African Business articles from June 2008

African Business archives from June 2008

The true cost of Africa's conflicts.(Impact of Africa's wars)(Letter to the editor)
June 1, 2008... I am writing this letter with reference to your editorial in the November 2007 edition of African Business "The Obscenity of African Wars". In recent decades an approach that analyses the interactions between politics and economics has become...

Look to Eastern Europe.(South-South revolution)(Letter to the editor)
June 1, 2008... Your cover story The South-South Revolution (African Business May 2008 issue) was typically authoritative and well argued, but like many of the articles I have read about what might be considered an new emerging economic order, you examined the...

Subsidies the correct policy?(Bumper harvests)(Letter to the editor)
June 1, 2008... Your report on the bountiful maize harvest delivered by Malawi's farmers (Fertiliser success stuns Western donors, African Business May 2008 issue) was certainly heart-warming and a clear demonstration that the international donor experts are...

UC Rusal.(Corrections)(Correction notice)
June 1, 2008... We would like to draw readers' attention to some errors that appeared in the article on UC Rusal in the May 2008 issue. The headline read: 'Rusal to invest $5bn in Africa'. The correct headline should have been 'Russia to invest $5bn in...

New lightbulb factory.(Investment)
June 1, 2008... Royal Philips Electronics, the Dutch multinational corporation, is entering a joint venture with CEF (Pty) Ltd, owned by the South African government, and Kareboo Systems, a privately-owned black economic empowerment (BEE) company, to set up...

Business leaders organise.(Commerce)(Brief article)
June 1, 2008... Africa's leading trade organisations, employers' federations and manufacturers associations are to co-operate to form an initiative that will formulate policies affecting businesses in Eastern and Southern Africa. The proposed Eastern and...

New Niger River programme agreed.(Environment)(Brief article)
June 1, 2008... West African leaders, meeting at a summit convened in the Nigerien capital Niamey, have endorsed a 20-year rescue plan to save the Niger River. The $8.6bn project will involve four five-year programmes to reforest, rehabilitate land, and dredge...

Libya debt write-off.(Trade)(Russia has cancelled Libya's debts)(Brief article)
June 1, 2008... Russia has cancelled Libya's $4.5bn debts in exchange for contracts for Russian companies worth several billions of dollars. The debt deal, announced in the Libyan capital Tripoli, is an integral part of an intergovernmental agreement on...

Wade announces South-South agreement.(Food Security)(International trade between Senegal and India)(Brief article)
June 1, 2008... In an attempt to assure the country that food security was guaranteed, President Abdoulaye Wade of Senegal has announced that Indian authorities have agreed to supply an annual 600,000t of rice for the next six years. Like many countries in...

New capacity agreed.(Telecoms)(Agreement between Senegal's and Gambia Telecommunication Company Limited )(Brief article)
June 1, 2008... Senegal's national telecommunications company, Sonatel, is increasing The Gambia's internet bandwidth capacity from 34 to 68 megabits following an agreement reached between Sonatel and Gambia Telecommunication Company Limited (Gamtel). The...

OECD reports progress.(Finance)(Organisation for Economic Co-operation and Development)(Report)(Brief article)
June 1, 2008... The OECD has reported that private equity funds in Africa are soaring, and have described the development as the "African investment story to watch". In its 2008 African Economic Outlook, the OECD said a huge rise in mergers and acquisitions,...

$400bn for apartheid.(Law)(Apartheid cases against Exxon Mobil, Citigroup and the Ford Motor Company)(Brief article)
June 1, 2008... The US Supreme Court has allowed a multibillion dollar lawsuit to go forward against a group of top international corporations accused of aiding the apartheid-era South African government. America's highest court issued a statement that it was...

African countries lead tree planting.(Environment)(Brief article)
June 1, 2008... Two African countries, Ethiopia and Kenya, have been named as among the top four countries participating in a tree planting campaign. The Billion Tree Campaign was launched two years ago by the World Agroforestry Centre. Two million trees have...

Breeding scheme boosts national herd.(Husbandry)(Ministry of Agriculture, Water and Forestry's Breeding scheme)(Brief article)
June 1, 2008... Communal livestock farmers in five regions of Namibia have received practical assistance from the Ministry of Agriculture, Water and Forestry to improve their herds under a scheme started last year. The ministry's programme supplies breeding...

Monetary union aspirations.(Economies)(High interest rate and budget deficits posing a challenge for central banks)(Brief article)
June 1, 2008... The Monetary Affairs Committee (MAC) of the East African Community (EAC) has said high interest rate spreads and budget deficits are posing a challenge for all of East Africa's five central banks. High domestic debt and relatively high levels...

