South African Wine Exports on the Rise

South African wine exports are on the rise again, reflecting a 16 percent volume increase for the first 11 months of 2007 compared with the same period in 2006, according to industry body, South African Wine Information and Systems (SAWIS). According to the organization, exports for the full year are expected to exceed the 300-million litre mark, despite the highly competitive nature of the international market, which would be a record for the country. Another positive trend is that the country's global reach has widened, significantly diversifying risk. Five years ago, 72% of the country’s packaged exports went to just the UK and the Netherlands, the net has widened so that the UK, Sweden, the Netherlands, Germany and the US currently account for 70% of total export volumes. The UK remains our biggest export destination, with much of the growth taking place in the premium segment of the market. Sweden has become South Africa's second biggest market for packaged wine, while one of the strongest growth markets has been Germany, where volumes have jumped over 40%.

French Insurer Establishes Presence in South Africa

French reinsurer Scor Group has opened an office in South Africa to reinforce ties with the South African insurance market and to create a platform for expansion in Africa’s English and Portuguese speaking markets. The company said it believed the South African insurance market would continue to expand and that it wished to actively contribute to this expansion. According to its spokesman, the group aimed to enlarge its client base and solidify and diversify its regional portfolio in South Africa and countries such as Angola or Nigeria, with which it has long maintained relations, particularly through its activities in the oil and mining industries. The local office would offer regional clients a direct contact and easier and more effective access to its global reinsurance services in the non-life and life sectors.

One in Five African Doctors Now Work in Developed Countries

An article in Human Resources for Health journal presents data on the extent of African health workers’ working in developed countries. It uses destination-country census data to estimate the number of African-born doctors and professional nurses working abroad in the year 2000, and compares this to the stocks of these workers in each country of origin. The paper finds that approximately 35,000 African-born physicians and 70,000 African-born professional nurses were working overseas in a developed country in the year 2000. This represents about one fifth of African-born physicians in work, and about one tenth of African-born professional nurses. The fraction of health professionals abroad varies enormously across African countries, from one per cent to over 70 per cent according to the occupation and country. Countries with political stability and economic prosperity including Botswana and South Africa, managed to keep their doctors to a greater extent than those that experienced economic stagnation, instability and civil war. Kenya, Tanzania, and Zimbabwe all experienced decades of economic stagnation in the late 20th century and by its end, each had lost more than half of its physicians. http://www.eldis.org/go/country-profiles&id=35170&type=Document

Unilever to Introduce Sustainability-Certified Teas by 2015

Unilever, the world’s largest tea company, has pledged to introduce sustainability-certified teas across its brands by 2015. The company will certify its tea farm in Kenya, and then others in Tanzania and Malawi. Thousands of farms in Africa, South America and South-east Asia will follow. Certified tea normally commands 10 to 15 per cent higher prices at auction. Unilever therefore estimates it will be able to pay farmers £1.8 million more for its tea by 2010, and £3.6 million more by 2015. This will counter a 35 per cent drop in global tea prices over the past 25 years. Unilever buys 12 per cent of the world’s black tea.

Sandton to get Park Inn by 2010

Belgium-based Rezidor Hotel Group has announced plans to build a Park Inn hotel in Johannesburg's financial centre of Sandton by 2010 to complement the group's existing Radisson Hotel Sandton, which is due to open later this year. The Park Inn Sandton will feature 192 rooms and is expected to welcome its first guests in April 2010 - in time for the 2010 Fifa World Cup. Consisting of leading brands like Radisson SAS, Country Inn, Hotel Missoni, Park Inn and Regent, the Rezidor Hotel Group features almost 300 hotels in operation and under development in 47 countries worldwide. The Park Inn Sandton will be situated directly across the road from the Gautrain station, and will have the benefit of being the closest hotel to the underground station that will link commuters on South Africa's first underground railway system directly to the OR Tambo International Airport, Rosebank and Pretoria.

