Search Results for: Mozambique

BY KEITH NUTHALL

EUROPEAN Union (EU) ministers have been asked to approve an increase in the exploitation by EU ships of the rich tuna stocks surrounding Indian Ocean island archipelago the Seychelles. EU fishing businesses will have to pay for the privilege however: whilst the general limit on EU tonnage accessing Seychelles waters should rise from 55,000 to 63,000 tonnes, the money paid by vessel operators will rise from Euro 25 to 35 per tonne per annum, which would – said a note from the European Commission – bring fees in line with other EU tuna access agreements.…

BY KEITH NUTHALL

"TEA is known to be good for you, now it is also getting better for the environment:" so said UN Environment Programme (UNEP) executive director Achim Steiner, when launching renewable power initiatives in east Africa. UNEP is coordinating two Global Environment Facility (GEF)-financed projects greening tea production in the region, where it is a pivotal industry.…

BY KEITH NUTHALL
EUROPEAN Union (EU) fishermen will be able to harvest 10,000 tonnes of tuna and related species from Mozambique Indian Ocean waters from this year to 2012, under a new agreement negotiated by the European Commission. This new fisheries partnership agreement, replaces an agreement spanning 2004-6, assuming it is rubber stamped by EU ministers.…

BY KEITH NUTHALL

THE WORLD Bank’s Multilateral Investment Guarantee Agency (MIGA) has guaranteed US$22.8 million’s investment from Mauritius Commercial Bank Ltd to rehabilitate Mozambique’s largest sugar estate, run by the Companhia de Sena, in Marromeu district.

ENDS…

BY KEITH NUTHALL

THERE is a large and growing list of regional money laundering organisations, with formal or informal links with the Financial Action Task Force (FATF), so a question mark could hang over why the Commonwealth is getting involved in fighting dirty money.…

BY STEVEN SWINDELLS, in Johannesburg

AFRICA’S tobacco leaf producers are facing troubled times.

Instead of capitalising on crop and currency woes in rival Brazil, too many producers across the world’s poorest continent are battling drought and low selling prices.

Brazil’s problems should have opened a door of opportunity for leading African producers to claim back at least part of the world leaf market lost to south American and other producers when Zimbabwe’s crop collapsed amid the violent seizure of white-owned farm land.…

BY STEVEN SWINDELLS, in Johannesburg

THE FORTEEN countries of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) have their AML/CFT work cut out. Under-funded, lacking resources, short of political will and working in a region that leaks money like a sieve…it is a demanding context for the group’s daunting tasks.…

BY KEITH NUTHALL

THE MULTILATERAL Investment Guarantee Agency, or MIGA, is the international organisation companies turn to when they want to invest in a jurisdiction where their assets might not be that safe. Oil and gas companies have long used MIGA to cover risks that are too tasty for the private insurance industry, and at December 2005, MIGA had supported 13 oil and gas projects, with guarantees totalling US$707 million, with a standard leverage of five-to-one, so investments covered are actually five times larger.…

BY KEITH NUTHALL

THE MULTILATERAL Investment Guarantee Agency, or MIGA, is the international organisation companies turn to when they want to invest in a jurisdiction where their assets might not be that safe. Non-ferrous metal miners and processors use MIGA to cover risks that are too tough for the private insurance industry.…

BY KEITH NUTHALL

ECONOMIC growth, especially in emerging markets, is forcing international food businesses to take a closer look at opportunities in potentially unstable countries, and the global aid community is keen to help. One international institution is well positioned, especially given the increasing demand for development projects to be largely private financed: the Multilateral Investment Guarantee Agency, or MIGA, of the World Bank.…