African Business articles from April 2007

African Business archives from April 2007

The Global Compact: the private sector and UN principles.(Letter to the editor)
April 1, 2007... I wish to thank your correspondent Stephen Williams for his comprehensive article on the United Nation's Global Compact (African Business February 2007) within the Corporate Social Responsibility (CSR) special report. This special report...

The China option: Sino-US dialogue.
April 1, 2007... I have followed the coverage that you have given to the increasingly close trading relations between China and Africa with great interest--not only Anver Versi's editorial (China is good for Africa--African Business March 2007 issue) but also...

Proof required: a heated argument?(Brief article)
April 1, 2007... Whenever I read about global warming (Avoiding an Apocalypse, book reviews, African Business January 2007) I look for the evidence that this phenomena is actually caused by carbon emissions. Invariably, I look in vain. I do not dispute...

Clean diamonds: US Jewellers act.
April 1, 2007... I have just returned from New York, where I attended my brother's wedding, and I picked up the February issue of your magazine from the news magazine rack on the plane. It was very interested to read about Leonardo DiCaprio's new film, Blood...

Building financial ties: Mauritius-India co-operation.
April 1, 2007... Your article from Mauritius by Nasseem Ackbarally (Striking Gold from Waste--African Business, March 2007 issue) was wonderfully informative and gave a good idea of the ever-closer India-Mauritius trading relationships that are now being...

Coke backs young Africans.(Entrepreneurship)(Brief article)
April 1, 2007... The Coca-Cola Africa Foundation has awarded a grant of $500,000 to Junior Achievement Worldwide (JAW) to pilot its entrepreneurship and work readiness programmes in three African nations. Targeting youth in Kenya, Nigeria, and South Africa, the...

Elephant cull mooted.(Wildlife)(Brief article)
April 1, 2007... Hundreds of elephants in South Africa may have to be culled to cope with their soaring numbers, authorities in South Africa have announced. Martinius Van Schalkwyk, the country's environment and tourism minister, has reported that the Kruger...

Forum for business.(Investment)(Brief article)
April 1, 2007... The World Bank-IMF Africa Investment Club in conjunction with the Africa Trade and Investment Council will hold a forum later this year to facilitate discussions on Africa's most dynamic business sectors and promote business matchmaking between...

Support for women entrepreneurs.(Finance)(Development Finance Company of Uganda )(Brief article)
April 1, 2007... With help from the IFC, the private sector arm of the World Bank Group, the Development Finance Company of Uganda (dfcu) group last month launched its Women in Business (WiB) programme for Ugandan women entrepreneurs. The dfcu will extend...

Giant ore mine for Senegal.(Mining)(Brief article)
April 1, 2007... Steelmaking giant Arcelor Mittal has announced plans to invest $2.2bn in an iron-ore mining project in Senegal's Faleme region. The investment covers constructing a new seaport near to the capital, Dakar, and a new railway line. The mine,...

New plant commissioned.(Power)(Geregu Gas Turbine Power Plant)(Brief article)
April 1, 2007... Nigerian President Obasanjo has commissioned the Geregu Gas Turbine Power Plant, the first brand new power plant funded and commissioned by his administration. Built at a cost of [euro] 195m ($256m), it has the capacity to generate 414...

UK shops urged to buy African.(Agriculture)(Brief article)
April 1, 2007... Britain's secretary of state for international development, Hilary Benn, has urged supermarkets in the UK to import more food from Africa. Speaking at the launch of Fair Trade in the UK, Benn said he wanted to increase the amount British...

UN HQ overrun with rodents.(Infestation)(Brief article)
April 1, 2007... The UN headquarters in New York is plagued with mice, rats, worms and eels, according to staff members. They have been complaining to Aramark, which provides catering services to the building, that evidence of infestations have been found in...

AFC's international launch.(Finance)(Africa Finance Corporation)(Central Bank of Nigeria)(Brief article)
April 1, 2007... Chukwuma Charles Soludo, governor of the Central Bank of Nigeria (CBN), has launched the Africa Finance Corporation (AFC), a new private investment fund. Soludo says the new fund, sponsored by the CBN, will "harness the opportunities...

AB guide to African currencies.(Business Briefs)(Statistical table)
April 1, 2007... AB Guide to African Currencies Country Currency [pounds sterling]STG Algeria (Dinar) 139.10 Angola (New Kwanza) 154.49 Benin (CFA) ...

