Friday 19 January 2018

Gabon

(The Associated Press 02/23/16)
Gianni Infantino expects more than half of Africa's 54 countries to back him in the FIFA presidential election on Friday. "I will make an impact (in Africa). I will have a majority of the African votes," the UEFA secretary general said in Cape Town on Monday on a short-notice visit to see where Nelson Mandela was jailed during apartheid. Infantino's claim, if true, means most African countries will defy their continent's soccer leadership. The Confederation of African Football executive committee has formally endorsed Infantino's main opponent, Sheikh Salman of Bahrain. Infantino said his belief came from private visits to Africa, FIFA's largest confederation by number of voting countries, and a crucial battleground for votes. "In the discussions I've had with...
(AFP (eng) 02/22/16)
English FA Cup last 16 action brought goals for Nigerian pair Victor Moses and Emmanuel Emenike for West Ham, while Burkina Faso's Bertrand Traore was on the mark for impressive Chelsea. Elsewhere, African Player of the Year Pierre-Emerick Aubameyang scored his 21st goal of the season for Borussia Dortmund while Mohamed Salah was the man of the match with two goals in Roma's rout of Palermo. ENGLAND VICTOR MOSES (West Ham) The Nigeria winger made it 1-1 in the Hammers eventual 5-1 fifth-round FA Cup win over second-tier Blackburn Rovers when he let fly six minutes after his side had fallen behind with a well-struck shot from 20 yards out. EMMANUEL EMENIKE Emenike (West Ham) Moses's compatriot, on loan from...
(The Wall Street Journal 02/22/16)
Investors are yanking their cash from African assets, until recently a popular play for the adventurous, as a toxic confluence of factors overhangs the continent. Crashing commodity prices, a Chinese slowdown and a string of policy failures are forcing investors to reassess the risk of investing in Africa after years of optimism about its growth prospects. Stock markets and currencies have been selling off across the continent, especially in commodity-dependent economies. Nigeria, the continent’s largest economy and longtime investor darling, has one of the world’s worst-performing stock indexes this year, down by 14% since the start of 2016. The S&P Nigeria BMI index lost more than one-quarter of its value last year as measured in dollars, 10 percentage points more...
(Reuters (Eng) 02/20/16)
Africa's biggest economies have been hammered by the collapse in commodity prices over the past 18 months but there are still investment bright spots to be found. In cities such as Lagos, Nairobi, Accra, Kinshasa and Johannesburg, growth remains robust and investors are prospering in the retail, financial services, technology and construction sectors. This means investors can now re-adjust their strategy for Africa. Instead of taking a view on the continent as a whole, or choosing one country over another, they can seize opportunities city by city. Sub-Saharan Africa is urbanising faster than anywhere else in the world and city dwellers have more money to spend.
(Vanguard 02/20/16)
The problem of counterfeit and substandard medicines in Africa is huge. It is estimated that up to one-third of medicines in some parts of the continent are counterfeit and even more are substandard – meaning they are either ineffective, of subpar quality or, worst of all, harmful to patients. Every year, 122,000 African children under the age of five die because of counterfeit antimalarials alone. Beyond deaths, poor-quality medicines place an enormous economic strain on families and health systems and are also contributing to the rise of drug resistant strains of various diseases, including malaria, tuberculosis and other common infections. The Centre for Pharmaceutical Advancement and Training (CePAT) in Accra, Ghana, is an incredible example of an Africa-led solution to...
(APA 02/19/16)
Egyptian President Abdel Fattah El Sisi and his Gabonese counterpart Ali Bongo Ondimba on Thursday attended the signing of five cooperation protocols and memorandums of understanding in the political consultation, education, health and pharmaceutical industries. During a joint press conference they held in Cairo, President al Sisi stressed the importance of promoting cooperation with Gabon in various domains and coordinating stance with the African country in regional and international organizations. President al-Sisi announced the setting up of an Egyptian Gabonese hospital in Gabon to serve the people of Gabon, stressing his appreciation for Gabon's positions supporting the freewill of the Egyptian people. President al Sisi also said he agreed with the Gabonese president on the importance of developing coordination at...
