Stanbic bank taxas de forex do gana

Gestão.

Dr. John Kofi Mensah.

Diretor Geral.

O Dr. John Kofi Mensah foi nomeado Diretor Administrativo do Banco de Desenvolvimento Agrícola (ADB) Limited em 1 de agosto de 2017. O Dr. Mensah é um renomado economista e banqueiro com 25 anos de experiência em diferentes setores de bancos, desde start-ups e delinqüentes. operações bancárias, crédito e gestão externa / tesouraria de Bancos Universais. Ele começou sua carreira no antigo Bank for Housing and Construction, em 1989, como Diretor de Economia e Pesquisa e, mais tarde, Diretor de Tesouraria, até 1995, quando ingressou na Securities Discount Company (SDC) como um Representante Chefe do Mercado Monetário. Em 1996, ingressou no International Commercial Bank (agora FBN Bank) como pioneiro e gerente de tesouraria / operações estrangeiras e foi elevado ao cargo de gerente geral / CEO adjunto do banco em 2007. Em novembro de 2007, mudou-se para o UniBank como Gerente Geral de Serviços ao Cliente e mais tarde foi promovido a Diretor Administrativo Adjunto, até sua partida para se juntar à First Capital Plus Savings & amp; Empréstimos (FCPSL) em abril de 2011, para forçar a jovem instituição a alcançar o status de Banco Universal. Em julho de 2012, o Dr. Mensah ajudou com sucesso o Conselho do FCPSL (Agora Capital Bank) a obter uma Licença Universal Bancária provisória e subsequentemente um Universal Bank Status em agosto de 2013. Ele era o Diretor Executivo (COO / CEO) da FCPSL em abril. De 2011 até julho de 2015.

O Dr. Mensah é membro do Conselho de Administração do Banco Rural Enyan Denkyira. Ele era o presidente da diretoria da Family Fountain Assets & amp; Securities Limited e atuou como Diretor Não-Executivo Independente na Cocoa Processing Company (CPC.)

Ele possui doutorado em Administração de Empresas (Finanças) pela SMC University of Zurich, Suíça. Ele possui um Mestrado (Banca e Finanças), Cum Laude da Finafrica em Milão, Itália e um BA (Economia e Estatística) da Universidade de Gana-Legon. Ele fez seu Certificado de Nível Avançado na Escola Secundária St. Peters e seu Certificado de Nível Ordinário na Escola Secundária Breman Asikuma.

Alhassan Yakubu-Tali.

Diretor da Gestão de Deputados.

Alhassan Yakubu-Tali foi nomeado diretor administrativo adjunto do Banco de Desenvolvimento Agrícola (ADB) Limited em 15 de agosto de 2017.

Ele é um experiente banqueiro de investimento com 15 anos de experiência internacional em muitos bancos multinacionais, incluindo HSBC, Lehman Brothers Investment Bank, Bank of Tokyo e Fimat International Bank.

Possui MBA (Marketing) pela City University, Bellevue, EUA (Campus de Frankfurt); B. S. (Administração de Empresas), também da City University, Bellevue, EUA (Campus de Frankfurt); Diploma 2 (Administração de Empresas) do West London College, Londres e Diploma 1 (Administração de Empresas) do West London College, Londres.

Um homem casado, Alhassan é poliglota e é fluente em alemão, inglês, hausa e dagbani.

Edward Ian Armah-Mensah.

Chefe de Grupo, Corporate Banking.

Edward possui um Mestrado Executivo em Administração de Empresas (Opção Financeira) e um Bacharel em Administração de Empresas. Ele tem uma vasta experiência em finanças corporativas, com especialização em originação de negócios, reestruturação de dívidas, sindicalização comercial, gerenciamento de caixa e financiamento de ativos. Ele tem experiência transversal na indústria com o Stanbic Bank (Gana) Limited, o Barclays Bank (Gana) Limited, o NDK Financial Services e o Agricultural Development Bank (ADB) Limited.

Edward ingressou na ADB como Executive Head, Corporate Banking em 2010. Ele também atuou como Diretor Comercial do Banco e atualmente é o Head do Grupo, Corporate Banking. Ele tem 17 anos & rsquo; experiência e criou com sucesso estruturas de Corporate Banking e não bancárias de greenfields.

Eva Richter-Addo.

Chefe de Grupo, Serviços Corporativos.

Ela tem um LLB. (Hons) da Universidade de Gana e um EMBA (opção de RH) da University of Ghana Business School. Ela é um membro afiliado do Chartered Institute of Personnel Development & ndash; (CIPD & ndash; UK) e um membro do Instituto de Praticantes de Gestão de Recursos Humanos, Gana.

Eva tem a seu crédito uma rica experiência que abrange mais de 20 (vinte) anos em Gestão de Recursos Humanos & amp; Desenvolvimento tendo passado dez (10) anos como Chefe de Unidade de Negócios (RH) em uma das Quatro Grandes Empresas & ndash; KPMG Gana com um histórico comprovado em planejamento estratégico de recursos humanos & amp; gestão com uma sólida consciência do dinamismo da equipe e tomada de decisões estratégicas. Ela se juntou ao ADB em junho de 2016 do Zenith Bank como Chefe de Serviços Corporativos, onde ela é responsável pela supervisão de Recursos Humanos, E-Business & amp; Serviços de Cartão, Qualidade de Serviço e Comunicação Corporativa.

James K. Agbedor.

Secretário do Conselho.

Ele é bacharel em Direito pela Universidade de Gana e possui um Certificado de Direito Profissional pela Faculdade de Direito de Gana. Ele ingressou no Banco em 1985 como Diretor Jurídico e foi o Diretor Jurídico do Banco. Foi nomeado secretário do Conselho em 2006. Ele também atuou como diretor administrativo entre janeiro e março de 2016.

Bernard Appiah Gyebi.

Chief Risk and Compliance Officer.

Bernard tem mais de 12 anos de experiência em gestão executiva no setor bancário. Ele ingressou no ADB em 2010, do Stanbic Bank Ghana Limited, onde era o Head of Credit. Sua carreira bancária começou em 1999, quando ingressou no Barclays Bank por meio do Business Leadership Program do banco, um prestigiado programa de treinamento de gestores, projetado para formar figuradores identificados em funções especializadas. Enquanto esteve no Barclays, atuou em várias funções como Gerente de Crédito Corporativo, Diretor de Compliance / Assistente Executivo do Diretor Administrativo e Diretor de Crédito Corporativo. A sua carreira bancária abrangeu todas as áreas principais da banca, nomeadamente operações, gestão de relações, tesouraria, risco de crédito, risco operacional e conformidade, com restrições na África do Sul, Suazilândia e Reino Unido. Ele já ocupou vários cargos na Segurança Social & amp; National Insurance Trust e Harley Reed Consultancy, uma empresa de planejamento e consultoria de desenvolvimento baseada em Accra.

Ele possui um MBA do Imperial College, Londres, um pós-graduação da Universidade Paris Pantheon Sorbonne e um diploma de bacharel em Planejamento pela University of Science & amp; Tecnologia, Kumasi, Gana.

Joseph Nii Adjei.

Diretor financeiro.

Nii Adjei iniciou sua carreira na PwC em 2002 como um Associado de Auditoria chegando a um Associado Sênior em 2004. Ele se juntou ao Zenith Bank em setembro de 2005 e devido ao trabalho duro e comprometimento aumentou em um tempo relativamente curto para o cargo de Diretor Financeiro. . Este é um papel que ele lidou de forma excelente até junho de 2016, quando ingressou na família ADB como CFO. Ele é bacharel em Ciência da Computação pela KNUST, MBA pela Edinburgh Business School. Ele é um revisor oficial de contas (ACCA).

Sra. Sylvia Nyanteh.

Chefe de Grupo, Financiamento Agrícola.

A Sra. Sylvia Nyante é Bacharel em Ciências Econômicas Agrícolas e Mestra Executiva em Administração de Empresas pela Universidade de Gana. Ela é um associado do Instituto de Banqueiros Chartered com mais de 20 anos & rsquo; experiência em banca. Ela se juntou ao Banco de Desenvolvimento Agrícola em 1993 como analista de crédito e subiu na hierarquia para se tornar a Diretora Executiva do Departamento de Financiamento Agrícola em 2012. Ela é atualmente a Diretora do Grupo, Financiamento Agrícola.

Maxwell AMOAKOHENE

Conselho Geral.

Ele é bacharel em Direito pela Universidade de Gana e possui um Certificado de Direito Profissional pela Faculdade de Direito de Gana. Ele também possui um Mestrado em Administração de Empresas da mesma Universidade com viés para gestão de recursos humanos. Ele ingressou no banco em 1994 como Diretor Jurídico e subiu na hierarquia para se tornar Conselheiro Principal do banco em 2010. Ele foi nomeado Diretor Jurídico em janeiro de 2015.

Ruby Botchway.

Chefe de Grupo, Business Banking.

Ruby possui Mestrado Executivo em Administração de Empresas pelo Instituto Gana de Administração e Administração Pública (GIMPA) e bacharel em Artes (Ciências Sociais, Geografia e Economia) pela Universidade Kwame Nkrumah de Ciência e Tecnologia (KNUST). Ela também é membro associado do Chartered Institute of Bankers. Ela também possui um Diploma em Customer Relationship Management pelo Institute of Financial Services, Reino Unido.

Ruby se juntou ao Banco de Desenvolvimento Agrícola (ADB) Limited em 2012 com a responsabilidade de reestruturar a Unidade de Apoio ao Negócio para alinhá-lo com as melhores práticas do setor e foi nomeado chefe de negócios bancários em 2015.

Antes de ingressar na ADB, Ruby teve uma carreira distinta no Barclays Bank (Gana) Limited, durante 20 anos, tendo atuado como Head of Business Support e também ocupado funções de Credit and Corporate Relationship Management. Ela também assumiu tarefas no Barclays Kenya e Barclays South Africa, onde trabalhou em estreita colaboração com os gerentes do Barclays Africa e ajudou a formular e direcionar estratégias para lidar com casos complexos e legados.

Christian Owusu Noye.

Chefe de grupo, Parastatals.

