Trade Africa

2012-01-07T12:29:00.000Z

1 Zambia’s copper output to hit 1.6m tonnes by 2016 2 Why Africa must take advantage of Europe’s debt crisis 3 Unlimited opportunity for China-Africa cooperation 4 West African skies beckon more carriers 5 Sub-Saharan Africa set for 2012 boom 6 Exporters lose out as Mombasa port congestion intensifies 7 Nigeria, Global Biofuels sign 414 billion-Naira accord 8 Africa trade shields South

Zambia’s copper output to hit 1.6m tonnes by 2016

2012-01-07T11:30:00.003Z

The Chamber of Mines of Zambia (CMZ) has said the current environment coupled with increased investments will push Zambia’s copper production capacity to 1.6 million tonnes per annum by 2016. CMZ general manager Fred Bantubonse said while that target could be realised, there was need to maintain the current investment climate to attract more investors to the sector. The target would depend

Why Africa must take advantage of Europe’s debt crisis

2012-01-07T11:19:00.004Z

by Craig Falck The global economic slowdown has wreaked havoc on a number of economies, sending numerous once-powerful nations to their graves. Europe has been badly affected, even more so because of the countries’ debts within the Eurozone and their inabilities pay their multi-billion dollar debts, such as Greece. Italy and Spain are also in trouble, and it’s a problem that isn’t going to go

Unlimited opportunity for China-Africa cooperation

2012-01-07T08:52:00.002Z

by Yu Shengnan, Guo Qian China-Africa new strategic partnership continues to develop rapidly in the second decade of the new century with frequent high-level visits and successful expansion of political, economic, and cultural cooperation. The cooperation has effectively promoted the economic and social development in the African countries and China, improving people’s living standard, and

West African skies beckon more carriers

2012-01-06T23:16:00.002Z

by Drew Hinshaw From Senegal to Sierra Leone, start-ups, decrepit local carriers and even international airlines are out to prove that jet travel can extend beyond deep-pocketed passengers to West Africa's flourishing middle-class and business travelers. In the past year, Ethiopian Airlines, Kenya Airways Ltd. and even American R&B singer Akon have invested in new local carriers. Air

Sub-Saharan Africa set for 2012 boom

2012-01-06T23:13:00.001Z

If you want to hear some sunny economic forecasts for 2012, it’s best not to go looking in the United States – where GDP will grow by a lackluster 2 percent – or the eurozone, where the economy will actually get smaller this year. No, if you’re looking for good news you’d be better off turning to the world’s poorest region, sub-Saharan Africa, where the economy is set to grow by nearly 6

Exporters lose out as Mombasa port congestion intensifies

2012-01-06T23:12:00.000Z

by George Omondi A fresh pile-up of cargo at the port of Mombasa is causing anxiety among exporters as delays in clearance put orders worth billions of shillings at stake. Traders said a flood of uncollected containers has jammed the facility, with slow clearance by Kenya Revenue Authority (KRA) and Kenya Ports Authority (KPA) adding to their losses. “The port is overwhelmed by imports. Some

Nigeria, Global Biofuels sign 414 billion-Naira accord

2012-01-06T23:07:00.003Z

by Elisha Bala-Gbogbo Nigeria, Africa’s top oil producer, signed a memorandum of understanding with Global Biofuels Ltd. to build 15 integrated biofuel plants for about 414 billion naira ($2.55 billion), the Trade and Investment Ministry said. Global Biofuels will start “the implementation of an agro- based industrial activity for the production of ethanol, biomass electric power and food, all

Africa trade shields South Africa from euro slowdown

2012-01-06T23:06:00.002Z

Trade with Africa should help to cushion SA in the face of a global slowdown, according to figures from the South African Revenue Service (SARS). SA’s growing exports to Africa this year may help the economy to stave off the alarming prospect of a recession in Europe, its main trading partner. Asia’s rapidly expanding economies will still, without doubt, provide the most important source of

Public fury as fuel prices double after Nigerian subsidy ends

2012-01-06T23:04:00.002Z

Ordinary Nigerians and trade unionists have condemned the government for withdrawing a fuel price subsidy which has led petrol prices to more than double in many areas. Many Nigerians are angry at the announcement, fearing the price of many other goods will also rise. There have been small protests and the trade unions have called for a strike. Nigeria is Africa's biggest oil producer, but

Rising Asia, Africa trade may spell good tidings for shipping sector

2012-01-06T23:03:00.000Z

by Manu Balachandran Indian shipping companies, reeling under low freight rates and high fuel prices, are bracing up for a better year ahead as rising trade from Asia and Africa may provide a shot in the arm. The Baltic Dry Index, which measures the cost of transporting raw materials by sea and is the benchmark index for sea-borne trade, is likely to rise 20-25% in 2012 from its average of

Africa Must liberalize internally

2012-01-06T23:02:00.000Z

Trade matters, and fair trade matters in particular. The British economist Paul Collier took time to talk with Alexandra Schade and Michael Kröber about trade liberalization and the merits of economic sanctions. The European: How fair is fair trade? Collier: First of all, it is very sensible for anybody concerned with development to be concerned about trade. Trade really is more important