(Bloomberg 02/19/16)
Several times a week Ivorian computer engineer Paul Tahi stops by Le Roi du Pain bakery in northern Abidjan to buy six freshly-baked baguettes for his three children. “My children love bread -- for breakfast in the morning or for snacks at school,” said Tahi, 42, while carrying a bag of the French bread loaves. “At home, we eat more bread than rice.” Le Roi du Pain, translated as The King of Bread, was opened in the city’s Deux-Plateaux neighborhood in July by Mohamed Shour, a 32-year-old Lebanese baker’s son who was born and brought up in Abidjan. The brightly-lit, 24-hour eatery is just one of a growing number of bakeries -- local, Lebanese and French -- to spring up...
(News24 02/19/16)
There are several reasons why Africa is least prepared to deal with an outbreak of the Zika virus. This includes the limited laboratory capacity and a lack of experts and funding. If the latest mosquito-borne Zika virus breaks out in Africa, the continent would be less prepared than any other to deal with the outbreak. Brazil hardest hit Zika fever is a mosquito-borne viral disease caused by the Zika virus which is suspected of leading to the birth of deformed babies. The virus is transmitted to humans when an infected Aedes mosquito stings a person. Direct human to human transmission through sex has also been reported. The virus has spread to 23 countries in the South American region. Brazil has...
(APA 02/18/16)
Gabonese President Ali Bongo arrived on Wednesday evening in Cairo on a visit to Egypt where he is expected to meet with Egyptian President Abdel Fattah al-Sisi, to discuss ways of boosting cooperation between the two countries. The two presidents will hold a joint press conference after their official talks on Thursday, the presidential spokesman Alla Youssef said on Wednesday.
(Bloomberg 02/18/16)
Josephine Mbinya bends from the waist to pluck beans from the black soil on her smallholding south of Nairobi, Kenya’s capital. She throws them in a heap on the side of the field. “We depend on the farm for all our needs,” said Mbinya, 52, a widow who also farms tomatoes, corn and livestock to support her two sons, two daughters and a grandson. “When the harvest is not good, there is no food sometimes. The only way to survive is selling one of the animals.” Like many of the 80 percent of Africa’s farmers who operate on less than two hectares (five acres) of land, Mbinya struggles with a lack of financing, proper irrigation, fertilizer and machinery. Land-ownership restrictions...
(Huffingtonpost 02/18/16)
Nearly 1 million children need treatment for severe malnutrition in eastern and southern Africa due to drought that is putting millions more at risk of hunger, water shortages and disease, the U.N. children's agency said on Wednesday. Even though the powerful El Niño weather phenomenon blamed for the drought is forecast to dissipate in the coming months, its impact on people in affected countries will last far longer, the United Nations has warned. "El Niño... will wane, but the cost to children - many who were already living hand-to-mouth - will be felt for years to come," said Leila Gharagozloo-Pakkala, regional director for east and southern Africa with the U.N. Children's Fund (UNICEF). "Governments are responding with available resources, but...
(AFP (eng) 02/17/16)
In the remote wilderness of the Belinga mountains in northeast Gabon, men with shovels in hand dig from morning to night, filling wheelbarrows with soil laced with what they are looking for: gold. The clearing in the equatorial forest is covered with dozens of holes, some four metres (13 feet) deep. "We arrive around seven in the morning, and finish at 6:00 pm... the production isn't that good," says Aboubakar Coulibably, a Malian with muscular arms who moves around 200 wheelbarrows full of the gold-bearing soil per day. On good days, his team finds around nine or 10 grammes of gold. The production may be small but now Gabon's government requires that these men panning for gold must sell what...
(Foreign Policy 02/17/16)
You can’t create a modern economy without access to energy, and lots of it. Energy to run mills and mines, to grow and process food, to light up markets, to build roads and factories, or to build machines that can build more machines. So it’s no coincidence that the average African (excluding South Africa) earns a per capita income about 88 times lower than the average American, and uses about one-87th the amount of energy.
(News Day 02/17/16)
African countries have been urged to work together if they want to develop the tourism sector on the continent, African Union commissioner for transport and infrastructure, Elham Mahmoud Ahmed Ibrahim has urged. Speaking on the sidelines of the 2016 tourism convention held in Victoria Falls last week, Ibrahim said individualism will never help African countries in tourism development. “We can complement each other as African countries. We should work together to develop our institutional capacity and human resources to take it on the international level. So this is one of the areas we need to work on,” she said. “We need co-operation within African countries. We should all have same policies, same regulations to be able to work together and...
