By Nawa Mutumweno – The Zambian government is to spend about $2 million to host the 10th edition of the African Growth Opportunity Act (AGOA) Forum scheduled for Lusaka from June 6 – 8, 2011. This is the first time Zambia is hosting the forum which will attract about 2 000 delegates from America and the 37 AGOA-eligible countries to promote trade and investment between the continent and the USA. According to Ministry of Commerce, Trade & Industry senior economist Healey Mweemba, the AGOA initiative by the American government is key to enhancing trade, widely recognized as an important factor... Continue Reading
By Nawa Mutumweno – Zambia recorded $4 791.6 million ($4.7 billion) investment pledges in 2010 which is expected to create over 22 000 jobs when fully executed, according to the Bank of Zambia (BoZ). The central bank governor Caleb Fundanga told a press briefing on Friday, February 18, 2011 that last year investment pledges rose by 138% as compared to the $2 008.4 million recorded in 2009. “The pledges when fully executed are expected to generate 22 532 jobs with the highest contribution from services at 12 763 jobs followed by agro-processing at 5 860 jobs. The rest were manufacturing... Continue Reading
By Peterking Quaye, for shout-africa.com, from Accra, Ghana – UniBank-Ghana has re-launched its mobile banking service with enhanced security features as a part of a broad strategy to broadening access to financial services. uniBank-Ghana was among the first six banks in the country to introduce three main electronic banking products such as uniweb (internet banking), uni-alert (SMS alert for all transactions) and uni-Mobile, a mobile banking solution. Managing Director of uniBank, Mr Ammishaddai Owusu-Amoah, said the mobile payment solution was one of many initiatives by the bank to promote increase financial inclusion.”In this connection, this initiative of enabling banking services... Continue Reading
By Nawa Mutumweno – Bharti Airtel has invested about $700 million in the Europe India Gateway (EIG) cable system to enhance diversity and capacity between Europe and the sub continent. According to a statement issued by Michael Okwiri of Airtel Africa, the company has launched the EIG cable system, a 15 000 line with a capacity of 3.84 terabits per second. EIG stretches from Mumbai in India to London with landings enroute in the United Arab Emirates, Oman, Saudi Arabia, Djibouti, Egypt, Libya, Monaco & Marseilles, Gibraltar, Portugal and the United Kingdom. Apart from the segment of EIG in Egypt,... Continue Reading
By Nawa Mutumweno – A free trade agreement between the Southern African Development Community (SADC), the East African Community (EAC) and the Common Market for East and Southern Africa (COMESA) is on the cards, according to South African Trade and Industry minister Rob Davies. Briefing journalists in Cape Town on February 22, 2011, Davies said a summit between the three regional economic communities (RECS) would be hosted soon. A SADC conference held earlier in February to prepare for this summit has proved useful to provide groundwork for the free-trade agreement among the three trade blocs. “The signs are there that... Continue Reading
