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Interview Djama Mahamoud Haid, Governor of the Central Bank of Djibouti

Interview at the Inauguration of the new headquarters of the ACC Bank

I first want to thank the President of the Republic, Mr. Ismail Omar Guelleh, for his presence at the ceremony official opening of the new headquarters of the International Bank CAC Djibouti. Your presence here today and your continued support to development and modernization of the banking sector, reflect the clear intention of your government to make Republic of Djibouti a financial center with a regional focus. I also welcome the presence of all the personalities and players in the country's economic development. Today we celebrate with pomp the installation of the Cooperative and Agricultural Credit Bank International, which is now seven the number of credit institutions operating in our country.

Some of my fellow citizens and other economic interest me regularly on the high number of banks currently operating in the financial center of Djibouti. They are assured, a whole section of the Djiboutian population does not benefit yet the benefits of increased financial intermediation and the penetration of banking services remains relatively low in general and especially in inland regions.

All banks, old and new, perform during the last years of significant performance. The long-established banks (BIS and BCI) continued to enjoy a satisfactory situation: the total of their deposits and their lending has respectively increased by 10.2% and 20 2% at end September 2009 compared to the end of 2008. For their part, the new banks already capture Up to 10% market share after only 2 or 3 years of operation. These have collected about $ 13 billion of deposits and EOD have granted facilities to the tune of 4 billion FDJ. Deposits in new banks grew by 25.4% over the last nine months while their funding has increased substantially over the same period (220.8%). For example, deposits of Salaam African Bank has surpassed the 1.7 billion FDJ after only 10 months of activity.

The arrival of the bank subsidiary of the ACC Bank in Sana'a will help further transform the banking landscape in the making more competitive by introducing a wider range of financial products and services. Increased competition and the introduction of new banking services are pledges for greater customer satisfaction Djibouti. Established since 1982

Yemen, the ACC Bank in recent years outstanding performance both in terms of growth in customer deposits as of total assets (43.4% in one year). Tangible sign of its growth, the ACC Bank has consolidated over 41% of its equity over the period 2007-2008. CAC Bank, whose activities are mainly focused in the primary sector, retail trade and finance SMEs, is expected to play a leading role to support the expected growth in certain priority sectors of our economy, especially agriculture and fishing. In an international context marked by the bleak financial crisis and uncertainty, the installation of a new operator in the banking sector confirms, if necessary, the resilience of our economy and medium-term macroeconomic outlook encouraging. The economic and financial performance of Djibouti have improved considerably in 2008 and 2009, despite inflationary pressures globally. The real GDP growth accelerated 5.1% in 2007 to 5.9% in 2008 and inure forecast at over 5% in 2009, driven mainly by foreign direct investment. The share of investment in GDP has indeed increased from 23% in 2005 to nearly 47% in 2008. Fiscal policy remained expansionary due to higher public investment in priority social areas (education, health, water) and infrastructure. The balance on order basis in 2008 recorded a surplus equivalent to 1.3% of GDP. The banking sector has undergone significant developments with an annual growth of broad money 9.6% in 2007 and nearly 20% in 2008. The private sector credit increased by 23% in 2007 and over 27% in 2008 mainly due to booming consumer spending, the upturn in the construction sector and public investment.

growth prospects over the medium term of Djibouti's economy remain strong, driven by major investment projects and the role of banks in financing the economy. Under the new PRGF program concluded in October 2008 with the IMF, the baseline scenario projects a real GDP growth of about 6.3% per annum over the period 2010-2014. The level of inflation should be maintained around 4% and control the budget deficit -0.5% of GDP over the same period. The banking sector should strengthen its role in financing private investment. Lending to the economy should grow by more than 20% annually over the next five years. To preserve macroeconomic stability, our country has continued to implement structural reforms while ensuring adapt to changes in economic conditions and prospects for socio-economic.

