Thursday 17 August 2017
(Reuters (Eng) 08/02/13)
LONDON | Fri Aug 2, 2013 (Reuters) - The winning investment strategy of 2013 has been simple but extreme: return home to the safety of the biggest, most-traded markets, or venture to the riskiest frontiers from Ivory Coast to Pakistan. Those in the middle of the risk curve - the biggest emerging markets that now account for almost half of the top 20 world economies - have been the big losers. The contrasting fortunes may herald the start of a broader repricing of big emerging economies where a flood of cheap money from developed economies has distorted prices the most. Risk - which dominated global financial markets in the past few years - has played a smaller role in defining...
(This Day Live 08/02/13)
Against the backdrop of the three-day investment roundtable in Cape Town, South Africa, John Iwori, who attended the event, writes that African countries are forging a common front in the shipping and energy sectors of the continent's economy. Working against One Another That most African countries are working at cross purposes is an understatement. In spite of their proximity, they prefer to work against their common interests. They hardly see each other as partners in progress. In fact, they see themselves as enemies. They work against one another for the benefit of the people on other continents, especially those who ruled over them during the colonial era. The undue rivalry among African countries has often robbed the people on the...
(This Day Live 08/01/13)
The World Bank Group committed a record $14.7 billion in fiscal year 2013 (July 2012 to June 2013) to support economic growth and better development prospects in Africa, despite uncertain economic conditions in the rest of the global economy. “The region has shown remarkable resilience in the face of a global recession and continues to grow strongly,” said World Bank Vice President for the Africa Region, Makhtar Diop. “Africa is at the centre of the World Bank Group 2030 goals of ending extreme poverty and promoting shared prosperity, in an environmentally, socially, and fiscally sustainable manner.” The World Bank Group, according to a release from its Nigeria office in Abuja, continued its strong commitment to Africa approving $8.25 billion in...
(Voice of America 07/31/13)
JOHANNESBURG — The United Nations’ AIDS agency is hailing what officials describe as significant progress in the fight against the epidemic in eastern and southern Africa. The report says AIDS-related deaths have declined dramatically and that the number of new infections has decreased - a direct result of more available treatment. But, they warned, challenges remain. Top health and aid officials praised the gains in the fight against AIDS in southern and eastern Africa - among them, a nearly 40 percent drop in AIDS-related deaths since 2005, and a 50 percent drop in new infections among children since 2001. The cause, they said was simple: The number of people receiving anti-retroviral treatment has increased tenfold, from 625,000 in 2005 to...
(Reuters (Eng) 07/31/13)
LAGOS, July 31 | Wed Jul 31, 2013 (Reuters) - The chairman of African lender Ecobank Transnational (ETI) has repaid a set of loans he took from the bank and no company rules were broken by the transactions, Chief Executive Thierry Tanoh said on Wednesday. South African sovereign fund manager PIC, a 20 percent shareholder in the African bank, has said they would wait for the board of directors to investigate and draw conclusions over the allegations around debt taken out by chairman Kolapo Lawson on August 5. The lender itself has said previously that the loans, which the Financial Times reported were the subject of a boardroom battle, were performing. Tanoh said on Wednesday they were contracted two years...
(CNN 07/31/13)
(CNN) -- A decade after Angola emerged from devastating civil war, the sea front road that winds around the bay of its capital, Luanda, is now dotted with multi-million dollar condominiums, exclusive clubs, and boutique stores catering for the country's elite. Most of Luanda's population, however, live in the nearby slums, where health facilities are non-existent and children must work, not study, to survive. Africa's natural resource wealth has certainly fueled a decade of rapid growth, but most Africans have still not seen the benefits. More urgently, rapid population growth combined with deepening inequality could one day prove explosive. It does not have to be this way, of course. Botswana successfully used its diamond wealth to develop quickly, growing from...
(Bloomberg 07/30/13)
Ivory Coast is attempting to clean up the awarding of public bids, placing the regulating agency under the oversight of President Alassane Ouattara after the number of deals given without tenders jumped. In the first three months of the year, 57 percent of the amount spent in public deals was awarded without public bids, compared with 40 percent last year, Non Karna Coulibaly, head of the National Public Procurement Regulating Authority, said in a July 23 interview in Abidjan, the commercial capital. “The more direct awards of public contracts there are, the less transparent and efficient the system is,” Coulibaly said. “What should be an exception is the norm. It’s a wrong signal to give to investors.” The world’s biggest...
