Africa
Zimbabwe Passes Law Stipulating 51% Black Company Ownership Within 5 Years Zimbabwe passed a law that compels
all businesses with assets worth more than $500,000 to be 51
percent black-owned within five years, according to a copy of
the law distributed by Harare-based Veritas Trust.
South Africa Struggles to Boost Jobs as Unemployment Rate Reaches 24.3% South Africa’s unemployment rate, the
highest of 62 countries tracked by Bloomberg, was little changed
in the fourth quarter, as the economy struggled to create jobs
after emerging from its first recession in 17 years.
Transnet of South Africa Lists a $2 Billion Bond Program on London Bourse Transnet Ltd., a South African state-
owned transport company, plans to sell $2 billion of
international debt to help fund infrastructure spending.
Uganda to Build a 500 Megawatt Hydropower Plant at a Cost of $1.3 Billion Uganda said it will finance the
construction of a $1.3 billion hydropower plant itself after
attempts to attract investors to the project failed.
Ghana Says That its `Not Blocking' Exxon on Sale of Kosmos Oil Assets Ghana, the West African nation set to
begin producing oil for export in late 2010, is “not blocking”
Exxon Mobil Corp.’s bid to buy Kosmos Energy LLC’s stake in the
Jubilee field, Energy Minister Joe Oteng-Adjei said.
South African Stocks Rise Most in Three Months, Led by Anglo, Aveng, Sasol South Africa’s FTSE/JSE Africa All
Share Index jumped the most since Nov. 23, gaining 413.14, or
1.6 percent, to 26,455.1 in Johannesburg.
Ivory Coast's Sole Oil Refinery in Talks With Lenders to Raise Financing Société Ivoirienne de Raffinage,
Ivory Coast’s only oil refinery, is in talks with domestic and
international banks to plug a 50 billion-CFA-franc ($104.9
million) deficit and keep the facility operating.
Nedbank Didn't Do `Anything Wrong' Hedging Acc-Ross Trades, Kruger Says Nedbank Group Ltd., the South African
bank being sued by investors for share trades in Acc-Ross
Holdings Ltd., didn’t do “anything wrong” when dealing in the
real estate company’s stock, Errol Kruger, the nation’s banking
regulator, said.
South African Construction Stocks Rating Upgraded to `Neutral' at JPMorgan South African construction stocks
were raised to “neutral” from “underweight” at JPMorgan
Chase & Co., which cited “compelling” valuations.
Sub-Sahara Africa Stocks: First Bank, Kenya Airways, Wema Bank Are Active The Nigerian Stock Exchange All-Share
Index added 0.6 percent to 23,010.97 in the third hour of
trading in Lagos, Bloomberg data show.
Nigerian Vice President Jonathan Voted Acting Leader Amid Yar'Adua Absence Nigeria Vice President Goodluck
Jonathan agreed to act as leader of the west African nation
after parliament passed a motion approving his taking on the
role pending the return of ailing President Umaru Yar’Adua from
Saudi Arabia.
Somali Pirates Say India-Operated Ship Freed for $3.1 Million, AFP Reports Somali pirates said an Indian-
operated ship and its crew of 26 were freed for payment of a
$3.1 million ransom, Agence France-Presse reported.
United Nations Says 8,000 Women Raped in Congo's Kivu Provinces Last Year More than 8,000 cases of rape were
reported last year in the Democratic Republic of Congo’s eastern
Kivu provinces, where government forces are battling rebel
fighters, the United Nations humanitarian agency said.
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