African Business articles from February 2005

African Business archives from February 2005

Africa's image: perceptions matter.(THIS MONTH'S PRIZE LETTER)(Letter to the Editor)
February 1, 2005... Belated congratulations on your 300th milestone. You are carving an important niche by enhancing Africa's image and your editorials such as 'Reprogramming the Western Media' and 'African and Proud of it' (African Business, September and...

The GM controversy: flabbergasted by theory.(THIS MONTH'S PRIZE LETTER)(genetically modified crops)(Letter to the Editor)
February 1, 2005... I was flabbergasted to see the cautionary cover story of the December issue of African Business concerning genetically modified (GM) crops. Such articles are a luxury we afford anti-business cranks in my country, which enjoys the benefits of GM...

GM leads to eco suicide.(THIS MONTH'S PRIZE LETTER)(Letter to the Editor)
February 1, 2005... Further to your cover story 'Danger! The hidden perils of GM' (African Business, December 2004) can anyone really question that genetically modified organisms (GMOs) potentially pose a major threat to the future health and wellbeing of...

Another 'wall of death': human spirit alive and well.(THIS MONTH'S PRIZE LETTER)(Letter to the Editor)
February 1, 2005... Heart-rending images of mothers weeping over their dead children stunned the world in the aftermath of the Asian tsunami catastrophe. South Africa was fortunate to escape this natural disaster, yet even more heart-breaking images--those of...

African currencies: your Somali rates are wrong.(THIS MONTH'S PRIZE LETTER)(Letter to the Editor)
February 1, 2005... Let me begin with by thanking the outstanding work of the informative magazine you publish. African Business allows me to catch up on events taking place in Africa whether I am in Melbourne or Dubai. Luckily both cities offer a wide range of...

Artists opening doors: are they really African?(THIS MONTH'S PRIZE LETTER)(Letter to the Editor)
February 1, 2005... I found Milan Vesely's article in African Business (January 2005) ingenuous. There he is trying to convince us that African artists are opening doors and being commissioned by billionaires and he cites as examples two whites who just happen to...

Prize letter: win a free annual subscription!
February 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...

Winners readership survey.
February 1, 2005... A big thank you to our readers who took the time to answer our readership survey. We have taken all your comments into consideration. They were extremely useful and interesting and will help us to produce a better magazine for you to enjoy. ...

Resources: carvers depleting Africa's forests.(BUSINESS BRIEFS)(Brief Article)
February 1, 2005... Southern Africa's mini economic boom and burgeoning tourism industry are posing a serious threat to the region's hardwood forests. A massive demand for wood carvings has all but wiped out the African blackwood in countries such as Malawi, and...

Commodities: Zim economy claws back.(BUSINESS BRIEFS)(Brief Article)
February 1, 2005... The New Year has started on a positive note for the Zimbabwe economy. Two of its forex-earning mainstays, tobacco and nickel, are on the road to recovery, with nickel production up 42% and tobacco sales heading for a 30% improvement. ...

Investment: FDI heads for Uganda.(BUSINESS BRIEFS)(foreign direct investment)(Brief Article)
February 1, 2005... Uganda registered its biggest foreign direct investment (FDI) influx last year since the early 1990s. According to the Uganda Investment Authority executive director, Dr Maggie Kigozi, investors infused about $550m into the economy in several...

Development: Sierra Leone bank defies the odds.(BUSINESS BRIEFS)(Brief Article)
February 1, 2005... Confident of a better future for Sierra Leone, Malaysia's International Commercial Bank has joined efforts to rebuild the wartorn West African nation. As reconstruction builds up a head of steam, the bank has teamed up with development partners...

Currencies: rand joins the CLS club.(BUSINESS BRIEFS)(CLS Bank)
February 1, 2005... The strengthening South African rand has become one of 15 currencies to be accepted by CLS Bank International for international foreign currency settlements. CLS Bank compresses all foreign exchange settlements into a five-hour window each...

Investments: S Africa to boost African trade.(BUSINESS BRIEFS)(Brief Article)
February 1, 2005... Africa's poor countries can expect increased help from South Africa by way of capacity-building to boost trade between the continent's strongest economy and those trapped in debt and trade imbalance. South Africa's trade and industry...

Mining: 'encouraging' gold strike in CAR.(BUSINESS BRIEFS)(Central African Republic)(Axmin)(Brief Article)
February 1, 2005... Canada's Axmin exploration company has announced the discovery of a new gold prospect in its Passendro prospect area of the Central African Republic. "Our success rate of making new gold-bearing ore discoveries is extremely high," says Axmin's...

