Zain Nigeria, Fifth Name Change

Published on 12th August 2008

Reborn frontline mobile operator, Zain, formerly Celtel Nigeria, has been in a major brand spin. It has resulted in a five-time name change since it’s first entry into the West African country. However, Chief Executive Officer, Mr. Bayo Ligali of Zain Nigeria, says the re-birth is meant to harmonize the company’s global brand name, Zain. The mobile service provider company operates in 14 countries in Africa with15 million subscribers in Nigeria.

International  Banana Conference to Take Place In Kenya

The conference will take place from 5-9 October, 2008, in Mombasa, Kenya. This conference will focus on banana and plantain research across Africa: lessons learnt and the way forward. Fostering international partnerships is a major objective of the conference, with particular emphasis to establish the role of research in promoting future commercial activities and trade in banana, plantain and ensete. There is an urgent need to target basic and applied research that connects to existing and emerging markets. This unique conference will be the first pan-African meeting to link research to markets in an African context.


Anglo Gold leads South Africa stocks lower as dollar climbs

Anglo Gold Ashanti, the world's number three gold producer, fell more than 9 percent on Tuesday as commodity stocks tumbled on worries about a slowing global economy, which sent the dollar to six-month highs. The dollar's surge prompted investors to dump key commodities, traders said, as commodities often move in contrary directions to the dollar as an inflation hedge. Oil fell around $1 a barrel, gold tumbled to its weakest in almost eight months, while platinum and silver also dropped to their lowest level since December weakening global stock markets. "The U.S. dollar is stronger and there is a big sell off of commodities," Garth Mackenzie at BoE Private Clients said. AngloGold led gold stocks lower with a 7.74 percent fall to 200.68 rand, while Anglo Platinum, the world's top producer of the metal, fell 3.68 percent to 917 rand.


New Bird Flu Strain Detected in Nigeria

A strain of Highly Pathogenic Avian Influenza previously not recorded  in Saharan Africa has been detected in Nigeria for the first time, FAO said today. Nigeria has recently reported two new Highly Pathogenic Avian Influenza outbreaks in the states of Katsina and Kano. Laboratory results from Nigeria and FAO reference laboratory in Italy show that the newly discovered virus strain is genetically different from the strains that circulated in Nigeria during earlier outbreaks in 2006 and 2007. The new strain has never been reported before in Africa; it is more similar to strains previously identified in Europe (Italy), Asia (Afghanistan) and the Middle East (Iran) in 2007
"The detection of a new avian influenza virus strain in Africa raises serious concerns as it remains unknown how this strain has been introduced to the continent," warned Scott Newman, International Wildlife Coordinator of FAO's Animal Health Service.

Search for Oil in Kenya Intensifies

The search for oil in Kenya has been intensified after an oil exploration company was granted more time to work on site in Lamu, Kenya’s coastal town. The Energy ministry granted Origin Energy (Kenya) Limited another six months to explore blocks L8 and L9 in the offshore Lamu Basin. The extension of the search underscores the need for more African countries to create their own oil resource that can sustain the country’s energy needs.

A Deal on Dispute in Sudan

The North and South Sudan have agreed on a deal over the disputed oil-rich region of Abyei. The two sides have agreed on an interim administration. Arop Moyak, a southerner from Sudan's People Liberation Movement, will be chief administrator of Abyei, while Rahama Abdel Rahman al-Nour of the northern National Congress Party will be his deputy. Fighting between northern and southern troops drove 50,000 people from their homes in the region early this year. Many feared the violence would re-ignite the bloody civil war that ended in 2005 with a peace deal. The appointments come after years of deadlock.

Ecobank Buys into Farmer’s Friendly Bank

African banking group Ecobank has bought 90 percent of Banque Agricole Et Commerciale Du Burkina (BAC-B), from Burkina Faso at a $19.77 million deal. BAC-B, founded in 1980 extends $69 million a year in credits to the country's farming sector, mainly to finance cotton cultivation. Burkina Faso is West Africa's top cotton producer. Ecobank Transnational Incorporated is one of Africa's fastest growing banking groups, with stock market listings in Nigeria and also operating in Kenya

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