Development
RSS FeedAfrica: Major continental infrastructure programme endorsed
2012-02-05, Issue 568
African Heads of State have endorsed the launch of the Programme for Infrastructure Development in Africa (PIDA), a multi-billion dollar initiative that will run through 2040. In a statement at their 18th summit held in the Ethiopian capital, Addis A...
Angola: Angola wants restructuring of Portugese bank
2012-01-31, Issue 568
Angola's state-controlled oil company Sonangol - the largest single shareholder in Portugal's Millennium bcp - wants the bank to gain global scale in a restructuring that involves a management shakeup, Expresso weekly said. The lender - Portugal's la...
Namibia: Illicit flows cost Namibia N$6-billion
2012-01-31, Issue 568
Namibia is estimated to have lost US$750 million (over N$5.8 billion) between 2000 and 2009 in illicit dealings such as trade mis-pricing, tax evasions, corruption, bribery and kickbacks. The syndicate - reports research and advocacy group Global Fin...
Zambia: Libya's stake in Zamtel nationalised
2012-01-31, Issue 568
Libya will do all it can to protect its 75 per cent stake in Zamtel, the fixed-line telecoms firm in Zambia, whose government announced plans last week to seize Libya's stake in the firm, Libyan Foreign Minister Ashour bin Khayyal said Monday. 'The Z...
Tanzania: Donors scale back budget support
2012-02-01, Issue 568
Donors and development partners have reduced their General Budget Support (GBS) to the government as they announced a commitment of 800bn/- for the 2012/2013 financial year. The support has slightly been scaled down compared to the 1.1tr/- pledged fo...
Global: How male global elites work hard to fix the economy
2012-02-01, Issue 568
Meet the Davos Man in this www.alternet.org article and hear about the same old song being played at the recent World Economic Forum. With global retrenchments and a Eurozone in crisis, was system change a subject f...
Angola: Sonangol, banks interested in Portuguese companies
2012-01-24, Issue 567
Angola's state-owned oil company Sonangol EP and some of the African country's banks are interested in stakes in Portuguese companies, Angolan Economy Minister Abraao Gourgel said. Angolan companies and investors have been increasing their stakes in ...
Lesotho: Economy catches flu rom South Africa’s sneeze
2012-01-24, Issue 567
South Africa’s economic difficulties are placing Lesotho’s economy at a crossroads, as the government struggles to push big rocks up the mountain to balance the national budget. Lesotho is wrestling with a 30 per cent decline in domestic revenues and...
Africa: As Africa's consumers rise, so does inequality
2012-01-24, Issue 567
Even as rich countries face a slowdown, sub-Saharan African economies are expected to post nearly six per cent average growth in 2012, according to the IMF. But the wealth has a flip side, notes this Reuters article. 'The consumption boom has been fu...
Kenya: IMF advises Kenya to cut growing public
2012-01-25, Issue 567
The International Monetary Fund wants Kenya to slash its swelling public expenditure and increase its revenue base to cushion it from expected harsh economic conditions this year. The financial institution argues that the government should also conti...
Nigeria: Nigeria faces grave consequences, IMF warns
2012-01-25, Issue 567
The IMF has issued a blunt warning that unless the European economic crisis is resolved, the global economy faces another 1930s style ‘Great Depression’ which would negatively affect frontier markets including Nigeria. This followed the failure of Eu...
Malawi: $28 million being lost in fisheries resources
2012-01-25, Issue 567
Malawi is losing $28 million (about MK4.6 billion) worth of fisheries resources each year due to unsustainable fishing in natural bodies, an estimate which represents 0.8 per cent of Gross Domestic Product (GDP), according to the Ministry of Finance ...
Global: State of Corporate Power 2012
2012-01-29, Issue 567
Who are the global 1%? What companies do they run? How do they escape accountability? Check out the Transnational Institute's powerful infographic displays that expose the social and environmental costs of global corporate power. TNI, as part of its ...
Africa: Strong political will needed from African leaders to boost critical aspects of intra-African trade
2012-01-29, Issue 567
With the 18th African Union Summit taking place in Addis Ababa, civil society organizations from across Africa are concerned that the summit’s central theme, 'Boosting Intra- African Trade,' risks being overshadowed and will not get the focus needed ...
Nigeria: Shock full of nuts
2012-01-29, Issue 567
This article takes economist Jeffrey Sachs to task for an op-ed article in the New York Times in which he argued that despite continuing demonstrations against the government’s surprise decision on New Year’s Day to halt state subsidies of oil for mi...
