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Eye On COMESA Newsletter - October 2009


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COMESA Regional Investment Agency
Investments news within the Comesa Region
October 2009

Published in: News & Politics, Business, Travel
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Eye On COMESA Newsletter - October 2009

  1. 1. EYE ON COMESA ISSUE 18 2009 OCTOBER COMESA REGIONAL INVESTMENT AGENCY CONTENTS Rwanda leads the world in Doing Business reforms Page 2 Doing Business Report Latest Headlines This year reformers were particularly active in Eastern Europe and Central Asia and the Middle Page 3 East and North Africa. In Doing Business 2010, there were four new reformers among the top 10: Article of the Month Liberia, the United Arab Emirates, Tajikistan and Moldova. Others include Colombia, Egypt, Belarus, the Former Yugoslav Republic of Macedonia, and the Kyrgyz Republic. Colombia and Page 4-7 Egypt have been top global reformers in four of the past seven years. latest Headlines For the first time since Doing Business started tracking reforms, a Sub-Saharan African economy, Page 8 Rwanda, led the world in reforms. Rwanda has steadily reformed its commercial laws and Events, About RIA, Quote of the day. institutions since 2001. In the past year it introduced a new company law that simplified business start-up and strengthened minority shareholder protections. Entrepreneurs can now start a Bilateral Agreements business in two procedures and three days. Rwanda has also enacted new laws in order to improve regulations to ease access to credit. Other reforms removed bottlenecks at the property Egypt, Rwanda Sign Cooperation registry and the revenue authority, reducing the time required to register property by 255 days. Pacts. Overall, Rwanda introduced reforms in 7 out of the 10 categories, rising from 143rd to 67th place The New Times Kigali on the ease of doing business rankings. COMESA RIA NEWS Rwanda and Egypt strengthened Every one of the top ten reformers introduced measures to improve the ease of starting a bilateral relations by signing 10 areas business, and 8 out of the 10 made it easier to deal with construction permits. In Macedonia of cooperation. starting a business now takes four days, because the central registry forwards relevant company information to other institutions. Several documents no longer have to be notarized. Moldova According to a communiqué from the offers an expedited, 24-hour company registration service for an additional fee. Egypt and the United Arab Emirates have eliminated minimum capital requirements. Ministry of Foreign Affairs (Minaffet, the signing took place at the end of the REGIONAL second session of the two countries' African Countries of the Future 2009/10 Joint Commission meeting held in the FDI Magazine Egyptian capital, Cairo. South Africa has been crowned the top African Country of the Future in fDi Magazine's 2009/10 Top on the list is a Memorandum of competition for the third time, with Egypt and Morocco ranking second and third, respectively. Understanding (MoU) on technolo- gical and industrial development, as South Africa has once again beaten its neighbouring countries to assume the position of the top well as an agreement of technical and African Country of the Future 2009/10. Ranking top in the categories of economic potential, infrastructure and business friendliness has helped South Africa to maintain the leading position economic cooperation. overall. Two other Protocols of Cooperation Egypt closely followed South Africa, ranking highly in various categories, including the top were signed in the fields of science and position in human resources. In the competition, the judges were impressed with both Mauritius technology, and health. and Rwanda's responses and as a result the countries were ranked first and second, respectively. Egypt's foreign ministry expressed Rwanda, Ghana and Malawi came out as the top destination countries for foreign investors in readiness to support Minaffet, Africa in terms of cost effectiveness. These top three countries had cost advantages with regard particularly in training and to consider to registering a property, office and industrial costs, as well as having low minimum wages. helping the initiative by establishing an The Seychelles climbed one position to rank top in the category of quality of life. Compared with institute for diplomatic studies in other African regions, the Seychelles had the largest number of tourists to the area, attracting Kigali. 1.85 foreign visitors per capita. COMESA REGIONAL INVESTMENT AGENCY
