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Rwanda: Ruling Party Has the Right to Summon Officials – SG Kigali — The Secretary General of the Rwanda Patriotic Front (RPF), François Ngarambe, yesterday said that the ruling party had the right to summon any public official to account for their mistakes. Ngarambe was referring to allegations by exiled former Ambassador to India, Gen. Kayumba Nyamwasa, who claimed to have fled because the RPF had interrogated him and wanted to force him to confess to crimes he never committed. “Why should he question my asking him to give a report to RPF on duties he was assigned to by the nation? His assignment as Rwanda’s Ambassador to India was political and not military,” Ngarambe told a press conference at his offices. “But you know, some people seeking refuge sometimes tend to concoct sensational reasons”. Ngarambe explained that by summoning Kayumba, he wasn’t interfering with the work of security and judicial organs, but that he only asked him to put into writing the mistakes he admitted to have committed. “It is the RPF that made Kayumba an Ambassador, it is the RPF that made it possible for him to become a General,” Ngarambe pointed out. He added that the RPF had been at the forefront of spurring this nation to prosperity, and was confident that the people were aware of the fact. The Secretary General revealed that it is the RPF Congress that would choose its candidate for the forthcoming Presidential elections set for August. “We will announce our candidate in May,” he said. UN In Talks With DR Congo On Withdrawal Of Peacekeeping Mission (RTTNews) – The United Nations held talks on Thursday with senior officials of the Democratic Republic of Congo about ending UN’s ongoing peacekeeping mission in the African country, according to officials and news reports. The discussions with DR Congo officials on the withdrawal of UN peacekeeping mission, known as the MONUC, were announced by Alain Le Roy, the UN under secretary-general, following a meeting with the Congolese president Joseph Kabila. UN peacekeepers were sent to DR Congo in 1999 as a part of international efforts to end the 1999-2002 war that had dragged in six other countries and left over four million people dead, and establish peace in the region. It was the largest of its kind in the world, with about 16,500 troops and 3,000 civilian staff. Though the war in Congo ended in 2002, the situation in eastern and northern parts of the country still remains highly volatile, mostly because of the presence of Rwandan and Ugandan rebels there. Media reports quoted Le Roy as saying on Thursday that the UN team would take at least a month to assess how to begin pulling out its troops from DR Congo as the mandate of the mission expires in May this year. Though the UN official admitted that the peacekeeping mission would be ready for withdrawal from central and south-east Congo by June, Le Roy expressed reservations about withdrawing the UN force from the eastern and northern regions of the country. The Congolese security forces are currently engaged in separate offensives against Democratic Forces for the Liberation of Rwanda (FDLR) rebels in the east and the Uganda-based Lord’s Resistance Army (LRA) in the north. Presently, the United Nations mission in DR Congo is backing an army offensive against the FDLR rebels in the east by providing rations and fuel to the army troops, helping in planning operations and evacuating injured Congolese soldiers by UN helicopters. The presence of some 6,000-strong FDLR rebels along Congo’s eastern border with Rwanda have been the central point in the years of unrest in the region. The Hutu FDLR rebels fled Rwanda to Congo after taking active part in the 1994 Rwandan genocide in which over 800,000 minority Tutsis and moderate Hutus were slaughtered in a period of 100 days. In addition to the Rwandan Hutu rebels in the east, the Congolese military is also engaged in a separate offensive against the Ugandan LRA rebels north of the country. The 21-year old LRA insurgency in the region comprising northern Uganda, eastern Congo and southern Sudan began in 1988. The LRA is considered to be one of the most brutal rebel forces in the world, and is accused of using children as soldiers and sex slaves. The insurgency movement is estimated to have killed at least 1,800 civilians between September 2008 and June 2009, and displaced more than 2 million people in the region since it began over two decades ago. Currently, LRA chief Joseph Kony is believed to be in hiding with his fighters in northeastern Congo. Although Kony and several of his commanders have been indicted for various war crimes by the International Criminal Court in The Hague, the LRA rebels say that they will not disarm until the ICC warrants are lifted. by RTT Staff Writer For comments and feedback: contact editorial@rttnews.com Recent Two-Week Trip to Chad, Sudan, Qatar and Rwanda MR. TONER: Good afternoon. It’s my great pleasure to introduce to you our Special Envoy to Sudan Scott Gration, who is going to brief on his trip to Chad, Khartoum and the Nuba Mountains in Sudan, Doha, Qatar, and Rwanda. And without further ado, I’ll hand it over to him. MR. GRATION: Thank you. Well, good afternoon. QUESTION: Hello. MR. GRATION: I did just return from a two-week trip to Chad, Sudan, Qatar, and Rwanda. The trip focused on pushing the Darfur peace process toward a solution and toward resolving the remaining CPA issues. My talks in N’Djamena with President Deby and other senior Chadian officials focused a lot on the recent Chad-Sudan agreement and on normalization of relations between these two countries. These steps will absolutely be critical in resolving the Darfur conflict. I continued working on the Darfur peace process as I went to Sudan and to Qatar. In Doha, I was there when the Justice and Equality Movement and the Government of Sudan signed that landmark framework agreement and the ceasefire. We were actively engaged in that whole time that I was in Doha, sometimes late into the night with the Government of Sudan, the JEM, and with other armed movements in trying to get an inclusive process, one that would result in a comprehensive peace framework. The framework that was signed between JEM and the Government of Sudan offers us an important opportunity to significantly reduce violence in Darfur. But it must include the other rebel groups to be all-inclusive. The United States has worked tirelessly with all the parties and with the international partners to facilitate the negotiations, to find the common ground between the rebel groups, and to speed this process toward an early agreement that can be implemented on the ground. The United States supports a peace process that is inclusive, that is comprehensive. And we believe that the newly formed Liberation and Justice Movement, which represents most of the non-JEM rebels, must have a clear voice in the Doha negotiations. The Darfuri civil society, the IDPs, the diaspora, and the refugees must also have a voice in this process. We wrapped up discussions on Darfur in Kigali. It was here where the six envoys from the P-5 countries plus the EU met for frank discussions with UN’s top leadership from Sudan. In Kigali, we had an excellent opportunity to focus the international partners and UNAMID on their core mandate, which is to provide security and to protect the civilians in Darfur. While the agreements that are being negotiated in Doha are critical to achieving a lasting peace, the problems of banditry and lawlessness must be dealt with quickly if the people of Darfur are to see real improvement in their local security environment. Although much of my trip concentrated on the developments of the Darfur peace process, I want to highlight today some of the positive progress that is being made on the CPA implementation. While in Sudan, I was able to travel to Juba, to Khartoum, and to the Nuba Mountains. And I spent a lot of time discussing the CPA issues with the NCP and with our friends in the south. We also had numerous meetings on the elections to make sure that we had an understanding of how they were progressing, and I’ll be able to answer questions on those things in a minute. Concerning the CPA, I want to congratulate the SPLM and the NCP for reaching agreements on resolving the census dispute. This was a big deal. We also saw great progress being made on the North-South border demarcation and on formally agreeing to enter discussions on the post-2011 arrangements. As you know, the national elections are scheduled for next month, and significant preparations have been made to ensure that the elections will really reflect the will of the people. But we remain concerned about some of the logistical challenges that must be resolved in the very near future. I continue to urge authorities at all levels to make sure that every eligible Sudanese that has met the qualifications to vote has the right and the access to vote in this political process. Basic rights, freedoms of speech, of assembly, freedom of the press must be respected, and we’re going to work to ensure that that’s the case. There’s a lot of work that must be done before April, but we’re working with all the parties and with all of our partners to make sure it gets done. I’ll be leaving again this weekend to travel to Nairobi and Paris and Doha. In Nairobi, I’ll be attending the IGAD summit on the CPA implementation. Then I’ll head to Paris where I’ll meet with French officials to discuss how we can work together to ensure success of the Chad-Sudan agreement, and to build on the ongoing peace process in Doha. I will then return to Doha to again help push those negotiations to fruition and a final agreement and to support the process to ensure that it is inclusive and comprehensive, and that it really does meet the needs and the requirements and the issues of the Darfuri people. It’s a crucial time for Darfur and for Sudan in general. We must not let this opportunity to promote Sudan-wide political transformation, to improve the overall security, to facilitate a lasting peace pass us by. We will not rest until we’ve done everything we can to secure a brighter future for the next generation of Sudanese. Failure in this case is not an option, and we’ll strive for success. I’m ready for your questions. Thank you. QUESTION: There are reports of resurging – a resurgence in violence. Do you think the elections – crystal balling I suppose – or do you think that violence can put the elections off track, or is it sort of a rock of expectation? MR. GRATION: That is a concern that we all have. As you know, that there has been a history of violence and inter-tribal and inter-communal tensions, and we are doing our best to make sure that to the maximum extent, that this – these conflicts are mitigated and that they don’t interfere with the election process. We’ve talked with the Ministry of Interior and we’ve talked with the National Elections Commission and they have a plan to increase security using both security forces from the police and other forces to ensure that people can get to the polls, and that the polls are not interrupted by (inaudible) or mischief. We will have monitors in place they come from the Carter Center, they come from the EU, the AU, and even internally to ensure that we can, to the maximum extent, (inaudible) to get ahead of these issues and bring the proper attention to areas where polling may be disrupted by violence, conflict, and insecurity. QUESTION: Sure, the – as I’m sure you’re aware, there’s been some concern among some of the advocacy groups on Darfur about some of the stances that – some of the ways that the diplomacy has been pursued. On a more general point, I mean, how do you feel about how we should deal with the government in Khartoum in terms of whether to give incentives based on what’s going on in Darfur? How do you feel