Mugabe--the lost opportunities.(EDITORIAL)
April 1, 2007... The situation in Zimbabwe has now become intolerable and Thabo Mbeki's deafening silence on what is going on in that country is doing no one any good. Mbeki's loyalty, on a pan-African perspective, should be with the common humanity across...

Africa's top 200 companies.(Brief article)
April 1, 2007... African Business magazine is proud to present its annual ranking of the top 200 African companies. This was an excellent year for most African economies, reflecting robust global growth and exceptional prices for the continent's hard and soft...

South Africa still reigns supreme.(Africa's Top 200 companies)
April 1, 2007... Given South Africa's undeniable command of the African economy, it is no surprise that the continent's economic superpower dominates our survey of the Top 200 African companies. As in previous years, South African companies fill almost all...

Africa's top 200 companies.(Statistical table)(Company rankings)
April 1, 2007... [c] All financial data is courtesy of Dr Ayo Salami, co founder of African Business Research Limited, a research driven portal and consultancy specialising in Africa, www.africanfinancialmarkets.com Rank ABRI Code Company name ...

North Africa: Egypt and Morocco retain top positions.(Africa's Top 200 companies)
April 1, 2007... As elsewhere in Africa, the value of North Africa's top companies has risen over the past 12 months. While market capitalisation of $313m was sufficient to gain a place in the region's top 50 firms last year, that figure has now increased by...

West Africa: Nigeria rules sub-region.(Africa's Top 200 companies)(Survey)
April 1, 2007... After last year's survey of the top African companies, it would scarcely have been credible for Nigeria to further entrench its domination of West Africa's listed companies. Out of the top 50 companies in the region, an incredible 40 were based...

Central Africa: foreign companies dominate.(Africa's Top 200 companies)
April 1, 2007... Most countries in East, Southern and West Africa have to varying degrees liberalised their economies and so possess companies that are listed on either their own or regional stock exchanges. However, most economic activity in Central Africa is...

Eastern Africa: Kenya still heavyweight champion.(Africa's Top 200 companies)
April 1, 2007... As the East African Community (EAC) begins to take shape, there has been a great deal of discussion on how Tanzanian and Ugandan companies have begun to close the gap on their Kenyan counterparts. [ILLUSTRATION OMITTED] There were a...

Southern Africa: a homogenous honeypot.(Africa's Top 200 companies)
April 1, 2007... South African companies and their counterparts in the sub-continent are riding boom times. South African firms are not only enjoying robust growth in their home markets but also in those African countries they have ventured into. ...

Global investors betting on a resurgent Nigeria: Africans countries have shown remarkable resilience over the past year, with most achieving positive growth figures. Higher oil and commodity prices, coupled with greater foreign exchange inflows, have sustained growth and are likely to continue doing so over this year.(View from the City)
April 1, 2007... President Olusegun Obasanjo, who ends his second and final term of office this month, can boast significant success during his eight years in office. The country has seen a revival of economic growth, rising investor confidence along with the...

Nigeria to double power capacity this year: at long last, it appears that Nigeria's power sector is about to undergo a revolution. If all goes according to plan, capacity is expected to double by the end of this year and triple within the next two.(Energy)
April 1, 2007... Despite progress on several other fronts, the government of President Olusegun Obasanjo has thus far failed to improve Nigeria's dire power supply situation. [ILLUSTRATION OMITTED] Even when all existing plants are fully operational,...

Cocoa, coffee, sugar prices move up, tea declines: Moin Siddiqi presents his annual review of Africa's soft commodities, focusing on cocoa, coffee, sugar and tea. Prices have generally tended to move upwards, except in the case of tea in which chronic oversupply is driving down earnings.(Commodities)
April 1, 2007... Market fundamentals have generally remained favourable to African farmers as the prices of cash crops like coffee, cocoa, tea and sugar have risen in the past three years. About one-third of sub-Saharan Africa's non-fuel exports comprises of...

Insurance in Nigeria.(AN AFRICAN BUSINESS SPECIAL REPORT)
April 1, 2007... Following hard on the heels of Nigeria's banking reforms, came the equally thorough reform of the insurance industry. The country's 104 insurance companies, many undercapitalised, were given until 28 February this year to raise their...