  2. 2. PAGE 2 October 2009 Economy: have shown interest in venturing into seismic survey and to drill an mining as well as assisting in the exploration well in the Ogaden basin. Zambia: Copper production set to mechanization of small to medium scale The exploration well is 3000 meters increase miners. deep. Sam Banda Junior AfricaNews reporter in Blantyre, Malawi “One of the companies, Trapeace pledged to venture into coal mining and OiLibya to fuel blending business in Zambia's copper production is expected we are seriously considering their Ethiopia to increase this year. Copper production proposal as they have also seemed quite Andualem Sisay, AfricaNews reporter output is expected to rise from the serious in mechanizing small scale in Addia Ababa, Ethiopia previous estimation of 600,000 to miners with requisite equipment,” he 664,000 this year. said. The new entrant to Ethiopian oil distribution business, OiLibya, which A Reuters report quoted Zambia's Mining was Zimbabwe's leading belongs to Libyan government, is to Treasury saying that output from the industry in 2002, contributing 27 become the second provider of ethanol copper mines would rise by further 5 percent of export trade. The chief blended fuel in Ethiopia. The company percent in 2010. minerals were coal, gold, copper, nickel, agreed with Ministry of Mines and tin, and clay, and Zimbabwe was a world Energy (MoME) on such a move. The report further said that copper leader in the production of lithium output will increase to 750,000 tonnes minerals, chrysotile asbestos, and Ethiopia started blending benzene with per year by 2012. Zambia is the largest ferrochromium, with more than half of five percent ethanol at the beginning of copper producer in Africa. the world's known chromium reserves. last summer. The Sudanese biggest oil company Nile Petroleum Plc, was Zambia: Inflation Drops by more than The country was self-sufficient in most previously the only company authorized 1% minerals, producing 35 commodities by the government to blend fuels, Zambia Development Agency from 1,000 mines, mostly small, and selling this on to other retailers. exporting 90 percent of its mineral The annual inflation rate for the month output. The total value of mineral Ethanol can be blended with gasoline in of September has registered a production exceeded USD 500 million varying quantities up to pure ethanol significant decline to 13 per cent by 1.3 per year, and the mining sector (E100), and most spark-ignited gasoline percentage points against the August employed 60 000 people in formal style engines will operate well with 2009 figure of 14.3 per cent. According operations. mixtures of 10% ethanol (E10). But, in to a Central Statistical Office release, the case of Ethiopia, it is 5% ethanol that the reduction in the inflation rate was Petronas continues oil search in will be mixed with 95% benzine. mainly due to the decrease in some Ethiopia food prices, new motor vehicle prices Andualem Sisay, AfricaNews reporter Uganda: Sixth Telecom Lands in and air fares. in Addia Ababa, Ethiopia Country East African Business Week (Kampala) The cost of vehicles and air fares Petronas, the Malaysian government- declined as a result of the appreciation owned oil and gas exploring company, I-telecom launched its services in of the kwacha against the US dollar which has been hunting for oil in Uganda on the 076 code at a colourful between August and September 2009. Ethiopia for several years, now moves its ceremony in Kampala bringing to six the The annual food inflation rate was search from west to the eastern part of number of operational telecom recorded at 13.9 per cent this month, a the country. companies in the country. decline from 14.6 per cent last month. Two weeks ago the company started The launch coincided with the African Investment: drilling the first wildcat well in the in Telecom Union Day meeting in Kampala Genale block of the Ogaden basin, which was sponsored by I-telecom and South Korea keen to invest in which is known as one of the promising MTN. Zimbabwe areas for oil discoveries in the country. Ronny Zikhali, AfricaNews reporter in According to Mr. Mulenga Augustine Bulawayo, Zimbabwe Previously, Petronas had an exclusive 2 Caesar, the CEO of the company, I- year study right agreement with the telecom has so far put up infrastructure South Korea has committed itself in Ethiopian Ministry of Mines and Energy worth USD 30 million and in the next investing in Zimbabwe's mining sector, (MME) in the Ogaden basin. three years the investment portifolio a cabinet official said. Zimbabwe's will rise to more than USD 100 million. Minister of Mines and Mining Develop- Petronas has hired a British oil ment, Obert Mpofu said the South exploration company, Weather Ford, So far, the company has created 30 Korean ambassador hinted that a based in Dubai. Weather Ford is direct jobs to Ugandans and a host of number of that country's companies contracted by Petronas to conduct other existential jobs to franchise COMESA REGIONAL INVESTMENT AGENCY
