African Business articles from October 2003

African Business archives from October 2003

Is Nepad our saviour?(Economics)
October 1, 2003... I really appreciated Anver Versi's editorial 'Who Rules Africa?' in the August/September 2003 issue of African Business. Yet at the beginning of the editorial's conclusion, I felt a little dubious. I consider the assertion about Nepad (New...

Africa's heavy-weight champion!(Double Standards)
October 1, 2003... When I first came across American Business magazine earlier this year, I almost passed it by. It didn't seem of much interest to me because the name suggested it was only a journal for African business people, but when I flipped through the...

Adding value.(Subsidies)
October 1, 2003... I refer to Anver Versi's editorials in the last two issues of your magazine, as well as the prize letter in the August-September issue. I think there is a fundamental oversight in their analysis of Western farm subsidies. My point is this....

Damoscene conversion.(Change of direction)
October 1, 2003... I was very interested to read the review of the book Unbinding Africa in the July issue of African Business. As the review made clear, the essays contained in this book should spark a lot of debate. What also intrigued me was reading that...

Buyers not interested in SA's ivory stockpile.(Wildlife management)(Brief Article)
October 1, 2003... Despite fighting tooth and nail for the right to sell its stockpile of elephant tusks, South Africa has still not found a buyer for the 30 tons of ivory it is vending. The Conservation Ministry was hoping to rake in around R20m for the stash....

African single currency in 2021?(Finance)(Brief Article)
October 1, 2003... If the governors of Africa's central banks have their way, the continent will usher in a single currency on 1st January, 2021. That's the date set by the annual meeting of the Association of African Central Bank Governors in Kampala. Noting the...

New twists in the battle for diamond fields.(Legislation)(Brief Article)
October 1, 2003... The on going battle between the South African government and the traditional owners of the diamond-rich Richtersveld territory in north-western South Africa has taken a couple of new twists. The indigenous Nama (Khoisan) people claimed the land...

Namibia, Tanzania pull out of Comesa.(Regional economics)(Common Market for Eastern And Southern Africa)(Brief Article)
October 1, 2003... The Common Market for Eastern And Southern Africa (Comesa) has lost the membership of Namibia and Tanzania as the organisation realigns itself into a more regionalised body. Burundi and Rwanda will join the free trade area in January next year....

Namibian land reform boost.(Agriculture)(Brief Article)
October 1, 2003... Germany has ploughed N$200m into Namibia's land reform programme and rural development as the country takes its first steps in the redistribution of its farmland. A technical committee appointed by the Namibian government to blueprint a land...

SA worst hit in the world.(Economic crime)(South Africa)(Brief Article)
October 1, 2003... South Africa is a greater victim of economic crime than anywhere else in the world, says a world-wide survey by financial services company PricewaterhouseCoopers. Nearly 80% of the 91 South African firms sampled listed asset misappropriation as...

Chad joins the millionaire's club.(Oil)(Brief Article)
October 1, 2003... Oil has begun flowing along a 1000km pipeline linking Chad's Doba basin with Cameroon's Karibi terminal. The start-up of Africa's latest off-producing nation means that one of the world's poorest countries could be heading for the...

Bitter harvest for Kenya's sugar crop.(Agriculture)
October 1, 2003... Kenya's sugar growers, claiming non-payment for last year's crop and rising production prices, are abandoning their farms, according to the Kenya Sugar Board's CE, Andrew Otieno. High input costs of herbicides, fertilizer and transport together...

Africa's first Muslim-specific game reserve.(Tourism)(Brief Article)
October 1, 2003... South African tourism moved into the age of ethnic specialisation with the pending opening of the country's fast game reserve catering specifically for Muslims. Kwantu Game Reserve in Eastern Cape province is the brainchild of Port Elizabeth...

AB guide to African currencies.
October 1, 2003... [pound sterling] COUNTRY CURRENCY STG ALGERIA (Dinar) 123.62 ANGOLA (New Kwanza) ...

Creating our own wealth.(Editorial)(Africa)
October 1, 2003... The clash between the developing world and the rich nations during the World Trade Organisation's Ministerial at Cancun, the millionaire's playground in Mexico, reflected the state of the world in microcosm. Here we had the classic...

Banking on Africa.(Banking In Africa)
October 1, 2003... After a fairly harrowing transition period marked by bank failures and gross mismanagement, African banking has now settled into a consolidation phase. Liberalisation of the sector has brought in foreign players and with them new techniques and...

Stepping into the modern world.(Banking In Africa)
October 1, 2003... Africa--'the continent of great possibilities'--needs a more diverse and sound banking system in the interest of both depositors and the wider economy. This is vital for sustainable development, robust GDP growth, the funding of productive...

Liberalising the banking sector.(Banking In Africa)
October 1, 2003... Most African banking markets are now fully open to foreign participation. Privatisation offers a channel for global banking groups to acquire prime indigenous banks. The IMF notes "A fully privatised competitive banking system is a critical...

