EYE ON COMESA ISSUE 20

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1 EYE ON COMESA ISSUE 20 FEBRUARY 2010 "COMESA RIA" sign MOUs with Jeddah, Bahrain, Sharjah and the Federation of UAE Chambers of Commerce to enhance economic partnership and investment. th th A Road Show organized by the COMESA Regional Investment Agency took place from 10 to 18 December, 2009, to build the awareness about the COMESA investment opportunities and create concrete relationship between the Gulf Member States and the COMESA. The Road Show was led by Honorable Minister W. Ncube, Minister of Industry and Commerce, Zimbabwe, Hon. Minister Amos Kimunya, Minister of Trade, Kenya, Hon. Minister Jabulile Mashwama, Minister of Commerce, Industry and Trade, Hon. Minister Felix Mutati, Minister of Commerce, Trade and Industry, Zambia, Hon. P. Misihairabwi-Mushonga, Minister of Regional integration and International Cooperation, Zimbabwe, Hon. Minister Aston Kajara, Minister of State of Investment, Uganda and Mr. Stephen Karangizi, COMESA Assistant Secretary General in addition to representatives of the COMESA Investment Promotion Agencies from Comoros, Djibouti, Egypt, Kenya, Malawi, Mauritius, Uganda, Seychelles, Swaziland, Zambia and Zimbabwe. The kick off was in Cairo Egypt where distinguished delegates and Honorable Ministers had met Dr. Mahmoud Mohieldien, Egyptian Minister of Investment to discuss several issues including: the COMESA Infrastructure Fund, COMESA Common Investment Area (CCIA), COMESA COMESA RIA Investment NEWS Conference (12-13 April, 2010). A networking lunch was hosted by the Egyptian Minister of Investment where major Egyptian private sector were attended. The second stop was Jeddah, KSA where the delegation had a successful meeting with H.E. Dr. Ahmed Mohamed Aly, President of the Islamic Development Bank and top management of the Bank, followed by a series of high profile meetings with top officials, businessmen and organizations in the Kingdom of Saudi Arabia. The meetings included the Board of Directors of Cont... Page 7 COMESA INVESTMENT FORUM - 12 / 13 APRIL SHARM EL SHIEKH - EGYPT. Under the distinguished patronage of H.E. President Mohammed Hosni Mubarak, President of the Arab Republic of Egypt th th April 2010 Sharm El Shiekh Egypt This top-level two-day Forum offers you the opportunity to update your knowledge of COMESA s business environment and investment climate. The event has been specifically designed to promote dialogue and action between investors, business leaders and senior policy makers, to create the necessary framework and drive investment opportunities and growth in COMESA and Africa. It is a unique platform for over 500 international leaders from business, government and development to network and engage one-on-one with Ministers from the 19 member states. The Common Market for Eastern and Southern African States (COMESA) is Africa s largest economic community, with a market size estimated at over 500 million consumers by With its strategic location, economic and geographic diversity, it offers thriving opportunities for international investors. COMESA INVESTMENT FORUM For more information contact: H OSTS P RODUCED BY CONTENTS Page 2 Latest Headlines Page 3 Article of the Month Page 4-6 latest Headlines Page 7-8 COMESA Gulf Road Show Page 9 Events, About RIA, Quote of the day. Regional Integration East Africa: Planned USD 900 Billion Railway Answer to EAC Development As regional integration kicks into gear, many ideas and projects are being mooted that will make East Africa, potentially one of the best investment destinations in the world. One of them is The East African Community (EAC) railway network whose master plan has been finalized and is set to cost a total of USD 900 billion. The money for the project is expected to be drawn from development partners and regional banks among others. The network will include development of a standard gauge railway line between Kampala in Uganda and Mombasa in Kenya, Dar es Salaam to Kigali and Bujumbura. It will connect local towns and the region s major cities passing through agricultural, mining, tourist and trade routes. If the project is implemented, it will boost trade, tourism, transport, production, investment and subsequently development in the region. The Forum will discuss investment projects in Tourism, Infrastructure, Finance, ICT, Energy and Agriculture/Agri-business.

