African Economic Conference 2013: "Regional integration in Africa”
18 June 2013, 12:00 pm
Call for papers: Regional integration has been the goal of African countries at least since the attainment of independence more than 50 years ago. Many arguments for speeding up the integration process have been advanced from many quarters since then - political leaders, economists in government and the private sector, and researchers in universities and thinktanks. It is generally agreed that integration would be politically and economically beneficial for Africa in the global economy.
Budget must benefit ordinary people, says Bunge committee
18 June 2013, 12:00 pm
Dodoma: The Budget Committee yesterday punched holes in the government’s 2013/14 Budget, criticising a number of tax and policy measures the government plans to implement in the next financial year. Reading the views yesterday, the chairman of the committee, Mr Andrew Chenge (Bariadi West–CCM) urged the government to change its mindset on revenue collection, expenditure and inculcate the culture of financial discipline among its workers if it wants the budget to work for ordinary people.
Communiqué: SADC Maputo meeting on DRC, Zimbabwe, Madagascar
18 June 2013, 12:00 pm
Maputo: The Extraordinary Summit of the Heads of State and Government of the Southern African Development Community (Sadc) was held in Maputo, Republic of Mozambique on June 15, 2013.
First shipment of liquid natural gas from Angola sent to Brazil
18 June 2013, 12:00 pm
Luanda: Brazil was the destination of the first ever shipment of liquid natural gas from Angola, produced by Angola LNG at its processing unit in Soyo, Cabinda province, which plans to have Asian countries amongst its main customers. Following years of preparation, including a delay of at least 18 months and an investment of US$10 billion, Artur Pereira, president of Angola LNG Marketing, announced the sale of the first shipment to state company Sociedade Nacional de CombustĂveis de Angola (Sonangol), for export to Brazil on the Sonangol Sambizanga ship.
Freeing trade between South Africa and Nigeria
18 June 2013, 12:00 pm
Johannesburg: If a Free Trade Area were to be negotiated between Africa’s two largest economies, South Africa and Nigeria, it would have a powerful effect on trade across the sub-continent and would challenge other countries to respond. “In my view it would bring substantial economic benefits to both sides in terms of exports, investment, competition enhancement and, ultimately, productivity,” Peter Draper, a senior research fellow at the South African Institute of International Affairs, told IPS.
Kenya Economic Update
18 June 2013, 12:00 pm
Nairobi: Lower interest rates and higher investment will support Kenya’s economic growth in the next two years, the World Bank projects in its latest economic analysis on Kenya. The latest Kenya Economic Update forecasts a growth rate of 5.7 percent in 2013, which is remarkably higher than the growth rate of 4.7 percent recorded in 2012. This is attributed to a stable macroeconomic environment, the peaceful elections in March 2013, and smooth transition of political power. The Gross Domestic Product (GDP) is expected to improve further to 6.0 percent in 2014.
Mortality in Africa: the share of road traffic fatalities
18 June 2013, 12:00 pm
Tunis: The focus of this brief is on the population aged 15 years and over, as this comprises the major victims of road traffic accidents. In 2008, nearly 7 million deaths due to any cause were recorded in Africa among population aged 15 and above. This is equivalent to approximately 1,151 deaths per 100,000 population (see Annex II, Table 1).
Regional integration: a test of political will
18 June 2013, 12:00 pm
Lusaka: Africa still lacks infrastructure to accelerate regional integration from Cape to Cairo despite numerous investments poured into the continent’s 54-member states. China has pledged to invest more than US$10 billion in the next few years through access to natural and mineral resources. And the African Development Bank, among other co-operating partners, has joined the race to make Africa attractive for much-needed direct foreign investment to develop the continent. However, Zambia believes all African countries need to step up efforts in rebuilding rundown infrastructure ‑ which continues to stifle the continent’s development, as well as increase the Gross Domestic Product and reduce grinding poverty among the citizenry.
Strengthening linkages between domestic and foreign direct investment in Africa
18 June 2013, 12:00 pm
Geneva: Domestic investment is both a driver and an engine of growth in developed and developing countries. It is necessary to sustain growth, create employment and lay the foundation for poverty reduction. Over the past decade there has been a rapid increase in Africa’s needs for resources to finance the development of infrastructure and productive capacity, but domestic investment has not grown fast enough to match these needs. As a result, there is a wide and growing gap between Africa’s investment requirements and domestic resource availability. The decision made by African leaders, during the Summit of the African Union in January 2012, to fast-track the establishment of a continental free trade area with a view to boosting intra-African trade has also made the need for more domestic investment not only urgent but imperative.
TBS blocks "doubtful" imports worth billions
18 June 2013, 12:00 pm
Dar es Salam: Over 400 consignments of imports worth billions of shillings were denied entry into the country for, among other reasons, lack of quality consumption parameters to fit them into the local market. The Tanzania Bureau of Standards (TBS) Director of Quality Management, Eng. Tumaini Mtitu, told the 'Daily News' that the consignments were tested by the partners implementing the Pre-shipment Verification of Conformity to Standards (PVoC) in various countries abroad. Thorough testing of the products in the countries of origin through the PVoC system was introduced and studied for the last four years and implemented since January, last year.