South Africa: Africa's banking powerhouse.(Banking In Africa)
October 1, 2003... South Africa boasts an exceptionally sophisticated banking industry, the pride of Africa. It has developed first-world clearing, settlements and default procedures, whilst derivatives (futures, options and swap markets) are well regulated. ...

African Banks rankings the top 100 Sub-Saharan Banks.(Banking In Africa)
October 1, 2003... African Banks rankings The Top 100 Sub-Saharan Banks By capital (US$m) Bank County Capital Assets 1. Standard Bank Group South Africa 2971 45,104 2. ABSA Group ...

A bank for the 'unbankable'? Millions of South Africans at the bottom end of the income pyramid have long been regarded as 'unbankable' and previous attempts to set up banks for this sector have failed. But now the Communist Party has come up with a scheme it believes will work.(Banking In Africa)
October 1, 2003... What would Marx, Lenin and Mao have said? A communist bank? Socialists sitting down with capitalists? Unlikely and unthinkable? But that's exactly what's happening on the South African financial scene. The South African Communist Party (SACP)...

MSI Cellular: MSI Cellular shows the way for African investment capital.(Company Profile)
October 1, 2003... Visit Africa and you are likely to come in contact with the Celtel brand, one of the continent's fast growing mobile communications networks owned by MSI Cellular, the company which is demonstrating how best to apply investment capital in...

Cheap flights revolution comes to Africa: South Africa and Kenya have joined the low-cost airlines phenomena that has revolutionised air travel in the developed world. By offering cheap, no-frills fares, the new airlines are cashing into a market waiting to be expoited.(Aviation)
October 1, 2003... Amid the turmoil which has been inflicted upon the global airline industry as the result of the 9/11 terrorist attacks upon the United States, the war in Iraq and the associated war on terrorism, a number of successes have been registered by...

Can ports deliver the goods: Africa's economy will grow by 1% to an average of 4.2% this year, according to the U.N. If this is so, and if that trend continues, can the continent's ports cope with the new business?(Special focus: African ports)
October 1, 2003... Nepad, the African Union's grand design for the continent's social and economic salvation, will view the UN's growth forecast for Africa both as a comfort and a warning. It will be encouraged that Africa's prospects are finally on the upswing,...

Chad: the tip of the spear: a revolution is taking place in the dust bowls of southern Chad, one that will have a profound impact on how African countries do business with the major oil companies in the future. If the Chad 'experiment' works, it could usher in a new era in the use of Africa's natural resources.(Dateline USA)
October 1, 2003... Chad's annual revenues are about to take a quantum leap upwards. Thanks to the newly discovered oil reserves at the Miandoum oil field the country will have a net surplus for the first time in its history; something unthinkable only two years...

Road accidents are Africa's third biggest killer: Africa's roads are the most dangerous in the world, but with a growing awareness of the true cost of road accidents, initiatives are underway to dramatically improve their safety.(Transport)(World Bank's Global Road Safety Partnership)
October 1, 2003... Road traffic accidents are known to be a major cause of death and disability throughout the developing world, but nowhere is the problem so acute as sub-Saharan Africa. Bad roads, aged vehicles and lax regulations are all considered ma jot...

Taking with one hand and giving with the other? When President Olusegun Obasanjo kept his election pledge to remove fuel subsidies, the country rose in uproar and subsidies were subsequently reinstated, but at a lower level. But not all, including the IMF and Western donors, were pleased with the move.(Oil And Gas)
October 1, 2003... Many African governments seek to counter the wide swings in the international oil price by controlling domestic prices for refined petroleum products. The theory is that subsidies can be used when the oil price is high and then the money...

Strong country, weak economy: Senegal is now the strongest and most stable Francophone country in Sub-Saharan Africa but the economy does not do justice to this status. The reasons for the declining economic performance are hard to fathom but fathomed they must be if rapid improvements are to be made.(Country focus: Senegal)
October 1, 2003... The IMF once considered Senegal a model economy but today the country is on the verge of joining the UN list of Least Developed Countries (LDCs). Unlike in many other parts of Africa, it is difficult to put a finger on exactly why the...

Ecobank: a unique achievement in Africa: the success of Ecobank is a tribute to the people who had the vision to look beyond geographic, historical and cultural barriers and to see the potential of a regional commercial bank. They joined their efforts to create the transnational bank to support West Africa's development.(Company profile Ecobank)(Ecobank Transnational Inc.)
October 1, 2003... Ecobank provides a classic example of the value of a regional financial institution. With its head office in Lome, Togo, the group has 12 subsidiaries in West and Central Africa. With 60 branches and 1,670 employees, it is the largest bank in...

Lesotho & Swaziland: Lesotho and Swaziland, cradled within the South African ambit, are transforming their natural resource, water, into wealth through a series of massive development projects.(Countryfile)
October 1, 2003... Turning water into money Given their size and geographical location, it is not surprising that the economic fortunes of Swaziland and Lesotho are so closely tied to South Africa. Lesotho is totally surrounded by Africa's largest economy...

