African Business articles from February 2004

African Business archives from February 2004

Investment: measure quality, not quantity.(This Month's Prize Letter)(Letter to the Editor)
February 1, 2004... I was very interested to read in your magazine of the massive growth of global foreign direct investment reaching Africa (Africa's Hunt for Investments--African Business, December 2003 issue). In this article you say that the rule of thumb...

Win a free annual subscription!(Prize Letter)
February 1, 2004... 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...

Capital flight: Eurocentric hypocrisies.(Letters)(Letter to the Editor)
February 1, 2004... The January issue of African Business carried as its prize-winning letter a missive from Dr Ian Taylor of the University of Botswana that raises issues that must be challenged. Dr Taylor is, of course, absolutely right to raise the issue of...

Runaway inflation: the Zimbabwe tragedy.(Letters)(Letter to the Editor)
February 1, 2004... Your report regarding the level of inflation in Zimbabwe (Business Briefs, African Business January 2004) was accurate, but perhaps told only part of the story of the tragedy that has befallen many innocent Zimbabweans. Did you know that...

Scams 2003: US warning.(Letters)(Letter to the Editor)
February 1, 2004... Further to your feature article on the most popular scams of 2003 (African Business January 2003), I thought your readers might be interested in what the US Federal Trade Commission has identified as the dozen most common scams to arrive in an...

Trade: Zim still S Africa's best trade partner.(Business Briefs)(Brief Article)
February 1, 2004... Economic crash or not, Zimbabwe remains South Africa's main trading partner in Africa. Figures from the SA Department of Trade and Industry show that Zimbabwe imported R4.8bn worth of goods from South Africa between January and September last...

Land reform: new law alarms SA's white farmers.(Business Briefs)(South Africa)(Brief Article)
February 1, 2004... Mindful of the farmland chaos in neighbouring Zimbabwe, the South African government is to speed up expropriation of white-owned land under legislation recently signed by President Thabo Mbeki. The measure assigns to the Minister of Agriculture...

Food aid: food funds for southern Africa fall.(Business Briefs)(Brief Article)
February 1, 2004... A decrease in donor funds for its feeding schemes has forced the World Food Programme (WFP) to halve its cereal ration in the region. Hardest hit is Zimbabwe where, according to WFP spokesman Mike Huggins, the number of Zimbabweans needing food...

Equities: emerging markets to boom in 2004?(Business Briefs)(Brief Article)
February 1, 2004... The upturn in the economy of industrialised nations awaited in 2004 will have a major impact on emerging market equity funds, according to EmergingPortfolio.com. The research company says dedicated emerging market equity funds received $11.5bn...

Power: Namibia to power up on gas.(Business Briefs)(Brief Article)
February 1, 2004... Massive supplies of offshore gas hold the key to reliable and inexpensive power for Namibia and western regions of South Africa. Discussions that could lead to the construction of an 800MW gas-fired power station in Namibia are underway...

Development: rebuilt railway to reopen in central Moz.(Business Briefs)(Mozambique)(Brief Article)
February 1, 2004... Mozambique's rapid economic development receives another fillip this year with the launching of the Lower Zambezi Valley Spatial Development Initiative (SDI)--a multibillion-dollar project that will reopen up vast territory in central...

Oil: Zambia exports fuel to Zim.(Business Briefs)(Brief Article)
February 1, 2004... Zambia has begun exports of fuel to neighbouring Zimbabwe and the Democratic Republic of Congo (DRC), a government official has confirmed. The non-oil producing country is to spend some $75m on improvements to its crude storage and...

Governance: reward for Kenya.(Business Briefs)(Brief Article)
February 1, 2004... Kenya's commitment to root out corruption and return the country to good governance has returned handsome dividends. International donors have pledged $4.1bn over the next two years to assist in Kenya's economic recovery. Said Finance Minister...

Gas: US deal with Nigeria.(Business Briefs)(Brief Article)
February 1, 2004... Nigeria took another step towards becoming a major global gas provider with the signing of a deal to supply 3bn cubic metres of gas a year to the US. Nigeria Liquefied Natural Gas (NLNG) says gas is the key sector for increasing profits from...

AB Guide to African currencies.(Business Briefs)(Illustration)
February 1, 2004... AB Guide to African Currencies COUNTRY CURRENCY [pounds sterling]STGO ALGERIA (Dinar) 129.06 ANGOLA (New Kwanza) 143.85 BENIN (CFA) ...

Sudan's moment of truth.(Editorial)
February 1, 2004... As we entered 2004, it appeared that one of Africa's most longed for New Year wishes would come true: peace would descend on Sudan, bringing to an end the longest war in modern history. Now it seems, we might have celebrated a little too soon....

African-Americans: the new powerful elite.(Cover Story)
February 1, 2004... Black History Month is a time of renewal for the African-American community in the US. This month's celebrations are an opportunity to take pride in business, cultural, and political achievements. Milan Vesely provides this comprehensive...

