The United States Congress has allowed Kenyan exporters to market peas, corn and carrots to the lucrative US markets. The chairman of Fresh Produce Exporters Association of Kenya (FPEAK), Tiku Shah, while speaking during a cocktail hosted for agricultural experts from the United States Department of Agriculture and Health Inspectors Service in Kenya, said that Kenyan exporters were diversifying from the EU markets to the US and South East Asia due to competition from emerging exporters such as Morocco, Egypt, and Central America on EU markets.

Why Africa’s Slow Growth?

According to Challenges of African Growth; Opportunities, Constraints and Strategic Direction, a report by World Bank, Africa’s slow economic growth is due to low levels of investment and poor policies. “Investment in Africa yields less than half the return measured in growth terms than in other developing regions,” says the report.

Cancel Debts, Prof Wangari Maathai Tells Rich Nations

The 2004 Nobel Peace Prize winner, Prof. Wangari Maathai, said rich countries should write off the debts of poor countries. She blamed African leaders for diverting such funds into foreign accounts leaving a majority of the poor carrying the burden of servicing debts. “For many years, funds advanced to African countries by rich nations and financial institutions have not benefited the poor. The money has either been misused or was looted by corrupt and dictatorial leaders.”

Diamond Deal Signed

The diamond sales agreement between the Namibian government and diamond giant De Beers has been signed and extended to 2013. The Namibian diamond industry hopes that the revised deal will bring benefits to their businesses and Namibia's economic development. They anticipate that the level of turnover from the Namibian diamond beneficiation industry could reach up to N$2 billion by 2009.

Namibia and China Sign Deals

China is to give Namibia a N$30-million grant for projects, while an interest-free loan of N$30 million was also signed. President Pohamba has been actively promoting co-operation with China. According to agency reports, trade in the first 11 months of 2006 amounted to US$240 million (about N$1, 73 billion).