Recent measures initiated by the government 's essentially articulate around improving the country's external competitiveness and business climate, the revised investment code and the development of new commercial code are the clearest examples. Other reforms include the introduction of VAT and the increasing diversification of our economy.

regard to reforms of the financial sector, a program of financial sector assessment was conducted in late 2008, at our request, by experts from the IMF and World Bank. Overall, resistance tests conducted under this program have shown that the financial sector is robust and Djibouti is not exposed immediate threat to a routine. In recent months, the emphasis was placed on the bank ability of the population and access to financial services relatively low in Djibouti. The adoption of the circular No. 27 enacted by the President of the Republic February 14, 2009 and instructed the Central Bank of Djibouti has instituted the "right to account" for any natural or legal person established in Republic of Djibouti, without a bank account and possessing a regular income in an amount greater than or equal to 40 000 EOD. I wish to solemnly thank the president for enacting the circular to promote banking services for Djibouti, because it is an essential element of reconciliation between the people of Djibouti with low incomes and banks instead.

This tends to raise the rate of bank initially affected all state employees and then be extended to employees of public institutions and the private sector. Spurred on by this measure, the total number of banking customers grew by 40,541 in late December 2008 to nearly 53,332 customers in late September 2009, an increase of more than 12,700 customers in just nine months.

Alongside this policy of banking services, and in accordance with the national initiative for social development, national authorities have focused on the development of microfinance, a major tool to fight against poverty and social exclusion. Two organizations co-operative and mutualist (CPEC and CNEC) have been recently created and now comprise nearly 6,400 members. These two entities have so far been able to collect more than 132 million FDJ deposits while loans distributed are around 250 million FDJ in October 2009.

To complement the range of financial products and services offered to clients and mentor new banks, the central bank is developing a regulatory framework specific to the development of Islamic finance. Little known actor of global finance, a few years ago, Islamic finance is now experiencing rapid growth and is an alternative to conventional activities to better meet the expectations of a customer who does not yet have offers tailored to their religious beliefs.

I could not conclude my statement without expressing my thanks and my congratulations to the Board of Directors and staff of ACC Bank International Djibouti. I wish every success to officers and employees This new banking institution.

Source

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Third Meeting Ministers responsible for infrastructure Comesa

Adoption of a joint statement

Ministers responsible for infrastructure of member states of the Common Market for Eastern and Southern Africa (Comesa) have, after their work , adopted last Wednesday a joint statement mainly devoted to the development of infrastructure projects to enable a more efficient flow of goods, people and information across the region.

Participants at the third ministerial meeting on transport, technology information and communication and energy have pledged to fill the backlog in infrastructure in the COMESA area. Aware that the lack of transport facilities, power distribution and communication technology and reliable is a major obstacle to regional economic integration, delegates from member countries of COMESA have therefore decided to "work together to accelerate development infrastructure and regional services in the transportation, communications, information and energy. "

is in this sense that a number of projects and programs will be implemented before the end of 2010 "to inject new and continuing momentum in the development process of the Common Market for Eastern and Southern Africa. The final declaration adopted by the Ministers responsible for Infrastructure, transport, information technology and communication and energy, and heads of delegations of member states of COMESA, ended their third meeting held in Djibouti on 28 and October 29, 2009, includes several components. The ministers paid special attention on solving the supply-side constraints especially regarding the development of new infrastructure and reducing delays in maintenance of infrastructure to improve the competitiveness of goods and services in regional and international markets

With that, they have recognized the need for regional strategies for transport, communication and power to reduce business costs and bottlenecks that raise regional infrastructure and inadequate or poor quality, but which are essential for promoting regional integration, socio-economic and poverty reduction such as state Goals Millennium Development Goals (MDGs). Another point which is of paramount importance is the development of New Technologies of Information and Communication (NTIC). The parties stressed that member states use the policy and technical guidelines prepared by COMESA to harmonize the ICT sector to promote the growth of this dynamic sector which is crucial for effective participation in the affairs of a globalized world .

