African Business

African Business is a monthly business publication. Founded in 1966, IC Publications Ltd. publishes this magazine. The Editor is Anver Versi.

Articles from No. 306, February

African Bourses: Top Performances Reveal Hidden Potential; African Bourses, Shielded from the Sort of Global Turbulence That Has Affected More Mature Stock Exchanges, Have Performed Exceptionally Well. but, Moin Siddiqi Says, South Africa Apart, There Is Still Plenty of Room to Improve
The turbulence of the mainstream Western stock markets, and the low yields offered by the traditional safe-haven government debt of the US, Europe and Japan, has left institutional investors with little option but to take defensive measures. But if...
Air Senegal Builds on Success: With More Passengers, More Revenues and More Routes, Air Senegal International Is Continuing to Grow at a Rapid Rate. Stephen Williams Talked to the Company's CEO Farid Senhaji about Recent Developments
African Business: You became Air Senegal International's (ASI) CEO last year. What was your previous position? Farid Senhaji: I became the directeur-general, or chief executive officer, of Air Senegal International (ASI) on March 9 of 2004. Before...
Buying Fever Hits Lagos as State Unbundles Housing: The Property Market in Nigeria's Commercial Capital, Lagos, Has Been Buzzing since More Than 1,000 Housing Units in the Fashionable Ikoyi Area Were Released by the State for Sale to the Public. Ola Sheyin Has the Story
The Nigerian government is continuing with the downsizing of its landed-property portfolio in its erstwhile capital city of Lagos. [GRAPHIC OMITTED] In a recent announcement, a list of 1,105 housing units for sale in the sought-after residential...
Cocaine Kings Target Kenya: The Seizure, on Kenya's Tourist-Paradise Coastline, of the Largest Ever Drugs Haul in Africa Has Confirmed Worries That Sophisticated Drug Smugglers from South America Have Targeted This East African Country as a Base for Their Operations
Warm sea breezes, swaying palm trees and a laid-back lifestyle have made the Kenyan coast the number one African destination for European tourists. But now this East African paradise is also gaining a reputation for a seamier side of life. [ILLUSTRATION...
Dogs of War Bite Their Own Tails
During the 1960s, I came across a newspaper article by an 'old Africa-hand journalist' which was short for somebody who had spent time in Africa and therefore immediately qualified as an 'expert' on the continent; he began his piece thus: "Africa grows...
Economy Continues Impressive Performance: Tanzania, Once the 'Poor Man' of East Africa, Continues to Chalk Up Impressive Economic Growth Rates on the Back of a Boom in Gold Mining. Neil Ford Argues That Being Broad-Based, Tanzania's Growth Level Is Likely to Be Sustained over the near Future
The Tanzanian economy continues to perform impressively. GDP growth fell only slightly during the 2003-04 financial year, to 5.6%, down from an average of 6% since the turn of the millennium. While oil-rich countries are able to register double digit...
Egypt Enters Ranks of World's Top Gas Producers: Egypt's Oil Production Has Been Steadily Declining but a 20-Year Plan and Substantial Investment in the Gas Sector Should More Than Compensate for the Oil Production Loss. Egypt Could, in Fact, Become the World's Sixth Largest LNG Producer by the End of This Year
Many African countries with dwindling oil reserves have sought to compensate by developing their natural gas resources. Egypt, however, is going one step further, and its growing gas sector is likely to play an even bigger role in its economy than...
Fertility Treatment: US Would-Be 'Moms' Shop for South African Eggs
South Africa is becoming a favourite destination for would-be American 'moms' looking for fertility treatment. A US agency is organising 'fertility safaris' to Cape Town and is offering local women R13,000 ($2,158) to donate their eggs. The Santa...
Fighting Eats Up Vast Economic Potential: DR Congo, One of the Largest Countries in the World, Is Slowly Gearing Itself Up for National Elections in about Five Months' Time. in the Meanwhile, Fighting among a Bewildering Variety of Interest Groups Is Holding Back Real Economic Progress. Neil Ford Reports
Attempts to get Democratic Republic of Congo (DR Congo) politically and economically back on its feet are being undermined by several persistent conflicts, particularly in the north-east of the country. [GRAPHIC OMITTED] DR Congo possesses several...
Formula One to Roar Again in Africa: South Africa Has Been Given the Green Light to Stage Formula One Races from 2008 Onwards. the Financial and Publicity Benefits for the Country Will Be Enormous-But the Issue of Tobacco Sponsorship May Throw a Spanner in the Works
A South African consortium is determined to press ahead in its bid to stage a series of Formula One races in Cape Town from 2008 onwards. [ILLUSTRATION OMITTED] An unlikely combination of media and construction companies is driving the process...
Fowl Idea: The Eglu-What Every Discerning Bird Should Have
