Saturday 19 August 2017
(Business Day 09/06/13)
Multinational companies operating in Africa are hitting back at claims that government coffers are being eroded by deliberate intragroup mispricing and shifting of profits across borders to pay significantly less tax. Apart from a lack of clarity on what guidelines to use, reports of bribes to resolve tax disputes, poorly educated tax officials focusing only on their bonuses, and a lack of will to follow global guidelines are emerging. Governments are concerned that money they should be receiving is being diverted to other countries, which then receive the tax revenue. This is leading to major moves by tax authorities to ensure transactions between related companies or parties, such as employers and employees, are done at arm’s length. This means these...
(The Guardian 09/06/13)
Scheme could herald a 'green gold' revolution as mines commit to ban child labour, enforce safety rules and prevent toxic run off. In a bustling area of Nyarugusu, in the heart of Tanzania's gold lands, a stocky man is fanning a dustbin lid of smouldering charcoal, gold ore and mercury on the pavement. Each waft sends a cloud of toxic vapour into the faces of children and adults as they gather to watch. The burning of mercury is a common sight in the streets, homes and cottage-industry mines throughout east Africa. The liquid metal is used to extract the gold and then vaporised to leave behind flakes of the precious metal. But in this dangerous industry, seeds of a gold...
(Reuters (Eng) 09/05/13)
NEW YORK | (Reuters Health) - Despite concerns that iron supplements may increase children's risk of malaria in regions where it is common, a new study found kids in Ghana who received nutrient powder with iron were no more likely to get the disease than their peers. According the World Health Organization (WHO), there were approximately 660,000 deaths from malaria in 2010. About 90 percent of those occurred in Africa, most in children under five years old. Some studies have suggested giving children iron might increase their risk of malaria - including one trial that was halted early due to more hospitalizations for malaria and other infections among children receiving iron. The theory is that malaria-causing parasites can take up...
(AFP (eng) 09/03/13)
ABIDJAN, September 3, 2013 (AFP) - Mali's interim leader Dioncouda Traore thanked Ivory Coast for its support in resolving its severe political crisis, on his last overseas visit before leaving office on Wednesday. The west African country is slowly emerging from a turbulent period which saw it suffer the back-to-back blows of a Tuareg rebellion, a military coup and the seizure of half its territory by armed Islamist extremists linked to Al-Qaeda. "Mali has come a long way, we went through extremely difficult months but we can say today that we've reached the end of the tunnel after retaking all our territory," Traore said during talks with his Ivorian counterpart Alassane Ouattara. Ivory Coast contributed troops to an African force...
(Haaretz 09/03/13)
Last week’s announcement that an agreement had been reached with an African country, later identified as Uganda, to accept African migrants from Israel was not only premature but far too optimistic in terms of the number of people likely to be involved, a senior government official said Monday. Haaretz has learned that the contacts with Uganda relate to the absorption of only a few hundred migrants, so even if an agreement is successfully concluded, its influence will be limited. According to the Population, Immigration and Border Authority, some 54,000 African migrants are now living in Israel, more than 90 percent of them Eritrean and Sudanese nationals. The initial announcement about an agreement with Uganda was made last week by Interior...
(Voice of America 09/03/13)
JOHANNESBURG — Journalists and South Africans have flocked to former South African president Nelson Mandela’s home in Johannesburg following his release Sunday from a Pretoria hospital. Mandela spent 85 days there after being admitted on June 8 for a recurring lung infection. While many South Africans are breathing a sigh of relief, some have questioned why the world icon was released despite the fact that his condition remains critical and at times unstable. Since Sundays’ announcement that the 95-year-old former president was allowed to return home from the Medi-Clinic Heart Hospital in Pretoria, social media have been flooded with congratulatory messages, and the story has made international headlines. The media that was entrenched for months outside the hospital now has...
(BBC News Africa 09/03/13)
The origins of human tuberculosis have been traced back to hunter-gatherer groups in Africa 70,000 years ago, an international team of scientists say. The research goes against common belief that TB originated in animals only 10,000 years ago and spread to humans. The work, published in Nature Genetics, outlines the strong relationship between the evolutionary history of both humans and TB. The disease causes more than one million deaths every year. Previous research has indicated that human TB originated about 10,000 years ago in Africa during the Neolithic Demographic Transition (NDT), when the human population was expanding and agriculture was becoming prominent. Researchers combined geographic and genetic data from 259 strains of TB to reconstruct its evolutionary history and compare...
