African Business articles from April 2005

African Business archives from April 2005

Marshall Plan for Africa: produce now, pay later.(THIS MONTH'S PRIZE LETTER)(Letter to the Editor)
April 1, 2005... Thank you for addressing one of the most critical issues facing Africa today in your February Cover Story, Live now, pay later a dissection of British Chancellor Gordon Brown's 'Marshall Aid' for Africa. I would like to add my views to the...

Kampala--Mombasa railway: don't lose the old charm.(THIS MONTH'S PRIZE LETTER)(Letter to the Editor)
April 1, 2005... I was delighted to read that the Kampala--Mombasa railway is to receive an upgrade (African Business March issue) but I hope and pray that the wonderful experience of travelling by rail through East Africa will not be lost in the process. Some...

GM foods: let's learn to handle the genii.(THIS MONTH'S PRIZE LETTER)(Letter to the Editor)
April 1, 2005... The letter's pages of the February issue of African Business magazine perfectly illustrates some of the confusion that plagues the issue of genetically modified (GM) foodstuffs. I have to admit that I am completely mystified by the issues and...

Prize letter: win a free annual subscription!
April 1, 2005... African Business will award a free one year subscription to the reader whose letter is chosen as the Prize Letter for that month. (Existing subscribers will receive a free annual renewal). Your views on Africa and matters affecting Africa are...

Trends: boost for donkey power.(BUSINESS BRIEFS)(services of Namibia Donkey Welfare)(Brief Article)
April 1, 2005... Donkeys have played an important role in building the economy of Namibia, but now the half-million or so, most of them strays, are considered a nuisance, degraders of the ecology and a danger on the roads. Looking into the issue is a...

National budget: Botswana cautious over 2005.(BUSINESS BRIEFS)(Brief Article)
April 1, 2005... A balanced budget of P20.5bn ($4.4bn) will steer Botswana's economy for the 2005/06 year, with an uncertain projected mineral performance calling for caution. HIV/Aids, and a geared up programme to intensify diversification away from diamond...

Mining: golden future.(BUSINESS BRIEFS)(Brief Article)
April 1, 2005... The good news for Africa's gold producers is that industrial demand for the precious metal could rise by more than 50% over the next 10 years because of new applications in the pipeline. Technological innovation for gold includes uses in gas...

Investment: hunt for Africa's minerals to stay strong.(BUSINESS BRIEFS)(Brief Article)
April 1, 2005... Explorations spend in Africa could stay strong in 2005, says Gerhard Holden, head of Barclays Capital. In his view above-average world growth predicted for 2005 will result in another year of strong commodity demand. "If the boom continues and...

Development: new aid for Africa to take off.(BUSINESS BRIEFS)(Brief Article)
April 1, 2005... A proposal by France and Germany to tax aviation fuel to raise development funds for Africa has been given the nod by the executive of the European Union. The EU stressed that the tax should not be a substitute for existing aid programmes, and...

Stock market: bourse beckons Zambia bank parastatal.(BUSINESS BRIEFS)(Brief Article)
April 1, 2005... The Zambian government is to list 25% of the state-owned Zanaco Bank on the Lusaka stock exchange, and offer 49% to foreign investors to meet conditions for debt relief. According to Davidson Chilipamushi, permanent secretary for commerce,...

Telecommunications: highly connected Nigerians.(BUSINESS BRIEFS)(Brief Article)
April 1, 2005... Teledensity in Nigeria has jumped to 6.5% from 4% in just five years, pushing to around 10m the number of functional phone lines, up from 400,000 in 2000. This exponential growth is attributable to keen competition among players and a good...

Mining: Botswana strikes gold.(BUSINESS BRIEFS)(Brief Article)
April 1, 2005... "One prays that the success of Gallery Gold will become an example to others looking for opportunities in Botswana," President Festus Mogae told a gathering of businesspeople, politicians and the media as he opened the country's first gold...

Political economy: Ivory coast on the mend.(BUSINESS BRIEFS)(Brief Article)
April 1, 2005... In the first positive sign for its recovery, Cote d'Ivoire's economy grew by 0.7% last year, after contracting in the previous two years during its civil conflict. The world's foremost cocoa grower and West Africa's erstwhile economic...

Commodities: Pakistan, Kenya in tariff wars.(BUSINESS BRIEFS)(Brief Article)
April 1, 2005... Previously described as storms in a teacup and a rice bowl, a more tempestuous tariff war seems likely between Kenya and Pakistan, and it is already had a serious effect on Kenya's export tea sales. African tea prices were badly hit at the...

Industry: Angola gets the people's car.(BUSINESS BRIEFS)(investment by Volkswagen)(Brief Article)
April 1, 2005... Volkswagen will invest $48m in a new assembly plant in the Angolan capital of Luanda this year. The first car will roll off the line in 2007. Ari de Carvalho, head of Angola's private investment agency, says the new plant will help revive the...

AB guide to African currencies.(BUSINESS BRIEFS)(Illustration)
April 1, 2005... AB Guide to African Currencies COUNTRY CURRENCY [pounds sterling]STG ALGERIA (Dinar) 137.63 ANGOLA (New Kwanza) 167.88 BENIN ...

Blair's rendezvous with history.(EDITORIAL)(Africa Commission Report)
April 1, 2005... The Africa Commission Report, initiated by British Prime Minister Tony Blair and Sir Bob Geldolf (of Live Aid fame) was launched last month in London amid great pomp and ceremony. Someone at the ceremony said excitedly, "this is a blueprint...

