Four central African countries have agreed to have free movement of state workers, diplomats and economic actors on business from one country to another without visa in the first step towards the creation of a six-nation free trade block. Ministers from the Central Africa Economic and Monetary Community representing Cameroon, Central African Republic, Chad and Republic of Congo signed the initial agreement.

Cost of Electricity to Rise

The cost of electricity in Kenya is likely to go up by more than 73 per cent if the government accepts recommendation by Fichtner, a consulting firm it hired last year to study power tariffs.  Kenyans enjoy such a high subsidiary amounting to more than 40 per cent of the true cost of a unit of electricity and this is hurting the country’s ability to secure its future energy supplies.  

Sudan’s Economy to Grow by 10 per cent

Sudan’s economy should grow by 10 per cent in 2007 despite international sanctions. Al-Zubeir Ahmed al –Hassan the finance minister said that economic growth reached 9.3% last year despite stringent US financial sanctions and pressure from the European Union. However delays in aid flows are hampering efforts to cement peace deals in the fractured nation. 

Discrepancy over Corruption in Companies

There is a large discrepancy between the perceptions of corruption and what companies actually experience, according to a study commissioned by Business against Crime in South Africa. The study, which concentrated on bribes, showed that bribes were offered in 11.5 per cent of the companies surveyed. However, 74 per cent of participants believed that corruption was taking place. According to Public Service Minister, Geraldine Fraser-Moleketi, this was attributed to poor ethical cultures.

International Property Rights Index

The 2007 Report International Property Rights Index (IPRI) is the first international comparative study that measures the significance of both physical and intellectual property rights in the growth of economies. It characterizes one of the first attempts to devise and launch an international gauge that ranks the strength and effectiveness of protecting property.

The report, which analyses the Legal and Political Environment, Physical Property Rights, and Intellectual Property Rights in 70 countries, shows an 89 per cent correlation between GDP per capita and IPRI score for each country. Countries in the higher ranking of IPRI are primarily advanced economies which include Western Europe (Scandinavia) and North America while Africa, Latin America and Central European nations show a weak performance in respect to property rights.

The 5^th Eastern Africa Media Training 

Over 30 journalists from Kenya, Tanzania, Uganda, Ethiopia and Rwanda converged at the Pan Afric Hotel for the 5^th Eastern Africa Media Training (March 14-16) on Turning Africa People into a Resource. The three-day event, organized by the Inter Region Economic Network (IREN), will include a tour to KARI Research Centre in Thika on the first day with an objective of identifying appropriate horticultural crop production technologies that can increase farmers’ income. The second and third day will mainly feature lectures and workshops.