Chris tem mais de 15 anos de experiência corporativa no Reino Unido e em Gana. Trabalhou no Zenith Bank Ghana como Gerente de Relacionamento para o Departamento Regional de Bancos Corporativos e subiu na hierarquia atuando em várias funções. Antes de ingressar no ADB em junho de 2016, ele era o chefe do setor público e paraestatais. Ele possui mestrado em Gestão de Marketing Internacional pela Universidade de East London, Reino Unido e bacharelado em Economia e Direito pela Universidade Kwame Nkrumah de Ciência e Tecnologia (KNUST). Ele é um membro associado do Chartered Institute of Marketing UK.

Bridget Kaminta Lekanong Nuotuo.

Bridget possui um Mestrado Executivo em Administração de Empresas (EMBA & ndash; Finance Option) pela Universidade de Gana Business School e bacharel em Comércio pela Universidade de Cape Coast. Bridget ingressou na ADB como Gerente de Vendas de Tesouraria em 2011 e atua como Tesoureira do Banco desde março de 2016. Ela se tornou a Tesoureira substantiva em dezembro de 2016. Com mais de 15 anos de experiência. experiência bancária 13 anos de experiência em gestão de tesouraria, ela também é uma Chartered Banker e membro dos Mercados Financeiros Internacionais (com certificação ACI).

Bridget começou sua carreira bancária no Barclays Bank (Gana) Limited, onde foi uma vendedora sênior encarregada do varejo e também ocupou vários cargos em banco de varejo.

Samuel Dako.

Chefe Executivo de Auditoria.

Samuel Dako é o diretor executivo de auditoria. Ele tem mais de vinte e dois anos de experiência gerencial no setor bancário. Ele ingressou no Banco como Diretor de Finanças e atuou em várias funções, incluindo Controlador Financeiro, Chefe de Relatórios e Estratégia Financeira, Gerente de Pesquisa e Planejamento Corporativo. Ele também possui experiência gerencial relevante em Banca de Filial, Gestão de Risco e Auditoria & amp; Garantia.

Ele é um revisor oficial de contas e membro do Institute of Chartered Accountants do Gana, Merit Award, MBA Finance da University of Leicester UK, LLB da GIMPA, BL (Cand) e Post Graduate Diploma em Management Information Systems, GIMPA.

TheInvestmentMan.

Investimento inteligente para fazer.

Postado em Banco Africano de Desenvolvimento.

Gana Obtém $ 9.7m Para Preservação Florestal.

Reflex Eco Group & # 8211; Notícias de Gana.

por Cephas Larbi (Jornalista Local)

O Gana garantiu US $ 9,75 milhões do Programa de Investimento Florestal (FIP) do Fundo de Investimento para o Clima (CIF) para realizar um projeto de preservação florestal.

Os fundos seriam usados ​​para iniciar o projeto Engaging Local Communities no projeto REDD + / Enhancement of Carbon Stocks (ELCIR +).

O projeto ELCIR + ajudará a reduzir o desmatamento e a degradação florestal, aumentar os estoques de carbono e reduzir a pobreza, envolvendo as comunidades em abordagens de gestão de terras que geram benefícios financeiros e ambientais para elas.

O projeto irá testar uma abordagem jurisdicional de REDD + no nível regional, com foco nas regiões Oeste e Brong Ahafo.

Doze mil pessoas, metade delas do sexo feminino, receberão apoio de capacitação, sementes e equipamentos, além de incentivos financeiros por meio de acordos de repartição de benefícios para o desenvolvimento de atividades florestais, agroflorestais e meios de subsistência alternativos.

Mais 175.000 pessoas serão indiretamente beneficiadas.

O Gana garantiu os fundos com o apoio do Banco Africano de Desenvolvimento (BAD).

Albert Mwangi, Gestor de Tarefas do BAD para o projecto, disse em comunicado que, com a aprovação do projecto, o Gana pode aumentar exponencialmente a sustentabilidade do seu sector florestal e garantir que as comunidades relacionadas com a floresta sejam simultaneamente receptoras e criadoras de economias económicas eficazes e respeitadoras do clima. soluções.

“O projeto baseia-se na história de apoio do BAD em Gana para o manejo florestal sustentável para gerar resultados ambientais e socioeconômicos positivos.

"Estamos ansiosos para as lições que surgem da implementação do projeto", disse ele.

O projeto tem quatro componentes, que são o apoio à restauração comunitária de florestas fora da reserva degradadas e da paisagem agrícola; promover sistemas de cacau e agro-florestais respeitadores do clima e ambientalmente responsáveis; apoio à comunidade meios de subsistência alternativos e capacitação para o governo e comunidades locais e apoio para gerenciamento de projetos e monitoramento & amp; Avaliação.

O desenho do projeto foi desenvolvido de acordo com a exigência do FIP, através de um processo intensivo de consulta às partes interessadas que incluiu o setor privado, como a indústria madeireira, associações de marceneiros, desenvolvedores de plantações, produtores de cacau e aqueles envolvidos na produção de carvão vegetal.

Outros incluem agricultura e finanças, sociedade civil e organizações comunitárias, como comunidades marginais de florestas, ONGs especializadas em meio ambiente, mudanças climáticas, gestão de recursos naturais e desenvolvimento comunitário.

Artigos relacionados.

Gana recebe US $ 9,7 milhões em fundos de investimento climático para expansão florestal (ghanabusinessnews) Gana promete aumentar o engajamento da comunidade para transformar seu setor florestal com projeto de quase US $ 10 milhões para aumentar o engajamento da comunidade para transformar seu setor florestal com projeto de quase US $ 10 milhões (appablog. wordpress) Gana se prepara para aumentar o engajamento da comunidade para transformar seu setor florestal com projeto de quase US $ 10 milhões (newstimeafrica) Rn clima2050 florestas (slideshare) Pesquisadores ganenses desenvolvem estratégias para conservar recursos florestais (modernghana) Trabalhando com cacaueiros em Gana ( thefrogblog. uk) Gana perdendo enormes receitas para extração ilegal de madeira & # 8211; ONG (ghanabusinessnews) A Indonésia deve melhorar seu índice de governança florestal: PNUD (eco-business) Novo mundo para os silvicultores de Montana: Fale chinês, confunda com celebridades, ouça com atenção (missoulian)

Notícias Focadas na África.

RELATÓRIO DA ÚLTIMA SEMANA (de 14/10/13 a 18/10/13)

por Dario Galluccio.

Nigéria: MainOne assina acordo de refinanciamento de US $ 100 milhões com 4 bancos nigerianos.

Para expandir ainda mais seus serviços no fornecimento de serviços de banda larga por atacado e telecomunicações de banda larga, a MainOne Cable Company Limited assinou um contrato de refinanciamento de US $ 100 milhões com quatro bancos nigerianos - Skye Bank Plc, Standard Chartered Bank Limited, First Bank of Nigeria Limited e First City Monument Bank Plc.

O presidente da MainOne Cable, Fola Adeola, disse que a instalação era necessária para expandir as operações da empresa e facilitar ainda mais os negócios para seus clientes. Ele explicou que o fundo ajudaria a tornar a interconexão mais fácil e o acesso à Internet mais rápido e eficiente para os clientes da empresa.

A MainOne tem expandido seus serviços na Nigéria - seu principal mercado e outras partes da região da África Ocidental, incluindo Accra e Lomé.

Gana: França pronta para estabelecer mais negócios.

O embaixador da França em Gana, Frederic Clavier, expressou a prontidão do seu país para estabelecer mais negócios no país sob a Câmara de Comércio Francesa.

Falando durante uma visita à mina AngloGold Ashanti Iduapriem em Tarkwa, na Região Oeste, ele disse que o Gana provou ser um dos destinos de investimento perfeitos na sub-região. O embaixador Clavier disse que, dadas as relações de longa data entre os dois países, a França estava pronta para fazer parcerias com instituições em Gana para promover seu desenvolvimento socioeconômico.

Ele disse que algumas das áreas de cooperação social e econômica em Gana incluem educação, ciência e tecnologia. Ele disse que chegou a hora de as instituições de ensino superior do setor extrativo do país produzirem mais conhecimentos técnicos para capacitar as pessoas com as competências necessárias para aproveitar as oportunidades do setor.

Gana: Para impressionar os investidores em Chicago.

Investidores potenciais e existentes em Gana ficaram impressionados com a representação feita pela delegação de Gana à 9ª Bienal dos EUA & # 8211; Cimeira Empresarial de África organizada pelo Conselho Empresarial para África (CCA) em Chicago.

O fórum de duas horas “Doing Business in Ghana”, liderado pelo Ministério do Comércio e Indústria, foi organizado pelo Ghana Investment Promotion Center (GIPC) e deu aos participantes a oportunidade de aprender sobre oportunidades de negócios, políticas governamentais e histórias de sucesso privadas. altos funcionários do governo e representantes do Gana.

Os EUA & # 8211; A Africa Business Summit é organizada bienalmente para satisfazer as diversas necessidades dos países africanos anfitriões, potenciais investidores e parceiros de negócios. Essas necessidades incluem:

& # 8211; Obter informações sobre as oportunidades mais recentes de comércio e investimento nos setores mais promissores da África, incluindo agronegócio, energia, saúde, infraestrutura, capacitação, segurança, TIC e finanças;

& # 8211; Networking com até 1.500 representantes do setor privado e do governo dos EUA e da África;

& # 8211; Aprendizado de uma ampla gama de sessões informativas específicas do setor e focadas no país;

& # 8211; Explorar novas oportunidades de negócios, identificando áreas e projetos de crescimento específicos;

& # 8211; Descobrir as mais recentes opções de financiamento abertas para eles; & # 8211; Conhecer potenciais parceiros de negócios;

& # 8211; Interagindo com expositores representando empresas na vanguarda do investimento na África, e.

& # 8211; Fechando novos negócios.

Moçambique: empresas espanholas buscam oportunidades.

Representantes de 35 empresas espanholas chegaram a Maputo em busca de oportunidades de negócios. Em particular, as empresas estão interessadas em energia, tratamento de água, aeroportos, estradas e ferrovias.

No dia 8 de outubro, a delegação participou de uma reunião com empresas moçambicanas em busca de parcerias. O evento foi organizado pela Embaixada da Espanha em Maputo. Uma fonte da embaixada disse ao jornal “Noticias” que a delegação procura impulsionar a presença espanhola em Moçambique, com as empresas líderes mundiais a enviar representantes para a viagem.

A fonte afirmou que as três principais empresas do mundo na gestão de projetos de infraestrutura de transporte são espanholas. Além disso, o setor ferroviário espanhol está presente nos cinco continentes, com a rede ferroviária de alta velocidade da Espanha sendo a segunda maior do mundo. O país também é líder mundial em logística, refino de petróleo, finanças, segurança, biotecnologia, meio ambiente, tratamento de água, aeroespacial, tecnologia naval, informação e comunicações, saneamento e governança eletrônica.