Ford to invest R1.5bn in South Africa

Ford Motor Company of Southern Africa (FMCSA) has announced plans to invest more than R1.5-billion to expand its operations in South Africa for the production of Ford's next-generation compact pickup truck and Puma diesel engine. The local arm of the US car giant said that the new investment would start in 2009 and be split between its assembly plant in Silverton, Pretoria and engine facility in Struandale, Port Elizabeth. Production of the new diesel engine is scheduled to begin in 2010, followed by production of the new pickup in 2011. FMCSA said the investment would increase annual production at its Silverton plant to 110 000 units, with approximately three-quarters of the vehicles being produced for export, primarily to markets in Africa and Europe. As part of the investment, FMSCA said it would continue working with the South African government to accelerate the development of the industry's current and future workforce. FMCSA currently has nearly 4 500 employees between its two manufacturing facilities, and expects to hire up to 500 additional employees by the time the realigned production kicks off in 2011. FMCSA, a wholly owned subsidiary of Ford Motor Company, first set up operations in South Africa in 1923.

CODESRIA Announces Small Grants Programme for Thesis Writing 2008

The Council for the Development of Social Science Research in Africa (CODESRIA) is pleased to announce the seventeenth competition under its Small Grants Programme for Thesis Writing. The grants are designed to contribute to the development of the social sciences in Africa, and the continuous renewal and strengthening of research capacities in African universities through the funding of primary research conducted by post-graduate students and professionals. In this connection, candidates whose applications are successful are encouraged to use the resources available under the grants to cover the cost of their fieldwork, the acquisition of books and documents, the processing of data which they have collected and the printing of their thesis/dissertation. As the Council has a strong interest in encouraging African researchers to engage one another on a sustained basis, recipients of the small grants will also be supported to order books and journals produced by African scholarly publishers, including CODESRIA itself. The Programme is open to graduate students and professionals currently registered in African universities preparing their theses and dissertations in all social science fields and in other disciplines involving social or economic analysis.The deadline for the receipt of applications is Friday 09 May, 2008. Applications found to be incomplete or which arrive after the deadline will not be taken into consideration. The independent Selection Committee charged with screening all applications received will meet in Dakar, Senegal, from 26 to 30 May, 2008 and the results of its deliberations will be announced shortly thereafter. http://www.codesria.org

Sasol in $1.2bn Mozambique Gas Venture

The Republic of Mozambique Pipeline Investment Company (Rompco) - consisting of Sasol, iGas and Compania Mozambicana de Gasoduto - has announced the construction of a R1.1-billion gas compression station to increase the delivery of natural gas delivery from Mozambique to South Africa by 20%, by the end of 2009. In a statement on Tuesday, Sasol said construction of the gas compression station, to be based at Komatipoort in South Africa, would increase gas delivery capacity from the current 120-million gigajoules a year to about 147-million gigajoules a year. The pipeline is designed to eventually have the capacity to transport 240-million gigajoules of gas a year The pipeline forms part of the US$1.2-billion Natural Gas venture inaugurated by former Mozambican President Joachim Chissano and President Thabo Mbeki in June 2004. The Rompco shareholding partners are the South African government through iGas (25%), the Mozambican government though Compania Mozambicana de Gasoduto (25%), and Sasol Gas (50%).

Angola Second Largest Exporter of Oil to China in 2007

According to statistics from the Chinese General Customs Administration, in 2007, Angola was the second largest exporter of crude oil to China, after Saudi Arabia. Angola’s crude oil sales to China rose 6.5 percent from the previous year.

South Africa to pilot Mass Literacy Campaign

South Africa is set to pilot a mass literacy campaign targeting 300,000 adults and youngsters across the country this year. During his State of the Nation address at the opening of Parliament, President Thabo Mbeki said the Kha Ri Gude campaign would be piloted this year before being rolled out fully in 2009. Mbeki said skills development was one of the government's "apex priorities" for 2008. It would involve key interventions in South Africa's Further Education and Training colleges, Sector Education and Training Authorities (Setas), and the Joint Initiative for Priority Skills Acquisition (Jipsa). It would also involve "resourcing schools in the lowest three quintiles, freeing them from the responsibility to charge fees, and speeding up on-the-job training for professional graduates". The President said that projects under Jipsa - launched in 2006 to deliver on the skills requirements of government's Accelerated and Shared Growth Initiative for South Africa (Asgi-SA) - would be intensified this year. He also praised South Africans companies for helping the government to address the country's skills shortage. In 2006/07, the Department of Labour spent R37.8-million on providing adult basic education and training to almost 20,000 unemployed South Africans. The government also spent R316-million on grants for 10,900 students placed on learnerships, apprenticeships and internships, and R78.5-million on bursaries for 1,148 undergraduate and 1,042 postgraduate students.