The top companies in Africa.
April 1, 2005... Once again we are pleased to present our annual rankings and reviews of the top companies in Africa. This time we have expanded our listing from the top 100 to cover the top 200 companies thereby providing a more representative continental...

China's economic surge boosts prices: the phenomenal economic boom in China has been sucking in metals from all sources, creating supply deficits and raising prices. The short-term future for Africa's metal producers is brighter than it has been for quite a while. Moin Siddiqi reports.(BASE METALS)
April 1, 2005... A powerful surge in global demand, especially from Asia's developing economies led by the phenomenal trade and investment boom in China, has underpinned raw materials and base metal prices over the past two years. [ILLUSTRATION OMITTED]...

At last, Africa to get its own theme park: in less than four years' time, Africa will have its own theme park, which according to the developers will challenge the best in the world. The ambitious project, involving most member countries of the AU, will be housed near Johannesburg in South Africa. Tom Nevin has the exclusive report.(TRENDS)(Africa Theme Park Resort)(services of Gauteng Economic Development Agency )
April 1, 2005... Finally, Africa is to have its own theme park. A massive project in Gauteng province, South Africa, will bring together Africa's 53 nations in a knowledge and experience sharing initiative that will "present Africa to the world in a way that's...

Budget--Manuel walks on water: Christmas came early for South Africa's lower to middle income earners with generous tax cuts in the 2004/2005 budget. But, says Tom Nevin, with punishing new levies on booze and smokes, it'll cost more to celebrate the windfall.(SOUTH AFRICA)
April 1, 2005... The 2004/05 South African budget labels Finance Minister Trevor Manuel 'a big spender', and that's necessary, he says, to give the economy the hefty push it needs to meet the government's commitment to massive job creation. Unemployment is...

Recovery gains momentum: Madagascar's seesaw economic phase--rapid growth followed by total stagnation during the political crisis three years ago--now seems to have levelled off. Neil Ford reports.(MADAGASCAR)
April 1, 2005... President Marc Ravalomanana promised that Madagascar was looking forward to a bright future when he emerged as the country's leader following the political crisis of 2002. Although the country has faced its fair share of problems since then,...

Destined to fail or failing its destiny? Eritrea seems to be stuck in limbo between a wartime and peacetime mentality and economic growth has stood still. Neil Ford discusses whether smaller nations, such as Eritrea and Djibouti, can ever be economically viable.(ERITREA)
April 1, 2005... Before the outbreak of its destructive border war with Ethiopia, the IMF praised the Eritrean government's attempts to liberalise the economy and promote private enterprise. [GRAPHIC OMITTED] The country lacked obvious natural...

The jewel of Africa: as Botswana approaches its 40th independence anniversary, it continues to grow in lustre. It is now officially one of the easiest places in the world in which to do business. Report by Neil Ford.(BOTSWANA)
April 1, 2005... Next year is the 40th anniversary of Botswana's independence and there will certainly be a great deal to celebrate. One of Africa's poorest countries has been transformed into one of its richest, a strong sense of nationhood has been inculcated...

Nation in search of its soul: Nigerians have embarked on a major project of discussion and debate about the kind of future they want for their country. Neil Ford outlines some of the topics for discussion.(NIGERIA)
April 1, 2005... It is not difficult to sum up Nigeria's major problems. It is one of the world's biggest oil exporters, with stretches of land that are literally seeped in oil, yet it is unable to satisfy its own fuel requirements. The obsession with oil...

Railways seek $1.6bn upgrade: Ghana's ancient railway network will get a new lease of useful life through a $1.6bn development project which will see it extended to the north of the country and stronger links established to neighbouring countries. George Frank Asmah reports from Accra.(GHANA)
April 1, 2005... Ghana is vigorously implementing strategic initiatives to expand and modernise the country's century-old railway system. The government has already solicited external financial support to undertake feasibility studies geared towards the...

ICB Banking Group: the silent expansion.(CORPORATE STATEMENT)
April 1, 2005... How did it begin? In the early 90s, there was an increasing awareness in developing economies such as Malaysia that the world was a global village and that it was necessary for entrepreneurs to expand their horizons from merely looking at...

Africa goes credit card crazy: for better or worse, credit cards are sweeping Africa, changing buying habits and even social relations.(AT LARGE)
April 1, 2005... Some half million new credit cards will be issued in Kenya in 2005. This is a dramatic increase on the 100,000 currently in circulation in this East African nation of 31m people. And with the full scale arrival of 'plastic', so the social and...

Team Shosholoza takes on the world: for as long as anyone can remember, ocean yacht racing has been the preserve of very rich white men. Things are about to change. A South African multi-ethnic team, with crewmembers from deprived black areas, is about to mount a challenge. Watch this space. Milan Vesely reports.(SPORTING BUSINESS)(success of Team Shosholoza )
April 1, 2005... With the amazing success of Team Shosholoza on its relatively paltry $17m budget, the sport of ocean yacht racing has been transformed. This bastion of a white and wealthy elite has now come into line with the changing face of world sport. ...

Popular protest: bondage, abolitionists and boycotts.(Book Review)
April 1, 2005... Bury the Chains The British Struggle to Abolish Slavery By Adam Hochschild [pounds sterling]20.00 Macmillan ISBN 0-333-90491-5 In Adam Hochschild's introduction to this fascinating and elegantly crafted book, he reminds...

Treasures from the archives: Guinea's favourite orchestra.(Bembeya Jazz National)
April 1, 2005... Bembeya Jazz National The Syliphone Years Sterns STCD 3021-22 In the two decades after Guinea Conakry's independence in 1958, Bembeya Jazz National was one of the country's premiere orchestras. Founded by Demba Camara in...