Africa Real Estate News
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Africa Real Estate News |
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Tunisia opens bank of genetic resources
Tunisia's president, Zine El Abidine Ben Ali, inaugurated a national gene bank this month (11 November) to promote the development of sustainable agriculture in the country.
Tanzania: Dar Owes $1.5bn to Major Lender
Tanzania is currently obliged to pay nearly $1.5 billion to the World Bank Group (WBG). The amount is about Sh1.7 trillion at the current official exchange rate.
Standard Bank bids to fund Zambia oil purchase
LUSAKA, November (28) - A unit of South Africa's Standard Bank has tendered to finance a $1.07 billion crude oil feedstock purchase deal for mineral-rich Zambia, a senior government official said on Wednesday.
Chad Smith joins Peoples State Bank
President and CEO of Peoples State Bank Joe Joyce has announced that Chad Smith has joined Peoples State Bank as Assistant Vice President and Loan Officer. Chad will be based in the Peoples’ Sayre Office at 205 W. Lockhart St., in downtown Sayre.
South Africa: Zimbabwe Market Booming
Zimbabwe's residential property market is still steaming ahead, despite the economic and political woes in the country. About four years ago the country's property market was booming because it was seen as a shelter against runaway inflation.
Zambia: VJ Retires from Active Politics
FORMER Information and Broadcasting Services minister, Vernon Mwaanga has predicted a bright future for Zambia and advised leaders to look beyond themselves and their tribes.
Zimbabwe c.bank says new bank notes imminent
Zimbabwe will soon issue new bank notes, for the second time in as many years, to try to control rampant inflation and curb black market trade, central bank Governor Gideon Gono said on Wednesday.
The Central African Republic: low intensity evil
The Vakaga region of the Central African Republic (CAR), summer 2007: at first glance the streets of Birao seemed peaceful.
Major Cape Verde investments to bolster property market
Developers and hotel chains have cottoned on to the massive potential of the Cape Verde islands as a tourism destination.
Further good news for Cape Verde property investment
Investors are being urged to look toward the UK's closest tropical islands, Cape Verde, in order to secure highly profitable long-term overseas property opportunities.
A country on the edge
Even though economic growth is substantial and social service delivery -- while not as fast as we want -- is reaching millions, Aids will continue to kill hundreds of thousands in South Africa, burdening families and orphaning children.
Uganda: Bank of Africa Targeting Women
BANK of Africa has launched a loan facility for women. Dubbed Super Kikapu, the facility provides up to sh100m in loans to professionally-run, women-initiated businesses.
Grad on Tanzanian mission
A UNBC bachelor of science graduate has entered a different world where poverty, high mortality rates and AIDS rule. Joseph Landry, 21, is spending 10 months in rural Tanzania, Africa, doing an international youth internship program as a primary health-care worker.
Tunisia Economic Forum honours H.E. Mohammed Al Gergawi
Held under the patronage of H.E. President Zein El-Abidine Ben Ali from November 9-10, the event was attended by Tunisia's Prime Minister Mohamed Al Ghannoushi and more than 700 senior representatives from Tunisia and the wider Arab World.
Comoros Government Issues Ultimatum to Embattled Anjouan President Bacar
The Union government of the Comoros Islands has given the embattled President of Anjouan, Mohamed Bacar, two weeks to vacate the presidency and give way for a new election or face military action.
Tunisia's Ben Ali set to extend 20-year rule
Supporters of Tunisian President Zine al Abidine Ben Ali predict he will seek another mandate when his latest term ends in 2009, confident the veteran leader will make the Maghreb's most modern state more prosperous.
Uganda: Real Estate Developers Create Modern Villages
Kampala is steadily stretching its boundaries as evidenced by the new real estate villages that surround the city today. This means that the need for accommodation for people working in Kampala is fast improving.
Mrs. Museveni commissions housing project
THE First Lady, Janet Museveni, on Friday commissioned a housing project in Ntinda-Kisaasi and called upon developers to join hands and meet Uganda’s ever growing housing needs.
Real Estate Conference to hold in Nigeria
In order to fulfill its aim of leading and delivering excellent services to its customers in the insurance industry, the shareholders of Mutual Benefit Assurance Plc has approved of the company to raise an additional N10 billion from the capital market to increase the company’s capital base.
Nigeria: Mutual Benefits to Raise N10b From Capital Market
Shareholders of Mutual Benefits Assurance Plc (MUTUAL) has endorsed its directors' plan to raise an additional N10 billion from the capital market, to boost its capital base.
