Posts Tagged: Africa

business — No Comments
3
Aug 09

The Recession and Africa

Pessimist: “The crisis could not have come at a worse time,” said Jose Gijon, chief Africa economist at the Organization of Economic Cooperation and Development, based in Paris. “Before the meltdown, many African countries had made significant progress in attracting foreign investment and private capital, and this could derail those efforts.”

and

Optimists: If you look at the losses we’ve experienced the past couple of years in America, you have to wonder which continent is the risky one.” Soud Ba’alawy Executive Chairman, Dubai Group, United Arab Emirates; Co-Chair of the World Economic Forum on Africa.
We want to be active. We want to see how we can use this crisis in terms of opportunities, in terms of bringing to full value the potential of . . . the continent.” Klaus Schwab Founder and Executive Chairman, Economic Forum

Here are two professionals describing the same event, the impact of the global economic crisis on Africa’s future. If this two were doctors who would you rather see? Perspective is everything. When change occurs, some see the end of the world and missed opportunities. Others see new opportunities.

Source: NYTimes and the publication from the World Economic Forum on Africa.

Economics — No Comments
31
Jul 09

They-We

They had the Y2K bubble, we have the great recession.
They had a direct undersea cable connected to Europe, we have SEACOM and O3B.
They had those awesome technical colleges, we have the diaspora.
Do you see it yet? The parrallel between India in 1998 and Africa now.

Economics / video — 1 Comment
19
Jun 09

Dollars & Danger: Africa, The Final Investing Frontier

Economics — 1 Comment
24
Apr 09

Speedlinks 04242009

1. Why are there so few critiques by African Economists of Dambisa’s book Dead Aid. All I found was this from @cho1. While the review was generally well done, I felt it was not fresh, he repeated quite a few points that had been mentioned by other reviewers. However Dr Mulenga’s review on the other hand is short and succinct. I enjoyed reading Dr. Mulenga’s review of Dead Aid. Note that the review is devoid of inflammatory statement and he acknowledges the pop-science nature of Dambiso’s work before ripping her apart. I like Africa Can’s review of Dead Aid too, it is fresh.

2.

source: Le Monde via Global Dashboard

3. Here is an African Brand that I can relate to;

Random — 2 Comments
2
Apr 09

Speedlinks 04022009

Some websites that popped up on my radar recently.
See Africa Differently - Possibly a lot of terrible things – like drought, hunger and disease. That’s hardly surprising when stories of African doom and gloom are always there for us to see on the telly, and read in the papers. But we’re here to tell you that Africa’s story isn’t all sad – in fact there’s some pretty amazing news to report about the world’s second largest continent.
StopAid – Wants to start a movement that ends Aid dependency in Africa.
Read It for Me - A billion brilliant business books (or so) pave the road to the cover of Fortune.  But who has time to read and remember them all?  ReadItFor.me does it for you. This idea packed, weekly podcast reveals the best takeaways and instantly applicable ideas from the world’s best business brains.
Project Diaspora and Yadsocial  and an African women magazine MIMI h/t Jeremy Weate

In the news:
Why Nigerians Are Investing in Ghana by Vice-President Mahama. Ghanaian Vice-President John Dramani Mahama has attributed the increasing exodus of Nigerian businessmen and other investors into the country to what he called a safe, secure, politically stable democratic environment in place in Ghana. – This Day
The Nigeria Stock market was the worst performing in January. I noticed a few bloggers working up some sweat over this, slow down guys this is just a statistical phenomena, if this had happened in the last quarter of last year it would not have made news. The NSE is lagging the international equity market by a few months. Gov. soludo says we will be alright.

Random — 1 Comment
21
Mar 09

Speedlinks 03212008

Economic Meltdown Hits Drug Traffickers PM
MTN takes phone banking to Africa -SA info
Making sense of Dafur – NPR
Africa and the Media: Who is Failing Whom? AE
Good African music, Pan African Orchestra. ht @Africatalk

Economics / Living — 2 Comments
11
Mar 09

Speedlinks 03112009

1. Economic ill winds hitting Africa – BBC  and a video. Recently the complaints (my informal measurement of the business climate) from colleagues on the African continent increased sharply. The forecast for the growth in real GDP for Nigeria is about 3%, which is one half of last years real GDP growth rate. I am surprised the forecast isn’t bleaker, as Oil prices have dipped up to 60%. See Nigeria’s Economic Outlook prepared by Standard Chartered bank. (hat tip: @InvestinAfrica). Not to worry the IMF has promised to hold our hands through this. Finally, according to Mr Kofin Anan;
Failure to compensate for loss of revenues to maintain essential public services could result in extraordinary human suffering, and reverse progress in achieving the Millennium Development Goals: It will also result in increased social and political tension.
2. FACTBOX-Africa and the global crisis. Who suffers most? – Reuters. 
A look at whats is going on with global economic crisis and where. A snapshot of the data as of today.
3. Social Capital Markets: Roxanne Miller on “Beyond Micro finance” – Next Billion
4. Something is wrong with this chart? Why are we paying a premium? From Bottom Billion Blog.
Thanks @Loomnie
5. June Arunga on Western Attitudes Towards Business in Africa – NYU-DRI via Vimeo 

June Arunga on Western Attitudes Towards Business in Africa from DRI on Vimeo.