(Unhcr 07/30/13)
MONROVIA, Liberia, July 30 (UNHCR) – More than 10,000 Ivorians have returned home so far this year from Liberia with UNHCR help, almost double the figure for the whole of last year. The landmark was passed late last week. The refugees, mostly living in camps and communities in Grand Gedeh, Nimba, Maryland and River Gee counties in Liberia, have returned to areas such as Toulepleu, Tabou and Danane in western Côte d'Ivoire. The UN refugee agency, in collaboration with the Liberia Refugee Repatriation and Resettlement Commission and other partners, has been organizing road convoys for those wishing to return more than two years after fleeing post-election violence in Côte d'Ivoire. Those heading back from Maryland County cross the Cavalla River...
(Africa Review 07/30/13)
The government of Cote d’Ivoire has failed to properly investigate evidence of human rights abuses linked to the killings at Nahibly displacement camp in the west of the country just over a year ago, says Amnesty International. In a report published today the organisation gives details of bodies thrown in several wells that have not been excavated by the authorities despite repeated calls for an investigation. Amnesty International is calling on Cote d’Ivoire to establish an international commission of inquiry into this atrocity. “One year on, and despite repeated promises to ensure justice, the Ivorian government has made no substantial progress in investigating the crimes committed during this attack,” said Salvatore Saguès, Amnesty International’s Researcher on West Africa. On 20...
(AFP (eng) 07/28/13)
PARIS, July 28, 2013 (AFP) - Disappointment over the lack of democratic progress in Egypt, Tunisia and Libya is understandable, but the so-called Arab Spring of 2011 will take time to mature, analysts say, warning that the process will be chaotic. "We have to stop using seasonal metaphors. We are in a revolutionary process that will take at least a decade," says Karim Emile Bitar, an expert on Arab affairs at the Paris-based Institute of International and Strategic Relations. "And 'revolutionary process' means revolution, counter-revolution, efforts to fix the revolution, and that's exactly what is happening," he added. In Egypt, the army ousted democratically elected president Mohamed Morsi of the Muslim Brotherhood; Tunisia has seen sometimes violent demonstrations against the...
(Huffingtonpost 07/27/13)
South Africa's failure to successfully engage some of Africa's most troublesome conflict zones has undermined the country's credibility and cast doubt about whether South Africa should be perceived as the continent's regional military and political leader. Ineffectual leadership is at the heart of the matter. President Zuma has made some dubious decisions regarding South Africa's regional foreign policy, and his inability to meaningfully address the plethora of domestic problems facing the country raises question about its suitability as Africa's de facto leader. Attempts to promote human rights -- a trademark of South Africa's foreign policy for the past 20 years -- have resulted in the adoption of some erratic policy decisions. For example, the South African government has numerous times...
(Reuters (Eng) 07/26/13)
ABIDJAN | Fri Jul 26, 2013 (Reuters) - Eight people have been convicted in Ivory Coast, the world's top cocoa grower, of buying cocoa beans below the government-guaranteed price during the current mid-crop harvest, the Coffee and Cocoa Council said. Ivory Coast introduced a minimum price for farmers at the beginning of the 2012/13 season, ending more than a decade of sector liberalization in an effort to raise farmer incomes and encourage reinvestment in ageing plantations. The CCC marketing board set a farmgate price of 725 CFA francs ($1.46) per kg for the October-to-March main crop, which was largely respected by the merchants. However, many have ignored its price of 700 CFA francs/kg announced for the April-to-September mid-crop beans, farmers...
( 07/26/13)
Successful elections in Zimbabwe are crucial both for that country's own socio-economic development and for improved security in the southern African region, says South African Deputy International Relations Minister Ebrahim Ebrahim. Speaking to journalists in Pretoria on Thursday, Ebrahim said the South African government welcomed the fact that the overall atmosphere in Zimbabwe remained calm ahead of next week's elections, with no major instances of violence or intimidation having been reported so far. Ebrahim added that South Africa hoped there wouldn't be a repeat of Zimbabwe's previous election in 2008, when the announcement of the results had been delayed, stoking concerns about poll rigging. Over six-million Zimbabweans who have registered to vote will go to the polls next Wednesday to...
