African Business articles from August 2006

African Business archives from August 2006

US investment in Africa: time for a dialogue.(THIS MONTH'S PRIZE LETTER)(Letter to the editor)
August 1, 2006... Recent articles in African Business explore issues on the African continent such as FDI, the diaspora, rising GNP, while reporting on initiatives such as the new Nelson Mandela Institution for Knowledge Building and, in the June issue, the...

Definition of democracy: of values, vices and vigilance.(THIS MONTH'S PRIZE LETTER)(Letter to the editor)
August 1, 2006... Many African leaders' have ideas about democracy that are, at best, confused. Democracy has been taken hostage and citizens are made to believe its true meaning can only come from a politicians' mouth. The world's thinking about democracy...

A reason to hope: Africa's great opportunity.(THIS MONTH'S PRIZE LETTER)(Letter to the editor)
August 1, 2006... Although frequently identified as a continent of conflict, disease, poverty, and misery, rather than being recognised for its positive aspects--Africa is increasingly showing signs of emerging into a brighter future as countries like Senegal,...

Prize Letter: win a free annual subscription!(THIS MONTH'S PRIZE LETTER)
August 1, 2006... 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...

"Get our copper to the port on time".(Transport)(Zambia grants rail construction tax break)(Brief article)
August 1, 2006... In a hurry to cash in on the commodities boom, Zambia has granted a railway construction company a $35m tax break if it speeds up work on the Copperbelt-to-Luanda Benguela line to expedite its exports of copper and cobalt to European and north...

Inga looking for funds.(Inga Hydroelectric project)(Brief article)
August 1, 2006... The Democratic Republic of Congo says its gigantic hydropower facility on the Inga River is the answer to Africa's electrical power shortage. The DRC's Energy Ministry says it's on the hunt for investors to fund $40bn needed to extend the Inga...

China's Zimbabwe play.(Power)(Brief article)
August 1, 2006... China will help Zimbabwe establish new coal mines and build three thermal power stations, the state-owned Herald newspaper has reported. The $1.3bn deal between the China Machine-Building International Corporation (CMEC) and two Zimbabwean...

Billions going begging.(Investment)
August 1, 2006... If the countries of the Southern African Development Community (SADC) could only get their act together, several billions of dollars would become available by the private sector willing to invest in infrastructure in the region. However, big...

G8--time to keep their promises.(Development)
August 1, 2006... United Nations secretary-general, Kofi Annan will lead a panel of international heavyweights to dig for reasons why key G8 commitments to help Africa have not been met. Funded by Microsoft billionaire Bill Gates, the group includes Bob Geldof...

Eight African HIPCs back in the red.(Debt)(Brief article)
August 1, 2006... According to a report by an independent group of the World Bank, eight highly-indebted poor countries (HIPC) have reverted to unsustainable levels of debt. The debt ratios of Burkina Faso, Ethiopia, Ghana, Mali, Mauritania, Rwanda, Tanzania and...

Nigeria's women-only credit line.(Finance)(Access Bank)(Brief article)
August 1, 2006... "Women are a driving force in the African economy, but their access to finance is still far too small," declared Declan Duff, vice-president of the IFC's industries section, which is why "the IFC is partnering with Nigeria's Access Bank to...

Substandard transport infrastructure a drag on Africa's development.(Infrastructure)(Brief article)
August 1, 2006... Africa will have to spend upwards of 4% of gross domestic product every year for the next decade if it is to bring its roads up to an acceptable standard. This is the finding of a new OECD report that says transport infrastructure, crucial to...

AB guide to African currencies.(African Business)(Statistical table)
August 1, 2006... AB Guide to African Currencies Country Currency [pounds sterling]STG Algeria (Dinar) 138.43 Angola (New Kwanza) 149.43 Benin (CFA) ...

Fighting for investment dollars.(EDITORIAL)
August 1, 2006... Last month I was invited to deliver a keynote speech at an important conference organized by the University of Illinois, Chicago and I believe I learnt some valuable lessons. The conference was on corporate social responsibility. It was...

Africa's exploding cities.(United Nations Habitat's World Urban Forum III )
August 1, 2006... The UN-Habitat's World Urban Forum III which was held in Vancouver, Canada in June was perhaps the most significant global congregation so far of this new millennium. The theme was 'Sustainable cities'. The first ever UN Conference on Human...