(RFI 02/16/16)
Parents mode d'emploi, la série humoristique qui passionne chaque soir 4,5 millions de personnes en moyenne sur la chaîne de télévision française France 2, vient d'avoir une adaptation africaine. Deux sociétés de production ont obtenu le d'adapter le célèbre programme d'éducation des enfants. Samedi dernier, la version africaine de Parents mode d'emploi a été diffusée à l'Institut français de Libreville. La série met en évidence une famille dont les parents âgés de 40 ans se débrouillent pour éduquer leurs trois enfants. Le père, c'est le parfait Africain qui veut inculquer son éducation à ses enfants. Le père : « Quand je dis non, c’est non ». L’enfant : « Mais papa s’il te plait ». Le père : « J’ai...
(Irish Independent 02/16/16)
Africa's biggest economies have been hammered by the collapse in commodity prices over the past 18 months but there are still investment bright spots to be found. In cities such as Lagos, Nairobi, Accra, Kinshasa and Johannesburg, growth remains robust and investors are prospering in the retail, financial services, technology and construction sectors. This means investors can now readjust their strategy for Africa. Instead of taking a view on the continent as a whole, or choosing one country over another, they can seize opportunities city by city. Sub-Saharan Africa is urbanising faster than anywhere else in the world and city dwellers have more money to spend.
(Xinhuanet 02/16/16)
(Xinhua) -- China has supported Africa-led initiatives to combat wildlife crimes through enhanced border surveillance, park management and public awareness, officials said on Thursday. Bonaventure Ebayi, Director of the Nairobi-based Lusaka Agreement Taskforce (LATF) which is the Secretariat and operational arm of the Lusaka Agreement on Co-operative Enforcement Operations Directed at Illegal Trade in Wild Fauna and Flora, said robust partnership with Beijing in the area of wildlife protection has paid dividends. "We have partnered with China under the South-South cooperative framework to promote wildlife protection in this region," Ebayi said during an interview with Xinhua on the sidelines of a regional wildlife forum in Nairobi. The Chinese government has supported cross border initiatives to help identify and apprehend criminal...
(Xinhuanet 02/12/16)
(Xinhua) -- Africa is on course to liberalize its aviation sector by the end of January 2017, an industry lobby said on Thursday. African Airlines Association (AFRAA) Secretary General Elijah Chingosho told Xinhua in Nairobi that countries, which collectively control 85 percent of Africa's air traffic, are committed to opening their skies to other African airlines. "We are likely to achieve the target of having a single African air transport market by end of January 2017," Chingosho said.
(The Economist 02/12/16)
Few places still capture the romance (and frustration) of the early days of flight quite as Africa does. Although air travel in the continent is safer and more common than ever before (see page 53), it still has some charming anachronisms. In Nigeria everyone applauds when the plane touches down. On tiny propeller-driven planes in Botswana the cabin attendants hand you a little bag of biltong, the dried meat that once fed people on long overland treks. In Tanzania, where on some flights almost half the passengers are taking to the skies for the first time, many of the faces in the cabin betray a sense of wonder tinged with fear. Yet African airlines feel like a prop-blast from the...
(Voice of America 02/11/16)
Resource-poor countries like Kenya, Rwanda and Ethiopia are experiencing growth, while resource-rich countries like Nigeria and Angola are battling. The former finance minister of Zimbabwe, Tendai Biti, told the Investing in African Mining Indaba annual conference Tuesday that diversification is key, but African leaders in resource rich countries don’t learn. However, he said the silver lining to the current slump is for policy makers to see this as an opportunity, a sentiment also expressed in the National Bureau of Statistics of Nigeria outlook report. The focus for Investing in African Indaba was on mining, rather than crude oil, whether a particular mineral, diamonds, iron or gas. The issue is global commodities are in a slump, and during the boom, leaders...

Pages

(African arguments 08/29/14)
The historic US-Africa Summit has now passed and it is worth making an early assessment of what it accomplished. Although it will be months before we know whether all the business, security and political commitments that were made are fulfilled, it was by most accounts a success and probably achieved a great deal more than observers expected. Prior to the Summit, critics claimed the Washington gathering was only being held to counter China's growing influence in Africa, but there would be no major new American initiatives on Africa to rival those that emanated from China over the last decade. Other critics claimed that President Obama would avoid discussing the thorny issues related to democracy and human rights and that some...