6.  I did not make this up, someone from the Harvard Review did.

There would certainly be nothing wrong with this outcome except that their dependence on natural resource exports and a lack of economic diversification make such a leap all but impossible in a world where commodity demand is shrinking and where trade barriers might start growing again. Average Africans have much more to fear than fear itself. Who has the courage to stick by them?  

7.  Rwanda: The World’s Social Innovation Capital – BusinessWeek. 

Economics / Living / Politics / business — 2 Comments
25
Feb 09

Speedlinks 02252009

Continue reading →

Random — No Comments
7
Feb 09

Speedlinks 01062009

1. The Economic and Financial Crimes Commission (EFCC) may soon pin-down serving and former government officials who allegedly collected $180 million bribe from Halliburton to facilitate juicy Liquefied Natural Gas (LNG) contracts.  - This Day. $180 million bribe! There is no need to be dramati,c there are only a handful of individual that wield the power that can command this humongous bribe. Serve them this papers but let us get it over with.
2. The hunt for more active trading on Africa’s capital markets takes a new turn in February with the launch of the Africa Board on the Johannesburg Stock Exchange. The move by Africa’s biggest bourse could enhance market liquidity, says a top JSE official. – Africa News 
3. 60+ Resources For Entrepreneurs To Step Up and Take Charge - Applicant.
4. A very rare occurrence, a bank making money. Nigeria’s Sterling Bank Plc for its full-year to Sept. 30, 2008:(billions of Naira) 2008 2007 Gross earnings 36,300 23,864 and Profit after tax 6,583 1,938. Naira not dollars. -Forbes
5. The World Bank and the German government said Thursday that they hoped to inject as much as $600 million into micro-credit banks, fledgling institutions in developing countries that are being starved of financing as the credit markets have tightened. – NYTIMES
6. Now’s the Time to Invest in Africa Paul Collier has some pointers for Investors looking to dabble into the African continent. HBR

Random — No Comments
30
Jan 09

Speedlinks 01302009

Economists Go Back To Basics – W. Easterly in Forbes
I like this website, DicoveringAfrica.com, aggregating images with an  African slant. 
The G – 20 summit in London has a new website – G20 and One.org want Africa to be included in the summit, petition here.
The Youtube channel for Davos is decent. You can see Kofi Annan answering a few questions.
The Naira bounced to N146, this is good news though the Naira is still far from where the government would feel comfortable - Reuters
China In Africa For The Long Haul – IHT, like the Chinese had a choice. Hat-tip @Kofi Annan.

They are looking at 2009 and saying ‘This is a time we see as a very big buying opportunity. We’ve got the backing from government, we’ve got the financial means,” ‘ said Thys Terblanche, the bank’s head of mining and metals investment banking.

African Ownership – Global Dashboard
African Banks Discover Small Is Profitable – AfricanLoft
In My Head writes about a trip to Warri Nigeria – In My Head hilarious piece. 
Why African Leaders Can Not Solve The Zimbabwean Crisis – Alex Mathews
Mobiles vs. PC Debate – White African, I am with the lap top crowd. 
I have been having a blast with Nigeria Web Radio, you too can, that is if you are into cheesy Nigeria pop music. I urge you to give it a shot too I was not aware of my affinity cheesy lines too, until it sucked me in. 

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Featured / Politics — 3 Comments
6
Jan 09

A Boost For Ghana’s Success Story

Bad news about Africa travels fast and very pervasive. I am dissatisfied with the level of airplay that the successful conclusion of a legitmate democratic election in Ghana is getting. I just read the FT article; Election boosts Ghana’s success story.

A lot of people remember the excesses of the 20 years before 1992,” said David “Kojo” Awuah-Darko, chief executive of IC Securities Holdings, an Africa-focused investment bank, in Accra, the capital. “There’s absolutely no way, with all the investment that people have put into this country, that we want to go back.” Continue reading →

Economics / Politics / business — No Comments
6
Jan 09

Speedlinks 01062009

Band of Nomads – NYT photo essay
Famous Economists’ Famous Errors – Marginal Revolution hat tip Chris Blattman. I enjoyed the comment section on this particular post. I’d like to see Famous developmental economists’ famous errors.
Look who is making doomsday prophesies about Nigeria – Daily Independent 
From Doha to the Next Bretton Woods – CFR
Battle in a Poor Land for Riches Beneath the Soil - NYT
Who Gets US foreign Aid -Parade
Why Aid-Addicted Africa Remains In Deep Poverty - Booker Rising, this one is same ole stuff.

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video — No Comments
4
Jan 09

Africa In 2009: Perspective

Africa in 2009

Hat-tip Armelpost