(Bloomberg 09/03/13)
China’s smallest oil imports from West Africa in at least two years are curbing demand for tankers on the third-longest trade route, prolonging the worst rates in more than a decade for Frontline Ltd. and other owners. Chinese refiners will buy 28 percent less West African crude this month than a year earlier, the least in data starting in August 2011, according to loading plans and a Bloomberg News survey of eight traders. Shares of Frontline, which operates 32 very large crude carriers, will drop 38 percent in 12 months, the average of 14 analyst estimates compiled by Bloomberg shows. Those of Euronav SA, with 13 supertankers in its fleet, will retreat 24 percent, the forecasts show. Tanker owners are...
(Voice of America 09/02/13)
JOHANNESBURG — Former South African president Nelson Mandela has been discharged from Medi-clinic Heart Hospital in the country’s capital, Pretoria, where he spent close to three months being treated for a recurring lung infection. However, his health is said to remain critical and at times unstable, and his doctors will keep providing him with intensive care at his Johannesburg home. Thuso Khumalo has more from Johannesburg. A spokesman for South African President Jacob Zuma has confirmed that Mandela left the hospital Sunday morning. Presidential spokesperson Mac Maharaj says the anti-apartheid icon is now recovering at his home in the Johannesburg suburb of Houghton. Mandela had been hospitalized since June 8. Maharaj referred to Mandela using his clan name, Madiba. We...
(Reuters (Eng) 09/02/13)
LONDON, Sept 2 | Mon Sep 2, 2013 (Reuters) - Africa-focused mining and infrastructure firm IMIC said on Monday it signed an offtake agreement with Chinese group Hebei Iron and Steel for iron ore produced from the Nkout project in Cameroon, which IMIC is in the process of acquiring. Junior miner Afferro IMIC, which is allied with African Iron Ore Group, run by Afren Plc founder Bert Cooper, says it can build the infrastructure necessary to begin production at its project in Cameroon. IMIC said the offtake agreements will be used as a vital part of financing the project through Chinese partners such as Hebei - the largest steel producer in China. A similar offtake agreement was crucial to African...
(AFP 09/01/13)
JOHANNESBURG, September 1, 2013 (AFP) - South Africa's anti-apartheid icon Nelson Mandela was Sunday discharged from hospital where he has been treated since June 8 for a recurring respiratory illness, the presidency said. "Former President Nelson Mandela has this morning, 1 September 2013, been discharged from the Pretoria hospital where he has been receiving treatment," said a statement. It is said his condition "remains critical and is at times unstable." An ambulance with police escort was seen arriving at his suburban home, north of Johannesburg, shortly after 0900 GMT. Officials said the 95-year-old will receive the same intensive care from his Johannesburg home. "If there are health conditions that warrant another admission to hospital in future, this will be done."...
(Reuters (Eng) 08/31/13)
(Reuters) - Ivory Coast cocoa exporters have rejected a price structure proposed by the industry regulator for the 2013/14 season, saying it underestimated their costs, and have called for government mediation, industry sources said. The standoff highlights disagreements that have plagued the sweeping reforms that the government has put in place in an effort by President Alassane Ouattara to guarantee farmers a minimum price for their crop. The main cocoa exporters, including Cargill, ADM , OLAM and Armajaro, have called for an increase of 27 CFA francs per kilo in the price structure from last year to take into account additional costs, notably in transport and taxation. "We are asking for a 27 CFA franc increase in next season's cost...
(AFP 08/31/13)
JOHANNESBURG, August 31, 2013 (AFP) - South Africa's presidency on Saturday denied reports that Nelson Mandela had been discharged from hospital and had returned to his Johannesburg home. "Madiba is still in hospital in Pretoria, and remains in a critical but stable condition," President Jacob Zuma's spokesman said in a statement, denying reports from several news organisations that he had left the facility. "At times his condition becomes unstable, but he responds to medical interventions." During Mandela's 80-plus days in hospital, the presidency through Maharaj has been the official source of information about the condition of the 95-year-old anti-apartheid icon. But updates have been infrequent and have offered few details, prompting frequent speculation. At the end of July, Zuma's office...
(This Day Live 08/31/13)
As part of concerted efforts to bring about credible and sustainable solution to the scourge of maritime insecurity in Africa’s maritime domain especially in the Gulf of Guinea (GoG), Nigeria has entered into partnership with the naval forces of Spain, Ghana, Ivory Coast, Germany, Saudi Arabia, United States of America, Cameroon, Malaysia, France, Dubai, Togo, Pakistan, Canada, Tanzania, South Asia, Netherlands, South Africa and 17 the naval forces of 17 other countries. During the first of its kind maritime awareness partnership, which kicked-off Tuesday in Lagos, the naval forces of over 34 different countries that virtually relocated to Nigeria, pledged to take a united stand against the illegalities that take place in the maritime domain. Tagged ‘’Delivering Maritime Security to...