  3. 3. PAGE 3 October 2009 operators, service providers and this effect, it has opened its doors to Mr Abey said the project is unique installation engineers in the country. foreign investments, particularly to those because it will see the birth of a trade investors who may be interested in centre which will bring together all African On competition, Mulenga said there establishing partnership with Zambians countries and provide an opportunity for was still room for business. "See Uganda citizens. them to sell their products particularly has a population of more than exports to the rest of the continent. 30million. And about 55% of this "We, therefore, wish to invite Saudi population is actively working but the Arabian business people to invest in Construction of the trade centre which telecom industry is just jostling for 8- Zambia in areas such as tourism and will start soon is expected to be 10million people. It means that we have manufacturing, among others. Given the accomplished in three distinct phases and an opportunity to command and bring Kingdom's vast experience in oil estimated to take three years to complete. on board customers which other production, Saudi investors could operators have not been able to consider partnering with others to invest Apart from providing a forum for trade, attract," Mulenga said. in oil exploration and production in the centre will also have a training, Zambia," Mr Banda said. research and information department Other telecom companies are Zain, which will provide African business MTN, Warid, UTL and Orange. Ethiopia to Build Africa International people with information on business and Trade Centre investment opportunities on the cont- The traditional landline government The Times of Zambia (Ndola) inent. provider also molted into Mango and has molted into Uganda Telecom Ltd Construction of a modern multi-million The trade centre will be constructed by (UTL). In November 2006, Warid made Africa International Trade Centre is under renowned architectural and engineering inroads into the market and claimed a way in Ethiopia's capital, Addis Ababa. talents on an area more than 110,000 big segment of subscribers due to cross- square metres in front of Addis Ababa's overs from Zain, MTN and UTL. In March The trade centre to be called Addis Africa CMC Diplomatic Village. 2009, Orange on buying Hits telecom, International Trade Centre will be the first launched its services in the country of its kind in Africa and will among other AACCSA president Eyessus Zafa said that becoming the fifth operator in the land things enhance business and economic apart from bringing together African and . But it is Zain which revolutionised interaction among Africans. investors, the centre will also play a key the industry when it became the first role in the creation of the African telecom, at least in Africa to connect Trade centre project manager Ayalew Economic Community ( AEC) under the several countries on a single code. Abey disclosed in Addis Ababa that the auspices of the African Union. project which is owned by the Addis Zambia: President Banda Invites Saudi Ababa Chamber of Commerce and The AEC is one of the long term objectives Investors Sectoral Associations (AACCSA) will cost of the AU aimed at boosting economic The Times of Zambia (Ndola) about USD 23 million. development on the continent. President Rupiah Banda has called on Saudi Arabian investors to come to Zambia and invest in the exploration ARTICLE OF THE MONTH and production of oil to enhance bilateral relations between the two Moving beyond cash in Africa countries. By Wendy Atkins, Mr Banda said given the Kingdom's vast Even though the majority of sub-Saharan countries are cash-driven, a string of initiatives experience in oil production, Saudi are being rolled out across the region to take bank notes out of transactions where investors should partner with Zambians possible. Telcos, financial companies and reforms by the central banks are leading the way to invest in the petroleum industry and in Kenya, Ghana and Nigeria. enhance cooperation between the two peoples. Mention the methods of payments used in sub-Saharan Africa and for many people it will probably conjure up images of wads of cash changing hands in street markets. But