2 PAGE 2 February 2010 Economy: coming on board of Citadel Capital is a mining sector. We are looking at blessing and allays the anxiety by both bringing in money for mining, Zwaik Zimbabwe: Economy Projected to governments, who have been seeking a said. An aeronautic survey conducted Grow 15 Percent better investor. three years ago revealed that Uganda The Herald (Harare) had plenty of mineral deposits across "This is our happiest moment. As long as the country. Libya has several invest- Zimbabwe s economy can grow by a they have sufficient funds to inject in the ments in Uganda, among them a stake in significant 15 percent in 2010 if the venture, we have no problem with Uganda Telecom, National Housing and country clears its critical international them. What we want is a vibrant and Construction Corporation, Lake Victoria debt and arrears, Finance Minister efficient railway," Minister for Works Hotel, Tropical Bank, Britania Industries, Tendai Biti has said. "We are projected John Byabagambi said last week. Tamoil pipeline and agriculture. to grow by 4 percent to 6 percent in the current state, but without this huge Citadel, which raises money on a Rwanda Air privatization still on debt we can achieve growth levels of 15 transaction-by-transaction basis rather New Times percent. "We are sitting on huge than having a fund to draw on for any opportunities (but) only if we manage deal, has bought 49 per cent of Privatization of state-owned airline, to resolve our debt overhang," said the Sheltam's shares; Sheltam is the largest RwandAir that is currently undergoing Minister. shareholder in RVR with a 35 per cent major reforms is still on, the airline s stake. The Ugandan government Chief Executive Officer (CEO) Gerald The country's external debt currently officials, who are meeting their Kenyan Zirimwabagabo has said. The national stands at USD 5.7 billion of which USD counterparts and RVR management to carrier has seen major changes in the 3.2 billion is owed to the donor officially announce the development, recent past including the acquisition of community and USD 1,.3 billion to the claim they were aware the Egyptians its first own aircrafts as well as staff International Monetary Fund, World would come on board although RVR recruitments. I feel I should not talk Bank and the AfDB. shareholders had no obligation to seek about the details right now since we are permission in the sale of shares. still negotiating. But I can tell you that Government has started to engage the the process is on and in the next months international community in a bid to Libya government ready to invest in and years we will see a very strong clear the outstanding debts. AfDB vice Uganda oil refinery airline, Zirimwabagabo told Business president (operations) Mr Aloysius New Vision Times in an exclusive interview. Uche Ordo on Monday said Zimbabwe Zirimwabagabo also revealed that the had made a commitment to pay in full LIBYA wants to invest in an oil refinery in ongoing efforts to improve the its critical external debt of USD 1.3 Uganda should the Government decide operations and services of the airline billion by the end of the year. to build one. The manager of Oil Libya, are part of the preparations to privatize which is a subsidiary of the African it. That is something we want like Investment: Investment Portfolio (LAP), Libya s yesterday. If we can find a private investment arm, told The New Vision investor that wants to buy shares in Uganda: Country Backs RVR Takeover yesterday that negotiations were Rwa n d A i r, t h ey a re welcome! By Egyptian Company starting today between Libya and the Particularly those that have strong The East African (Nairobi) Government of Uganda over the matter. experience in the aviation industry, he We have just started discussions and said. Without divulging further details, Kampala has thrown its weight behind we hope to progress, Ibrahim Ibrahim the CEO mentioned that the airline has the Egyptian firm that has just acquired told journalists at Entebbe airport already received some parties that have a stake in the Rift Valley Railways, a yesterday, adding that Oil Libya had expressed interest in equity acquisition. South African-managed firm jointly already built four gas stations in The first thing we are trying to do is to operating the Uganda-Kenya railway Uganda. Ibrahim is part of a delegation bring RwandAir to a stage where it will line on a 25-year concession. Citadel that arrived in Uganda over the be attractive to buy shares in it. And I Capital, which last year announced it weekend to explore new investment think we are doing very well there, he was interested in investing in Kenya, ventures, as well as consolidate existing said. Uganda and Ethiopia, has pledged to ones. The team also visited Juba in invest at least USD 150 million in the Southern Sudan yesterday. They were BP to invest USD 10 billion in Egypt