Sterling Bank Plc has raised investors' hope for brighter future with impressive half-year financial results, which indicate that pre-tax profit grew by 178 per cent. The unaudited results made available by the Nigerian Stock Exchange (NSE) show that the bank posted gross earnings of N17.39 billion for the half year ended March 31, 2008. This depicts a 79 per cent increase over the N9.705 billion recorded in the corresponding period of 2007. Apparently resulting from efficient resources management, all the bank's financial indicators witnessed an upward trend. While pre-tax grew from N1.329 billion to N3.69 billion, post-tax profit increased by 117 per cent from N1.112 billion to N3.082 billion. Further analysis of the performance shows that Sterling Bank surpassed its profit for the full year ended September 30, within six months. The bank had posted a net profit of N1.94 billion for the 12 months to September 30, 2007, which is its full year. However, with a net profit of N3.082 billion in the six months to March 31, 2008, the bank is already 59 per cent ahead of its 2007 full year performance.

Demand for fuel and electricity increased in tandem with the expansion in economic activities and domestic consumption. According to the 2008 Economic Survey, the total quantity of petroleum imports registered a 16.4 per cent increase to stand at 3.7 billion tones in 2007. The rise was driven by expansion in manufacturing and transport sectors, which were among the key drivers of growth. The number of vehicles registered surged by 61 per cent to 85,000 from 52,000 in 2006, driven by increase in buses and a rush to comply with the directive by Finance minister for vehicles to be registered before leaving the port. Total domestic demand for petroleum products went up by 2.8 per cent to 3.2 billion tonnes from 3.1 billion tonnes. This was, however, lower compared to the 12 per cent increase in 2006. The increased demand pushed up the bill for petroleum products by 7.1 per cent, compared to 18.9 per cent in 2006. Planning, National Development and Vision 2030 indicated that oil prices at the international market had increased from $62 per barrel to $90.6 per barrel in 2007, and had moved up to stand at over $120 per barrel presently. Total electricity generation grew by 7.3 per cent to 6.3GWh from 5.9GWh in 2006. This was attributed to the improved power generation from hydro, which grew by 19 per cent in 2007 compared to a reduction of 0.5 per cent in 2006.

The International Marketing Council of South Africa has launched a new web-based service for journalists and communication practitioners wanting to know more about the country in the lead-up to and beyond the 2010 Fifa World Cup. MediaClubSouthAfrica.com offers free access to content on the country, including a comprehensive image library. The website provides background and current affairs updates on South Africa's economic performance, socio-economic development and achievements across various sectors. It also profiles significant cultural and social trends, as well as phenomena that make South Africa a winning country. Registration on www.mediaclubsouthafrica.com is not required, except for full access to the image library, which offers hundreds of high-quality photographs of the country, its people, places, economy and stunning natural beauty, all available for use on the web or in print - free of charge. The International Marketing Council of South Africa, custodian of Brand SA, is a public-private partnership responsible for marketing the country internationally. Its content will be of a high standard, accurate and credible, allowing media practitioners either to use the content as is in their own publications, or as a resource with which to develop their own content.

The state-owned Petroleum Oil and Gas Corporation of South Africa (PetroSA) has increased the capacity of its planned crude refinery at the Coega Industrial Zone near Port Elizabeth from 250 000 to 400 000 barrels per day, with the plant now costing US$11-billion. The Coega refinery will be the lowest cost producer in sub-Saharan Africa due to economies of scale, use of proven world-class technologies and crude processing flexibility. According to the company, South Africa will already be experiencing a shortfall of locally refined products of about 200 000 barrels per day by the time the refinery is commissioned in 2014, due to the country's projected economic growth and low investment in existing refineries. The positioning of this highly competitive, world-class mega refinery would help diversify crude and product supply structures in South Africa by providing an essential strategic supply alternative to the country's main inland markets.

While Africa still lags behind other continents in telecommunications, the growth in recent years in mobile phones and internet connectivity has been extraordinary. Six countries - South Africa, Nigeria, Egypt, Algeria, Morocco, and Kenya - have more than 10 million mobile phones each, with South Africa and Nigeria each topping 40 million mobile phones. Seven countries -- Seychelles, Gabon, South Africa, Tunisia, Botswana, Mauritius, and Libya, have more than 70 mobile phones for each 100 persons, ranging from 89 percent in the Seychelles to 73 percent in Libya.