Bioko destination for Nigerian gas? A Heads of Agreement expected to be signed later this year could well lead to a new LNG project in Bioko. Under the arrangement, Nigeria will pipe gas from its sites that are closer to Equatorial Guinea than the Nigerian mainland to Bioko for processing before onward transportation to the US. Neil Ford reports.(Energy)
August 1, 2006... The government of Equatorial Guinea has long hoped to develop Bioko as a major oil and gas centre for the entire Gulf of Guinea region. Although the country has emerged only as a major player in the sector over the past seven years, Malabo has...

Nigerian power unbundling hits snags: one of Nigeria's biggest economic hurdles has been its erratic power supply. This is a long-running saga with many twists and turns but as yet no practical solutions. The decision to unbundle the national power authority and sell it off piecemeal promised much but has now run into snags.(Power Holding Company of Nigeria)
August 1, 2006... The planned privatisation of the Power Holding Company of Nigeria (PHCN) is expected to be delayed because of difficulties encountered in the unbundling of the company. [ILLUSTRATION OMITTED] The National Electric Power Authority...

The lungs of commerce: many senior figures from Africa's ports and rail sectors attended the African Ports and Harbours Congress--co-located with the AfricaRail 2006 conference and exhibition--to hear government and industry experts describe the latest developments in Africa's all important trade-transport logistics infrastructure. Stephen Williams reports.(African Ports and Harbours)
August 1, 2006... The African Ports & Harbours Congress, held on 29-30 June at the Gallagher Estates in Midrand, Gauteng, South Africa, brought together many senior figures from the industry for two days of intensive discussions, debates and networking. This...

Scanning the plan.(African Ports and Harbours)
August 1, 2006... International trade is one of the principal generators of economic growth. It was estimated by UNCTAD in 2003 that up to 80% of the world's six billion tons of cargo traded each year is moved by ship through ports. Africa's ports are now...

Lonrho expansion plans for Luba Freeport.(CORPORATE STATEMENT)
August 1, 2006... Lonrho Africa has announced that Luba Freeport Ltd (Luba), Lonrho Africa's 63% owned subsidiary, has appointed Jurong Primewide Pte Ltd (Jurong) to plan and design the expansion of its port facilities in Equatorial Guinea. Jurong is...

Productivity pays dividends: Dar es Salaam is recognised by the World Bank as one of Africa's most productive ports and, as the port's manager Jason Rugaihuruza explains, it is now perfectly placed to meet the various challenges ahead. Stephen Williams reports.(African Ports and Harbours)
August 1, 2006... Twenty years ago, no one would take seriously the suggestion that Tanzania's main port at Dar es Salaam could ever represent a paragon of productivity. In the early 1990s, Dar es Salaam served as the principal port for the UN World Food...

Africa's flashes of genius.(PRODUCT & PROCESSES)
August 1, 2006... Last month African Business reviewed a number of the winning entries in the World Bank's 2006 Global Development Marketplace competition. The contest calls for bright ideas that can be replicated in the field and that tackle problems in...

The fun and games have begun: after probably the best World Cup event ever in Germany, the spotlight has already fallen on the next host, South Africa. President Thabo Mbeki has pledged to make this the best Cup ever. But, as can be expected, the wrangling has started. Tom Nevin presents the first of occasional pieces dedicated to the World Cup preparations.(COUNTDOWN TO 2010 WORLD CUP)
August 1, 2006... Not a week had passed from the handing over to South Africa of the next soccer World Cup when the commercial infighting began. The country's biggest banking group, Absa, accustomed to having its way in light of its awesome financial muscle, was...

How SA's black buying power is changing society: African Business has reported, in earlier issues, on the positive impact of the black consumer boom on South Africa's economy. In the following article, Sarah Rundell takes a more detailed look at the various components of black consumer power and how this is changing South African society.(TOPIC)
August 1, 2006... Umlazi Megacity, just outside Durban in South Africa's KwaZulu Natal, opened only four months ago but already the development is fully let and prospective retailers must join a waiting-list. The R555m ($77m) mall, home to every type of...

New club triggers race tensions: black South Africans have been left in an intellectual limbo and need to correct this by organising themselves into discussion and debating forums. This seems to be the rationale of a new club whose members are black intellectuals. But, asks Tom Nevin, can a multiracial S Africa allow a 'blacks only' organisation?(SPOTLIGHT)
August 1, 2006... Since its existence became public, the passage of The Native Club, South Africa's latest hot potato, has been a baptism of fire. At the outset it was accused of appropriating the politically loaded label 'native' for its own ends and, more...