in railway venture by the end of January led by the vice-chairman and chief next few years this year to revamp the crumbling line executive of LAP, Dr. Khaled Ali Kagigi. Reuters after being mismanaged by the South Africans. The Cairo-based firm, Kagigi said Libya was looking at BP Plc (BP.L) will spend USD 10 billion in according to managing director restructuring its portfolio, as well as Egypt on gas and oil exploration Marwan Elaraby, is slated to invest investing in new ventures. Dr. Ali Zwaik, activities over the coming years, its chief some USD 200 million- USD 400 million the director of Libya s mineral invest- executive officer was quoted on around Africa in Officials in the ment department, said his government Wednesday as saying. Egyptian state Ugandan government have said the was also interested in investing in the news agency MENA said Tony Hayward

3 PAGE 3 February 2010 made the announcement after meeting the country's prime minister, Ahmed Nazif, and Oil Minister Sameh Fahmy. "The company will invest USD 10 billion in the Egyptian market in the coming few years," Hayward was quoted as saying. The agency did not give any further details of the investment. Egypt's proven natural gas reserves rose to around 77.2 trillion cubic feet in the 2008/09 fiscal year. The most populous Arab country is a major natural gas exporter but it said in 2008 it would not sign any new gas export contracts until the end of 2010, to meet rising local demand. Egypt's state-owned Egyptian Natural Gas Holding Company also said in October it had delayed plans for a second liquefied natural gas train -- a production line -- at Damietta until enough gas reserves were found. BP and Eni SpA (ENI.MI) had proposed a second LNG train at Damietta with a capacity of around 2 billion cubic metres per year. Italy's Eni and Spain's Union Fenosa [UNFNS.UL] both have stakes in the LNG processing unit or train that is already functional at Damietta. (Writing by Maha El Dahan, editing by Anthony Barker). Obasanjo to invest in Ethiopia AfricaNews Former Nigerian President Olusegun Obasanjo is to invest in Hotel and tourism sector of Ethiopia and has since secured a 2,000 square meter of land near Bishoftu (Debre Zeit) town of Oromia Region called Ada. The former Nigerian President has taken the land two months ago and he is now about to implement his investment on the land located 50 Kilometers east of the capital -Addis Ababa. Obansanjo s intention to invest in Bishoftu has come following the footsteps of Djibouti s president, Ismael Omar Guelleh, who took 10,000 square meters of land last year to build holiday home in Bishoftu and also bought 3,000 square meters of land for agriculture in Bale, Oromia Region of the country. After Bishoftu town s administration approved a new master plan last year, many investors are now investing in the town, which is known for its eight unique lakes. Ethiopia and Nigeria s relation has been growing especially after The first Ethiopia- Nigeria Joint Ministerial Commission Meeting was held from April 26-29, 2006 Portfolio." Kagigi also explained that the in Addis Ababa, where areas of Portfolio decided to invest in the housing cooperation for the mutual benefits of the sector because it is one of the "promising two countries were identified. sectors in Rwanda's economy." During their three day visit, the delegation also Rwanda: Libya to Expand Investments The New Times (Kigali) met with Prime Minister Bernard Makuza and the ministers of Finance and Foreign Affairs, and the managements of The investment arm of the Libyan Rwandatel and Laico Umubano Hotel. government, Libya African Investments Portfolio (LAP), is keen on investing large sums of money in other sectors of the Ethiopia Hotel Hogs Privatisation Bids Addis Fortune (Addis Ababa) Rwandan economy. The Chief Executive Officer of Rwanda Development Board, In a government bid to privatize 11 state John Gara, revealed that the Libyans have enterprises, including a hotel, a printing hopes of exploring opportunities in press, a farm and factories, Ethiopia mining, agriculture, real estate and Hotels Enterprise has attracted the largest tourism. LAP has already invested in interest from bidders, with over 45 of 70 telecommunications and hospitality with potential bidders buying the bid the acquisition of controlling stakes in document for the hotel. Other enterprises Rwandatel SA and Laico Umubano Hotel on offer include Erer Gota Farm, Nefas Silk respectively. "The amount of their Paint Factory, Addis Abeba Bottle & Glass investments may increase because they S.C., Addis Abeba Foam and Plastic are still identifying more opportunities in Factory, Brick Products Processing S.C., the country," Gara said. The LAP Agricultural Equipment and Technical delegation arrived in country on Monday Service S.C., Kality Food S.C., Dire Dawa to monitor and evaluate the performance Food