- Zimbabwe's finance minister Tendai Biti and his South African counterpart, Trevor Manuel will continue talks on a safe exit out of the current economic shame that has left the country in the worlds highest inflation, last estimated at over 231 million.
South African president, Kgalema Motlanthe told reporters in Cape Town today, following their meeting with the Zimbabwean delegation, that talks are expected to continue next week between the two countries' ministers on an emergency plan.
He was optimistic that by the end of next week there will be clarity on how South Africa could respond to Zimbabwe's request.
Zimbabwe's economic bail out is estimated to carry a cost of around US$ 5 billion in the short term and the delegation, led by newly appointed Prime Minister Morgan Tsvagirai, was hoping for at least $1 billion for its neighbour.
As the new regime in Zimbabwe faces a huge mountain of challenges brought about by years of administrative neglect and policies shooting from the hip, the government will also be looking at strengthening laws as a way fo reattracting foreign direct investment in the battered Southern African state.
Mr Tsvangirai told reporters in Cape Town today that his country needed urgent short-term interventions to kick start the economy.
Zimbabwe still faces a number of targeted sanctions from the western countries, who have expressed a desire to wait and watch as the functionality of the newly formed unity government unfolds.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.
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