New Year blues for the US dollar: the dollars' decline against major international currencies has so far been orderly and has caused few worries in the US. Others however, worry that a cheaper dollar could hit the world's economic growth.(View from the City)
February 1, 2004... A renewed focus on the structural imbalance of the US's $10 trillion economy, and persistent jitters over the threat of terrorism, have pushed the greenback to historical lows against the world's leading currencies in 2003, and the currency's...

African economies rank high in global league.(Topic)
February 1, 2004... The latest Economic Freedom of the World Report, while limited in its scope, provides an opportunity to see how African economies fare in comparison with the rest of the world. As NEIL FORD reports, Africa comes out looking good. ...

Africa 2025-the lion chronicles.(Special Focus)
February 1, 2004... What will Africa be like in 2025? The UNDP asked this question as part of a major research programme and came up with a number of likely scenarios--some positive, some negative. Which will outweigh the other depends largely on Africans...

Robust outlook for African crops.(Agricultural Commodities 2004 Projections)
February 1, 2004... Tangible evidence of an upturn in the global economy--projected by the International Monetary Fund to expand at 4.1% this year--and a weakening US dollar over recent months, have underpinned commodity markets. MOIN SIDDIQI presents a...

NNPC faces funding dilemma: the Nigerian National Petroleum Corporation, (NNPC) cannot fully fund its share of new development costs. Ford analyses its alternative strategies.(Oil and Gas)
February 1, 2004... The new head of the NNPC, Funso Kupolokun, has admitted that the company cannot finance its share of development costs on joint ventures (JVs) with the oil majors and so additional investors may be sought. Yet rather than highlighting a sign of...

Air Senegal International revenues exceed expectations.(Aviation)(Interview)(Company Profile)
February 1, 2004... Air Senegal International(ASI) won the prestigious African Airline of the Year Award in 2003. The airline has continued to expand its routes, and entered into code share agreements with South African Airlines to serve New York and Johannesburg....

Happy landing for Ethiopian Airlines: despite the current hostile environment for international air travel, Ethiopian Airlines continues to expand and make profits. Neil Ford highlights the airline's successes.(Aviation)(Company Profile)
February 1, 2004... The global airline industry is still shaking from a series of security blows, from the 9/11 terrorist attacks in the US, to the war in Iraq and the ongoing twin fears of further terrorist campaigns and security delays. Yet Ethiopian Airlines...

Chasing Africa's millionaires.(Finance)(interview)(Interview)
February 1, 2004... As the number of individuals in Africa with high net incomes (the odd million or two) increases, so does the proliferation of 'private banks' to service their special needs. The Absa banking group is leading the South African charge. TOM NEVIN...

Victory for South African black empowerment.(Mining)(mergers and acquisitons)
February 1, 2004... A complex merger deal has created South Africa's biggest mining company owned by blacks. This is a major breakthrough in challenging the domination of white-owned businesses in the country. NEIL FORD reports. ********** The South...

West Africa's largest conference centre.(Travel Business)(Interview)
February 1, 2004... The Meridien hotel group is the largest hotel group in Africa, operating over 30 hotels and resorts throughout Africa and the Indian Ocean. Le Meridien President--located at Pointe des Almadies outside Dakar, Senegal--incorporates one of West...

Cyber medicine--panacea or cure?(Health)
February 1, 2004... Medical websites, offering instant diagnosis and cure for your ailments--real or imagined--are proliferating with such speed that health regulatory authorities worldwide are hard pressed to deal with the flood. The storm has now reached Africa...

Stylish exits: coffins to die for.(Products & Processes)(Brief Article)
February 1, 2004... Taking his cue from the old Ashanti saying "if no-one kills you, you will surely die", a Ghanaian entrepreneur is making his living out of the business of dying... and making a killing to boot. Samuel Kwei is the son of a successful...

Agriculture: simple, cheap crop-saver.(Products & Processes)(Brief Article)
February 1, 2004... Precision-guided drops of nutritionally charged water have transformed a desolate and parched, communal small holding in Eastern Cape, South Africa into a thriving farm producing a bumper crop of carrots, tomatoes, peas, beans and beetroots....

Technology: set a thief to catch a thief.(Products & Processes)(Mindsgate Media)(Brief Article)
February 1, 2004... This era of burgeoning information technology has also spawned an age of fear as billions of IT users around the world wait for their systems to be attacked by ever-more vicious viruses and worms. It seems that the industry is powerless to...

Health: Guinness Is Good For You--official.(Products & Processes)
February 1, 2004... The Irish have always maintained that "a point of the guid stof" is the universal panacea against all ills. They refer, of course, to their traditional barley-based drink of Guinness stout, a velvety black tipple with a creamy white head, so...

Smooth operators: help for the ironing bored.(Products & Processes)(Eaton )(Brief Article)
February 1, 2004... Has the end arrived for that most tedious of chores--ironing? It could be if a revolutionary new fabric lives up to its promise. The textile is produced from a new-age cotton that dries almost wrinkle-free, and then uses body heat to smooth out...

Inventions: outing rotten frozen food.(Products & Processes)(Brief Article)
February 1, 2004... One nightmare of householders, hotels and restaurants is not-knowing if the food in their freezers had thawed during one of the frequent power cuts, started to rot, then froze again when the power returned. Now, there is a way of telling....

