UK Grants 4 Billion Birr Aid to Country, Political Arena a Concern - Minister

The UK Government announced a four billion birr grant aid to Ethiopia to support the provision of basic services, social protection and humanitarian assistance, Minister of State for International Development, Gareth Thomas, said on Tuesday at the premises of the UK Embassy here.

Ethiopia Denies Involvement in Capture of Oil-Rich Region

The Ethiopian government has dismissed claims by Ogaden rebels to have captured seven towns in the oil rich Somali region located in south eastern of Ethiopia.

Oxfam's Agricultural Scaling-Up Program Appropriate, Timely - Moard

Oxfam's Agricultural Scaling-Up Program is as appropriate and timely as it is in line with the current trust of the national development strategy, the Ministry of Agriculture and Rural Development (MoARD) disclosed.

Museveni Meets Meles Zenawi in Addis

PRESIDENT Yoweri Museveni and other African leaders yesterday agreed to ask for compensation from the rich industrialised nations during the climate change talks to be held in Copenhagen at the end of the year.

How Country Can Tackle Famine

A familiar story of looming famine is filtering out of East Africa.

Nigeria: Riot in Prison Over Bode George

Indications emerged, Friday, that it took what could have culminated into a violent riot at the Kirikiri Maximum Prison, Apapa, Lagos for prison authorities at Maximum Prisons, Kirikiri to formally hand over the popular prison blue-and blue uniform to convicted Chieftain of the ruling Peoples Democratic Party (PDP) and former Board Chairman of Nigerian Ports Authority, Chief Bode George.

Nigeria: Online Shop Launched

How would you like to sit in the comfort of your home and shop in major stores in the UK? Say for example, you sit in your home in Lagos, and shop at Marks and Spencer, Mothercare, TM Lewin or the Apple Store?

Africa: Industrialization Will Help Africa Fully Join World Economy, Says Ban

Armed conflict, inadequate infrastructure, weak governance, limited financing and technological abilities, and policies that stifle entrepreneurship, limit competition and raise the cost of doing business are hindering the industrialization that Africa needs to fully join the global economy, Secretary-General Ban Ki-moon warned today.

East Africa: It's Dawn of New Era for EA Region

Today marks a major turning point in the history of the revived East African Community.

Africa: Opacity Blamed for Bad Oil Deals in Africa

Campaigners from fifty countries from around the world meeting in Montreal, Canada to strategise on pushing further the frontiers of transparency in oil, gas, and mining industries, have blamed opacity in oil and mineral licensing for the bad deals natural resource-dependent countries are often saddled with.

Ghana: Golden Star Pays U.S.$8 Million Royalties to Govt in 2009

Golden Star Resources Ghana Limited announced on Thursday, November 12, this year, that during the third quarter of 2009, it paid US$3,127,398.42 in royalties to the Government of Ghana, out of production from the Bogoso/Prestea and Wassa Mines.

Zimbabwe: Disposal of Ariston Costs Delta

DELTA Corporation Limited, Zimbabwe's prime producer and distributor of alcoholic and non-alcoholic beverages, has suffered a US$2 million impairment from the disposal of its 30 percent stake in Ariston Holdings Limited at US$4 million.

Zimbabwe: Boardroom Wrangle Erupts at Aico

HAPPYMORE Mapara, the group chief executive officer (CEO) of AICO Africa Limited was this week sent on suspension pending investigations into the operations of the company after falling out with key shareholders at the Zimbabwe Stock Exch-ange (ZSE)-listed conglomerate.

Kenya: Barclays Profit Up to Sh6.6 Billion

Barclays Bank of Kenya has returned a 4.2 per cent growth in pre-tax profit for the nine months ending September 30, 2009, reflecting the impact of the economic slowdown on various sectors of the economy.

Kenya: Centum Posts Fall in Earnings

Centum Investment Ltd has reported a 72 per cent drop in pre-tax profit for the six months period ended September 30, 2009.

Botswana: Visiting Stanchart Bosses Defend Risk Averse Strategy

International banking group, Standard Chartered Bank says that its conservative approach to business is the reason why the bank has been successful over a long period of time and they are confident the strategy will continue to pay dividends in future.

Zimbabwe: Profit Takers Descend on Equities

The strong rally witnessed on the Zimbabwe Stock Exchange in the previous week immediately came under a check during the week ended yesterday, as investors descended on the high yielding investment market to pocket gains reaped in the preceding week that saw the market awarding the highest weekly return to investors since the beginning of the year.

Kenya: Barclays Profit Up to Sh6.6 Billion

Barclays Bank of Kenya has returned a 4.2 per cent growth in pre-tax profit for the nine months ending September 30, 2009, reflecting the impact of the economic slowdown on various sectors of the economy.

Zimbabwe: No British Investment Until GPA Fulfilment

BRITISH companies will only invest in Zimbabwe when all outstanding issues of the global political agreement are fulfilled, Britain's ambassador to Zimbabwe, Mark Canning, has said. In an interview with the Zimbabwe Independent in Gwanda this week, Canning said although companies were pleased with the gradual stabilisation of the economy since the formation of the inclusive government in February, the current political impasse was of great concern and was hindering significant investment.

Gambia: Gambia, US Bilateral Trade, Investment MOU Inked

The government of The Gambia through the Ministry of Trade, Industry and Employment and the United States embassy in Banjul as well as Trust Bank Limited and Eco Bank Limited, yesterday signed a Memorandum of Understanding (MoU) to promote bilateral trade and investment between the two countries.

Ghana: Osafo Maafo Lauds Re-Introduction of Rice Importation Taxes

A former Finance Minister in the previous administration of the New Patriotic Party (NPP), Mr. Yaw Osafo-Maafo has lauded the National Democratic Congress (NDC) government's decision to re-introduce the duty tax on importation of rice and other staple foods into the country. He has, however, cautioned the government to support local production to avert possible shortages.

Gambia: Islamic Scholars On Tobaski Ram Raffle

As Muslims brace up to observe the feast of Eid -Ul-Adha, commonly known as Tobaski, some private companies in the business sector have been deploying all types of marketing strategies with a view to luring potential customers to buy their products.

Gambia: Governor Touray Visits Brikama-Ba Market

The governor of Central River Region (CRR), Alhaji Ganyie Touray, accompanied by a high-powered delegation, on Wednesday, November 18, visited the ongoing construction work of the new Brikama-ba market in the Lower Fulladou District, CRR South.

Africa: Opacity Blamed for Bad Oil Deals in Africa

Campaigners from fifty countries from around the world meeting in Montreal, Canada to strategise on pushing further the frontiers of transparency in oil, gas, and mining industries, have blamed opacity in oil and mineral licensing for the bad deals natural resource-dependent countries are often saddled with.

Uganda: Oil Will Enrich Or Ruin Nation; And This is How

On October 16th 2009, University of Oxford's Prof. Paul Collier gave a talk at Serena Conference Centre in Kampala on the prospects of an oil windfall for Uganda. Below we produce a slightly edited version of his speech.