Complex, Hammaressa Edible Oil of their existing investments and identify S.C., and Commercial Printing Press, all of other possible ventures. Khaled A. Kagigi, which the Privatization and Public The Vice Chairman and CEO of LAP who Enterprises Supervising Agency (PPESA) headed the delegation, revealed that the will sell by February investment group is set to construct 400 housing units in Kagarama, Kicukiro "Two thirds of the 70 prospective bidders District. "Construction will begin soon and who bought the bid document were it will be joint work between Rwandatel interested in Ethiopia Hotel," said an and LAP Constructions which is the official at the agency. The heightened construction arm under the Libyan interest in the hotel could be due to a ARTICLE OF THE MONTH Rwanda: New Rwanda Development Board Structure Unveiled The New Times (Kigali) The Rwanda Development Board (RDB) has announced a series of massive changes following recommendations from a committee set up by Cabinet in 2009 to streamline the structure and operations of the institution. John Gara, the new RDB Chief Executive Officer, unveiled the changes that took effect this month. The new structural changes consist of categories which will replace the different bodies which initially made up RDB and headed by Deputy CEOs who operated under the overall CEO. The new categories include the Economic Departments responsible for developing their respective clusters, namely, Agriculture, Tourism, Trade and Manufacturing, Services, Information Technology and Human and Institutional Development. "We believe we have devised a new structure for RDB that will improve every area of the institution. It will merge the work, create synergies and increase collaboration within the different parts of RDB," Gara said. He noted that the process also aims at addressing critical areas that were previously not focussed on, at the same time optimising RDB's resources to improve services. "The changes we are announcing today will ensure that this iconic institution will be fast tracking development in a way that is profitable and sustainable for the country," He added.

4 PAGE 4 February 2010 number of reasons, according to 57,200 tons of carbon dioxide (CO2) per investment. The capital raised may be in Wondafrash Aseffa public relations year for a period of ten years. Masdar the form of debt or equity and may be head at PPESA, including the fact that will monetize the emission reductions from private or public sources. the hotel business is currently good in and provide advisory services required Ethiopia, and that the hotel is not only to register the project at the United In five to ten years, Harare will be the located at a very good site but has been Nations in line with the requirements of next Bangalore, he said. attracting more customers since it was the Kyoto Protocol s clean development restructured in the mid-1990's. mechanism (CDM). Masdar will support Bangalore is India s third most populous the project execution in coordination city that experienced growth and a rise Uganda: Meat Firm Constructs Sh2 with ESIIC and purchase the resulting in living standards because of Billion Plant carbon credits, thereby providing technological advancement. New Vision (Kampala) financial incentives for the development of the project. Commenting on the Minister Chamisa said Things are FRESH Cuts, a local meat processing agreement, Hassan Kamel Hassan improving and will continue to improve firm, is investing over sh2 billion in a Noman, CEO of ESIIC, said: "This especially in the Internet area. new processing plant to meet the agreement marks an important growing local and foreign demand. The milestone for ESIIC and we are proud to East Africa: EAC Railway to Get USD company deals in processing a wide be paving the way within the sugar 8.15 million Boost range of meat products ranging from industry to develop a fuel-switch under The East African (Nairobi) beef, chicken and goats' meat, of which the guidelines of the Kyoto Protocol s 80% is for export in pre-packed form. Clean Development Mechanism (CDM). The East African Community priority Stephan Duyck, the managing director, Through the cooperation with Masdar investment programme has received a said after the expansion, daily we aim to significantly reduce our major boost with the African Developproduction capacity will be tripled from emissions targets over the next ten ment Bank committing to support the the current 1,000kg. "Uganda's meat years, and alleviate the negative impact second phase of the region's railway products from local breeds are that they are having on the environ- development. The pan-african bank will attracting impressive demand at all ment". "This is our first CDM project in give USD 8.15 million to finance the market fronts for their low levels of Egypt and we look forward to study for the viability of the Dar es cholesterol," Duyck