Mali gets $42M for Poverty Reduction Efforts

The World Bank's Board of Executive Directors has approved International Development Association (IDA) funding in the amount of US$42 million for Mali's Second Poverty Reduction Support Credit (PRSC II). The PRSC II is the second in a series of operations to support implementation of Mali's Growth and Poverty Reduction Strategy Paper (GPRSP), and focuses on maintaining a stable macroeconomic framework, improving the overall management of public expenditure, and expanding access to basic social services, with a view to achieving the Millennium Development Goals (MDGs). With regard to this agenda, the PRSC II continues and deepens support to the Government of Mali while implementing the next steps of the reform program that it is supporting, which includes strengthening the links between the GPRSP and the macroeconomic and budgetary structures, with emphasis being placed on results-based budgeting and strengthening public financing management, including procurement; improving the business climate and creating a solid foundation for private-sector-led growth through the financial and private sectors, the facilitation of transport and transit, electricity, cotton, and irrigation in the Office du Niger zone; and strengthening orientation toward sectoral Medium-Term Expenditure Framework (MTEF) results, particularly in the areas of health, sanitation, and rural water supply, and strengthening the links between MTEF priorities. In recent years, Mali's economic performance has been sound and it has, in broad terms, achieved solid macroeconomic stability; poverty has declined significantly and health and education social indicators have improved, as evidenced by the fact that school enrollment in the country is increasing; infant mortality has declined and the upward trend in the HIV/AIDS pandemic figures has been reversed. Access to water has also increased and progress had been made in the area of governance. The PRSC II will strengthen this progress and will continue the reform program, focusing on improving the investment climate as well as growth and expanded coverage of essential services in order to expedite progress toward achievement of the MDGs.

China Formally Opens Embassy in Malawi

China has formally opened a new embassy in Malawi, after the country announced it was switching its diplomatic allegiance from Taipei to Beijing. Tobacco, commonly called "green gold" here, is the country's top foreign exchange earner. Taiwan and China split in 1949 after a civil war and have since vied for international recognition as the rightful government, with Beijing regarding the island as part of its territory awaiting reunification. Malawi became the fourth African country to switch diplomatic allegiance to Beijing since 2000. Taiwan now has only 23 allies worldwide, five of whom are African states.

Merck & Co., Inc. Vice President of Corporate Responsibility Appointed New Chairman of the Board of the Corporate Council on Africa

The Corporate Council on Africa (CCA) has announced the appointment of Dr. Jeffrey L. Sturchio as the new Chairman of the Board of Directors. Dr. Sturchio is Vice President, Corporate Responsibility, at Merck & Co., Inc. Dr. Sturchio, who will succeed Mr. Maurice Tempelsman as the Board Chair, has served as CCA Board Vice-Chairman since 2006 began his new role in February 2008. Mr. Tempelsman, Chairman of Lazare Kaplan International, Inc., served as CCA Board Chairman from 1999-2001 and 2007. As Chairman, Dr. Sturchio will lead the organization's Board of Directors, which includes leaders from the U.S. private sector and internationally-focused organizations. Dr. Sturchio has been centrally involved in Merck’s participation in the UN/Industry Accelerating Access Initiative to help improve HIV/AIDS care and treatment in the developing world. www.africacncl.org

Angola to Repay Debts

Angola will pay Paris Club creditors US$ 1.8 million in late interest payments before January 31, 2010, according to the payment schedule established with the chairman of the Paris Club. This lays the groundwork for re-establishing relations between Angola and the international financial community. The decision will be the basis for re-launching relations with the Angolan government. The amount will be paid in three payments. The first disbursement of US$ 800 million will be paid by January 31, 2008 (divided as follows: France US$ 314,840,479; Spain US$ 131,454,257; Holland US$ 87,488,846). Among the next largest creditors receiving part of the first payment are Italy (US$ 68.9 million), Sweden (US$ 48.7 million), and the UK (USD 48.4 million). The second payment, totaling USD 600 million, will be made before January 31, 2009, and the third totaling USD 400 million will be made by January 31, 2010. The creditor list is comprised of 14 countries, including, France, Spain, Holland, Italy, Sweden, UK, Denmark, Austria, Belgium, Japan, Canada, Finland, Sweden, and Norway. Angola has gained greater credibility among international financial institutions. Clearing these debts will re-open lines of credit, which are important during its reconstruction.