(Ips News 08/28/14)
Nairobi — Mary Wacu lived in the Rift Valley region for 10 years prior to the 2007/08 post-election violence that rocked Kenya after a disputed general election. "My husband was shot with a poisoned arrow, and my children hacked to death. Everything was burnt to ashes, I barely escaped with my life," she tells IPS. According to human rights organisations, the violence in this East African nation left an estimated 1,500 people dead and resulted in the rape of 3,000 women and the displacement of 300,000 people. From her shanty in the sprawling Kibera slums, in Nairobi, Kenya's capital, Wacu follows the proceedings of the cases for crimes against humanity levelled against President Uhuru Kenyatta, his deputy William Ruto and...
(Xinhuanet 08/26/14)
CHANGCHUN, Aug. 26 (Xinhua) -- The first of 41 trams for Ethiopia rolled off the production line on Tuesday in Changchun City, northeast China's Jilin Province. The tram will be put into service in Ethiopia's capital Addis Ababa where commuters only have a choice of buses or taxis at the moment, said Liu Gang, a manager with China CNR Changchun Railway Vehicles Co.. "We're bringing about 50 Ethiopian drivers and maintenance workers here for training next month," said Liu. With a maximum speed of 70km per hour, the white and green vehicle is designed to be impervious to ultraviolet light, since Addis Ababa has an altitude of 2,400 meters and the sun is exceptionally strong. Its windows block 90 percent...
(Voice of America 08/26/14)
NEW YORK— Over the last two decades, New York City has seen a surge in immigration from Africa. But until recently, newcomers from Sierra Leone, the Ivory Coast, Liberia, Guinea, Ghana other West African nations mostly kept to their own communities. Today, these diverse cultures are coming together to celebrate their common roots, and to demand recognition as a force within the "Big Apple." Between the traditional drums, the vivid multicolored native dress, the many tribal dialects and the sheer merriment and pride on display at the African Diaspora Parade last weekend, it sometimes seemed a lot more like Mother Africa than the Bronx, New York. Mali-born Bourema Niambele, who helped plan the event, swayed and marched with other dignitaries...
(Xinhuanet 08/25/14)
MOMBASA, Kenya, Aug. (Xinhua) -- African police chiefs are due to meet in Kenya's coastal city of Mombasa from Monday to share vital information on terrorists, drug dealers and poachers. Kenya's Inspector General of Police David Kimaiyo said on Sunday the five-day meeting is expected to bring police commanders and heads of criminal investigations from 17 countries in Africa to share intelligence on the emerging security threats in the region. He said security experts from Germany, Turkey, France, Algeria and Nigeria will also participate in the regional meeting as well as head of the Interpol secretariat and will devise ways of combating serious crimes that involve networks across countries. "The meeting is aimed at sharing security related experiences, gains and...
(Pana 08/23/14)
Fourteen years after the introduction of the African Growth and Opportunity Act (AGOA) by the US government to facilitate trade with the continent, a Nigerian business group has frowned at a situation whereby America is dictating the price of what they buy from Nigeria. The local media Thursday quoted the Director General of the National Association of Chambers of Commerce Industries, Mines and Agriculture (NACCIMA), Mr. John Isemede, as saying AGOA had not be quite beneficial to the country because the US, apart from insisting on certain standard, dictates the prices. “For 14 years Nigeria has been on it but what has been the take home from AGOA; who has AGOA made millionaire in Nigeria? “I am not saying we...
(Pana 08/23/14)
The presently inadequate number of pathologists in the East, Central and Southern Africa region should not deter efforts to institute quality assurance measures for improving the profession and laboratory services that go with quality health care, according to Zanzibar President Ali Mohamed Shein. Addressing the 12th Biannual Conference of the Association of Pathologists of East, Central and Southern Africa (APECSA) in Arusha, Tanzania, Shein said the grouping had a crucial role of ensuring continuous professional development in all pathology disciplines. “I believe pathologists should take a leading role in the delivery of quality health care services in all disciplines of medicine,' said Shein, a medical biochemist by profession, stressing that the training of pathologists should go hand in hand with...
