African Business articles from October 2008

African Business archives from October 2008

Gambia shining brightly.(Power)(Letter to the editor)
October 1, 2008... As the graphic in Africa's Progress Report (African Business July 2008 issue) covers the period 2004-07, an update would have been helpful as the power supply situation in some African countries has dramatically changed--much to the worse in...

A troubling development.(Zimbabwe)(Letter to the editor)
October 1, 2008... I read your report on the situation in Zimbabwe and the frantic efforts to broker an agreement between Zanu-PF and the MDC with a sinking feeling (Last Chance Saloon--African Business August/September 2008). Am I the only reader who fears that...

A ground-breaking initiative.(It must be FATE)
October 1, 2008... I have just come across a truly groundbreaking initiative and would like to share this information with your readers, especially those youths in Nigeria who might benefit from it. The FATE Foundation is a non-profit, private sector led...

Not just in South Africa.(Greedy Banks?)(Letter to the editor)
October 1, 2008... I read your Countryfile article from South Africa, Greedy banks under spotlight, (African Business August/September 2008) with some interest. Here in the UK, similar issues been raised with British banks. A recent investigation by the UK's...

What to do about trade.(Business Action)
October 1, 2008... You might be interested to learn that Business Action for Africa, an international network of over 200 businesses, business organisations and development partners, has called on global leaders, in business and in government alike, to respond to...

Walking tall.(journeys to inspire)(management of chess player Amon Simutowe)
October 1, 2008... Backed into a tactical corner, and staring down the barrel of defeat in the most critical game of his career, Amon Simutowe was on the ropes. With twenty two seconds on the clock remaining, few would have predicted the remarkable sequence of...

Massive solar tower mooted for Namibia.(Power)(Brief article)
October 1, 2008... Still on the drawing board and rapidly attracting interest is a gigantic conceptual solar energy tower 3,000m tall and 280m wide-bigger than two soccer fields back-to-back-designed to soak up the sun's rays and convert them into electricity for...

SAA managers paid millions to stay put.(Management)(South African Airways)(Brief article)
October 1, 2008... A dearth of top level black management skills is forcing South African government parastatals to pay fat "retention bonus" to keep managers at their desks. Government owned South African Airways, for instance, will pay 17 executives a total of...

Tanzania-Kenya road upgrade.(Infrastructure)(Brief article)
October 1, 2008... The China Geo Engineering of Beijing has won a $60m tender to reconstruct the 110km Arusha-Namanga road in northern Tanzania. Construction on the three-year project was due to start in September with funding from the Africa Development Bank...

Africa to spruce up for 2010.(Public Relations)(African Public Relations Association)(Brief article)
October 1, 2008... Africa's spin-doctors are set to roll out an image-polishing campaign ahead of the 2010 World cup finals in South Africa. The programme, organised by the African Public Relations Association (Apra), will showcase Africa's achievements in such...

Malawi rewarded for economic reforms.(Funding)(African Development Bank )(Brief article)
October 1, 2008... The African Development Bank (AfDB) has more than doubled to $200m its development funding to Malawi under its two-year soft loan lending cycle. According to AfDB president Donald Kaberuka the bank decided to increase the allocation for Malawi...

Mozambique's coal export drive.(Minerals)(Brief article)
October 1, 2008... Mozambique is set to become a coal exporter within two years, after completing the reconstruction of a railroad from the country's second port of Beira. In response to international demand for minerals, particularly coal, big mining companies...

Afriqiyah continues expansion.(Aviation)(Airbus S.A.S.)(Afriqiyah Airways)(Brief article)
October 1, 2008... Afriqiyah Airways, the Libyan-based airline, has taken delivery of two new Airbus 319 aircraft, part of a 26 aircraft order the airline placed with Airbus last year. Afriqiyah Airways plans to operate the new planes in a two-cabin...

Tanzania drives EA conservation management skills.(Wildlife)(Brief article)
October 1, 2008... East African countries will from next year benefit from a graduation flow of young men and women skilled in environmental and wildlife conservation with the launch of a modernised course in wildlife tourism. The one-year course at Tanzania's...

Vodacom acquires Gateway.(Telecoms)(Vodacom Group and Gateway Communications Inc. )(Brief article)
October 1, 2008... Gateway Communications has been acquired by the South African-based Vodacom Group for approximately $675m. Commenting on the purchase, the Vodacom Group's chief executive Pieter Uys said: "We believe that Gateway's significant presence across...

Ring-road seals China-Niger Delta partnership.(Development)(Brief article)
October 1, 2008... China has become a top development partner in the Niger Delta, Nigeria's 2.1m barrels-a-day oil producing area, with the signing of a $1bn roadbuilding deal. The project involves the laying of a highway around the volatile city of Port...

Record spend by China, India on African projects.(Investment)(Brief article)
October 1, 2008... Investment commitments in sub-Saharan Africa by such emerging financiers as China, India, and a few Middle Eastern Gulf nations have jumped from less than $1bn a year before 2004 to $13bn in 2006/07, says a new World Bank report. The new money...