about the balance between incentives and pressure in a broad sense? MR. GRATION: Well, certainly, it’s the responsibility of the government to provide security, to bring development to its people, to ensure that the Millennium Development Goals are turned into reality, that people have water, that they have food security, that they have gender equality and transportation, communications, and those issues. So certainly, we are going to be working and using pressures and incentives to make sure this takes place. As you know, the agreements that will be reached in Doha will probably decrease the number of people going into camps. In other words Gender-based violence still continues; that must stop. People’s possessions are taken. They don’t have their rights – human rights, in many cases. This has to be changed. And that’s what we’re trying to do now is to put into place systems of order, patterns of order, rule of law. We’re trying to increase the capacity of UNAMID, the UN/UA forces that are there. And we’re trying to set up programs that will allow the conditions that the people live in to be made better so that their future is brighter. Yeah. QUESTION: Could you talk – the agreement so far has been signed with the JEM, is that correct? MR. GRATION: That’s correct. QUESTION: Right. What are the concrete obstacles to bringing in some of the other rebel groups to the peace agreement? Is it things that they want that the government’s not offering? Is it vice versa or simply just logistical? MR. GRATION: No, so far it’s been two things that have stopped the progress. First of all, this was a framework agreement, the details of which are to be negotiated in Doha through the process that is run by the AU/UN negotiator Djibril Bassolé and facilitated by the Government of Qatar. There are two issues that are hampering progress right now. The first is JEM wants to be exclusive; they either want to have everybody together under their leadership before they start, or they don’t want the rebels to have a two-track or a parallel-track program. And I’m talking about the other rebels. The other rebels I’m referring to were rebels that were brought together in a unification effort in Addis Ababa and some effort – and some that were brought together through the efforts in Libya. All those rebels are now in Doha, or many of them are. And the second issue, besides JEM’s desire to be exclusive, is that the rebel groups themselves are having a little bit of difficulty in choosing a leader and in organizing themselves. So we’re in – that’s much of what I was doing there, trying to reach common ground, trying to bring the rebels together in a way so that they can represent their people and they can represent their causes with a single voice and be strong. At some point, we’re going also have to bring in the views of the diaspora, the views of the civil societies, of the IDPs into this process, especially as we start talking about things like land reform and compensation and wealth sharing. So the ceasefire can happen with the rebels, and that’s the first agenda. And then things like power sharing can be done. But at some point, as we expand, we’re going to have to expand and be more inclusive to people outside of Doha also. QUESTION: Sorry, I just – if I could follow that up. You said, on the one hand, that JEM wants to be the exclusive representative of all the rebels. And then you said the non-JEM groups are having trouble finding their own representative, which suggests that there be two people negotiating with the government. MR. GRATION: You hit it. You hit it. QUESTION: So is it one or two? And if all the other non-JEM guys are trying to find one, and JEM says we want to be the only one, I mean, that seems a fairly insoluble – MR. GRATION: No, you’ve hit the problem. QUESTION: Right. MR. GRATION: But there are several solutions. Obviously, the best solution is if everybody could come under the leadership of one individual, whether it’s Khalil Ibrahim, whether it’s Tijani Sesei or whoever it is, that would be the best thing because than you would have a single voice representing everybody. There’s a second option where you could have two tracks that are running in parallel, where the same issues are being discussed with the JEM and are being discussed with the other group. And as they reach agreement and common ground, the facilitators and negotiators can go back and forth and actually come up with an agreement that’s put together in a parallel track, but essentially the agreement is one. The other way you can do this is do it sequentially, where the JEM gets their big issues resolved, things like the ceasefire, finalization of prisoner release, and those issues that are unique to them. And then the other groups get their issues resolved, and then you somehow put that all together into a framework agreement and then – but the reality is that allows you to move forward with a peace deal in Darfur. But it’s really not going to be a final peace deal until compensation is sorted out, until the power-sharing deals are worked out. Because as you probably know, many of the rebel groups, because they had an active militia, were not allowed to participate in the election process, and therefore they are not represented in this election. There will probably have to be some way, whether the constitution is changed and seats are added in the interim period, whether there’s an interim election – there’s a lot of things that we can put into play or that, I should say, the negotiators can put into play that will allow people to be represented in this interim period in Darfur. These are issues that will be worked out. And then the last issue is, of course, that no lasting peace and durable peace will be complete until there’s an accommodation of justice and accountability, and those issues will also have to be included in the final arrangement. A question in the back, sir. QUESTION: Yes. Who will represent the U.S. at the donors conference for Darfur this month in Egypt? MR. GRATION: We’re still working out the details. There will be representation, whether it comes from USAID, or whether it comes from our office or whether it comes from another office. Those details are still being worked out. But as you know, we only just recently had – got the invitation and we do know that our representative, the U.S. representative to the OIC will be there. And the question is now what kind of technical support team will be put together to ensure that there’s adequate support. QUESTION: And do you expect the U.S. to contribute additional money for this – at this conference? MR. GRATION: It would be difficult for me to speculate right now because we just have started this process and we’ve just got the invitation. QUESTION: Thank you. MR. GRATION: Yes, sir. QUESTION: Senator Feingold, as you know, has been active on the subject — MR. GRATION: Yes, sir. QUESTION: — and with 21 co-sponsors, I believe. The Senate has asked for enlarging international representation in this effort. Could you use some help from some other countries – well, not you particularly? But I mean, would that embellish opportunities for solving this problem? MR. GRATION: Well, let me just give you some background. First of all, we totally agree that this problem is so big and so complex and so far-reaching that not only the parties have to be involved, but the region has to be involved, the Africa Union and all of Africa, and then the international partners have to be involved. So we totally agree with Senator Feingold. We totally agree with his analysis. And let me tell you some of the things that we’re doing already as we build this coalition. We h ave put together a group of envoys from the P-5. We call ourselves the E-6, because France, UK, China, Russia, the United States, and the European Union have special representatives, and we get together. In fact, we were together at Kigali, all of us, to discuss the issues having to do with Darfur and CPA implementation. We meet regularly and we also have video teleconferences and telephone. In addition to that, as you know, the troika — the U.S., Norway, and UK – were very influential in the birthing of the CPA. We’ve reinvigorated that process. And the troika meets regularly. We have a group called the Contact Group and – that works on financial issues and other issues, primarily in Europe, and that group, again, meets regularly at the staff level. As I said, I’m going to participate in IGAD, where the presidents and senior leaders from Ethiopia, Uganda, Kenya, and other IGAD countries are coming together, and we participate with them. This problem is not something that’s America’s problem. It’s something that the globe has to work on: the North-South issue, the CPA implementation, the general security issue, and certainly, Darfur. Development’s going to be a key factor and we need security and development to go hand in hand. And this has to be an integrated not only within the U.S., but also with the partners of the region and the international community. We certainly agree with that and we’ll support that. Yes, sir. QUESTION: In your travels – I may have missed it – but I don’t think I recall hearing China mentioned. Can you discuss China’s role, how actively they’re engaged to help or not to help? And just bring us up to date on that aspect of the current situation. MR. GRATION: Sure. I have made a trip to Beijing and have discussed these issues at very high levels within the Government of China. And when the Chinese delegation came over here to meet with the Secretary of State, Secretary Clinton invited me to join in on the segments that had to do with Sudan. So we’ve been involved at the government-to-government level. I will also say that Ambassador Liu Guijin, who is the special representative of China to Sudan, and I have a relationship that goes back when he was in the Embassy, China Embassy in Kenya, and I was flying with the Kenya Air Force, so we’ve known each other for awhile. And we – he was at Kigali with me this last week, and we continue to have a relationship. Let me just say this: that while we have differences at the tactical level, and certainly we have differences in terms of supporting the military aspects of the NCP, there is a strategic commonality in that China needs security and stability for its investments, the same security and stability that we need for our humanitarian goals and to ensure that the South is able to transition, should they choose that, in a way that’s not violent. So we share common objectives in the region and we’re working hard to ensure that we’re working together in terms of development, humanitarian assistance and those kinds of things, that our plans are integrated, and that we’re working together. And certainly on areas where we have differences, we continue to discuss this in an open and frank way. QUESTION: You talk about the settlement requiring justice in the final analysis. I assume that also includes the dispensation of Bashir in the international courts. So where do you come down on that – on that particular case? MR. GRATION: Well, certainly we believe that that issue is going to have to be resolved if we’re going to have a lasting and durable peace. And so we support efforts to ensure that President Bashir answers the questions that the ICC has posed, and we support the process continuing as it’s outlined in the international system. And that’s – we’ll have to see where that one goes. But certainly, there is no hesitancy on our part to support those. QUESTION: If I could — QUESTION: I’m sorry. Go ahead. QUESTION: Just you’re mentioning the talks about the CPA, how do you draw a balance between assessing the North-South issues and the Darfur issue? Do you get a sense that one needs to take precedence over the other? MR. GRATION: Certainly in terms of importance, ensuring that the South has an opportunity to express its will through the referendum is very important. At the same time, there’s an urgency of making sure that the conditions in Darfur are reversed – that people can have a brighter future, that they can have the opportunity to return or to stay in an urbanized environment. These things have to be worked at the same time. And we don’t have the luxury of doing one and maybe the other. They have to be integrated, not only because we’re running out of time but the two actually are integrated in many ways. There’s a common border between Darfur and the South. And obviously, being able to come to a solution in the North, I believe will make things a lot easier in coming up to an accommodation with the South, especially on border issues, on sharing of wealth, and grazing and water and oil accommodation. All these issues have to be worked, and I believe they have to be worked in concert. And that’s why our strategy is one that’s comprehensive and it’s one that’s integrated and one that has a sense of urgency because the clocks are ticking. QUESTION: Thank you. MR. GRATION: Okay, thank you very much. UGANDA
