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. 354, June

African Ports Thrive despite Economic Gloom: Almost Every Sector in Every Country Is Suffering from the Ongoing Global Economic Crisis. Factories Are Being Closed, GDP Forecasts Downgraded and Belts Tightened. Yet the African Port Sector Is One of the Few Genuine Examples of Optimism, Growth and New Investment. Neil Ford Reports
Logistics in Africa Many of the continent's seaports are bucking the global trend of weak economic indicators; trade volumes are rising, cargo-handling equipment is being upgraded and new ports are being constructed, as the world's biggest port...
Aid Flows to Africa under Threat as World Recession Bites: Since the 2002 Monterey Consensus, Global Aid to Developing Countries Has Been Rising, but the Severity of Western Governments' Financial Woes Could Put a Brake on Future Official Development Assistance (ODA) Flows, Otherwise Known as Aid
This reduction in aid flows could prevent the ambitious targets for the Millennium Development Goals (MDGs) agreed in 2000--with a strong emphasis on education, healthcare and basic infrastructure--being achieved. "We need to react in real time to...
A World Vieux
Fondo Vieux Farka Toure Six Degrees Records Cat: 65703 1158 Having a famous papa can be more of a curse than a blessing. For every Femi or Seun Kuti, the musician sons of Afrobeat star Fela Kuti (or Wolfgang Amadeus Mozart come to that)...
Beira Corridor
The end of the 16-year civil war in Mozambique has permitted the extraction of resources, an activity that had been untenable during the conflict, various major infrastructure projects are now under way to enable exports from the country and its neighbours....
Business Responding to the TB Challenge
Health is increasingly an issue of importance for the business sector. As was stated by Alex Azar, senior vice-president for corporate affairs with Eli Lilly, one of the world's biggest pharmaceutical companies, "Businesses have a fundamental responsibility...
Ensuring Africa's Voice Is Heard: African Business Spoke to the Africa Director of the WEF, Katherine Tweedie, about This Year's Programme, Which Again Promises to Be Invigorating and Varied in Terms of Coverage
Omar Ben Yedder: We now live in a fast-moving environment; what we've seen happening in the past year would have once taken five years or more to unfold. In terms of our response to these changing circumstances, is it more difficult to find an agenda...
Ghana's Economy Wobbles: The Ghanaian Economy Is Not Totally Immune to the Effects of the Global Economic Downturn Although Its Impact Has Been Relatively Limited, Reports Stephen Gyasi Jnr from Accra
When Dr Paul Acquah, governor of the Bank of Ghana, reported that private remittances coming into the country during the first three months of this year declined 7.3% to $1.98bn compared to last year, it was a clear indication that the global financial...
I Am Not a Great Man-I Am a Man of the People
South Africa's new President Jacob Zuma has endured an unenviable spotlight throughout his political ascendancy, a period which has seen him bear the brunt of lawsuits, acrimony and a barrage of negative media coverage during his nerve-tingling wait...
Indigenisation Law Triggers Mining Dispute: Following the Collapse of Commercial Agriculture, after the 2000 Land Redistribution, the Country Is Now Setting out on a Path to Redistribute Ownership of Companies That Exploit the Country's Munificent Resources-Among Others. M J Morgan Reports on the Controversy This Move Has Aroused
Jack Murehwa, the former president of the Zimbabwean Chamber of Mines, has criticised the new legislation requiring companies to divest their ownership to indigenous residents. Until now, industry representatives have been keeping their powder dry...
Investment How to Cut the Cost of Africa's Cross-Border Transport: It Costs 60% More to Transport an Item in Africa Than It Does for the Same Item over the Same Distance in the US or the UK. Most of This Expense Is Caused by Unnecessary Red Tape and Ends Up Costing African Economies Billions in Lost Efficiency and Investment. What Can Be Done? Asks Omari Issa
Stories about difficult trade experiences are commonplace in Africa--so much so that it is easy to overlook the very damaging impact that trade barriers can have on businesses and investor confidence. The implications for domestic businesses, which...
Journeys to Inspire Walking Tall
LEONEL DA ROCHA PINTO Angola FROM REFUGEE CAMP TO BOARD DIRECTOR The story of an astonishing journey 1976: A refugee camp on the border between Angola and Namibia. A bleak, desolate area not far from the Namibian town of Rundu is now...
Landmark Ruling Allows Apartheid Victims to Sue Multinationals: In One of the Most Significant Legal Rulings in the Post-Apartheid History of South Africa, Victims of the Apartheid Regime Have Finally Received the Green Light from a US Judge to Sue Multinational Corporations That Knowingly Aided and Abetted the Apartheid Regime. the Implications of This Ruling Are Colossal, Not Only for Africa but Globally. Khadija Sharife Reports
In a landmark 144-page judgment last April, Southern District of New York Judge Shira Scheindlin found that some of the world's largest multinational corporations were engaged in aiding and abetting apartheid, torture, extrajudicial killing and other...