(Xinhuanet 08/22/14)
LIBREVILLE, Aug. 22 (Xinhua) -- Gabon's President Ali Bongo Ondimba has condemned the assassination of U.S. journalist James Foley, terming the act as "an odious crime," the spokesman for the presidency Alain Claude Bilie By Nze said on Thursday. "The president expressed outrage at the unjustifiable barbaric act," Nze said during the weekly press conference in the capital Libreville. "Gabon which chairs the United Nations Human Rights Commission strongly condemns this odious crime and would like to appeal for more respect for the lives of innocent civilians and journalists," the spokesman said. Islamic State fighters on Wednesday executed the U.S. journalist in retaliation to the U.S. air-strikes in Iraq.
(AL Jazeera 08/22/14)
African countries have tightened travel curbs in an effort to contain the Ebola outbreak, ignoring World Health Organisation (WHO) warnings that such measures could heighten shortages of food and basic supplies in affected areas. In the West Point slum in Liberia's capital Monrovia, the scene of violent clashes with the army on Wednesday after the area was quarantined to curb the spread of Ebola, hundreds of people jostled their way towards trucks loaded with water and rice. This decision will have an economic impact on the region but it is imperative for public health needs. Kalzeubet Payimi Deubet, prime minister of Chad Police used canes to beat back some locals while aid workers helped others dip their fingers in ink...
(Addis Standard 08/21/14)
First established as the Institute for Defense Policy in 1991 by its current Executive Director Dr Jakkie Cilliers, the Institute for Security Studies (ISS) is an award winning, leading Pan African policy research institution working to "enhance human security on the continent". ISS is known for its independent and authoritative researches and provides expert policy analysis and advice as well as practical training and technical assistance to governments and organizations across the continent and beyond. Its areas of research and policy analysis include conflict prevention and risk analysis, governance and justice, transnational threats and international crime as well as conflict management and peace building. Our Editor-in-Chief, Tsedale Lemma, sat down with Ambassador Olusegun Akinsanya, ISS Regional Representative and Senior Advisor,...
(AFP (eng) 08/20/14)
Hunted for generations for its tasty meat, the scaly-skinned pangolin is under threat in Gabon as demand for the small mammal surges in Asia, where it is used in traditional medicine. A timid and strange-looking creature, the pangolin is rarely seen in the wild, emerging only at night. But in the markets of Libreville, the capital of this west African equatorial state, one will see plenty among the crocodiles, porcupines, gazelles and other bushmeat favoured by the Gabonese. The odd-looking animal is easy to identify, with its elongated body, conical snout and lengthy tongue which it uses for eating insects. Its large reptilian scales give it the appearance of a prehistoric creature or, some say, an artichoke. "People hunt the...
(Gabonews(EN) 08/20/14)
Forty young Gabonese students will be heading for Italy in the upcoming days to continue their education after being thoroughly prepared for six months in Libreville by the institute "Spazio Linguistico Michelangelo". Having obtained the CILS (Certification of Italian as a foreign language), these young people were deemed able to speak Italian by the university in charge of the Italian equivalent of Tofel, will from next school year try to gain knowledge of public and private universities. These young people are part of the fourth class of Spazio Linguistico Michelangelo (SLM), which is in the promotion of the Italian language, may also benefit from scholarships in Italy provided they meet the requirements beforehand.
(The New Times 08/20/14)
Africa is changing dramatically - and so are outsiders' attitudes toward it, with the US finally seeming determined to catch up with China, Europe, and India in their interest in the continent. US President Barack Obama's recent summit with 40 African heads of state and more than 200 US and African business leaders suggests a new, more confident mood. That is encouraging; but as long as parts of Sub-Saharan Africa continue to struggle with violent conflict, poverty, and corruption, the continent's economic potential will not be fully realized. Africa's economic growth and commercial opportunities are exciting and enticing. The region's 300 million-strong middle class is growing by more than 5% annually. The continent leads in mobile banking. Consumer spending per...
(IRIN 08/20/14)
Dakar — Today is World Humanitarian Day when the UN sets out to recognize those who face danger and adversity in order to help others. This year the UN and aid agencies are highlighting humanitarian heroes who have made huge sacrifices to help others in need. Doctors Samuel Brisbane, from Liberia, and Dr Sheikh Umar Khan from Sierra Leone both died after contracting the Ebola virus which, as of 16 August, had infected 2,240 West Africans, and killed 1,229. IRIN spoke to their fellow workers. Dr Samuel Brisbane, 74, died from the Ebola virus on 26 July after contracting it from treating infected patients at the John F. Kennedy (JFK) Medical Center in Sinkor, a district of the Liberian capital...
