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. 393, January

2012 A Year of Many Highs, Some Lows
2012 has been a major turning point on several fronts for African economies. Growth, except in the few countries still embroiled in internal conflicts, has been steady, there has been an increase in both intra-African as well as foreign trade, investments...
African Airlines-Liberalise or Die
THE TAIL END OF 2012 WAS A VERY GOOD month for aviation in Africa, particularly East Africa. Low cost carrier fastjet, based on the hugely successful easyJet model in Europe, began scheduled services from its current hub in Dar es Salaam to Mwanza...
Africa's Development Conundrum Too Rich to Rise? Why Is It Taking Africa So Long to Raise Its People out of Poverty and into Prosperity despite Its Wealth of Natural Resources? Could It Be Precisely Because of Its Natural Wealth That Africa's Transformation Has Been Held in Check? Asks Koffi Alle (Pictured Inset)
THE POST-CRISIS DEBATE ON POLICIES to revive the sluggish world economic recovery has brought back industrial policy to the centre of discussions on growth and development. Though scholars and policy makers still disagree on whether special treatments...
Agriculture Sector: Ready for Take-Off
The Agriculture sector in Ghana is the largest economic sector. It employs the most people of all and is also the most geographically diffused owing to Ghana having arable land in nearly all corners of the country. Out of a total land size of 23.9m...
A Mountain of Money: Cape Town's Table Mountain Has Now Been Declared One of the New Seven Wonders of the World. This Accolade Is Likely to Generate as Much as $10Bn in Economic and Marketing Value for the Country
When, in 1580, Sir Francis Drake rounded what is today Cape Point and beheld the cloud-bedecked plateau-topped mountain that he called "the fairest cape in all the world" he could never have imagined that four and a half centuries hence people from...
Building Africa from the Ground Up
International construction companies may be suffering from the economic downturn in Europe and North America but investment has never been greater in Africa. In common with any time over the past three years, the port sector continues to attract...
China in the African Commodity Space: China's Trade in African Commodities Is Entering an Interesting New Phase as Funding by State Organisations Is Being Tightened, Allowing New Players to Enter the Financing Space
OF THE $166.3BN OF TRADE BETWEEN China and Africa in 2011, around $93bn was African exports. In contrast to popular belief, China is importing more from Africa overall than it is exporting and this consists largely of mineral ores, hydrocarbons and...
Copying Is Not Stealing: Asian Companies, Especially Chinese, Are Constantly Being Accused by Western Manufacturers and Media of Stealing and Copying Ideas, and Infringing Patent Rights. but Professor Kwaku Atuahene-Gima Argues That This Is Not the Case. Reverse Engineering Is Perfectly Legal and, Indeed, the Most Efficient Method of Adapting Products to Emerging Market Needs
N0 ONE LIKES TO BE CALLED A THIEF or a cheat. Indeed, the easiest way to break the spirit and confidence of someone in any competitive activity such as sport, music, research, and other such endeavours is to charge them with being is a thief and a...
Country Brief State of the Economy: The World Bank Reports
In 2011 Ghana's economy grew at 14.4 percent boosted by new oil production and a rebounded construction sector. With oil production reaching its plateau, in 2012 GDP growth is expected to decelerate to 7.5 percent. * Monetary policy was effective...
Digging for Victory: Why Is It That despite the Fact That Africa Is the Richest Continent in Terms of Natural Resources, It Still Remains the Poorest Continent in the World? How Can the Continent's Extraordinary Mineral Wealth Be Utilised to Generate Development and Growth? These Critical Questions Were Vigorously Discussed during the Eighth African Development Forum (ADF) in Addis Ababa. MJ Morgan Was There
THERE IS NO DOUBTING AFRICA'S EXtraordinary mineral endowment; two thirds of the globe's platinum, 20% of its gold and uranium, half of all the diamonds and chromium, most of its bauxite, not to mention vast quantities of oil and gas. Even more...
Dream Realty
The Octagon can be described as the first of its kind: an office compound in Ghana. Located in Accra Central (within walking distance of Independence Square, Ministries, the courts in Accra and the High Street financial district that overlooks the...
Dream Realty
"So for I am very happy with choosing": Karim Ibrahim, the Managing Director of Dream Realty--one of the largest Lebanese-owned businesses in Ghana, talks about his choice of doing business in Ghana. [ILLUSTRATION OMITTED] Q How and why did you...
Fastjet Swoops into Africa: Editor Anver Versi Travelled to Dar Es Salaam for the Launch of the Low-Cost Carrier Fastjet. This, He Says, Could Signal a New Age of Cheap Air Travel for All, Similar to the Phenomenon That Has Swept Europe over the Past Two Decades
THERE WAS A SENSE OF NATIONAL PRIDE that Africa's first international low-cost carrier (LCC) fastjet had decided to launch its operations in the Tanzanian commercial capital, Dar es Salaam, rather than from Nairobi, Kenya. Tanzania has always been...