WB calls for new HIV/Aids dynamics.(Health)(World Bank)(Brief article)
October 1, 2008... The World Bank says health authorities should be concerned that the rate of the HIV/Aids epidemic and environment are evolving and emphasises the need for a localised, evidence-informed response to HIV/Aids. A new report, The Changing...

New WTO deal could favour emerging nations.(Trade)(World Trade Organization)(Brief article)
October 1, 2008... A breakthrough in the deadlocked WTO talks could mean a new global free-trade pact being agreed. If the deal is signed, it could mean poor countries finally enjoying the fruits of freer global trade. The process, dubbed the Doha Round of trade...

Strong regulators are vital.(growth of banking sector in Africa)(Editorial)
October 1, 2008... The rise and rise of Africa's banking sector continues to astonish even seasoned Africa observers like us. Ever since we began our annual rankings five years ago, the assets and profitability of African banks have only moved steeply upwards....

African business' annual rankings.(Africa Top 100 Banks)(Brief article)
October 1, 2008... Africa's banking sector, miraculously spared the fallout from the subprime disaster, continues to consolidate growth and improve performance. The total assets of the 100 banks that appear in our rankings reached $856bn-a rise of 36% over...

How we ranked the Top 100 African banks.(Africa Top 100 Banks)(Glossary)
October 1, 2008... We ranked the Top 100 African banks according to their Tier 1 capital. This comprises: (1) Common shareholders' equity and retained profits or net earnings; (2) Qualifying non-cumulative preferred stock (up to a maximum 25% of core capital);...

A world class industry in the making.(Africa Top 100 Banks)(International Monetary Fund)(Industry overview)
October 1, 2008... As an emerging market, Africa represents an exciting opportunity for investment and future banking growth. The region is experiencing its fastest economic development in decades, with relatively low inflation, robust trade expansion, increased...

Africa's top 100 banks.(Statistical table)
October 1, 2008... Rank Bank Date of Country Capital ($m) results 1 Standard Bank Dec-07 S. Africa 8,015 Group (Stanbank) 2 FirstRand Banking Jun-07 S. Africa 5,169 ...

Competition would spur growth.(North Africa)(rankings of banks)(Statistical table)
October 1, 2008... North Africa has clearly been the second most important banking centre on the African continent after South Africa for several years. After South Africa's big five, North African banks filled four of the top 10 rankings in last year's...

Nigeria still king of the hill.(West Africa)(Survey)
October 1, 2008... Our survey of the biggest financial institutions in West Africa is heavily dominated by a single country. As last year, Nigerian banks fill a staggering 19 of the top 20 positions, so it is difficult for the West African giant to entrench its...

Sudan joins banking revolution.(Central Africa)
October 1, 2008... Our Central Africa region for this year's survey has been revamped to include Sudan. Gabon's BGFI retains top spot with capital of $115m but this is a big fall on last year's $185m and possibly a reflection on falling Gabonese oil production....

Kenya leads but Ethiopia is pressing.(East Africa)
October 1, 2008... Despite growth among almost all of the region's leading banks, East Africa as a whole has lost ground in this year's assessment of Africa's top banks. The number of financial institutions in the region making it into our Top 100 has fallen...

Angola leads best of the rest.(Southern Africa)(Company rankings)
October 1, 2008... Our Table of the Top 25 Banks in Southern Africa has a familiar feel to it, with the South African big five continuing to dominate the regional table as completely as they do the continental survey. However, there has been a marked...

Abidjan port regains its regional importance.(PORTS AND HARBOURS)(Interview)
October 1, 2008... Cote d'lvoire's Abidjan port is the country's maritime gateway and a vital asset for many of West Africa's land-locked countries. Since 2006, the port has been regaining much of the trade it lost following the civil conflict that flared in...

How do you rebrand an icon? In terms of image, what can be more dangerous than to re-brand a favourite icon? Yet that is exactly what happened when one of Africa's best loved telecoms brands, Celtel, metamorphosed into Zain. Anver Versi tells the story.(TELECOMS)
October 1, 2008... As the Eurocopter--really little more than a glass bubble under the rotors--lifted off from Nairobi's Wilson Airport, Mario, formerly Kenya Air Force and now our pilot, pointed out the city's landmarks. Below us was a huge urban sprawl,...

Is triple play the answer?(TELECOMS)
October 1, 2008... Despite the massive growth of the mobile phone industry, Africa is still lagging far behind in terms of access to other information technology services. The dearth of good fixed-line networks, for example, is inhibiting the use of the internet....

Regional integration a step closer: SADC launched its Free Trade Area at its summit in Johannesburg, but as tom Nevin reports, much has yet to be done, especially in transport infrastructure, before the full inter-regional benefits will be enjoyed.(SADC)(South African Development Community)
October 1, 2008... With little of the hype, pomp and ceremony that has attended similar occasions, the South African Development Community (SADC) launched its Free Trade Area (FTA) and flung open the gates to virtual tariff and barrier free trade between the...