South Africa’s Standard Bank Begins Operation in Angola

South African banking group, Standard Bank, is expected to begin operation in Angola this year and will focus its activity on investment and retail banking. The bank is awaiting authorization from the Angolan Government. Standard Bank will seek Angolan investors for a partnership in which the bank will hold 51 percent. The bank will focus its initial strategy on corporate investment banking, before moving into the retail segment. The initial capital of the bank is US$ 25.5 million, which could increase to US$ 50 million in two years, with the entry of Angolan shareholders. The Standard Bank was set up 144 years ago and is located in 138 countries, 18 of which are in Africa.

Endiama to Produce Ten Million Carats of Diamonds

Angola’s state-owned National Company of Diamonds, Endiama, plans to increase its annual production from nine million to ten million carats of diamonds in 2008. The country’s diamond production in 2007 reached 9.7 million carats, estimated at USD 1.3 million. The most productive province in terms of volume was Lunda Sul, due to the creation of the Catoca Project, which represents more than 60 percent of the country’s diamond production.

Chinese-African Trade Rises to $74 Billion

The value of trade between China and Africa had increased by 24% to $74 billion between 1995 and 2007 according to figures released by the Trade Law Centre of Southern Africa (Tralac). A researcher at Tralac, Taku Fundira, says Chinese imports from Africa increased by 27% over the review period while Chinese exports to Africa increased slower at 23%, which has resulted in a small trade deficit of $1.1billion for China with Africa in 2007. These figures show that Angola and South Africa at 19%, Sudan (8%) and Egypt (6%) were China’s biggest African trading partners over the period. The top Chinese imports from Africa in 2007 were mineral products (80%), base metals (4%), precious stones and metals (4%), wood products (2%) and auto parts (2%). The top Chinese exports to Africa in 2007 were clothing and textiles (13%) followed by machinery (9%), transport equipment (7%), base metals (2%) and footwear (2%).

Ai Tourism Investor Awards Announced

The winners in the Ai tourism Investor Awards included: Tourism Investment Programme of the Year – EC-Botswana Government Infrastructure Development Deal (Botswana), Business Resort of the Year – Emaar Properties (United Arab Emirates), Tourism Promotion Agency of the Year – Trade and Investment KwaZulu-Natal (South Africa), Hospitality Management Team of the Year – Protea Hotels (South Africa), Sustainable Tourism Investment of the Year – Cradle of Humankind World Heritage Site and Dinokeng Blue-IQ Projects (South Africa), Best Initiative in Facilitating SME Tourism Investment – Tourism Enterprise Programme (South Africa), Hotel Investment of the Year – IFA Hotels and Resorts (South Africa).

USB to launch Africa Centre for Dispute Settlement

A centre for training mediators and teaching the concept of dispute settlement was opened at the University of Stellenbosch Business School (USB) in February 2008. Called the Africa Centre for Dispute Settlement (ACDS), it will provide an African hub for academic research, development and teaching of dispute settlement theory and practice. The Centre will provide an environment where practice and theory in dispute settlement is given a proper academic underpinning. Through its partnership with Equillore Ltd (formerly known as The Arbitration Forum), a public company that has for the past 10 years been commercially active in the field of enabling dispute settlement, the Centre combines academic excellence with real-world practical experience. The purpose is to become a change agent in the way people think and act in relation to dispute settlement. The Centre plans to focus on Africa and ensuring that African heritage and values are incorporated into developing solutions that suit African conditions. The types of disputes are far ranging and include family, labour and commercial disputes.

Africa's Great Green Wall Project takes Step Forward

A two-day international conference on the Great Green Wall project, with the support of the Africa Union, NEPAD and the Community of Sahel-Saharan States (COMESSA), was opened by the President of Senegal, Abdoulaye Wade, in Saly, Senegal, in February 2008. It brought together experts and academics from the region, ministers from countries interested in the project, representatives from the African Union, NEPAD and partners including the World Bank, the African Development Bank and the European Union, among others. The Great Green Wall was first suggested by then President Obasandjo of Nigeria at the 7th ordinary session of Heads of States of COMESSA held in Ouagadougou, Burkina Faso, in June 2005. The African Union adopted the project at the Summit of Heads of State and Government held on 29-30 January 2007 in Addis Ababa, Ethiopia. The idea is to establish a 15km wide and 7,000km long Great Green Wall across Africa from Dakar in Senegal to Djibouti, as a significant component of the NEPAD Environment Action Plan. It is perceived as a strip of multi-species vegetation crossing Burkina Faso, Mali, Mauritania, Niger, Nigeria, Senegal, Chad, Sudan, Ethiopia, Eritrea and Djibouti.