Monkeys and crowns.(Editorial)(position of leadership )(Editorial)
June 1, 2008... When the monkey wears the crown, it is time to leave town. This is a saying among my people, which unfortunately is being heard more often these days as political and business 'leaders' blunder from one catastrophe to another. ...

The soaring cost of food.(Effect of Inflation (Economics) on food prices )(Cover story)(Brief article)
June 1, 2008... There has been a fiery trail of protests and riots across large swathes of the developing world, including Africa, as food prices have doubled or even tripled. The price inflation is not restricted to the developing world-food costs have gone...

The silent tsunami.(COVER STORY)
June 1, 2008... Some six months ago, we published an editorial warning that global food prices would escalate and that emerging economies such as those in Africa would be hardest hit. We suggested that a plant rich in natural oils, Jathropha, rather than...

Why Africa needs a Green Revolution.(COVER STORY)
June 1, 2008... China and India wallowed in poverty when their production of food was insufficient for their needs; now, with their successful green revolutions behind them, they are rapidly joining the ranks of the most powerful economies on earth. Now...

At the tereshold of a renaissance: Ethiopia celebrates its third millennium against a backdrop of a rejuvenated economy, with an average growth rate of 11.9% in the last five successive years. All indicators show that the country, with a proud history going back 3,000 years, is on the cusp of a profound economic and social transformation.(ETHIOPIA)
June 1, 2008... Ethiopia entered its third millennium on its New Year's Day, 1 Meskerem 2000 (or 12 September 2007 in the Gregorian calendar). Ethiopia's calendar year begins in September, comprising of 12 months of 30 days and one additional month of five or...

Africa can tough out credit crisis: many of the world's developed economies are being dragged down by the turmoil on the US financial markets. Can the African region remain insulated from the spreading crisis?(VIEW FROM THE CITY)
June 1, 2008... The International Monetary Fund (IMF) in its latest World Economic Outlook stated: "The world economy has entered a new and precarious territory." It warns that there is a 25% probability of a global recession and world output could dip below...

Grand Inga-reality or pipe dream? One of the great energy dreams of Africa remains the Grand Inga hydroelectric scheme in the DR Congo. If this massive project ever gets underway, it will dwarf China's Three Gorges dam and provide enough electricity to light up the whole of Africa and yet have sufficient to export. Tom Nevin reports on the latest developments.(ENERGY)
June 1, 2008... Is the international financial community of a mind to pick up an $80bn tab to install the biggest hydroelectric scheme the world has ever contemplated? That is the question financiers, development agencies and donors gathered in London to...

Grand Inga would keep Africans in the dark: Terri Hathaway of International Rivers Network argues that the $80bn Grand Inga project would benefit international companies but prove disastrous for local populations.(ENERGY)
June 1, 2008... A lucrative hydropower scheme proposed for the Congo River has become Africa's next great scramble. Led by the World Energy Council (WEC), major industries, banks, and governments met in London to seek their piece of the $80bn Grand Inga...

The 2008 WEF Africa, Cape Town challenges and opportunities.(THE 2008 WEF)(World Economic Forum)
June 1, 2008... When Africa's top politicians, business leaders and decision makers arrive in Cape Town for the 18th World Economic Forum on Africa this month, they will need to address a rapidly changing set of global economic circumstances. While Africa has...

A history.(WEF)(World Economic Forum )
June 1, 2008... Throughout its history, the World Economic Forum (WEF) has constantly evolved to better address the challenges and grasp the opportunities being presented to the global community. Its antecedents originate from when it was first conceived of in...

Unleashing Africa's potential.(THE 2008 WEF)
June 1, 2008... One of last year's most enthralling sessions at the 2007 World Economic Forum on Africa was entitled 'Unleashing Opportunity: A Blueprint for Africa's Growth'. The debate heard the president of South Africa, Thabo Mbeki, call on investors to...

What happened at Davos?(THE 2008 WEF)(World Economic Forum Annual Meeting 2008 )
June 1, 2008... The World Economic Forum Annual Meeting 2008 last January closed with a call by business, government and civil society leaders for a new brand of collaborative and innovative leadership to address the challenges of globalisation, particularly...

Confronting a development emergency.(THE 2008 WEF)(World Economic Forum in Davos )(Millennium Summit in 2000 )
June 1, 2008... One of the results of the World Economic Forum in Davos last January was a joint statement issued by the UK's PM Gordon Brown, Microsoft chairman Bill Gates, Irish musician Bono, H.M. Queen Rania Al Abdullah of the Hashemite Kingdom of Jordan,...