Rains, Mudslides Displace Thousands in Eastern Uganda www1.voanews.com/Howard Lesser/ 05 March 2010 Some of the worst rains and flooding in recent years to strike eastern Uganda have triggered a massive landslide that has left thousands of people homeless. Devastating mudslides from Mount Elgon near the Uganda-Kenya border engulfed three villages in the Bududa district, 275 kilometers from the capital, Kampala. The flows spurred a quick response from government officials, who sent army engineers to the inundated region, and from the United Nations, which has supplied emergency tents and plastic sheeting. But impassible roads have stymied the rescue effort. At least 87 bodies have been recovered, with some 300 people, including 100 students, still missing. U.N. High Commissioner for Refugees (UNHCR) spokesperson Fatoumata Lejeune-Kaba says that until impaired gateways to the region become more accessible, the human toll will not be clear. “In the district of Bududa, there are three villages that are completely under the mud. People have not been accounted for yet. The government is still carrying out assessment missions to find out how many they could possibly rescue, how many are missing, and how many are dead,” she advised. Lejeune-Kaba says that the U.N.’s emergency relief role is a limited one that stems from its presence already in the region and its stockpile of usable supplies. “Our involvement is purely on humanitarian grounds. We are already in Uganda. We have been helping refugees. We have been helping sometimes the internally displaced. And because this is an emergency, because we have stocks available, that is why we are getting involved. But this is not an area where UNHCR is normally active,” said Lejeune-Kaba. Usual precipitation levels in January and February are quite low in Uganda in between customary rainy seasons. But this year, the El Nino cyclical weather phenomenon, that generates warm fronts from overheating ocean currents in the South Pacific halfway around the globe, also is fomenting relentless rains in eastern Uganda and locations in Kenya and Ethiopia. UNHCR spokesperson Lejeune-Kaba says Kampala officials are quite vigilant in responding to the daunting pressures posed by the turbulence. “The government was pretty quick in going to the affected areas. They can’t get heavy machinery in there to try, maybe, to rescue survivors. The rains are continuing. They are expected to last at least for another month. And so that compounds all the suffering, already being experienced by the population, who have lost all their properties. They have lost everything, probably family members as well,” she said. The previous devastating floods to hit eastern Uganda two and a half years ago in September, 2007, uprooted 200,000 people and were also said to be a product of an El Nino cycle. Uganda warned over corruption KAMPALA, Mar 5 – Uganda’s donors have threatened to withdraw or cut back their assistance to the east Africa country unless it reins in on corruption, according to a document seen by AFP Thursday. World Bank country manager Kundhavi Kadiresan, in a speech to diplomats and government officials last week, said there was “an undeniable lack of government action to follow up on cases of grand corruption”. “The government’s failure to act on high-level corruption will have implications,” Kadiresan said. “This may include withholding disbursements, reductions in aid or reprogramming away from direct budget support.” Kadiresan is the head of the Local Development Partners Group which includes the United States, Britain, United Nations, Japan, France and several other European nations. The World Bank official said corruption was “endemic” in Uganda and cited as an example the disappearance of 27 million dollars (nearly 20 million euros) during Kampala’s hosting of the 2007 Commonwealth Heads of Government Meeting. Senior ruling party officials have been implicated in the scandal during an ongoing parliamentary inquiry, but there have been no criminal investigations so far. She estimated that Uganda loses as much as 100 million dollars each year in shoddy procurement contracts. Donor nations provide approximately 35 percent of Uganda’s annual national budget and the country’s education and health budgets are almost entirely donor funded. 92 bodies found, 320 still missing in Uganda’s landslide March 05, 2010/english.people.com.cn/By Samuel Egadu The Ugandan government on Thursday said the death toll of the landslide in a hilly area in eastern part of the country has risen to 92 as rescue operation entered the third day. David Wakikona, Uganda’s state minister for northern Uganda and MP for the disaster-hit area told reporters here that over 320 people are still missing and feared dead in Bududa district after the landslide covering an area of 200 meters came down and swept away three villages. Only 84 survivors have so far been accounted for, he said. “On Wednesday, we buried the first 77 bodies. Late last evening (Wednesday) another 15 bodies were recovered by the military,” said Wakikona. “We have failed to trace 320 people still missing. As we speak, there is no hope for more survivors,” he said. The landslide following torrential rains on Monday night engulfed Nametsi, Kubehwo and Namangasa villages, Bukalasi sub- county, Bududa district. Wakikona said the government is looking for land in Kayunga district in eastern Uganda and Nakapiripirit district in the northeast to relocate the 10,000 residents in danger of landslide. “We don’t want to lose more lives as we expect rains to continue up to May,” he said, noting that those who were reluctant to leave their homes would face compulsory relocation. “Even if the residents say their ancestral parents were born and buried there. We shall apply safety force to relocate them to save lives,” he said. Ugandan President Yoweri Museveni on Wednesday visited the landslide sites and ordered for the relocation of the residents in risky areas. The minister revealed that there are already signs that another landslide is likely to occur as the mountain has developed several cracks. The government has opened three emergency relocation centers in Bududa district as landslide may affect several neighboring districts in the mountainous region. Six other districts in eastern and western Uganda are currently affected by floods. Jannifer Namuyangu, Uganda’s state minister for water told reporters on Thursday that there is a likelihood of near normal to above normal rainfall over most parts of western, central, eastern Uganda and Lake Victoria basin between March and May. “There are high chances that flooding will once again occur in flood prone areas of central, eastern and western Uganda. The landslides are likely to occur in mountainous regions of western, southern and eastern Uganda with strong gusty winds, hailstorms and lightening,” she said. Experts have warned that global climate change has been changing the rainfall pattern in the East African country from regular and moderate to more unexpected and extreme, raising risks of natural disasters like floods, landslides and prolonged draught. Source: Xinhua TANZANIA:
Govt eyes BP takeover The minister for Energy and Minerals, Mr William Ngeleja, told The Citizen exclusively yesterday that they were waiting for offer from their partner before making firm decision. We have been formally informed by our partner of his intention to shade of his 50 percent of the stake in the company, Mr Ngeleja told this paper. The major oil marketing company that has operated in the country for about a century has decided to pull out of Tanzania and several other African countries for business reasons. BP Africa s Chief Executive Sipho Maseko announced on Tuesday that decision to quit the Tanzanian market followed a strategy review that would see the company concentrate all its efforts in strategic countries such as Angola, Mozambique, South Africa, Algeria, Egypt and Libya. Except South Africa, the rest are oil and/or gas producing countries. BP has also ceased operations in Namibia, Malawi, Zambia and Botswana. Except South Africa, the rest are oil and/or gas producing countries. BP has also ceased operations in Namibia, Malawi, Zambia and Botswana. Mr Ngeleja said yesterday that buying the BP Africa stake would be one of Government options depending on the offer. He also said that even if BP find another strategic investor, he (new investor) could not buy the shares without government approval. No new investor will come aboard without our (Government) approval. This is according to the partnership deal that we have sealed, he said. But Mr Ngeleja said that the decision by BP Africa to sale part of its stake in the venture would not affect the activities of the company as speculated by some people. BP Africa has communicated with the government on their intention to sale its shares aim to sell its shares but this does not mean that the business will be closed down as it has been speculated, the Minister said. He assured BP Tanzania limited customers of continued quality services from the company even as one of the partners is pulling out. He said in their letter to Government BP officials have said the company has no capacity to meet the high demand in South Africa while serving in Tanzania and several other African countries. So they opted to sale their shares here and concentrate in a market when they think there is great potential for them to grow, said Mr Ngeleja. And Mr Maseko appeared upbeat on the company activities and commitment despite the move. I would like to stress that BP is and will stay committed to Africa, he said in a statement released on Tuesday. We have significant operations in Angola, Mozambique and South Africa and in Algeria, Egypt and Libya. We will continue to grow and invest in those markets, especially in the value chain infrastructure, he had added. Mr Ngeleja s assurance notwithstanding, the decision is likely to affect Tanzania s petroleum marketing industry as the company has often played a significant and pioneering role. But to what extent that effect will play itself out cannot be established at this moment. Until recently, BP Tanzania has had a 35 per cent market share in both the retail and service stations and about 70 per cent in aviation. In Zanzibar it has been controlling the aviation fuel market by about 100 per cent. BP Tanzania is among some 40 oil marketing and trading companies in Tanzania with Addax, Mobil, Total, Oryx, Engen, GAPCO, GAPOIL and Oilcom Tanzania Limited being the market leaders. In the seven southern African countries of Namibia, Botswana, Mozambique, South Africa, Tanzania, Malawi and Zambia, BP s downstream infrastructure includes some 29 depots and terminals, and more than 800 retail sites. Apart from fuel and lubricants, BP Tanzania has also been selling liquefied petroleum gas (LPG) for over forty years. It used to monopolise the market until the entry of Agip after the construction of a refinery, Tipper, in 1964. To date BP and Agip Tanzania Limited (which has since been sold to ADDAX and operates as Oryx Tanzania Limited) are the leading players. BP Tanzania has also an organisation that deals in solar energy under a project that covers upcountry regions. BP has also had a large stake in the transit petroleum business through the port of Dar es Salaam to Uganda, Rwanda, Burundi, DRC Congo, Zambia and Malawi. BP Tanzania traces its roots back in 1900 when Smith MacKenzie started importing kerosene to the island of Zanzibar as Shell agent A bulk tank and kerosene-can filling plant was established in 1901, and for a while Zanzibar supplied oil to much of the east coast of Africa and the Indian Ocean islands. Shell expanded to the Mainland and with the formation of the Consolidated Petroleum Corporation in the late 1920s, BP acquired an interest in the company. In 1970 the Government of Tanzania bought a 50 per cent interest in what was then Shell and BP Tanzania Limited. In March 1982, BP bought out Shell s interests and the company became BP Tanzania Limited. CONGO RDC :