South Africa: Door shuts on Zim imports
2012-01-17, Issue 566
Zimbabwean exporters must scramble to find new markets or risk commercial peril after South Africa slapped an effective import ban on a raft of products in a bid to protect local producers. South Africa is Zimbabwe’s leading market, accounting fo...
Tanzania: How 17 industries were privatised only to die
2012-01-17, Issue 566
Some 17 erstwhile public firms that were privatised under a plan initiated in 1993 in a bid to revamp production have so far been shut down after failing to deliver, a report released recently by a technical committee has revealed. The government had...
Africa: Africa sees positive economic growth in 2011
2012-01-17, Issue 566
Africa saw good economic results in 2011 with average growth of between 5.5 per cent and 6 per cent, African Union (AU) commission chairperson Jean Ping said on a visit to Libya. 'Africa progressed on average between five and a half and 6 per cent. W...
Global: World Bank warns of global growth slowdown
2012-01-18, Issue 566
The World Bank has warned the international community to brace for slow growth and economic challenges in 2012 stemming partly from Europe's debt woes. The bank substantially cut its forecasts for growth in both developed and poorer nations in its tw...
Egypt: Lending to repression, again
2012-01-19, Issue 566
For three decades Western governments and lending institutions bankrolled a corrupt regime in Egypt that trampled human rights and stifled democracy. Now they appear ready to do it again, say critics of the military council that has ruled since remov...
Tanzania: Activists submit recommendations on EPA
2012-01-22, Issue 566
Tanzania Ecumenical Dialogue Group (TEDG) has presented to the government a statement calling for Tanzania not to sign the Economic Partnership Agreements (EPAs) with Europe until contentious issues in its framework are sorted out. Addressing a press...
Southern Africa: What impact will EPAs have on sugar, grapes and cotton?
2012-01-15, Issue 565
The Economic Partnership Agreements (EPAs) that are being negotiated by the African, Caribbean and Pacific (ACP) countries on one hand and the European Union on the other are essentially Free Trade Areas covering trade in goods, services, trade relat...
Global: Breaking the mould
2012-01-16, Issue 565
There is now substantial evidence of the role of financial liberalisation in triggering financial crises, and on how these crises particularly affect the poor. Latin America is a clear example of a region that in the 1980s and 1990s, under the condit...
Libya: Questions loom for Libya’s sovereign wealth investments
2011-12-13, Issue 563
As Libya’s liberators come to terms with how to rebuild the country, three paths are emerging for the riches held in its sovereign wealth fund, according to a new report from international political consulting firm GeoEconomica GmbH. The question bec...
Mozambique: Dependence on foreign aid declining
2011-12-13, Issue 563
Mozambique's dependence on foreign aid is declining, Finance Minister Manuel Chang told the country's parliament, the Assembly of the Republic. Introducing the state budget for 2012, Chang said that only 39.6 per cent of public expenditure will be co...
Africa: Measuring capital flight
2011-12-19, Issue 563
'The magnitude of African capital flight is staggering both in absolute monetary values and relative to GDP. For the thirty-three sub-Saharan African countries for which we have data, we find that more than $700 billion fled the continent between 197...
Malawi: IMF squeezes Malawi to free Kwacha currency
2011-12-19, Issue 563
The International Monetary Fund (IMF) has minced no words but directed the Malawi government to institute a liberalised exchange rate regime as a way to manage the overvauled local currency, the Kwacha. This is contained in a report titled ‘Liberaliz...
Global: WTO Doha talks still deadlocked
2011-12-20, Issue 563
The World Trade Organisation wrapped up a ministerial meeting Saturday deadlocked on the Doha Round of negotiations for a global free trade pact, and some ministers calling for a new path. Launched a decade ago in the Qatari capital, the Doha Round o...
Africa: EPAs not a priority for Africa – AU
2011-12-06, Issue 562
The deputy chairperson of the African Union (AU) Commission, Erastus Jarnalese Onkundi Mwencha, says the structure of the Economic Partnership Agreement (EPA) between the continent and the European Union is not to Africa’s advantage. 'Our advantage i...
Global: Income inequality rises in OECD states
2011-12-07, Issue 562
Income inequality in South Africa as measured by the Gini co-efficient widened from the early 1990s to the late 2000s despite government efforts, according to the Organisation for Economic Cooperation and Development. In a report entitled 'Divided We...
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