Energy is a key sector which is of great importance to facilitate development in various sub-sectors such as industry, transport, communications and equipment in domestic service sectors. Thus the ministers called the region to increase the production capacity of electricity to facilitate the development of interconnection of power grids in the region and facilitate cross-border trade and regional electricity. In their joint statement, the signatories stressed the need to develop mechanisms for implementation to facilitate coordination, joint programming and resource mobilization for projects in the COMESA member states by grouping the corridors of transportation and communication with one country acting as leader, would like Consequently greater ownership and better coordination. To improve the quality of transport, the parties requested that it be implemented by groups of several corridors facilitating projects with COMESA Yellow Card, the transport license, the license plates of COMESA, a system of limited axle load control and overload ... etc..

condemnation of acts of piracy. The ministers responsible for infrastructure of member states of the Common Market for Eastern and Southern Africa (Comesa) have, after their work completed last Wednesday, strongly condemned and denounced the piracy threat and immediately posed the acts of maritime piracy. This sentence is contained in a joint statement issued after their meeting.

Ministers agreed that these acts constitute a serious threat to peace and security as well as regional and international development efforts of member states of COMESA. The ministers also appealed to COMESA member states that have signed and ratified the Code of Conduct Djibouti remains an indispensable instrument for the eradication of piracy in the Gulf of Aden and off Somalia. In this joint statement, they asked the community International to provide support and contribution to achieving all the objectives defined in the Code of Conduct Djibouti including the regional training center.

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Djibouti: 3rd Conference of Ministers responsible for infrastructure COMESA

The 3rd conference of ministers responsible for infrastructure (Transport, Communication, Energy) member countries of the Common Market for Eastern and Southern Africa (COMESA), opened yesterday at the Hotel Kempinski Palace of Djibouti City. The opening ceremony of the conference was chaired by the Prime Minister of Djibouti, Mr Mohamed Dileita Dileita, in the presence of Secretary General of the organization, Sindiso Ngwenya, and a dozen ministers and deputy ministers of member countries of the regional space.

This two-day conference aims to initiate a debate among the COMESA member states on ways and means to implement in the future adequate physical infrastructure in the areas of Transport, Energy and telecommunications within the area of intra-COMESA countries to facilitate their eventual economic integration and improve their trade. The ministers in charge of infrastructure in the COMESA countries will examine topics such as the review report of the 5th meeting of the Technology information, or review the final report on the study of the scope of the priority projects of infrastructure in COMESA.

Also on the menu for this conference, other issues such as the proposal of a measure establishing an integrated network security internet within COMESA and the review of a study on harmonization of limits overloading of trucks to prevent the degradation of roads.

In his inaugural speech, Prime Minister of Djibouti said that "since the launch of its free trade zone, the region experienced a significant growth in intra-COMESA trade facilitating economic and social integration in accordance with the Abuja Treaty. "" The success of the free trade area, customs union and economic integration, will depend largely on the ability of our transport infrastructure, telecommunications and energy, "said the Prime Minister. In terms of investment in physical infrastructure,

Dileita Mohamed Dileita said it takes" allocate national funds, effective use of funds provided by our banks and our development partners, and encourage participation private capital to projects that yield interest to the private sector. "

Commenting on the railways, the Prime Minister explained that in this area" we need investment to renew and modernize our network of dating last century and they serve to broaden the region more effectively. "" In this regard, he said, Djibouti will work with other countries as part of a program to modernize rail networks, extend the railway to the Sudan and connect to other networks in East and Central Africa. " The Secretary General of COMESA, Sindiso Ngwenya said for his part, that "what appears to be insurmountable challenges can be seen as opportunities for development."

"In this regard, he insisted, we can learn from countries like China that have made the global economic crisis into an opportunity for stimulating economic growth through infrastructure investments that will trigger a virtuous circle of self-sustaining growth. "

He always, "The challenge is that we are moving towards deeper integration through the customs union and the proposed Free Trade Area Great encompassing COMESA, EAC and SADC. "" It is necessary for us to think outside the box and work on programs not only in the short term but to plan for 50 years from now, "he noted.

At the After discussion, scheduled for this Thursday, Oct. 29, organizers hope the final report to be adopted will contain a set of text along the lines of strengthening the sectors of transport, communication, energy and telecommunications in space of COMESA.

remember that COMESA is a vast economic market populated by 379 million people that includes two dozen countries in southern Africa and East, including Djibouti.

