African Business articles from March 2004

African Business archives from March 2004

Africa's importance: seize the opportunity.(This Month's Prize Letter)(Letter to the Editor)
March 1, 2004... Irecently came across your magazine in a book store in Atlanta Georgia. I've come across magazines that cover business in Israel and business in South Korea but African Business is the only journal I have ever picked up that covers the...

African-Americans: we need you here.(This Month's Prize Letter)(Letter to the Editor)
March 1, 2004... I was very interested to see African Business' coverage of the Black History Month in the US (African Business February 2004), and it was certainly very encouraging to see that so many Americans of African heritage are succeeding in their given...

The FDI debate: put Africa's resources to work.(This Month's Prize Letter)(Letter to the Editor)
March 1, 2004... Your article Africa's Hunt for Investment (African Business, December 2003) which examined the UN's World Investment Report 2003 raises many interesting arguments, but I should like to add a couple of comments. I believe that competitive...

Win a free annual subscription!(Prize Letter)(Letter to the Editor)
March 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...

Biology: homeopathy demand threatens Africa's plant life.(Business Briefs)(Brief Article)
March 1, 2004... A first world boom in the demand for Africa's herbal medicines is threatening widespread devastation of plant life on the continent, and the eradication of up to a fifth of the plant species on which traditional treatments depend. "The market...

Trade: hills and valleys of Africa's trade with US.(Business Briefs)(Brief Article)
March 1, 2004... Although Sub-Saharan Africa's trade with the US fell by some $3.7bn in 2002 it is likely to rebound following new deals between the US and several African nations, and America's new Africa-targeting energy policy. The International Trade...

Defence: is Nigeria going ballistic?(Business Briefs)(Brief Article)
March 1, 2004... The Nigerian government has confirmed that it is seeking ballistic missile technology and that such assistance could be supplied by North Korea. According to vice-presidential spokesman Onu Kaba Ojo the subject was discussed at a recent meeting...

Mining: strong rand sinks marine diamond company.(Business Briefs)(Brief Article)
March 1, 2004... The offshore operations of Diamond Fields International in Namibia have been scuppered by the strong South African currency. The Toronto Stock Exchange listed company says suspension of operations has become necessary "because operating costs...

Banking: NBK in a multibillion shilling restructure.(Business Briefs)(National Bank of Kenya to get assistance from World Bank)(Brief Article)
March 1, 2004... The Kenya government has set aside Ksh12bn ($170m) to revamp the ailing National Bank of Kenya (NBK) and prepare it for privatisation. The restructuring is scheduled for completion by June this year and will be tackled with the assistance of...

Telecoms: new ITC wave for Africa expected.(Business Briefs)(Independent telephone companies)(Brief Article)
March 1, 2004... Positive developments in Africa such as the launch of South Africa's second fixed line telephony network, strong communications growth in Nigeria and the rebuilding of Angola's telecom network are helping to accelerate ITC demand on the...

Power: lights out for SADC by 2007.(Business Briefs)(Southern African Development Community)(Brief Article)
March 1, 2004... Electricity demand in Southern African Development Community (SADC) countries will exceed supply in the next three years. Ikhupuleng Dube, principal research officer at the Zimbabwe Electricity Supply Authority, reports that SADC countries will...

Investment: Abuja wants China to invest $10bn.(Business Briefs)(Brief Article)
March 1, 2004... Nigeria has asked China to invest $10bn in the nation's economy in the immediate future. ThisDay newspaper reports that the requested foreign direct investment is part of a $30bn FDI package planned for Africa by the Chinese government. Noting...

AB guide to African currencies.(Illustration)
March 1, 2004... AB Guide to African Currencies COUNTRY CURRENCY [pounds sterling]STG ALGERIA (Dinar) 134.68 ANGOLA (New Kwanza) 150.96 BENIN (CFA) ...

The west faces a stark choice.(Editorial)
March 1, 2004... The Western world spends $1000bn on defence and only $50bn on all forms of aid for the developing world. "This is clearly not right," was the surprising response from none other than James Wolfensohn, the director of the World Bank. He could...

Africa's top companies: African Business presents the first of its annual review of Africa's top companies on a sub-regional basis. We also profile some of South Africa's most successful and exciting entrepreneurs.(Cover Story)
March 1, 2004... What is a 'top' company? Is it one with the highest turnover or the largest market capitalisation? Is it the company that has made the most profit or the firm that has contributed most to its human environment? How do you rate a company that...