Crime prevention: security secrets from the dark days.(Products & Processes)(Brief Article)
February 1, 2004... South Africa has turned to the boffins who once held the apartheid apparatus in place to find new ways to combat the waves of crime that are engulfing its citizens. Security technology used to protect military personnel first experimented...

Africa's thirst for business training: does Africa have too few skilled managers and business leaders? Apparently, but if the burgeoning number of business colleges in Africa is anything to go by then the situation could be reversed in a few short years. Tom Nevin reports.(Education)
February 1, 2004... If there was ever any doubt about the direction South Africa was taking in the rebuilding of its business management skills base since 1994, it has been soundly dispelled by the fact that the number of business schools in the country has grown...

The price of terror in Africa: the full cost of the terror attacks in Africa will not be known for some time yet but there is no doubt that the damage will be greater than the figures show. Neil Ford assesses the impact of the war on terror for Africa.(Focus)
February 1, 2004... While the world's attention has been focused on events in Iraq and the impact of the general global crackdown on terrorist organisations upon Middle East relations, the effect upon Africa has largely been ignored. [ILLUSTRATION OMITTED]...

Kenya: the hunt for Kenya's stolen billions.(Countryfile)
February 1, 2004... President Mwai Kibaki's relentless war on corruption has shifted gears and is now pursuing the billions of dollars siphoned out of the country during the tenure of the previous regime. Milan Vesely reports. ********** President Mwai...

Guinea: Conte retains power.(Countryfile)(Lansana Conte)
February 1, 2004... Despite failing health, President Lansana Conte's grip on power seems as strong as ever following his victory in the Guinea's elections. But, while Conte provides political stability, the economy has been stagnating. Neil Ford reports. ...

South Africa: new law will speed up land restitution.(Countryfile)
February 1, 2004... The South African government, faced with a frustratingly slow process of land restitution to blacks forced off their properties during the apartheid era, can now legally seize land for redistribution. Tom Nevin assesses the implications. ...

Morocco: fighting the enemy within.(Countryfile)
February 1, 2004... Morocco, rocked last year by terrorist bombs, has rapidly shifted gears on its reform programmes both in the economic sphere and in gender equality. As James Badcock reports, the move has begun to pay dividends. ********** Most of the...

Zambia: agriculture now the focus.(Countryfile)
February 1, 2004... The fall in the world price of copper has caused the Zambian government to rethink its economic policies and diversify its revenue base to agriculture. Hobbs Gama reports from Lusaka. ********** Copper was once Zambia's main source of...

Zimbabwe: Gono pulls banking fat from fire.(Countryfile)(Gideon Gono)
February 1, 2004... Zimbabwe's banking system came very close to total collapse last month when fears of bank failures started a run by the public and companies refused to accept cheques. Rob Rose reports. ********** Zimbabwe's Reserve Bank governor,...

The fastest road car ever: the Mercedes-Benz SLR McLaren, the fastest production road car to ever be built by Mercedes-Benz, has finally broken cover in South Africa. Stephen Williams has the story.(Mercedes-Benz SLR McLaren)(Product/Service Evaluation)
February 1, 2004... It was one of the most eagerly awaited test drive opportunities of 2003, but when Mercedes-Benz finally decided that their new sports supercar was ready to be unveiled to a carefully selected group of journalists, the location they chose was...

Who will host Africa's World Cup 2010?(Sporting Business)
February 1, 2004... In 2010 the Football World Cup will be held in Africa for the first time. The names of five African nations are in the hat to win the honour of inviting the cream of the footballing world's talent to play. JAMES BADCOCK reports on the economics...

Irrational exuberance: the bursting of an economic bubble.(Books)(Book Review)
February 1, 2004... THE ROARING NINETIES SEEDS OF DESTRUCTION BY JOSEPH STIGLITZ [pounds sterling]18.99 Allen Lane ISBN 0-713-99722-2. As chairman of President Clinton's Council of Economic Advisors for four years, and the World Bank's chief...

Globalizing Africa.(Books)(Book Review)
February 1, 2004... GLOBALIZING AFRICA EDITED BY MALINDA S SMITH [pounds sterling]21.99 AFRICA WORLD PRESS ISBN 0-86543 870-6 [ILLUSTRATION OMITTED] At the outset of the twenty-first century, Afro-pessimism permeates both the scholarly and...

The Opec Fund and Development Co-Operation in a Changing World.(Books)(Book Review)
February 1, 2004... THE OPEC FUND AND DEVELOPMENT CO-OPERATION IN A CHANGING WORLD BY Y. SEYYID ABDULAI THE OPEC FUND FOR INTERNATIONAL DEVELOPMENT ISBN 92-95037-00-6 [ILLUSTRATION OMITTED] Yesufu Seyyid Abdulai became director general and...

Story of S African music: show conquers the world.(Music)(South Africa)(Sound Recording Review)
February 1, 2004... UMOJA THE SPIRIT OF TOGETHERNESS VARIOUS ARTISTS Universal STIFCD026 The musical extravaganza, Umoja, was created in the South African township of Soweto by two women who were old school friends, Todd Twala and Thembi...