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Djibouti because of the transport chain backbone of its economy

Following its independence in 1977, Djibouti has opted for a service economy and put on rail projects to gradually develop its transport chain.

The choice of the Djibouti authorities to make the development of logistics as a national priority is that the country occupies a geostrategic incommensurable in the region of the Horn of Africa.

It gives it a role of advanced platform to serve as a transit center and redistribution at the regional and international levels.

Transportation is in Djibouti's main contribution to the formation of gross domestic product (GDP) with a rate of nearly 37% in 2007, according to a document recently released by the Ministry of Infrastructure and transport at interdepartmental meetings of COMESA.

The transportation sector is also an essential instrument of any strategy to reduce poverty in Djibouti since it is a source of jobs for about 10,000 people in a country where unemployment exceeds 60%.

The existence of ultra modern port facilities (port Doraleh), infrastructure Driving in very good condition and the geostrategic position of Djibouti, a crossroads of maritime routes, justify themselves, the fundamental role that keeps the logistics sector in the economy.

The ports are points focqaux animation activities including transportation Port Autonome International de Djibouti (PAID) and the port of Doraleh) and the Djibouti-Ethiopia corridor, itself closely linked to port activities.

In 2008, AID, managed since 2000 by DP World, has reached the highest performance in its history with more than 243,000 TEUs and nearly 9 million tons of goods handled.

As for road transport has increased significantly since the traffic from the Eritrean port of Assab, was diverted to Djibouti due to the conflict between Ethiopia and Eritrea.

The number of trucks has risen from 89,000 in 2000 to over 171,445 in 2008, of which 98% belong to the Ethiopians against only 2% of freight Djibouti.

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The AU calls on leaders to take responsibility Malagasy

The Chairman of the Commission of the African Union (AU), Jean Ping, has pitted Tuesday Malagasy political leaders, urging them to take responsibility, at the opening a meeting to leave the main island of the political crisis.

The current strong man of Madagascar Rajoelina, the ousted President Marc Ravalomanana in March and two former heads of state, Didier Ratsiraka and Albert Zafy, are attending the meeting at AU headquarters in Addis Ababa aimed at implementing a power-sharing during a period transition fixed at 15 months by the agreements signed in Maputo on August 9.

"The current situation in Madagascar is characterized by a quasi-general weariness felt legitimate in terms of population," recalled Mr. Ping the four leaders.

"The responsibility for each other, before history, is fully committed, and no special consideration, as legitimate as it was, could not argue before the unquestionable primacy of public interest," said he said.

"Is that Madagascar will emerge from the crisis?"

As the "oldest of the leaders of political movements in Madagascar," the former president gave a speech Zafy summarizing the inaugural issue of this meeting.

"The Malagasy people have suffered for more than seven months, hovering between hope and despair," he said before questioning: "Is that emerge from the Madagascar Crisis? If yes, then it's party. If not, then it is a bleak future ahead that we do not know the result. "

Mr. Ping stressed the need for leaders to accelerate the implementation of these agreements and the Transitional Charter, "which are well the instrument agreed to end the crisis peacefully, consensual and inclusive in Madagascar ".

agreements including Maputo designed the architecture of a political transition intended to lead the country in a presidential election by the end of 2010.

According to sources close to the mediation, the main obstacle to the implementation of agreements shall be the position of Mr Ravalomanana which "seeks to resume the negotiations and of allocating positions since beginning "and to" protect its economic interests "in the island.

Ravalomanana slows the four irons

Ravalomanana contests the allocation of posts of President, Vice-President and Prime Minister of transition, announced on October 6 in Antananarivo after a meeting between the four political groupings.

He recently hammered that it would accept "never appointment of a coup author (Rajoelina) to lead the transition. "

Abandoned by the army, Mr Ravalomanana had given its March 17 powers to a military board, which was immediately transferred to Rajoelina, the former mayor of Antananarivo, in a few months now his main opponent after a popular movement.

addition to designating the head of the transition, a consensus prime minister had been found in the person Eugene Mangalaza, the movement of Mr. Ratsiraka, replacing Monja Roindefo.