Keeping a reunion tour from becoming a broken record
So Van Halen, you've decided to get the old band back together. Good for you. Maybe you're seeking some of that old glory, need a little cash to fill the retirement coffers, or just want to play one more time.
Transparency of oil revenues under debate in Sao Tome and Principe
Sao Tome, Sao Tome and Principe, 29 Oct – Sao Tome and Principe is to host a regional conference as of Monday on the management and transparency of oil revenues, officials said.
South Africa: Throwing a Chair is Sign of Progress
WHEN police were called in to restore order as chairs and insults flew in Vryheid last week, it captured perfectly how far the politics of KwaZulu-Natal has moved since the bloody turf wars of the late '90s between the Inkatha Freedom Party (IFP) and the African National Congress (ANC).
Sudan: Southern Government Calls for Investment
The Southern Sudan government wants East African states to take advantage of the numerous investments opportunities in the country.
Congo peacekeepers stuck in middle
Checkpoint culture is deeply entrenched in North Kivu. To move anywhere out of the provincial capital, Goma, requires tolerance, tenacity and time.
Nigerian Governor leads trade mission to US
Governor of Nigeria's North-Central State, Kano, Ibrahim Shekarau, is expected in the US Sunday to begin a seven-day trade mission to some American cities, PANA learnt here Friday.
Malawi President Challenges Transparency International Report
Malawi’s President Bingu Wa Mutharika is reportedly upset and is challenging Berlin-based Transparency International to substantiate its findings that corruption is rampant in his country.
Kenya polls set for 27 December
Kenya's electoral commission has named 27 December as the date for elections. Presidential, parliamentary and civic polls will be held simultaneously and are expected to be closely contested.
Ghana: Prosecute Those Who Have Embezzled Funds
A presidential aspirant of the Convention People's Party (CPP), Mr. Bright Akwetey, has called on the Attorney General and Minister of Justice to prosecute all those found by the Public Accounts Committee of Parliament to have embezzled state funds to demonstrate that our laws can bite.
Papal guidance for bishops of Gabon
Pope Benedict XVI (bio - news) met on October 26 with a group of bishops from Gabon, who were completing their ad limina visits to Rome.
Letter From Djibouti
If there were to be a contest for the world's most beautiful topography, it would take a formidable challenge to knock Djibouti out of last place. From the air, the country calls to mind nothing so much as a vast
Seventh Africa Governance Forum set to open in Burkina Faso
Seventh Africa Governance Forum (AGFVII), convened by the Regional Bureau for Africa of the United Nations Development Programme (UNDP) will open here on 25 October, bringing together representatives from about 30 African countries to discuss key challenges facing them in capacity development for social
World Bank to help Morocco reduce debt risk
Morocco and the World Bank signed a Master Derivatives Agreement (MDA) on Monday, allowing Morocco to use a set of World Bank instruments to help it manage its currency and interest rate risk associated with its debt portfolio.
South Africa: Orion to Use Isando Sale Proceeds for Growth
LISTED property company Orion Real Estate, formerly Alpina Investment Holdings, said yesterday it had sold an industrial complex in Isando, Johannesburg, for R34m in cash, and would use the proceeds to invest in other property.
Lesotho launches price subsidy campaign
Lesotho authorities are currently sensitising the public on the food price subsidy.The campaign, conducted by officials from Trade and Marketing departments, sensitises citizens about the recommended prices.
Cameroon: Upper Nkam CPDM Celebrates Election Victory
Militants used the celebrations in Bafang to reaffirm support for President Paul Biya. Militants of the Cameroon Peoples' Democratic Movement (CPDM) in the Upper Nkam (Bafang) have pledged their solidarity behind President Paul Biya...
Egypt labour unrest: late October updates
Egypt’s workers’ unrest is continuing unabated. According to the Egyptian Workers and Trade Union Watch (EWTUW) there have been a total of 580 industrial actions in the period January- September.
Burundi president in talks with opposition
Bujumbura - Burundi's president started consultations with a key opposition party in a bid to break a political deadlock that has crippled the small central African nation for months, sources on both sides said Wednesday.
DR Congo to introduce modern payment system
Democratic Republic of Congo (DRC) 's budget is expected to increase from 2 billion dollars to 20 billion after the installation of a modern national payment system (SNP)
Congo violence has displaced thousands - UN
Kinshasa - The latest clashes in the Democratic Republic of Congo have driven 33 000 more people from villages in Nord-Kivu province and a cholera outbreak is suspected, UN agencies reported on Wednesday.
