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.
Zimbabwe Drafts an Energy Bill and Offers Tax Breaks for Power Plants Zimbabwe is drafting an energy bill
to restore its power and fuel industry with private sector help,
and said it will offer tax breaks to investors in large
electricity projects.
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.
Rand Advances Against Dollar for a Second Day as Precious Metals Increase South Africa’s rand gained for a
second day against the dollar as gold and platinum prices
advanced, boosting the earnings outlook for the world’s biggest
producer of precious metals.
First Quantum Halts Processing at Zambian Mine Because of Power Disruption First Quantum Minerals Ltd., a
producer of copper in Zambia, said disruptions to the supply of
power to its Kansanshi copper mine in Zambia forced a processing
plant to close.
Exxaro Could Produce 1,800 Megawatts of Coal-Fired Electricity by 2016 Exxaro Resources Ltd., a South
African coal producer, said it could generate 1,800 megawatts of
electricity at a plant in the country’s north by 2016 as it
becomes a power generator.
Kenya Electricity Signs $1.3 Billion Geothermal Deal With Sinclair Knight Kenya Electricity Generating Co., the
East African nation’s biggest power producer, signed a contract
worth more than $1.3 billion for Sinclair Knight Merz Pty Ltd.
to be consultants for the construction of facilities to provide
280 megawatts of geothermal power from underground hot springs.
Trafigura Plans to Purchase Quarter of Copper Produced in Zambia This Year Trafigura Beheer BV, an energy and
commodities trader, plans to buy 25 percent of the copper
produced in Zambia this year, Pierre Lorinet, a director of the
Amsterdam-based company, told reporters today in Lusaka, the
Zambian capital.
Nigerian Vice President Jonathan Voted Acting Leader Amid Yar'Adua Absence Nigeria’s parliament passed a motion
that Vice President Goodluck Jonathan should act as leader of
the West African nation 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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