(Reuters (Eng) 08/30/13)
ABIDJAN | Fri Aug 30, 2013 (Reuters) - Ivory Coast cocoa exporters rejected a price structure proposed by the Coffee and Cocoa Council (CCC) regulator for the 2013/14 season, saying it underestimated the cost of doing business, and have called for government mediation, sources said on Friday. The main cocoa exporters -- including Cargill, ADM , OLAM and Armajaro -- have called for an increase of 27 CFA francs per kilo in the price structure from last year to take into account additional costs, notably in terms of transport and taxation. "We are asking for a 27 CFA franc increase in next season's benchmark because the costs were underestimated so much last year," said the head of one international cocoa...
(Reuters (Eng) 08/30/13)
ACCRA, Aug 30 (Reuters) - A court in Ghana on Friday rejected a request to extradite a senior ally of former Ivory Coast President Laurent Gbagbo, saying the warrant issued by Ivorian authorities was politically motivated. Justin Kone Katinan, Gbagbo's former budget minister, was arrested in August last year in Accra on an international warrant accusing him of masterminding the looting of banks in the Ivorian capital. Ivory Coast's decision to pursue Gbagbo's supporters for various crimes during the violent political standoff after the disputed 2010 election, has angered the opposition and made reconciliation efforts with the Gbagbo camp difficult. Gbagbo is awaiting trial at the International Criminal Court in The Hague on charges of crimes against humanity committed during...
(Ghana Business News 08/30/13)
The Osu Magistrate Court on Friday acquitted and discharged Justine Kone Katinan, the former Ivorian Minister, who was facing extradition to his home land. The court presided over by Mr Aboagye Tandoh, acquitted the ally of former Ivorian President Laurent Gbagbo on the grounds that the charges were politically-motivated and the prosecution failed to establish any case against the accused. The Judge also said the Ivorian Parliament had purported that, Ivory Coast had signed the ECOWAS Extradition Treaty with Ghana but a list of countries, presented to the court showed the country’s name missing. The ruling was earlier scheduled for August 7, however, on the said date, Mr Mathew Amponsah, Chief State Attorney, filed an application arresting the judgment on...
(Reuters (Eng) 08/30/13)
PERTH | Fri Aug 30, 2013 (Reuters) - Australia's Sundance Resources (SDL.AX) expects to bring its $4.7 billion iron ore project in West Africa online by early 2018, despite the collapse of a takeover by China's Hanlong Group in April that many expected to doom the project. Giulio Casello, chief executive of Sundance, told Reuters in an interview that the company is also aiming to finalize an equity partner for the project and have off take secured by the end of the year. By early next year, Sundance expects to have selected a contractor for the development. Investors saw little hope for the future of the project when the Hanlong deal fell through, but Sundance has said it was talking...
(Reuters (Eng) 08/30/13)
JERUSALEM | (Reuters) - Israel plans to soon begin deporting migrants from Eritrea and Sudan, who number more than 50,000, back to the African continent via Uganda, officials said. Israel regards most of these Africans as illegal visitors crowding impoverished areas in search of jobs, and largely rejects the position of human rights groups that many fled their countries in search of political asylum. A statement late on Thursday from Interior Minister Gideon Sa'ar said Israel would soon begin a staged process of deporting the migrants, most of whom crossed the border with neighboring Egypt - Israel's frontier with Africa - since 2006. Sa'ar said an agreement had been reached with an African country other than Eritrea and Sudan to...
(Ghana Business News 08/30/13)
Former UN Secretary-General Mr. Kofi Annan is calling for a link between tax authorities in Africa and global reforms to avoid tax evasion. According to the Ghanaian diplomat, African tax authorities suffer more among all regions struggling to prevent the erosion of tax bases. Mr. Annan made this known in an op-ed published by the Australian Financial Review ahead of G20 leaders’ commitment to discuss global tax reform when they meet in Russia next week. The op-ed was also on why Australia should work towards building a better mining partnership with Africa. “Tax authorities in all regions struggle to prevent the erosion of tax bases, but Africa struggles more than most,” Annan said. Mr. Annan stated “automatic information exchanges must...

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