(Mareeg 08/19/14)
Mareeg.com- The military court convicted 13 more people yesterday. 7 were sentences to death as they were accused of jointly killing a prison inmate who was called Abdiaziz Muhidin Hiraabe. The military court convicted 13 more people yesterday. 7 were sentences to death as they were accused of jointly killing a prison inmate who was called Abdiaziz Muhidin Hiraabe. The others were sentenced to life time imprisonment. The names of those sentenced to death are Hassan Farah Jiinow, Faarah Mohamed Osman, Abdikaafi Sheikh Mohamud, Mohamed Adan Hassan, Abdirahman Dahir Farah, Abdiqadir Aweys Omar and Farah Adan Dhore. The spokesman said that the individuals sentenced to life in prison can take appeal within three weeks starting from the date their verdict...
(Sabahi 08/19/14)
Somali security forces on Tuesday (August 19th) arrested 30 suspected al-Shabaab members and seized a cache of illegal weapons in a daytime security operation in Mogadishu's Bakara Market, Somalia's RBC Radio reported. Hawlwadag District Commissioner Ahmed Nur Siyad said the security forces acted on intelligence information. "We have found information [that] the suspected al-Shabaab members were hiding in a house in the market; that is why we went there," Siyad told reporters, adding that security forces seized pistols and other weapons in the operation, which is part of a citywide disarmament campaign. Security officers believe guns were intended for use in assassination operations around Mogadishu.
(Dw-World 08/19/14)
African governments are sealing their ports and airports in an attempt to halt the spread of Ebola. But will fever checks and entry bans really make any difference? With more than 1,100 dead and 2,100 suspected cases of Ebola, authorities in many African countries are holding their breath. Many are nervous, and some have begun to isolate themselves. From Tuesday onwards, Kenya Airways has suspended flights to Liberia and Sierra Leone. Ivory Coast is no longer allowing ships from Ebola-hit countries to pass through its waters. In Nigeria, no one is allowed to board a plane unless their temperature is normal and they have passed the airport's "fever check." "I think the restriction of air traffic is an expression of...
(BBC News Africa 08/19/14)
Africa's elephants have reached a tipping point: more are being killed each year than are being born, a study suggests. Researchers believe that since 2010 an average of nearly 35,000 elephants have been killed annually on the continent. They warn that if the rate of poaching continues, the animals could be wiped out in 100 years. The work is published in the Proceedings of the National Academy of Sciences. Lead author George Wittemyer, from Colorado State University, said: "We are shredding the fabric of elephant society and exterminating populations across the continent." While conservationists have long said the outlook was bleak, this study provides a detailed assessment of the impact this is having on Africa's elephants. The researchers have found...
(Ips News 08/18/14)
Nairobi — In the rush to save babies from HIV infection and treat their mothers, experts warn that a key element of HIV prevention is being neglected in Africa - contraceptives for HIV positive women. Yet contraception is the second pillar of successful prevention of HIV transmission from mother to child (PMTCT), along with preventing infection among women and babies, and caring for those infected.
(Pana 08/18/14)
All CAF Competition matches in the three countries worst hit by the Ebola Virus Disease (EVD) are to be relocated to neutral grounds, the African soccer's governing body has directed in a circular sent to its 54 affiliated national associations. “CAF will maintain its schedule of matches on the entire continent, except for 3 countries: Guinea, Liberia, and Sierra Leone, which have recorded a great number of cases. 'CAF has decided to ask the three Federations (…) to relocate to a neutral country the matches of their teams participating in CAF competitions, for a period up to mid-September 2014,” the circular said PANA reports that though Nigeria is also affected by the EVD, the country has only recorded 10 cases...

Pages

(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...
(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...
(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...
(The Africa Report 08/30/13)
George Ferreira Vice-president and chief operating officer, Samsung Electronics Africa. Samsung Electronics is preparing to beat its $10bn target for revenue from Africa in 2015. And according to George Ferreira - Vice-president and chief operating officer of Samsung Africa - the company is also looking at the possibility of setting up more assembly plants to avoid tariff barriers. The Africa Report: Is South Africa still your biggest African market, and do you expect it to be so for the new Samsung Galaxy S4? George Ferreira: For the S4, I would say that the South African market is probably on par with the Nigerian market, although I foresee that the Nigerian market should probably overtake the South African market in terms...