Transport: growth hurt by decrepit rail systems.(BUSINESS BRIEFS)(Brief Article)
February 1, 2005... Africa's railway networks are two to three decades behind their counterparts in the developed world and many companies, especially those in the mining industry, are becoming anxious about capacity constraint. According to GE Transportation...

Trade: 2005 PTA target for India, SACU.(BUSINESS BRIEFS)(preferential trade agreement)(Southern African Customs Union)(Brief Article)
February 1, 2005... Although there is no formal time frame for the conclusion of the much-vaunted preferential trade agreement (PTA) between the Southern African Customs Union (SACU) and India, indications are high that it will happen this year. "We're looking at...

AB guide to African currencies.(BUSINESS BRIEFS)(Illustration)
February 1, 2005... AB Guide to African Currencies COUNTRY CURRENCY [pounds sterling]STG ALGERIA (Dinar) 134.73 ANGOLA (New Kwanza) 162.73 BENIN (CFA) ...

Dogs of War bite their own tails.(EDITORIAL)
February 1, 2005... During the 1960s, I came across a newspaper article by an 'old Africa-hand journalist' which was short for somebody who had spent time in Africa and therefore immediately qualified as an 'expert' on the continent; he began his piece thus:...

Live now, pay later.(Britain's Gordon Brown's Africa recovery plan)(Cover Story)
February 1, 2005... Britain's Chancellor of the Exchequer, Gordon Brown, completed a six-day, four nation tour of Africa last month. This was to launch his version of the famous US Marshall Plan, but this time directed at fighting poverty in Africa. He has called...

African bourses: top performances reveal hidden potential; African bourses, shielded from the sort of global turbulence that has affected more mature stock exchanges, have performed exceptionally well. But, Moin Siddiqi says, South Africa apart, there is still plenty of room to improve.
February 1, 2005... The turbulence of the mainstream Western stock markets, and the low yields offered by the traditional safe-haven government debt of the US, Europe and Japan, has left institutional investors with little option but to take defensive measures....

Cocaine kings target Kenya: the seizure, on Kenya's tourist-paradise coastline, of the largest ever drugs haul in Africa has confirmed worries that sophisticated drug smugglers from South America have targeted this East African country as a base for their operations.(DATELINE USA)
February 1, 2005... Warm sea breezes, swaying palm trees and a laid-back lifestyle have made the Kenyan coast the number one African destination for European tourists. But now this East African paradise is also gaining a reputation for a seamier side of life. ...

Egypt enters ranks of world's top gas producers: Egypt's oil production has been steadily declining but a 20-year plan and substantial investment in the gas sector should more than compensate for the oil production loss. Egypt could, in fact, become the world's sixth largest LNG producer by the end of this year.(oil and gas)
February 1, 2005... Many African countries with dwindling oil reserves have sought to compensate by developing their natural gas resources. Egypt, however, is going one step further, and its growing gas sector is likely to play an even bigger role in its economy...

Industry backlash over cheaper drugs: faced with a rising demand for medical drugs from the country's poor, the government of South Africa put a clamp on the retail prices of medications--leading to a howl of protest from the pharmaceutical industry. The matter is now with the country's highest court. Tom Nevin reports.(health)
February 1, 2005... First it was a round of court battles over government foot-dragging in the treatment of HIV/Aids sufferers, now legal clashes are legion over the state's attempts to drive down the price of medicines. [ILLUSTRATION OMITTED] "I have...

Gold fever in Kakemega: with the world gold price nudging $400 an ounce, and widespread drought affecting many parts of western Kenya, the lure of the precious metal is back in full force--and this time it is local Kenyans that are benefiting. Milan Vesely reports.(mining)
February 1, 2005... With the gold price soaring, just one thimble-full of the shimmering metal dust is enough to buy a cow in Kenya--perhaps even two. Peasant farmers in Kenya's Kakemaga district, bordering Lake Victoria, have been quick to cotton onto the rising...

Terror code puts extra burden on African ports: the International Ship and Port Facility Security Code (ISPS) was created last year out of fears of a 9/11-type terrorist attack on US ports. However, implementing the code is expensive, but ignoring it means losing US trade. How can African ports cope? Neil Ford analyses the code and its impact.(PORTS AND SHIPPING)
February 1, 2005... The 9/11 terrorist attacks upon the US have had many unanticipated effects but none were more unexpected than new investment in African port security and processing systems. [ILLUSTRATION OMITTED] Fears of a terrorist attack using...

