Pt. 1. Introduction. 1. Climate change, carbon trading and the purpose of this study / Trusha Reddy -- 2. Climate change and carbon trading in Africa / Yacob Mulugetta. Pt. 2. Offset projects. 3. African offset projects / Trusha Reddy -- 4. South Africa, Country context ; Case study: Sasol's co-generation project and carbon expansion within the CDM system / Tristan Taylor -- 5. Uganda. Country context / Edward Mupada ; Case study: Nile Basin Reforestation Project / Edward Mupada ; Case study: West Nile Electrification Project / Matthew Wilhelm-Solomon and Anthony Millner -- 6. Ethiopia. Country context ; Case study: seeking voluntary offsets through a pilot cookstove project / Negusu Aklilu. Pt. 3. Carbon finance. 6. World Bank carbon finance and Africa's forests / Janet Redman and Astrid Westerlind Wigstrèom. Pt. 4. Regulation. 8. Regulation as corruption in carbon offset markets / Larry Lohmann. Pt. 5. Conclusion. 9. Summary and recommendations / Trusha Reddy.