Strong support for NEPAD Fish programme

Because of the critical importance of fisheries and aquaculture for the food security of more than 200-million Africans, the Technical Centre for Agriculture and Rural Co-operation (CTA) has decided to support the NEPAD Fish programme. The CTA is a joint body of the European Union and the African, Caribbean and Pacific group (ACP). More than 200-million people in Africa rely on fish as an essential part of their diet. The sector also provides incomes for over 10-million families engaged in fishing, processing and marketing. The sector is moving rapidly, with aquaculture growing exponentially in a number of countries and fisheries changing their production and marketing strategies in response to the rising demand for fish. The NEPAD Fish programme, in collaboration with the Regional Universities Forum for Capacity Building in Agriculture, seeks to improve the understanding of the innovation system in the fisheries and aquaculture sector. The output from the research will advise policy-makers in a number of pilot countries how to target investments in science, technology and innovation, as well as in more effective training.

South Africa Announces Significant Relaxations of Exchange Controls

Significant relaxations of exchange controls regarding outward investment by South African residents have been announced in South Africa’s 2008 Budget. Existing rules that prohibit companies, trusts, partnerships and banks from buying rand futures or inward listed instruments will be abolished. The current system, which obliges institutional investors (such as pension funds, insurers and unit trusts) to apply for Reserve Bank approval before they are allowed to invest offshore, will be changed to a system of "prudential" guidelines, whereby a "system of quarterly reporting and monitoring of foreign exposures by the Reserve Bank" will be implemented. An amount will be set aside for tax incentives to be used over three years in support of sectors identified as vital to the emerging South African industrial strategy and tax incentives available for investments in Urban Development Zones will be extended for a five-year period until March 2014. New tax incentives are proposed for investors in qualifying small enterprises and start-ups and targeted enterprises are high growth and high-tech companies with an annual turnover of up to R14 million or gross assets of up to R7 million.

World Bank to Provide Support for Energy Development in Angola

The World Bank’s Oil, Gas, and Mines Division is working with the Angolan Government to facilitate the growth of domestic energy in gas. The investments of private entrepreneurs in the mining industry have also helped support the Angolan Government’s efforts to promote development.

Central de Cervejas Invests US$ 200 Million

Central de Cervejas, a beverage company owned by Britain’s Scottish & Newcastle, plans to invest approximately USD 200 million in opening beverage manufacturing plants in Angola. The company has initial plans to build three plants (in Luanda, Benguela, and Malanje), in partnership with ESCOM and Angolan investors. The plants will have the capacity to produce 120 million to 150 million liters per year, with the target of reaching 20% of the Angolan market.

Toyota SA to export 147,000 cars to Europe and Africa

More than 147,000 Toyota automobiles will be made in South Africa and exported to Europe and Africa in the coming year. This year the automotive giant is to manufacture a total of 220,000 units of which 147,000 would be exported, it announced in Durban, at a ceremony commemorating its first passenger vehicle exports to African and European countries. The first exports of Toyota Corolla Sedans were to Turkey, with the first shipment leaving Durban's harbour. About 4,000 new job opportunities have been created by the initiative. The company employs around 10 000 people in South Africa. Investments by the company in South Africa gave the company a R20 billion export potential. This is almost the equivalent of 1 percent of South Africa's current gross domestic product. The 147 000 units Toyota intended exporting in 2008 would account for 60 percent of the country's vehicle exports.