Egypt stock indexes at all-time high, SODIC leads
Egypt's benchmark Case 30 stock index hit an all-time high on Wednesday, led by real estate developer SODIC which raced to a 20-month high after a bullish stock recommendation from HSBC.
Benin Government withdraws license of mobile phone operator
Cotonou, Benin - The Benin Government has withdrawn the operating licence of the mobile telephone network operator "Telecel Benin Sa" following the failure of the company to comply with the terms of its contract.
UN council urges election progress in Ivory Coast
U.N. Security Council members urged the government of Ivory Coast on Monday to meet its commitments on registering voters and other preparations for long-delayed elections aimed at bolstering a peace deal.
Opposition party wins legislative by-election in Gabon
The opposition party, Union of Gabonese People (UPG), has won the legislative by-election held Sunday for the first seat of the 5th municipality of Libreville, the Gabonese capital. This brings to seven the number of UPG MPs in parliament.
Cameroon: Rumpi Project Under Disbursement Sanction
Mbongo Molongo Noah, Board Chairman of the South West Development Authority ( SOWEDA) has expressed regrets that the RUMPI Project was still under "disbursement sanctions by the African Development Bank (ADB)", their main sponsor.
Burundi: Country Study Plots Future, Economy
As Burundi recovers from 14 years of civil war, the country has embarked on a comprehensive strategic programme aimed at lifting the economy from years of neglect and conflict.
Former Mozambique President Wins Leadership Prize
Former Mozambique president Joaquim Chissano on Monday won a $5 million leadership prize that promoters hope will encourage other African heads of state to rule wisely, without overstaying their welcomes.
Mauritania: New Govt Tackling Waste Management
Since the 1970s, Mauritania's capital city has been growing explosively and today a million people call the scruffy, ramshackle city's collection of tin-roofed shacks and rough concrete buildings home.
Libya Ready to Deploy Its New $40bn Fund
The government's stated strategy As part of a strategy to reduce the country's oil dependence and diversify sources of income, Libya has established a sovereign wealth fund is starting to deploy its $40bn (EU28bn) capital on international markets.
Kenya: Kibaki Ignores World Bank Funds Row
President Kibaki on Sunday refused to be drawn into the controversy involving World Bank consultants in managing the informal sector enterprise funds.
Kenyan President Dissolves Parliament
President Mwai Kibaki dissolved Kenya's parliament Monday, starting the countdown to elections in December that promise to be the most closely contested in the country's history.
Gambia: Focus On Politics
We have been focusing on politics in this column. We have traced the political history of the Gambia from Pre-Colonial to Post-Independence era. The narration of events is meant to help the youngsters to know the past so as to understand the present in order to enable them shape the future.
Ethiopia: Anticorruption Comm'n to Investigate Real Estate Plot Grants
The Federal Ethics and Anticorruption Commission (FEACC) will investigate the alleged shady deals behind plot grants to real estate developers.
Botswana: UB SRC President Rejects Political Policy
The University of Botswana Student Representative Council is aware of a recently released draft policy on political participation of staff and students.
Civil servants protest in Egypt
At least 2,000 civil servants have demonstrated in Cairo to demand increased wages, a security source said, in the latest protest by public sector employees to challenge the government.
Botswana: Expert Forecasts Drop in GDP Growth
Despite the positive outlook of Botswana's economy, the Gross Domestic Product (GDP) is likely to ease due to the levelling off of the diamond sector in the global market, a financial expert has said.
Gambia: Market Vendors Evicted
Reliable reports had it that the Brikama Area Council recently evicted more than one hundred fruit and vegetable vendors at the Triangular Space at the Brikama Market opposite the Guaranty Trust Bank Branch.
Lesotho opposition chief threatens mass protests
Lesotho's opposition leader vowed Thursday to lead a campaign of mass protests to force new elections if the government fails to agree to talks to settle a dispute over the allocation of parliamentary seats.
Libya Elected to UN Security Council
On Tuesday, Libya was elected by an overwhelming majority to the world’s premier security body. Claiming 178 out of a possible 192 votes from United Nations members, the former state sponsor of terrorism joined Vietnam, Burkina Faso
UN Refugee Agency Moves Supplies From Liberia to Mauritania
The United Nations refugee agency has succeeded in dispatching a truck convoy from Liberia to Mauritania in a 25-day journey aimed at redeploying resources as part of a broader cost-saving effort that will benefit thousands of people. "This was an extraordinary achievement.