Richards Bay, rail expansion will boost exports: coal is one of the main pillars of South Africa's export strategy but limited capacity at the Richards Bay Coal Terminal has placed an artificial cap on production expansion. Neil Ford reports on plans to increase capacity at the port and to improve the country's rail infrastructure.(Infrastructure)
April 1, 2007... The long-term prospects for the South African economy are better now than for many years. Industrial production is rising by 5.4% a year, inflation has been brought down to below 6% and annual economic growth stands at 4.5%. Although it is...

Container matters.(Jos inland container depot)
April 1, 2007... A 20,000 twenty foot container equivalent unit (TEU) port facility to serve shippers within Nigeria and neighbouring countries that use Nigeria as a hub for the movement of their cargoes will put a modern face to the ancient reputation of Jos...

The incomplete legacy of the abolition of slavery: on 25 March, there were global celebrations marking 200 years since slavery was abolished. In this essay, our guest columnist places this event in the wider modern history of Africa and shows that while African emancipation has come a long way, it is far from complete.(Guest Column)
April 1, 2007... On 25 March, Africans from around the globe came together to commemorate the bicentennial celebration of Britain's abolition of the slave trade. [ILLUSTRATION OMITTED] The slave trade was an institution of powerful nations and empires...

Western Union's 150-year-old recipe for success: remittances now constitute the second largest flow of capital to the developing world. In some African countries, remittances form the largest segment of foreign exchange income and contribute substantially to national GDPs. Anver Versi reports on how Western Union has become the global leader in the money transfer industry.(Corporate Profile)
April 1, 2007... Remittances home from ethnic minority communities working in high income countries reached the quite staggering figure of $269bn in 2006. This flow of capital is second only to government aid and grants in terms of volume. The transfer of...

Can the Grameen experience work in Africa? Can Africa learn from the revolutionary micro-finance solutions pioneered by the Grameen Bank experience in Bangladesh? The bank's founder and the bank itself were awarded the 2006 Nobel Peace Prize. Neil Ford discusses the philosophy behind the system.(Finance)
April 1, 2007... The decision to award the 2006 Nobel Peace Prize to Muhammad Yunus and the Grameen Bank in Bangladesh has underlined the potential of micro-finance in developing countries. Micro-finance banks have been set up in most African countries over the...

Masters of the hard bargain: continuing our series of business off the beaten track, Katrina Manson and James Knight found, in Mauritania, a commercial class savvy for a business deal like no other. Never mind the oil finds, it's hard bargaining and hard work that makes this country tick.(Mauritania)
April 1, 2007... "Unless a Mauritanian makes 200% on any deal, he is not satisfied and walks away." That is not a local proverb, but the opinion of an oil executive working in the sand-swept West African country, a unique meeting point of sub-Saharan and Arab...

Botswana's San peoples win land battle in court: in one of Africa's most high-profile land disputes, Botswana's Bushmen have won the right to live on their ancestral land--but with many strings attached. Tom Nevin reports.(Trends)(San Bushmen)
April 1, 2007... In a verdict that stunned southern Africa and promises to impact on the way governments in the region will handle land dispossession of their indigenous peoples, a Botswana court has ruled in favour of a group of San Bushmen, and set aside...

2010: construction companies in capacity crunch; Pressure is mounting on South Africa's building industry, forcing up costs and putting the squeeze on skills and raw materials. Tom Nevin reports.(South Africa)
April 1, 2007... South Africa has a highly efficient construction industry and its consultants, engineers and contractors are busy on projects throughout the country and the continent, and around the world. In fact they've never been busier. Money has never...

Skilled workers head south: Zimbabwe's leading construction companies are beginning to feel the pinch of a massive haemorrhaging of skilled artisans who are making the great trek down south as the World Cup draws near. Barnabas Thondhlana reports from Harare.(Zimbabwe)
April 1, 2007... Construction companies in South Africa have embarked on a massive drive to recruit skilled personnel from Zimbabwe in a bid to meet their deadlines for building projects set to change the face of the country and meet the demands of the Soccer...

Path to self-sufficiency: international organisations such as the International Fund for Agricultural Development (Ifad) are increasingly looking at micro-finance schemes to promote development in rural regions of Eastern Africa. Dominque Magada reports on one such success story.(Madagascar)
April 1, 2007... In Madagascar, where 85% of the population still lives in rural areas, micro-finance projects have been particularly successful, exceeding their initial objectives and enabling some regions to boost development and begin exporting agricultural...