The Russian Diamond Mining firm, Al Rosa, is scheduled to rehabilitate the Luachimo Hydroelectric Dam in 2008, located in eastern Lunda Norte Province. The rehabilitation will include the construction of a new concrete structure and the installation of updated technology. Feasibility studies have been conducted to ensure viability of the project, which will comprise of two phases. The first phase will last one year, while the second one will last two years. After the rehabilitation, the hydroelectric complex will increase production to more than triple its current capacity.

The construction of new power plants across Angola, between 2009 and 2016, will require an investment of US$ 8.4 billion. The rehabilitation will provide electricity to the country and contribute to the industrialization of Angola.

In April 2008, Angola’s oil output ranked number one in Africa, surpassing Nigeria. OPEC data shows that, in April, Angola produced an average of 1.873 million barrels per day (bpd). At the end of April, Nigeria’s oil output stood at 1.36 million bpd, 40% of the installed capacity of the country. In 2007 Nigeria averaged nearly 2.4 million barrels per day, and has been Africa’s largest oil producer every year since 1978.

The city of Cape Town has been officially recognized as Africa’s leading destination, receiving an award during the prestigious World Travel Awards held at the Inkosi Albert Luthuli Convention Centre (ICC) in Durban. Considered the Oscars of the travel industry, the award recognises the tireless work of a team, striving towards making Cape Town a top global travel destination. The World Travel Awards were established in 1993 to acknowledge, reward and celebrate the enormous achievements in all sectors of the global travel industry and travel professionals and their clients regard the awards as the best endorsement that any travel product could receive.

Approximately US$ 100 million will be invested in the construction of new 3- and 4-star hotels in Huíla Province. The hotels are being built in preparation for the African Cup of Nations, CAN-2010, to be held in Angola. The investment will fund the hotels of Lubango, Serra da Chela, and Gundo One , where work has already begun. In addition, two similar hotels belonging to Seguradora Angola Agora e Amanhã (AAA) will be built. These hotels will make an additional 500 rooms and 900 beds available in Huíla, which is a substantial increase over the current capacity. Existing hotels in the region are also working to increase lodging and upgrade services.

Sickle Cell and Young Stroke Survivors a registered charity based in London, led by Mrs Carol Nwosu, has started a project in Owerri Imo State Capital called CarDan Sickle Cell Centre. The project, since its inception 3 months ago, has already brought a new lease of life to families’ affected by sickle cell disease by providing free drugs, information on management of sickle cell disease and counselling for patients and their families affected by Sickle Cell disease. The Centre has already reached out to dozens of down-hearted families and children who are affected by Sickle Cell disease, through the placement of jingles at different Radio and Television Stations in the country and also through the participation of the CEO in various TV and Radio programmes designed to sensitise the public about the importance of knowing their genotype to reduce the number of Sickle cell births and the coping and management of Sickle cell disease for parents and carers looking after affected children. CarolNwosu@aol.com or Carolnwosu@scyss.org

ACCION(R) Investments, a for-profit company providing equity for microfinance institutions, and ACCION International, a leading nonprofit microfinance organization, has announced that they will invest in, and provide technical assistance to, Tanzania's Akiba Commercial Bank. The move is designed to help Akiba expand its operations and financial services, particularly in microfinance. ACCION Investments will take a 20 percent share in the bank, investing up to $2.5 million as part of a new capitalization program. Existing shareholders, including international investors such as Incofin, FMO, Stichting Hivos-Triodos Fonds and Stichting Triodos-Doen, and Tanzanian investors such as InterConsult Ltd., Parastatal Pensions Fund and almost 70 private Tanzanian individuals, have invested a total of $2.7 million in the capitalization. At the same time, Akiba has contracted ACCION International to provide the bank with a senior management team, as well as short-term technical assistance in order to expand the bank's portfolio and outreach to thousands of Tanzanian micro entrepreneurs. Akiba Commercial Bank began operations in August 1997 as an initiative of over 300 Tanzanian entrepreneurs. The group’s vision and mission was to support the emergence of Tanzanian businesses through the provision of financial services at all levels, by a Tanzanian-owned commercial bank that understood Tanzanians and was committed to Tanzania. For more information, visit: www.acb-bank.com