Fertility treatment: US would-be 'moms' shop for South African eggs.(Brief Article)
February 1, 2005... South Africa is becoming a favourite destination for would-be American 'moms' looking for fertility treatment. A US agency is organising 'fertility safaris' to Cape Town and is offering local women R13,000 ($2,158) to donate their eggs. ...

Telecoms: mobile market finder for Kenya farmers.(mobile telecommunications provides information management services to agricultural industry)(Brief Article)
February 1, 2005... Smallholder farmers in Kenya have long suffered an information disadvantage. With few updates on the shifting agricultural markets, they could not make informed decisions on the best times to buy and sell, and they were commonly exploited by...

New world order? Henry's wonderful tree-saving calendar.(physicist and astronomer Richard Henry devised new calendar technique)(Brief Article)
February 1, 2005... Would the world be a better place if the calendar were to remain static? If you were born on a Monday, your birthday would always fall on a Monday? Christmas would always happen on a Sunday, say? Well, if Professor Richard Henry, physicist...

Fowl idea: the Eglu-what every discerning bird should have.(Omlet Ltd. launches new pet housing facility)(Brief Article)
February 1, 2005... Latest thing for suburban homeowners is to awake to the gentle clucking of chickens and a newly-laid egg or two for breakfast--all happening in your garden. Recently on the market, and already hitting cult status in Europe, US and the Far East,...

Cough cure breakthrough: chocolate--the best medicine.(Brief Article)
February 1, 2005... Good news for chocaholics--not so good for the pharmaceutical industry. A British study conducted at London's Imperial College shows that eating chocolate could be a better way of stopping persistent coughing than anything available from the...

Virgin enters Nigeria: one of the world's most flamboyant entrepreneurs, Britain's Richard Branson, has now turned his attentions to Nigeria with the setting up of Virgin Nigeria airlines--a de facto national carrier. But, Neil Ford reports, route disputes with the US could darken the skies somewhat.(AVIATION)
February 1, 2005... Despite the presence of millions of small-scale entrepreneurs who ply their trade on the streets of Nigeria's cities every day, the country is yearning for an injection of entrepreneurial spirit. Decades of economic mismanagement and military...

Air Senegal builds on success: with more passengers, more revenues and more routes, Air Senegal International is continuing to grow at a rapid rate. Stephen Williams talked to the company's CEO Farid Senhaji about recent developments.(chief executive officer of Air Senegal International)(Interview)
February 1, 2005... African Business: You became Air Senegal International's (ASI) CEO last year. What was your previous position? Farid Senhaji: I became the directeur-general, or chief executive officer, of Air Senegal International (ASI) on March 9 of 2004....

Giant aircraft will boost military muscle: a multibillion rand order for the Airbus A400M troop and equipment air carriers means SA can intervene in trouble spots in sub-Saharan Africa quickly and effectively. But there are those who say the money could have been better used in other sectors. Tom Nevin reports.(South Africa)
February 1, 2005... The announcement came out of the blue, and it was the clearest signal yet that South Africa has accepted the role of Africa's policeman. In a short statement, the government said it had ordered up to 14 gargantuan, high-tech military carrier...

Buying fever hits Lagos as state unbundles housing: the property market in Nigeria's commercial capital, Lagos, has been buzzing since more than 1,000 housing units in the fashionable Ikoyi area were released by the state for sale to the public. Ola Sheyin has the story.(Nigeria)
February 1, 2005... The Nigerian government is continuing with the downsizing of its landed-property portfolio in its erstwhile capital city of Lagos. [GRAPHIC OMITTED] In a recent announcement, a list of 1,105 housing units for sale in the sought-after...

Economy continues impressive performance: Tanzania, once the 'poor man' of East Africa, continues to chalk up impressive economic growth rates on the back of a boom in gold mining. Neil Ford argues that being broad-based, Tanzania's growth level is likely to be sustained over the near future.
February 1, 2005... The Tanzanian economy continues to perform impressively. GDP growth fell only slightly during the 2003-04 financial year, to 5.6%, down from an average of 6% since the turn of the millennium. While oil-rich countries are able to register double...

Voters stay away but Frelimo romps home: apathy characterised the presidential and legislative elections in Mozambique. These are sure signs, says Tom Nevin, that the public is losing confidence in the ability of the ruling party, Frelimo, to deliver on its promises.
February 1, 2005... It is said that the most momentous of elections are held in times of crisis: in economic chaos, political upheaval and social dissatisfaction. If the converse is true then, in Mozambique, apathy rules. Its December 2004 poll was characterised...

