Tag Archives | Europe
Egypt’s oil production has been in decline for almost two decades; however this has been offset by the development of the natural gas industry. In fact, natural gas production has increased fivefold since the mid-1990s. Up to around 2004, gas production had increased by just enough to cater for rising consumption levels. Between 2005 and 2006 there was a surge in production, contributing to significantly higher hydrocarbon exports and growth of the region’s GDP.
Although Africa’s aviation industry, which supported $67 billion (R662.6bn) in economic activity and 57 million jobs, was small by global standards, its potential to grow was “enormous”, with a billion people spread across 20 percent of the earth’s land mass. International Air Transport Association chief executive Tony Tyler said yesterday.He pointed out that hopes for African unity and integration depended on connectivity provided by air transport. Tyler said international passenger demand continued to grow in April, extending the positive trend that had been developing since late last year.
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.
With a population of one billion and an economy likely to double in size from US$2 trillion to US$4 trillion before 2025, Africa has quickly emerged as the next economic driver for the global economy. While the success of Africa’s rise is well-founded, a far more granular approach to grasping the nuances and realising the opportunities is essential. This goes beyond country-by-country assessments. A deeper assessment of this economic energy and growth reveals that it will be largely driven by Africa’s emerging cities. The nature of the business environment in Africa will increasingly demand a far more city-oriented investment approach.
Africa Brief: Zimbabwe tries to keep rules, manufactured goods exports, AU ban on NGOs at summit and more
Zimbabwe was trying to reach an agreement to distribute its stones directly to China, Dubai and Israel without violating rules against the sale of gems from the Marange fields. The proposal would not violate Kimberley Process rules because Zimbabwe outside of Marange was certified compliant in 2010. Zimbabwe produced 8 million carats of diamonds worth $865 million (R8 billion) last year to be the seventh-largest producer.
The 2012 Africa Tax Academy took place in Nairobi, Kenya, from 9 to 11 July 2012, followed by a client breakfast with presentations by KPMG professionals from different jurisdictions on 12 July 2012.
Approximately 80 delegates attended the conference from countries such as Kenya, Nigeria, South Africa, Uganda, Rwanda, Sierra Leone, DRC, Malawi, Zambia, Botswana, Ghana, Tanzania, but also from Germany and Switzerland.
NOT a single rand was raised in this country for investment in early-stage or venture capital-type investments last year. These are the investments that spawn new technologies out of which, if they are successful, new industries are grown and thousands of new jobs created. So why is there such a truly astonishing lack of investment? Speaking at the launch of the KPMG/ South African Venture Capital Association annual Private Equity Industry Performance Survey, KPMG director Warren Watkins told a meagre audience it wasn’t so much a lack of ideas and effort, since there is a more than adequate supply of these, but rather the comparative absence of incentives similar to those applied in other countries.