African Business articles from November 2003

African Business archives from November 2003

Our leaders are culpable: African governance.(This Month's Prize Letter)(Letter to the Editor)
November 1, 2003... Anver Versi's editorial 'Who rules Africa?' in the August/September issue of African Business makes interesting reading. I generally agree with your observation that the IMF, World Bank and other such organisations play a significant role in...

Will the G7 see the truth: wealth creation.(Letters)(Letter to the Editor)
November 1, 2003... I wanted to write to tell you how much I appreciate reading African Business, and in particular the provocative writings of the editorial columnist Anver Versi. I have just finished reading the October issue, and Mr Versi's piece 'Creating...

Don't leave us out: Africa's top banks.(Letters)(Letter to the Editor)
November 1, 2003... I am referring to the October issue of African Business in which you feature Africa's top 100 banks. You might be interested to learn that Trust Bank Corporation (TBC), part of the Trust Holdings Group, is ranked as one of Africa's top 100...

Torn between two feelings: Chad pipeline.(Letters)(Letter to the Editor)
November 1, 2003... I would like to comment on the article 'Chad: The tip of the spear' by Milan Vesely in the October issue of African Business. When I began reading the article, I was initially dismayed because I thought that it was just another story about an...

Cell phones makes kids older.(Health)(Brief Article)
November 1, 2003... An entire generation of today's teenagers is at risk of going senile in the prime of their lives through use of cellular phones and the new wireless technology. A recent study by Sweden's Lund University, revealing new ways in which cell phones...

Oil on DRC-Angola troubled waters.(Energy)(Brief Article)
November 1, 2003... A 50-year spat between Angola and the DRC over maritime oil exploration could be nearing an end as the two producers enter final talks over joint exploitation of the Atlantic fields. "The agreement represents a common interest that both parties...

Zambia to provide power to East Africa.(Electricity)(Brief Article)
November 1, 2003... Zambia's vast river network is key to a $323m power deal that will link the central African country to Tanzania and Kenya. The project hinges on a 400MW interconnector line that will transmit electricity generated in Zambia. It already...

Battle for Air Botswana shares.(Aviation)
November 1, 2003... British Airways, through its African Comair subsidiary, and Air Mauritius are locked in a bidding war for a stake in Air Botswana. The two carriers were short listed from five regional airlines that had pitched for the privatised portion of...

Namibia banks making too much money.(Finance)(Brief Article)
November 1, 2003... Namibia's local banks are to face a wave of foreign competition because the local financial houses are making too much money. The Bank of Namibia says in its latest Quarterly Report that domestic banks are making bigger profits than those in...

Warming seas threaten livelihoods.(Environment)(Brief Article)
November 1, 2003... Fishing and tourism on the coasts of Tanzania, Mozambique, Seychelles and Comoros could be seriously threatened by climate changes over the next couple of decades. According to the British scientific journal, Nature, the main sources of income...

Sacu, Mercosur and India explore pact.(Trade)(Southern African Customs Union )(Brief Article)
November 1, 2003... Talks aimed at accelerating the establishment of a free-trade area between the Southern African Customs Union (Sacu) and the Latin American trade bloc (Mercosur) are underway, and it's now possible that India will be included in a triangular...

Kenyans' "no" to corruption.(Campaigns)(Brief Article)
November 1, 2003... Kenyans and their new government have embarked upon one of the most comprehensive anti-corruption drives in modern African history. In the eight months since taking power, President Mwai Kibaki, has fired top officials, launched an...

Fighting hijackers is big business.(Crime)(Brief Article)
November 1, 2003... Business opportunities are emerging from the massive increase in hijackings in South Africa over the past 10 years, and tactics for prevention are amongst the biggest. Investigator Tim Cohen, writing in Johannesburg's Business Day newspaper...

AB guide to African Currencies.(Business Briefs)(Illustration)
November 1, 2003... AB guide to African currencies Country Currency STG [pounds sterling] Algeria (Dinar) 127.44 Angola (New Kwanza) 130.58 Benin (CFA) ...

The sins of selfishness.(Editorial)
November 1, 2003... All religions warn us of the sin of selfishness lest it destroy you. But selfishness is a human trait--without it, we would not strive so hard to achieve our aims. It is selfishness that makes a football player like the Brazilian Ronaldo such a...