Segundo a Embaixada da Espanha, grandes projectos planeados para electrificação, turismo e agro-negócio fazem de Moçambique uma economia de enorme interesse. O governo espanhol deve apoiar suas empresas por meio de uma linha de crédito de 75 milhões de euros (102 milhões de dólares).

Gana: Para impulsionar a cooperação econômica com a Indonésia.

O Sr. Lasro Simbolon, Diretor de Assuntos Africanos da Indonésia, liderou uma delegação de investidores para fazer uma visita de cortesia aos funcionários da Câmara de Comércio e Indústria de Gana para discutir a cooperação entre os dois países. Lasro Simbolon disse que os dois países poderiam colaborar para melhorar as relações bilaterais. "A Indonésia vê o potencial em áreas de crescimento econômico na África, e estamos comprometidos em ver que a transição é realizada com Gana", disse ele. Simbolon observou que os dois países tinham potenciais ricos para explorar oportunidades de negócios para sustentar a cooperação econômica. Ele disse que o Gana precisou de crescimento econômico em áreas de infraestrutura, agricultura, desenvolvimento tecnológico e capacitação e convidou os membros da Câmara para uma das maiores Exposições da Indonésia, realizada entre 16 de outubro e 20 de outubro.

Seth Adjei Baah, presidente da Câmara de Comércio e Indústria de Gana, disse que os dois países devem alinhar-se aos planos nacionais de desenvolvimento para melhorar a cooperação econômica para o bem-estar de seu povo. "Como você decide investir em Gana, tenha certeza de que seu dinheiro está seguro, nossas mãos estão abertas e acredito que podemos fazer mais colaborando uns com os outros", acrescentou.

Gana: Cedi estável em dólar dos EUA.

No entanto, a moeda local desvalorizou 14,5% em relação à moeda norte-americana no mercado cambial até o momento este ano. Analistas dizem que os esforços do Banco do Gana para apoiar o Gana Cedi e outros esforços de gestão de liquidez estão finalmente tendo um impacto positivo, apesar da demanda robusta de importação; eles estão prevendo uma nova moeda estável se o Banco Central continuar com suas operações de administração de liquidez, apesar da pressão dos grandes déficits em conta fiscal e corrente.

Enquanto isso, no mercado de câmbio hoje, o Cedi de Gana permaneceu relativamente estável em relação ao dólar americano. No entanto, subiu para as outras principais moedas estrangeiras no mercado interbancário.

África: setor privado de energia é fundamental para o futuro comercial do continente.

Co-fundador do fundo de infra-estrutura Africa50, de US $ 500 milhões, Kola Aluko diz que a contínua influência e crescimento de empresas independentes no setor de energia na África é vital para que o continente possa cumprir seu verdadeiro potencial como potência comercial. Falando a um público internacional de líderes empresariais durante uma discussão sobre os prospectos e desafios para o setor de energia da África na Cúpula Empresarial EUA-África em Chicago, Aluko fez a declaração como membro do painel, apenas duas semanas após a Fundação Made In Africa Fundada com o designer britânico Ozwald Boateng, lançou o fundo 'Africa50' em associação com o Banco Africano de Desenvolvimento, no NASDAQ em Nova York.

De acordo com Aluko: “No passado, 97% da produção da Nigéria era dominada pelas empresas petrolíferas internacionais, cujo foco compreensível é o que era melhor para os acionistas, nem sempre refletia o que era melhor para o país. Mas o governo está ciente da importância de mudar isso e a introdução de benefícios fiscais para os operadores independentes é um grande incentivo para trabalhar em prol do benefício mais amplo e gerar um efeito de gotejamento que beneficia a população ”.

África mostra interesse no Zimbábue.

Os países africanos continuam mostrando grande interesse em trazer seus investimentos para o Zimbábue, disse um especialista em investimentos. Tradicionalmente, os países asiáticos e europeus são conhecidos por investir no Zimbábue. O diretor executivo da Imara Zimbábue, Sr. Tino Kambasha, disse que grandes empresas de capital africano estão mostrando muito interesse no país. Ele acrescentou que o fato é que não se pode mais ignorar o Zimbábue e sua grande base de consumidores, já que muitos gestores de fundos de ações estão ansiosos para explorar oportunidades de forte crescimento de capital e altos rendimentos de ações.

A Fanisi Capital, uma firma queniana de private equity, anunciou recentemente que lançará seu segundo fundo de US $ 100 milhões para ser investido em novos mercados na África Austral antes do final do ano que vem, disse uma autoridade da companhia. O grupo de varejo Choppies Enterprises, listado na Bolsa de Valores de Botswana, anunciou na semana passada a aquisição de 49 por cento de uma rede de supermercados do Zimbábue, não identificada, que compreende 10 lojas.

Gana: governo otimista atingindo metas de receita.

O governo está otimista em atingir as metas de receita com novos aumentos de impostos, apesar das dificuldades atuais com a cobrança dos impostos. O governo está baseando seu otimismo nas atividades de negócios que surgiram no último trimestre deste ano.

Em agosto deste ano, o governo introduziu três novos impostos para suprir as deficiências de receita. Estes incluem o Imposto Nacional de Estabilização e o Código Aduaneiro e de Impostos Especiais nº 8211; no entanto, o terceiro projeto, o Special Import Bill, ainda está para ser apresentado ao Parlamento.

Até agora, o estado foi capaz de coletar GH ¢ 25 milhões da meta de receita de GH ¢ 371 milhões. Há temores de que o país não perceba a meta de receita por causa de uma desaceleração nas atividades comerciais, bem como atividades de contrabando nos portos; Mas o vice-ministro das Finanças, Kweku Ricketts-Hagan, disse que o Ministério instituiu medidas para garantir que a meta de US $ 371 milhões seja concretizada.

& # 8220; Os impostos podem ser o principal fluxo de receita, mas existem outros fluxos de receita tão grandes quanto os impostos que também vêm & # 8211; por isso, torna-se um caso de priorização de suas despesas ", disse ele.

Enquanto isso, bancos, empresas de mineração, empresas de telecomunicações e outras instituições financeiras estariam doando até o fim deste mês 5% de seus lucros como Estabilização de Imposto.

Nigéria: Total para financiar empreiteiros abaixo da iniciativa de US $ 7,5 bilhões.

A Total E & P Nigeria Limited e a Total Upstream Nigeria Limited, em parceria com 8 bancos, lançaram uma Iniciativa de Empreiteiros da Nigéria (NCI) de US $ 7,5 bilhões para criar um canal de financiamento sustentável para as empreiteiras locais dos gigantes de energia.

Com base no Memorando de Entendimento (MoU), que está de acordo com a política de conteúdo local da Nigéria, os contratantes, que incluem fornecedores e fornecedores, receberão capital suficiente, que também será domiciliado com os bancos parceiros. Total MD / CEO Sr. Maurice, disse no fim de semana que o MoU prevê uma relação de financiamento sustentável entre os bancos e contratantes indígenas da Total.

O Sr. Jibril Aku, diretor-gerente do Ecobank Nigeria, um dos bancos parceiros, explicou que o programa de finanças ajudaria a manter os contratados e ajudá-los a desempenhar um papel mais ativo no setor de petróleo e gás.

Os credores parceiros do NCI incluem o Ecobank Nigeria, o Zenith Bank, o Diamond Bank, o Guaranty Trust Bank (GTBank), o United Bank for Africa (UBA), o Standard Chartered Bank, o Access Bank e o Fidelity Bank.

Etiópia: Para lançar o Eurobond.

O primeiro-ministro da Etiópia, Hailemariam Desalegn, disse que seu país planeja lançar uma Eurobond depois de garantir sua classificação de crédito, mas não abrirá seus setores de telecomunicações e bancos para estrangeiros, já que a receita dos dois setores ajuda a financiar o desenvolvimento de infra-estrutura.

O apetite estrangeiro por títulos africanos tem sido forte à medida que os investidores lutam por altos rendimentos. No entanto, a declaração do primeiro-ministro Desalegn pode desapontar os investidores estrangeiros que esperavam por uma mudança de paradigma das políticas lideradas pelo Estado do ex-primeiro-ministro Meles Zenawi, que faleceu em agosto passado.

O primeiro-ministro disse aos jornalistas que manteria uma política que manteve o monopólio das telecomunicações nas mãos do Estado e o setor bancário - dominado por três instituições estatais - fora dos limites para estrangeiros, já que a renda ou o financiamento dessas entidades está sendo usado para desenvolver infra-estrutura do país. Dasalegn também disse que a nação da África Oriental está disposta a aproveitar o mercado de dívida internacional, emitindo um bônus externo para aliviar a escassez de moeda estrangeira do país.

Segundo ele, a Etiópia também lançará outros títulos ao lado do Eurobond.

Embora o primeiro-ministro Desalegn não tenha dado uma data exata sobre quando o país obterá uma classificação de crédito, ele insinuou que está em um estágio crítico ao lado da emissão do título. Uma classificação de crédito permite que os países acessem fundos fora de seu país. A posse de um bom rating de crédito atrai o Investimento Estrangeiro Direto porque fornece aos investidores informações sobre a estabilidade econômica do país em que estão investindo.

Enquanto isso, o ministro de Estado das Finanças e Desenvolvimento Econômico da Etiópia, Abraham Tekeste, disse que a economia etíope cresceu 9,7% no ano fiscal passado. A Etiópia, quinta maior economia da África Subsaariana, espera um IDE de cerca de US $ 2 bilhões por ano até 2015.

Zâmbia: mais investidores visam o setor de mineração.

Vários investidores chineses manifestaram interesse em investir no setor de mineração da Zâmbia por meio da iniciativa de Cooperação Sul-Sul da Organização das Nações Unidas (ONU), disse o ministro do Comércio, Comércio e Indústria, Emmanuel Chenda.

Chenda disse em uma entrevista que nos bastidores da Assembléia Geral da ONU realizada recentemente nos Estados Unidos da América (EUA), ele se reuniu com vários investidores em potencial, entre eles chineses, que manifestaram interesse em estabelecer empreendimentos de exploração mineral na Zâmbia.