Tunisia exports up 7.3% in 2011 over 2010

2011-12-09T17:30:00.001Z

Tunisian exports, valued at 22,767.8 (MTD) in the first 11 months of 2011, increased by 7.3% at current prices, compared to 2010, despite the challenging economic environment. They resulted from exports of agricultural and food products (39.8%), electrical industries (22.9%) and more modestly textile, garment and Leather (+6.4%). The area of phosphates and derivatives, at the heart of social

Africa to be the only region air traffic is growing strongly

2011-12-09T17:25:00.001Z

The latest International Air Transport Association’s assessment of premium and economy travel, prepared by IATA’s Economics unit and based on September data, shows Africa to be the only region where air traffic is growing strongly. The report warns of declining business confidence and stagnant economic conditions, except for Africa. IATA says its Air Traffic Assessment is a reliable leading

China's heavy investment could hurt Africa in face of slowdown

2011-12-07T23:11:00.001Z

by Jennifer Booton Sub-Saharan Africa is at far greater risk to a slowdown in China than in the eurozone, Fitch says, meaning the region is likely isolated enough to weather Europe’s tumultuous debt storms. That’s because China plays a critical role is the region’s trading activities, now making up 17% of its total exports and 14% of its imports, a part of the country’s quest for cheap raw

Scramble for 'dot africa' internet domain name

2011-12-07T20:43:00.001Z

by Tim Hume A proposed new ".africa" internet domain name will provide a stronger brand identity than current little known country domains, while preventing registration revenues flowing abroad, say backers. DotConnectAfrica, a non-profit organization registered in Mauritius, is one of the groups vying to establish and operate the dot africa name space for businesses and individuals across the

Free trade area talks point to new African era

2011-12-07T16:37:00.001Z

An important process that started three years ago began to mo ve in early December as the first round of negotiations to establish a free trade area covering 27 countries in east and southern Africa kicked off in Nairobi, Kenya. It is envisaged that negotiations for the proposed free trade area (FTA), which promises to be an important instrument for the future of trade and industrialisation in

Structure of China trade ties with Africa must be changed

2011-12-07T03:33:00.001Z

by Li Jiabao China needs to expand its trading volume with Africa and balance its structure, according to experts. "At present, the trading volume with Africa is quite small and the structure is not balanced. In the near future, China needs to develop new trading opportunities and expand imports from Africa, while promoting investment in Africa by Chinese businesses," said Cheng Zhigang,

Malawi, Zimbabwe to simplify trade rules

2011-12-06T22:06:00.001Z

Trade between Zimbabwe and Malawi is expected to increase following the implementation of the Common Market for Eastern and Southern Africa Simplified Trade Regime by the two countries. The initiative aimed at formalising and facilitating informal cross-border trade is effective from December 1, 2011. In a joint statement, the Government of Zimbabwe and Comesa said the programme enables traders

New cargo route boosts Cyprus to Africa trade links

2011-12-06T15:59:00.001Z

Emirates freight division, Skycargo, has launched a new service on the UAE-Africa trade route, opening up new opportunities for Cypriot firms to trade with Ghana. Skycargo's 117 tonne capacity Boeing 747 will operate every Friday between Dubai and Ghana, in support of the thriving import and export industry generated by one of the world’s fastest growing economies. “Ghana is booming at the

DP World opens port operations in West Africa

2011-12-06T15:06:00.001Z

by Jon Cuthbert Senegal and west Africa’s largest container terminal, developed and operated by global marine terminal operator DP World, has been officially opened. Expanded and upgraded by DP World Dakar following a concession agreement signed in 2007, the terminal’s capacity is more than doubling its capacity from less than 300,000 TEU (twenty-foot equivalent container units) to more than

Tanzania slaps 25 per cent tariff on Ugandan goods

2011-12-06T14:35:00.001Z

Several Ugandan companies involved in manufacturing and exports of finished products are crying foul after Tanzania recently imposed a 25 per cent tariff on manufactured goods entering its borders.The new measures that were announced in early December 2011 have forced Ugandan manufacturers exporting into Tanzania to pay a 25 per cent Common External Tariff (CET). Uganda won concessions from her

Africa’s hopeful economies

2011-12-06T14:13:00.003Z

HER $3 billion fortune makes Oprah Winfrey the wealthiest black person in America, a position she has held for years. But she is no longer the richest black person in the world. That honour now goes to Aliko Dangote, the Nigerian cement king. Critics grumble that he is too close to the country’s soiled political class. Nonetheless his $10 billion fortune is money

European economic slowdown a problem for Africa-WTO

2011-12-06T14:13:00.001Z

by Clair MacDougall The euro zone crisis will continue to hamper African countries' trade and economic growth because of the continent's dependence on exporting to European markets, the World Trade Organization chief said in early December 2011. WTO Director-General Pascal Lamy said there could be a significant decline in the growth of African economies if the euro zone crisis continued to

Euro Zone debt crisis may threaten African economy

2011-12-06T14:12:00.001Z

by Palash R. Ghosh The Euro zone debt crisis not only threatens the economic well-being of European countries, but may also spill over to the rest of the globe, including Africa. Speaking to BBC, the finance ministers of two of Africa’s premier economies, South Africa and Nigeria, worry that the failure by the European Union to contain the crisis will have grave consequences for their countries