Fighting eats up vast economic potential: DR Congo, one of the largest countries in the world, is slowly gearing itself up for national elections in about five months' time. In the meanwhile, fighting among a bewildering variety of interest groups is holding back real economic progress. Neil Ford reports.(Democratic Republic of Congo)
February 1, 2005... Attempts to get Democratic Republic of Congo (DR Congo) politically and economically back on its feet are being undermined by several persistent conflicts, particularly in the north-east of the country. [GRAPHIC OMITTED] DR Congo...

Troubled Telkom Kenya finds S African suitor: despite government pledges, the privatisation of Kenya's only fixed-line telecoms provider, Telkom Kenya, has proved problematic. But, as Derek Otieno reports, a suitor for the troubled corporation may be now be waiting in the wings.(Kenya)(Telkom Societe Anonyme Ltd. to acquire stakes in kenyan telecommunications company)
February 1, 2005... South Africa's fixed-line operator Telkom SA is keen to take a stake in Telkom Kenya and has held talks with Kenyan authorities about a possible investment, a senior Telkom SA executive confirmed. [GRAPHIC OMITTED] But Mike Mlengana,...

King's Brazil visit opens up new trade horizon: King Mohammed VI's first ever visit to Brazil at the tail end of last year is already yielding positive economic results. A free-trade agreement between Latin-American and Arab trading blocks is also on the cards. Faycal Belhassan reports.(Morocco)
February 1, 2005... The first-ever visit by a Moroccan king to Brazil finally took place in November last, after years of work done by Lauro Moreira, director of the Brazilian Agency of Cooperation and former ambassador in Rabat. [GRAPHIC OMITTED] ...

Formula One to roar again in Africa: South Africa has been given the green light to stage Formula One races from 2008 onwards. The financial and publicity benefits for the country will be enormous--but the issue of tobacco sponsorship may throw a spanner in the works.(sporting business)
February 1, 2005... A South African consortium is determined to press ahead in its bid to stage a series of Formula One races in Cape Town from 2008 onwards. [ILLUSTRATION OMITTED] An unlikely combination of media and construction companies is driving the...

Revealing the rivalries: memoirs of a dissenting UK minister.(Book Review)
February 1, 2005... AN HONOURABLE DECEPTION NEW LABOUR AND THE MISUSE OF POWER BY CLARE SHORT [pounds sterling]15.00 Free Press ISBN 0-7432-6392-8 Just as the spotlight of the world's political order was moving--from a focus on last...

The Search for Nefertiti: The True Story of an Amazing Discovery.(Book Review)
February 1, 2005... THE SEARCH FOR NEFERTITI THE TRUE STORY OF AN AMAZING DISCOVERY by Joann Fletcher ISBN 0-340-83154-5 Nefertiti--the beautiful--is one of Egypt's most compelling and mysterious figures. Wife of the controversial pharaoh...

Aspirin: The Remarkable Story of a Wonder Drug.(Book Review)
February 1, 2005... ASPIRIN THE REMARKABLE STORY OF A WONDER DRUG BY DIARMUID JEFFREYS [pounds sterling]16.99 Bloomsbury ISBN 0747570779 Aspirin is effective not only against everyday ailments, but is also useful as a preventative treatment...

The Globalization Gap.(Brief Article)(Book Review)
February 1, 2005... THE GLOBALIZATION GAP BY ROBERT A ISAAK [pounds sterling]16.99 Prentice Hall ISBN 0-13-142896-9 Globalisation is a fact of life, but how can we keep the poor from being left behind forever? Globalisation may be inevitable and...

Scram from Kenya! From Colony to Republic.(Brief Article)(Book Review)
February 1, 2005... SCRAM FROM KENYA! FROM COLONY TO REPUBLIC BY JAMES FRANKS [pounds sterling]25 Pomegranate Press ISBN 0-9542587-5-4 In September 1946 Jomo Kenyatta returned from 15 years in Europe, mainly in England, to play a major part...

Basil D'Oliveira; Cricket and Conspiracy: The Untold Story.(Book Review)
February 1, 2005... BASIL D'OLIVEIRA CRICKET AND CONSPIRACY: THE UNTOLD STORY BY PETER OBORNE [pounds sterling]16.99 Little Brown ISBN 0-316-72572-2 The story of how Basil D'Oliveira defied South African apartheid, escaped the back streets...

Seizing the airwaves: tune in if yu Rankin'.(radio broadcasting)
February 1, 2005... REBEL RADIO DREAD BROADCASTING CORPORATION Trojan CAT: TJDD 167 Three decades ago, as Bob Marley blazed a trail to make reggae a huge pop-music success, there was reluctance on the part of big music companies to recognise it...