The president said this when he although the majority of sub-Saharan African countries are still cash-driven, significant received letters of credence from Saudi advances are being made thanks to innovations on the ground by telcos, microfinance Arabian Ambassador to Zambia Hassan companies and banks, as well as reforms led by central banks across the continent. Attar at State House. The Article presents three success stories for Kenya, Ghana and Nigeria, where the three "With respect to the bilateral relations countries have introduced innovative initiatives to take bank notes out of transactions. existing between Zambia and Saudi Arabia, my Government has laid For the Full story please visit: emphasis on the economic relations. To “ rica.html?current_page=NO_PAGE COMESA REGIONAL INVESTMENT AGENCY
  4. 4. PAGE 4 October 2009 Kenya: Goverment to Spend Sh735 which will grow to at least 120 people in increased by 27 per cent while those Million On Setting Up Industrial three years time. from Tanzania to Kenya registered a 17 Centres per cent growth. The Nation (Nairobi) The Manager told The Daily Monitor that his company is also making He encouraged Tanzanian investors and The government has set aside Sh735 preparations to build additional Hotel businesspeople to explore the Kenyan million for the construction of industrial with a six storey building Around Bole market as a way of closing the trade development centres in ever y Area near Dembel City Center. It has imbalance which is in favour of Kenya. constituency during the current already secured the plot from Addis financial year. Ababa City Administration. Mr Pinda said Tanzania encouraged the development of regional economic Industrialisation ministry PS John KCB Bank to Open Seven Branches in blocs, notably the East African Lonyang'apuo said each of the 210 Rwanda Community, because it placed the constituencies would receive Sh3.5 The Nation (Nairobi) region in a better position in global million for the projects aimed at economic affairs. creating jobs for the youth and fighting KCB Rwanda aims to open a total of poverty in rural and urban areas. seven branches in the country before Zimbabwe: SA Firm Eyes Mining the end of the year, the managing Investments He said tenders for construction of the director said. Of these, said Mr Maurice The Herald (Harare) sheds have already been advertised and Toroitich, three are already in operation. work is expected to begin from next He said they now have outlets in Huye, Diversified South African miner African month and be completed by December. Rubavu and Rusizi. Rainbow Minerals plans to invest in coal and platinum group metal projects in Mr Lonyang'apuo said the government "We expect to open a total of seven Zimbabwe. will equip the centres with modern branches in this market before the end tools and equipment to enable of this year in order to reach out to a Chief executive Mr Dan Simelane told entrepreneurs make high quality larger cross-section of the target the media the investment climate in the products for local and export market. population with a commensurate country has improved since the number of ATMs," said Mr Toroitich. formation of the inclusive Government Access credit in February this year. He said KCB's entry into the market late The PS said the government will last year had been received well and "We are looking for PGMs and we are support youths and small scale business needed to grow its presence to meet looking for coal. We are in discussions people to access credit in micro-finance market expectations. with a number of people in Zimbabwe to institutions and from commercial banks see whether there is something we can to start viable income generating "In line with our regional growth and get on in terms of exploration," said Mr projects. expansion strategy, we are spreading Simelane. our network across the width and Ethiopia: Four Star-Hotels Joins the breadth of this country in order to take Zimbabwe has the second largest Catering Industry our products and services closer to the known platinum reserves in the world The Daily Monitor (Addis Ababa) marketplace," said Mr Toroitich. after SA. It has also vast coal deposits in the western parts of the country. A new Four-Star Hotel was inaugurated Kenyans’ Investment in Tanzania Now Government is keen to attract foreign officially and began operation at a at Sh160 Billion mining companies to invest into a sector ceremony held September 2009. The Nation (Nairobi) shunned due to fears that businesses could be expropriated. The new Hotel, called Wasamar Hotel, is Kenyans' investments in Tanzania have said to be furnished with