African Business articles from June 2004

African Business archives from June 2004

Africa's goals: forget the past, look to the future.(This Month's Prize Letter)(Letter to the Editor)
June 1, 2004... I am a teenager who has just completed a number of 'O' level courses. As I await my results I have become a 'magazine worm', surfing through your analysis of Africa's economic situation, and looking for the opportunities that might lie ahead....

Prize letter: win a free annual subscription!(This Month's Prize Letter)(Brief Article)(Letter to the Editor)
June 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...

African media: we are also part of the problem.(This Month's Prize Letter)(Letter to the Editor)
June 1, 2004... I discovered your reputable magazine only a year ago and have been glued to it ever since. The editorial of your May edition, 'Reprogramming the Western media' was very brilliant. Please permit me to make some comments. In my opinion...

Causes of poverty: is it just our fate?(This Month's Prize Letter)(Brief Article)(Letter to the Editor)
June 1, 2004... Please allow me to make some belated comments regarding the editorial of Mr Anver Versi published in the March 2004 issue of African Business titled 'The West faces a stark choice'. This short editorial, I am sure, will have touched the...

The FDI debate: capital is the real key.(This Month's Prize Letter)(Brief Article)(Letter to the Editor)
June 1, 2004... It has been fascinating to read your recent issues regarding Africa's economy, and especially your December issue with the cover story 'Africa's hunt for foreign investment'. While I generally tend to agree with much of the editorial...

Telecoms: jumbo-size cellphone problem.(Business Briefs)(emergence of african market)(Brief Article)
June 1, 2004... Africa is the next big market for cellphone manufacturers. According to Allen Burnes, Motorola's VP for emerging markets, first world markets are reaching saturation point and the competition hustle is hotting up in the increasingly lucrative...

Legal: Lesotho corruption appeal backfires.(Business Briefs)(Brief Article)
June 1, 2004... An appeal court application in Lesotho by a giant German engineering consulting group has backfired to the tune of R1.5m. The Maseru court not only upheld the bribery and corruption conviction of Lahmeyer International in the Lesotho Highlands...

Investment flows: private capital by-passing poor countries.(Business Briefs)(World Bank report)(Brief Article)
June 1, 2004... Net private capital flows to developing countries as a whole rebounded to $200bn in 2003, up from $155bn in 2002, but most of the increase is concentrated in just a few relatively better-off countries, while official development assistance to...

Investment: 3,000 flock to Libya's trade fair.(Business Briefs)(reapprochement promises funds inflow)(Brief Article)
June 1, 2004... Libya's rapprochement with the West and its promise to abandon weapons of mass destruction programmes are showing signs of payback. Its recent trade fair in Tripoli attracted over 3,000 foreign exhibitors from 40 countries, twice last year's...

Paris club debt: penalties skyrocket Nigeria's foreign debts.(Business Briefs)(Brief Article)
June 1, 2004... Nigeria can afford to pay just $1bn of its nearly $3bn debt obligation to the Paris Club of creditors this year. The Club accounts for 82% of Nigeria's total foreign debt. According to Nigerian cabinet minister Nasir El-Rufai, a $3bn loan by...

Privatisation: Nigeria to sell shares in oil refineries.(Business Briefs)(Brief Article)
June 1, 2004... The Nigerian government is to sell off its 51% stake in four oil refineries that, it says, are under-performing. The installations, with a total installed capacity of 450,000 barrels a day, are located at the southern coastal cities of Warri,...

Privatisation: zim state assets under the hammer.(Business Briefs)(Brief Article)
June 1, 2004... Zimbabwe is to accelerate the selling off of its state-owned assets to raise cash and attract foreign investment. Likely to come under the hammer are the national carrier Air Zimbabwe, Cold Storage Commission (abattoir services), National...

Leadership: Sam says goodbye.(Business Briefs)(Sam Nujoma's presidential bid)(Brief Article)
June 1, 2004... President Sam Nujoma has finally abandoned seeking a fourth presidential term. The Namibian leader had the constitution changed to allow him a third term and, appeared determined to seek a fourth term, currently barred by the constitution....