Congo-Kinshasa: Former UPC Man Testifies In Lubanga Trial A witness who said he fought with the Union of Congolese Patriots (UPC) today started giving evidence in the trial of Thomas Lubanga at the International Criminal Court (ICC). The ICC alleges that Lubanga headed the UPC, a group that used child soldiers in inter-ethnic conflict during 2002 and 2003. The witness, the sixth called by the defense, mostly testified in closed session and had protective measures such as face and voice distortion to protect his identity. During the few moments when his testimony was in public session, he was questioned by defense counsel Jean-Marie Biju-Duval about the time he spent with UPC, and also about his brother. It was not possible to know how the brother to the witness was connected to the trial, or to the UPC. Equally, from the small bits of evidence given by the witness in open session, it was not possible to get an idea of what the gist of his testimony was. The witness said he was in the UPC until 2003. He deserted the group when the Ugandan army clashed with UPC’s fighters in the town of Bunia in the Democratic Republic of Congo (DRC). He went to the town of Mongwalu and joined the Peoples’ Armed Forces of Congo (FAPC), a militia group in that area. The witness said he served with the FAPC for a year. Biju-Duval asked the witness whether during his time with FAPC he maintained contact with his mother, brothers and sisters. The witness responded that he had indeed maintained contact with them. Biju-Duval then asked that court goes into closed session for the witness to provide details about those contacts. Earlier, the witness said his brother about whom he was questioned at length at one time fled to Uganda, but then he returned to Congo and stayed in Kasenyi and in Bunia. He said his brother went back to school when he returned to Congo. “We did not meet all the time but he would come to my home to fetch some money in order to pay for his school fees,” the witness said of his brother. The witness is expected to continue giving evidence tomorrow, and then the seventh defense witness will appear. Lubanga’s defense team has indicated that its first 16 witnesses will show that intermediaries of the ICC concocted evidence and coached prosecution witnesses . Meanwhile, judges today granted the prosecution’s request to meet a defense witness who is expected to begin testifying this Friday. The meeting is anticipated to take place a day before the witness takes the witness stand. The defense had opposed the application, arguing that the meeting would present an additional stress to the witness on the eve of his giving testimony in court. But the prosecution’s Nicole Samson said they wished to ask the witness about some additional aspects of his likely testimony which the defense had only recently provided to the prosecution. While granting the prosecution’s application, Judge Adrian Fulford warned prosecutors against making similar applications when witnesses are about to appear in court. “We will look at each of them very carefully on their merits and it will need new information of the kind indicated for us to give serious consideration to an application of this kind because it could be very stressful for the witness,” said the judge. 8th annual ‘Vagina Monologues’ debuts in Edwards 3/5/10 – Last night, students filled the University of Rhode Island’s Edwards Hall auditorium for the university’s eighth annual installment of “The Vagina Monologues.” Skits ranged from comedic ones such as “The Little Coochi Snorcher That Could” to the more serious “A Teenage Girl’s Guide to Surviving Sex Slavery.” With a blend of merriment and sincerity, the “The Vagina Monologues” stresses the moral issues of abuse and violence against women in all stages of life, Director Linzi Rae Matta said. “It’s a mind-opening experience that gives students the chance to see an entirely different side to life as they would normally see it,” Rae Matta said. “I think ‘The Vagina Monologues’ definitely increased awareness on the issues of women abuse.” Students that played the parts of women talking about their vaginas came from all academic backgrounds. According to Violence Prevention and Advocacy Coordinator Keith Labelle, students that aided in the event included athletes, men and women. Despite their “great” acting abilities, Rae Matta added that the actors are typically not theater majors; they are simply cast by the director after tryouts. URI alumna Katrina Josephson said the actors delivered their skits with all the emotions necessary to produce both laughter and solemnity. She said that many of the risky skits, which all related back to the vagina, made her feel uncomfortable, but added that it seemed essential in conveying the theme of women being more comfortable with themselves. “[‘The Vagina Monologues’] welcomed the audience with comedy and left them with a more serious issue to think about,” Josephson said. “The Vagina Monologues,” began in 1996 when Eve Ensler wrote a play based on her firsthand experience of the violence perpetrated against women in the Democratic Republic of Congo (DRC). Rae Matta said that this prompted Ensler to initiate the launch of a public education and action campaign aimed at raising the awareness of sexual violence of women in the DRC.
Skits such as “They Beat The Girl Out of My Boy…Or So They Tried,” conveyed the troubles men-women transsexuals face on a daily basis. In the skit, they said that people often abuse men transgenders in hopes of conforming them to the societal norm. “They don’t like the ambiguity associated with dating a transsexual,” the actors said. In another skit titled “Hair,” Ashley Qvarnstrom conveyed the deeper meaning of sensuality, sensitivity and preference in a relationship. According to the skit, men often want and tend to force a woman to present themselves in a certain way, and in this ,case shaving their vaginas. Other stories revolved around female mutilation, femicide, rape and insensitivity toward women, Rae Matta. All of the proceeds raised at the event will go directly toward the Violence Prevention and Advocacy Services at URI, according to Violence Prevention and Advocacy Services Director Jenn Longa Moio. “Peer advocates at URI are trained with this money,” Longa Moio said. “These advocates increase awareness of sexual assault, stalking, and even alcohol abuse on campus.” She added that the approximate $4,000 raised last night will also go toward therapy, conference and counseling services aimed to help victims of sexual assault on campus. KENYA :
Total Kenya’s Annual Net Falls 31% on Lower Margins (Update1) (Adds outlook in third paragraph.) March 5 (Bloomberg) — Total Kenya Ltd., the local unit of Total SA, said annual profits fell 31 percent because of lower margins and higher fixed and financing costs. Net income for the 12 months to Dec. 31 declined to 482.6 million shillings ($6.3 million), or 1.62 shillings a share, from 703.9 million shillings, or 4.20 shillings a share, a year earlier, the company said in a statement in the Daily Nation today. Sales fell 25 percent to 41.3 billion shillings. Earnings this year depend on the rate of global economic recovery, world crude prices, and efforts by Kenya to overcome supply constraints in the oil industry, the company said. Total Kenya’s assets more than doubled last year to 31.5 billion shillings following the acquisition of Chevron Kenya Ltd., which has since been renamed Total Marketing Kenya Ltd. –Editors: Alastair Reed, Vernon Wessels. Safari tourists rescued by helicopter from Kenya flood Two Britons were among dozens of tourists on a luxury Kenyan safari holiday to be airlifted to safety after their camp was hit by flash flooding. Campers staying at the popular Samburu National Park in the north of the country were forced to clamber up trees or onto roofs as 4x4s were swept away. The Royal Air Force and UK army, who train in the area, joined the rescue. Hours of torrential rain caused the Uaso Nyiro River to burst its banks, submerging luxury lodges. The floods also destroyed an important elephant research centre. Destruction Safari tour guide Steve Lekango said at least 17 tourists, including Britons, Germans and Americans, were rescued by helicopter after bridges were destroyed by the deluge. “At the moment every one of the guests in our camp is OK,” he said. “It was very, very bad from 6am to 8.30am – there was a lot of destruction. “Bridges were taken down so three helicopters were called to take guests away. “Most of the guests were forced to climb trees while they waited,” he added. The affected area is not far from where the British military carries out regular training exercises. The banks of the Uaso Nyiro River are a hotspot for tourists making trips to see elephant, buffalo, zebra, giraffe and antelope, which drink from the river. The BBC’s Will Ross, in the Kenyan town of Nanyuki, said that just a few months ago the country was suffering from one of its worst droughts in decades. Some argued these extremes of weather were a sign this region was suffering the effects of climate change, our correspondent added. ANGOLA :
Angola state oil company: profits of $2.4 billion The Associated Press/ March 5, 2010 Angola’s state oil company, Sonangol, is reporting a net profit of $2.4 billion from operations last year. The company’s chair of the board of directors, Manuel Vicente, made the announcement at a press conference in Luanda on Wednesday. “Despite the international financial and economic crisis, its impacts and effects on operational and financial activity, Sonangol maintains its financial strength based on the profits, which are more than two billion dollars,” Vicente said. Sonangol had an output of 684,000 barrels per day, and last year surpassed Congo as sub-Saharan Africa’s main oil producer. Congo’s oil production has been crippled by an armed insurgency in the country’s oil-rich Niger Delta. SOUTH AFRICA:
Jacob Zuma praises UK-South Africa ties at City banquet South African president Jacob Zuma has spoken of his country’s long economic and cultural links to the UK in an address to business leaders. The president and his wife were guests at a dinner hosted by the Lord Mayor of the City of London at the Guildhall. Earlier, President Zuma had sought to ease the security fears of England football fans travelling to the World Cup during a visit to Wembley Stadium. He visits Prince Charles before his three-day state visit ends on Friday. The president has also held talks at Downing Street with Prime Minister Gordon Brown and addressed a special meeting of MPs and peers in Parliament. At the Guildhall, President Zuma emphasised the “constantly evolving” ties between the UK and South Africa. He said that the relations were forged not through bilateral agreements but through study, culture, friendship, marriage, sport and food. His country was making strides in improving education, reducing crime and delivering stability for foreign investment, he added. At Wembley, President Zuma met Football Association chairman Lord Triesman and the England manager Fabio Capello. The president said he was confident England supporters visiting South Africa in June for the World Cup would be safe. “It’s expected that people will have concern but we have worked very hard on the World Cup and that has included the question of safety,” he said. “Besides the time of the games themselves, the fact is we have brought down crime already. “We are therefore very confident on this. And when we say we are ready now for the World Cup, we include security in that.” The subject of Zimbabwe was high on the agenda at Downing Street. Speaking to the media afterwards, Mr Brown said Zimbabwe must show progress in key areas including democratic reforms before sanctions are lifted. President Zuma had suggested sanctions should be eased to help the country “move forward”. Rand Slips, Paring Weekly Rally, as South African Reserves Drop By Garth Theunissen/Bloomberg/March 5 March 5 (Bloomberg) — The rand snapped a five-day advance after a report showed South Africa’s gold and foreign currency reserves fell for a third consecutive month in February as a stronger dollar cut the value of holdings in other currencies. The currency declined as much as 0.4 percent to 7.5065 per dollar and traded 0.2 percent weaker at 7.4915 by 9:01 a.m. in Johannesburg, from a close of 7.4753 yesterday. The move pared the rand’s gain this week to 2.9 percent, the steepest five-day advance in more than three months. Gross gold and foreign currency reserves declined to $39.4 billion last month from $39.5 billion in January, the Pretoria- based South African Reserve Bank said on its Web site today. Net reserves dropped to $38.3 billion from $38.6 billion. “The sustained fall in reserves could place additional pressure on the rand in the medium term,” Ayanda Olifant, a Johannesburg-based strategist at Standard Bank Group Ltd. wrote in a client note today. Reserves fell “largely because the dollar continued to trade firmer, especially against the euro.” The dollar has gained 7.5 percent against the pound and 5.5 percent versus the euro this year, crimping the value of South Africa’s reserve held in those currencies. Finance Minister Pravin Gordhan said yesterday that the government will give the Reserve Bank “fiscal support” to boost reserves and curb swings in the rand, which rallied 28 percent against the dollar last year following a 27 percent slump the previous year. South Africa’s foreign currency reserves compare with $67 billion in Turkey, $271 billion in South Korea and $93 billion in Malaysia. Government bonds fell, pushing up the yield on South Africa’s benchmark 13.5 percent security due September 2015 by 1 basis point to 8.18 percent. The bond’s price fell 5 cents to 123.24 rand. Anglo, Nedbank, Santam, Vodacom: South African Equity Preview March 5 (Bloomberg) — The following is a list of companies whose shares may have unusual price changes in South Africa. Stock symbols are in parentheses after company names and prices are from the last close. South Africa’s FTSE/JSE Africa All Share Index advanced for a fifth day, gaining 90.45, or 0.3 percent, to 27,774.10. Anglo American Plc (AGL SJ): Copper rose as much as 1.1 percent to $7,480.50 a metric ton on the London Metal Exchange. Stock of Anglo, the diversified mining company that makes up about 10 percent of South Africa’s benchmark stock index, rose 2.06 rand, or 0.7 percent, to 296 rand. Shares in larger rival BHP Billiton Plc (BIL SJ) dropped 49 cents, or 0.2 percent, to 241.01 rand. Nedbank Group Ltd. (NED SJ): South Africa’s Securities Regulation Panel said it received a complaint against Nedbank from a group including Pinnacle Point Group Ltd. investors. Shares of the bank controlled by Old Mutual Plc rose 1.55 rand, or 1.2 percent, to 126.55 rand. Pioneer Foods Group Ltd. (PFG SJ): PSG Group Ltd. Chief Executive Officer Jannie Mouton has asked the board of Pioneer Food to step down after the company was fined for fixing bread prices, Business Report said, citing Mouton. Pioneer’s shares dropped 5 cents, or 0.1 percent, to 39.05 rand. Santam Ltd. (SNT SJ): Ian Kirk, chief executive officer of Africa’s largest property and casualty insurer, is scheduled to make a presentation to investors and analysts. The stock gained 75 cents, or 0.7 percent, to 106.40 rand. Sasol Ltd. (SOL SJ): Oil rose as much as 0.8 percent to $80.81 a barrel in electronic trading in New York. Stock of Sasol, the world’s biggest maker of motor fuel from coal, fell 1.45 rand, or 0.5 percent, to 284.55 rand. Vodacom Group Ltd. (VOD SJ): A special resolution giving management authority to buy back shares was approved. Vodacom gained 65 cents, or 1.2 percent, to 54.65 rand. Shares or American depositary receipts of the following South African companies closed as follows: Anglo American Plc (AAUKY US) slipped 0.7 percent to $19.50. AngloGold Ashanti Ltd. (AU US) slid 0.6 percent to $37.47. BHP Billiton Ltd. (BBL US) lost 0.1 percent to $64.35. DRDGold Ltd. (DROOY US) added 0.2 percent to $6.41. Gold Fields Ltd. (GFI US) dropped 0.7 percent to $12.18. Harmony Gold Mining Co. (HMY US) fell 1.7 percent to $9.82. Impala Platinum Holdings Co. (IMPUY US) rose less than 0.1 percent to $25.71. Sappi Ltd. (SPP US) climbed 3.3 percent to $4.03. Sasol Ltd. (SSL US) fell 0.7 percent to $37.84. Telkom South Africa Ltd. (TLKGY US) advanced 1 percent to $18. –Editors: Vernon Wessels, Karl Maier. South Africa’s Zuma vs. the Media in London By Meg Handley / www.time.com/ Mar. 05, 2010 London South African President Jacob Zuma received a less than cordial welcome when he stepped off the plane in London for a three-day state visit to Britain this week. The British media, renowned for their sometimes witty, often outlandish headlines and a tone that can swing between cheeky and downright rude, have vilified Zuma for having five wives, calling him everything from a “sex-obsessed bigot” to a “vile buffoon.” The Daily Mail may take the prize for the most outrageous coverage so far. Aside from the two quotes in the previous paragraph, the paper ran a caption beneath a front-page photo of Queen Elizabeth II with Zuma and his newest wife, Thobeka Madiba Zuma, reading: “Just Brought One Wife, Mr. Zuma?” The Mail also commented on what it called Zuma’s “colorful life,” which consists of “five wives, a love child with the daughter of one of his political allies, a criminal trial for alleged rape of an HIV-positive woman and corruption charges.” Not stopping there, the paper reported that Zuma had paid “a sort of tribal deposit on a future bride.” Another prominent newspaper, The Independent wrote that “given the range of distinctly ropey state visitors she has greeted during her 58 years on the throne,” the “distinctly monogamous” Queen Elizabeth was unlikely to be fazed by the visit. The character bashing continued with the Daily Telegraph, which reported that of “all the colorful characters who have visited the Palace during her [Queen Elizabeth] 58 years on the throne … the South African president is probably the first to have faced a multitude of criminal charges.” Zuma was charged with rape five years ago, but he was acquitted at trial. He also faced charges of fraud, racketeering, money laundering, tax evasion and corruption — but all were dropped before last year’s general elections. Zuma lashed out at his critics this week, telling South Africa’s Star newspaper that the British were acting in the superior manner of a colonial master. “When the British came to our country, they said everything we are doing was barbaric, was wrong, inferior in whatever way,” he said. “Bear in mind that I’m a freedom fighter and I fought to free myself, also for my culture to be respected.” The African National Congress Youth League, part of South Africa’s governing coalition, went even further, claiming the treatment of Zuma was fueled by racism. “These British racists continue to live in a dreamland and sadly believe that Africans are still their colonial subjects, with no values and principles,” the league said in a statement. “They believe that the only acceptable values and principles in the world are British values of whiteness and subjugation of Africans.” However, the South African media, particularly editorial cartoonists, have not spared Zuma from criticism. Indeed, much of what the British media have focused on this week is considered old news at home. “His presidency is also highly controversial in South Africa and is being debated by the public and civil society who are holding him to account,” University of Sheffield journalism lecturer Herman Wasserman says. “[It has] created a robust debate about him, which has caused his approval to be at a low point at the moment.” Raymond Louw, editor and publisher of the Southern Africa Report, a South Africa-based weekly, believes Zuma’s recent behavior in some ways merits the crude treatment by the press. Last month, for instance, Zuma admitted to fathering a child out of wedlock, causing a national outcry. “The way they portrayed Zuma was rather extreme but I can understand why there would be a certain amount of criticism in view of his conduct over the past few months,” he says. However, some media analysts believe there are more sinister motivations behind the media’s preoccupation with Zuma. “Just using the word ‘buffoon’ harks back to an era of portraying Africans as simple and less educated,” Wasserman says. Richard Lance Keeble, a professor of journalism at the University of Lincoln in northern England, says the British tabloid obsession with sex and sleaze drives the type of coverage seen with Zuma. “Add to that heady brew a pinch of unacceptable racism and you can easily explain the tabloid treatment of President Zuma’s visit to London this week.” AFRICA / AU :