Financial Services: A Liberal and Competitive Arena
Ghana's financial service industry is a liberalised sector with free flowing and well regulated competition. There are strong players in Banking and Finance (including Non-Bank Financial Services and Forex Bureaux), Insurance and Financial market/capital...
From Congo to East Africa: Recordings of a Bygone Era
Sister Pili + 2 Moreno & I'Orch First Moja--One Sterns Cat: STC03062 IN THE 1970S AND 1980s, there was a trend for many talented Congolese musicians (from what was then Zaire) to travel to East Africa to seek fame and fortune, or at...
Ghana
Ghana is ideally positioned, at the centre of the West African coastline and always accessible by land, air and sea via modern road transport, airport and sea acilities. Proximity to American and European markets gives cost and time advantages, which...
Ghana's Energy Sector
The energy sector in Ghana contributes significantly to the economy. The sector can be classified into two main sub-sectors as follows: Petroleum sub-sector Power sub-sector. Petroleum and Gas Ghana discovered oil and gas in commercial quantities...
Ghana's Tourism Attractions
Natural Environment Heritage Relates primarily to the natural environment and ecology eg. national parks and reserves, animal sanctuaries, beaches, lakes, rivers, mountains and waterfalls and generic scenic beauty. Historic Heritage Primarily...
GIPC: Promoting Ghana's Investment Opportunities
The Ghana Investment Promotion Centre (GIPC) is the Government agency re-established under the GIPC Act 1994 [Act 478 (1994)] to promote and facilitate investments in all sectors of the economy except mining, petroleum, free zone activities, portfolio...
Government Must Cooperate, Not Alienate
African Business took the opportunity to discuss the situation in Tunisia with Fadhel Abdelkefi. CEO of the Tunisie Valeurs Group and chairman of the board of the Tunis Stock Exchange, and Hedi Larbi, director and advisor to the MENA region vice-president...
How the Sino-African Relationship Is Influencing the Rest of the World
China's rapid advance into Africa has sparked a heated debate not only among ordinary citizens and analysts but also within the corridors of world power. The West accuses China of neo-colonialism while China responds that its policy of noninterference...
Information & Communication Technology: A Competitive Industry Full of Opportunities
The Information & Communication Technology sector in Ghana is one of the most competitive in Africa. Home to six telecom operators and several others providing internet and broadband services, the sector is testament to the wisdom of the liberalisation...
Infrastructure: Primed for Investment
As a developing country, Ghana's infrastructure needs are many and diverse. The main areas of concern are water and sanitation, telecommunications, electricity, and roads and transport. [ILLUSTRATION OMITTED] Water and Sanitation Ghana's water...
Interview with Mr. Kweku Andoh Awotwi
Q Tell us about the mission and objectives of the Volta River Authority. A VRA has been around for over 50 years with a primary mandate to supply electrical power to the entire country. We used to be the sole producers of electricity in Ghana, and...
Investment Procedures
0l Registration with Registrar General's Department Incorporate a company at the Registrar General's Department and obtain the following: * Certificate of Incorporation * Company Regulation * Certificate to commence Business The department...
Is It Time to Legalise Rhino Horn Trade
One of the world's most magnificent animals, the rhino is in serious danger of extinction largely due to the value placed on its horn--which is presently twice as expensive as gold. Traditional methods to stem the tide have largely failed. Now conservationists...
Kenya's 50 Dramatic Years
This year marks 50 years of Kenya's independence. These have been drama-filled years under three presidents with vastly differing styles of government. A new administration will take over later this year. What have these years been like and what does...
Kwatsons (Gh) Ltd
The Journey so far ... KWATONS (GH) LTD. is a pioneer and leader in import and distribution of premium brands of food, beverages, personal care, toiletries and more ... KGL started its operations in 1985, with the vision to enhance the lifestyle...
Laurus-Who Are They?
Laurus Development Partners (Laurus) is an investee company of Actis--a private equity investor with US$1,5 billion invested in Africa. Actis focuses on emerging markets and launched the first sub-Saharan African private equity real estate fund in...
Mining: Abundant Opportunity in a Vibrant Sector
Industrial minerals are geological materials which are mined for their commercial value, They are not fuel (fuel minerals or mineral fuels) and are not sources of metals (metallic minerals). They are used in their natural state or after beneficiation...
Pirate Attacks Cut by 75%: At Long Last, a Multinational Task Force Seems to Be Winning the Battle against Pirates Operating off the Coast of Somalia. Pirate Attacks Reduced by a Staggering 75% Last Year Compared to 2011. What Has Made the Difference? Tom Nevin Has the Details
SELF-DEFENCE IS TURNING OUT TO BE one of the most effective measures in thwarting pirate attack off the Somali coast in the northern Indian ocean. And vessels protected by on-board private security units are performing best of all. [ILLUSTRATION...
Property Development: Real Estate Sector Still Booming
The property development market in Ghana is currently in its infancy: the market is growing as the younger generation of Ghanaians realise that the capital gains made from property is a quick path to wealth in periods of rapid inflation. The industry...
