February 12th, 2010

Africa's NEPAD homes in on investment, growth

JOHANNESBURG (Reuters) - African leaders must cast aside a tendency to "manage poverty" and instead pursue basic economic growth if they want to improve the lives of their people, a leading regional development expert said on Friday.
"It has to be radically different," said Ibrahim Mayaki, a former prime minister of Niger and now head of the New Partnership for Africa's Development (NEPAD), an African Union policy wing trying to foster cross-border economic links.

For more information read: http://af.reuters.com/article/topNews/idAFJOE61B09K20100212

Uganda sets tax for Heritage asset sale: source

KAMPALA (Reuters) - Uganda will levy a 30 percent capital gains tax on Heritage Oil's sale of its exploration assets in the country to Tullow Oil, a source at the Uganda Revenue Authority (URA) said on Friday.

Heritage signed a sales and purchase agreement with Tullow in January after the latter exercised its pre-emption rights over Heritage's sale of its half-share stake in the exploration areas 1 and 3A.

For more read: http://af.reuters.com/article/investingNews/idAFJOE61B0DR20100212

The international isolation of Madagasca’s DJ president continues

Madagascar's President A. Rajoalina

ANTANANARIVO (Reuters) - Madagascar's vice Prime Minister Ny Hasina Andriamanjato has resigned in a sign of growing divisions within the government over how to end the Indian Ocean island's year long political crisis.

Its diplomatically isolated leader, Andry Rajoelina, risks sanctions and the possible cancellation of critical foreign aid if he fails to compromise on a road map for holding elections that appeases opposition leaders, regional neighbours and donor nations.

For more details read: http://af.reuters.com/article/topNews/idAFJOE61B06420100212

UK, Ethiopia to head climate funding effort

LONDON (Reuters) - Britain and Ethiopia will head a new United Nations panel that aims to secure $100 billion every year by 2020 to help developing nations cut emissions and adapt to climate change, U.N. Secretary-General Ban Ki-moon said on Friday.

He told a news conference the group would work with governments, central bankers and finance experts to find ways to cooperate with public and private companies in raising money pledged at climate talks in Copenhagen in December.

For more read: http://af.reuters.com/article/topNews/idAFJOE61B0G420100212