Trade and Investment

Nigeria embarks on vast free trade zone with China

Thursday, 02 September 2010 14:41

Nigeria is building a multi-billion dollar free trade zone with Chinese investors on the edge of its commercial capital Lagos to try to develop a local manufacturing base and help reduce its import dependence.

(1 Vote)

Tags: Lekki Free Zone - free trade zone - manufacturing - China - Lagos - Lekki Free Zone Development Co - Adeyemo Thompson - Nigeria

African agricultural finance under the spotlight

Wednesday, 01 September 2010 15:28

Africa is turning into a fashionable post-crisis investment destination as investors regain their confidence and start to focus on the continent's lack of direct involvement with the global market's volatility drivers and trouble hotspots.

(3 Votes)

IFC sub Saharan Africa 2010 investments up a third

Tuesday, 31 August 2010 15:05

The World Bank's investment arm on Tuesday said its investments in sub Saharan Africa rose by a third to $2.4 billion in its 2010 fiscal year and forecast further growth this year.

(1 Vote)

Tags: World Bank - International Finance Corporation - Jean Philippe Prosper - investment - Aga Khan Fund for Economic Development - Air Burkina - Air Mali - AIr Uganda - sub-Saharan Africa

Rwanda investments double to $1.6 billion in 2009: government

Tuesday, 24 August 2010 14:26

Investment in Rwanda doubled to $1.6 billion in 2009, a year after the tiny central African country was named top global business reformer by the World Bank, a government official said on Monday.

(1 Vote)

Tags: World bank - financial reforms - foreign direct investment - Investment Climate Assessment - Clare Akamazi - electricity - Coletha Ruhamya - Rwanda

Egypt sees increase in non-oil exports

Thursday, 19 August 2010 14:47

Egypt's non-oil exports rose 20 percent to 29 billion Egyptian pounds in the second quarter of 2010 compared to a year earlier, the trade ministry said on Thursday.

(2 Votes)

Tags: Export - non-oil goods - Rachid Mohamed Rachid - tourism - Suez Canal receipts - remittances - Egypt

Nairobi Exchange to set up small-, mid-cap segment

Tuesday, 17 August 2010 14:40

Kenya's Nairobi Stock Exchange (NSE) plans a segment for small- and mid-capital companies within the next year and targets admitting 100 new firms to the bourse by 2015, an exchange executive said on Tuesday.

(3 Votes)

Tags: Nairobi Stock Exchange - small companies - mid-capital companies - Peter Mwangi - Kenya constitution - Kenya

West Africa beckons as gold price hold shine

Thursday, 12 August 2010 18:42

Junior gold miners with assets in West Africa are becoming more alluring acquisition targets for their larger rivals as near-record high bullion prices fire up a race within the industry to expand.

(1 Vote)

Tags: West Africa - gold - gold output - mining - GFMS - Semafo - Golden Star - EgiIo Bianchini - BMO Capital Markets & Metals group - Ghana - Mali - Guinea - Burkina Faso - Mauritania - Cote d'Ivoire

Zambia sees bright future for copper mining

Tuesday, 10 August 2010 17:55

Zambia, Africa's leading copper producer, said on Tuesday that it expects a strong performance by the mines over the long-term due to rising metals prices and has urged mineworkers' unions to support new investors.

(2 Votes)

Tags: Copper mining - Maxwell Mwale - Vale - Zambia

Japan sponsors rice research hub in East Africa

Tuesday, 10 August 2010 17:30

Uganda hopes to become the region's leader in rice research with the opening later this year of a US$6 million centre at its crop research institute.

(2 Votes)

Tags: Japan - rice - National Crop Resources Research Institute - rice farmers - scientists - Geoffrey Asea - New Rice for Africa - Japan International Cooperation Agency - Uganda

India signs $42 mln loan with Congo following debt relief

Friday, 06 August 2010 14:55

India has signed a deal with Democratic Republic of Congo to extend a $42 million credit line for building a hydroelectric plant, Congolese and Indian officials said on Thursday.