Algeria forex reserves at record $90 bln in H1
OPEC-member Algeria saw its foreign exchange reserves rising to $ 90.96 billion at the end of June 2007 due to higher oil exports, the country's Central Bank Governor said on Monday.
Senegal elects Diop as Wade second in command
Senegal's revamped Senate has elected a new head, Pape Diop. Now, as the head of the senate, Diop becomes the country's second most powerful personality after President Abdoulaye Wade, and can act as president in the event that the head of state is incapacitated.
Rwanda: $230m Boost to Rwanda's Tourism
According to the deputy director general of Rwanda Investments and Export Promotion Agency (RIEPA) Claire Akamanzi, the partnership will see the development of Akagera National Park
Nigeria: Union Trustees to Float N4b Mixed Fund
Union Trustees Limited, subsidiary of Union Bank Nigeria Plc, has concluded arrangements for the floating of N4 billion mixed trust fund through an offer for public subscription with a completion board meeting in Lagos.
Namibia: Top Estate Agents Honoured
The ninth annual Bank Windhoek Estate Agents Awards were held in Windhoek on Friday. The awards are aimed at giving recognition to real estate agents, agencies and developers for their commitment and support towards Bank Windhoek and its clients and to strengthen partnership with the industry.
Ethiopia: Houses Agency to Layoff 2,350
A restructuring study underway by the Ministry of Works and Urban Development (MoWUD) and leading officials at the Rented Houses Agency (RHA) is to layoff over 2,350 of the latter's 2,800 employees.
Botswana Sept inflation eases to 6,8%
Botswana's consumer inflation rate slowed to 6,8 percent year-on-year in September, continuing its downward move in the previous month, the Central Statistics Office said on Tuesday.
Congo pygmies appeal to World Bank over logging
A delegation of rainforest pygmies from Democratic Republic of Congo will fly to Washington this week to complain to the World Bank about its support for wholesale logging to help rebuild the war-ravaged economy.
Kenya: President Now Changes His Campaign Style
In the heightened political campaigns, President Kibaki has campaigned intensively in the Rift Valley province, thrice in as many weeks, a twin pointer to the new style of vote-hunting that he has adopted...
As Angola Rebuilds, Most Find Their Poverty Persists
Two years ago, only the brave or desperate would attempt the 186-mile drive from this garbage-strewn capital to the northern provincial capital, Uige.
A choice of political leadership for Ethiopia
Introduction: A little bit of political history For Leadership to hold, legitimacy is the single most important element.
The root cause of N-Delta armed struggle, by Benin chief priest
CHIEF priest to the Oba of Benin, Chief Nosakhare Isekhure, Friday, said that the armed struggle in the Niger Delta was a direct consequence of the neglect of the area by successive administrations.
Cameroon: Female Ministers Rejoice Over Political Empowerment
Some female Ministers, on behalf of the Cameroonian woman, have extended a word of thanks to the regime in power for its continuous commitment to empower them and for appointing some of them to positions of decision-making.
Burundi: The 2008 Annual Budget to Be Presented
The annual budget for 2008 will be presented to the National Assembly in early November 2007, the Finance Minister Ms Clotilde Nizigama said.
Mozambique buys back entire trade debt
Mozambique has paid off the remainder of its trade debt totalling US$153.2 million, Michael Baxter of the World Bank said, cited by Mozambican newspaper Not?cias.
Gold Mining and Human Rights in Mali
Gold mining has become a major economic activity in Mali since 1990, its second source of export revenue after cotton. Its fast growth has led to much hope for development, a hope that has been bolstered by the past few years' boom in the price of gold on the global markets.
Algeria Bank reveals massive drawing operations
Algeria Bank can afford the liquidity required in the market, a source within Algeria Bank told El Khabar. Yet, Algeria Bank recorded huge amounts drawings between 2005 and 2006, which raises many questions about the destination of the amounts out of control.
Libya Elected to UN Security Council
On Tuesday, Libya was elected by an overwhelming majority to the world’s premier security body. Claiming 178 out of a possible 192 votes from United Nations members, the former state sponsor of terrorism joined Vietnam, Burkina Faso
South Africa: Chinese Interest in Property
THERE was huge interest in the South African residential property market among high net worth visitors at the recent China International Luxury Property Show in Shanghai, where 50 exhibitors represented about 15 countries from around the world.
Financial stocks push Egyptian indexes up marginally
Egypt's main indexes inched up fractionally to new life highs on Tuesday supported by banks and financial stocks although profit-taking in blue chip stocks weighed on the market, brokers said.