Rajoelina confirmed the appointment by decree, but Mr. Roindefo, Prime Minister dismissed, refused to leave the Prime despite the defection of his ministers.

Source

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Novartis acquires Vaccines Chinese Zhejiang Tianyuan for $ 125 million

The Swiss pharmaceutical group pursues its strategy in China. After announcing yesterday a $ 1 billion in the country's R & D, he bought 85% of private vaccine manufacturer Zhejiang Tianyuan Bio-Pharmaceutical. A transaction amounting to 125 million dollars (in cash). Novartis facilitates the penetration of its products on the third global vaccine market (over $ 1 billion in 2008), which is expected to soon grow to double digits. In China, its presence was previously limited to vaccines against influenza and rabies.

Came in 1994 on the vaccine market, Zhejiang Tianyuan owns a portfolio products against bacterial and viral diseases. The Chinese lab has developed such a vaccine against hemorrhagic fever with renal syndrome (HFRS). In 2008 he recorded a turnover of $ 25 million (doubled compared to 2006).

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China: World Bank expects 8.4% Growth in 2009

[04/11/09 - AFP]

The World Bank has revised upwards its growth forecast Wednesday for the 2009 China was 8.4%, against 7.2% estimated in June, while urging Beijing to continue on the road to rebalancing economy.

In its quarterly outlook, the organization said China was thus in the nails to reach its goal of 8% rise in its gross domestic product, the level considered necessary for maintaining employment levels in the Asian giant.

Despite the impact of the fall in exports "China's economy continues to grow robustly due to expansionary fiscal and monetary policies (Beijing). (...) investment in infrastructure was a key element but consumption has also been well maintained. More recently there has also been a resurgence of real estate, "noted the WB in its report.

However, the World Bank warned that a" successful rebalancing "of the economy is necessary for a sustainable recovery in the medium term.

"rebalancing and obtaining a higher growth of the national economy require more emphasis on consumption and services and less investment and industry, "said she.

Chinese growth rebounded to 8.9% in the third quarter, following 7.9% in the second and 6.1 % in the first - its lowest rate in over a decade.

Last year, China experienced an increase of 9% of its GDP.

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India: The government expects growth of 8% in 2010

[04/11/09 - AFP]

Economic growth in India will reach 8% next year and could go up 9% the following year with the global economic recovery, said Wednesday a government official.

The Indian economy, which experienced growth rate of 9% before the global financial crisis, is expected to grow 6.5% in 2009, said Montek Singh Ahluwalia, head Deputy Economic Planning Commission.

"This will be a year of economic slowdown because of the international situation but we have the growth rate second highest in the world (After China), "said Ahluwalia.

Ahluwalia, a close adviser to Prime Minister made the remarks at the annual conference of economic editors in New Delhi.

growth was also driven by the bottom, because of the driest season recorded in four decades, which affected agricultural production.

But the Committee Planning has estimated that if the rains persisted at normal levels next year, and if the international economy continues to recover, India would register a growth of 8% in 2010 and 9% the following year.

The government says India needs to achieve growth of at least 9% to reduce the overwhelming poverty of the country.

Ahluwalia's optimism was bolstered by expectations of the trade minister, Anand Sharma. He said that exports were declining during the last 12 months, should reverse the trend by the end of the current fiscal year.

indiennnes exports fell 13.8% in September to 13.6 billion dollars compared to the previous year. The decline in exports was however lower than that recorded in August (19.4%).

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The South African President Jacob Zuma met officials from RSA Reunion

Association (RSA Reunion / Association of South Africa) reports in a press meeting of its leaders - Christophe Rocheland, Chairman, and Richard Apavou, vice president - with South African President Jacob Zuma Monday, October 19, Johannesburg.

Apavou Richard, vice president of RSA, Jacob Zuma, President of the Republic of South Africa and Christophe Rocheland, president of the RSA.

