Tag Archives | business in Africa
FDI into Sub-Saharan Africa is expanding – in fact it is presently at its highest level in a decade – but it is notable that this injection of capital is increasingly being directed towards consumer-related markets, among others, and less towards the mining sector.
In this Africa Brief: East African countries are grappling with the challenge of how to fast-track training of oil and gas engineers after unexpected and continuing discoveries have positioned the region as a future global oil hot spot…Nigeria’s securities regulator was investigating pan-African lender Ecobank International over an alleged misstatement of its 2012 performance, a source at the Securities and Exchange Commission (SEC) said on Friday Nigeria’s SEC held meetings with Ecobank’s board of directors on August 6 to discuss the issue, which was raised by a suspended former head of finance at the bank, the source said, but did not elaborate as to what the bank was accused of misstating…
On the question whether ethical business in Africa is possible, and where, two qualifications are needed. The first qualification is this: asking the question should not imply that Africa is uniquely inclined towards bribery and corruption. Bribery and corruption are problems in Africa, they are not African problems.
“Is it possible to do business in Africa without having to cross moral boundaries?” This question is encouraging as an indication that moral considerations increasingly form part of strategic business decisions. The concern with ethical business is no doubt inspired by stringent and more diligently enforced legislation on corruption. The unfortunate consequences of corporate participation in corruption has been evident in the case of Siemens, for instance, who agreed to pay $1.34 billion in fines for bribery in December of 2008.
The English philosopher Francis Bacon once claimed “opportunity makes the thief”. The implication is that people are not born thieves, but thieves are created in the moment, in situations where opportunities for thievery exist. A second and more unsettling implication is that anyone is potentially a thief. Criminologists working from the opportunity hypothesis also propose that crime is the result of a rational choice in which costs and benefits are weighed up.
A global management shake-up at Toyota Motor has hit African shores, with local Toyota chief Johan van Zyl called in to head the new position of CEO of Toyota’s operations across Africa. Toyota has been restructured into two main businesses. There is Toyota Number One, which is the developed markets (the US, Europe and Japan), and Toyota Number Two, which are the developing markets. Dr van Zyl will take control of product planning, production and sales on the continent.
In a world that is looking for alternative investment destinations, Africa is seen as the next investment and growth frontier. In order for the continent to secure its place in the global economy, properly developed infrastructure – that can support business development across the continent – needs to be established.
Africa is well positioned as an emerging market and is a wealth of opportunity for investment and growth. The world is eager to do business with Africa, however finds it difficult to access the African market especially in the interior, primarily due to poor infrastructure.
Africa Brief: South Africa, investment destination, Africa Barrick Gold, Angola’s interest rate and more
SA remains the most attractive country in Africa in which to do business despite serious knocks to investor confidence during the past few months, two separate surveys showed yesterday.
SA moved up a notch to rank 14th out of 27 countries in a global emerging markets opportunity index, and remains the highest rated economy on the African continent, according to research compiled by business services company Grant Thornton.
The April 2012 World Economic Outlook report published by the International Monetary Fund presented a sturdy but cautiously optimistic future for the various African economies. Sub-Saharan Africa particularly recorded a strong 5 percent growth in 2011 and was one of the regions least affected by the global financial crisis. With the exception of South Africa, limited financial ties to Europe helped shield the region from the financial havoc that tore through Western economies in late 2011.