Zambia cemented its democratic credentials on 30 October in an election that observers judged free and fair, even though a defeated opposition leader has disputed the results in what was an exceptionally tight race.

The Tanzanian aviation industry is expected to grow by 7.9 percent in the next financial year, according to the chief of the Tanzania Civil Aviation Authority (TCAA).

TCAA Director-General Margareth Munyagi said the expected growth is based on expected increases in aircraft movements in the country.

Tanzania now has an aircraft movement of 178,551, which is expected to increase to 192,620 during the 2008/2009 period.

But the TCAA chief also disclosed to a local seminar, according to Monday's edition of The Guardian newspaper, that the accident rate for local operators had slightly increased, to 5.01 accidents per 100,000 departures in 2006/2007, up from 4.41 accidents per 100,000 departures in 2005/2006.
 

Xinhua.

 
The Gemological Institute of America (GIA) has announced plans to open a diamond grading laboratory in Gaborone, Botswana during this year’s fourth quarter.

The GIA also plans to establish educational classes at the lab in 2009.

In terms of value, Botswana was the world's top diamond-producing country in 2007, reaching
$3 billion in diamond production.

The chief executive of Mozambique’s state-owned airport management company has been arrested on suspicion of defrauding the company of millions of rands.

Diodino Cambaza, 44, was arrested this week after an investigation by the attorney-general found evidence that Cambaza and several other board members of Aeroportos de Mocambique (AdM), had swindled company funds since 2005 . The chief financial officer was also arrested.

The investigation was ordered after a series of allegations against the executives by company staff in the local media over the past two months. Cambaza is alleged to have siphoned off close to R5.4million from AdM to finance the refurbishing of his official home, and to have diverted money earmarked for the redesign of Tete Airport in the north for his personal use, including the buying of cattle, cars and a luxury home.

Hopes of an IMF package, which has been holding up emerging market currencies in the face of fresh global turmoil, finally seem to be coming to fruition. Over the weekend packages were announced for Hungary, Iceland and Ukraine.

Watch the relative performance today with Turkey, which pointedly turned down a deal, but the ZAR is likely to ride any Eastern European wave stronger.

Separately there are strong rumours that the IMF is planning a credit funding facility for countries with dollar funding problems.