(UKzambians 08/29/13)
Leaders from the UK’s African diaspora are being invited to join a powerful new network aimed at supporting sustainable development across the African continent. Working in collaboration with Comic Relief and Unbound Philanthropy, the Royal Society of Arts (RSA) aims to harness the power of the UK diaspora in order to combat persistent levels of poverty and unemployment among their communities in the UK and Africa. Over a period of more than a year, participants will be tasked with identifying and developing a ‘venture’ – business, social enterprise or project – that addresses a particular cause or issue they are passionate about. The new leadership programme will build on individuals’ knowledge and skills and add to the already extensive levels...
(Voice of America 08/26/13)
DHL calls itself the “logistics company for the world,” providing transportation via rail, road, sea and air. And Company officials see Africa as a place where its business can boom. For that to happen, though, more international companies will need to invest in the continent and base their operations there. DHL’s Sumesh Rahavendra sees that happening. That’s one of the findings from a recent global technological conference sponsored by his company.“There’s quite a bit of evidence to that in terms of global companies starting to set up base in Africa. If you look at the likes of SAP or IBM or Hisense, which is the Chinese company, all of them are setting base in Africa and looking at how specifically...
(The Associated Press 08/26/13)
The United Nations world tourism body said Sunday it has chosen Zimbabwe to lead its Commission for Africa, the continent-wide group for tourism development for the next two years. The U.N. World Tourism Organization said that conflict-troubled Mali also joins the African tourism commission. Zimbabwe and Zambia are co-hosting the 155-nation tourism organization's summit, held every two years, at the resort of Victoria Falls on their common border. The six-day general assembly was formally opened by the two countries' presidents, Robert Mugabe of Zimbabwe and Michael Sata of Zambia. The United Nations said in a statement that July 31 elections in Zimbabwe, bitterly disputed over alleged rigging, "will be respected by the assembly." Australia, Britain, Canada and the United States...
(Reuters (Eng) 08/21/13)
(Reuters) - Tanzania-focused miner African Barrick Gold pinned its turnaround hopes on a new chief executive on Wednesday, appointing industry veteran Bradley A Gordon to replace Greg Hawkins at the helm of the struggling group. The FTSE 250 company, whose poor performance meant it was under pressure even before a gold price rout began in April, said Gordon's appointment would be effective immediately. Gordon, who has worked in the gold mining industry for 30 years, was previously CEO of Intrepid Mines, the Canadian and Australian listed precious metals exploration and development company with primary operations in Indonesia. Analysts welcomed the change, and said Gordon's his lack of African experience was balanced by his ability to manage difficult operations. "The announcement...
(Reuters (Eng) 08/21/13)
LONDON | Wed Aug 21, 2013 (Reuters) - Tanzania-focused miner African Barrick Gold on Wednesday named industry veteran Bradley A Gordon as its new chief executive, succeeding Greg Hawkins who has resigned to pursue other opportunities. African Barrick was under pressure even before a gold price rout began in April, hit by illegal mining, power generation problems and strikes, issues which forced it to warn in February that output would shrink for a fifth straight year. Gordon, who has worked in the gold mining industry for 30 years, was previously CEO of Intrepid Mines, the Canadian and Australian listed precious metals exploration and development company with primary operations in Indonesia. African Barrick initiated a review of its operations earlier this...
(Times of swaziland 08/14/13)
MBABANE – As talks regarding the extension of AGOA post 2015 kicked off on Monday in Ethiopia’s Capital City Addis Ababa, Swaziland and other 49 African countries will be very lucky to see the legislation extended with the same existing terms and conditions, International Business Times has reported. Swaziland is one of the 49 AGOA beneficiaries. AGOA stands for Africa Growth Opportunity Act. AGOA was signed into law in 2000; it offers incentives mostly in the form of duty-free trade access to 49 eligible sub-Saharan economies to liberalise their markets and build connections with American trade partners. The agreement expires in 2015, and US and African officials would be setting fresh terms for its renewal. According to International Business Times,...