South Africa Concerned about Decreasing Numbers of Health Workers

South African Health Minister Manto Tshabalala- Msimang has called for urgent action to address the current disparities in the number of health workers in Africa and the developed countries. This follows shocking figures presented during the first Global Forum on Human Resources for Health held in Kampala, which revealed that while Africa has 11 percent of the world population and carries 24 percent of the world's disease burden, it only has 3 percent of the world's health workers with many of them continue to be lost to migration. According to Minister Tshabalala-Msimang, South Africa will continue to use its position as the chair of the African Union Ministers of Health to urge for the cessation of further depletion of Africa's human resources for health. According to a World Health Organinsation (WHO) fact-sheet presented at the conference, on average, one in four doctors and one in 20 nurses trained in Africa have migrated and are now working in developed countries. In Canada, New Zealand, United Kingdom and United States, a quarter or more of all physicians have been imported from other countries. The report revealed that developed countries are also making a significant saving in training costs by recruiting from developing countries, particularly in Africa. The medical journal, Lancet, illustrates the extent to which developed countries are unfairly benefiting from the current migration trends, using the example of Ghana and United Kingdom. Lancet reports that between 1998 and 2002, Ghana lost 35 million pounds of its training investment in health professionals to the UK while the UK saved 65 million pounds in its own training costs. The report further said migration and other factors have led to very low health worker/patient ratio in the continent compared to developed countries. The World Health Statistics indicates that while developed nations have one doctor for less than 500 people, in worst affected countries in Africa the ratio is one doctor to 50 000 people. In 2004, South Africa had 34 8000 doctors, the highest in sub-Saharan Africa following Nigeria with 34 900. South Africa also had the highest number of nurses in the sub-Sahara at 184 000 (followed by Nigeria at 127 500) and had the highest number of pharmacists at 12 500 (again followed by Nigeria at 6 300).

Uganda completes the final stages of its Peer Review

A Country Review Mission of the African Peer Review Mechanism (APRM) has completed a three-week visit to Uganda following on the country’s Self-Assessment Report and Programme of Action. The objective of the mission was to ascertain the extent to which the report and programme reflect the views of the people of Uganda and ownership by the people right up to the top level. The mission – nine men and five women from 13 African countries – was led by Prof. Adebayo Adedeji, Chairperson of the APR Panel of Eminent Persons and a former Under-Secretary-General and Executive Secretary to the United Nations Economic Commission for Africa. The team consulted widely with a cross-section of stakeholders including the private sector, government institutions, government ministries, statutory bodies, judiciary, Parliament, civil society, the diplomatic community, the Juba peace talks team, and the general public. It also held four regional consultations. Following the completion of the mission, a Country Review Report will be produced to which the Ugandan Government will make a formal response within 21 days of receiving the report.

Angola-Telecom to Install New Telephone Booths Countrywide

In 2008, Angola-Telecom intends to install 1,000 telephone booths that will be distributed amongst the country’s 18 provinces. The telephone boxes will arrive by the middle of the year, and will be installed by the end of the year. Currently, there are only about 500 telephone booths countrywide.

African First Ladies form a Conflict-Resolution group

Wives of African heads of state have formed a conflict resolution group to support initiatives to restore and strengthen peace on the unrest-prone continent, IRIN reported. The African Network of Women Peace Negotiators was created on 15th February in the Congolese capital, Brazzaville, at the sixth conference of the African First Ladies Peace Mission, known by its French acronym MIPREDA, which was launched in 1997 in Nigeria to advocate for peace, stability and harmony in Africa. The first ladies condemned the violence meted out to women and girls during conflicts, particularly in the Darfur region of Sudan, Somalia, eastern Democratic Republic of Congo and recently in Kenya and Chad Turai Yar’Adua, wife of Nigeria’s President Umaru Musa Yar’Adua, was elected to head the organisation.

Tony Blair to help Rwanda Build Economy

Former UK Prime Minister Tony Blair has said he will help Rwanda attract private investment as it seeks to build its economy. According to the BBC, Mr. Blair visited Rwanda in February for the first time since offering himself as an unpaid adviser to its president, Paul Kagame. Rwanda is recovering from the results of the 1994 genocide, when some 800,000 Tutsis and moderate Hutus were killed.

Private Equity Boosts Foreign Investment in South Africa

Foreign direct investment (FDI) in South Africa rose 400% last year as a result of strong Asian demand for African commodities. Inward FDI jumped from R18bn in 2006 to R82bn last year. There was increased investor interest in the mining sector with the launch of a $1,3bn private equity fund by Pamodzi Investment Holdings, which would focus on high-return investment opportunities in resource and resource related sectors, primarily in Sub-Saharan Africa. Last year also saw a rise in shareholder activism. Three deals really cemented the extraordinary power of institutional shareholders in SA and their increasing propensity to use this influence. The deals were the bid by Steinhoff for furniture retailer JD Group, the bid for Rainbow by conglomerate Remgro and Brait's private equity bid for Shoprite.