Latest thing for suburban homeowners is to awake to the gentle clucking of chickens and a newly-laid egg or two for breakfast--all happening in your garden. Recently on the market, and already hitting cult status in Europe, US and the Far East, is...
Giant Aircraft Will Boost Military Muscle: A Multibillion Rand Order for the Airbus A400M Troop and Equipment Air Carriers Means SA Can Intervene in Trouble Spots in Sub-Saharan Africa Quickly and Effectively. but There Are Those Who Say the Money Could Have Been Better Used in Other Sectors. Tom Nevin Reports
The announcement came out of the blue, and it was the clearest signal yet that South Africa has accepted the role of Africa's policeman. In a short statement, the government said it had ordered up to 14 gargantuan, high-tech military carrier aircraft...
Gold Fever in Kakemega: With the World Gold Price Nudging $400 an Ounce, and Widespread Drought Affecting Many Parts of Western Kenya, the Lure of the Precious Metal Is Back in Full Force-And This Time It Is Local Kenyans That Are Benefiting. Milan Vesely Reports
With the gold price soaring, just one thimble-full of the shimmering metal dust is enough to buy a cow in Kenya--perhaps even two. Peasant farmers in Kenya's Kakemaga district, bordering Lake Victoria, have been quick to cotton onto the rising value...
Industry Backlash over Cheaper Drugs: Faced with a Rising Demand for Medical Drugs from the Country's Poor, the Government of South Africa Put a Clamp on the Retail Prices of Medications-Leading to a Howl of Protest from the Pharmaceutical Industry. the Matter Is Now with the Country's Highest Court. Tom Nevin Reports
First it was a round of court battles over government foot-dragging in the treatment of HIV/Aids sufferers, now legal clashes are legion over the state's attempts to drive down the price of medicines. [ILLUSTRATION OMITTED] "I have received so...
King's Brazil Visit Opens Up New Trade Horizon: King Mohammed VI's First Ever Visit to Brazil at the Tail End of Last Year Is Already Yielding Positive Economic Results. A Free-Trade Agreement between Latin-American and Arab Trading Blocks Is Also on the Cards. Faycal Belhassan Reports
The first-ever visit by a Moroccan king to Brazil finally took place in November last, after years of work done by Lauro Moreira, director of the Brazilian Agency of Cooperation and former ambassador in Rabat. [GRAPHIC OMITTED] Moreira took over...
Live Now, Pay Later
Britain's Chancellor of the Exchequer, Gordon Brown, completed a six-day, four nation tour of Africa last month. This was to launch his version of the famous US Marshall Plan, but this time directed at fighting poverty in Africa. He has called his...
Seizing the Airwaves: Tune in If Yu Rankin'
REBEL RADIO DREAD BROADCASTING CORPORATION Trojan CAT: TJDD 167 Three decades ago, as Bob Marley blazed a trail to make reggae a huge pop-music success, there was reluctance on the part of big music companies to recognise it as any more...
Terror Code Puts Extra Burden on African Ports: The International Ship and Port Facility Security Code (ISPS) Was Created Last Year out of Fears of a 9/11-Type Terrorist Attack on US Ports. However, Implementing the Code Is Expensive, but Ignoring It Means Losing US Trade. How Can African Ports Cope? Neil Ford Analyses the Code and Its Impact
The 9/11 terrorist attacks upon the US have had many unanticipated effects but none were more unexpected than new investment in African port security and processing systems. [ILLUSTRATION OMITTED] Fears of a terrorist attack using cargo ships...
Troubled Telkom Kenya Finds S African Suitor: Despite Government Pledges, the Privatisation of Kenya's Only Fixed-Line Telecoms Provider, Telkom Kenya, Has Proved Problematic. but, as Derek Otieno Reports, a Suitor for the Troubled Corporation May Be Now Be Waiting in the Wings
South Africa's fixed-line operator Telkom SA is keen to take a stake in Telkom Kenya and has held talks with Kenyan authorities about a possible investment, a senior Telkom SA executive confirmed. [GRAPHIC OMITTED] But Mike Mlengana, Telkom SA's...
Virgin Enters Nigeria: One of the World's Most Flamboyant Entrepreneurs, Britain's Richard Branson, Has Now Turned His Attentions to Nigeria with the Setting Up of Virgin Nigeria Airlines-A De Facto National Carrier. but, Neil Ford Reports, Route Disputes with the US Could Darken the Skies Somewhat
Despite the presence of millions of small-scale entrepreneurs who ply their trade on the streets of Nigeria's cities every day, the country is yearning for an injection of entrepreneurial spirit. Decades of economic mismanagement and military corruption...
Voters Stay Away but Frelimo Romps Home: Apathy Characterised the Presidential and Legislative Elections in Mozambique. These Are Sure Signs, Says Tom Nevin, That the Public Is Losing Confidence in the Ability of the Ruling Party, Frelimo, to Deliver on Its Promises
It is said that the most momentous of elections are held in times of crisis: in economic chaos, political upheaval and social dissatisfaction. If the converse is true then, in Mozambique, apathy rules. Its December 2004 poll was characterised by two...