Omotade “Tade” Akin Aina, a sociologist whose well-known work has highlighted the challenges in Africa of urban poverty, governance and development, will join Carnegie Corporation of New York as Program Director, Higher Education in Africa. Tade is an experienced foundation executive, whose decade-long tenure in the Ford Foundation’s Nairobi office, has been marked by innovation and visionary leadership. Aina, a Nigerian national, will refine and implement the Corporation’s strategy to accelerate economic and social development in Africa by strengthening teaching, research, scholarship and leadership. Working in South Africa, Tanzania, Uganda, Ghana and Nigeria, Carnegie Corporation is investing in initiatives including regional networks of scholars, to cultivate and harness individual skills in the sciences and humanities while building on its decade-long institutional support for universities and libraries. According to the Corporation, Aina was selected after an extensive international search for a leader who understands the imperative for human resource development on the continent, and champions the role of universities as providers of this essential good. He will join Carnegie Corporation in September.

The United Nations Development Programme (UNDP) and Japan has announced a new $92 million initiative to help Africa adapt to global warming. The programme was announced during the high-level Fourth Tokyo International Conference on African Development (TICAD) and will be launched in August. The UNDP/Japan initiative seeks to help governments revise their current anti-poverty strategies to come into line with climate change’s potential effects on development. As a result of climate change, many African countries will experience increased water scarcity and worsened health and food security, with global warming a threat to economic and social progress. Of the $92 million, $11 million will be allocated to projects in collaboration with the UN Children’s Fund (UNICEF), the UN World Food Programme (WFP) and the UN Industrial Development Organization (UNIDO). UNDP and Japan have joined forces in the past on successful projects, in countries such as Afghanistan and Sudan and in the areas affected by the Chernobyl nuclear disaster.

The African Union and Microsoft have signed a Memorandum of Understanding that seeks to catalyse the development of information and communication technologies (ICTs) in the region. The major components of the MoU include ICT capacity building and enhancing technology access — particularly among the young and rural populations. According to Microsoft, the overarching goal of the programme is to overcome some of the barriers to ICT access, such as living in remote areas, poverty or lack of computer skills. The AU–Microsoft partnership also aims to provide support for the New Partnership for Africa's Development (NEPAD) e-schools and e-parliament programmes. The e-schools programme aims to equip every school in Africa with computers and Internet access by 2013, and the e-parliaments project aims to enable parliamentarians to source and share information. NEPAD signed its own MoU with the Global Digital Solidarity Fund — an international foundation which funds ICT for development — in April to jointly fund the programmes. Since the e-schools initiative was launched in 2003, just eighty schools in fifteen countries have had computers and printers, local networks, audiovisual equipment and Internet connectivity installed.

A groundbreaking study by the Centre for Leadership and Public Values (CLPV) at the UCT Graduate School of Business (UCT GSB) has revealed that Small and Medium Enterprises are making an enormous contribution to social investment and poverty alleviation in South Africa. The research, which formed part of the Community Grant making and Social Investment (CGSI) programme at the Centre, is the first of its kind in South Africa and fills a knowledge gap in social investment – the social investment agenda has to date been dominated by issues around the role of large corporates. The quantitative study, conducted from 2006-2007, surveyed a total of 832 Small and Medium Enterprises (SMEs) from all nine provinces in three categories: very small, small and medium enterprises. The findings reveal that an overwhelming majority (80%) of SMEs do contribute their resources, including both money and time, to socio-economic development. The contributions made by SMEs, in cash and kind, are substantial and can be considered a significant contribution to South Africa’s social investment. The study aims to challenge the widespread assumption that SMEs do not give to their communities and indicates that the total for cash donations alone made by the Small and Medium Enterprises sector could be in excess of R436million per annum. The research is to be included in a chapter in the first comprehensive philanthropy report in Africa, entitled, ‘The State of Philanthropy in Africa’, to be released by Trust Africa – a Senegalese-based foundation – this year.