Can Conte hold it together? Protests and riots rocked the usually placid country of Guinea indicating that the people may be losing patience with the government of Lansana Conte. Guinea has the world's largest reserves of bauxite and a new aluminium smelter will add considerable value to its main export--if stability can be maintained. Report by Neil Ford.(Guinea)(Lansana Conte)
April 1, 2007... The Mano River region has long been one of the most insecure and unstable parts of Africa. Civil war and rebel activity in Sierra Leone and Liberia spilled over their common border and also into neighbouring Guinea. [GRAPHIC OMITTED] ...

Rwanda, Burundi to join East African Community: Rwanda and Burundi look set to join the East African Community (EAC) in July this year, boosting the organisation's membership to five countries. This will be a radical departure for the francophone countries as they seek to integrate their economies with the English/Kiswahili-speaking Kenya, Uganda and Tanzania. Report by Neil Ford.(East Africa)
April 1, 2007... A memorandum of understanding on accession into the East African Community was reached at the eighth EAC heads of state summit in Arusha last November and now it appears that the two francophone states, Rwanda and Burundi, must merely make a...

The next US president? Promises of change.(The Audacity of Hope)(Book review)
April 1, 2007... The Audacity of Hope By Barack Obama $25 Crown (US) ISBN 0-307-23769-9 US presidential elections are still some 18 months away, but already the campaigns are underway and one man, a junior senator, is creating a huge...

Fighting the Diseases of Poverty.(Brief article)(Book review)
April 1, 2007... Fighting the Diseases of Poverty Edited by Philip Stevens [pounds sterling]12 Campaign for Fighting Diseases ISBN 1-905041-14-4 [ILLUSTRATION OMITTED] Many health policies promoted by intergovernmental bodies and...

Between Faith & History: A Biography of J A Kufuor.(Between Faith and History: A Biography of J.A. Kufuor )(Brief article)(Book review)
April 1, 2007... Between Faith & History A Biography of J A Kufuor By Ivor Agyeman-Duah [pounds sterling]25 Ayebia ISBN 9780954702397 [ILLUSTRATION OMITTED] This is an account of John Kufuor's journey from Oxford-educated lawyer to...

The Definitive Drucker.(Book review)
April 1, 2007... The Definitive Drucker By Elizabeth Haas Edersheim McGraw-Hill ISBN: 0-07-147233-9 [ILLUSTRATION OMITTED] For the 16 months before his death, Elizabeth Haas Edersheim undertook a series of in-depth interviews with Peter...

Grasping Africa.(Brief article)(Book review)
April 1, 2007... Grasping Africa By Stephen Chan [pounds sterling]16.99 I B Tauris ISBN: 978-84511-285-1 [ILLUSTRATION OMITTED] Africa is huge, internationally vital, potentially rich and powerful yet mired in failure--political,...

From Dark Heart to Kalahari.(Brief article)(Book review)
April 1, 2007... From Dark Heart to Kalahari Clive Spinage [pounds sterling]14.99 Librario ISBN 1-904440-74-6 [ILLUSTRATION OMITTED] Clive Spinage first went to Kenya, Africa in 1953 but did not become a professional wildlife ecologist...

The Writing on the Wall: China and the 21st Century.(The Writing on the Wall: China and the West in the 21st Century)(Brief article)(Book review)
April 1, 2007... The Writing on the Wall China and the 21st Century By Will Hutton [pounds sterling]20 Little Brown ISBN 978-0-316-73018-1 [ILLUSTRATION OMITTED] China constitutes a fifth of the world's population. Over the last 20...

The Battle for Barrels: Peak Oil Myths and World Oil Futures.(Book review)
April 1, 2007... The Battle for Barrels Peak Oil Myths and World Oil Futures By Duncan Clarke [pounds sterling]20 Profile Books ISBN 1846680123 [ILLUSTRATION OMITTED] This book deals with what the author Duncan Clarke describes as...

The dignity of defiance: beats of the heart.(Rhythm of Resistance: The Black Music of South Africa)(Video recording review)
April 1, 2007... Rhythm of Resistance The Black Music of South Africa Various Artists (DVD Format 60mins) [pounds sterling]14.99 Digital Classics Distribution Cat: DC1002 This DVD is a re-release of one of the seminal movies made in South...