said. "We are supporting ESIIC in its quest to reduce its Salaam-Isaka-Kigali-Keza-Musongati looking to expand our local market carbon emissions. We hope this Railway, which seeks to connect frontiers beyond Kampala and will agreement will act as a catalyst for other Tanzania, Burundi and Rwanda. extend beyond the Great Lakes region organizations to explore the financial According to the EAC development borders into the European Union and and environmental benefits that CDM programme, the railway line is critical to UAE markets," he added. The finalised can offer. This project reinforces the reduction of multinational poverty expansion plan will see an addition of a Masdar s commitment to promote through regional infrastructure develo square metre complex fitted with energy efficiency and sustainability in pment. On completion in 2014, Rwanda modern machinery. Duyck said the the region" added Sam Nader, Director and Burundi traders will have their investment would also enable the of Masdar Carbon. goods transported in just a day, from the company rise the human resource number by 35%. Masdar signs agreement with Egyptian sugar firm on fuel-switch project WAM (Emirates News Agency) Development: Zimbabwe s IT to improve in five years ITNewsAfrica.com Dar es Salaam port. Currently, it takes at least three weeks for goods to move by road from Mombasa and Dar es Salaam ports. It is anticipated that the railway will give rise to the fastest train in the region, which will have a capacity to carry 25 tonnes on each axle pulling Masdar a wholly-owned subsidiary of Zimbabwe s technological sector is set 2,000 wagons at a go. The study will the Mubadala Development Company, to improve in the next five years, benefit from lessons drawn from Phase I today announced it signed an significantly altering all spheres of life in of the project which was co-financed by agreement with the Egyptian Sugar and the country, a foreign venture capital the bank. It analysed various rail Integrated Industries Company (ESIIC) company has said. The Minister of alignments with associated physical and to develop a fuel-switch project under Technology, Nelson Chamisa, believes technical constraints, project environthe guidelines of the Kyoto Protocol s that the country is already on a mental and social impact. Clean Development Mechanism (CDM). technological revolution path. Phase II will focus more on deepening The project, in which ESIIC will invest Broadhorn Capital venture capitalist has the institutional framework and structover 40million Egyptian Pounds invested in two technology companies uring the project as a Public Private ($7.5m), will replace the company s in the country. Venture capitalists raise Partnership. It will analyze the project's consumption of mazut fuel oil with capital, commonly known as risk capital socioeconomic benefits, covering the natural gas and is expected to reduce for a business and provides advisory most vulnerable people who include carbon emissions by an equivalent of services during the term of their women, children and rural dwellers. It

5 PAGE 5 February 2010 particularly targets the mining and agricultural industries as well as facilitating low-cost marketing of goods and movement of people. There will be a comparative analysis of modes of transport including road, rail and a combination of rail-road as well as lakerail on the corridors to Rwanda and Burundi. The third component comprises environmental and social impact of the railway project on climate change, spread of sexually-transmitted infections, including HIV/Aids and public security as well as the private sector participation in financing the project and managing railways. The study will provide the governments of Tanzania, Rwanda and Burundi with data and decision-making tools to facilitate the mobilization of financing, project implementation and railway manag-ement. Four mining sites will be connected to the Keza-Musongati Section by 50 km-branch lines. The Project Impact Area covers Rwanda, Burundi and North-West Tanzania (Shinyanga and Kagera regions), with a population of 22.7 million, 53 per cent of whom live below the poverty line. more than just a communication tool. It discussing a project to interconnect will also become their cash wallet, their transmission infrastructure to ease Kadango said. With Zap, customers in power sharing between the countries. Malawi will in the pilot phase be able to Zimbabwe is working towards use their mobile phone to, withdraw expanding its power generation through cash or pay for goods and services, p u b l i c - p r i v a t e p a r t n e r s h i p s, receive money from or send money to independent power producers and friends and family, top-up their or power purchase agreements. someone else's phone and pay bills for DSTV and other utilities like water and electricity. A total of six countries Ethiopia: Government Signs USD 1.5 