Africa is set to benefit from a comparative study on the BPO (business process outsourcing) industry. Research for the study, commissioned by the International Development Research Council (IDRC), will begin next month with the aim of bridging the gap of insufficient data and statistics on BPO in many African countries. The research will examine the BPO sector in developed and developing countries. The study is expected to provide empirical evidence and a deeper understanding of the success factors to better inform policy decisions and investment choices in the BPO industry. The study will engage BPO clients in the U.S. and U.K., African BPO pioneers such as Kenya and Ghana, emerging BPO service countries such as South Africa and Egypt and mature BPO services in India and Mauritius. The Regional Asian BPO Association will also be interviewed. The study will involve key stakeholders drawn from academia, industry and society. By conducting the research in pioneering, emerging and mature markets, the study will provide deeper understanding and inform Africa's policy decisions and investment choices. The study will identify the critical success factors in BPO industries in developing countries and policy and institutional environment, legal and regulatory considerations, incentives and infrastructure and bandwidth requirements will be examined. The findings will be published in a book called "The BPO Sector in Mature, Emerging and Pioneer Markets: Lessons and Opportunities for National Development."

The 2007-2008 issue of In Angola Magazine is now available in an electronic format. The magazine offers readers timely information about Angola’s targeted sectors and development zones, investment potential and growth, a simplified investment process, and more. To view your copy of In Angola Magazine, please visit the ANIP website at www.investinangola.com

Private investment in various sectors of the Angolan economy rose 45% last year, reaching US$ 2 billion. Macroeconomic stability remains the key draw for investors, who are now shifting their investments to rural Angola. In 2007, 77% of investments were concentrated in Luanda.

Jane’s Information Group, the prestigious defence industry analyst, has ranked South Africa alongside fast-growing economies. The report ranks South Africa at 115th, alongside strong economies such as the Ukraine and Vietnam. South Africa was rated the second most stable country in sub-Saharan Africa, behind Mauritius. According to Reuters, the report ranks the Vatican City as the most stable, followed by Sweden, Luxembourg and Monaco. Christian La Miere, managing editor of the report, told the newspaper that South Africa is in a band of moderate to relatively low-risk countries in terms of instability. Botswana, which typically tops the region for investor confidence, ranked 142nd, with Zambia 179th, Mozambique 190th and Zimbabwe tied with Chad and the Democratic Republic of Congo at 224.

South Africa is ranked as the 18th most attractive foreign direct investment destination worldwide in 2007 Foreign Direct Investment (FDI) Confidence Index by global management consulting firm AT Kearney. South Africa made its debut in the top 25. China and India keep their top spots at first and second position respectively, while 15 of the 25 most attractive FDI destinations are developing markets. Brazil, the United Arab Emirates and Russia all rank in the top 10. Corporate investors are optimistic about the prospects for developing nations and are increasingly targeting them for more corporate investment in the years ahead, said the company, and developing country investors are likely to be responsible for more than half of the investments greater than US$500-million over the next three years. The index, a regular survey of global executives, looks at the present and future prospects for international investment flows, with companies participating in the survey accounting for more than U$3.8-trillion in annual global revenue.

By the end of 2008, Angola’s Development Bank (BDA) plans to finance projects across the country totaling approximately USD 300 million. BDA’s goal for 2008 will tackle zones where banking and private sectors have difficulty investing in structured and standardized projects.

The Certified Contact Centre Professional skills training and job placement program is developed and presented, both off and online, by Netcampus. Netcampus, in partnership with Microsoft, has developed a welcome new job skills and job placement program in the rapidly growing Call Centre industry. This course has evolved out of the increasing need for proficient and adequately trained staff. South Africa's Call Centre industry is 2.5 times the size of the industry in Ireland, formerly thought of as the world's call centre leader - and rates more highly than another giant in this industry, India - for quality of service. Along with an annual growth rate of 54%, this is one of the fastest growing employment sectors in South Africa with estimated national employment figures currently exceed 200,000 operators and expected to grow by another 100,000 in 2009. This new Netcampus initiative is geared towards training competent contact centre professionals within South Africa to fill the many vacancies in this sector. Certification is a guarantee of the basic competencies which international Call Centre Consultants require. The cost of the course pitches it extremely accessibly to young people and school-leavers. This is made possible by the subsidisation of training costs by Netcampus and Microsoft.