Enquanto isso, Chenda disse que os benefícios da intervenção do governo para remover o subsídio aos combustíveis fósseis começaram a valer a pena, já que várias outras formas renováveis ​​de energia estão sendo identificadas. O ministro reiterou que manter o subsídio em combustível poderia ter afetado negativamente a capacidade do país de gerar energia de outras fontes.

Nigéria: Governo Federal atrai brasileiros para investir no poder.

Para garantir o rápido desenvolvimento da distribuição de eletricidade, o Governo Federal apelou ao governo brasileiro para investir no setor de energia da Nigéria, com vistas a renovar o setor em dificuldades. O Ministro do Poder, Prof. Chinedu Nebo, que disse isto enquanto recebia uma delegação brasileira liderada pelo Vice-Ministro do Desenvolvimento, Indústria e Comércio Internacional, Ricardo Shaefer, disse que o governo precisa de ajuda de todo o mundo para renovar o setor energético. .

O ministro também solicitou a sinergia e a cooperação dos brasileiros na Nigéria para garantir que todos os seus cidadãos estejam conectados à eletricidade. Ele disse que o Brasil tem se saído bem em muitos aspectos da eletricidade, especialmente em grandes hidrelétricas, biomassa, solar, eólica e carvão. A Nigéria pretende aprender com a experiência do Brasil, já que o país já saltou para a conquista de metas de desenvolvimento. ”

Em suas observações, o Secretário Permanente do Ministério do Poder, Amb. Godknows Igali, disse que as oportunidades no setor de energia estão em mega dimensão. Ele acrescentou que a meta da nação de mudar de mais de 4.000 mega watts para 40.000MW nos próximos sete anos exigiria esforços duplos dos amigos da Nigéria no exterior.

África do Sul: empresas francesas pediram para colaborar.

Empresas francesas e sul-africanas foram incentivadas a trabalhar juntas na industrialização da África do Sul e do continente africano. Falando em um fórum de negócios nos bastidores da visita do presidente francês François Hollande na segunda-feira, 14 de outubro, o ministro do Comércio e Indústria, Rob Davies, disse que a França está entre os cinco principais parceiros da União Européia. ), muito mais ainda precisava ser feito.

A França está entre os 10 principais parceiros comerciais da África do Sul. Os dois países têm relações comerciais e de investimento significativas e consideráveis.

Davies said that what needed to be improved were partnerships between the two countries on industrialisation. He said the African continent was recognised as one of the growing frontiers in the world and that the African region needed to integrate.

South Africa is engaged in a massive infrastructure programme, with the Southern African Development Community (SADC) having also set up infrastructure programmes, and these should form the basis for industrialisation, Davies said.

Zimbabwe: Nation to have new diamond miner.

The Government has granted a licence to Global Diamond Trekkers to explore for the gems in the Middle Sabi area of Manicaland province, about 100 km south east of the Chiadzwa fields. According to a statement issued by the company, it was given permission to investigate the potential for mining diamonds in the Middle Sabi area. The alluvial diamond concession lies in the Middle Sabi valley, about 167 km south of Mutare in Manicaland province.

Global Diamond Trekkers said it had since engaged a consultancy firm to conduct an Environmental Impact Assessment for the project. The company will in the short term conduct an exploration exercise to determine the extent of the resources. Thereafter it would seek compliance with industry regulator the Kimberly Process Certification Scheme.

Zimbabwe is a notable diamond producer with huge reserves of the mineral especially in the Marange area. The five joint-venture mines in Marange produced a combined eight million carats of the gems last year and generated at least US$684 million in exports.

Industry experts say Zimbabwe has the potential to account for at least 25 percent of global production by the end of the decade.

Nigeria: To take ICT investment drive to Silicon Valley.

The Ministry of Communication Technology is holding a Silicon Valley Investment Forum in San Francisco, United States of America (USA), to showcase the untapped potential of the Nigerian ICT sector – its success stories and investment opportunities to the global community.

The three-day forum will showcase the development of Nigeria’s technology sector including policy, economic development and individual success stories of start-ups in the country.

The aim of the forum is to further highlight the potential of the Nigerian ICT sector and increase exposure of ideation and innovation in Nigeria. The forum will showcase Nigeria’s Innovation drive and success stories of start-ups like Jumia, Co Creation Hub, Venia Business Hub, Wakanow, Interswitch, Paga etc. Also, a new report on Nigeria’s ICT sector by the Oxford Business Group will be circulated at the forum.

The Minister of Communication Technology, Mrs Omobola Johnson, will speak on the potential of the Nigerian ICT sector and initiatives of the Ministry to accelerate the growth of the sector.

Ethiopia: Growth is impressive – African Development Bank.

Ethiopia’s strong, decade-long economic growth made it possible for the country to be on track to achieve the Millennium Development Goals says the African Development Bank (AfDB).

In its latest publication “AfDB and Ethiopia – Partnering for Inclusive Growth” the Bank point to huge investment in infrastructure and commercialization of agriculture as major causes for the average 11% annual growth over the past nine years, making Ethiopia the biggest economy in East Africa.

The Bank lauded the government’s development policy that lead to broad based growth and a considerable reduction in poverty, noting pro-poor policies accounted for 69% of expenditure in the 2011-12 budget year alone.

Prudent monetary policies brought inflation down to 7.7% in 2013 from a high of 40% in mid-2011. The Bank underlines its commitment to continue partnership with Ethiopia, aligning its country strategy with the Growth and Transformation Plan.

It notes “the government of Ethiopia’s key development objective is to achieve inclusive, accelerated and sustained economic growth and to eradicate poverty” and expresses the Bank’s strong conviction of the prospects of Ethiopia’s development.

The Bank’s country strategy principles included alignment with the Growth and transformation Plan, prioritizing infrastructure, regional integration, governance and private sector development and supporting the East African Integration strategy. The Bank has therefore supported the Ethio-Djibouti Electric Power Interconnection Project, the Ethio-Kenya Electric Highway project, the Mombasa-Nairobi-Addis Ababa Road Corridor and the Rural Water Supply and Sanitation Program.

Since it joined the African Development Bank Group in 1964, Ethiopia has benefitted from loans and grants to the tune of US$3.75 billion, making it the sixth largest beneficiary in the continent.

South Sudan: Korean millionaires to invest.

South Sudan will soon witness a number of investors from Korea coming willingly to invest in diverse natural resources in the country. The government through the Ministry of Foreign Affairs and International Cooperation has already embarked on serious discussions on how these millionaires will be handled when they arrive in the country.

The head of Korean mission in Uganda, Park Jong Dae confirmed that the millionaires will arrive as soon as the necessary arrangements are completed. He said South Sudan has a promising investment potential and the Korean millionaires are interested to invest there.

He also said he will be leaving shortly for Juba to see how the Korean peace keepers can introduce new programs to improve its developmental service to South Sudan. The envoy disclosed all this after a meeting with the minister for Foreign Affairs and International Relations, Dr. Barnaba Marial Benjamin, while in Kampala.

Kenya: Standard Bank, ICBC raise $108m debt facility heavy fuel plant.

Standard Bank Group and the Industrial and Commercial Bank of China (ICBC) have concluded a $108 million debt financing package with Triumph Kenya to construct a 83MW heavy fuel oil plant in the east African nation. As mandated co-lead arrangers, CfC Stanbic Bank, a member of Standard Bank Group, provided $28 million of debt funding while ICBC supplied $80 million. The ICBC finance portion will be for the plant, currently being built 25km from Nairobi.

Kenya Power also signed a 20-year agreement with Triumph to purchase power from the plant, which will be a crucial supplier to the utility during times of drought when the country’s hydroelectric generating capacity becomes constrained.

The World Bank’s Multilateral Investment Guarantee Agency (MIGA) will provide $102.5 million in breach of contract insurance should Kenya Power fail to honour its 20-year power purchase agreement with Triumph. MIGA’s insurance will also cover the Government of Kenya’s obligations under the Government of Kenya Letter of Support.

Kenya has historically relied on hydropower for most of its electricity needs and has a current installed generating capacity of 1,672 MW, compared with peak power demand of 1,330 MW. The nation’s economy has expanded at an average rate of 4-5 percent over the last 3 years.

Nigeria: Fitch rates economy stable.

Fitch Ratings, an international independent rating agency, rated Nigeria’s economic outlook as stable. The agency also affirmed the country’s long-term foreign and local currency IDRs and senior unsecured bond ratings at ‘BB-‘ and ‘BB’ respectively, while the short-term foreign currency IDR was rated ‘B’ and Country Ceiling at ‘BB-‘. This vote of confidence on the prospects of the Nigerian economy is coming a few days after another respected international rating agency, Standard & Poor’s also affirmed a strong and positive rating for the management of the economy.

According to the agency, the affirmation reflects the following key rating drivers, a gross domestic product (GDP) growth of 6.4 per cent in the first half of 2013, noting that though lower than the level in 2012, the country showed resilience in the face of exogenous shocks.

The agency noted the non-oil economy had slowed but still grew by 7.9 per cent in 2012 and 7.6 per cent in the first half of 2013. The agency expressed optimism that non-oil growth should pick up in the second half of 2013, as normal weather had resumed and the authorities had responded to the security problems. Reforms to the electricity and agriculture sectors could start to boost potential growth.

Other key drivers of the rating, as highlighted by the agency, included inflation rate, which had remained in single digits all year – the lowest in five years and the longest stretch of single digit inflation since 2008. Also, policy rates were unchanged and the Central Bank of Nigeria (CBN) had the twin aims of achieving single-digit inflation and maintaining exchange rate stability. Fitch also adjudged public finances as remaining comfortable and estimated a general government deficit of around 1.8 per cent of GDP this year and next.

Ghana: Fitch downgrades … From B+ to B.

Fitch has downgraded Ghana from a B to a B, largely because of the government’s difficulty in managing the rising wage bill and of the increased debt to GDP ratio pose short-term challenges to the economy. Ghana was put on a B (negative) outlook in February this year and has since been under continuous assessment by Fitch, which had expressed concern over several factors affecting the short-term health of Ghana’s economy.

While experts recognise Ghana’s bright prospects in the medium term, it is believed that the government will struggle with controlling the fiscal situation over the next 18 months.

The outlook for post-2015 looks much better,” a sources, close to the rating agency, said, citing Ghana’s removal of subsidies on petroleum products as helping the fiscal situation, but continued subsidies on utilities, especially power, posed challenges for fiscal stability and growth going forward.

South Africa: Eskom wins R1.3 billion French solar loan.