Nepad peer review: Kenya delays scrutiny.(Business Briefs)(New Partnership for Africa's Development)(Brief Article)
June 1, 2004... Increased foreign investment could be on the line as Kenya delays going under Nepad's peer review microscope for a year while President Mwai Kabaki grapples with his ruling coalition partners over the extent of presidential powers under a new...

AB guide to African currencies.(african business)(Illustration)
June 1, 2004... AB Guide to African Currencies COUNTRY CURRENCY [pounds sterling] $US EURO STG ALGERIA (Dinar) 124.55 70.78 83.91 ANGOLA ...

The lessons of Abu Ghraib.(human rights abuses in africa)
June 1, 2004... Most of us are familiar with the Biblical parable, warning us not to criticise the speck in another's eye before removing the splinter in your own. Over the past month, the world has watched horrified as a series of images from hell have...

Enough talk; Africa now wants results.(WEF's Maputo Africa Economic Summit 2004)(director's views)(Interview)(Cover Story)
June 1, 2004... The 14th pan-African Economic Summit, arranged by the World Economic Forum (WEF) in Maputo, Mozambique this month will attempt to put muscle on Nepad's policy bones. [ILLUSTRATION OMITTED] The World Economic Forum is an independent...

Penny shares become sexy: small listings on African stock exchanges, as well as bourses throughout the world, are suddenly back in vogue and posting returns their gilt counterparts are finding impossible to match.(View from the City)
June 1, 2004... Throughout the 1990s, major counters were the rage. The expanding blue chip market crowded out smaller companies to the extent they hardly got a look in or were given a second glance. Fired by last decade's blue chip rally, stock markets' big...

Africa's rail renaissance: large sums of money are being spent all over Africa to reconstruct old railway systems and install new ones. The advantages of rail over road have been obvious for quite a while but investment has been lacking. Now the money is there. Is this a new age for African transport? Asks Neil Ford.(Transport)
June 1, 2004... During the colonial period, the construction of railways across the African continent was a major priority. Prior to the development of motor vehicles, there was no better way to transport goods from the interior to the coastal ports of each...

Abuja the first choice for investors.(Abuja Investment and Property Development Company Limited's CEO tells)(Interview)
June 1, 2004... The Federal Capital Territory of Nigeria (FCT), with its unspoiled environment, rapidly growing population and pleasant climate, offers vast opportunities for investment in all economic sectors. Abuja Investment and Property Development Company...

Agriculture: Kelpak--turning seaweed into big cash.(Products & Processes)
June 1, 2004... Three things are unusual about Kelpak. It's a global best seller even though it's one of the most expensive in its category; it's a plant growth-booster, but does not rely on genetics; and it is derived from one of nature's most abundant...

Ivorian conflict dissuades investors: at present, Cote d'Ivoire has a small oil and gas sector but its potential, according to industry experts, is large. However, political instability has brought promising new discoveries to a complete halt, robbing the country of urgently needed income.(Oil and Gas)
June 1, 2004... While wide coverage has been given to the impact of civil unrest in Cote d'Ivoire upon the cocoa industry, little attention has been paid to the effect on the Ivorian oil and gas sector. Even though the West African country has never been one...

E African Customs Union will spur economic growth: the long awaited East African Customs Union Treaty was finally signed at the beginning of March. Kenya, Uganda and Tanzania have agreed on a system of tariffs that remove the major obstacles to increased trade within the region. Neil Ford reports.(Trends)
June 1, 2004... As we reported in the April issue of African Business, the East African Customs Union Treaty is now law and brings the former member of the East African Federation closer together. Common external tariffs and plans to support local...

Fill in this questionnaire and win a free subscription*.(Reader Survey)
June 1, 2004... Dear Reader We have made substantial efforts over the past two years to try and bring to you an improved magazine. However by no means do we believe our work is near complete. It is for this reason that we ask you to kindly spend a few...

The power of venture capital: venture capital is essential to enable entrepreneurs to expand or start new ventures. But it is risky and Africa comes top of the table in terms of high risks. However, things may be changing as Kasimir Berger reports.(Finance)(African Venture Capital Association )
June 1, 2004... Venture capitalists are by nature nervous creatures. But they really start hopping about when it comes to Africa. The continent is perceived to be so risk heavy that none but the bravest venture capitalist even comes close to it. But is this...

