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Mon,11Dec2017

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Africa's pharmaceutical futures

Roman Vondrous/AP/SIPA

A new initiative could streamline regulation of drugs across the continent, but policymakers have a long way to go to make the African Medicines Agency a reality.

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Oil & Gas: Uganda gives Tullow Oil, Total production licences

Photo©Stephen Hird/ReutersUganda granted on Tuesday five production licences to UK-listed explorer Tullow Oil and three to France's Total, clearing a major hurdle as the east African country aims to move more quickly towards crude production.

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Africa after the real Brexit

Photo©Svancara Petr/AP/SIPAAs Britain chose to leave the European Union, sending shock waves through the global markets, experts remain uncertain on how this would impact African economies. Trade and investment would certainly be affected as most of the trade arrangements the UK has with African countries were negotiated through the EU.

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South Sudan seeking $1.9 bn loan from China

Photo©AP/SIPASouth Sudan plans to ask China for a $1.9 billion loan - a sum equal to more than a fifth of its national output - to be used for infrastructure projects such as roads and bridges, its foreign affairs minister said on Tuesday.

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Ethiopia: The end, the means

The Huajian shoe factory in Dukem: the government sees manufacturing as the future. Photo©Petterik Wiggers/PANOS-REAThe state-driven economic model leaves no room for dissenting voices as Ethiopia sticks to its 11.2% growth target, with manufacturing leading the way.

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Zimbabwe: Decline in diamond production as tobacco earnings drop

More than half of Zimbabwe's tobacco crop is exported to China every year. Photo©Tsvangirayi Mukwazhi/AP/SIPAZimbabwe will fail to reach its targeted diamond output for 2016 of 6 million carats, with the government saying this is due to the disruptions that characterised the consolidation of mining operations at the vast diamond fields in the eastern part of the country early this year.

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Health: Mosquito factory in China targets Zika, Malaria

A researcher releases male mosquitos on Shazai Island which has a field studio of Sun Yat-Sen University-Michigan State University Joint Center of Vector Control for Tropical Disease, the world's largest Mosquito-borne diseases are responsible for more than one million deaths worldwide every year and Zika has become a concern for athletes at this year's Olympic Games.

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China, Africa ink $17 bln preliminary cooperation pacts

China's President Xi Jinping speaks during a Forum on China-Africa Cooperation in Sandton, Johannesburg, December 4, 2015. REUTERS/Siphiwe SibekoChinese companies and banks agreed preliminary deals with African counterparts on $17 billion worth of cooperation in sectors including infrastructure, energy, pharmaceuticals and information technology, the official Xinhua News Agency reported on Thursday.

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Industrial rescue plan for Zimbabwe

The United Nations Industrial Development Organisation (UNIDO) has unveiled a $22.6 million rescue package for Zimbabwe to resuscitate the collapsed pharmaceutical and manufacturing sectors.

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Sub-Saharan credit growth rates halve in two years

Photo©ReutersPrivate credit growth across sub-Saharan Africa has more than halved over the past two years and ground to a halt in oil exporting countries following low oil prices and the economic slowdown in China, weighing heavily on regional growth prospects, a report said on Friday.

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Chinese consortium to invest $2.8 billion in South Africa industrial zone

Photo©ReutersA group of Chinese investors will pump more than 40 billion rand ($2.81 billion) into the South African economy to build an industrial park, government said on Thursday.

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Angola halves growth forecast, cuts spending as oil price bites

Angola's capital, Luanda. File Photo©REUTERS/Mike Hutchings/FilesAngola has halved its 2016 economic growth forecast and slashed government spending as lower oil prices hammer state revenues in Africa's largest crude exporter, the finance ministry said on Monday.

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Nigeria signs $80 bn of oil, gas infrastructure deals with China

Oil minister Emmanuel Ibe Kachikwu, also head Nigerian National Petroleum Corporation (NNPC). Photo©Ronald Zak/AP/SIPANigeria has signed oil and gas infrastructure agreements worth $80 billion with Chinese companies, the West African country's state oil company said on Thursday.

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Standard gauge is not magic - Karim Sadek

Karim Sadek - Managing director for transportation and logistics, Qalaa Holdings. Photo©All Rights ReservedManaging director for transportation and logistics, Qalaa Holdings -- Kenya's Rift Valley Railways is rehabilitating the narrow gauge line from Mombasa to Kampala but is facing headwinds as African policy-makers focus on new projects and an insistence on standard gauge lines.

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Mugabe deputy sucked into $350 million graft storm

Photo©Victor R. Caivano AP/SIPAOne of Zimbabwe President Robert Mugabe's deputies has been accused of trying to influence the country's power utility to get an expensive $350 million loan from a Botswana-based finance company without following proper procedures.

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China firms to fund Congo hydro power plant to lift mining output

ReutersChina's Sinohydro and China Railway Group will finance a $660 million hydroelectric plant in southeastern Democratic Republic of Congo which is being built to reduce the copper-mining region's power deficit.

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200 Zimbabwean women on death row in China

At least 200 Zimbabwean women are on death row in China after they were caught trying to smuggle dangerous drugs, it has emerged.

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Algeria orders $40 mn LPG vessel from China

LNG Storage. File photo©ReutersA subsidiary of Algerian state energy company Sonatrach has awarded two Chinese firms a $40 million deal to deliver a liquefied petroleum gas (LPG) carrier and an option to provide a second vessel.

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Nigeria still in talks for foreign loans to fund deficit

Nigeria's Budget Minister Udoma Udo Udoma. Photo©ScreenShotNigeria is still in talks to obtain foreign loans to help fund a record $31 billion budget for this year, aimed at helping Africa's biggest economy cope with a slump in oil prices, its budget minister said on Thursday.

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Air Zimbabwe splashes $20m on grounded planes

Financially struggling Zimbabwean national carrier, Air Zimbabwe has been shelling out $400 000 monthly for the past four years on two airbus aircrafts under a murky lease arrangement.

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