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| Top Regional Business and Finance News |
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, |
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 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. |
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. |
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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'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. |
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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. |
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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. |
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| Top Regional Economic News |
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. |
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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. |
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. |
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. |
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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. |
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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. |
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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 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. |
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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-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. |
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| Other Regional Headlines |
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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 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. |
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San eviction trial goes on in Botswana |
| afrol - 11 Feb, 2005 |
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Zimbabwe opposition to take part in polls |
| afrol - 04 Feb, 2005 |
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South Africa union again expelled from Zimbabwe |
| afrol - 03 Feb, 2005 |
Malawi President to face impeachment |
| afrol - 01 Feb, 2005 |
"Iran did not buy uranium from Namibia," govt |
| afrol - 01 Feb, 2005 |
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Zimbabwe Diaspora to launch weekly newspaper |
| afrol - 31 Jan, 2005 |
Increased pressure for Tunisia democratisation |
| afrol - 31 Jan, 2005 |
"No genocide in Darfur," UN |
| afrol - 31 Jan, 2005 |
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| 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 |
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| 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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