Billion New Railway Study MOU Kenya, Uganda, Tanzania, Sierra Leone, Addis Fortune (Addis Ababa) Niger and Malawi are now in different phases of operationalising service. Zimbabwe: Country to Meet Zambia over Batoka Project The Herald (Harare) Harare Zimbabwe and Zambia will early February convene a council of Ministers meeting to pave way for the Batoka hydro-electric power project. A memorandum of understanding (MoU) has been signed by four foreign companies and the Ethiopian Railway Corporation for the launching of a study on the planned construction of a new railway line up to the border of Djibouti, at a projected cost of 1.5 billion dollars. The companies, China Communication Construction Company (CCCC), China Railway Group, Overseas Investment Alliance (OIA) from India, and a Russian company, are said to be undertaking their own individual studies on the project to make their decisions, according to Hailemariam Desalegn, government whip at Parliament and director of the board of the corporation, told Fortune. The Batoka project is set to increase electricity supply in the two countries' national grids by 800 megawatts each. In an interview, Secretary for Energy and Power Development Mr Justin Mupamhanga said Zambia would host the meeting on February 5. "The two Governments have agreed to proceed Zain Malawi launches mobile commerce service with the Batoka Hydro-electric Power Project. In order to give effect to the The company that will get the project will be the one that comes with the project there will be a council of financing, Hailemariam said. The Zain Malawi, on 12 January 2010, Ministers meeting on February 5 in technical and financial efficiency of the launched a pilot phase of a new service Zambia," he said. Mr Mupamhanga said winning company will be evaluated by that will enable customers to carry out the meeting would bring together its engineering procurement contract financial transactions using their energy and finance ministers and the (EPC). The government intends for the mobile phones. The mobile commerce respective Attorneys-General from the construction to begin before the end of service dubbed ZAP Khusa M'manja two countries. "The meeting will discuss this fiscal year early July, a high-level (money in your hands) is being rolled issues that would give direction on the government official told Fortune. out this week in Malawi following a implementation of the project and successful per-formance in East Africa funding, among other issues related to The two Chinese companies are sister Zain operations. e n e rg y, " h e s a i d. T h e B atoka companies, and CCCC has already Hydroelectric power project will take concluded a deal with the Ethiopian Zain Malawi marketing director, Enwell between four and five years to complete Roads Authority for the construction of Kadango told the media in Lilongwe and requires approximately USD 2.5 the Addis Abeba-Adama road. This during the announcement of the billion. company acquired the 349 million dollar initiative that Zain has partnered with financing for the construction from two commercial banks National Bank Mr Mupamhanga said Zimbabwe had China Exim Bank. OIA has a history of of Malawi (NBM) and NBS Bank in the also started discussions with other supplying machinery to the Ethiopian roll out of the pilot phase. Southern African countries to enhance Electric Power Corporation (EEPCo). It is power and energy sectors in the also undertaking the construction of The Malawi launch makes it Zain's sixth country. One of the deals will see Tendaho Sugar Factory with a 350 operation in Africa to introduce the Zimbabwe and Botswana signing a million dollar loan provided by the mobile-phone enabled financial service Memorandum of Understanding for the Indian Government. to their customers. With Zap Khusa construction of a fuel pipeline between M'manja, our customers will discover Harare and Francistown. Zimbabwe, The Addis Abeba-Djibouti railway is part that their Zain handset now becomes Zambia, Botswana and Namibia are of the government's plan to lay down

6 PAGE 6 February ,000km of tracks along seven different see government departments and state routes of economic importance. The firms buy goods and services online. In next phase will ensue with another the private sector, e-commerce is track linking Ethiopia to Kenya. particularly expected to benefit industries that depend on foreign Kenya: Bank Unlocks E-Commerce with supplies such as cars and tourism. Online Payment Portal Business Daily (Nairobi) A recent study by Forrester, emarketer, and IDC, global e-commerce is set to Kenya made a big leap into the world of continue growing steadily in the next electronic commerce with the con- five years. The value of e-commerce clusion of a deal for an online payment sales is expected to reach USD 711 portal that allows consumers to buy billion by the end of this year, growing at