"Managers Association Co Meeting / Africa South (RSA: Reunion / Association of South Africa) were received last Monday (October 19, 2009) in Johannesburg for an informal meeting with the President of the Republic of South Africa, Jacob Zuma, organized by the deputy Chief Mandla Mandela in the private residence of former South African President Nelson Mandela.

It was during a courtesy call made by South African President Nelson Mandela on Monday, October 19 last that those responsible for RSA, Christophe Rocheland, President, and Richard Apavou, Vice President of the Association, met with Jacob Zuma.

discussions between meetings and the Head of State of South Africa have focused on the long historical relations maintained by Reunion and South Africa of the Apartheid era and in particular the solidarity of Reunion against freedom fighters in South Africa. Another topic of discussion was the establishment of a South African Consulate in Reunion, file defended for over 5 years by the Association. The South African president has instructed the Deputy Mandla Mandela this issue by asking him to forward the process of creating the Consulate with the Minister of Foreign Affairs, Maite Nkoana-Mashabane.

The Association also advocates a strategic alliance at the highest level political and economic relations with the member of the G20, by its geographical location, represents an opportunity to better integrate ourselves into our regional block, in agreement with the political will expressed by the metropolitan authorities and Reunion. "

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Climate: the Africa is threatening to withdraw from negotiations

Africa agreed on Tuesday after 24 hours of negotiations, to resume negotiations on the future of the Kyoto Protocol, but remains concerned about the lack of progress in a month's conference Copenhagen and is still threatening to slam the door.

African delegates to the negotiations Barcelona, the last before the appointment in December (7-18), were suspended late Monday their participation in discussions, as industrialized countries did not predict quantified commitments to reduce their emissions of greenhouse gases , "at least 40%" in 2020 compared to 1990.

Africa has agreed to return to the negotiating table, while preventing "a failure to consider tomorrow the desired results lead us to suspend the talks" back, "said Ousman Jarju, delegate Gambia, on behalf of the African Group.

"The level of ambition of developed countries is unacceptable (...) We must consider the objectives and ambitious figures who, from an African perspective, would represent a reduction of 40% at least," he also insisted .

Africa very vulnerable

The continent, responsible for just 4% of global emissions of greenhouse gases, is among the regions of the world most vulnerable to climate change that will lead to it by an expansion of desertification, drought and severe water shortages and crop.

After surgery Tuesday of the Swedish presidency of the European Union and the driver of the negotiations on the Kyoto Protocol, John Ashe, a compromise was reached on the following discussions which conclude Friday in Barcelona.

Thus, "at least 60% of the time remaining negotiations will be devoted to discussions on the numbers" of industrialized countries' commitments under Kyoto, has assured Mr. Ashe to the resumption of the plenary conference.

A month before the Copenhagen conference and concluding a new climate agreement, Barcelona offered last five trading days, two of which are already flowing.

"We go round in circles"

Negotiations take place on two parallel tracks: one for countries that have ratified the Kyoto Protocol are required to renew their commitments beyond 2012 . The other is open to the 192 countries that signed the Convention and incorporates the United States, only industrialized country not to implement Kyoto.

"We never wanted to block the negotiations," confided to AFP Ibl Djibril, Delegate of Benin. "But turning around: there are three days of negotiations by the Copenhagen and we do not always know the intentions of the industrialized countries. Only the EU maintains a consistent language.

Europe aims to reduce its emissions by 20% in 2020, even 30% as part of a binding international agreement. It is the only one publicly announced its intentions in the context of a multilateral agreement.

To many observers in Barcelona, "Africa wanted to show his muscles at the approach of Copenhagen.

'C' was a fist on the table for industrialized countries put their commitments on the table. It came from Africa but it could have come from elsewhere: it was a little dramatic, "said one of them.

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mining contracts: the American Freeport on the spot in DR Congo

government renegotiates the terms of his contract with the U.S. Freeport mine. The outcome promises to be happier for the Canadian First Quantum, which suspended operations in September.