(Reuters 08/14/13)
LONDON | Wed Aug 14, 2013 (Reuters) - Iron ore mining group African Minerals (AMIq.L) surprised the market on Wednesday with the abrupt departure of both chief executive and chief financial officer and said it was scrapping expansion plans to focus on existing operations. Its shares fell almost 15 percent despite what some analysts said could prove a positive as the company concentrates on its Sierra Leone mine, Tonkolili. "From the onset it was clear that (Chief Executive Keith)Calder's broader ambition was to grow African Minerals into a diversified miner across West Africa in the near term," Jefferies analysts said in a note. "Perhaps our greatest concern for African Minerals in recent months was that the company would move too...
(Voice of America 08/13/13)
NAIROBI — The United States is keeping a close watch on potential European trade deals with African nations as Washington reviews its own preferential trade initiative with the continent. African ministers and U.S. officials discussed trade relations at a forum Monday in the Ethiopian capital Addis Ababa. The U.S. is considering an extension to the popular African Growth and Opportunity Act, known as AGOA, an American law that allows sub-Saharan African countries to export certain products to the United States duty free. First signed into law in 2000, the act has already been renewed once, and is set to expire in 2015. U.S. Trade Representative Michael Froman has been meeting with African ministers at an AGOA forum in Addis Ababa...
(Reuters 08/09/13)
LONDON | Fri Aug 9, 2013 (Reuters) - Goldman Sachs (GS.N) has appointed Alasdair Warren as head of its financial sponsors group for Europe, Middle East and Africa (EMEA), according to a memo seen by Reuters. Financial sponsors, the term investment banks use to describe private equity firms, are regular users of equity capital markets for selling shares in their portfolio companies. London-based Warren, who joined Goldman in 2005 and was named a partner in 2008, was previously head of equity capital markets (ECM), convertibles and equity derivatives for EMEA. Richard Cormack and Christoph Stanger will jointly take on that role, becoming co-heads of ECM and convertibles in EMEA, the memo said. A spokeswoman for Goldman Sachs confirmed the contents...
( FOROYAA Newspaper 08/07/13)
With its abundance of natural resources and large and growing population , Africa is the next frontier for many global companies. However, while investors are keen to get, there's often a wariness on the part of Africans. The BBC's Vineet Khare travelled to Ethiopia to find out about what can be a tricky relationship and how things are not always so rosy. Watch the video...
(Business Daily 08/06/13)
The top-ranking US trade official Michael Froman said on Monday that issues of "reciprocity" will be raised at a US-Africa conference next week in Ethiopia that will consider renewal of the Agoa trade initiative. The African Growth and Opportunity Act, which is due to expire in 2015, gives duty-free treatment to Kenyan textiles and many other African exports to the United States. Agoa is said to be responsible for creating thousands of jobs in the Kenyan textile industry. But as a condition to Agoa's extension beyond 2015, American negotiators may press African countries to give the same preferential treatment to US exports to Africa. Ambassador Froman made clear in a talk at the Brookings Institution in Washington that the US...
(Reuters 08/06/13)
LAGOS/SYDNEY, Aug 6 (Reuters) - Nigeria is gradually opening up to Islamic finance, a move that could bring non-interest banking to over 80 million Muslims and develop one of Africa's fastest-growing consumer and corporate banking sectors. Home to the largest Muslim population in sub-Saharan Africa, Nigeria is trying to establish itself as the African hub for Islamic finance, which follows religious principles such as bans on interest and gambling. In recent months, a string of regulatory initiatives have set the groundwork for products such as Islamic bonds (sukuk), insurance (takaful) and interbank lending products, although there is still only a small number of local market participants. "The potential is there but the market is negligible in Nigeria because we have...
(African arguments 08/02/13)
UK Minister for Africa, Mark Simmonds, has stated that the government will not intervene directly in Barclays Bank's decision to withdraw banking services to Money Service Businesses (MSBs) including those that provide remittance services to Somalia, but said he hoped that a 'market-based solution' could be found. Simmonds stated in a letter dated 18th July to SOAS academic Laura Hammond (and shared with African Arguments) that "the government would not be able to intervene on behalf of a particular company or 'remittance corridor'". He was responding to a letter submitted by Hammond on behalf of 105 academics, researchers and practitioners calling on the UK government to intervene to prevent the collapse of remittance flows into poor and fragile states, particularly...
(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...

Pages