TRADEAFRICA 9/3/11
China’s future in Africa, after Libya
by Leslie HookBy 2015, China will be investing an eye-popping $50bn per year in Africa and bilateral trade with the continent will be $300bn annually, according to research from Standard Chartered.
But the future of Chinese companies in Africa may be under review, given the way that recent events in Libya have played out. China had a large presence there: more than 30,000 Chinese workers were living and working in Libya before the unrest broke out, according to Chinese official
March 08, 2011
Foreign investors discover the potential in African agriculture
Agriculture is one of the most important economic activities in Africa. In addition to providing employment, agriculture has the potential to transform African societies through the increased export of produce to Western markets.Many agree that transformation will not take place without increased investment in agriculture, including public or private loans to small farmers. Statistics show that Africa has about 12% of the world’s arable land but 80% of it is not in use. Observers say there are many opportunities to develop land and even make it attractive to agribusinesses.
Among those taking advantage of new opportunities are Kenyan farmers, including some who are now making millions of dollars exporting flowers.
March 08, 2011
South Africa banking on agriculture, agroprocessig for job growth
Lisa Steyn
Agriculture and agroprocessing are expected to create 500 000 jobs in South Africa over the next 10 years. The new growth path, as outlined in the budget speech on March 2, aims to reduce unemployment significantly by creating five million new jobs by 2020.
Agriculture and agroprocessing are expected to create 500 000 jobs in South Africa over the next 10 years. The new growth path, as outlined in the budget speech on March 2, aims to reduce unemployment significantly by creating five million new jobs by 2020.
March 08, 2011
Chinese firm to provide US$500 million for cotton cultivation in Zimbabwe
by George Chisoko
Massive seed cotton production is anticipated in the 2010/11 growing season after the Cotton Company of Zimbabwe)(Cottco) and Chinese firm Sinotex struck a US$500 million deal to finance local production and purchases through a contract growing scheme.
This should be good news to farmers who have struggled to produce seed cotton, owing largely to Cottco's inability to grow the inputs scheme to cater for a huge pool of farmers. source-africanagricultureblog
Massive seed cotton production is anticipated in the 2010/11 growing season after the Cotton Company of Zimbabwe)(Cottco) and Chinese firm Sinotex struck a US$500 million deal to finance local production and purchases through a contract growing scheme.
This should be good news to farmers who have struggled to produce seed cotton, owing largely to Cottco's inability to grow the inputs scheme to cater for a huge pool of farmers. source-africanagricultureblog
Foreign fishing fleets depleting a potential wealth resource
by Mary Kimani*Africa’s domestic fishing grounds are protected under international law. Why then, do foreign fishing fleets continue to exploit Africa’s waters and cause huge social and economic losses for the region each year? Every day hundreds of unlicensed fishing vessels enter African waters and trawl for shrimp, sardines, tuna, and mackerel. They cost Africa some $1 bn a year, according to 2005 study by DFID, the UK government’s official aid agency.
'Liberia imports its eggs from India' 10/3/2011
by Shubha SinghIf you order a couple of fried eggs for breakfast in any restaurant in Monrovia, the capital of Liberia, the eggs are almost certain to be from India. Almost 90 percent of pharmaceuticals sold in the West African country are also from India.
According to India's Honorary Consul General in Liberia Upjit Singh Sachdeva, 'There are no poultry and dairy farms in Liberia, and all the eggs are imported from India while chicken and meat are imported from South America and other countries.'
In fact, trade is just one of the ways in which the once war-torn country is trying to rebuild its economy. There are over 150 Indian companies operating in Liberia, ranging from small trading firms to manufacturing companies. Steel conglomerate ArcelorMittal has a major iron ore mine in Liberia.
According to India's Honorary Consul General in Liberia Upjit Singh Sachdeva, 'There are no poultry and dairy farms in Liberia, and all the eggs are imported from India while chicken and meat are imported from South America and other countries.'
In fact, trade is just one of the ways in which the once war-torn country is trying to rebuild its economy. There are over 150 Indian companies operating in Liberia, ranging from small trading firms to manufacturing companies. Steel conglomerate ArcelorMittal has a major iron ore mine in Liberia.
US investment bank sets sights on Nigeria
JP Morgan Chase wants to open a full branch in Nigeria by next year and representative offices in Ghana and Kenya as it tracks its multinational clients into frontier Africa, its regional head said."We have a very good business in Nigeria but it needs to be deepened in terms of customer reach and broadened in terms of our product offering," John Coulter, the U.S. bank's Johannesburg-based CEO for Sub-Saharan Africa, said at African Investment Summit on March 7.
"There's a lot of focus on Africa because our senior management sees a significant growth opportunity over the next 10 years and we're seeing our clients increasingly move here
Malawi reluctant to sign EPA
by Frank JomoMalawi won’t sign a trade deal with the European Union until the union helps the southern African country bring production standards to European companies’ level, Trade MinisterEunice Kazembe said.
Malawi, which has unreliable public utilities and poor technology standards, stands to lose should it sign the so- called economic partnership agreements as it would be forced to trade with the EU on zero-tax terms, Kazembe told reporters in late July in the commercial capital, Blantyre.
“We need to move cautiously otherwise the Malawi market will be flooded with European goods,” she said. “We want the EPAs to be of mutual benefit for the economic development of both sides.”
Peter Thompson, the European Commission’s director for development, said Malawi should show interest in continuing with the negotiations by making an offer that would lead to the two parties discussing how trade can be facilitated.
SOURCE-Tradeafricablog
“Africa is not for the faint-hearted, but it is the place to be,” Johan van Deventer, managing director of Freshmark, yesterday told the Africa Economic Forum conference in Cape Town.
1. Africa has a combination of rich and poor people
2. 2. Doing business in Africa requires patience and perseverance
3. 3. Operate with government support
4. 4. Long-term commitment
5. 5. Involving the local population
6. 6. Just because people are poor, doesn’t mean they want substandard products
7. 7. Variety of languages
8. 8. Stay focused on the opportunities
SOURCE- HOW WE MADE IT IN AFRICA MARCH 2011The top 10 richest African billionaires
The Forbes 2011 Billionaires List was recently released.
1. Aliko DangoteCountry of citizenship: NigeriaNet worth: $13.8 billionSource of wealth: Sugar, flour, cement , inherited and growing
2. Nicky Oppenheimer & family
Country of citizenship: South AfricaNet worth: $7 billionSource of wealth: De Beers, inherited
3. Nassef Sawiris
Country of citizenship: EgyptNet worth: $5.6 billionSource of wealth: Construction, inherited and growing
4. Johann Rupert & family
Country of citizenship: South AfricaNet worth: $4.8 billionSource of wealth: Luxury goods, inherited and growing
5. Naguib Sawiris
Country of citizenship: EgyptNet worth: $3.5 billionSource of wealth: Telecom, inherited and growing
6. Patrice Motsepe
Country of citizenship: South AfricaNet worth: $3.3 billionSource of wealth: Mining, self-made
7. Onsi Sawiris
Country of citizenship: EgyptNet worth: $2.9 billionSource of wealth: Construction, self-made
8. Mohamed Mansour
Country of citizenship: EgyptNet worth: $2 billionSource of wealth: Cotton trading, inherited and growing
9. Mike Adenuga
Country of citizenship: NigeriaNet worth: $2 billionSource of wealth: Banking, self-made
10.Yasseen Mansour
Country of citizenship: EgyptNet worth: $1.8 billionSource of wealth: Diversified, inherited and growing
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