Failure or start of a brave new world? The World Trade Organisation summit in Cancun.(Cover Story)
November 1, 2003... Was the World Trade Organisation's summit in Cancun a dismal failure or the start of a brave new world? African Business discusses this issue at length in our Cover story this month. Here, editor ANVER VERSI gives the background to the...

Who was to blame for Cancun 'collapse'? The World Trade Organization summit in Cancun: the WTO Cancun Ministerial ended amid recrimination and finger pointing. But who was responsible for what? Helene Bank, from the Norwegian NGO, Institute for Global Networking Information and Studies (IGNIS) was there to find out for herself. Here is her report.
November 1, 2003... The confrontational stance between the rich countries and the developing world, known as the 'Mexican stand-off' has continued and developed into a war of words long after the end of the World Trade Organisation's Ministerial meeting in Cancun,...

Can Africa hold firm? The World Trade Organization summit in Cancun: after what has been billed as the 'Mexican stand-off' at Cancun, Africa has two choices--bow to the developed world's dictat or rely on its own resources and markets for growth. Milan Vesely reports.
November 1, 2003... Following the collapse of the World Trade Organisation (WTO) meeting in Cancun, Mexico, African trade ministers are taking a long, hard look at their options; Plan A--the world's rich countries dropping away trade barriers for Africa's...

Designing a better future: if there is to be a resurgence of Africa in the economic sphere, it will come from creativity and value addition. There is plenty of this, at least in potential, in Africa. Proof of Africa's inventiveness was recently on display at the SA Bureau of Standards Design Institute Awards.(Industry)
November 1, 2003... What does the boffin tinkering in the back room have to do with Africa's economic revival and sustainable development? Plenty, if you listen to Professor Sibusiso Vil-Nkomo. And should we really care if a golf tee suddenly appears that adds a...

African potential is limitless: African oil and gas has assumed a far greater global importance in the current climate of conflict in the Middle East. Africa's reserves and the new offshore finds have turned into a major player in the field and the continent's vast gas reserves have a potentially unlimited market.(Special report: African oil and gas)
November 1, 2003... African oil and gas production has long played a considerable role in supplying global hydrocarbon needs. Algerian and Libyan oil production has been matched by the output of sub-Saharan Africa, mainly from Nigeria and Angola, while Algeria has...

Angola--DRC sink border dispute: Angola and the Democratic Republic of the Congo (DRC) have agreed to settle a boundary dispute in the lower half of the Gulf of Guinea. This could add considerably to the DRC's now meagre output.(African oil and gas)
November 1, 2003... Maritime boundary disputes in the lower half of the Gulf of Guinea continue to obstruct licensing of large areas of potentially oil rich territory. Only seven out of the 33 potential maritime boundaries in the region have actually been...

Sable boosts South African production.(Special report: African oil and gas)
November 1, 2003... Oil production of 35,000 b/d has finally begun on South Africa's Sable field, lying 95km off the southern coast. The consortium operating the field comprises state owned company Petroleum Oil and Gas Corporation of South Africa (Petro SA) with...

Gold--survival of the fattest: when the price of gold rises, batten down the hatches - trouble is around the corner. Tom Nevin explores the relationship between the price of gold and bad news and makes some timely suggestions on how to invest.(Investment)
November 1, 2003... Gold is a grouchy commodity. For all its glitter and lure, it has a dark and moody side almost sinister when you consider how it thrives on calamity. It is a wicked conundrum and sad commentary on the human condition that in times of stress,...

Karamoja bull market: when cattle is the be all of wealth, how do you increase your capital? You use modern technology--such as an AK47--when raiding your neighbours. Milan Vesely reports on an East African tradition that is turning ugly.(Cattle)
November 1, 2003... To the modern African man, a mobile phone, Mercedes Benz and a three bedroom bungalow in the suburbs is the height of achievement. To the Karamojong, Dodoth, Pokot or Rendille--tribesmen of northern Kenya and Uganda--to own a cow, preferably...