Public Debt Worries for Private Sector: Ghana's Soaring Public Debt and Its Cumbersome Tax System Is Hitting Business Hard, Reports Francis Sackitey from Accra
DESPITE GHANA'S HIGHLY touted macroeconomic growth, the private sector is not happy with the country's high tax rates and domestic debt level. Both the Association of Ghana Industries and the Ghana Chamber of Commerce has expressed concern saying the...
Roads and Transport
The Transport sector is made up mainly of road transport, maritime and water transport, civil aviation and rail. Road transport is the major carrier of Ghana's land transport system, currently taking up about 98% of freight and 95% of passenger traffic....
Samsung Set to Make a Clean Sweep in Africa: Nokia's Decade-Old Stranglehold on the African Mobile Market Is under Severe Pressure from Samsung. by Customising Its Products, Such as Television Sets, to African Conditions, the Korean Electronics Giant Seems Set to Sweep All before It over the Next Few Years. Francis L. Sackitey Reports
AFRICA HAS ALWAYS BEEN A HOT MAR-ket for electronic gadgets such as mobile phones, computers, cameras, refrigerators, microwaves, television sets. But the mobile phone remains the most popular electronic gadget in Africa and the African love affair...
Some High-End Properties Coming to Market: Actis & Laurus Development Partners
Sunrise Sunrise is a mixed-use development project comprising hotel, offices, retail, and residential with ample parking space. It is located on a 7 acre premium site in Accra, in proximity to Kotoka International Airport and to Liberation Road,...
Sonapack Ghana Ltd: Company Profile
SONAPACK Ghana Ltd is a subsidiary of the Rossmann Group, a pioneer in the corrugated cardboard industry since 1922 with a presence in Africa since 1986. SONAPACK began fabricating in Ghana after its incorporation in 2007 and is currently the only...
The Biggest Problem Is Reducing Injustice: Pascal Lamy, in This Interview with Hichem Ben Yaiche, Discusses the Role of the WTO in an Ever-Changing Environment, the Pros and Cons of Globalisation, Protectionism and Unfair Terms of Trade and Africa's Current Status on the World Economic Stage
Today, the world is going through a structural crisis, experiencing a shift of economic powers and the emergence of a new set of operational rules. In this scenario, is the World Trade Organisation (WTO) still relevant? Of course! And what's more,...
The Ghana National Petroleum Corporation GNPC
Founded in 1983, the State Oil Corporation hopes to become a leading global oil and gas company partnering international operators such as Tullow, for the benefit of all Ghana and its people GNPC Chief Executive, Nana Boakye Asafu-Adjaye, says the...
The Japan Motors Group of Companies
100 YEARS IN GHANA The Kalmoni Family, one of the oldest Lebanese families in Ghana, celebrated its centenary anniversary of business operations in the country in 2012. In 1912, prior to the First World War, the grandfather of the current MD...
The Lebanese Community in Ghana
"The Lebanese presence in Ghana dates back to 1884; this is what the records say. They came to this country on their way to Latin America where we have a big population. For one reason or another, those people were dropped on the coast here. For some...
The Market
There are currently over 200 registered service providers in this sector. The services offered cover the broad range of oil field services listed below and other general services such as accounting, auditing and legal. Upstream Petroleum Sector...
The Market
The number of Deposit Money Banks (DMBs) and Non-Bank Financial Institutions (NBFIs) remained unchanged between 2009 and 2010, at 26 and 46 respectively, while Rural and Community Banks (RCBs) increased from 134 to 135. The number of DMBs' branches...
The World Bank Reports
Country Context The discovery since 2007 of major oil and gas deposits in waters off the coast at the western extremity of Ghana's maritime limits, and the rapid development of those deposits, has the potential to bring significant economic development...
The World Bank Reports
Ghana's mining sector is critical to its economy, tax and export receipts. It hosts vibrant private investment from multinational concerns as well as small-scale operations. Following the revision of its national accounts in 2010, Ghana accessed to...
The World Bank Reports
The Ghana-Africa Infrastructure Country Diagnostic Report AICD (2010) estimates that raising the country's infrastructure endowment to that of the region's middle-income countries requires addressing both efficiency and a funding gap of US$1.5 billion...
The World Bank Reports
Ghana has a number of significant strengths and considerable opportunities but these are finely balanced with significant weaknesses and threats. The country has been an early pioneer, both in terms of developing software and attracting call centre...
The World Bank Reports
Ghana's agriculture sector strategy is organised around six priority themes. These are Food Security and Emergency Preparedness; Increased Growth in Incomes; Increased Competitiveness and Enhanced Integration into Domestic and International Markets;...
Tourism: Opportunities & Main Attractions
Ghana is endowed with a wide range of natural, cultural and historical attractions, which offer a wide variety of tourism products. Above all, Ghana's people have a reputation for friendliness which is worth its weight in gold in attracting international...
Why Africa Will Rule the 21st Century
According to the authors of a new book, The Fastest Billion--the story behind Africa's Economic Revolution, Africa's current sustained growth level is set to not only continue but rise over the next four decades so that, come 2050, the continent's...
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