Trade and Investment

IMF to help Africa monitor gold, diamond sectors

Friday, 12 March 2010 13:49

The International Monetary Fund said Friday it will help 16 African nations trying to stop their gold and diamond sectors from being misused to fund terrorism.

Tags: International Monetary Fund - terrorism - gold - diamond - Emmanuel Mathias - Burundi - Central African Republic - Democratic Republic of Congo - Ivory Coast - Mali - Togo - Africa

West African farmers enter international organic food market

Wednesday, 10 March 2010 15:53

Nearly 5 000 West African farmers are now able to take advantage of the growing popularity of organic foods in industrialized countries thanks to a $2.4 million German-backed FAO programme that has helped them meet necessary certification and other requirements.

Tags: UN FAO - organic food - Germany - Cora Dankers - Burkina Faso - Cameroon - Ghana - Senegal - Sierra Leone - West Africa

China in talks to help build economic zone in Egypt

Wednesday, 03 March 2010 20:29

A Chinese state-backed entity is in talks to help build an investment zone in Egypt, a report said Wednesday, as the Asian giant seeks greater access to markets in Europe, Africa and the Middle East.

(3 Votes)

Tags: China - trade - development - investment - Europe - Asia - Egypt

Sao Tome invites offers for oil exploration

Wednesday, 03 March 2010 16:40

Authorities in tiny Sao Tome and Principe on Tuesday opened the tender process for exploiting oil reserves in the archipelago's waters.

Tags: Oil reserves - tenders - Rafael Branco - IMF - Sao Tome and Principe

Malawi, Zambia set for big US infrastructure aid

Tuesday, 02 March 2010 18:39

Malawi and Zambia are set to win hundreds of millions of dollars in U.S. infrastructure grants in the next two years due to steady improvements in the way they are run, U.S. aid officials said on Tuesday.

(1 Vote)

Tags: US - investment - infrastructure - MCC - Malawi - Zambia

Kenya: Country kicks out Sri Lanka as world leading tea exporter

Wednesday, 24 February 2010 12:26

Kenya has overtaken Sri Lanka to become the number one tea exporter in the world. Latest figures provided by the Tea Board of Kenya shows the country exported 342 million kilograms to 47 world markets, accounting for 22% of the world tea exports.

(3 Votes)

Tags: Sri Lanka - tea - Tea Board of Kenya - Sicily Kariuki - United Arab Emirates Trade and Symposium - Kenya

Morocco: WB doubles loans to $2.4bln

Thursday, 18 February 2010 14:55

The World Bank will double loans destined for Morocco to $2.4 billion through 2013, in a bid to assist the country's efforts in reducing mass poverty and spurring growth, Reuters said on Tuesday.

(1 Vote)

Tags: World Bank - loan - poverty - Nizar Baraka - investment - Morocco

Bharti confirms $10,7bn bid for Zain Africa assets

Monday, 15 February 2010 12:28

India's Bharti Airtel launched its third attempt to gain a foothold in Africa, entering exclusive $10.7 billion talks to buy most of Kuwaiti telecom Zain's cellular assets in a continent that offers the last opportunity for major subscriber growth.

(2 Votes)

Tags: Bharti Airtel - Zain - Africa - MTN - telecommunications - ICT - Sunil Mittal - Africa

Malawi approves extra $76 mln budget for drought woes

Tuesday, 09 February 2010 11:47

Malawi's parliament approved an 11.5 billion kwacha ($76 million) supplementary budget on Monday to aid families hit hard by a drought and support its new commitments after taking over the African Union chairmanship.

(2 Votes)

Tags: budget - drought - Ken Kandodo - AU - Bingu wa Mutharika - crops - money - Malawi

IFC invests $2 bln in sub-Saharan Africa 09/10

Thursday, 04 February 2010 16:40

The World Bank's private sector lending arm is investing more than $2 billion in sub-Saharan Africa in the 2009/10 fiscal year as investment opportunities improve, the lender's head said on Thursday.