France is to lend €100-million (R1.3-billion) to South African state company Eskom to help finance a 100 megawatt (MW) concentrating solar power plant near Upington in the Northern Cape. Eskom and the French Development Agency (AFD) agreed, during French President Francois Hollande’s state visit to South Africa, to facilitate the signing of the loan.

Eskom chief executive Brian Dames said in a statement that the Upington CSP project, one of Eskom’s first commercial-scale renewable energy projects outside of its existing hydro portfolio, “puts us on a path towards reducing our carbon footprint and investing in a sustainable energy future”. The Upington CSP project is expected to deliver an annual energy production of 525 GWh and will be sufficient to power 200 000 homes.

Liberia leads the table of biggest governance improvers in Africa since 2000, and has seen largest improvements in Safety & Rule of Law.

The 2013 Ibrahim Index of African Governance (IIAG) revealed that Liberia is the ‘most improved country’ on the continent in terms of overall governance since 2000. The top five most improved countries in the 2013 IIAG are all post-conflict countries: Liberia, Angola, Sierra Leone, Rwanda and Burundi.

The 2013 IIAG provides full details of Liberia’s performance across four categories of governance: Safety & Rule of Law, Participation & Human Rights, Sustainable Economic Opportunity and Human Development. Since 2000, Liberia has shown its biggest improvement in the category of Safety & Rule of Law, which measures judicial functions, accountability, transparency and corruption, property rights, personal safety and national security, among others.

Liberia’s performance in the 2013 IIAG stands as follow: Ranks 29th (out of 52) overall; scores 50.3 (out of 100), lower than the African; average (51.6); has improved by +24.8 since 2000; ranks 10th (out of 16) in the West African region; scores lower than the regional average for West Africa (52.5) and ranks highest in the category Participation & Human Rights (19th out of 52).

According to report, West Africa ranks 3rd out of five regions at the overall governance level. This has been the case every year since 2000, except in 2011 when it ranked 2nd.

South Africa: Old Mutual set to invest $101m in Africa.

Old Mutual Investment Group SA (Omigsa) said it is set to raise R10 billion ($101 million) to invest in private equity, infrastructure and agriculture funds throughout Africa. Diane Radley, the CEO at Omigsa, said domestic pension funds will be used as sources for the investment money that will generate long-term yields.

According to Radley, by 2050 at least one in three youngsters in the globe will be living in the African continent; this, she said, will turn Africa into one of the greatest and thrilling consumer markets going forward.

Omigsa, the South Africa-based unit of Old Mutual, is Africa’s biggest insurance company listed on London and Johannesburg stock exchanges.

Nigeria: Brittania-U offers $1.2 Billion for Chevron Oil blocs.

Brittania-U Nigeria Limited, a Lagos-based marginal oil field operator, has reportedly offered Chevron a $1.2 billion for 3 of its listed oil blocs, throwing lower bidders into panic. Chevron has been seeking to liquidate its 40 percent stake in blocs OMLs 52, 53, 55, 83 and 85, listing them for sale to local operators. The indigenous oil firm has been rivalled by fellow operators Seplat/Amni Production, Niger Delta Petroleum/SAPETRO and Sahara/Septa – all Nigerian companies – seeking to acquire the reserves-rich fields. The blocs are said to hold oil reserves in excess of 250 million barrels of oil and over 3.5 billion cubic feet of gas, valued at $400 million.

Though no official declaration has been made, Brittania-U’s latest bid – believed to be $1 billion higher than other bids – looks set to put an end to the 3-month bidding process. Brittania-U is bidding to buy OMLs 52, 53 and 55, estimated to contain proven oil and gas reserves of 555 million barrels of oil equivalent (MMBOE), a Business Day report revealed.

The oil and gas company’s astonishing offer has been supported by an equity financing partner, an arrangement Eddy Wikina, former external relation affairs manager, Shell Nigeria Exploration Petroleum Company (SNEPCO), feels was easy initiated due to the company’s excellent credit rating.

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On the quality of higher education (and human capital development) in Africa.

Reflex Eco Group – Africa News.

by Kennedy Opalo (Kenyan journalist)

According to The Times Higher Education World University Rankings 2012-2013, the highest ranked university in Africa, the University of Cape Town, is 113th in the world. The ranking system employs 13 performance indicators that take into account universities’ core functions, including “research, knowledge transfer and international outlook.” Among the leading 400 world academic institutions, there are only four from Africa, all in South Africa. As a region, Africa only has 35 scientists and engineers per million inhabitants, compared with 168 in Brazil, 2,457 in Europe and 4,103 in the United States. The region is clearly behind as far as knowledge production and dissemination is concerned, producing only 1.1 percent of the world’s scientific knowledge, despite comprising more than 13 percent of the global population.

At barely over 8 percent, Africa’s gross enrollment in tertiary institutions of learning is the lowest of any region in the world (UNESCO, 2011). The average enrollment rate for developing countries is 23 percent, and that for advanced countries is 74 percent. Africa’s poor showing in the higher education sweepstakes is both a cause and effect of the region’s poor economic environment. The massive cuts in higher education funding in the wake of the structural adjustment programs of the 1980s and 1990s, even as enrollment more than tripled between 1991 and 2005, have had an adverse impact on quality. And in turn, the lack of high quality tertiary level education has starved the region of high skills needed for efficient allocation of factors of production thereby stunting improvement in productivity, high value addition and research and development. Africa devotes less than 1 percent of its GDP to research and development.

Data from 33 countries for which it is available show that tertiary education financing in the region has declined from a high of US $6,800 per student per year in 1980 to just about $981 in 2005. Over the same period the World Bank decreased its education lending from 17 percent in 1985-89 to just 7.5 percent currently (this is despite the fact that the World Bank nearly doubled its education lending between 2008 and 2009). The decline in public funding in the face of increasing demand for higher education has led to the proliferation of private universities of dubious standards and a bias towards perceived “soft” fields. In 2004 a meager 28 percent of students were enrolled in perceived “hard” disciplines in the sciences and engineering.

A 2008 study of 12 countries showed an increase in public universities from 113 to 188 between 1995 and 2008. Over the same period private universities ballooned from 14 to 107. This rapid increase in the number of universities in the region has not been matched by an increase in the number of trained teaching staff or facilities such as laboratories, libraries, and the like. Indeed, most of the new universities have tended to specialize in vocational subjects that require very little capital and human resource investment. To put it mildly, there is a great mismatch between the region’s development needs and the type of graduates it produces each year.

The shortage of skills permeates nearly all skill levels, and could get worse as the region’s economy continues to grow over the next two decades. The case of Kenya is illustrative. The country has an ambitious plan to be the information and communication technology (ICT) hub of Eastern Africa (dubbed the “Silicon Savannah”) complete with a proposed $10 billion techno-city (Konza City) situated about 60 kilometres southeast of Nairobi. Already ICT multinationals, including IBM, Microsoft, Google and Intel, have their regional headquarters in Kenya. All this sounds good, except the lack of local skills. IBM’s research lab in Kenya has had to source for top talent among graduates in computer science, electrical engineering, mathematics, and data scientists from American universities. There is still a shortage of required skills among graduates of Kenyan universities. Quality assurance is also lacking, as recent news reports of “theses for hire” have demonstrated.

As the Kenyan case suggests, the lack of sufficient investment in high quality tertiary education has adversely impacted Africa’s ability to realize its economic potential. A 2005 study showed that a one-year increase in the higher education stock of the region could boost growth rate by about 0.63 percentage points. This adds up to an overall increase in income by about 12 percent over five years. For the region to take off economically there is need for greater investment in quality higher education that will train workers for the 21st century economy. But improving the quality of higher education in the region will be a very costly affair. On their own, the region’s countries lack both the resources (on account of their small economies) and demand (on account of their population sizes) to justify the types of investments required. This is where regional cooperation comes in.

Cross-border educational exchanges are not new in Africa, and go back to the pre-independence era. For generations non-Senegalese francophone students have studied in Senegal, seen as a cheap way of getting quality education at par with diplomas from France. Uganda, with East Africa’s top university, Makerere, hosts legions of Kenyan students, eager to avoid congestion and high costs back home. South Africa, with its many quality institutions is also a preferred destination for students from across the continent. These historical cross-border exchanges have led to the formation of regional associations of higher education – the francophone Conseil Africain et Malgache pour l’Enseignement Superieur (CAMES); Inter-University Council of East Africa (IUCEA); Southern African Regional Universities Association (SARUA); and inter-university cooperation under the Arab Maghreb Union (AMU). Continent-wide, the 208-member Association of African Universities (representing 45 countries) is the umbrella organization of the region’s institutions of higher learning.

These associations need to be strengthened and empowered as drivers of regional harmonization of higher education both to facilitate cross-border inter-university mobility of both teachers and students and guarantee quality assurance. As a 2007 World Bank report aptly noted, “regional quality assurance networks are particularly relevant to Africa because of human resource constraints.” On this score the European Higher Education Area provides a possible model. The just over 10 years old Bologna process is working towards ensuring inter-university mobility (in terms of courses, qualifications, and periods of study) as well as a uniform quality assurance standard. In the African context, a continent-wide area of higher education is infeasible because of language and logistical constraints. However, sub-regional areas of higher education, based on the existing associations, provide a possible avenue to invest in a few good institutions of higher learning that can have a demonstrative effect on national institutions as well set high standards of learning. The associations themselves can also serve as certification bodies to ensure a uniform quality assurance standard (see here).

The announcement in late July 2013 of the creation of a new US $154.2 million multinational science, innovation and technology Pan African University (PAU) in the next five years is therefore welcome. (The African Development Bank (AfDB) has pledged a $45 million grant towards the effort.) PAU will be structured around existing institutions of higher learning across Africa’s five sub-regions. Basic sciences, technology and innovation will be based in East Africa; earth and life sciences including health and agriculture in West Africa; governance, humanities and social sciences in Central Africa; water and energy sciences including climate change in North Africa; and space sciences in Southern Africa.

Thus far, discussions over regional integration of systems of higher education have tended to view tertiary institutions as tools for regional economic and political integration – be it in East Africa, Europe or East Asia. However, the creation of stronger regional areas of higher education – especially in a region like Africa – can also be an economically efficient way of facilitating greater investment in higher education to match the demands of a 21st century economy. It is encouraging that current trends signal a move in this direction. University systems in Africa’s sub-regions would be a good place to start.