North Africa.(Africa's Top Companies)
March 1, 2004... North Africa has registered steady growth both in the public and private sectors. The stock markets of Egypt and Morocco have been especially active and Algeria can boast the continent's biggest company in terms of revenue. After South Africa,...

Patrice Motsepe: the black prince of SA mining.(S. Africa's Black Business Elite)
March 1, 2004... Japhet Ncube profiles Patrice Motsepe, one of Africa's greatest entrepreneurs. He is personally worth a cool R4bn. Probably more. And at 42, Patrice Motsepe is probably South Africa's youngest, wealthiest black businessman. Suave,...

East Africa.(Africa's Top Companies)
March 1, 2004... As far as emerging markets go, East Africa is outperforming most of the equity investment world. Last year the Ugandan stock exchange generated a return of 140% in US Dollar terms, performing almost as well as the Kenyan exchange. The two...

Polished diamond: Tokyo Sexwale.(S. Africa's Black Business Elite)
March 1, 2004... Sexwale's highly profitable Mvelaphanda Resources became the first company in South Africa to enter a partnership with De Beers. Sexwale had spent 13 years on Robben Island, where Nelson Mandela, the world's greatest statesman, was banished...

Southern Africa.(Africa's Top Companies)
March 1, 2004... Why is southern Africa in general and South Africa in particular more economically developed than the rest of the continent? History is one reason, money and know-how is another. Historically the Dutch and French Huguenots and British...

West Africa.(Africa's Top Companies)
March 1, 2004... Determining a list of the biggest companies in any part of the world can be a difficult exercise. Are fully or partly state owned companies to be included, and what about the subsidiaries of foreign companies? In an age where a company can be...

Cyril Ramaphosa: a natural leader.(S. Africa's Black Business Elite)(Brief Article)
March 1, 2004... Cyril Ramaphosa has transformed himself from political activist to one of South Africa's most dynamic business leaders. Such is Ramaphosa's leadership skills that his name was often mentioned when the issue of Nelson Mandela's successor was...

A glittering asset: the world's oldest monetary asset, dating back some 5,000 years, is back in fashion. But will the current gold rally collapse as it did in 1996?(View from the City)
March 1, 2004... The advice given last year, in the March 2003 City View column was to 'put all your eggs in the gold basket.' That advice proved to be very sound. This January, gold hit a 15-year high of $430.50 per troy ounce (oz)--thanks to the ailing US...

West lures African nurses: trained nurses and pharmacists from Africa are in great demand in the US and Europe where they are offered better pay and prospects. But is africa the loser? Milan Vesely discusses.(Dateline USA)
March 1, 2004... Walk into any Albertson's or Walmart department store in Dallas or Fort Worth and you are sure to hear some very unlikely sounds: the lilting tones of Swahili or the clicking sounds of Xhosa. Mixed in among the Texas twangs, the sound of...

African stocks beat the world: while the rest of the world may wish to ignore African stock markets because of their relatively small sizes, there is no getting away from the fact that Africa has indeed outperformed all others. Frank Senyo Dewotor of the DATABANK GROUP makes the point.(Stock Markets)
March 1, 2004... The renowned investment guru George Soros once made the observation that Africa is not even visible on the radar screens of global portfolio investors. It's probably more accurate to say that African stock markets are simply ignored by the...

Africa enters the premier league: although understated, there has been an explosion of oil and gas exploration and production throughout Africa. New technologies have made previously uneconomic fields viable and global politics favour Africa as an oil source. This African Business survey was written by Neil Ford.(Oil and Gas: an African Business Survey)
March 1, 2004... There are several sectors where Africa is of global importance--gold, diamond and copper mining, of course, plus the trade in coltan--but the continent is finally making its mark as an oil and gas producer of international importance. It has...

S Africa's Sanoco takes African strides.(Oil and Gas: an African Business Survey)
March 1, 2004... South Africa's Sanoco oil company created industry waves when it was formed last year. It was the first all-female, all-black company in a field traditionally dominated by white males. The fully-fledged downstream independent is now broadening...

Gas is the way to go: first Algeria, then Nigeria and now Angola have discovered the enormous revenue generating capacity of liquefied gas. The problem is in getting the gas to where the demand exists.(Oil and Gas: an African Business Survey)
March 1, 2004... The long predicted global 'dash for gas', involving a wholesale switch from the use of coal and oil as power sector and industrial feedstocks, never really took off. In its place, gas consumption has steadily grown year on year, particularly in...

