Guinea Bissau Foils Coup Attempt
Published on 25th November 2008
Soldiers attacked the residence of President João Bernardo Vieira of Guinea-Bissau in the early hours of Sunday in what appeared to be post-election instability, news agencies report. Reuters reported that Shola Omoregie, the United Nations Secretary-General's representative in Guinea-Bissau, said the president and his family had survived the attack but that "the situation is very serious." The agency quoted military chief General Batista Tagme Na Wai as saying five attackers had been arrested, "and the situation is under control.” Election officials announced on Friday that the former ruling party, PAIGC (the African Party for the Independence of Guinea and Cape Verde, founded by Amílcar Cabral), had won parliamentary elections held on November 16.
Namibian Government to Set Up State Mining Company
Namibia Government will set up a company to reap the benefits of the local mining sector, Mines and Energy Minister Erkki Nghimtina said in Parliament last week according to the Namibian.” It is time that we as Government participate in the mineral sector and for this reason I requested Cabinet that a State company be established.” According to him, the new enterprise has already been registered with the Ministry of Trade and Industry.” The management soon will be constituted."Nghimtina was replying to a debate on an amendment to the Minerals Act he tabled recently. It will provide for a royalty to be imposed on all minerals extracted in Namibia. Currently royalties are only levied on precious stones like diamonds and dimension stone such as marble, sodalith and granite, and are between 3 per cent and 5 per cent. Mining companies already pay higher corporate taxes (37, 5 per cent) than those not involved in mining, which pay 35 per cent. The proposed amendments will bring to an end the sale and export of mineral resources without royalties paid to the State, according to Nghimtina.
Uganda: Museveni Stops Sale of Forests
The New Vision reported that President Yoweri Museveni has stopped the leasing of chunks of forest reserves to individuals to plant trees. The individuals, Museveni said, had abused the reserves by cutting down trees and mining sand. The President cited forests on Mityana Road, which he said had been sold to people including public servants. In a communication to the environment ministry, Museveni accused officials of NFA, the organisation which manages forests, of selling the land cheaply. Describing them as criminals, the President said the culprits should be punished. In the paper entitled, Mismanagement of forests by the National Forestry Authority (NFA), Museveni said the policy of selling or leasing forest reserves had not been decided by the Cabinet.
West Africa's Largest Bank Expands Network in Eastern Africa Region
After setting up shop in Uganda and Tanzania and the Kenya licence not too far off, West Africa's largest bank, United Bank for Africa (UBA) is looking to increase its footprint in East Africa by expanding to Rwanda and Burundi as reported by East African Business Week.” Yes we are looking at Rwanda and Burundi as well. At the moment, we are analysing those two economies," Mr. Rashid, the executive director of the Africa operations said. This expansion stance is part of a larger agenda by the Nigeria-based bank to open up shop in 25 African countries. Just over a year ago, UBA could only talk of its large Nigerian operation but has since expanded to 13 other African countries. In East Africa, UBA has already acquired licences and is operational in Uganda and Tanzania while the Kenya licence should be in the bag sooner rather than later.
Namibian Government to Set Up State Mining Company
Namibia Government will set up a company to reap the benefits of the local mining sector, Mines and Energy Minister Erkki Nghimtina said in Parliament last week according to the Namibian.” It is time that we as Government participate in the mineral sector and for this reason I requested Cabinet that a State company be established.” According to him, the new enterprise has already been registered with the Ministry of Trade and Industry.” The management soon will be constituted."Nghimtina was replying to a debate on an amendment to the Minerals Act he tabled recently. It will provide for a royalty to be imposed on all minerals extracted in Namibia. Currently royalties are only levied on precious stones like diamonds and dimension stone such as marble, sodalith and granite, and are between 3 per cent and 5 per cent. Mining companies already pay higher corporate taxes (37, 5 per cent) than those not involved in mining, which pay 35 per cent. The proposed amendments will bring to an end the sale and export of mineral resources without royalties paid to the State, according to Nghimtina.
Uganda: Museveni Stops Sale of Forests
The New Vision reported that President Yoweri Museveni has stopped the leasing of chunks of forest reserves to individuals to plant trees. The individuals, Museveni said, had abused the reserves by cutting down trees and mining sand. The President cited forests on Mityana Road, which he said had been sold to people including public servants. In a communication to the environment ministry, Museveni accused officials of NFA, the organisation which manages forests, of selling the land cheaply. Describing them as criminals, the President said the culprits should be punished. In the paper entitled, Mismanagement of forests by the National Forestry Authority (NFA), Museveni said the policy of selling or leasing forest reserves had not been decided by the Cabinet.
West Africa's Largest Bank Expands Network in Eastern Africa Region
After setting up shop in Uganda and Tanzania and the Kenya licence not too far off, West Africa's largest bank, United Bank for Africa (UBA) is looking to increase its footprint in East Africa by expanding to Rwanda and Burundi as reported by East African Business Week.” Yes we are looking at Rwanda and Burundi as well. At the moment, we are analysing those two economies," Mr. Rashid, the executive director of the Africa operations said. This expansion stance is part of a larger agenda by the Nigeria-based bank to open up shop in 25 African countries. Just over a year ago, UBA could only talk of its large Nigerian operation but has since expanded to 13 other African countries. In East Africa, UBA has already acquired licences and is operational in Uganda and Tanzania while the Kenya licence should be in the bag sooner rather than later.