Piracy Is 'Killing' Ghana Music Industry: The Ghanaian Economy Is Not Totally Immune to the Effects of the Global Economic Downturn Although Its Impact Has Been Relatively Limited, Reports Stephen Gyasi Jnr from Accra
Once one Of Africa's leading lights, the Ghanaian music industry, has been heading south for the last few years. It urgently needs its stakeholders and the new government to put into place the appropriate structures and policies to arrest a downward...
Politicians Impaled by the Satirist's Pen: Comedians and Cartoonists Had a Ball Poking Fun at South African Politicians in the Run-Up to the General Elections. Tom Nevin Reports
South Africa is a quickly developing society of the savvy, the smart, the trendy and the tolerant, the latter having blossomed in the last 15 years when the country's 42m or so black people suddenly found themselves part of a political society that...
Ports: Pointe-Noire's New Container Port Construction Launched
The President of the Republic of the Congo, Denis Sassou N'Guesso, and Vincent Bollore, president of the Bollore Group, have officially launched the construction phase of the modernisation and expansion of the container terminal at Pointe-Noire. It...
South Africa's Key Corridor Solutions: Transnet Plans to Upgrade Five Key Corridors and Ensure That Rail Capacity Talks to Ports Capacity. Tom Nevin Reports
To achieve our growth strategy--our horizon for the next few years--we felt that the most logical and pragmatic solution was to prioritise transport corridors, says Moira Moses, chief executive of Transnet Capital Projects. "We have identified five...
The Myth of Africa's Skills Drain: While We Tend to Complain That Professionals Such as Nurses Are Being Lured by Better Salaries to Work in Europe and the US While They Are Desperately Needed at Home, It Now Appears That These Same Professionals Are Not Being Offered Jobs in Their Home Countries despite the Obvious Demand for Their Services. Why Is This So?
Whenever I visit the US, I am constantly surprised at how little most Americans know of the various options available to foreigners seeking to become US citizens--and especially of the 'Electronic Diversity Visa Lottery', usually known as the 'Green...
The Other Side of the Coin
It is an interesting coincidence that just when Africa once again comes under the baleful glare of the 'corruption police' with the publication of It's Our Turn to Eat an expose of corruption in Kenya--scandal upon scandal is engulfing the UK Parliament....
The Zuma Era Begins a Practical, Pragmatic Cabinet: President Zuma Has Revealed a Pragmatic Approach in Naming His New Cabinet. His Creation of New Ministries, Splitting of Others and the Individuals He Has Appointed Has Been Broadly Welcomed Both in South Africa and Abroad. Farhiya Ali Ahmed, Reporting from Johannesburg, Has the Details
South Africans and the international community have in the main greeted President Jacob Zuma's cabinet appointments as an appropriate response to public calls and concerns. President Jacob Zuma named his new cabinet at a media conference the day after...
Unscrambling Africa: One of the Thorniest Problems in Africa Today, the Issue of Land Reform and All Its Economic and Political Implications, Was the Theme of the Last African Presidential Roundtable Held in Berlin, Germany. African Business Editor Anver Versi Was Invited to Attend This Usually Closed Event. Here Are His Reflections
The African Presidential Round-table in Berlin, (see African Business, March 2009) organised by Boston University's APARC, was a rare opportunity to sit with some of Africa's great leaders of the past and discuss current issues facing the continent....
Vital North-South Corridor Gets Green Light: Lusaka Was the Venue for Perhaps the Most Important Conference on African Logistics to Date. the High-Level Gathering, Which Included Presidents and International Institutions, Came to Grips with Proposals to Raise Funding of Some $2Bn to Undertake a Massive Logistical Infrastructure Project, the North-South Corridor. M J Morgan Reports
Given Africa's perennial logistical difficulties brought about largely because of inadequate and underinvested infrastructure, it was with some excitement, as well as trepidation that 350 representatives from Tanzania, DR Congo, Zambia, Malawi, Botswana,...
WEF-Implications of the Global Economic Crisis for Africa: With Government and Business Leaders Arriving in Cape Town for This Month's World Economic Forum on Africa (WEF-Africa) Summit, Omar Ben Yedder Provides a Preview of What Will Be One of Africa's Most Crucial Meetings of Recent Times
Last year, the talk at the World Economic Forum's (WEF) Africa meeting was of a continent becoming an interesting and exciting investment destination. Oil prices were hitting record highs, commodity prices were booming and stock markets were peaking....
We Will Battle Global Crisis on Equal Terms-AfDB: This Year, the African Development Bank's Annual Meeting Focused on the Critical Issue of the Continent's Response to the Current Global Economic Crisis. It Drew Its Largest-Ever Participation and Arrived at Some Vital Decisions in a Bid to Steady the Continent in the Face of the Economic Storms. Anver Versi Was There
There was no question that the 44th annual meeting of the African Development Bank (AfDB) in Dakar, Senegal, last month was easily the most critical of this decade. The theme said it all: 'Africa and the financial crisis: An agenda for action'. ...