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Top Regional Business and Finance News
Uganda  STANBIC BANK UGANDA LIMITED (SBU) LISTS ON THE USE
Uganda Securities Exchange - 25 Jan, 2007
Trading today at the Uganda Securities Exchange witnessed the official listing of Stanbic Bank Uganda Limited, with its share price opening at Ushs 150 per share, oscillating to a high of Ushs 240 per share before closing the session at Ushs 205 per share. The counter recorded a total turnover of Ushs 4,718,169,
South Africa  3G introduction in SA could soon reduce phone bills
afrol - 18 Mar, 2005
Africa's biggest mobile phone operator MTN recently announced a multi-million dollar software deal with global billing firm Intec with the aim of launching 3G (third generation) mobile communications in South Africa. This deal is a significant win for many reasons - and not just for the companies involved. It could soon provide South Africans with cheap basic local calls.
Angola  Angola stock exchange to open this year
afrol - 21 Feb, 2005
The government of Angola has announced its plans to fast-track the planned opening of its Stock Exchange. Angola is one of the few countries in the Southern African region that still does not have its own stock market, despite the fact that the country is turning into one of the main economies of the region. The bourse is expected to boost investments in the country.
Cote dIvoire  Next West African cocoa harvest "without slave labour"
afrol - 14 Feb, 2005
West Africa's cocoa plantations have long been ill-reputed for their use of forced labour and child labour, giving chocolate a bitter taste. In 2001, however, the global chocolate and cocoa industry bowed into pressure and promised to improve the poor labour conditions, particularly in Côte d'Ivoire and Ghana. Already this year, monitoring and certificates are set to show results.
Angola  Volkswagen to build assembly plant in Angola
afrol - 04 Feb, 2005
Volkswagen and its Angolan partner ANCAR have announced that they are to build an assembly plant in the outskirts of Angola's capital, Luanda. ANCAR will invest US$ 48 million to build an assembly line for the production of VW and Škoda model vehicles, a central parts store, a training centre and an Angola-wide dealer network.
Ghana  Ghana's ICT sector is up to speed
afrol - 03 Feb, 2005
Despite competing against continental heavyweights South Africa and Egypt, Ghana managed to come out tops to the host of the Africa Regional Conference of the World Summit on the Information Society (WSIS), currently being held here in Accra. Ghana's accelerating communication technology sector had shown the way ahead.
Angola  Angola notes boom in cellphone use
afrol - 28 Jan, 2005
Two of Angola's main cellphone operators have announced that they more than doubled their client base in 2004. While the operators' revenues are also booming, they are planning for another doubling of their customers in 2005. The government, meanwhile, invests in telecom infrastructure to increase coverage.
Angola  First oil from Bomboco Field in Cabinda, Angola
afrol - 05 Jan, 2005
In an innovative operation offshore Angola's enclave Cabinda, ChevronTexaco today announced the first oil to be produced from the Bomboco Field. Bomboco is expected to become one of the region's main oil and gas producers within few years, but the population of war-ravaged and poverty-struck Cabinda are seeing nothing of these revenues.
 
Top Regional Economic News
Lesotho  Lesotho reviewing labour code
afrol - 17 Mar, 2005
The government of Lesotho is in the process of reviewing the country's controversial labour code, which currently favours investors rather than workers. Lesotho's Ministry of Employment and Labour has invited all stakeholders to participate in discussions, but the country's chronically weak trade unions are given little chance to influence the outcome.
Lesotho  Budget presented in Lesotho parliament
afrol - 18 Feb, 2005
Lesotho's budget for the 2005-06 fiscal year this week was presented in parliament. The budget foresees a higher tax threshold "to give a break to low income earners," decentralisation and other reform efforts and more spending on education and the HIV/AIDS pandemic.
Zimbabwe  IMF gives Zimbabwe another chance
afrol - 17 Feb, 2005
The International Monetary Fund (IMF), which threatened with the "compulsory withdrawal of Zimbabwe" one year ago, yesterday decided to give Harare authorities one last chance to avoid expulsion. The reconciling move by the IMF had come after Zimbabwe had made larger efforts to comply with the Fund's demand during the last year, including down-payments of US$ 16.5 million.
Egypt  Large ammonia plant in Egypt financed
afrol - 17 Feb, 2005
A large-scale new ammonia plant is to be built in Egypt's Suez Industrial Zone, further increasing the country's significant ammonia and fertilizer production and exports. American suppliers to the plant today achieved government guarantees to secure their investments here.
Ghana  Britain pays part of Ghana's debts
afrol - 15 Feb, 2005
The British government today announced its decision to pay US$ 79.9 million of Ghana multilateral debt between 2005 and 2015. The offer from London is extraordinary in the context of debt cancellation as the British government is taking responsibility over money not owed to London. Ghana's Finance Minister already has signed the agreement that transfers the debt to the UK.
Lesotho  Lesotho hopes for diamond mining investments
afrol - 11 Feb, 2005
The potential viability of Lesotho's Liqhobong diamond mine, currently under construction, "has sparked the interest of European investors," according to the government. Also the Letseng diamond mine, opened in November last year, is showing remarkable results.
Ghana  Ghana hails Japan's debt cancellation
afrol - 11 Feb, 2005
The recent cancellation of Ghana's US$ 1 billion debt to Japan was hailed as a landmark in bilateral relations by Ghanaian President John Agyekum Kufuor. The Japanese debt cancellation was the largest contribution to the reduction of Ghana's unsustainable foreign debt burden.
Zambia  Zambia notes higher than expected growth
afrol - 09 Feb, 2005
Economic growth in Zambia has finally hit the 5 percent benchmark, according to newly released statistics. The relatively high growth rate took government officials by surprise as they had only targeted a 3.5 percent growth rate for 2004 in their budget. This is the fifth year that GDP grows faster than the population, but social conditions remain difficult.
Angola  Angola's Cabinda has more onshore than offshore oil
afrol - 01 Feb, 2005
The Angolan exclave of Cabinda is already producing about one million barrels of crude oil daily from its offshore fields. It has the potential of producing even more oil from onshore reservoirs, according to an analyst. The independence war of the former Portuguese colony has until now hindered major onshore investments in Cabinda.
Morocco  Morocco-US free trade agreement implemented
afrol - 31 Jan, 2005
Just two weeks ago, the Free Trade Agreement (FTA) between the United States and Morocco completed its last hurdle - approval by the Moroccan legislature. Today, the Moroccan Ambassador to the US, Aziz Mekouar, leads a delegation to Houston (Texas, US) to meet with business and industry leaders to promote the agreement.
 