UN Says Africa Failing to Reap Benefits of Carbon Trade | Nairobi Delegates at a conference in Nairobi say that Africa has not done enough to meet its full potential in global carbon trading. The carbon market, created in part through the Kyoto Protocol, is thought to be currently worth more than $100 billion annually and is expected to expand greatly in the next decades. Under a structure known as the Clean Development Mechanism, industrialized nations who have signed the Kyoto Protocol climate agreement have the option of investing in carbon reduction projects across the world to help offset their own carbon emissions. These projects, which are supposed to also contribute to sustainable development in the host countries, are the source each year of billions of dollars in investment from richer countries into emerging economies. Some projections indicate that the carbon trade market could reach into the trillions of dollars this decade, depending on the direction of future global climate agreements. But speakers at the All-Africa Carbon Forum at the United Nations headquarters in Nairobi, Kenya, are saying that African countries have not taken full advantage of this potential source of outside investment. Only two percent of the nearly 5,000 CDM projects that have been registered worldwide are found in Africa. Achim Stainer, head of the United Nations Environmental Program, which is based in the Kenyan capital, told delegates representing over 30 African countries that the continent needs to scale up its efforts to tap into the potentially-lucrative carbon trade. “We have to analyze how Africa can play a more active role in the global carbon market and in CDM because there is real money in there probably by 2012. The estimates range that we will have through CDM investments in the range of $40 – 50 billion, this is not peanuts and this is just the beginning of the global carbon market,” he said Stainer said that one of the hurdles Africa faces in more fully entering the carbon market is that the scale of its projects are often too small. He suggested that this could be partially addressed through more strongly integrating regional economies. The U.N. official said that if Africa makes the necessary strides towards promoting its CDM potential, investors will likely respond positively. African leaders are also urging the continent’s policymakers to begin preparing for the expected climate shifts. Scientists and researchers have warned sub-Saharan Africa that its agricultural production and economic output could be devastated if the region does not begin adjusting to the changing times. Kenyan President Mwai Kibaki prodded his peers to make climate policy a priority. “As we seek the support of developed countries, African countries need to continue developing national strategies to combat climate change. We ought to bear in mind that addressing the impacts of climate change is about our countries and survival of our people,” he said. The Kenyan president also criticized the recent global climate summit in Copenhagen as a failure. AIG Units Settle Discrimination Case MARCH 5, 2010/online.wsj.com/By BRENT KENDALL and EVAN PEREZ The department said about 2,500 African-American borrowers were victims, and would each receive about $2,300 in compensation. Civil-rights and consumer groups have long alleged that during the recent housing boom some banks channeled ethnic minorities into higher-cost subprime loans, a type of loan intended for borrowers with poor credit or minimal income documentation; whites in similar circumstances received lower-cost loans, the groups alleged. Justice Department officials said more such cases were in the pipeline. U.S. Assistant Attorney General Thomas E. Perez, head of the department’s civil-rights division, said that for a long time, lenders’ supervision over their mortgage brokers was inadequate. AIG spokesman Mark Herr said the company and its subsidiaries disagreed with the government’s allegations but were pleased to reach the settlement and “avoid the distractions and burdens of protracted litigation over contentious issues.” “Neither AIG FSB nor Wilmington Finance countenance or condone discriminatory conduct,” he said, referring to the two subsidiaries, AIG Federal Savings Bank and Wilmington Finance Inc., a mortgage-lending affiliate. The Justice Department heralded the action as an outgrowth of the Financial Fraud Enforcement Task Force, which President Barack Obama appointed to scrutinize practices that led to the financial crisis. The Federal Reserve years ago drew attention to data indicating that minorities received the vast majority of subprime loans. The Fed referred some of the banks to the Justice Department for investigation, officials said. Mike Calhoun, president of the Center for Responsible Lending, a consumer-advocacy group, said that according to government data from 2002 to 2007, half of African-American home mortgages were subprime, compared with about 20% for whites. “Our research indicated widespread discrimination in the banking industry, and in particular that mortgage brokers and lenders were paid higher fees to put people in higher cost loans than they could qualify for,” he said. The American Bankers Association in the past said the data didn’t provide a complete picture of banking practices. An ABA official Thursday said he wasn’t familiar with the AIG case and couldn’t comment. In the AIG case, the Justice Department alleged that African-American borrowers nationwide were charged higher fees on wholesale loans made by the two subsidiaries. Prosecutors don’t allege that the parent company knew of the activities. The AIG subsidiaries failed to supervise the practices of their independent mortgage brokers, a lack of oversight that cleared the way for the brokers to discriminate in setting fees, the department alleged. The loans were issued from July 2003 to May 2006 to borrowers in 19 metropolitan areas, the department said. In some cases, the borrowers weren’t aware that they were victims, officials said. AIG FSB and Wilmington Finance stopped wholesale home-mortgage lending operations in 2006 and 2008, respectively. In addition to paying $6.1 million to victims, the department said, AIG and the subsidiaries will spend at least $1 million on financial education for consumers. Write to Brent Kendall at brent.kendall@dowjones.com and Evan Perez at evan.perez@wsj.com UN /ONU :
USA :
U.S. Voices Concern About Nigerian Leader, Democracy (Update1) (Adds Yar’Adua’s illness beginning in fourth paragraph.) March 4 (Bloomberg) — The U.S. State Department voiced concerns today about the “uncertain” medical condition of Nigerian President Umaru Yar’Adua and the future of Nigerian democracy. It is “essential” for Nigeria’s civilian and military leaders “to avoid any actions that will imperil” Nigerian democracy “as well as the accomplishments that have been achieved under civilian rule,” State Department spokesman Philip J. Crowley said in an e-mailed statement. The Nigerian president “has not been seen publicly or met with members of his cabinet or any of his country’s key political leaders, generating additional unease about the stability of the country and physical capacity of the president to lead the government,” Crowley said. Yar’Adua, 58, was flown to Saudi Arabia on Nov. 23 for the treatment of a heart condition. Nigeria’s parliament appointed Vice President Goodluck Jonathan acting president on Feb. 9 to head off a constitutional crisis in Africa’s most populous country. Jonathan remained acting leader of the oil-rich nation after Yar’Adua returned to the capital of Abuja to recuperate, according to a statement from adviser Olusegun Adeniyi on Feb. 24. “Senior cabinet members and legislative leaders have a right to know the health status of their president and so do Nigeria’s citizens,” Crowley said. Nigeria, which vies with Angola to be Africa’s top oil producer, is the fifth-largest supplier of crude oil to the U.S. Royal Dutch Shell Plc, Exxon Mobil Corp., Chevron Corp., Total SA and Eni SpA run joint ventures with the state oil company that together pump more than 80 percent of Nigeria’s crude. Jonathan, 52, an ethnic Ijaw from the oil-rich Niger River delta state of Bayelsa, won praise for quickly sending troops to contain violent clashes in the north central city of Jos in January. More than 300 people died in the fighting between Christians and Muslims, according to the police. –Editors: Jim Rubin, Edward DeMarco CANADA :
AUSTRALIA :
Valmont to acquire UK metals group Delta for $430 million news 05 March 2010 /www.domain-b.com Valmont Industries Inc, a leading US manufacturer of engineered support structures agreed yesterday to acquire UK’s Delta Plc, a maker of lighting poles and crash barriers and also a provider of galvanizing services for approximately $430 million in cash, aiming to expand its business in Asia, Australia and Africa. The offer price of 185 pence (approximately 28 cents) in cash for each Delta share represents a premium of 20.3 per cent over the closing price of 153.8 pence per Delta share on 3 March, the day prior to the announcement. Further to the acquisition news, shares in Delta soared 24.6 per cent or 37.75 pence to close at 191.50 pence yesterday in London, making it the maximum gainer. The closing price is 3.5 per cent higher than Valmont’s offer price, possibly on the speculation that a rival offer may spring up. London-based Delta Group’s businesses include steel poles and structures, galvanizing services and manganese materials. The company produces road safety barriers, poles and structures for lighting, telecommunication and power transmission, industrial grating and access systems. Delta also produces forged steel grinding media, zinc alloys and oxides, electrolytic manganese dioxide, and manganese metal for use in the production of steel and aluminium. Delta’s manufacturing operations are spread over Australia, Asia, South Africa and the US, employing around 2,500 people. The company reported revenue of £331 million ($500 million) in 2008. Valmont chairman and chief executive officer Mogens C Bay said: ”Delta’s engineered support structures business and galvanizing facilities adds size and geographic coverage to our current businesses. Delta’s access systems and road safety businesses bring new growth platforms for Valmont.” ”With leadership positions in the fast growing Asian markets, and in Australia’s strong resource driven economy, Delta extends Valmont’s global footprint in attractive markets,” Bay added. Valmont intends to finance the buyout with cash and debt and expects to close the deal in the second quarter, subject to customary closing conditions and regulatory approvals. The company expects the acquisition to be accretive to its earnings in 2011. The directors of Delta consider Valmont’s offer to be fair and reasonable and have unanimously recommended the company’s shareholders to accept it. Todd Atkinson, Delta’s CEO said: ”The offer is the result of several years’ effort to achieve such an outcome for the Delta group, and I am pleased to recommend it to our shareholders.” The offer price has been determined on the basis that Delta will not pay any final dividend for the year ended 31 December 2009, a statement said. Omaha, Nebraska-based Valmont Industries Inc is a leading manufacturer of support structures, mechanised irrigation equipment and a provider of protective coating services with 52 manufacturing facilities, most of which are in the US and Canada. The company reported revenue of over $1.9 billion in 2008 and employs nearly 7,400 people. Valmont stock surged 11 per cent, the most in 10 months, to end at $81.56 yesterday in New York. EUROPE :
Coming home bearing gifts At a meeting with Gordon Brown on Thursday, Zuma failed to persuade the British prime minister to drop European Union “smart sanctions” against the Zimbabwean elite — although Brown did agree to support the reinstatement of Zimbabwe’s voting rights at the United Nations. SADC had asked Zuma to appeal for EU sanctions to be dropped on the grounds that they are an impediment to progress towards full democracy there. The EU recently extended sanctions by another year. And Zuma told Brown that visa restrictions on listed Zimbabwean ministers hampers their work. But Brown said Britain’s stance would be reconsidered only if the Zimbabwean commissions for human rights, press freedom and free and fair elections were allowed to operate unhindered. South Africa believes Zimbabwean president Robert Mugabe uses the sanctions to delay real reform changes, whereas the EU insists they have no relevance for people on the ground and the promotion of democratic practice. The good news for South Africa is that a $3,75-billion World Bank loan is on the cards for Eskom. Zuma canvassed and informally secured British support for South Africa’s application for the loan to beef up the country’s energy supply by building more coal stations. Eskom is preparing to build two large coal-fired plants. A 4 000MW plant at Medupi in Limpopo will account for $3,1-billion of the World Bank loan, the rest will be spent on renewables and energy-efficiency projects. The British anti-coal lobby is against this plan, and Brown is unlikely to pronounce on it before the British national elections, due before June, for fear of damaging his electoral support. Endorsement Read Zuma’s letter to World Bank chief Robert Zoellick Brown also urged Zuma to support Britain’s bid for the 2018 Soccer World Cup; insiders say South Africa agreed to “talk up” the bid but would not give a formal endorsement. Said one: “Countries vote strategically when the time comes, so we will not endorse any country because then we may have trouble when we get to the voting.” Zuma’s visit to the UK is said to be particularly significant because of the extraordinary relationship between the two countries. The queen wanted to host the South African head of state because she has a “particular fondness” for South Africa; her first overseas trip was to the country in 1947 with her father, King George VI. Jan Smuts and Nelson Mandela are the only foreign leaders whose statues stand in Parliament Square, along with those of former British prime ministers. Zuma’s visit got off to a rocky start in the media when one columnist called him a “vile buffoon”, but coverage toned down as the South African president’s visit proceeded. His advisers said on Thursday that the characteristic Zuma charm on display at the Downing Street press conference following his meeting with Brown was expected to encourage warmer coverage. CHINA :