state-of-the- hit the Sh160.7 billion mark. A meeting Prime Minister Morgan Tsvangirai said art facilities that meet international between Prime Minister Raila Odinga Zimbabwe would seek a competitive tax standard. The Hotel is located near Bole and his Tanzanian counterpart Mizengo regime for investors, a rational royalty International Airport. Peter Pinda told that the investments by schedule, deregulate the marketing of Kenyans had helped to create jobs in the minerals and by year-end conclude the The construction of the Hotel took neighbouring country. And to streng- implementation and policing of its three years on an area of land covering then the economic ties, the two leaders Mines and Minerals Act. 1,109 Square meters and absorbed encouraged citizens from both 49,000 million birr. countries to increase trade and He said Zimbabwe's minerals sector investment opportunities. could attract investments of up to USD According to Fantu Woldeyesus, 16 billion once a more conducive Manager and owner of the Hotel, it has Mr Odinga said exports from Kenya to business environment is in place. That created job opportunities for 80 people, Tanzania between 2007 and 2008 could help boost gross domestic product COMESA REGIONAL INVESTMENT AGENCY
  5. 5. PAGE 5 October 2009 by USD 3 billion per year. transaction with Trade Kings. composure in the market. ARM is SA's second-biggest black- A recent survey conducted by ZCC Yin said that eight dual SIM card models owned mining group. It also earmarking revealed that Trade Kings controlled have been assembled with the cheapest USD 250 million to develop the Konkola about 98 percent of the Maheu market going for Rwf19,900. North copper project in Zambia. in the country while National Breweries enjoyed 2 percent of the same market A-Link Technologies started its Central African Gold also announced prior to the acquisition of the of Maheu operation last year with an initial that they would soon outline a products by SABMiller Africa investment of USD 0.5 million (Rwf285 financing plan for the company that will million). allow it to restart gold mining in Rwanda: Country Starts Assembling Zimbabwe. LCD Television Sets A-Link was behind the development of The New Times (Kigali) the mobile phone programmed in Zimbabwe has become an optional Kinyarwanda branded 'Alira'. The brand destination for mining investors after Rwanda's vision of becoming a regional name was earlier this year changed to South Africa experienced a deterior- ICT hub has been boosted by a 'A-Link'. ating environment. revelation that a local company, A-Link Technologies, has started assembling Zambia is selling Zamtel Considerably, over the past year, South Liquid Crystal Display (LCD) television Zambia Development Agency Africa suffered because of a dramatic sets. increase in overall operating costs, in Zambia is inviting prospective bidders to particularly labour, consumables and A-Link a Chinese owned firm said submit applications for pre-qualification power. recently that it would be diversifying its to participate in the proposed partial product line to include television privatisation of Zambia Telecomm- Zambia: SABMiller Africa Acquires assembling in order to redeem its unication Company Limited (Zamtel). Maheu Business for USD19.5M declining mobile phone sales. Zambia Development Agency The proposed terms of the transaction The company management said that the are that the Zambian government will SABMiller Africa has entered into an mobile phone market has greatly sell up to a maximum of 75 percent agreement with Trade Kings Limited to declined owing to the availability of equity interest and retain a minimum of purchase its Maheu business for a total cheap and promotional handsets 25 percent of that equity interest. cash payment of about USD19.25 offered by telecom companies. However, government reserves the right million after the Zambia Competition to sell part or all of that remaining equity Commission (ZCC) approved the The company's Chief Executive Office, interest in the company through an transaction. Edward Yin said that the market status initial public offering on the Lusaka and government's slashing of duties on Stock Exchange. According to a news release on the ZCC handsets has forced output to drop by website, the transaction includes the 50 percent. Prospective bidders must have a purchase of the Maheu brand – Super minimum of five years of licenced Maheu No.1 – which is a non-alcoholic "We have now decided to venture into operation in the telecommunications maize drink available in a variety of assembling flat screens along mobile industry; have more than three million