South Africa Lowers Financial Barriers to Learning

The South African Minister of Education Naledi Pandor has announced that universities would receive R3.6 billion from the government in addition to the annual government subsidy and that 60% of schools would be no-fee schools by 2009. The additional funds for universities are also expected to help soften the impact of fee increases. The decision follows a 2004 finding that subsidy levels have not followed inflation trends and thus have become increasingly insufficient, particularly for institutions that are heavily dependant on government. According to the Higher Education South Africa’s (HESA) Economic Impact Study published in 2007, government subsidy levels range between 32 percent to 57percent of an institutions income, depending on the institution’s alternative sources of income. Of the R3.6 billion, a total of R439 million has been assigned to the four leading universities of Pretoria, KwaZulu-Natal, Stellenbosch and Witwatersrand to increase graduates in engineering degrees. The allocation is based on their previous graduation and success rates, especially of black students. A total of R783 million has been allocated to increasing graduates in sector education and training programmes at 10 universities. These included the universities of Zululand and the Free State. Fourteen universities will get R2.1 billion to improve infrastructure and the quality of teaching. The extension of the no-fee schools system is expected to make education more accessible than ever before to South Africa’s poorest communities by exempting them from paying school fees.

South Africa and India Agreement to boost Trade in Agriculture

The South Africa and Indian government have approved the signing of a Memorandum of Understanding on agricultural cooperation. The aim of the MoU is to boost trade between the two developing economies by promoting further bilateral cooperation through joint activities and exchanges. The MoU will cover various areas of agriculture, including animals, fisheries, poultry, agricultural extension, land and water management and its conservation, promotion of agricultural trade and investment and will be valid for a period of five years. During discussions held between the two countries, the existence of opportunities for closer co-operation were identified in sectors including capital equipment; agro-processed products; information and communications technology (ICT), science and technology; health; and small, medium and micro enterprises sectors. India is among the top 10 investing countries in South Africa, with investment estimated at R10 billion. Total trade between South Africa and India increased from 2004 to 2005, with exports rising by 100 percent and imports rising by 55 percent, making India South Africa's 13th-largest trading partner in terms of exports and imports.

Bank of Ghana Raises Minimum Capital Requirements for Banks

Following broad consultation with the banking industry on proposals embodied in the Bank of Ghana’s Consultation Paper on minimum capital requirements, the Bank of Ghana has set the minimum capital requirement for obtaining a Class 1 banking license (universal banking) at GH¢60 million (approx. $61m.). The current minimum capital requirement is GH¢10million. Existing banks are required to attain a minimum capitalization of GH¢ 60 million by December 31st 2009. Ghanaian-owned banks have been given a longer time period to meet the new minimum capital requirement. Under the directive, banks with local majority share ownership will have to attain a capitalization of at least GH¢ 25 million by the end of 2010 and GH¢60 million by 2012. The capitalization requirement constitutes part of the Bank’s strategy to deepen the financial sector and support Ghana’s drive for accelerated growth to achieve middle-income status.

Rwanda Stock Exchange Lists First Corporate Bond

The nascent Rwanda Stock Exchange has received a major shot in the arm with the listing of the bourse's first corporate bond, a five billion Rwandan Francs ($9.3 million) five year note by Banque Commerciale du Rwanda (BCR). Banque Commerciale du Rwanda (BCR) is 80 per cent owned by emerging markets' private equity fund, Actis, and has been named as the Best Bank in Rwanda by Banker's magazine in 2006 and last year. This brings to three the number of bonds listed at East African's newest stock exchange launched on January 31. The Rwandese Government listed the other bonds on the stock market's inauguration; two 5billion Rwandan Francs ($18.6 million) treasury notes. So far the three bonds are the only listed securities at the stock exchange, though the Rwanda Stock Exchange executive director, Robert Mathu, says the bourse is targeting at least six companies this year - most probably government owned companies slated for privatisation this financial year.