Ebony festival triumph of African enterprise: the historic Goree island in Senegal will be the focus of one of greatest cultural celebrations of the year, the Coca-Cola Ebony Festival. It will also be a tribute to the entrepreneurial spirit of two young African women Story by Anver Versi, editor of African Business which is proud to be associated with the event as a media partner.(Enterprise)
June 1, 2004... A dream shared by two young African business executives will became solid reality when the Coca-Cola Ebony festival kicks off in Goree Island, Senegal, this month. [ILLUSTRATION OMITTED] The theme of the festival is 'Celebrate Africa'...

Benefits of a cleaner Africa: despite the disappintment of many African countries over the lack of implementation of the Kyoto Protocol, the Clean Development Mechanism holds out some attractive benefits. Stephen Williams reports.(Environment)
June 1, 2004... Global warming is currently a hot topic as a new Hollywood blockbuster, The Day After Tomorrow, brings to cinema screens a terrifying picture of what this phenomenon could mean to the world. Hailstones the size of footballs raining down from...

Technology delivering 'amazing' results: applying new technologies, even as basic as hand-held computer systems, is changing the face of health-care in Africa. The results, as Bianca Wright reports, have been amazing.(Health)
June 1, 2004... Cape Town, South Africa, has one of the highest incidences of Tuberculosis (TB)in the world and one of the lowest success rates in treatment. Treatment is available, but for it to be effective, medication has to be taken over a long period....

The biggest little goldmine in the south: everybody knows that Botswana is the world's biggest producer of high-value diamonds but not so many know that it is about to become a major gold producer as well. Tom Nevin has the details.(Mining)(Mupane Gold Mine)
June 1, 2004... Botswana, better known as a treasure trove of diamonds, is now knocking at another wealth creating door. It's one that's been ajar for centuries, and if the exploration and prospecting deliver on their promises, Botswana could soon be counted...

Nothing is trickling down: although Kenya's economy has been improving, the current 'trickle-down' theory, argues John Kamau, is just not working.(Kenya)
June 1, 2004... Kenya's economy has some way to go to reach the targets set by government in 2002. Donald Mwangi is just one of many Kenyans waiting to see some results, or "at least get a job" as he casually puts it. Some 16 months after a new government came...

Eldorado Eldoret: Eldoret in Kenya has produced more champion runners than any other town in the world. These international stars, in turn, have ploughed their winning back into the town and made it the envy of East Africa. Milan Vesely reports.
June 1, 2004... Eldoret, in Kenya, was once just a sleepy backwater town in an upcountry farming community that never hit the headlines-other than in brief business reports about the state of Kenya's wheat or barley crop. But now Eldoret is the heart of a...

UN hammers economic policies: a United Nations report slamming the economic policies of President Thabo Mbeki's newly re-elected administration has rocked the South African government and shocked South Africans. Tom Nevin reports from Johannesburg.(South Africa)(South Africa: Human Development Report 2004)
June 1, 2004... The UN Development Programme, (UNDP), the world body's social and economic engine, severely criticises the monetary, fiscal, industrial, debt and labour policies of the government, singling out the rand as too strong and interest rates too...

Ports head for privatisation: the long overdue reform of Nigeria's notoriously ill managed ports is expected to take the form of awarding contracts to private companies in the near future. But union opposition is intense. Who will win? Asks Neil Ford.(Nigeria)
June 1, 2004... Although little progress was made on Nigerian port reform during President Olusegun Obasanjo's first term of office, contracts to manage the nation's main ports are likely to be awarded to private companies within two years. [ILLUSTRATION...

Angola battles human rights groups: the government of oil-rich Angola and human rights organisations are locked in combat over claims of harsh treatment of migrant workers and financial scandals in the oil industry. Milan Vesely has the details.(Angola)
June 1, 2004... The Angolan government is in a face-off with the US-based Human Rights Watch (HRW) and the UK-based Global Witness (GW) over its handling of oil revenues and its treatment of foreign diamond diggers, commonly known as 'garimpeiros'. ...