flavours. SABMiller Africa owns phones in order to keep in business," he active subscribers on fixed, mobile and/ Zambian Breweries Plc (a subsidiary of said. or fixedwireless networks; and a Heinrich's Syndicate Limited), which is minimum of USD 250 million share- the largest clear beer and soft drinks The company affiliated to China Link, holders' equity for private entities or; a business in the Zambia. About 70 Digital and Technology Company minimum market capitalisation of USD percent of National Breweries Plc is Limited has assembled four TV sets 500 million for public listed entities. listed on the Lusaka Stock Exchange awaiting more orders to rollout massive (LuSE) and the firm commands a output. Mauritius Beats SA to Answer the Call substantial amount of the opaque beer Centre Ned market. The TV's size ranges between 22 to 42 Business Day (Johannesburg) SABMiller Africa intends to grow the inches and branded 'A-Link'. Mauritius is hosting numerous foreign Maheu business throughout Zambia companies at a conference this week to and across a variety of African markets, "We are targeting electronic dealers for try to win deals and investments that which will result in both increased sales massive supplies. The market will also may otherwise head to SA. volumes and further employment determine the price," he revealed. opportunities. SABMiller Africa will The Data Centre Strategies conference is continue to employ the existing Trade Meanwhile, A-Link Technologies has being staged by the Board of Investment Kings staff engaged in the production of also started assembling dual SIM card of Mauritius, with delegates coming Maheu following the completion of the phones in order to maintain its from Africa, France, India and the UK. COMESA REGIONAL INVESTMENT AGENCY
  6. 6. PAGE 6 October 2009 Mauritius aims to establish itself as an Andrew Daudi, Principal Secretary for international centre for data back-up, The report cited a speech by Japheth Agriculture and Food Security, said disaster recovery and business Katto, the Chief Executive Officer of the government has increased research continuity services for large companies Ugandan Capital Markets Authority, interventions by improving working anywhere in the world. saying that eventually investors will be re l at i o n s h i ps w i t h t h e wo r l d ' s able to buy shares in any listed company renowned research institutions, notably Mauritius had adopted bold reforms to of the Member States. from Australia. significantly improve its business climate, Information and Commun- "Electronic trading on Ugandan's stock “Part of the reason we have succeeded ication Technology Minister Asraf Dulull market will be good for regional with our input subsidy programme is the told Business Day. integration because it will be possible to use of improved varieties of maize seed have one East African stock market," and other crops. We want to continue Mauritius could compete against SA as Katto is reported to have said. injecting more resources into research,” it was known for its ability to said Daudi. successfully compete, adapt, evolve Kenya embarks on electricity project and innovate, he said. "There are no Andualem Sisay, AfricaNews reporter Malawi has, once again, managed to threats to our chances of winning in Addia Ababa, Ethiopia register a grain surplus of over 2 million international contracts. Mauritius is metric tonnes, raising the hopes even recognised as a vibrant, robust and KenGen, Kenya's major power producer higher that Malawi could again export politically stable economy, welcoming announced that it plans to add 500 maize and help bail some of its investors, self-employed entrepreneurs megawatts of electricity to the national neighbours out. and professionals with talents and skills grid. to do business in all economic sectors. Eritrea: Newly Constructed Micro- For implementing the project, the Dams Gash-Barka Region Playing Major Its low-cost base meant multinationals company has now launched on the sale Role in Easing Potable Water Supply were increasingly using Mauritius for of a Sh15 billion infrastructure bond. Problem their offsite data centres and disaster (Asmara) recovery services, and more South Eddy Njoroge, managing director of the African companies were also looking at company said the Kipevu III thermal The new micro-dams constructed in relocating those activities to Mauritius, power plant, with a capacity to generate various sub-zones of Gash-Barka region Dulull said. 120MW of power, will be a major are playing major role in easing potable beneficiary. water supply problem, besides The island has been honing its improving their