Levy Mwanawasa Architect of Zambia's economic transformation; The untimely death of Zambian president Levy Mwanawasa has robbed Africa of one its progressive leaders. Tom Nevin pays tribute to the man who transformed his country's economy 'simply by getting on with the job'.(IN MEMORIAM)(In memoriam)
October 1, 2008... It seems Levy Mwanawasa was more loved by the people of Zambia than he realised during his often contrary presidency. Dour, and described by many as unapproachable and non-communicative, his popularity was not due to his charm and affability,...

Cities of Light--dream or reality? One of the world's greatest construction companies, the Dubai-based Al Noor, wants to create two magnificent cities and a bridge that will link Africa to the Middle East. It sounds impossible--but can it happen? Anver versi went to find out.(CONSTRUCTION)
October 1, 2008... Imagine two brand-new, shining cities with glittering skyscrapers, the most modern mass-transit systems, business and leisure parks, ultra-modern sports, health and education facilities, beautiful villas, boutiques, hotels, golf courses,...

GM foods: hobson's choice for Africa; Africa once had the potential to become the breadbasket of a considerable part of the world but today is regarded as the global face of hunger. The solution, according to some, is genetically modified crops, with all its implied dangers. Does Africa have a choice? asks Khadija Sharif.(TOPIC)
October 1, 2008... Genetically modified (GM) technology the product of multinationals such as Monsanto, DuPont and Syngenta--is often touted and presumed to be a priority in the path to saving the poor and hungry of the world, many of whom reside in Africa. ...

Are the metal markets being irrational? After a period of sustained, at times even explosive, price rises, august saw falls almost across the board in metals markets as anxieties about slowing world economies abound. Mathew Morgan examines the outlook.(COMMODITIES)
October 1, 2008... The benchmark metals index, the S&P Goldman Sachs Commodities Index (GSCI), is down over 17% on the quarter to date. World growth, especially where it has been most rampant in China and India, has been made possible by Zambian copper, South...

Scramble for the big time: with half-a-million football fans with money to burn flocking to South Africa for the 2010 soccer World Cup, locals are figuring out how to get their slice of the pie. But which of the multitude of schemes will actually work out?(WORLD CUP WATCH)
October 1, 2008... Virtually everyone you meet in South Africa these days has a 'Plan' The hot topic is how to get a slice of the reputed tens of billions of rands that will be generated by the greatest soccer show on earth-the 2010 World Cup. And ideas are...

When the going gets tough: so far it has been relatively plain sailing for Africa and China as their trade relationship blossomed. But what will happen now that circumstances have become more challenging? Matthew Morgan investigates.(China--Africa)
October 1, 2008... Events in recent weeks have taken the edge off the growing optimism associated with China's burgeoning trade relationship with Africa. Whilst there can be no doubt of the rapidly growing scale and significance of trade links between the two,...

European and African MPs form common front: Africa will suffer the worst impact of climate change although it has done the least to cause it. The question is who will pay the mitigation costs? This and other critical issues were discussed in a groundbreaking forum held in Nairobi and involving European and African legislators. Anver Versi reports.(SPOTLIGHT)
October 1, 2008... While the EU Trade Minister Peter Mandelson was busy trying to strangle African trade with Europe though the notorious Partnership Agreements, it was encouraging to see another set of Europeans, members of Parliament, forming alliances with...

Robben Island in troubled waters; Nelson Mandela's world-famous prison home for 18 years is sinking under the weight of a multitude of financial and regulatory problems.(SOUTH AFRICA)
October 1, 2008... If there is a shrine to South Africa's liberation heroes it is Robben Island. It was on this small, 1km wide patch of arid earth in the Atlantic Ocean some 11km from Cape Town, that struggle icons led by Nelson Mandela were incarcerated for...

Sunshine for airstrip safety: with only 4.5% of the world's air traffic, Africa is responsible for 25% of total accidents. These are mainly due to outdated and non-functioning equipment such as airstrip lights. Albert Muriuki discovers that a Canadian company may have the solution that Africa needs.(KENYA)
October 1, 2008... In 2003, a 24-seater Gulfstream carrying senior members of Kenya's newly sworn-in cabinet took off from a desolate airstrip in Busia--a remote town in western Kenya but the aircraft never made it far from the badly neglected airstrip. It...

Manufacturing under stress: Nigeria may have the largest domestic market in Africa and may be attracting greater FDI than ever before, but its manufacturing sector has been going downhill rapidly. Williams Ekanem explains why the country's producers are raising the alarm.(NIGERIA)
October 1, 2008... During the African Nations Cup football tournament in Ghana earlier in the year, Nigeria, which considers itself the 'champion' of Africa in most aspects of life, had to swallow the bitter pill of defeat against their arch West African rivals,...

Africa's beautiful game; Reporting a phenomenon.(Book review)
October 1, 2008... Elephants, lions and eagles A journey through African football By Filippo Maria Ricci [pounds sterling]9.99 When Saturday Comes ISBN: 9780-9540-1349-3 With less than two years to run until the 2010 Soccer World Cup is...

Fast track to stardom: Bamako's Rail Band.
October 1, 2008... Mansa Rail Band Sterns Africa Cat: STCD3039-40 On the eve of Mali's independence in 1961, the National Railways Company of Mali opened the Buffet Hotel de la Gare de Bamako. It was located in the heart of the capital of this...