Nigeria's Delta--Wealth and poverty side by side: Nigeria's deeply troubled Delta region always seems to be making sensational headlines for all the wrong reasons. While the oil rich Delta provides Nigeria with 90% of its export earnings, it is also the least developed area in the country. Why is this so? Neil Ford gives the background to the troubles.(Issues)
November 1, 2003... While oil supplies Nigeria with constant export revenues and hope for the future, it also provides the country with one of its most intractable problems. The Niger Delta is characterized by pollution, conflict between local people and the oil...

UK showcase for African cinema: the recent Africa at the Pictures festival in London, which has become a major cultural event in the city, brought 25 new African films and several directors in direct contact with British audiences. But African cinema continues to lag far behind its contemporaries.(Show Business)
November 1, 2003... After Africa At The Pictures, a weeklong film festival held in London from 17-24 October, two film prints of Waiting for Happiness (or Heremakano) by Mauritanian film director Abderrahmane Sissako start a five-month journey round 30 cinemas in...

Mauritius: island unruffled by leadership change: the Indian Ocean state of Mauritius has recently been thrust into the spotlight as a result of the appointment of the first non-Hindu Prime Minister in the country's history. How will this impact on the economy of one of Africa's most dynamic countries?(Countryfile)
November 1, 2003... Paul Berenger, who comes from the island's ethnic French minority, took over from Sir Anerood Jugnauth at the end of September as part of a political deal hammered out by the government's coalition partners following the 2000 general election....

Cote d'Ivoire: divide and reap chaos: how and why did Cote d'Ivoire, once a model African nation in terms of economic growth and political stability, descend into the conflict ridden nation it is today? Neil Ford describes the destructive influence of weak, short-sighted political leadership.(Countryfile)
November 1, 2003... For many years, Cote d'Ivoire was known for its tradition of ethnic inclusiveness, us much as for its economic and political stability. President Felix Houphouet Boigny, who ruled from 1960 to 1993, pursued a policy of national cohesion and...

Tanzania: Tanzania goes IT surfing! There's been a huge growth in the number of Tanzanians who ate using the internet, but until the telecoms sector has been fully liberalised demand will continue to outstrip capacity.(Countryfile)(Information Technology)
November 1, 2003... Tanzania has nearly 2,000 cyber cafes, more than any other sub-Saharan African country. E-commerce is booming in the country, with local banks leading the way by becoming increasingly reliant on Information and Communication Technology (ICT) to...

Rwanda: economy will provide the acid test: Rwanda's normalisation process took another step forward with the recent Presidential and legislative elections. But it is the economy, rather than politics which will provide stability to the nation.(Countryfile)
November 1, 2003... The normalisation of Rwanda's domestic affairs continued in August and September with the country's first Presidential and legislative elections since the 1994 genocide catapulted the nation in the headlines for all the wrong reasons. Paul...

South Africa: bottling the gambling genie: having released the gambling genie from the bottle soon after the end of apartheid rule, the government is now desperately trying to put it back. A new set of proposals could deal a severe financial blow to the industry.(Countryfile)
November 1, 2003... If a new bill becomes law, it promises that gambling will receive the same treatment as smoking--another horrible habit the government has sworn to stub out. This won't be without a lot of financial pain to the South African exchequer. The tax...

Libya: end of the socialist experiment: as Libya prepares to rejoin the world economic order, its charismatic leader Muammar Ghaddafi has announced a complete overhaul of the domestic economic model.(Countryfile)
November 1, 2003... One by one North African countries have abandoned the ideal of state-controlled industry generating wealth to be distributed by the state. Yet, it still came as something of a shock when Colonel Muammar Ghaddafi announced the end of the 34-year...

Kenya: slaying hydra-headed corruption: while it is unrealistic to expect major economic gains so soon after the elections, Kenya's new government will be judged on its ability to root out endemic corruption and begin the process of economic growth.(Countryfile)
November 1, 2003... The first 10 months of National Rainbow Coalition (NARC) rule have been marked by two main themes: Hope and uncertainty. Hope because Kenyans cannot believe that the country's economic performance can be worse under the new government than...

Succession battle begins slow burn: President Mwai Kibaki's appointment of Moody Awori as his number two has helped shore up the battered ruling coalition but problems are mounting for the new government.(Countryfile)
November 1, 2003... Following the untimely death of the former Vice-President, Kijana Wamalwa at a London hospital, and after several weeks of deliberation by Kenya's President Mwai Kibaki, Moody Awori was appointed as Kenya's new Vice-President in late September....