Partira? Go away? The fate of Freeport in the Democratic Republic of Congo (DRC) is not yet sealed. The U.S. mining group had until Oct. 12 to meet the demand of the authorities, but the deadline has passed and negotiations continue.

main shareholder with 57.75% stake in Tenke Fungurume Mining (TFM), the joint venture created to implement a massive project to exploit the copper and cobalt on a grant of 1 600 km2, between the towns of Tenke and Fungurume, Katanga, southern DRC, Freeport is asked to make an effort for that a larger share of profits back to the DR Congo.

public company, Gecamines currently holds 17.5% stake in TFM. That is not enough, according to the State. The latter does not merely propose an increase in share of Gecamines. An alternative solution is currently being discussed: the repayment to the company public of a "production bonus" kind of "royalty" levied on the mineral product, which could reach 2.5% of the cost.

The state requirements are part of the "review of mining contracts." Launched in June 2007, this initiative is about sixty agreements between Gecamines and mining companies - including multinational corporations - at a time when the state, weakened by war, was unable to defend its interests . A situation in which some partners do not hesitate to take advantage. At the time of reconstruction, DR Congo has sought to redress the balance. The contract with Freeport is the last to be the "reinterpretation".

prime investor in the country

Like its competitors, the group is resisting. "This contract was negotiated and signed in transparency in 2005, defends Margaret Rashidi Kabamba, the communications director. In addition, the company, which employs 2,300 workers, advance have already made $ 2 billion investment in TFM and paid in two years, 140 million dollars in taxes. What is not negligible being discussed, the 2010 budget is $ 5.3 billion. Arguments that leave hard cash Margaret Rashidi Kabamba optimistic: "We are the largest investor in the country, we must reach a win-win. "

government side, it displays the same serenity "We should reach an agreement before the end of October, announced Mikandji Alexis, Chief of Staff of the Minister of Mines, Martin Kabwelulu. There is no need to worry. "

To hear the end of history will not be the same as the First Quantum. In February 2008, the government submitted a list of conditions for the Canadian group's plant project in Kolwezi (Katanga). But, considering that he had not met, the authorities finally required the company to return its operating license. Was in August. First Quantum's reaction was not long in coming mid-September, the group announced that work was suspended and he had referred the matter to an international arbitration tribunal.

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Mauritian Ministers Sithanen Bheenick and plead for regional integration

Deputy Prime Minister and Minister of Finance and Economic Empowerment Rama Sithanen and the governor of the Bank of Mauritius (BoM) Rundheersingh Bheenick both pleaded for special attention to regional integration and trade, which can accelerate the economic recovery.

L regional integration has a key role to play in this regard, especially through a boost trade, supported by improved productivity and attracting foreign direct investment necessary to achieve a higher level of socio-economic development ", highlighted Rama Sithanen Thursday.

was during his opening speech at the 14th meeting of the Committee of Central Bank Governors of COMESA, at the Intercontinental Hotel at Balaclava. "We Need more trade, not aid", for his part said the Governor of the BoM.

"It is expected that volume of world trade in commodities and services falling by 12% in 2009, reflecting lower demand and lack of funding for trade. However, advocacy of G20 leaders to support the Doha Round of trade talks would not be the same in the coming months, given that trade remains low. Indeed, trade frictions are rising, especially between China and the United States, "said Rama Sithanen.

"Regarding our region, the situation remains challenging. After growing steadily for nearly a decade, is expected to slow the economy in Sub-Saharan Africa 1% in 2009 due to declining exports, "said the Great fundraiser.

Commenting on the role of the COMESA region, the Minister of Finance, Rama Sithanen should say "we welcome the launch of the COMESA Customs Union in June 2009 and anticipate the establishment of the COMESA Free Trade Area and SADC -ABC. We must maximize our benefits from regional integration. We must continue to work to reduce the remaining barriers, promoting Cross Border Investment and harmonize customs procedures and standards. "

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The Chinese appetite out the South African economy of the depressed

The international financial crisis has Beijing South Africa. Relations between the two countries were intensified during the first half of 2009. China is now the biggest customer of the Nation rainbow sky. A situation that is confirmed particularly in the mining sector.