Songo Songo opens the field: Tanzania's Songo Songo gas field has encouraged oil independents to take an exploratory dip in the hitherto marginalised East African waters.(Oil and Gas: an African Business Survey)
March 1, 2004... After years of planning, discussion and development, the first gas has finally flowed in the $350m Songas Songo Songo gas-to-power project in Tanzania. The turbines were delivered at the Ubungo thermal plant in Dar es Salaam towards the end of...

Kosmos undertakes $300m exploration project.(Oil and Gas: an African Business Survey)(Kosmos Energy, LLC)(Brief Article)
March 1, 2004... Kosmos Energy, LLC--a privately held international oil exploration and production company--announced in February that it has received provisional commitments of up to $300m from company management, Warburg Pincus and Blackstone Capital...

Demining: dirty rat is new hero.(Products & Processes)(Brief Article)
March 1, 2004... Southern African military experts estimate that parts of rural Mozambique are still sown with some half a million landmines, and Angola's with millions more. Now high tech and a tiny animal's nose are helping deal with Africa's terrifying...

Medicine: X-rays by satellite.(Products & Processes)(Brief Article)
March 1, 2004... Distance medicine is making its mark in all spheres of healthcare in Africa. Now add highly-skilled X-ray diagnosis to the list. A tele-radiology pilot programme under way in a hospital in Queenstown, South Africa, is transmitting X-ray images...

Standards: donkey cart quality check.(Products & Processes)(Brief Article)
March 1, 2004... The South African Bureau of Standards, the country's quality watchdog, has produced the nation's first standards for donkey carts. They cover the requirements for the construction and performance of one of South Africa's most popular modes of...

Drug check: handy spiked-drink testers.(Products & Processes)(Brief Article)
March 1, 2004... A 'check before you drink' test for young partygoers could lead to a reduction in the number of date rapes in South Africa. A Drink Spike Detector (DSD) is now available through chemists country wide in the form of a small card that changes...

Technology: melt in the sun plastic.(Products & Processes)(Brief Article)
March 1, 2004... The problem with a plastic shopping bag is that it never actually goes away. Plastic is forever, and that's an ecological nightmare. Now Pretoria University and a Johannesburg company put some light on the issue--sunlight, in fact. They have...

Websites: how to promote your city.(Products & Processes)(Couassi Communication Agency designs the best of african websites)(Brief Article)
March 1, 2004... The of the best websites on African cities and countries has been designed and produced in Madrid by the Couassi Communication Agency (www.couassi.com). The mayor of Malabo, Gabriel Mba Bela, initiated the project. With all the facts, photos...

Inventions: Barney's leak-proof nappies.(Products & Processes)(Nkomo, Barney)(Brief Article)
March 1, 2004... When Barney Nkomo, a destitute 39-year-old walked into Newcastle Technical College, in KwaZulu-Natal, South Africa, carrying a strange-looking contraption, lecturers and technicians were amazed at its ingenuity. Constructed entirely of...

Invention: drinking made (very) easy.(Products & Processes)(Brief Article)
March 1, 2004... Following on from last month's (February) products and processes when we gave Guinness drinkers the official thumbs up, this month we bring you news about a glass that tells your barman that you are ready for a refill. Developed by Paul Dietz...

Enmeshed in alien troubles: as 2004 gets underway, Africa faces some old problems--and not a few new ones. Most of them are totally unconnected to the continent's own development efforts, but are instead linked to global trends. Milan Vesely discusses the implications.(Trends)
March 1, 2004... The US and the financial powerhouses of Europe are now struggling with ballooning deficits and revaluing currencies. In the case of the US, devaluing the dollar is a deliberate US Treasury policy, the premise being that a weak dollar brings...

Eutelsat's new satellite will boost African communications: African Business editor Anver Versi was invited to see the finishing touches being applied to the latest satellite to join the system that is providing Africa with its digital link to the rest of the world. Here is his report.(Telecommunications)
March 1, 2004... If you followed the fascinating swings of fortune during the African Cup of Nations tournament last month, chances are that the matches broadcast from Tunisia arrived on your television set via a satellite operated by Eutelsat. ...

Economy on the up and up: Kenya's economic landscape is looking rosier than it has in decades. The stock market has enjoyed its best ever performance, lending rates are dropping and the flow of aid has restarted. But, as Alnoor Amlani reports from Nairobi, political uncertainties cloud the skies.(Kenya)
March 1, 2004... By all financial measures, 2003/4 was a superb period in the 50 years of existence of the Nairobi Stock Exchange (NSE). Market capitalization jumped from Ksh83bn ($1.1bn) from September 2002 to Ksh335bn ($ 3.31bn) in January 2004. During this...