standard of living. infrastructure for years and was the first According to Njoroge, who made the African country to launch a third- remark during the launch of the offer The local inhabitants stated that generation cellular network to carry this week, the plan is part of KenGen's traveling long distance to fetch water high-speed data. short term strategy to stabilize the that was not up to standard is now no power situation in the country by more thanks to the newly constructed It also has undersea telecoms cables commissioning 500MW from fast- micro-dams which have already providing direct connectivity to the rest tracked projects by 2012. accumulated enough amount of water. of the world. In this connection, they commended the Kenya will require USD 4.5 billion (Sh400 Government's endeavors towards Other incentives are tax rates of 15%, billion) over the next 10 years improving the people's standard of no exchange controls and the free translating to Sh40 billion every year for living. repatriation of profits. power production to meet rising demand, the director said. Mr. Misgina Gilai, expert in rangeland Development development and animal feed in the Malawi:Gov't to improve research on Agriculture Ministry's branch in the Uganda goes electronic trading crops region, indicated that a total of 17 new Tom Minney, AfricaNews reporter in Richard Chirombo, AfricaNews water reservoirs have been constructed Addis Ababa, Ethiopia reporter in Blantyre, Malawi in 5 sub-zones of the region by the end of 2008 to last June which are already The Uganda Securities Exchange is set Malawi has managed to produce food providing reliable potable water supply to introduce electronic trading before surpluses for three consecutive years to the inhabitants. Accordingly, micro- the end of 2009 and an East African because of improved crop varieties; a dams have been constructed in the sub- common stock market to be launched in feat government said is poised to zones of Barentu, Laelai-Gash, Golij, January 2010, said a report in East maintain following increased efforts in Shambuko and Mulki, he added African Business Week newspaper, improved seed variety research c i te d o n af r i ca n ca p i ta l m a r ket - initiatives. Ethiopia: Govt Embarks On Power COMESA REGIONAL INVESTMENT AGENCY
  7. 7. PAGE 7 October 2009 Generation Projects Burundi and Rwanda has received Euro of petroleum and natural gas products. TradeInvest Africa (Cape Town) 4.4 million and Euro 10.3 grant from the Common Market for Eastern and The business delegation will also The Ethiopian government has signed Southern Africa (COMESA) under the explore possible areas of cooperation in c o n t ra c t s w i t h t h r e e C h i n e s e adjustment facility. the energy sector. companies for the development of hydro-electric and wind power According to COMESA, the euro 4.4 Zimbabwe and Algeria's bilateral projects, reports million was a grant to Burundi meant to relations continue to grow from assist the country integrate into strength to strength and the two sides The USD 12 billion, 25 year plan will CO M ESA a n d t h e Ea st A f r i ca n further agreed to continue their involve the construction of six new Community (EAC). negotiations concerning other draft dams, with the first phase expected to agreements, particularly in the areas of be ready in four years time. A 110 metre Rwanda has received Euros10.3m (Rwf trade, small and medium enterprises, high dam is planned for the Genale 8.8billion) to counterbalance projected and mutual protection of investments. River, while wind power projects will be revenue losses incurred after the built in the Adama and Mesobo Harena country joined the Common Market for Politics areas. Eastern and Southern Africa (COMESA) and the East African Community (EAC) Malawi president for AU chairmanship These projects are intended to help Customs Union. Richard Chirombo, AfricaNews Ethiopia meet its rising power needs reporter in Blantyre, Malawi stemming from the expansion of According to COMESA, the euro 4.4 Ethiopian industry. million was only 65 per cent of the funds President Bingu wa Mutharika of that Burundi expects to get and that Malawi could become the next African Eritrea: Newly Built School in Mend- data required collection with the view to Union Chairman in 2010, following a efera Sub-Zone Inaugurated get the remaining 35 per cent is on an decision by Southern African Develop- (Asmara) advanced stage. ment Community leaders to proffer him up for the position. A SADC meeting held A new junior school that was while the adoption of the Common in September 2009 proposed President constructed at a cost of over 