Tuesday, November 28, 2006

Which City in Africa is Considered Best for Business? Continued.

I was hoping by now to have an answer for you. Or at least to be able to tell you that I am hot on the trail. But I have started my search and so far it has not been very easy...to say the least. This is beginning to turn into a long term project, which is not a bad thing. However, in all honesty this project is 10 times bigger than I expected. But, we are not running from this one...

For starters, I am not finding one single source for researching this information; although it must be out there somewhere. So the answers are presenting themselves to me in ways that beg more questions:

  • Instead of "what is the best city in Africa for doing business?"
  • It is "what city in Africa is best for let's say the IT or maybe the industrial businesses?"
  • Then we might want to know if the city that fits well with IT business do well with all sizes of companies?
Perhaps thatt is how we will present the findings- by industry and business size. If you have suggestions, please let us know. In the meantime, the search continues...

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Vote of Thanks!


To everyone out there who has visited or who does visit The Benin Epilogue, let me say that you are appreciated.
It has been wonderful reading your comments, learning that you have been subscribing to this web log, or even telling others about us . Don't mean to get sentimental here...but since thats where we're going with this post, I'll be brief and just say thank you.
Now that that's out of the way let's have fun and continue sharing!

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Monday, November 27, 2006

Which City in Africa is Considered Best for Business?


The Benin Epilogue Part I is on a quest to find Africa's most business friendly city. This is partly out of curiosity and partly just in case I ever decide to relocate. But hey, if you are ever considering moving to Africa to start a new business this is for you too. So I am curious, if my sole occupation was that of a business person and I was certain that I wanted to be in Africa to start a new business, where would it be?

This is a question that maybe we can find the answer to with a combination of web surfing, maybe checking out some embassy information, and just asking people who have been there and done that. My plan is to publish my findings in the next post-stay tuned!!!

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Wednesday, November 22, 2006

A Paradigm Shift in African Business?


"A Paradigm Shift in African Business?" is about major changes, of recent, that have radically changed the way that business is done in Africa. These can be technological changes, cultural changes, changes revolving around national relationships, policy changes, natural resource related issues, or any other change that has vastly affected the business landscape-across the continent.

My vision for this ongoing post is to make it a very interactive dialogue. What I am trying to say here is please post your "nominations" here-which changes of recent do you think have changed the way that business is done in Africa and why?

I will be the first volunteer-Cellphones. Cellphones have revolutionized the way that business is done in Africa. The cellphone has quickened the pace of business across Africa and become the missing link in intra-continental communication. Local cellphone companies in Africa were able to do this over a relatively short period of time-something that landline and fiber optic
service providers in Africa are still yet to do on such a large scale.

*Affordable communication betweeen neighboring countries
*Fleet management
*Stock market updates
*Banking for rural and underserved communities

Those are just a few of the activities that have become more efficient with the widespread usage of cellphones in Africa. What do you think? Remember to post your comments here and feel free to sign the guest book at the bottom of this page.

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Thanks,
Benin

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Saturday, November 18, 2006

Today's Profiles in Entrepreneurship in Africa (Week 2): Gloria Serobe



Last week in our Today's Profiles of Entrepreneurship in Africa we talked about Aliko Dangote . Today our discussion takes us all of the way to Johannesburg, South Africa to learn about a woman named Gloria Serobe. Before we get into today's discussion let me say that even in today's international business landscape if you take a look at most large corporations-you might notice that the majority of key positions are held by men. In some emerging markets this might be even more pronounced. However, it has been so wonderful for me to watch as societies worldwide have begun to recognize the strength of gender diversity.

Today, as I mentioned, we are discussing the distinguished career of South Africa's Gloria Serobe. Her march to lead women's economic freedom in South Africa began at her birth place- Cape Town, South Africa. She was born to a large family where there were nine other siblings in her household. Maybe just as notable was the fact that there were many merchants and business people in her family. At an early age her family introduced her to a determination and perseverance that would carry her on unto her current achievements. She was one of a handful of girls to attend St. Johns boy's school in Umtata, Transkei- in fact she was one of the first to do so. From there she went on to earn her undergraduate business degree from University of Transkei and her exemplary work earned her the recognition of the US Fulbright program. Her Fulbright Scholarship award took her to Rutgers University in New Jersey, where she attained her MBA. After her formal education Serobe became an accountant for Exxon. She was soon able to take the experience gained from her accounting job and springboard her career into investment and merchant banking with Standard Corporate & Merchant Bank. By this time Ms. Serobe had the skills that it took to become an executive and she and two colleagues co-founded an investment organization called Wiphold. Additionally, she became an executive director for Transnet, a South African government owned conglomerate.

The company that Ms Serobe co-founded is unique in two ways: 1. ) that its purpose is to empower women through investment and 2.) that it's secondary focus is to take the stock market to South Africa's black population. From the looks of it, I'd say that they are a gigantic success. They represent 300, 000 women investors and over 50% of the stock owners are black. They invest primarily in the Johannesburg Stock Exchange or as it is called in South African parlance the JSE. However, their crowning achievement is a large transaction that Serobe helped them to negotiate with Old Mutual Insurance Group( a London based insurance group which writes roughly 30% of the insurance policies written in South Africa) a deal worth 7.2 Billion Rand( or approximately $990,085,392.00 in today's US Dollars). This is a stock purchase deal, financed via vendor financing which would create roughly 500,000 women and black South African shareholders in the company. This secures Gloria Serobe's spot as a mover and shaker not only just within South Africa's business climate, but also amongst business leaders worldwide.