Wave of support for concessions: while the debate between state ownership of key enterprises and wholesale privatisation rages across the continent, a very workable compromise seems to have been found by the ports and harbours sector. Neil Ford has the details.(Ports and Harbours)(Discussion)
June 1, 2008... Discussion of economic development on the African continent has long focused on the debate over public versus private ownership and management. Companies and important infrastructure can be operated by state owned operations for the benefit of...

Heavy cargo dominates South Africa-West Africa route: cargo volumes, especially heavy liftings, on the South Africa-West Africa sea route have grown very considerably and are likely to continue growing over the medium term. Tom Nevin reports on the shipping challenges this situation entails.(Ports and Harbours)(Report)
June 1, 2008... Africa-focused shipping company Safmarine says it has witnessed a double digit increase in break-bulk liftings from South Africa for the period 2006/2007 and the outlook remains positive considering the number of large-scale projects in the...

Santana 'who?' replaces coach Parreira: soon after South Africa's Bafana Bafana had at last won a couple of matches, super coach Carlos Parreira decided to quit his R22m-a-year job of preparing the national team for the 2010 soccer World Cup. His replacement, another Brazilian, is hardly known outside his country. Tom Nevin reflects the air of uncertainty now gripping South Africa.(WORLD CUP WATCH)(Santana replaces Parreira as S.Africa coach)
June 1, 2008... He dropped the bombshell just as his team caught a glimpse of light in their very long, very dark tunnel of dismal performance with a 3-1 drubbing of Paraguay and a narrow victory over Canada. The wins helped to bring some respectability to his...

Looming spectre of recession: an inexorable rise of basics, food, fuel and power is threatening galloping inflation in South Africa, says Tom Nevin. Higher interest rates have not helped to stem inflation. Does the government have an answer?(SOUTH AFRICA)(South Africa heading for no growth, no new jobs, recession)
June 1, 2008... Is South Africa heading for a recession, and if it is, will it drag its economically smaller neighbours along with it? As for the first part of the question, most economists and analysts will concede to is "probably" or "maybe". On the...

Time to start rebuilding: is the worst over for Zimbabwe? Will Africa and the rest of the world pour in the assistance the country needs to get back on its economic feet or will sceptics prevail? Tom Nevin discusses.(ZIMBABWE)
June 1, 2008... "It took Zimbabwe 12 years to end up in this situation. It will perhaps take half a dozen to get out. But it will, and we'll be there." This sentiment by David Lenigas, chairman of Lonrho, reflects much of the optimism being voiced by...

Dying fish industry breathes again: Malawi is taking big strides to restore its dying fishing industry to its past glory as a foreign from Lake exchange earner. Catches Malawi, the fifth largest lake in the world, have been dropping dramatically over the last 20 years. Lameck Masina reports.(MALAWI)
June 1, 2008... Until 1991, Malawi had been registering zero exports of fish largely because of unsustainable fishing methods that depleted fish stocks in world's fifth largest lake, Lake Malawi. Bordered by Malawi, Tanzania and Mozambique, Lake Malawi covers...

Profits from a life of luxury: Mauritius has once again demonstrated its ability to think far ahead by promoting the Integrated Resorts Scheme. This allows foreigners, with money, to live in the lap of luxury on the beautiful island and also contribute to building the national economy. Nasseem Ackbarally reports.(MAURITIUS)
June 1, 2008... Dominique Andre, 58 years old, a French businessman, has lived in Cote d'Ivoire for the last 10 years, but it is in Mauritius that he has decided to buy a luxurious villa at Tamarin, in the south-western part of the island. [ILLUSTRATION...

Funny money Unfunny consequences.(Book review)
June 1, 2008... Reading this book explains a curious incident. In the mid-1990s I had flown into the capital of an East African country and tried to change some US dollars into the local currency at an airport bureau de change. Point blank, the teller refused...

African art now: a new collection of contemporary African art opens the door into the exciting world of some of the continent's most talented painters and sculptors. An exhibition in London reinforces the message of the book, Angaza Afrika.(Brief article)(Book review)
June 1, 2008... Here is African art brought bang up to date. Chris Spring's wonderfully illustrated book, Angaza Afrika, together with a brilliantly mounted with a brilliantly mounted exhibition at London's October Gallery, takes us on a thrilling journey into...

Two's company: a double blast from the past.(Sound recording review)
June 1, 2008... The Voice of Lightness By Tabu Ley Rochereau Sterns STCD 3027&8 (2 CDs) & Bel Canto - Best of the Genidia Years By Mbilia Bel Sterns STCD 3037&8 (2 CDs) There is little doubt that one of the greatest partnerships in...