When in late 2008, the European producers of iron began to reduce their control, most of the 4300 employees of the Sishen mine, which operates the ore in the Province of South African Northern Cape, were legitimately worried about their jobs. Ten months later, this anxiety is a distant memory.

During this period, an increase of 35% of the insatiable demand of Chinese industry has offset the decline of 50% of that of Europe, Japan and South Korea, victims of the shock of the recession. Leaders of Kumba Iron Ore, a subsidiary of Anglo American, which owns the mine, now considering its development.

For the trade unionist Eddie Majadibodu, spokesman for the miners, this new contrast sharply with the situation of a sector, gained over several months by the slump in the image of the platinum industry where thousands of jobs have been destroyed. "We were concerned, but the company is doing well now," he says.

largest importer of South African products

Kumba is not the only company to benefit from better relations between the South Africa and China. During the first half of 2009 while South African exports to Germany, Britain, Japan and the United States plunged, China has also increased its orders of chrome and other raw materials.

latest sign of intensified exchanges, Beijing is now the number one destination for South African exports. There another year, not the Middle Kingdom stood at fifth. This new status as the leading partner is also not unconnected with the growing interest from China for Africa. Industries such as textiles or electronics are all opportunities for the establishment of South Africa. (...)

Strong presence

According to bankers, Chinese investors should take in the coming months for investments in local mines especially those who like the under-capitalized junior suffered from the sharp drop in their orders last year.

"There are more and more surveys. We receive one to two potential investors a week, "said a banker in Johannesburg. More generally, communications and transport infrastructure make South Africa an attractive country to host the Chinese subsidiaries of groups operating in the region. One of the largest commercial recently opened an office in the city of Cape Town to support a project worth several million dollars in Angola.

For other observers, however, the relationship between the two countries will not grow as fast as one might believe. Some bankers point to the logistical problems and difficulties of Chinese companies to finance themselves outside their country.

In addition, China has already met with resistance both political and cultural impact on the continent. And there are great opportunities for that to happen again. Three years ago, former President Thabo Mbeki had warned against the character "colonialist" of this relationship while encouraging its government to impose temporarily in 2007 and 2008, quotas on imports of Chinese textiles. "They are not always welcomed open arms, "quips a banker.

In the short term, Beijing's dominance in the South African economy is expected to weaken with the restart of the European economy. But these links do peuvebnt only strengthen the long term.

Source: Financial Times and jeuneafrique.com

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Africa-India: Bill Gates offers $ 120 million for development

15/10/2009 Bill Gates is expected to announce on Thursday a donation of 120 million dollars to Africa and India. The funds will be allocated to development projects in food security.

The Microsoft founder and philanthropist Bill Gates will announce Thursday a donation of $ 120 million for the development of food security in Africa and India, according to a development organization beneficiary.

Bill Gates must be the announcement of this initiative in person on Thursday at a symposium for the World Food Prize in Des Moines (Iowa, center).

Several agricultural development projects, amounting to $ 120 million funded by the Gates Foundation, aimed at addressing the problem of food security in the long term, according development organization Alliance for a Green Revolution in Africa (AGRA), one of the recipient organizations.

15 million to AGRA

AGRA announced a scholarship of $ 15 million to support agricultural policy in five African countries: Ethiopia, Ghana, Mali, Mozambique and Tanzania .

According to the UN, one billion people hungry worldwide. Foundation, Bill Gates, the richest man in the world, has a budget of $ 3.8 billion for 2009 alone.

"Unlike Farmers around the world, African farmers, most of whom are women, receive literally no support from their governments ", said Kofi Annan, Chairman of AGRA and former Secretary General of the United Nations.

very diverse projects

Other projects funded by the Gates Foundation, according to information from the Deputy Director of Development Foundation, Roy Steiner for Kenya, Malawi, Zambia, Uganda and India.

They cover areas as diverse as research in vegetable crops (19 million), promotion of sweet potatoes, cereals diversification, development of a radio network for farmers and encouraging links between schools and markets. In India, the Gates Foundation will fund a water management project for the female population.

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