(1 Vote)

Tags: India - credit - debt - UN - IMF - World Bank - investment - Democratic Republic of the Congo

World Bank unit leads big funds into Africa

Thursday, 05 August 2010 12:58

The private-sector lending arm of the World Bank is leading large government-owned wealth and state pension groups into frontier markets in Africa and elsewhere where few big investors have sought to venture.

(1 Vote)

Tags: World Bank - investing - funds - private-sector - lending - investors - Africa

East Africa looks towards single currency by 2012

Friday, 30 July 2010 15:24

With the East African Community Common Market Protocol now in effect, the region is looking to launch a single currency by 2012. Many hope the integration will break down economic barriers across the region.

(3 Votes)

Tags: East Africa - currency - trade - market - East African Community Common Market Protocol - Kenya - Rwanda - Tanzania - Burundi and Uganda - economy

Chalco, Rio Tinto formalise Guinea iron ore venture

Thursday, 29 July 2010 15:19

Aluminum Corp of China Ltd (Chalco) has agreed to invest $1.35 billion in a Guinea joint venture that partner Rio Tinto claims is the world's largest undeveloped iron ore deposit.

Africa and Brazil to cross-fertilise agricultural ideas

Wednesday, 28 July 2010 13:25

An ambitious development partnership aimed at strengthening agricultural collaboration between Africa and Brazil was launched at the 5th African Agriculture Science Week in Burkina Faso last week.

(1 Vote)

Tags: agriculture - Brazil - trade - knowledge - partnership - Africa

Paris Club cancels second wave of Seychelles debt

Tuesday, 27 July 2010 14:55

The Paris Club of creditors has cancelled a second tranche of debt owed by Seychelles to help the Indian Ocean archipelago get its debt on a sustainable footing, Seychelles said on Tuesday.

(1 Vote)

Tags: Paris Club - debt - relief - archipelago - IMF - Seychelles

Nestle to invest U.S.$138 million in new plants

Thursday, 22 July 2010 13:51

The Swiss food giant Nestle has announced that it will invest $138.32 million in East, Central and Southern Africa over the next three years to enhance its competitiveness in the food industry.

(1 Vote)

Tags: Nestle - Investment - Paul Bulcke - Malawi - Zambia - Democratic Republic of Congo - Mozambique - Kenya

Cereal export ban lifted in Ethiopia

Wednesday, 14 July 2010 16:10

Ethiopia has lifted a two-year ban on the export of cereals such maize and sorghum, following a good harvest which has led to surpluses, according to a government official.

(1 Vote)

Tags: Agriculture - cereal - maize - sorghum - wheat - teff - export - Amakele Yimam - UN World Food Programme - P4P - Ethiopia

West Africa happy for new cocoa deal

Wednesday, 07 July 2010 16:21

The new international cocoa agreement is set to provide a positive shake-up in the cocoa market and ensure better prices for stakeholders, including small farmers, say producers in Côte d'Ivoire and Ghana.

(1 Vote)

Tags: Cocoa - international cocoa agreement - Guy-Alain Emmanuel Gauze - UN cocoa conference - International Cocoal Organisation - Ghana - Côte d'Ivoire

Investec AM to triple Africa fund

Wednesday, 30 June 2010 13:18

Investec Asset Management aims to more than triple its African assets under management outside of South Africa to $10 billion over the next five years, a senior executive told Reuters on Monday.

(1 Vote)

Tags: Investec Asset Management - John Green - Fortune Global Forum - Zenith Bank - First Bank of Nigeria - Commercial Bank - Barclays Bank of Kenya - Dangote Sugar Refinery - East African Breweries - Kenya - Nigeria - South Africa

Coke says to double annual Africa investment

Monday, 28 June 2010 12:52

Coca-Cola Co plans to double its annual investment in Africa to $1 billion starting this year, to ramp up capacity on the fast-growing continent, the head of its South Africa unit told Reuters on Saturday.