East Africa: Kenya has been actively working to make the East African Community, which includes neighbouring Tanzania and Uganda, into a viable entity through economic harmonisation and removal of all customs barriers but its neighbours are not so sure about the benefits.(Countryfile)
October 1, 2003... EAC: A marriage of unequals? When President Mwai Kibaki and his NARC government came to power at the turn of the year, the list of election pledges had a familiar ring to it. A new constitution, a crackdown on corruption, rapid economic...

Malawi: Malawi recently marked the tenth anniversary of the referendum which saw the introduction of democracy in the country and the end of the dictatorial regime of Dr Kamuzu Banda. Neil Ford assesses what the country has achieved, and not achieved, over these 10 years.(Countryfile)
October 1, 2003... Small, but sure steps in the right direction The story of the rise and fall of autocracy in Malawi has a familiar ring to it. Dr Kamuzu Banda became Prime Minister in 1963, one year before independence, and instituted a one party state...

South Africa: South African employers, under pressure to employ black executives are overlooking sham qualifications and fuelling a growing criminal industry specialising in producing fake certificates.(Countryfile)
October 1, 2003... Degrees of suspicion Walk into Agrippah Mabire's office in downtown Johannesburg and you could consult a highly qualified medical man or a business doctor. Either way he has the 'certificates' to show he's just the chap you're looking for....

Gongs for UK's top Ghanaians: London was the venue for a glittering event which recognised and honoured the business achievements of Ghanaians living in the United Kingdom.(Events. Ghana Professional Achievers awards)
October 1, 2003... London's elegant New Connaught Rooms was the place to be as the cream of Ghanaian professionals and business persons gathered for what has now become a showpiece of African talent abroad, the annual GPA Awards. The awards ceremony, now in its...

Plus ca change? the launch of the C3-based Pluriel, and the unveiling of the C-Airlounnge concept car, revives memories of the past triumphs of one of the world's greatest auto-makers, Citroen.(Wheels)
October 1, 2003... The C3 Pluriel, with all its innovation and flair, has rekindled memories of the Citroen's glory days. The latest car to carry the two chevron badge clearly echoes the extraordinary deux chevaux, or 2CV. The 2 CV, developed by Citroen just...

Chequebook athletics.(Sporting Business)
October 1, 2003... Kenyan athletes Stephan Cherono and Albert Chekurui are raisin8 eyebrows; and not just by setting world records in long distance running. What is causing a stir is that both have changed nationalities--and religions--to run for Qatar and earn...

The trials of being Africa's superpower: emergence of the rainbow nation.(Beyond the Miracle Inside the New South Africa)(Book Review)
October 1, 2003... BEYOND THE MIRACLE INSIDE THE NEW SOUTH AFRICA. BY ALLISTER SPARKS 14.99 [pounds sterling] Profile ISBN 1-86197-337-3 This is the third book in a trilogy completing a broad ranging analysis of South Africa's complex and turbulent history,...

Broken Dreams.(Book Review)
October 1, 2003... BY JIDEOFOR ADIBE 6.99 [pounds sterling] Adonis & Abbey ISBN 0-9545037-0-8 The first title from a new publishing house is this novella from Jideofor Adibe. It tells a story that begins at the time of the impending Biafran civil war Pete...

Bay of Tigers.(A Journey Through War Torn Angola)(Book Review)
October 1, 2003... A JOURNEY THROUGH WAR TORN ANGOLA BY PEDRO ROSA MENDES 12.99 [pounds sterling] Granta ISBN 1-86207-497-6 Pedro Rosa Mendes is a young Portuguese journalist who, in 1997, decided to journey across Africa from Angola to Mozambique. Travelling...

Discovering Home.(Book Review)
October 1, 2003... A SELECTION OF WRITINGS FROM THE 2002 CAINE PRIZE FOR AFRICAN WRITING. Jacana (South Africa) ISBN 1-919931-55-4 The Caine Prize for African Writing is awarded annually for a short story by an African writer published in English. Now in its...

The Full Cupboard of Life.(Book Review)
October 1, 2003... BY ALEXANDER MCCALL SMITH 8.99 [pounds sterling] Polygon ISBN 0-9544075-0-4 This is the fifth novel in the No. 1 Ladies Detective Agency series. Once again we are transported to Gaberone, capital of Botswana, and enter the world of Mma...

Mortals.(Book Review)
October 1, 2003... BY NORMAN RUSH 18.99 [pounds sterling] Jonathan Cape ISBN 0-224-03709-9 This is another book set in Botswana, but it is very different to The Full Cupboard of Life. Mortals is the final book in Norman Rush's trilogy on the Western presence...

Singer of the people: Mauritania's female griot.(Malouma Mint Moktar Ould Meidah)
October 1, 2003... DUNYA MALOUMA Marabai Cat: 46806.2 Malouma Mint Moktar Ould Meidah, known simply as Malouma to her growing army of fans, was horn into a griot family. A griot is a practitioner of the West African tradition of praise singing. To be a griot...