Demand for South African vehicles doubles: South Africa, enjoying strong economic growth, has seen a boom in its automotive industry with both exports and local demand for vehicles doubling over last year. Neil Ford explains the forces behind this growth.(SOUTH AFRICA)
August 1, 2006... The process of creating a more broadly based South African economy has been given a boost by the country's growing automotive sector. While economic growth has picked up over the past two years and the tourist sector continues to record strong...

Transport system upgrade begins: one of the legacies of Portuguese colonial rule in Mozambique was a very poor transport infrastructure which left many productive parts of the country isolated. The limited rail system then became a target during the civil war, adding to the logistical problems. But, as Neil Ford reports, new plans could change the picture.(MOZAMBIQUE)
August 1, 2006... Mozambique's economic record over the past 15 years has rightly been praised. Annual GDP growth of 10% has become the norm, large-scale foreign direct investment (FDI) has helped to boost government revenues and Maputo is certainly making the...

Red tape slashed to lure investors: Mauritius has once again taken the lead in business development in Africa. It is slashing red tape and bureaucratic hurdles in order to encourage more people to invest and it is making it easy for foreigners to set up homes in the island state. Nasseem Ackbarally reports from Port-Louis.(MAURITIUS)
August 1, 2006... Mauritius' finance minister, Rama Sithanen, could not have been clearer in expressing the government's intentions to move the economy forward. In his budget speech he said: "Mauritius needs foreign investment and support from its external...

The Lenovo Affair: The Growth of China's Computer Giant and its Takeover of IBM-PC.(Book review)
August 1, 2006... The Lenovo Affair The Growth of China's Computer Giant and its Takeover of IBM-PC By Ling Zhijun Translated by Martha Avery [pounds sterling]16.99 John Wiley ISBN: 0-470-82193-0 China's recent economic growth and, in...

The Wonga Coup.(Book review)
August 1, 2006... The Wonga Coup By Adam Roberts [pounds sterling]9.99 Profile Books ISBN 1-86197-934-7 [ILLUSTRATION OMITTED] In March 2004 Nick Du Toit confessed to 'the Wonga Coup'--an attempt to overthrow the government of Equatorial...

Economics: Making Sense of the Modern Economy.(Book review)(Brief review)
August 1, 2006... Economics Making Sense of the Modern Economy By Simon Cox [pounds sterling]20 The Economist ISBN 1-86197-545-7 [ILLUSTRATION OMITTED] This book is a very substantially revised edition of the previously successful...

Nyerere on Education: Edited by Elieshi Leme, Marjorie Mbilinyi & Rakesh Rajani.(Book review)(Brief review)
August 1, 2006... Nyerere on Education Edited by Elieshi Leme, Marjorie Mbilinyi & Rakesh Rajani [pounds sterling]18.95 Mwalimu Nyerere Foundation (Tza) ISBN 9987-8943-5-6 [ILLUSTRATION OMITTED] Tanzania finds itself at an important...

The Cultural Advantage: A New Model for Succeeding in Cultural Teams.(Book review)
August 1, 2006... The Cultural Advantage A New Model for Succeeding in Cultural Teams By Mijnd Huijser [pounds sterling]14.99 Nicholas Brealey Publishing ISBN 9781-9319-302-8-4 [ILLUSTRATION OMITTED] It is all too common--and...

The Obituary Tango: A Selection of Writing form the Caine Prize for African Writing.(Book review)(Brief review)
August 1, 2006... The Obituary Tango A Selection of Writing from the Caine Prize for African Writing Various Authors [pounds sterling]14.99 Jacana Press (SA) ISBN 1-77009-211-0 [ILLUSTRATION OMITTED] Monday Morning by the Nigerian...

A Nose for Money.(Book review)(Brief review)
August 1, 2006... A Nose for Money By Francis B Nyamnjoh [pounds sterling]11.95 East Africa Educational Publishers ISBN 978-9966-25-427-6 [ILLUSTRATION OMITTED] Set in the fictional and reluctantly bilingual country of Mimbo in...

2006 Caine Prize.(Brief article)
August 1, 2006... Mary Watson from South Africa has won the seventh annual Caine Prize for African Writing, Africa's leading literary prize, for Jungfrau, from her short story anthology Moss published by Kwela Books. The chair of the judges, Dr Nana...

Kulimatji Nge: Various Artists.(Audiobook review)
August 1, 2006... Kulimatji Nge Various Artists Double Storey ISBN 1-919930-66-7 [ILLUSTRATION OMITTED] Although as much a book as a CD, hence the ISBN number rather than a CD catalogue code, this is nevertheless a remarkable recording of...