goods from the internet in local a compounded annual growth rate of 19 currency using credit and debit cards. per cent. I&M Bank unveiled plans to establish the electronic payment platform in partnership with the global financial services provider Visa card, removing one of the major obstacles to the growth of e-commerce in the country. The e-payment portal is the first in East Africa and is expected to relieve recipients of online payments of the trouble of engaging offshore electronic gateways to receive money. Besides raising the cost of online transactions, use of offshore gateways to settle payments made locally also means the businesses cannot immediately receive the cash and often incur heavy losses in the event of exchange rate fluctuations. I&M launched the electronic payment gateway after it acquired an e- c o m m e r c e l i c e n s e f r o m V i s a International, making it the first bank in Eastern Africa to offer the service. Mr Arun Mathur, the chief executive of I&M Bank, said the gateway opens yet another business opportunity for web site developers to earn additional revenue by helping potential online traders establish online platforms that can use I&M's system to receive payments. Kenyan merchants have lost billions of shillings worth of business deals in the global market because of their inability to accept online payments. Electronic commerce is expected to get a further boost beginning later this year when the government is expected to launch a five-year plan that aims to place the public sector on an online transactions mode. The plan is expected to begin with the establishment of an electronic market for public procurement that will Bilateral and Regional Cooperation: Uganda: Egypt support Uganda with Sh8 Billion for Water Projects New Vision (Kampala) The Egyptian government has donated USD 4.5m (about sh8.6b) to Uganda to secure equipment for the construction of water harvesting dams and drill wells. The Egyptian president, Hosni Mubarak, and Uganda's Prime Minister, Apolo Nsibambi, held final discussions on the grant at State House in Cairo. News of the grant was contained in a statement issued by the Prime Minister's office. Nsibambi is in Egypt at the invitation of his counterpart, Dr. Ahmed Nazif. The statement, however, did not state the areas where the dams and wells will be constructed. During the talks between the Ugandan and Egyptian delegations, Nazif said Egypt is committed to consolidating its relationship with Uganda by promoting bilateral investment and trade. "Egypt has a strong investment base. I urge you to facilitate our investors in Uganda," Nazif said. He pointed out the need for African governments to embrace the private sector, saying it plays a big role in the development of the continent. Currently, thousands of people from Africa are coming to India for complicated medical treatment as medical expenses in India are far lower than in Europe and the US. Setting up hospitals here will bring benefit to both Mauritius and the hospital chains, he added. The entry of Apollo and Fortis into the Mauritius healthcare sector says a great deal about how Mauritius itself is viewed by the global economic community. The government of Mauritius has recognized that the healthcare sector is important to the country s social, community, and economic development, Ed L. Hansen, chief executive officer of Apollo Bramwell Hospital of Mauritius, told IANS. (The) Apollo Bramwell Hospital has been designed to serve both Mauritius and the international community. Our target market for international services (medical travel) includes the continent of Africa and the eastern Indian Ocean rim. We believe we are positioned to provide the finest infrastructure, clinical care and custo- mer service east of Johannesburg and west of India, Hansen said. Nsibambi applauded the Egyptian government for its support, especially in agriculture, water management, health, fisheries and human resource development. "We need to work together to exploit the boundless opportunities in trade and investment," the premier said. Nsibambi urged the Nile Basin countries to reach a compromise on how to utilize the water resources of the Nile. Mauritius seeks India s help to boost medical tourism The Indian News Impressed by the growing healthcare infrastructure and quality of doctors in this country, Mauritius is seeking India s help to boost its medical tourism industry and has invited Indian healthcare majors to invest in the island nation. Two hospital chains have already responded. India is a growing power in the field of both tertiary healthcare and drug development. We are inviting major players in your country to invest in Mauritius. Pharmaceutical, hospital and clinical trials the opportunity for Indian players here are very good, said Nitin Pandea, head of Healthcare and Life Sciences Cluster in the Board of Investment, Mauritius.