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Please feel free to respond, comment, or sign the guestbook at the bottom of the page. Also, do let me know if there is someone that we may write about next week-Thanks.

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Thursday, November 16, 2006

OK, I Promised...But I'd Like Your Thoughts....

I know I promised that The Benin Epilogue Part I would stick to business in Africa...and that is just what I intend to do. So as much as possible I will try to refrain from any tone of politics on this post.

I say that because this post is about the China-Africa Summit 2006, this has been a much publicized event. As one surveys the blogs covering the growing trade relationship between these two regions, one notices that people are really worked up about it. From what I have been reading people want to know how this Summit will affect policies in African nations; as well as China and people also want to know who stands to gain more-Africa or China. Outside of these larger picture social and poltical dynamics, I havent heard much about how you feel Africa's various business commuinties will be affected by a more visible Chinese presence.

What are your thoughts:

  1. What types of African entrepreneurs will this benefit?
  2. Which homegrown African industries will be affected?
  3. Do you see this spilling over into larger employment by African firms?
  4. Or will there be any increase in demand for finished African products?
  5. Will this result in a "sellers market" for African entrepreneurs, given that there will be more buyers? If so, will this translate into a more equitable economic environment for African businesses?

I appreciate your comments and look forward to hearing from you! Of course, I love your comments. But, if you can't comment at this particular time- but would like to let us know that you were here; please sign and View my guestbook

photo courtesy of Chippla


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Sunday, November 12, 2006

Today's Profiles of Entrepreneurship in Africa: Aliko Dangote



Today's Profiles of Entrepreneurship in Africa, is about why Africa's future is so bright. Periodically, The Benin Epilogue will bring you this series to highlight how entrepreneurship is ushering a new era into Africa's political and economic landscape. I will make every effort to highlight both indigenous entrepreneurs doing big things in various African countries, as well as non-resident entrepreneurs who are finding success in Africa. This is just as much about the private sector lifting public burden; as it is about giving the common entrepreneur, with no connections, in Africa just as much of a chance at winning that an parliamentarian's son would have. This is also why foreign and local investors alike would be wise to look to Africa as the investment destination of today and tomorrow.
Today we are talking about Aliko Dangote. Mr. Dangote is a Kano, Nigeria born business man, he is also the founder of The Dangote Group. We chart his business beginnings to Kano, Nigeria; the year is 1977. This is the year that he received a small sum of money from a relative. He used this capital to buy commodities, which he later sold and reinvested the proceeds. From these commodities, he opened up into building materials.....the rest "as they say" is history.
A survey of today's Dangote Group would find a business conglomerate whose market covers Nigeria, as well as a huge portion of West Africa. The company is a market leader in sugar importation ( to the tune of 400,000 metric tonnes or 70 % of Nigeria's total requirements). This imported sugar is refined in the group's sugar refinery in Lagos, Nigeria and this sugar factory is reputed to be the largest on the African continent and the third largest in the world. The Dangote Group also imports rice, cement, fertilizer, and fish-just to name a few. Additionally, the group exports cocoa, cotton, sesame seed, and ginger.
There's more...the group is a major producer of textiles and has a major stake in one of Nigeria's largest salt processing companies.
All of the above is enough to put a striving entrepreneur cub, like me, in awe. This is not what made me choose Mr. Dangote as the topic this post-his confidence in Africa, however, is amazing. To say that his investment strategy is patriotic would simply be an understatement. He has made investment promotion in Nigeria and in other parts of Africa his own personal cause. And I don't know this for sure, so don't quote me; but I wouldn't be surprised if he banked right there in Lagos.....

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Thursday, November 09, 2006

from Voice of America: on Namibia

Unique joint venture joins top Namibian university with a leading British business association to create a much anticipated regional business development center in Namibia

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Wednesday, November 08, 2006

From the Ghanaian Chronicle









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Tuesday, November 07, 2006

Investing in Africa: Where's the Love for the Malawi Stock Exchange?

Investing in Africa: Where's the Love for the Malawi Stock Exchange?

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Jewels in the Jungle: Uganda: PBS Frontline/World feature on microfinance programs in Africa

Jewels in the Jungle: Uganda: PBS Frontline/World feature on microfinance programs in Africa

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Africa Unchained: African Business Flickers Even More

Africa Unchained: African Business Flickers Even More

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Friday, November 03, 2006

Purpose


I have been enthralled by Africa for quite some time now. Because of my deep passion for the continent I initially wanted this to be about Africa in general. A place where you can come if you are interested in visiting Africa, doing business in/with African nations, or a place where someone could even come if they were interested in humanitarian efforts in Africa.

However, through the years a valuable lesson has been taught to me-that of not trying to be all things for all people. For this reason, this volume of the journal is dedicated specifically to people wishing to do business in Africa. Alas, there is a place for you if you are not interested in African commerce. Just not here :-). Seriously, I am planning two additional journals to cover our other interests. One delving into African travel and the other to altruism. The complete 3-volume set being referred to as The Benin Epilogues.

With that being said I hope that you find this journal both interesting and useful. Happy blogging!

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Thank you for visiting,
Benin "Mwangi"

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