(1 Vote)

Tags: World Bank - International Finance Corporation - IFC - investment - sub-Saharan Africa - Africa

Morocco to launch $2.5 bln high-speed train line

Tuesday, 02 February 2010 14:02

Morocco will start building a high-speed railway linking Tangier to its commercial capital Casablanca, the Transport Ministry said on Monday.

(1 Vote)

Tags: high-speed - rail - train - Casablanca - Tangier - upgrade - Morocco

Egypt to tender land for industrial development

Tuesday, 02 February 2010 13:38

Egypt's Industrial Development Authority (IDA) said on Monday it was tendering 42 million square meters of land to develop for industrial projects, the state news agency MENA reported.

Tags: Industrial Development Authority - MENA - Tenth of Ramadan City - Sadat City - Borg el-Arab - Amr Assal - Egypt

Libya free trade zone approved

Monday, 01 February 2010 13:49

Libya's main legislative body has approved a law setting up a free trade zone on the country's Mediterranean coast, Saadi Gaddafi, a son of Libyan leader Muammar Gaddafi, told Reuters on Sunday.

(2 Votes)

Tags: Free trade zone - Muammar Gaddafi - Saadi Gaddafi - foreign investment - tourism - Saif al-Islam - Basic People's Congresses - General People's Congress - Libya

BP to invest $10 billion in Egypt in next few years

Thursday, 14 January 2010 14:51

BP Plc will spend $10 billion in Egypt on gas and oil exploration activities over the coming years, its chief executive officer was quoted on Wednesday as saying.

(2 Votes)

Tags: BP - gas - oil - exploration - MENA - Tony Hayward - Ahmed Nazif - Sameh Fahmy - Egypt

Ghana gets €130 million from Germany

Wednesday, 13 January 2010 16:40

The German government has pledged €130 million to Ghana under its financial and technical cooperation for the period 2009 to 2011. The new pledge represents an increase of more than 60% in assistance.

(4 Votes)

Tags: German - Euro - million - technical - aid - development - oil - growth - stability - governance - Ghana

Mozambique approves Riversdale coal mine

Tuesday, 12 January 2010 13:30

The Mozambican government has given the green light to an Australian mining firm's plans to build an $800 million coal mine in the country's northwest, the company said on Monday.

(1 Vote)

Tags: coal - Australia - gocernment - mining - Tete - Riversdale - Vale - Benga - Mozambique

India boosts ties with Africa, expands credit lines

Monday, 11 January 2010 13:26

India will increase credit lines to Africa to $5,4-billion until 2012 from the current $2,15-billion, and will also boost technical and economic support to the continent, it said on Friday.

(2 Votes)

Tags: Africa - technical - economic - support - investment - Vice President - Mohammad Hamid Ansari

US reaffirms commitment to emerging African economies

Friday, 08 January 2010 09:54

The US Chamber of Commerce's Africa Business Initiative will embark on a five-day trade mission to encourage, promote, and facilitate trade and investment between the United States and the African continent.

(2 Votes)

Tags: US Chamber of Commerce - mission - trade - investment - US - Scott Eisner - Ghana - Africa

Irag, Angola's Sonangol strike deal over oil field

Tuesday, 15 December 2009 11:46

Angolan energy firm Sonangol said it reached agreement with Iraq on Saturday over the Qaiyarah field in northern Iraq. The firm will sign a preliminary contract with Iraq in two weeks.

(2 Votes)

Tags: energy - Sonoangol - oil - Iraq - Hussein al-Shahristani - Angola

Zambia Sugar to double EU exports in 3-4 years

Thursday, 10 December 2009 13:34

Zambia Sugar, the country's biggest sugar producer, said on Wednesday it would double annual sugar exports to the European Union to 200,000 tonnes in three to four years, benefitting from duty and quota free access.

(2 Votes)

Tags: Sugar - Zambia Sugar - Illovo Sugar - European Union - Jacob Zuma - South Africa - Zambia

S.Africa plans to invest $600 mln in Zambia

Wednesday, 09 December 2009 13:57

South Africa plans to invest $600 million in Zambia, Africa's top copper producer, to finance copper, agriculture and real estate projects in the next two years, Zambia's commerce minister, Felix Mutati said on Tuesday.