Top Press Releases
Uganda  BATU
British American Tobacco Uganda Limited - 12 Mar, 2007
Nigeria  UBA, BANK PHB AND OCEANIC TOP BANKING ACTIVITY
United Bank For Africa plc - 29 Dec, 2006
Nigeria  TransCorp Initial Public Offering Opens Today
Transnational Corporation of Nigeria Plc - 28 Dec, 2006
Nigeria  TRANSNATIONAL CORPORATION OF NIGERIA PLC (TRANSCORP)
Nigerian Stock Exchange - 22 Nov, 2006
Nigeria  DUNLOP SETS FOR CAPITAL MARKET
Dunlop Nigeria plc - 20 Nov, 2006
Other Regional Headlines
South Africa  SA opposition refused entry to Zimbabwe
afrol - 18 Feb, 2005
A so-called "fact-finding mission to Zimbabwe" by South Africa's main opposition party, the Democratic Alliance (DA), has been denied entry to the country. The mission was to investigate conditions in the run-up to elections in Zimbabwe, but as been termed "imperialist" by the ruling parties of Zimbabwe and, more surprisingly, South Africa.
Nigeria  Nigeria considers military action against Togo
afrol - 15 Feb, 2005
The Nigerian government will not rule out military actions against Togo if the coup regime in Lomé does not comply with West African demands to step down. In the Togolese capital, meanwhile, the fronts are hardening as the new ruler continue their crackdown on the media and the opposition promises new protest marches.
 
Botswana  San eviction trial goes on in Botswana
afrol - 11 Feb, 2005
Zimbabwe  Zimbabwe opposition to take part in polls
afrol - 04 Feb, 2005
South Africa  South Africa union again expelled from Zimbabwe
afrol - 03 Feb, 2005
Malawi  Malawi President to face impeachment
afrol - 01 Feb, 2005
Namibia  "Iran did not buy uranium from Namibia," govt
afrol - 01 Feb, 2005
Zimbabwe  Zimbabwe Diaspora to launch weekly newspaper
afrol - 31 Jan, 2005
Tunisia  Increased pressure for Tunisia democratisation
afrol - 31 Jan, 2005
Sudan  "No genocide in Darfur," UN
afrol - 31 Jan, 2005
Africa Market Roundup
Botswana 7,564.95 -34.41 -0.45% 09Mar
Cote dIvoire 139.77 +2.02 +1.47% 09Mar
Egypt 6,690.91 -83.02 -1.23% 09Mar
Ghana 5,747.02 -91.63 -1.57% 09Mar
Kenya 81.59 +0.60 +0.74% 09Mar
Libya 1,212.88 +0.87 +0.07% 09Mar
Malawi 5,155.41 +0.31 +0.01% 09Mar
Mauritius 1,652.97 +14.86 +0.91% 09Mar
Morocco 11,032.82 +40.97 +0.37% 09Mar
Nigeria 23,196.20 +148.89 +0.65% 09Mar
Tanzania 1,181.86 +0.00 +0.00% 05Mar
Tunisia 4,645.28 -24.15 -0.52% 09Mar
Uganda 832.35 +5.04 +0.61% 09Mar
Zimbabwe 135.82 +1.81 +1.35% 09Mar
 
Middle East Market Roundup
Bahrain 3,054.20 +20.38 +0.67% 30Dec
Iraq 251.63 -1.42 -0.56% 18June
Jordan 2,563.60 +3.00 +0.12% 04Jan
Kuwait 6,890.90 -114.40 -1.63% 04Jan
Lebanon 1,575.29 +9.52 +0.61% 04Jan
Oman 6,419.78 -50.15 -0.78% 04Jan
Palestine 500.15 +1.69 +0.34% 04Jan
Qatar 10,796.75 -105.60 -0.97% 09Aug
Saudi Arabia 6,201.76 +51.85 +0.84% 04Jan
United Arab Emi 1,817.13 -48.46 -2.60% 04Jan
 
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