Award for Standard Chartered: Standard Chartered, which has been operating in Africa for over 140 years, has won the prestigious Banker magazine award as Bank of the Year.(Banking)
November 1, 2003... Standard Chartered Bank has won The Banker magazine s 'Bank of the Year' award for Africa. The award recognises Standard Chartered's range and quality of services, technical innovation and expansion on the continent. Added to the prize were...

Driving the dream: the new BMW 5-series: the Africa, Middle-East and Asian launch of BMW's revolutionary new 5-Series took place in the Malaysian city of Kuala Lumpur. African Business editor Anver Versi went to find out what the excitement is all about. Here is the report.(Wheels)
November 1, 2003... If you have preconceptions about what a BMW should be, prepare to drop them now. The new 5-Series does not look like, feel like or drive like any other car in the saloon range. It stands alone--like a thoroughbred racing horse among a herd of...

Battered Boks lose their spring.(Sporting Business)
November 1, 2003... South Africa's Springboks, once the most feared international team on the world stage, are now is disarray. A race storm over room-sharing, poor form, over-indulged 'stars' and a host of other ills now characterise this once great side. The...

Boom Times in a bust state: how Somalia rewrote the economics rulebook.(Book Review)
November 1, 2003... SOMALIA: ECONOMY WITHOUT STATE By Peter D. Little 12.95 [pounds sterling] African Issues ISBN 0-253-21648-6 Peter D. Little, a professor of anthropology at the University of Kentucky in the USA, describes the process of thinking and writing...

The Politics of Patronage in Africa: Parastatals, Privatisation and Private Enterprise.(Brief Article)(Book Review)
November 1, 2003... THE POLITICS OF PATRONAGE IN AFRICA PARASTATALS PRIVATISATION AND PRIVATE ANTERPRISE 12.95 [pounds sterling] Fountain (Uganda) ISBN 9970-02-171-0 In a not dissimilar way that Eboe Hutchful analyses the role of the international financial...

Ghana's Adjustment Experience: the Paradox of Reform.(Book Review)
November 1, 2003... GHANA'S ADJUSTMENT EXPERIENCE THE PARADOX OF REFORM 16.95 [pounds sterling] Woeli (Ghana) ISBN 9964-978-75-8 How did the Ghanaian state, after flirtations with structuralist theories and state interventionism in the early 1960s, followed by...

African Business Finance and Development Policy.(Book Review)
November 1, 2003... AFRICAN BUSINESS FINANCE AND DEVELOPMENT POLICY 19.96 [pounds sterling] The Faworth Press (USA) ISBN 0-7890-2085-8 This book sets out to present a number of articles to provide insights into successful business techniques and strategies for...

Makerere University in Transition 1993-2000.(written by James Currey)(Book Review)
November 1, 2003... MAKERERE UNIVERSITY IN TRANSITION 1993 - 2000 9.95 [pounds sterling] James Currey ISBN 0-85255-426-5 The presidents of four of the most powerful foundations in the US (the Carnegie Corporation, the Ford Foundation, the McArthur Foundation...

Zimbabwe's fight to the finish.(written by John L. Moore)(Book Review)
November 1, 2003... ZlMBABWE'S FIGHT TO THE FINISH The Catalyst of the Free Market By John L. Moore 65 [pounds sterling] Kegan Paul ISBN 0-7103-0872-8 This book challenges the Western interpretation that poor governance under President Robert Mugabe is the...

Coetzee wins Nobel Prize.(Book)(J.M. Coetzee )
November 1, 2003... The South African writer JM Coetzee has been awarded the 2003 Nobel Prize for Literature, worth SKr10m ($1.3m). The Swedish Academy, in making the announcement, noted that Coetzee's novels were "characterised by their well-crafted composition,...

A timeless simplicity: Malian singer breaks with tradition.(Sound Recording Review)
November 1, 2003... BOWBOI By Rokia Traore Toma Records Cat: LBLC2594 Rokia Traore's rise through the world music ranks flora a promising newcomer to fully-fledged star has been a meteoric one. Born into a well-educated Malian family, her father was a...