10 million External Tariff (CET) was the condition Mutharika and the president of Lesotho Nakfa in Adi-Harre administrative area, required for Rwanda to qualify for the for the position which falls vacant 2010. Mendefera sub-zone, through the first installment of the compensation The AU's current chair is President assistance of the Chinese government that is financially supported by the Muammar Gadaffi of Libya. was inaugurated on September 15. European Union (EU) through COMESA. The next AU chairmanship, which opera- The Minister of Education, Mr. Semere Zimbabwe, Algeria sign co-operation tes on rotational basis, will go to SADC Russom, inaugurated the school which deal next year. SADC leaders then earmarked is equipped with 8 classrooms, offices, President Mutharika for the position, electric and potable water supply but the final decision will be arrived at services, football and basketball fields, The third Algeria-Zimbabwe Joint after another contest between as well as other facilities. The Minister Commission of Cooperation wrapped President Mutharika and other leaders pointed out that the construction of the up in Harare, Zimbabwe, with the to be held in January next year- though school attests to the existing friendly finalization of several cooperation President Mutharika is well-placed and relations between Eritrea and China agreements in various fields, which favoured to become the next chair. which continues to gain momentum. He covered areas such as energy, science further expressed conviction that the and technology. Malawi's Foreign Affairs Minister, Prof. newly constructed school would play Ettah Banda, has confirmed the significant role in expanding educat- In the field of Energy and Mines, the two development. “SADC leaders settled for ional opportunities. countries had discussions with a view to Mutharika. The final event to come up promoting cooperation in production of with the final name will be held in The newly built school is expected to electricity and the supply of oil and January. President Mutharika's chances provide educational opportunities to petroleum products. are very high, looking at his political and about 750 students, according to economic performance,” said Banda. reports. Under the agreement, the two c o u n t r i e s p r i va t e s e c t o rs w i l l Bilateral and Regional Cooperation collaborate through the chambers of commerce. Meanwhile under the COMESA Bloc Grants Euro 4.4 Million energy Memorandum of Underst- to Burundi and Euro 10.3 to Rwanda anding, National Oil Company of The New Times (Kigali) Zimbabwe, officials will soon visit Algeria to conclude a deal for the supply COMESA REGIONAL INVESTMENT AGENCY
  8. 8. PAGE 8 October 2009 QUOTES QUOTES ABOUT US “Don’t limit yourself. Many people limit themselves to what they think they can do. You can go as The COMESA regional investment far as your mind lets you. What you believe, remember, you can achieve.” agency is a co-ordinator between Mary Kay Ash the 19 Comesa African country NIPAs. It aims to bring forth all the “ The three great essentials to achieve anything worth while are, first, hard work; second, stick-to- investment information and itiveness; third, common sense.” opportunities for worldwide Thomas Edison investors interested in the African region. EVENTS RIA team WAIPA Annual Conference Johannesburg 12-14 October 2009 Heba Salama Milan, Italy Manager First African Remittance Conference 23 - 25 November 2009 Mohamed Aref 2nd Annual North Africa Trade & Yaound - Cameroon Research Analyst Investment Conference 21 October 2009 Mohsen El Tonsy Cairo, Egypt Marketing Officer ferences/2nd-Annual-North-Africa-Trade- Maged El Kamhawy &-Investment-Conference_196/ Accountant European Development Days Subscription 22-24 October Stockholm Sweden request subscription through: Private Equity World Africa 2009 26-29 October 2009 Sandton Convention Centre - Johannesburg, South Africa Water Investment World Africa 2009, Sandton 2-6 November 2009 Sandton Convention Centre - Numbers 6 USD 19.5 75 6th Telecom lands in Uganda 75% of ZAMTEL to be privatized 500 23 500 megawatts of electricity to be added to Kenya national grid USD 23 cost of the International Trade Centre in Addis Ababa, Ethiopia 25 19.5 USD 25 billion, cost of the construction of six new dams in Ethiopia SAB Miller purchaed Maheu business for While every effort is made to provide accurate information, no responsibility is taken for inaccuracies and omissions contained herein. 3, Salah Salem Road, Nasr City, Cairo, Egypt Tel: (+ 202) 240 55 428 General Authority For Investment BLDG Fax: (+202) 240 55 421 COMESA REGIONAL INVESTMENT AGENCY