I conclude with a caution. The rapid increase in the number of public and private universities in Africa over the last two decades has come at the expense of other post-secondary institutions of learning such as polytechnics (this shift has occurred to a lesser extent in francophone Africa than anglophone Africa). In many countries governments have simply converted polytechnics and other constituent colleges into fully-fledged universities. This trend is worrying, especially given the fact that the vast majority of high school leavers on the continent do not make it to university. The low quality of high school education in the region (as demonstrated by the recent mass student failures in Liberia and Tanzania) is yet another reason why these “bridge” tertiary institutions are needed, both to prepare students for university and to impart valuable skills for those that do not eventually make it to university.

The rush to invest in university education should not distract from the fact that vocational post-secondary institutions, such as polytechnics, are an important component of human capital development, even in advanced countries as is the case in Germany (with its impressive “dual system” of training codified in the Vocational Training Act of 1969). As African economies move from dependence on primary commodities to manufacturing and technology, there will be need for skilled workers at all occupational levels. Doing away with vocational post-secondary institutions will only serve to further inhibit the development of adequate and relevant human capital to match the increased demand for skilled workers.

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Most African countries will be middle income by 2040.

Reflex Eco Group – Africa News.

Interview with Carlos Lopes, executive secretary, Economic Commission for Africa.

The 2013 Economic Report on Africa appears to mirror the 2012 report. What has changed over the past year?

Carlos Lopes: Not necessarily on the economy, but in terms of the mentality and the priorities, there is a sea change taking place. We are working with the African Development Bank and the African Union Commission on something called Vision 2063—50 years from now. We got African ministers of finance to approve the idea of transforming African economies and shift from agriculture into industrial and service sectors. This has to be done now for three reasons. First, it’s because you do your big transformation when you are on a growth path, not when you are in recession. Second, you transform when you actually have an increasing urban population, which is what is happening now in Africa. And third, you do it when there is a good macroeconomic environment, which we do have. Our reserves are now at an all-time high—half a trillion dollars. We have inflation around 7% on average. We have managed to get the regulatory system right, particularly on the financial sector. Budget deficits are under control. We are saying that industrialization is the key driver of this transformation.

At the macroeconomic level, a lot of progress has been made. But there is still joblessness.

First of all, what is the value of labour statistics in Africa? The definition of employment as applied in other regions has very little currency in understanding the current reality in Africa. Right now we have a major statistical problem on the continent. So you are talking about not knowing, apart from guessing games, the real characteristics of the composition of GDP in African countries. Demographics—same problems. You have only about 12 African countries that have done a census in the last 10 years. The quality of methodological development in terms of checking the trends in census has not been followed in many countries, even those with the means to do so. For example, Nigeria is now revising its base years for national accounting.

Is that a reasonable thing to do in Nigeria? It seems like statistical manipulation—an arbitrary upward GDP revision.

We will come to that, let me address jobs. One of the areas where we have a weakness is precisely employment and labour statistics. We don’t know exactly how many people are really employed. If you take the statistics of South Africa you can be almost sure they are on the mark because they have more sophisticated machinery. For the rest, we have a guessing game. So to say it’s a jobless growth or a growth that is losing a lot of jobs—both are wild guesses. What we know for sure is that the population is increasing too fast and there is no historical precedent in the world where you have this kind of curve. This means we have to create 10 million jobs a year.

Most investments in Africa are in the extractive sector, which does not produce many jobs. Is it not possible we are experiencing a jobless growth?

Jobless growth? I don’t believe it! I think we are not creating as many jobs as required by the economy, but it’s not a jobless growth. Right now there are people that are occupied, not employed, and we don’t know the dynamics of the situation because we have not adapted labour statistics to capture the types of activities that typically an urban young African has. People are occupied but don’t have jobs. We don’t have a way of capturing these types of activities because it’s informal. Labour statistics are very scanty and static; they were designed for a reality that is not the African reality.

Is there therefore a need to have special parameters for measuring labour statistics in Africa?

We need to do that. This is something that ECA is definitely going to do. There is a tremendous poverty of numbers. One of the contributions ECA has to make is to address gaps of information that capture the exact economic activities taking place in Africa and give a better picture that allows planners to do their job. And that starts with statistics.

Your report calls for value addition to Africa’s commodities. This should be a commonsense approach.

The conventional wisdom is that when you have a commodity boom you also have a commodity curse, and therefore it is very rare for commodity-rich countries to move into industrialization. But historical facts demonstrate the opposite. A number of regions in the world, including this country [the United States], have developed their industries on the basis of commodities. So we have to be much more sophisticated in the way we deal with commodity-based industrialization than in the past. First step, you assess what has happened; we have nine case studies [in the ECA report]. We look into what happened and then try to understand the mistakes made and the positives as well. Second, we say this is not just about regulation, but regulation plays a very important role, including sophisticated protectionism.

What is sophisticated protectionism?

Protection is not a bad word. But we should do it with sophistication, which means you have to have the right balance. Then we come to regional integration. You are not going to industrialize if each country tries to survive on its own little thing. For example, Togo wants to survive on toothpaste produced in Togo and Benin wants to produce its own. Some markets are big enough—certainly Nigeria. But the majority of the countries would not be in a position to take advantage of industrialization if they don’t integrate regionally. We have been talking about regional integration for 50 years. Is it happening? Well, there has been progress but that progress is timid.

Sophisticated protectionism sounds like regulation. The World Trade Organization is likely to oppose that.

But we are talking about the African agenda. The WTO is a negotiating platform.

The African economy is integrated in the world’s economy.

Integrated to a point. What you need is to make the case for an Africa agenda.

Can that case be successfully made?

Well, the EPA [Economic Partnership Agreements] discussion is still ongoing—so why not? There is no country in the world that has industrialized without sophisticated protectionism.

What about the argument that formulating new policies to regulate trade is anti–free market?

It’s not a matter of choosing between state and market as if these were two opposites. That discussion is over. Everybody agrees now that there is a role for the state and there is a role for the market. There are regulations that are necessary. This country [the US], Europe, Japan have done it. The moment they get in crisis, what do they do? They intervene in the banks and so on. So that discussion is over.

What about subsidies for farmers in the West, which tend to affect African farmers who cannot compete on the international market?

Africa will continue to fight. Maybe they will never succeed in that fight. They should not put their eggs into that basket too much.

Because Africa has many other opportunities. It doesn’t need to focus on the export of soft commodities as its primary goal.

Are you suggesting that Africa can downplay commodities like cocoa, cotton and others and concentrate on other opportunities?

Sim. First, there are commodities that Africa, because of its monopoly position, should be able to get better deals from, like cocoa. Second, it’s a lost battle because Europe will not give up. And third, the future of Africa is not in soft commodities; the future of Africa is in industrialization. Yes, we need to produce agricultural products big-time—but for Africa.

But can you separate industrialization from a focus on soft commodities?

No, I don’t separate the two. If we are saying industrialization in Africa is necessary, it will be commodity-based. That includes soft commodities, but a few, not many. Like cocoa and cotton. You can even think of sugar. There is a market for it. But for the rest, the agricultural production of Africa should turn into Africa consumption. I hate to use the term world food security because it carries a lot of baggage. It immediately connotes we are taking care of people affected by drought. It’s much more than that. It’s about creating a market for consumption of agricultural products in Africa.

Back to integration. It appears that there is more activity at the regional level than at the continental level.

Well, African Free TradeZoneinitiative says it very clearly that the future will be through regional blocs, the regional economic communities. The problem we are facing right now is that the regional economic communities are in different speeds. From the most exciting East African Community to the Maghreb Union, you have very different dynamics going on. What investors would like to know is that whatever I invest in Country A is going to have the possibility of flowing in whatever direction it flows. They will say, OK, this is a key port, a key city, a key industrial hub, a key IT innovation centre—that is very powerful. And if you sell it as part of an Africa-wide approach, that’s very attractive.

There appears to be a lot of emphasis on foreign direct investment in Africa. But intra-Africa trade is only about 12% and…

Well, again, 12% measured how? Which statistics?

That’s coming from your institution.

The majority of the intra-Africa trade is informal. Everybody knows that. You just go to any important border crossing. See what is going on there and you know that 80% of the transactions are informal. This is the border post, and what about those that don’t even go through the border post?

So you believe that intra-Africa trade is more than 12%?

I think it’s officially 12%. But this has to be qualified with two footnotes: firstly, it doesn’t include the informal transactions, and secondly, the statistics are old. Essa é a realidade. But there is no doubt whatsoever that it’s way below what it should be.

The Continental Free Trade Area by 2017—is that expected to help intra-Africa trade?

It’s a political tag. For me it expresses ambition. In these days, any expression of ambition on the part of African leaders has to be taken as a good sign of self-confidence. But technically, it’s very difficult.

Currently, China is Africa’s biggest trading partner. Many believe the Chinese are taking more than they are investing.

The African Union has taken a decision. They have put a brake on new partnerships and called for a review of the existing partnerships. When I talk about China’s relations, I like to throw one number which tells the story: the totality of Chinese investment in Africa is 5% of Chinese investment in the world.

That’s quite small.

It’s very small; but we make a big fuss of it. If you compare the last 10 years—the increase in Chinese investments in Africa with Chinese investments in Latin America, Asia, Europe, even in the US—which one comes last? África. So we need to stop the easygoing bashing. The Chinese economy is occupying a much different size in the world economy and Africa is part of that trend.

Since your appointment last year as ECA executive secretary you have started to implement reforms. What’s your goal?

I would put it in simple terms. We are not going to make a difference if we don’t really become specialized on the knowledge of Africa’s economic activities. That means huge emphasis on statistics; that means being able to produce best country profiles in the world on the African economies; that means being aware of impact. This leads to specialization. Different parts of ECA are becoming specialized.

How do the statistics you generate impact individual country economies?

Enorme. Because you can’t do planning, which is a priority for Africa in general, without good statistics. We are saying statistics can improve in Africa. We are pulling all UN agencies that have statistical responsibilities into a big Africa initiative of UN support for African statistics. But in order for us to do that, we have to be seen as the real leader on statistics. Therefore we have to have the capacity that is beyond dispute.

Finally, what is your vision for the African economy?

I have no doubt that Africa will emerge. If we use that expression emerging economies, Africa will be a strong, emerging economy. I have no doubt that by the year 2040 most African countries will be middle income and we will have the largest work force of any continent, and the youngest.

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Notícias & amp; Dicas

Today’s market overview.