Crunch time over privatisation: Ghana's economic turnaround is taking longer than expected, partly as a result of policy blocking by the opposition. Neil Ford reports.(Ghana)
March 1, 2004... When the National Patriotic Party (NPP), led by John Kufuor, won Ghana's December 2000 elections, the result was not only a victory for democracy but for right of centre politics in the country. Kufuor was widely expected to introduce a...

Putting the cart before the horse? A major donor conference has been planned for this month but the security situation is still far from stable. What should come first: Political stability or economic support? Neil Ford discusses.(Liberia)
March 1, 2004... With former president Charles Taylor living in exile, thousands of UN peacekeepers on the ground and a major donor conference planned for February, things finally seem to be looking up for Liberia. Yet is there any point in financing economic...

Investment gathers momentum: determined not to let the momentum of last year's economic growth falter, Mozambique is stepping up its investment promotion campaigns both within and beyond of the southern Africa region. Stephen Williams reports.(Mozambique)
March 1, 2004... According to the Mozambique's Investment Promotion Centre (CPI), the country approved 112 investment projects in 2003, totalling almost $868m. The projects were focused on various sectors including: agriculture, fisheries, banking, insurance,...

Troubled times rock tradition: King Mswati III is one of the last remaining absolute monarchs left on earth. While the monarchy has provided stability in fair times, its role in a more hostile environment is being questioned. Neil Ford reports.(Swaziland)
March 1, 2004... Despite the great changes that have occurred in Southern Africa over the past decade, the region plays host to one of the world's last absolute monarchies. Apartheid has fallen in South Africa, Namibia has gained its independence and peace is...

Ghaddafi--losing the battle but winning the war? Libya, not so long ago one of the scourges of the West, is now being warmly embraced into the international community of nations. James Badcock reports on the latest thawing of the freeze.(Libya)
March 1, 2004... While people are left wondering if it was in fact the oil which generated US interest in Iraq rather than Saddam's 'weapons of mass destruction' (WMDs), in the case of Libya there can be no doubt. Libya has a lot of oil to sell, the USA is a...

Forex auctions curb price hikes: many Zimbabweans have been eking out a living dealing in forex on the parallel market. But recent measures designed to crack down on the practice are beginning to take effect. Ndamu Sandu reports from Harare.(Zimbabwe)
March 1, 2004... Many thousands of Zimbabweans have been directly affected by the Reserve Bank of Zimbabwe's (RBZ's) new monetary policies: They are those that have been speculating on the forex black market. The RBZ governor Gideon Gono's forex auction...

Peugeot 407: the lion roars again; Peugeot has a long history in African markets, and the overdue launch of the new 407 model will be welcome news for the company's many loyal customers. Stephen Williams reports.(Wheels)(Product/Service Evaluation)
March 1, 2004... The long-awaited replacement for Peugeot's popular 406 series, the Peugeot 407, is set for launch later this year. First to appear in Peugeot showrooms will be a traditional four-door saloon variant, with a stylish estate car following next...

Mandela's World.(Freedom's Challenge)(Book Review)
March 1, 2004... MANDELA'S WORLD BY JAMES BARBER WORLD [pounds sterling]14.95 James Currey ISBN 0-85255-876-7 James Barber's Mandela's World is essentially a study of how South Africa's international status changed so dramatically when the...

The Sink.(Freedom's Challenge)(Book Review)
March 1, 2004... BY JEFFREY ROBINSON [pounds sterling]18.99 Constable & Robinson ISBN 1-84119-682-7 [ILLUSTRATION OMITTED] While former heads of state such as General Abacha and Mobutu Sese Seko were quite prepared to stash their ill-gotten...

The Number: Why Companies Lied and the Stock Markets Crashed.(Freedom's Challenge)(Book Review)
March 1, 2004... BY ALEX BERENSON [pounds sterling]17.99 Simon & Schuster ISBN 0-7432-4014-6 [ILLUSTRATION OMITTED] Last month's review of Joseph Stiglitz's book The Roaring Nineties drew some critisism from certain readers. "Why" they asked...

The palm pilot: maringa classics revisited.(Reviews)(Sound Recording Review)
March 1, 2004... PALM WINE A GO-GO ABDUL TEE-JAY RESPECT/FAR SIDE FSCD1001 Abdul Tee-Jay, or Abdul Telan-Jallah to give him his full name, hails from Sierra Leone--although his parents originally came from Guinea. From a very young age music...