Evaluating Africa’s Seven ‘Success Stories’

This paper evaluates the seven presumed African success stories: Botswana, South Africa, Zambia, Ghana, Tanzania, Mozambique and Uganda. It gives a detailed analysis of the economic, political, governance and human development scenarios in each country, and identifies the emerging challenges. http://www.eldis.org/go/country-profiles&id=35528&type=Document

Call for Papers for bi-annual Academic Journal, Critical Half

Woman for Women International, a non-profit humanitarian organization, is calling for papers for bi-annual academic journal, Critical Half. This issue will focus on global women’s movements and women’s movements globally in various contexts, including politics, women’s rights, social change, religion, and economic endeavors. Women’s movements may be global in their organization or effects, as in the international feminist movement, or they may be global in their concerns but local or ‘grassroots’ in their organization and immediate impact. Papers might consider the genesis and logistics of women’s movements; the underlying ideological concerns which give rise to and sustain, or counteract, these movements; or the interaction of women’s movements with local, regional, and global organizations, such as religious groups, political parties, or local or international local women’s groups. Papers which address issues of women’s movements in conflict and post-conflict societies, developing countries, and trans-national contexts are particularly encouraged. http://www.womenforwomen.org/cfpapers.htm

Kigali Protocol for the NEPADICT Network comes into force

The protocol on the policy and regulatory framework for the NEPAD ICT Broadband Infrastructure Network -- known as the Kigali Protocol -- came into force on 13 February 2008, when it was signed by the President of Malawi, Bingu Wa Mutharika, in Lilongwe. Malawi became the seventh country to ratify the protocol. Other countries that have already ratified the protocol are: Lesotho, Mauritius, Rwanda, South Africa, Tanzania, and Zimbabwe. The NEPAD e-Africa Commission, tasked with developing ICT policies, strategies and projects, and managing the development of the ICT sector, has been coordinating the signing and ratification of the Kigali Protocol. This development means is that the project can now go ahead to implement the NEPAD ICT Broadband Infrastructure Network, comprising of UHURUNET (the submarine cable), and UMOJANET (the terrestrial segment), to provide quality and affordable telecommunications connectivity to Eastern and Southern Africa and to the rest of the African continent. It is envisaged that once implemented, the NEPAD ICT Broadband Infrastructure Initiative will greatly reduce the costs of telecommunications and increase the efficiency and effectiveness of how Africa does business with the rest of the world.

Kenyan Firms Register On Rwanda Stock Exchange

At least four Kenyan stockbrokers have acquired licenses that grant them membership to the region's youngest stock market - the Rwanda Stock Exchange (RSE).The four, Faida Investment Bank, African Alliance, Dyer and Blair and Tsavo Securities, have all registered local subsidiaries with the RSE, which has so far licensed only seven stockbrokers. The Rwandese bourse has three licence categories; stockbrokers and dealers; who have access to the trading floor, sponsors; whose main task is to attract and offer transaction advisory services to potential investors or listing candidates, and investment banks. Licensing of the Kenyan stockbrokers by RSE underpins Rwanda's publicly stated business policy of opening up to all foreign investors as the country battles to repair an economy that was battered by genocide about 14 years ago. The Rwandese economy has been growing at an average rate of about seven per cent in the past 10 years.

Corporate Tax Reduced in South Africa

South African Finance Minister Trevor Manuel has announced a one percentage point cut in the corporate tax rate, a dramatic move costing R5bn, which is expected to boost investment and the stock market. Business has long lobbied for a cut in the rate to 28% to make South Africa's corporate tax rate more competitive internationally. Mr. Manuel also announced the most drastic ever relaxation of foreign exchange controls for institutional investors and replaced it with a system of prudential regulation. Other announcements included a R60bn state contribution for Eskom's R343bn capital investment over the next five years; R7,2bn in individual tax relief to compensate for fiscal drag; and a new levy of 2c per kWh on the sale of coal-generated electricity. This tax will be paid by consumers and could be introduced as early as July. The Rand weakened to five-year lows at R7.87 against the dollar, just minutes after the market learnt that exchange controls had been eased.

Zeco IPO Oversubscribed

Zimbabwe Engineering Company Holding’s (ZECO) initial public offering (IPO) has been oversubscribed by one and a half times after receiving bids in excess of Z$50 trillion for the subscription of over 800 million shares. The IPO was for 20% of Zeco's total issued share capital which is currently valued at Z$101 trillion and should have raised almost Z$20.15 trillion for capital expenditure outlays and working capital requirements. The money will be used in the group's major subsidiaries, Delward which traded as Zeco Engineering and Critall Hope.