7 PAGE 6 February 2010 "COMESA RIA" sign MOUs with Jeddah, Bahrain, Sharjah and the Federation of UAE Chambers of Commerce to enhance economic partnership and investment. Cont... Page 1 the Jeddah Chamber of Commerce, investment climate and the recent Sharjah. headed by H.E. Sheikh Saleh Kamel developments offered by COMESA Chairman, El-Sharbatly and several Member States. During the Gulf Road Show, RIA signed 4 others. Memorandums of Understandings to Final destination was the United Arab of e n h a n c e t h e cooperation a n d The delegation moved to Manama, Emirates (UAE) for a two day program communication, the MOUs were signed Bahrain where interest in COMESA was that was held at the leading states of the with: shown by their Excellencies: Dr. Essam United Arab Emirates, Abu Dhabi, Dubai 1.Jeddah Chamber of Commerce and Fakhro, Chairman of Bahrain Chamber and Sharjah. The delegation met Her Industry of Commerce, H.E. Hassan Abdallah Excellency the Minister of Foreign Trade 2.Bahrain Chamber of Commerce and Fakhro, Minister of Industry and of UAE, the Board of the Chamber of Industry Commerce, H.E. Nezar Al Baharna, Commerce and Industry of Dubai, and 3.Sharjah Chamber of Commerce and Minister of State for Foreign Affairs and the President and Representatives of Industry Shaikh Mohammed Bin Essa Al-Khalifa, the Chamber of Commerce and Industry 4.Federation of UAE Chambers of Chief Executive of Bahrain Economic of Sharjah. The UAE visit touched upon Commerce and Industry Development Board. Number of high the key players of Government and level meetings were held with the Ahli Private Sector Investors in the UAE It was evident that the Gulf Road Show United Bank and Mumtalakat Invest- p a v i n g t h e w a y f o r f u t u r e was an opportunity for the COMESA ment Fund. The delegation had the c o r r e s p o n d e n c e a n d m u t u a l Member States to highlight the opportunity to visit the Manama One interactions between COMESA Memb- potential investment climate and Stop Shop as well as Manama er States, and the UAE Government and opportunities within the region. Investment Park. The meetings were Business Community. followed by a Seminar held at the The Road Show was considered a major Intercontinental Regency, where the A seminar was held at Sharjah Chamber success as it created awareness on the Honorable Ministers of COMESA and of Commerce, where RIA presented the region. Follow ups by the IPAs that distinguished IPA Representatives were investment climate of the COMESA participated is vital to maintain the able to present and discuss the region, the seminar was followed by a momentum. available opportunities in COMESA, the visit to the Egyptian trade centre in A picture is worth a thousand words

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9 PAGE 8 February 2010 QUOTES A business that makes nothing but money is a poor business Henry Ford Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek Barack Obama EVENTS Africa Investment Forum 2010 Africa Business Forum February 2010, June 22, 2010 to June 24, 2010 Accra International Conference Centre, United Kingdom Accra, Ghana # The Egypt Insurance Conference 30 March 2010 Four Seasons Nile Plaza, Cairo, Egypt # The Euromoney Mauritius Conference 30 March 2010 Waldorf Hilton, London, UK COMESA Investment Forum April 2010 Sharm EL Shiekh, Egypt ABOUT US The COMESA regional investment agency is a co-ordinator between the 19 Comesa African country NIPAs. It aims to bring forth all the investment information and opportunities for worldwide investors interested in the African region. RIA team Heba Salama Manager Mohamed Aref Research Analyst Mohsen El Tonsy Marketing Officer Maged El Kamhawy Accountant Subscription request subscription through: Nigeria International Investors Forum 2010 April 19-20, 2010 Abuja, Nigeria Sponsors While every effort is made to provide accurate information, no responsibility is taken for inaccuracies and omissions contained herein. 3, Salah Salem Road, Nasr City, Cairo, Egypt General Authority For Investment BLDG Tel: (+ 202) Fax: (+202)