Growth in the euro-zone’s biggest economies beat economic forecasts. In Germany, GDP in the second quarter rose 0.7 per cent against flat growth in the first quarter, while comparative growth in France expanded by 0.5 per cent.

Rio Tinto (RIO) said that it expects falling output and job cuts at its Warkworth coal mine in New South Wales, regardless of its appeal against a court decision to block plans to extend the life of the operation. Meanwhile, Rio’s share price hit a five-month high on speculation that it is making progress towards selling off its aluminium business Alcan.

Mountview Estates (MTV) revealed strong performance over the last quarter with earnings per share up by over 16 per cent compared with the corresponding period last year. The management team has already made purchases over £20m since 1 April 2013. Gearing remains at a modest level and the board remains confident of the group’s financial stability.

Swiss resource giant Glencore Xstrata (GLEN) said it plans to lay-off the bulk of its workforce at its $5.9bn copper project in the Philippines which has been stalled by regulators. The Tampakan mine is cutting costs as the approvals process drags on. The group said that no investment decision can be made until regional approvals are obtained. Out of 1,060 workers, the company is dismissing 300 regular and project employees and about 620 contract workers, reducing the monthly spend from a planned $4m to about $1m.

Pilat Media Global (PGB) has entered into three new IBMS streamlining contracts that are estimated to contribute about £3m of license revenues and implementation fees in total during the current accounting period.

Quindell Portfolio (QPP) has delivered a trading statement with performance indicators that are “in line or ahead of half-year expectations”. Shareholders can expect basic earnings of 0.9p a share for the six months to 30 June, with pre-tax profits of £43.5m.

Kazakhstan-focussed oil & gas explorer Max Petroleum (MXP) has commenced drilling the SAGW-5 appraisal well in the Sagiz West Field on Block E using the Zhanros ZJ-30 rig. The well will be drilled to a total vertical depth of 1,400 metres, targeting Triassic reservoirs.

Board changes at Capital & Regional (CAL) with Mark Bourgeois appointed as an executive director and Xavier Pullen, one of the founders of the company, stepping down from 31 December 2013. Mr Pullen, however, will continue to maintain close links with the company. It is the intention that he will subsequently take up the role of senior adviser and will support the execution of the strategy for Germany.

It transpires that BP (BP.) is suing the US government for barring the company from obtaining new federal contracts. Last November, the Environmental Protection Agency banned from new contracts, citing the company after the Deepwater Horizon explosion.

The private equity group Advent International has sold Domestic & General to rival CVC Capital Partners, in a deal worth an estimated £750m.

Posted in exchange rate.

Choose Your Language Of Preference Below.

By Shapi Shacinda.

LUSAKA (Reuters) – Zambia has enough currency reserves to protect the economy in case the illness of President Levy Mwanawasa prompts some reduction in foreign investment, central bank Governor Caleb Fundanga said on Tuesday.

Fundanga said the only slight worry of the Bank of Zambia (BoZ) was rising oil and food prices, which threatened its single digit inflation target. However, he remained optimistic of achieving 7.0 percent annual inflation in December this year.

Fundanga said it was evident the illness of Mwanawasa, who is in a French hospital after suffering a second stroke, had caused anxiety among some investors but that there was “no need for panic”.

“The investors in the mines will continue exporting copper. It is possible that … some investors may decide to pull out, but we have enough reserves, $1.4 billion held by the Bank of Zambia and another $1 billion by commercial banks,” Fundanga told a news conference, adding Zambia had 5.6 months of import cover.

Mwanawasa impressed the International Monetary Fund and other Western donors by cracking down on government spending and launching an anti-corruption drive.

Fundanga said Zambia had investment pledges totalling $1.8 billion so far this year compared with just $1 billion in the first six months of 2007. The government has previously said a number of these investments have been fulfilled.

“Naturally, as a result of the illness of the captain, as some refer to the president, there are some people who might be feeling uncomfortable. Given this situation, are we vulnerable? Will all forex (foreign exchange) dry up? The answer is ‘no’,” Fundanga added.

He said mining and non-traditional sectors had continued to perform satisfactorily with copper export earnings for the three months to June just 0.1 percent lower than the previous quarter’s earnings, at $967.6 million.

Fundanga said non-traditional exports at $187.6 million at end-June were 12.3 percent above the $167.1 million recorded in the previous quarter ending in March.

“Favourable export earnings have led to the strengthening of the external sector reflected in the appreciation of the kwacha against major currencies and a 10 percent increase in international reserves to $1,338.4 billion in June 2008 from $1,216.3 billion in March 2008,” ele disse.

There were inflationary pressures from a 15 percent wage increase for civil servants from January and from higher global oil prices, which would put pressure on transport and commodity prices.

“However, these pressures may be mitigated by pass-through effects of the appreciation of the exchange rate of the (Zambian) kwacha against major currencies on account of external sector performance,” Fundanga said.

Fundanga said the kwacha appreciated 11.3 percent against the dollar in the three months to June to trade at an average of 3,259/dollar.

“We cannot give up on 7.0 percent inflation at the end of the year because we have enough food to feed ourselves and we will not necessarily be affected by global food prices,” ele adicionou.

(Lusaka newsroom + 260-977843609/260-955779523)

© Reuters 2008. All Rights Reserved.

Dollar Sets a New Record Low – Money News.

BERLIN — The dollar sank to a new low against the euro Wednesday on pessimism about the American economy and speculation Washington will soon cut interest rates again.

The euro spiked to $1.4855 before retreating slightly to $1.4787 in morning European trading. It broke the $1.48 mark for the first time on Tuesday, settling at $1.4815 late in New York.

The dollar also hit a two-year low against the Japanese yen, falling to purchase as little as 108.81 yen before rising slightly to 109.19 yen – compared with 109.69 yen in New York on Tuesday. It was last lower when it purchased 108.76 yen on Sept. 5, 2005.

The British pound was down slightly to $2.0639 from $2.0667 in New York.

The euro, the pound and other currencies have been climbing steadily against the dollar since August amid fears for the health of the U. S. economy, stoked by the subprime credit crisis.

Surging oil prices – which rose to a new record high above $99 in early Asian trading Wednesday – have driven up commodity-backed currencies such as those of Canada, Australia and New Zealand.

The dollar has been further weakened by U. S. interest rate cuts – which can be used to jump-start an economy, but can also weaken a currency as investors transfer funds to countries where they can earn higher returns.

On Tuesday the U. S. Federal Reserve released the minutes of its October meeting and its economic forecasts for the next three years, which suggested to investors that a December rate cut was imminent given the state of turmoil in credit markets and the Fed’s forecast of decreasing inflationary risk – contributing to the dollar’s weakness.

© 2007 Associated Press. Todos os direitos reservados. This material may not be published, broadcast, rewritten or redistributed.

LuSE Going It Alone … Forget JSE.

Choose Your Language Of Preference Below.

LuSE abandons plans to link itself to JSE.

THE Lusaka Stock Exchange has abandoned an ambitious plan to link with Johannesburg Stock Exchange (JSE)- Securities and Exchange due to cost considerations.

Johannesburg Stock Exchange – Africa’s Largest.

Last year, LuSE indicated that it was scouting for US$1.1 million to link its operations with JSE Securities and Exchange by this year.

LuSE had also said the World Bank’s International Finance Corporation was studying LuSE’s plan and would fund the project.

But responding to a press query, LuSE general manager, Beatrice Nkhanza, said plans to link with JSE had been abandoned for various reasons among them the cost considerations.

“Plans to link LuSE to JSE have been abandoned for various reasons.

LuSE therefore is going it alone…by sourcing and financing of the system, just like Nairobi, Dar-es Salaam and Botswana,” she said.

Mrs Nkhanza however pointed out that LuSE was in the process of sourcing and installing an automated system and was currently consulting.

She stated the automated system would be operational sometime next year.

Mrs Nkhanza said in the region, only Namibia Stock Exchange was linked to the JSE Securities and.

The aim of linking with JSE Securities and Exchange was to integrate network of national securities market in the region.

In 1997 at Livingstone’s Sun hotel, a committee of Southern Africa Development Community Stock Exchange was formed to integrate stock exchanges, make markets liquid and improve their operations.

By last year September, member States that included South Africa, Botswana, Namibia, Malawi, Mozambique and Zambia had harmonised listing requirements.

Getting LuSE linked with JSE securities and Exchange was expected to create a central point for inflow of foreign portfolio investment and enhance LuSE’s exposure to investors.

Other expected benefits included improved liquidity across multiple markets and LuSE being able to be seen on the London Stock Exchange via JSE Securities and Exchange.

Zambia Daily Mail.

China Soon To Have 3rd Largest Economy In The World.

KARRATHA, Australia (AP) — For nearly three decades, Chinese peasants have left their villages for crowded dormitories and sweaty assembly lines, churning out goods for world markets. Now, China is turning the tables.

Robert Yu, president of Chinese car maker ZhongXing Automobile Auto, presents models in Tijuana, Mexico.

Here in the Australian Outback, Shane Padley toils in the scorching heat, 2,000 miles from his home, to build an extension to a liquefied natural gas plant that feeds China’s ravenous hunger for energy.

At night, the 34-year-old carpenter sleeps in a tin dwelling known as a “donga,” the size of a shipping container and divided into four rooms, each barely big enough for a bed. There are few other places for Padley to live in this boomtown.

Duct-taped to the wall is a snapshot of the blonde girlfriend he left behind and worries he may lose. But, he says, “I can make nearly double what I’d be making back home in the Sydney area.”

The reason: China.

For years, China’s booming economy touched daily life in the West most visibly through the “made-in-China” label on everything from clothes to computers. But now, economic growth is giving rise to something more that can’t be measured just by widgets and gadgets — a shift in China’s balance of power with the rest of the world.

China’s reach now extends from the Australian desert through the Sahara to the Amazonian jungle — and it’s those regions supplying goods for China, not just the other way around. China has stepped up its political and diplomatic presence, most notably in Africa, where it is funneling billions of dollars in aid. And it is increasingly shaping the lifestyle of people around the world, as the United States did before it, right down to the Mandarin-language courses being taught in schools from Argentina to Virginia.

China, like the United States, is also learning that global power cuts both ways. The backlash over tainted toothpaste and toxic pet food has been severe, as has the criticism over China’s support for regimes such as Sudan’s.

To understand why China’s influence is increasingly pushing past its borders, just do the math.

