Zimbabwe bans hoarding of cash http://www.sundaytimes.co.za/zones/sundaytimes/newsst/newsst1060429397.asp President Robert Mugabe's government announced on Saturday that it banning the "hoarding" of cash, in an attempt to deal with a desperate shortage of banknotes. The scarcity of banknotes has forced thousands of people to queue outside banks, sometimes for days, to try to withdraw their salaries. Withdrawals are limited to 5000 Zimbabwe dollars. Anglogold's Deep Pockets And Skills Base Vital to Deal http://allafrica.com/stories/200308060253.html AngloGold's potential to fund the development of Ashanti's Obuasi Deep mine and its deep-level mining skills were key to Ashanti backing its offer for the company. The combined group, to be known as AngloGold Ashanti Limited and will trade as Ashanti AngloGold in Ghana, will become the world's largest gold producer. The Ghana government must still approve the deal. UNECA Reports 'Mixed' Outlook for Africa http://allafrica.com/stories/200307300243.html African countries that have made the most progress in putting in place the right policies to reduce poverty top the rankings in the latest Economic Report on Africa (ERA 2003), the annual Economic Commission for Africa (ECA) flagship publication launched today. Botswana, South Africa, Mauritius, Namibia, and Tunisia rank highest, in that order, while the Republic of Congo is at the bottom followed by Zimbabwe, Chad, Guinea and Nigeria. The top performers have lower foreign debt, lower budget deficits, and lower interest rates. Market liberalization is more advanced in these countries, with few policy reversals; legal systems are more effective; infrastructure is of higher and more reliable quality and access is better; and pro-poor policies are more effective. The bottom five fare poorly on all these indicators. Nigeria Records $4bn Trade Deficit With US http://allafrica.com/stories/200308070399.html "Nigeria is the cornerstone of West Africa, with 41 per cent of West Africa's economy and 47 per cent of its population," Jetter said. He, however, urged Nigeria to shift as soon as possible from political competition to economic reform, to achieve growth and equitable development.