After many years of presence in Western Africa through management training programs, BEM, who has positioned itself among the best European business schools, is to open a campus in Dakar, Senegal. BEM’s major responsibility is to teach a high quality business education, in order to provide the African economy and business community with the talents they need and will offer a complete range of management education programs. To gain practical experience in any field of international management, BEM DAKAR offers various exchange programs with its 69 prestigious university and business school partners worldwide.

The Angolan Government will invest over USD 400 million in the rehabilitation of multiple airports in the country through 2010. The project will include the rehabilitation of airports located in Huambo, Benguela, Cabinda, Lubango, Luena, Kuito, Saurimo and Dundo. The government will also invest in equipment to support air navigation to fully equip the airports with every technical, human and environmental technology for its integral operation.

Dubai-based Ruwaad Holdings is conducting a viability study into building an internationally branded entertainment theme park and residential complex in the Macambini area on the KwaZulu-Natal north coast, at a cost of US$2.5-billion (about R19.6-billion). A statement by the provincial government states that the group intends to develop an internationally branded entertainment theme park that will be complemented by numerous facilities focusing on residential, hospitality, leisure, medical, education, sport, health and retail. The investment, which had the full support of the provincial Cabinet, would see the development of 16,556 hectares of land to the north of the uThukela River, leading to the creation of 16,000 permanent jobs and a further 32,000 temporary jobs over the short-term. According to the company, the group's aim is to develop a uniquely African, world-class destination that has local, regional, national, continental and international appeal while improving infrastructure and services in the area, strengthening the local economy and stimulating increased investment across various industrial and commercial sectors. Ruwaad is a subsidiary of the listed Dubai 9 group, a real estate, hospitality, tourism investment and development company that focuses on creating world class destinations, initially in the Middle East, Australia, Africa and Asia with a strong emphasis on entertainment, hospitality, business and residential and leisure lifestyle.

Top female and male leaders from across the continent have launched an Africa Gender Parity Group at the World Economic Forum on Africa. The group of business, government, media, academic and civil society decision-makers is collaborating on ways for companies and countries to eradicate gender inequality and better engage women in the economy. Africa lags behind most parts of the world in closing its gender gap on education and health, but is well ahead of many emerging regions on closing the gap in political empowerment. South Africa, ranked 20, is a leader in the region, boosted by its scores on the political empowerment of women. However, the region also contains some of the lowest-ranking countries in the world, including Zimbabwe (88) and Nigeria (107), hampered by particularly poor performances in the areas of education and health. The Africa Gender Parity Group has called for greater government commitment and funding for primary, secondary and tertiary education, focusing in particular on increasing the retention rates for girls and better legislation to fight discrimination against women, including in the area of property rights, and effective implementation of this legislation.

THE weakening UK and South African property markets stand to offer relatively cheap opportunities for Investec Property Investments, which has large UK and South African property expansion plans. Investec Property Investments say the group is replicating its South African business offering in the UK to take advantage of falling prices there. The new UK business, called Investec Property Investments UK, will invest in both UK listed property funds or real estate investment trusts (Reits) and fixed property. They (UK Reits) are still trading at 4,4% current yields, which is too low given the relative risk associated with the UK commercial property market.

The NEPAD Kenya Secretariat has carried out an African Peer Review Mechanism rapid diagnostic assessment ahead of its 2nd annual country progress report. Breaking from the tradition of holding country-wide provincial forums, the Kenya Secretariat has used focus group discussions in various districts around the country. Forty participants were interviewed from each district with each group consisting of men and women of various age groups, including the elderly and young people to draw divergent views on a range of issues. The participants came from various interest groups in society -- faith-based organisations, local opinion leaders, provincial administration, private sector, youth and women's groups and civil society. Discussions have centred on critical issues identified in the country review report of May 2006 and which were seen as needing urgent attention by the Government. In the process of undertaking the APRM rapid diagnostic assessment in the districts, the main aim was to create an approach where the people recommended measures which the Government could employ as possible and realistic interventions on these issues.

Finibanco Angola, a Portuguese and Angolan bank, recently began activities in Angola with the opening of its headquarters in Luanda. The bank, which has capital of US$10 million, is 60-percent owned by Finibanco and 40 percent by individual local investors. As part of its policy to expand into Angola, the bank’s board of directors plans to open three branches by the end of the year, one in Cacuaco, one in Viana and one in Luanda. By 2011, the bank plans to have a network of 30 branches across the country.