(Business Daily 07/26/13)
Global food prices fell by 2 per cent in the latest four-month period, marking the third straight period of declines, as declining imports in the Middle East and North Africa, and lower demand pushed prices down 12 per cent from their August 2012 peak, the World Bank said on Thursday. The World Bank's Food Price Index showed international prices of wheat fell by 2 per cent, sugar by 6 per cent, soybean oil by 11 per cent, and maize, or corn, by 1 per cent during the four-month period between February and June. The index, which weighs export prices of food, fats and oils, grains, and other foods in nominal U.S. dollars, fell by 2 per cent. Improved weather conditions...
(AFP (eng) 07/25/13)
At least six prisoners have died and several others, including guards, were injured during an attempted breakout from an Abidjan prison, security sources have said. People living near the Maca jail, the largest in Ivory Coast, said shooting erupted on Tuesday and continued late into the night. "There are at least six dead among the prisoners and many injured, including both prisoners and guards, " a security source said Wednesday, updating an earlier toll of two dead. A policeman said all surviving prisoners had returned to their cells by early Wednesday in the prison which houses many people linked to former president Laurent Gbagbo. Details of the attempted breakout remained unclear, but a source close to the army high command...
(Voice of America 07/25/13)
The former chief of investigations for the United Nations Special Court for Sierra Leone has called on the International Criminal Court (ICC) to investigate and prosecute leaders of the Forces Nouvelles over alleged atrocities the group committed during Ivory Coast’s civil war. Alan White says there is need for the ICC to administer equal justice in Ivory Coast. “All we are looking for is to ensure there is a balanced investigation and a balanced prosecution. Quite frankly that is one of the areas right now that the country of Ivory Coast is struggling from is the fact that there is not a sense of justice,” White said. The ICC is gathering evidence to prosecute former Ivorian president Laurent Gbagbo for...
(This Day Live 07/25/13)
African countries and their communities have been told they can effectively end ‘land grabs,’ grow significantly more food across the region, and transform their development prospects if they can modernise the complex governance procedures that govern land ownership and management over the next decade. This was revealed in a new World Bank report titled Securing Africa’s Land for Shared Prosperity released on Monday in Washington, US, which also noted that Africa has the highest poverty rate in the world with 47.5 per cent of the population living below $1.25 a day. The detailed report noted that sub-Saharan Africa is home to nearly half of the world’s usable, uncultivated land but so far the continent has not been able to develop...
(Voice of America 07/25/13)
CAPITOL HILL — Prospective U.S. diplomats to Africa say President Barack Obama’s recent trip to the continent underscored persistent challenges and vast opportunities that cry out for robust and sustained American engagement. Administration nominees for the State Department’s top Africa post, as well as numerous ambassadorships, testified Wednesday at their Senate confirmation hearing. During his three-nation trip to Africa earlier this month, Obama unveiled initiatives to boost electric service on the continent, increase trade and commercial ties, and help groom Africa’s next generation of leaders. But more must be done, according to Democratic Senator Chris Coons, chairman of the Senate Foreign Relations subcommittee on Africa. “President Obama’s recent trip was a positive demonstration of U.S. commitment, and the president’s initiatives...
(AFP (eng) 07/24/13)
ABIDJAN, July 24, 2013 (AFP) - A bid to reconcile hardened enemies in Ivory Coast has all but broken down, according to participants and observers, and time is running out for a commission set up to heal the wounds of bitter strife. More than two years after a political and military crisis that claimed at least 3,000 lives in the west African country in the wake of disputed elections, statements by rival sides reveal their deep differences. Yet the word "reconciliation" is still on many lips in political circles. Supporters of President Alassane Ouattara make it an article of faith. So do members of the opposition Ivorian Popular Front (FPI) of former president Laurent Gbagbo, who triggered the crisis by...
(AFP (eng) 07/24/13)
ABIDJAN, July 24, 2013 (AFP) - A bid to reconcile hardened enemies in Ivory Coast has all but broken down, according to participants and observers, and time is running out for a commission set up to heal the wounds of bitter strife. More than two years after a political and military crisis that claimed at least 3,000 lives in the west African country in the wake of disputed elections, statements by rival sides reveal their deep differences. Yet the word "reconciliation" is still on many lips in political circles. Supporters of President Alassane Ouattara make it an article of faith. So do members of the opposition Ivorian Popular Front (FPI) of former president Laurent Gbagbo, who triggered the crisis by...

Pages