Market review podcast: Dr Martyn Davies, director of the China-Africa Network at the Gordon Institute of Business Science www.moneyweb.co.za/05 March 2010 The lessons that can be learnt from China MARTYN DAVIES: Good day Chris – this is it – Africa, at least until the financial crisis in 2007/2008 was nudging 7% growth as a continent which is certainly a very robust growth by any standard but once again, compared to China any economy in comparative terms is under performing. The economy, which routinely gets double-digit GDP growth figures, even in 2009, which was the worst year ever effectively, China’s growth was nudging almost 9% which is a phenomenal performance. The question is what are the developmental lessons coming out of the East, particularly China perhaps, for African economies. I think perhaps they’re numerous – first it’s based on very pragmatic policies and good and functioning institutions to implement those policies. It’s a significant investment and management of an education system in the country. It’s the leadership of a country at corporate political level which is extremely focused on growth and development and they also have a very stable political background as well – all these factors combined result in China being very creative in terms of how it manages its economic growth policies or growth trajectories and resulting in a growth model that may question traditional Bretton Woods institutions as the IMF, World Bank, etcetera of how aspirational emerging market developing economies should actually plan for growth – China is rewriting the text books. CHRIS BLAINE: Now bearing those points in mind – what trends are we seeing in Africa – what’s driving Africa and are we picking up any of those lessons from China? MARTYN DAVIES: Well the key point to note here is that African recovery – I wouldn’t say it’s post-crisis but we are almost in the pre-post-crisis phase as a global economy and the African growth, particularly in Sub-Sahara where the economies are largely underpinned by commodities and the energy prices for example – growth is being driven by Chinese demand, so China’s demand for these commodities is underpinning and fuelling growth in Africa and this is a very positive story, I think. What I often call this is a ‘new coupling of growth’ where China’s or Africa’s growth is dependent on Chinese demand and as these supply chains – these trade links become more established, what we’ll see is that a component of Chinese growth will become dependent on Africa’s ability to supply. So increasingly there’s a shift of a continent – commercial shift away from traditional first world North if you will – traditional markets away towards new emerging markets focused squarely and largely on Asia and certainly on China. CHRIS BLAINE: Part of understanding Africa and China’s relationship, is understanding China – now what don’t investors or people understand about China? MARTYN DAVIES: Chris unfortunately a great deal! We at GIBS every year take a group of 50 to 60 MBA students on a learning journey, if you will, as part of the MBA course to China and Asia to better understand the economy – what’s driving growth – what are the forces of competitiveness coming out of China and unfortunately most of our perceptions of China are at least maybe 20 to 30 years obsolete – it’s an extremely dynamic country – a very dynamic economy – one which is increasingly innovative in nature and this is not often understood – it’s a highly complex, very competitive market and a great deal of businesses fail to understand how competitive or misjudged the degree of competitiveness in that economy. We have a handful of no more than maybe 12 to 15 odd sizeable South African companies with a substantive presence in China. It’s relatively very few, but again, it’s a tough market – companies really need to understand the strategic imperative in China – how to position that economy and it’s an economy where companies like Standard Bank, SABMiller and Sasol are rapidly learning that to succeed in you have to send your best people there. CHRIS BLAINE: Not only that, but what about bringing those lessons back to Africa and making them perhaps dominate the competitive scene here – do you think that’s something that could happen? MARTYN DAVIES: Yes, there are two issues here – I think two levels – firstly the developmental state levels you mentioned is, we have this developmental state in this country or we’re not exactly always sure what it means. Does it mean more enablement to the economy by government or does it mean more intervention in the economy by government and this often results in an ideological debate and unfortunately – a debate which in China is based purely on pragmatic grounds rather than ideological, political ones, but the second level of the discussion is that the corporate level is saying well yes we can go and succeed in China – SABMiller is the largest brewer in China – Sasol could potentially be the single largest investor in China in the next year to two year’s time. Standard Bank – obviously 20% shareholding by ICBC and Naspers one of the major media players in China from South Africa but at corporate level, what are the key sort of learnings these corporates – not just moving to a market entry strategy and succeeding in the Chinese market itself, but what are the key learnings these companies are bringing back to Africa, to the home market in South Africa and in Africa and doing things differently and that’s very early stages of where we are. These corporates who initially went into China looking to succeed in China are starting to see how things are being done differently for example, and say, how do we start to bring these technologies – these systems and processes back to our home market – Standard Bank would certainly be a case in point when thinking at that level. Highlights From STP’s Q4 Conference Call: Chairman Sees Insustry Consolidation and SunTech as a Clear Leader Suntech Power (NYSE: STP) reports Q4 EPS of $0.27, 16 cents better than the analyst estimate of $0.11. Revenue for the quarter was $583.6 million, which compares to the estimate of $468.25 million. Shares are up 5.63% today. Highlights From STP’s Q4 Conference Call: Suntech expects first quarter 2010 shipments to increase by 5 to 10% compared to the fourth quarter of 2009. Consolidated gross margin in the first quarter of 2010 is expected to be in the range of 18% to 20%. Suntech targets to ship more than 1.25GW of PV products in the full-year 2010. The Company continues to target expansion to 1.4GW of PV cell and module production capacity by the middle of 2010, of which 450MW will be Pluto-enabled. Capital expenditures are expected to be approximately $200 million in 2010. (Zhengrong Shi, Chairman and Chief Executive Officer) We are very pleased to have significantly beaten our shipment guidance in Q4. And have delivered revenue of 583.6 million. Profits were higher than Q3 of 2009. Strong market share gains and the poor forward in demand due to the submission of a mid year subsidy adjustment in Germany enabled us to increase shipments by 32% way above the 10% growth that we guided. We are seeing a trend towards consolidation in the industry with Suntech emerging as one of the clear leaders. Products shipped so far in Q1 of 2010 we have already delivered more than 2,000 of panels to more than 1,400 customers in over 80 countries. Relatively stable ASPs and an excellent progress using our silicon and non-silicon costs also enabled us to deliver a marked dump in profitability with gross margin for our Core Wafer Module business moving from 20% in Q3 to 26.3% in fourth quarter of 2009. We significantly bolstered our European team by over tripling our head count in 2009. We estimate that around two-thirds of our 2009 European sales were to the commercial and residential rooftop market. Turning to Germany, there has been a lot of discussion related to the proposed cuts in our entire second place from the beginning of July. From our own detailed analysis we do not see the need to adjust ASPs much from the Q1 level for a couple of reasons. Firstly, we believe that healthy and acceptable investment returns can be achieved after the Q1 ASP level. Secondly, the subsidies in other global markets continue to provide very attractive returns for investors in solar projects. We are fully allocated for the first half of 2010 and our current popular fees our capacity in the second half of the year. Naturally we are continuing to closely monitor the situation. We have seen significant growth in the key markets of Italy, France, Benelux and Greece where our investment low cost experience and our support has paid for its dividends. Our European sales were roughly 78% in 2008 and this moves down to 74% in 2009 and should fall just below 70% in 2010. Turning to Asia, we have seen a lot of opportunities for growth in Asia-Pacific, Middle East and Africa. Emerging China we are continuing to build our presence as the best provider of opportunities to solar solutions. We’ve developed China’s first [indiscernible] utility scale solar plant and it commands another two plants that are scheduled for completion late this year. Our rooftop projects, we secure around 20% out of the project under the National Rooftop Program and are aware of positioning to secure a significant portion of Golden Sunshine projects. We also have a strategic framework agreement to develop two-gigawatt projects, which is a good indication of the necessary high-volume potential of this market. While profitability in China is still low compared to other regions, we have initiatives in place to steadily reduce our cost and improve profitability in a mid term. (Global Sales/Marketing & Chief Strategy Officer) North America reached another record, with sales increasing by almost 60% over Q3. In addition, our 2009 shipments were double our 2008 shipments, which is indicative of our expanding market share. We are also gaining a lot of traction in the utilities solar market. We have a pipeline of over two-gigawatts of project opportunities that we are working on. Of these, we are short-listed on around one-gigawatt, and we hope to record some significant wins later this year. In 2010 we expect to see the U.S. solar market double in size, and our own sales triple. This should take our market share in the U.S. to around 20% compared to an estimated 15% in 2009. (Chief Technical Officer) I’m pleased to report that Pluto is performing extremely well in large scale production and we are on track to have 450-megawatts of Pluto enabled capacity by the middle of 2010. We are also on track to meet our Pluto shipment guidance of 30-megawatts in the first half of the year, and 150-megawatts in the second half as we continue to ramp production. The partly evaluation of the technology