The Africa Society of the National Summit on Africa and World Cocoa Foundation (WCF) have paid tribute to Akosua Frema Osei-Opare of Ghana and Amouan Acquah Assouan of Cote D'Ivoire, whose efforts on behalf of child labor have led to historic governmental and social change in their region. At an event held in Washington, D.C., Mrs. Frema and Madam Acquah were honored for having led their countries in the development of policy initiatives and timelines that would end the worst forms of child labor. The event was attended by leaders from the U.S. Department of State, U.S. Department of Labor, Congress, non-governmental organizations, WCF member companies, and other dignitaries. Currently, Mrs. Frema serves as the Deputy Minister of Manpower, Youth and Employment for the Republic of Ghana, Member of Parliament since 2005, and Director of the National Program for the Elimination of the World Forms of Child Labor in Cocoa. Madam Acquah is the Executive Secretary of the Child Labor Monitoring System Cocoa Certification and Special Advisor to the Prime Minister for the Republic of Cote D'Ivoire. The mission of The Africa Society is to be the premiere entity that engages and educates Americans about Africa and to create, through partnerships a better understanding of its peoples, diverse cultures, histories and economies.

South African state electricity utility Eskom will spend R800 million per year running its own tertiary institution to train its staff as a means of reducing its skills shortage. Lack of skills at the utility has been partly blamed for the country's electricity crisis. The Eskom Corporate University, as it is temporarily known, is an extension of the existing Eskom Learning Institution (ELI). The institution has been offering leadership development programs and technical skills training since the 1980's through various training centres around the country. The University, which will be headed by Eskom's Chief Learning Officer John Gosling, will coordinate and integrate the existing learning programme to better meet Eskom's skills needs. The University will also work with other state owned enterprises such as Denel and Transnet in addressing skills shortages from a national perspective.

Guaranty Trust Bank Plc, the mother company of GT Bank Gambia has announced its introduction of its International Money Transfer [GTMT]. The GMT which will initially start in the West Africa sub-region would enable customers as well as non-customers of the bank to receive and send money with ease and speed. The presence of the GT Bank in four countries in West Africa is supposed to provide the platform for the bank to solve the perennial problem associated with money transfer within the sub-region. In essence, this new product will enable customers of the bank in Nigeria, Gambia, Ghana and Sierra Leone to walk into any of the various branches in these countries to receive and send money. GT Bank Plc presently operates from 120 locations in Nigeria, 7 locations in The Gambia, 4 locations in Ghana and 4 locations in Sierra Leone.

In a landmark decision, the Pretoria High Court has ruled that South Africans of Chinese descent qualify for the full benefits of the country's employment equity and black economic empowerment (BEE) laws. The ruling comes after the Chinese Association of South Africa (Casa) took to the courts eight years ago to establish why Chinese South Africans, who were classified as "coloured" during the apartheid era, did not qualify under these laws. The ruling means that the Chinese community will be able to take advantage of black empowerment posts and business deals. Although the two Acts did not specifically exclude Chinese South Africans, the fact that they were not mentioned by name led to a lot of confusion in the marketplace.

The European Union has contributed around 7 million Euros to help improve the security of nuclear plants and radioactive materials in 35 developing countries, including 27 African states. The funds have been earmarked for upgrading physical protection of nuclear materials and facilities, securing vulnerable radioactive sources and fighting illicit trafficking in nuclear and radioactive materials. Countries receiving help include Ghana, South Africa, Morocco, Nigeria, Sudan, Tanzania and Uganda.

Gambia’s Central Bank has raised the minimum paid-up capital requirements for Micro-Finance Institutions and the Village Savings and Credit Schemes [VISACAs] from D0.5 million and D3 million respectively to D10 million. The Banking Regulator has stated that the increase is aimed at having a more competitive sector which is geared towards meeting the financial requirements of non-banking sector. The sector is required to maintain a capital adequacy ratio of 16% and a glaring ratio of 10:1. The Central Bank is also striving to formulate a government framework and a manual of guidelines and instructions for the operations of Micro-Finance Companies. The micro-finance industry in Gambia is mainly driven by the promotion and development of small scale enterprises as well as entrepreneurs in both the formal and the informal sectors. Statistics indicate that Non-Bank Financial Institutions [NBFIs], especially those with rural bases have an informal clientele base of more than 65% with room for rapid growth. Though the increase in the minimum capital requirement is almost certain to put a strain on some NBFI’s who might not be able to raise such amounts at the stipulated deadline, we are of the opinion that the policy will deepen competitiveness and open the industry for innovation and therefore a major stride in the right direction.