When 1.3 billion people want something, the world feels it. And when those people in ever increasing numbers are joining a swelling middle class eager for a richer lifestyle, the world feels it even more. If China’s growth continues, its consumer market will be the world’s second largest by 2015. The Chinese already eat 32 percent of the world’s rice, build with 47 percent of its cement and smoke one out of every three cigarettes.

China’s desire for expensive hardwood to turn into top-quality floorboards for its luxury skyscrapers has penetrated deep into the Amazon jungle. For example, in the isolated community of Novo Progresso, or New Progress in Portuguese, one of the biggest sawmills was started by the mayor with financing from Chinese investors.

China accounts for 30 percent of the wood exported from logging operations in remote towns across Brazil’s rain forest, where trucks carry the finished product hundreds of miles along muddy roads to river ports, said Luiz Carlos Tremonte, who heads an influential wood industry association. Many Chinese purchasers now travel to Brazil to clinch deals, and are almost always accompanied at business meetings by friends or relatives of Chinese descent who live there.

“Ten years ago no one knew about China in Brazil; then the demand just exploded and they’re buying a lot,” Tremonte said. “This wood is great for floors, and they love it there.”

The Bovespa stock index in Brazil has climbed more than 300 percent since 2002, riding the China wave.

China is buying coal mining equipment from Poland and drilling for oil and gas in Ethiopia and Nigeria. It has poured hundreds of millions of dollars into Zambia’s copper industry. It is the world’s biggest market for mobile phones, headed for 520 million handsets this year. A lista continua.

Along with looking to other countries for goods for its people, China is also going far and wide in search of markets for its products.

In war-torn Liberia, where electricity is hard to come by, Chinese-made Tiger generators keep the local economy humming. Costlier Western brands, favored by aid agencies and diplomats, are beyond the reach of small business owners such as Mohammed Kiawu, 30, who runs a phone stall in the capital, Monrovia.

A used Tiger generator costs around $50, he said over the steady beat of his generator. “But even $250 is not enough to buy a used American or European generator. They are not meant for people like myself.”

The Chinese generators are more prone to break down, Kiawu said. When the starter cable snapped on one, he replaced it with twine. But by making items for ordinary people, he predicted, China “will take control of the heart of the common people of Africa soon.”

China is having to make up for decades of economic stagnation after the communist takeover in 1949.

When Chinese leader Deng Xiaoping began dabbling in economic reforms in 1978, farmers were scraping by. By 2005, income had increased sixfold after adjusting for inflation to $400 a year for those in the countryside and $1,275 for urban Chinese, according to China’s National Bureau of Statistics.

“The Chinese don’t want war — the Chinese just want to trade their way to power,” said David Zweig, a professor at the Hong Kong University of Science and Technology. “In the past, if a state wanted to expand, it had to take territory. You don’t need to grab colonies any more. You just need to have competitive goods to trade.”

If China stays on the same economic track, it would become the world’s largest economy in 2027, surpassing the United States, according to projections by Goldman, Sachs & Co., a Wall Street investment bank. And unlike Japan, which rose in the 1980s only to fade again, China still has a huge pool of workers to tap and an emerging middle class that is just starting to reach critical mass. Many development economists believe China still has 20 years of fairly high growth ahead.

But the transition to a larger presence on the global stage comes with growing pains, for China and the rest of the world.

As Beijing plays an ever bigger role in the developing world, some Western countries fear it could undermine efforts to promote democracy. In its attempt to secure markets and win allies, China is stepping up development aid to Africa and Asia. Chinese President Hu Jintao pledged last year to double Chinese aid to Africa between 2006 and 2009, promising $3 billion in loans, $2 billion in export credits and a $5 billion fund to encourage Chinese investment in Africa. China has also promised Cambodia a $600 million aid package and agreed to loan $500 million to the Philippines for a rail project.

But China also extends aid to states such as Myanmar, Zimbabwe and Sudan whose human rights records have lost them the support of the West. Actress Mia Farrow has labeled next year’s Beijing Olympics — a point of pride for China — the “genocide Olympics” because of China’s support for Sudan, at a time when the West seeks to punish it for its military actions in Darfur. China buys two-thirds of Sudan’s oil output.

“In some ways, it will be integrating us into a new international order in which democracy as we’ve known it or the right to open organized political activity is no longer considered the norm,” said James Mann, author of “The China Fantasy,” a book about China and the West.

China is also facing some of the unease that powers before it have encountered. In Africa and Asia, some complain that massive China-funded infrastructure projects involve mostly Chinese workers and companies, rather than create jobs and wealth for the local population. And Moeletsi Mbeki, a political commentator and brother of South African President Thabo Mbeki, likens the trade of African resources for Chinese manufactured goods to former colonial arrangements.

“This equation is not sustainable,” Mbeki said at a recent meeting of the African Development Bank in Shanghai. “Africa needs to preserve its natural resources to use in the future for its own industrialization.”

The backlash is also coming on the consumer front, with Chinese goods earning a dubious reputation for quality. In the United States, there is a furor over the standard of Chinese imports. In Bolivia, vendors peel off or paint over any indication that their wares were “Hecho en China,” Spanish for “Made in China.”

A woman selling bicycles in El Alto, a poor city outside the capital, La Paz, insisted they were made in Japan, South Korea, Taiwan or even India. With some prodding, she acknowledged the truth. “They’re all Chinese,” she said, declining to give her name lest it hurt her business. “But if I say they’re Chinese, they don’t sell.”

Even those who benefit from China’s growth express some wariness. Aerospace giant Boeing expects China to be the largest market for commercial air travel outside the United States in the next 20 years, buying more than $100 billion worth of commercial aircraft, U. S. trade envoy Karan Bhatia said in a recent speech.

“Right now, we’re hiring every week,” noted Connie Kelliher, a union leader. “Things couldn’t be better.”

Yet Boeing workers remain wary of China’s ambitions to build its own planes. next year China plans to test-fly a locally made midsize jet seating 78 to 85 passengers. It has also announced plans to roll out a 150-seat plane by 2020.

“It’s kind of a double-edged sword,” Kelliher said. “You want the business and we want to get the airplane sales to them, but there’s the real concern of giving away so much technology that they start building their own.”

That’s what happened to Western and Japanese automakers, which made inroads in the Chinese market only to see their designs copied and technologies stolen. Already, China’s vehicle manufacturers are venturing overseas, exporting 325,000 units last year — mostly low-priced trucks and buses to Asia, Africa and Latin America.

“We’re taking a bigger piece of the pie,” said Yamilet Guevara, a sales manager for Cinascar Automotriz, which has opened 20 showrooms in Venezuela in the past 18 months, offering cars from six Chinese makers. “They ask by name now. It’s no longer just the Chinese car. It’s the Tiggo, the QQ.”

China’s biggest car company, Chery Automobile Co., just announced a deal with the Chrysler Group to jointly produce and export cars to Western Europe and the United States within 2-1/2 years.

Given the speed of China’s ascent, it’s perhaps not surprising that China itself is trying to calm some of the fears. Its slogan for the Beijing Olympics: “Peacefully Rising China.”

Greenspan Says Euro Could Replace Dollar.

Former U. S. Federal Reserve chairman Alan Greenspan said it is possible that the euro could replace the U. S. dollar as the reserve currency of choice.

According to an advance copy of an interview to be published in Thursday’s edition of the German magazine Stern, Greenspan said that the dollar is still slightly ahead in its use as a reserve currency, but added that “it doesn’t have all that much of an advantage” não mais.

The euro has been soaring against the U. S. currency in recent weeks, hitting all-time high of $1.3927 last week as the dollar has fallen on turbulent market conditions stemming from the ongoing U. S. subprime crisis. The Fed meets this week and is expected to lower its benchmark interest rate from the current 5.25 percent.

Greenspan said that at the end of 2006, some 25 percent of all currency reserves held by central banks were held in euros, compared to 66 percent for the U. S. dollar.

In terms of being used as a payment for cross-border transactions, the euro is trailing the dollar only slightly with 39 percent to 43 percent.

Greenspan said the European Central Bank has become “a serious factor in the global economy.”

He said the increased usage of the euro as a reserve currency has led to a lowering of interest rates in the euro zone, which has “without any doubt contributed to the current economic growth.”

© 2007 Associated Press. Todos os direitos reservados.

By press time of the article above, the US Federal Reserve had not yet announced its intentions to cut benchmark rates by half a percentage point.

As of the time of this posting the rate stood at 4.75% bringing new surge in the markets around the world with the Dow Jones gaining over 300 points in one day … thanks a trillion.

Brainwave R Mumba, Sr.

Melbourne Herald Sun, Australia – 1 hour ago.

THE US central bank’s decision to slash interest rates for the first time in four years spurred the Australian stock market to its biggest one-day rise in a …

Aljazeera, Qatar – 8 horas atrás.

Asian stock markets have seen strong gains, following the first cut in US interest rates for four years. Shares on Wednesday were up by more than 3 per cent …

Reuters Canada, Canada – 3 horas atrás.

TORONTO (Reuters) & # 8211; Toronto’s main stock market index was seen opening higher on Wednesday as the US Federal Reserve’s bigger-than-expected interest rate …

Forbes, NY – 21 hours ago.

& # 8230; could give Nasdaq an extra-thick financial shield against the ambitions of Dubai as well as more investment in international stock markets for Qatar. & # 8230;

Earthtimes – 2 horas atrás.

The 30- stock Bombay Stock Exchange sensitive index (Sensex) rose 653.63 points or 4.2 percent to 16322.75 at close. All the components of the index were …

Reuters & # 8211; 11 minutes ago.

& # 8230; 5.5% gain in the stock . The feeling that the market is getting a bit overbought on a short-term basis could invite some afternoon selling interest. & # 8230;

Reuters & # 8211; 2 horas atrás.

COM] O mercado de ações começou a sessão em uma nota otimista como as boas vibrações da negociação de ontem continuam a ser sentidas. & # 8230;

Belfast Telegraph, United Kingdom – 8 horas atrás.

Stock markets across the world are continuing to rally amid signs that the global credit crunch is starting to ease. The rally follows a decision by the US …

Reuters & # 8211; 1 hour ago.

COM] Buying interest has calmed after the excited start that followed yesterday’s rate-cut rally and the huge gains in foreign markets overnight. & # 8230;

CNNMoney – 1 hour ago.

Global stock markets cheered Tuesday after the central bank cut the target for a key short-term interest rate. On Wall Street, the Dow Jones industrial …