Policy issues from South Africa and its neighbours. Reports every two weeks.

v20/25 16 December 05

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CONTENTS

Region:

Mbeki's rhetoric masks impact of SA capital in Uganda   

 

Region:

Stock market pulls in Southern African investment   

 

Region:

Development Bank boosts infrastructure projects   

 

International:

Lisbon aims to become China's 'partner in Africa'   

 

Congo:

Constitutional referendum is a first test for the transition   

 

Region:

More pressure on Burundi's FNL   


Region:

Mbeki’s rhetoric masks impact of SA capital in Uganda

[© SouthScan v20/25 16 Dec 05] SA President Thabo Mbeki ended an official visit to Uganda this week on a high note, emphasising the surge in economic relations and a common strategic purpose on the continent. But his eulogising of President Yoweri Museveni has come amid rising resentment at Museveni’s perceived dictatorial tendencies and less willingness in Uganda to blame present ills on colonialism, Mbeki’s constant theme.

Indeed, after he made his familiar pan African address to parliament, liberally laced with  quotes from Franz Fanon and straining for parallels between the founding of the Dutch colony at the Cape and British colonialism in Uganda. However, MP Cecilia Ogwal asked him instead to “teach [Museveni] how to nurture the culture of peaceful handover of power”. ...

Mamdani’s criticism ...

Business surge .... >>> Full report


 

Region:

Stock market pulls in Southern African investment

[© SouthScan v20/25 16 Dec 05] Financial experts from Southern Africa are expanding the seven-year-old Ugandan stock market to pull in thousands of local investors.  The Uganda Stock Exchange (USE), with seven listed companies and 11 government bonds, now tops US$2 billion. Compared to the 50-year-old Kenyan stock market with 48 firms and 30 bonds, valued at $3bn, its growth has been astronomical, highlighted in the September USE quarterly bulletin that showed the USE share index rising from 640.53 in July 2005 to 754.29.

Its vibrancy rests in part on South African expertise. Africa Alliance, a SA firm, has within a year enabled 5,000 investors to enter through its unit trusts, the only firm to offer such products. This brings the total number of investors to 15,000.  Zimbabwe-based Renaissance Capital, which joined the fray in mid 2005, plans to set up a merchant bank as part of its financial services. ...

>>> Full report


 

 

Region:

Development Bank boosts infrastructure projects

[© SouthScan v20/25 16 Dec 05] The Development Bank of Southern Africa (DBSA) has approved R2.4 billion in loan funding for infrastructure projects in the last six months.

These included a shipping project between the major Lake Victoria ports in Tanzania, Kenya and Uganda for which the bank gave US$8m, and a US$10m line of credit and equity participation for the Development Bank of Zambia. ...

>>> Full report


International:

Lisbon aims to become China’s ‘partner in Africa’

[© SouthScan v20/25 16 Dec 05] Portugal is the first of the former colonial powers in Africa to position itself alongside China as that country expands on the continent. In a statement last Saturday the Portuguese prime minister said his country would be “China’s partner in Africa”.

The move may herald similar attempts by other European countries to act as mediators between Chinese interests and African countries where they have influence. The US feels most disquiet  at what analysts there believe is China’s spoiling role. ...

Trade doubles ....

Lisbon’s offer ....

US concerns ....

Mugabe’s Eastern policy ...

>>> Full report


 

Congo:

Constitutional referendum is a first test for the transition

[© SouthScan v20/25 16 Dec 05] Much hangs on the DR Congo's constitutional referendum scheduled for Sunday and Monday (December 18 and 19). It is being seen as the acid test for the entire transition process, and for the wider process of stabilization in the Central African region.

The operation should show whether or not elections can take place in this huge country despite logistical obstacles such as problems of transport, bad roads and pockets of insecurity, say analysts. ...

Registration for IDs ...

Kinshasa situation ...

>>> Full report


 

Region:

More pressure on Burundi’s FNL

[© SouthScan v20/25 16 Dec 05] The Forces Nationales de Liberation (FNL) guerillas are under increasing pressure as plans move ahead for the joint Great Lakes countries force to counter ‘negative forces’ in the region (SouthScan v20/24).

Burundi’s President Pierre Nkurunziza is planning to discuss with the anticipated Tanzanian President Jakaya Kikwete (after the elections there this week) and with the Congolese head of state Joseph Kabila, projects to form the unit with soldiers from the three countries and Ugandan and Rwandan troops. ...

>>> Full report