulsating slums to the lavish mansions of the new rich, celebrations for the first World Cup in Africa also highlight a dramatic change driven by forces more powerful than football.

(3 Votes)

Tags: FIFA World Cup - investment - stock markets - Zain Africa - Bharti Airtel - Senegal - Nigeria - Kenya - South Africa

South Africa sees South-South trade opportunities

Wednesday, 09 June 2010 17:21

South Africa sees growing opportunities for trade with other developing countries as new economic powerhouses emerge and Europe is engulfed by economic and currency weakness, its trade chief said on Wednesday.