indicates that generation two Pluto will achieve conversion efficiencies of 20 to 21% on 1.0 crystalline sales and 18 to 19% on multi-crystalline sales. (CFO) I’m pleased to announce that our gross margin jumped from 84.1 million and 17.8% in Q3 to 138.7 and 23.85 in Q4 of 2009. Silicone wafer costs including inventory and packed cell about 15% sequentially, and our non-silicone costs improved to $0.56 per watt in Q4 from $0.60 per watt in the third quarter as a result of higher PV cell conversion efficiencies and higher utilization of our capacity. Operating expenses for Q4 of 2009 were 51.7 million or 8.9% of revenue compared to 39.3 million or 8% of revenue in Q3 of 2009. Income from operations was 87 million and operating margin was 14.9% in the fourth quarter of 2009 compared to 44.8 million and operating margin of 98% in the third quarter of 2009. Net interest expenses were 24.2 million in the fourth quarter of 2009 compared to net interest expenses of 23.5 million in Q3 of 2009. Due to the depreciation of the euro versus the U.S. dollar we had a foreign exchange loss of 13.2 million in the fourth quarter compared to a gain of 10.5 million in the third quarter. Due to weakness in the euro we are adopting a more aggressive hedging strategy going forward. The major non cash related expenses were share base the compensation charges of 1.6 million, the 12.7 million of non-cash interest expenses that I mentioned earlier, and depreciation and amortization expenses of 20.9 million. CapEx, which was primarily for newly installed cell and modular capacity totaled 35.4 million in Q4. Turning to the balance sheet, I am very pleased to announce that our cash and cash equivalent plus our short-term investment amounted to one billion at the end of the quarter, up from 855.7 million as of September 30, 2009. Turning quickly to our full year 2009 results total net revenue were 1.7 billion. Consolidated gross margin gross profits were 338.8 million and gross margin was 20%. (Q&A) Congratulations for a strong quarter, seems like the stress is from both strong demand and great margin. And so I want to understand for Q4 wafer price, and obviously you stated that it declined 15%. So what’s the trend for Q1 and in Q2? And also, how do you expect processing cost to trend in the next few quarters? So in summary, we want to find out your assumption to reach your 18 to 20% Q1 gross margin, which say a slight sequential decline. ( Can you give an update on the Asian market? It seems like there’s a lot of growth for you there in 2010. Particularly on China, any new updated thoughts on when the incentive programs might get more formalized? And recently there has also been positive news coming on the Indian market with the budget last week. I was wondering if you have any thoughts on those two markets. (A)We still believe China market requires proxies and as we know last year there was a lot of talk about what labor fitting tasks should be announced by the government, so like we had a tendering process, then we had a Golden Sunshine subsidy program and we Rooftop subsidy program. This year the government continues to do large projects of at least of three to five-megawatts by this public tendering process, try to find what is the most appropriate level of feeding ties the government should provide. So that is why the probability by being solar in China was not that great in 2009 but we decided to continue to do so to hopefully build a brand name into integrations and secondly we see this is a great opportunity for us to continue reduce the cost, not just at the module level, but also at the system integration level. So we do see a great momentum in China’s moment. And of course same in India and recently there was some announcement about the budget allocation in India to achieve about one-gagawatt installation before in the 2013. So other Asian like Australia, Thailand and Middle East and Africa I think this is really emerging markets and we believe that we are going to grow fairly fast in the next couple of years. Good morning and good afternoon, thanks for taking the questions. Real quick on the U.S. facility expansion with the Q3 ’09 shipments out there can you walk through the savings that you expect to get And Steven or Dr. Shi, I’m wondering I’m wondering, what are your thoughts on obviously it’s a strategic move to move to the U.S. and there’s been I guess yesterday’s Wall Street Journal had something in wind about buy American provisions, what do you see coming down the Washington pipeline regarding a potential buy-American provision which you obviously would have a first-mover advantage for. Do you see anything applying to solar any time soon for the U.S. market? (A) I think what we’ve seen thus far are buy America provisions that relate to things that relate to the stimulus package or different state or municipalities might have certain aspects of buy America but I do think that if you take a step back you should take a look at the fact that with things like jobs creation and things like that, they are probably five times more jobs that are created in the downstream as opposed to the upstream in the solar value chain and the downstream jobs are really truly local in nature to the extent that we can ship a product like we are which is extremely cost competitive, high quality product, we actually create a very thriving downstream market. So we actually see that, we do that the growth in the number of customers but also in the customers themselves in terms of their head count, in the U.S. actually has grown quite a bit in the past year. INDIA :
Strong liquidity enables us to continue building market share – StanChart STANDARD Chartered Plc has announced a seventh successive year of record income of US $15.18 billion and operating profit before tax of US $5.15 billion last year despite adverse effects of the global economic crisis. Standard Chartered Plc, which trades in the country as Standard Chartered Zambia Plc stated that the results demonstrated the underlying strength and momentum across its markets and businesses, despite the ongoing adverse global economic conditions. “Our strong liquidity and capital position enabled us to continue building our market share across our footprint, generating positive business momentum as we enter 2010,” Standard Chartered Plc stated. “2009 delivered strong and diversified profit and income growth across our markets in Asia, Africa and the Middle East. Five markets delivered income of over $1 billion, with India and Hong Kong also delivering over $1 billion in operating profit before tax (OPBT).” Standard Chartered Plc stated that wholesale banking continued to demonstrate strong business momentum with significant increases in both client and own account income growth, while consumer banking saw a strong upturn in performance during the second half of the year. “Throughout the tough environment, Standard Chartered has continued to provide support for its customers and corporate clients, significantly increasing lending and other forms of support across our markets,” stated Standard Chartered Plc. “2009 total lending climbed by 13 per cent US billion to US $250 billion. We helped many more of our customers buy their own homes, increasing our mortgage lending by nearly 21 per cent to US $58 billion. We helped small and medium enterprises start up and grow with an extra 14 per cent increase in lending to more than US $13 billion.” Standard Chartered Plc stated that it continued to focus on the basics of good banking, keeping a tight grip on costs and risk control and maintaining a liquid and conservative balance sheet. BRASIL:
Strides Arcolab buys back divested Brazillian facility from Aspen for $75 million news Ravi Kunder/ www.domain-b.com/05 March 2010 The facility manufactures penems and penicillins, which Strides had divested to Aspen in 2007 when it exited its LAtin American operations. Strides held a 51-per cent stake in Strides Latina, a Latin American joint venture with Elcemar Almeida and Associates, which held the remaining 49 per cent. In November 2007, Strides sold its 51 per cent stake to Aspen for $152.5 million. Strides Latina operates in Brazil under the name Cellofarm, in Mexico as Solara and in Venezuela under the brand Sumifarma. The Compos facility was one of the two manufacturing plants owned by Cellofarm, which Strides has now reacquired from Aspen. Strides had built the state-of-the-art sterile injectable facility at Compos in Rio de Janeiro, at a cost of $30 million in May 2007. The transaction has created an opportunity for Aspen’s South African manufacturing facilities to export product to the Latin American market. The Aspen’s facility in Campos is forecast to deliver $40 million on an annualised basis. Penems are a discrete class of ß-lactams that comprise structural hybrids of penicillins, and are a key domain for Strides. Strides Arcolab, one of the world’s largest softgel capsule manufacturer said that the acquisition of Campos facility is part of its well integrated strategy with licensing and supply agreements with global partners already in place. Arun Kumar, vice chairman and group CEO said, ”Penems and penicillins form an important part of Strides Specialty injectable business and licensing agreements for Penems have been concluded with various customers on a worldwide basis making the acquisition an important part of growing our specialty injectable business. Aspen, listed on Johannesburg Stock Exchange and 19 per cent owned by Britain’s GlaxoSmithKline is the largest generics manufacturer in Africa and is also the leading supplier of generic medicines to both the private and the public sectors in South Africa. It supplies drugs to about 100 countries across the globe and is the largest supplier of the life-prolonging HIV/AIDS drugs to state-run hospitals in South Africa. Strides Arcolab is a global pharmaceutical company that develops and manufactures a wide range of IP-led niche pharmaceutical products with an emphasis on sterile injectables. The company has 14 manufacturing facilities across 6 countries, including its joint venture with Aspen Pharma in India and has a marketing presence in more than 60 countries in developed and emerging markets. Strides and Aspen have 50:50 joint venture partnerships in Cyprus-based Onco Laboratories Limited and Onco Therapies Limited in India. South Africa – How to ensure SA’s economic recovery 05 Mar 2010/www.meattradenewsdaily.co.uk The recession ended and most analysts agree that the world economy will probably grow by 3% or more in 2010, much better than the dismal growth of -2,5% in 2009. Much will depend on the decisions taken by governments on further financial stimulus packages. But governments’ exit from financial support should be timed correctly. If they stop support too soon, recovery won’t take place. Developing countries were not as vulnerable to the global credit market as developed countries and generally didn’t suffer as much. In South Africa, the growth decreased by 2,8%, compared to 6,7% in Germany, 6% in the UK and 3,8% in the US and Brazil. Africa even managed an average growth of +1% in 2009, compared to the global -2,5%. An average growth of +4,5% is expected for African countries by 2014. The South African economy will probably share in this economic growth. The Johannesburg Securities Exchange (JSE) outperformed most large stock exchanges in 2009. Service delivery and the cost of doing business here also limit our international competitiveness. If one studies the performance of local companies and institutions, it’s clear that the closer an entity is linked to government, the worse its performance and service delivery. Source: farmersweekly.co.za
EN BREF, CE 05 mars 2010 … AGNEWS / OMAR, BXL,05/03/2010 |
BURUNDI – AFRICA / INTERNATIONAL : 05 MARS 2010 [UN In Talks With DR Congo On Withdrawal Of Peacekeeping Mission]