Sao Tome government negotiates with mutinous police unit
The government of Sao Tome and Principe opened negotiations Tuesday with disgruntled members of the West African country's elite police unit who took control of police headquarters by force and were holding some two dozen policemen hostage, officials said.
Exim Bank extends limit to finance power project in Rwanda
Public sector lender Exim Bank has extended a Line of Credit (LoC) of $ 20-million to the Government of Rwanda to finance the construction of a hydro-power project in the African nation.
Namibia: Money Laundering Regulation Considered
The Anti-money Laundering Advisory Council (AMLAC) yesterday met representatives of the Bank of Namibia (BoN) as the regulator of the banking sector to discuss its role in terms of the Financial Intelligence Act that was gazetted in June.
Malawi c.bank chief sees single digit inflation in 2007
Malawi's central bank Governor Victor Mbewe said on Tuesday inflation should stay in single digits during 2007 although higher oil prices posed the biggest threat.
Ghana: Barclays Bank Limited Donates to Orphanage Africa
Two Departments of Barclays Bank of Ghana Limited, Corporate Credit and Retail Risk have donated items worth GHC 1500 to the Orphanage Africa at Ayikuma near Madina.
Botswana: BNYC Launches Political Campaign
The Botswana National Youth Council (BNYC) in concert with the Fredrich Ebert Foundation (FEF) is to embark on political empowerment workshops for youths intending to contest the 2009 general elections.
World Bank praises Sudan currency exchange process
The World Bank has praised the success of the introduction of new unified currency in the Sudan. The international body said today the new pound would result in greater efficiency and enhanced stability of the financial system.
Libya plans to sell stake in al Wihda Bank
Libya's Central Bank said on Monday it is offering for sale a stake in the country's fifth-largest state-owned bank. The Bank picked Rothschild & Cie as its adviser on the sale of a minority share of al Wihda Bank as a first step, before expanding it to 51 percent share later on.
Ethiopia - Dutch investor plans five-star hotel for $40 mil
Addis Ababa, Ethiopia - Absorbed by the current investment climate and opportunities in Ethiopia, a Dutch national is to invest over 40 mln USD on a five star hotel and real-estate ventures in Addis Ababa.
ADB evaluates projects in Cameroon
The 17th meeting of the Bank with project coordinators also examined setbacks to project execution over the weekend in Kribi. The African Development Bank (ADB)
Algeria expected to lift bank curbs - adviser
The Algerian government is expected shortly to cancel a decision forcing public companies to put their money only in state-owned banks, a presidential adviser said in remarks published on Sunday.
Angolan bank finances agricultural and construction projects
Angolan bank Banco Africano de Investimentos (BAI) is to finance projects linked to the agricultural and construction sectors in Angola, under the terms of a cooperation agreement with Banco de Desenvolvimento de Angola (BDA), newspaper Jornal de Angola reported.
Mozambique: Debt Repayments Falling
Mozambique paid 310.5 million US dollars to its foreign creditors in the first half of this year, which was a decline of 19 per cent when compared with the same period in 2006.
The Government of Morocco: Where is the Program?
A new war has begun in the ranks of the anticipated governmental coalition in Morocco. It is not a war of positions, after the loyalist parties and the opposition had lined up in their previous positions.
Ivory Coast Opposition Rallying for Fair Elections
Opposition leaders in divided Ivory Coast have recently been holding public rallies denouncing the government and telling their supporters to change the country through voting.
Libya plans to sell stake in al Wihda Bank
Libya's Central Bank said on Monday it is offering for sale a stake in the country's fifth-largest state-owned bank. The Bank picked Rothschild & Cie as its adviser on the sale of a minority share of al Wihda Bank as a first step, before expanding it to 51 percent share later on.
Senegal digging up the sands to spur new growth
Senegal, whose economic growth rate slowed down last year due to a downturn in traditional activities, is preparing to dig deeper into its sandy soils in search of rich minerals to revitalise its economy.
Mauritius: Political jumble
Political life seems in a real mess. There is nothing new to the fact that all avenues are open in politics - especially in Mauritius apparently. But it appears we have reached heights over the past few weeks.
St. Helena - Crisis in elderly care
Saint Helena, like many communities around the world, is experiencing an ageing population. Not only are there more older people on the island but people are living longer.
Congo-Kinshasa: Rebels - Sort Out the Politics First
President Joseph Kabila of the Democratic Republic of Congo last week called on world leaders, specifically the United Nations, to help his government disarm foreign armed groups operating from histerritory.
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