Ecobank Transnational Incorporated [ETI] has completed the acquisition of 75% shareholding in EABS Bank. The transaction leaves the Pandit family as the single largest shareholders of the bank with a 25% stake and two seats on the board of directors. The new outfit has been re-named Ecobank Kenya Limited with Mr. Peter Kanyago as the new chairman. The completion of the acquisition paves the way for the bank to launch its operations in the market and position itself in the region with Kenya as the hub of its operations. Ecobank said that it intends to launch a number of products including full-service wholesale, retail, investment and transaction banking services to all sectors of the economy. The bank also intends to enter into the home loans market by providing mortgage loans to potential home buyers.

Applications for volunteers for the 2009 Confederations Cup South Africa has opened, with 42 application centres set up across Johannesburg. More than 5,000 specialist and general volunteers will be recruited for the tournament, according to the city’s official website. Applications can be made online on the Confederations Cup website ( http://www.fifa.com/confederationscup/index.html) and centres have been set up for people who do not have access to the internet. Assistants are on hand at these centres to help applicants who are not computer literate. The application process closes on 31 August. Thereafter, successful applicants will go through a vigorous screening, interview and training process. Applicants should be South African citizens and should be 18 years or older by 1 March 2009. Applications are open to professionals, students, unemployed young people and retired people. Volunteers will be recruited to help in operational areas such as accreditation, administration, information technology, language support, logistics, transport, information services, media and marketing. The 2009 Confederations Cup, popularly known as the Festival of Champions, takes place in June 2009 in Johannesburg, Tshwane, Rustenburg, Mangaung and Port Elizabeth. It will be contested by eight countries - South Africa, Italy, United States, Brazil, Egypt, Iraq, UEFA 2008 champions Spain, and the champions of Oceania. Recruiting Confederations Cup volunteers is the first step towards recruiting about 15 000 volunteers for the 2010 FIFA World Cup.

A Women in Science competition is now being held to identify and recognise women scientists in sub-Saharan Africa who are engaged in innovative and pioneering research and communicating the outputs—knowledge, technologies, approaches—for enhancing agricultural performance in sub-Saharan Africa. It also targets women who are repackaging and communicating existing knowledge to improve agricultural productivity and livelihoods of rural communities. Women scientists who are advocating for policy change to optimise the benefits of scientific and technological developments are also targeted. Women scientists, researchers, educators, extension workers, agro-entrepreneurs and farmers are encouraged to participate. Individual and group entries will be accepted. Entries should demonstrate the pursuit, documentation and dissemination of scientific and technical knowledge including technologies and approaches and effective partnerships with peers and/or rural communities, policymakers, farmers and agro-entrepreneurs. Entries can include existing or ongoing research work and projects or programmes undertaken within the last five years that show measurable impact (potential or demonstrated) on agricultural development and/or rural livelihoods of African communities, especially women farmers. Entries should include gender responsive strategies that incorporate a strong element of communication and outreach. Abstracts should be emailed to info@atpsnet.org and copied toladuke@atpsnet.org The deadline is 15 August 2008. Women scientists whose full papers are received by 30 September 2008 and approved by the panel will be supported to attend the Ministerial Meeting on Higher Education, which will be held in Lusaka, Zambia from 22-31 October 2008. www.wigsat.org

Submissions are welcome for the Global Development Network’s annual competition for the Most Innovative Development Project, which carries prizes in cash and travel. The finalists will present their proposals at GDN’s Annual Global Development Conference in Kuwait City, Kuwait in January 2009. Submissions are accepted for an ongoing development project implemented in a developing or transition country. Criteria include the degree of innovation and the potential for broad application of the project in other countries. The deadline for submissions is August 20, 2008 for the development project and September 5, for research proposals/papers. The competition is open to researchers from developing and transition countries.   http://www.gdnet.org