State wheels just a little wobbly: while on the surface little seems to be changing in Cameroon, this year's presidential elections could be the beginning of something radically new. Analysis by Neil Ford.(Cameroon)
June 1, 2004... Little seems to change in Cameroon. Oil production continues to decline and the country's reputation as a nursery of good footballing talent continues to grow, but little else seems to alter. Yet this year could mark something of a turning...

Western firms scramble for contracts: Western oil companies, including American majors, are flocking back to Libya and elbowing each other out in the scramble for lucrative contracts. Libya's re-entry into the international world has turned into a triumphal march. Report by James Badcock.(Libya)
June 1, 2004... Spring 2004 has been a season of triumph for the leader of the Libyan Arab Jamahiriya, Colonel Muammar al Ghadaffi. As the carefully laid plans for a rapprochement with the West begin to take full effect, Colonel Muammar Ghadaffi's prestige and...

The most powerful saloon ever? Thinking of buying a new BMW 5-series, or a Mercedes E-Class? You might want to keep that chequebook in your pocket when you see what Audi have unveiled. Stephen Williams reports.(Audi A6)(Product/Service Evaluation)
June 1, 2004... There is no mistaking Audi's intentions--they're gunning for both the BMW-5series and the Mercedes E-Class with their new A6 saloon. And they're claiming that this new car is no less than "the most sporting business saloon" on the market. ...

The story of coffee: from a mystic's beverage to a capitalist's cup.(Books)(Book Review)
June 1, 2004... COFFEE--A DARK HISTORY By Antony Wild [pounds sterling]18.99 Fourth Estate ISBN 1-84115-649-3 At the very beginning of the 16th century, in Yemen, Southern Arabia, a new drink made its first appearance. The popularity of this...

Movers and Shakers: The Brains and Bravado Behind Business.(Books)(Book Review)
June 1, 2004... MOVERS AND SHAKERS THE BRAINS AND BRAVADO BEHIND BUSINESS Foreword by Robert Heller [pounds sterling]25 Bloomsbury ISBN 0-7475-6242-3 Drawing on the lives and impact of over 100 of the world's leading management thinkers...

The Debt Trap in Nigeria: Towards a Sustainable Debt Strategy.(Books)(Book Review)
June 1, 2004... THE DEBT TRAP IN NIGERIA TOWARDS A SUSTAINABLE DEBT STRATEGY Edited by Ngozi Okonjo-Iweala, Charles C Soludo & Mansur Muhtar [pounds sterling]17.99 Africa World Press ISBN 1-59221-001-5 Claiming to be the first major study...

The Dollar Crisis: Causes, Consequences, Cures.(Books)(Book Review)
June 1, 2004... THE DOLLAR CRISIS CAUSES, CONSEQUENCES, CURES By Richard Duncan [pounds sterling]25 John Wiley & Sons ISBN 0-470-82102-7 This book's theme echoes what two of African Business' senior contributors have been writing in...

Global Corruption Report 2004.(Books)(Brief Article)(Book Review)
June 1, 2004... GLOBAL CORRUPTION REPORT 2004 [pounds sterling]15.99 Transparency International/Pluto Press ISBN 07453-2230-1 With a special focus on political corruption, the 2004 edition of Transparency International's Global Corruption Report...

Empires of Profit: Commerce, Conquest and Corporate Responsibility.(Books)(Book Review)
June 1, 2004... EMPIRES OF PROFIT COMMERCE, CONQUEST AND CORPORATE RESPONSIBILITY By Daniel Litvin [pounds sterling]18.99 Texere ISBN1-58799-116-0 There is a commonly held view that the West's big multinationals ravage the developing...

The Bamako locomotive: from savannah Blues to Manding rock.(Music)(Kongo Sigui: The Super Rail of Bamako)(Sound Recording Review)
June 1, 2004... KONGO SIGUI THE SUPER RAIL BAND OF BAMAKO Indigo Cat: LBLC2581 Both Salif Keita and Mory Kante took their first musical steps with Bamako's Buffet de la Gare Super Rail Band. And once again, on their new recording Kongo...