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Business Day6 August 2020 In 2005, former Shoprite CEO Whitey Basson said he was not expecting any competition in Nigeria any time soon, after it took him several years to get the first store up and running in Lagos. And he was right. The first real competition emerged a few years later. The tough battle to establish a retail presence in one of Africa’s most challenging markets set the tone for Shoprite’s 15-year journey in Nigeria. The business environment has never been easy, but Shoprite adapted and made good money for a long time despite the challenges. Basson had a…
The African Continental Free Trade Area: Does it have a fighting chance given the raft of challenges that continue to hamper intra-African trade? Dianna Games is Chief Executive of Africa @ Work. This is an extract from the paper ‘The African Continental Free Trade Area: A Pipe Dream or Silver Bullet?’ published by The Brenthurst Foundation. In May 2021, the Kazungula Bridge across the Zambezi River linking Botswana and Zambia was opened by the presidents of the two countries. The construction of the bridge, which replaces the longstanding, slow ferry service across the river, means trucks on regional routes can…
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The face of Nigerian business is starting to change as the country’s young tech-savvy entrepreneurs launch successful fundraisings attracting global investment. Fintech payments company Flutterwave, just five years old, was valued at over $1bn in March after capital-raising netted $170m from investors, including Tiger Global Management, the US hedge fund and investment firm. The fundraising brings the total investment in Flutterwave to $225m. The new valuation has led to Flutterwave’s designation as a “unicorn” – a privately held startup company valued at $1bn, and the second unicorn to come out of Nigeria. The firm serves more than 290,000 businesses including…
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Nigeria has multibillion dollar plans to address its entrenched infrastructure deficit, with megaprojects across the country in various stages of development seeing a new influx of capital. Rail, road and airport projects stretching across Nigeria are either well advanced, recently signed off or just breaking ground in the wake of an infrastructure drive by the administration of President Muhammadu Buhari. The government is not only focusing on new infrastructure but on the rehabilitation of existing assets and the completion of longstanding projects that have failed to gain traction under previous governments, including the infamous 3,050 MW Mambilla hydropower project, stalled…
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Africa cannot afford to be left behind in the global transition to renewable energy, but many challenges lie in its way, says Dianna Games As efforts to combat climate change gather momentum, the developed world is in high gear about how to cool global warming. But as the pressure mounts for regions, countries and companies to meet the Paris Agreement targets on eliminating carbon emissions, where does Africa stand? Are we getting left behind in an ever-widening “energy divide”? The International Energy Agency reminds us that while Africa is home to 17% of the world’s population, it accounts for only…
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As Shoprite announces its probable withdrawal from Nigeria, Dianna Games examines the rise and fall of South African retail expansion across the continent and what it tells us about Africa’s wider investment climate The retail sector in Africa has been one of the big success stories of the past decade, driven initially by a consumer boom in a handful of high-growth economies, demographics and a growing middle class. South African retailers and developers have ridden this wave, but in recent years some have encountered difficulties that reflect wider problems in the African investment environment. The beginning of Africa’s consumer boom…
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SA and Nigeria are open for business, President Cyril Ramaphosa said at the business forum that took place on the sidelines of the state visit by his counterpart Muhammadu Buhari last week. This remark, platitudinous under most circumstances, had resonance at the event last week in Gauteng, given the hostility and condemnation of SA in the lead-up to Buhari’s visit, after the recent attacks on Africans from other countries, including Nigeria, by some South Africans. As Ramaphosa said in his new weekly newsletter, some people had expected the visit to be “tense and difficult” after the attacks. But, he said,…
African Business Magazine – Joining the African Continental Free Trade Area may be Nigeria’s first step towards realising the potential of its business sector as a force in Africa, argues Dianna Games. When Nigeria failed to occupy a seat at the African Continental Free Trade Area (CFTA) launch in Kigali last year, many asked why a country that has long considered itself a leader in African affairs would not be grabbing the mantle of leadership in a project of this scope and importance. After all, the country has some form when it comes to regional integration, having been a leader…
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Asia GlobalOnline – The rapid expansion of China-Africa economic ties led to questions about a new colonialist dependency. While concerns about debt and oversight persist, the relationship has evolved. Johannesburg-based African business expert Dianna Games argues that it is up to African countries to build the capacity to deal effectively with Beijing. There is no narrative about Africa in this century that has not included a discourse about China. The Asian giant has played a critical role in African development over the past 20 years, creating a new dynamic in both state and private sector-led growth. Although China and the…
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African Business Magazine – Low wages are Ethiopia’s main drawcard in attracting international investment for its manufacturing industry. Dianna Games examines the dilemma many African countries face in deciding whether to prioritise creating jobs or promoting higher wages. Even as much of the world moves into high-tech mode, old-fashioned industrialisation is still an aspiration for most African countries. Increasingly, the big differentiator is cheap labour. As wage packages rise in low-cost manufacturing destinations in Asia and elsewhere, international investors are looking for new countries where they can produce competitively for global markets. One of the nations that has put its…
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African Business Magazine – Revenue generation is an ongoing headache for African governments, but attempts to plug holes in the fiscus often amount to ad hoc measures that have unintended consequences. Tax is a crucial revenue stream that governments must battle to get right. Many African countries have a small tax base because of the informal nature of their economies. But rather than putting in place sustainable, broad-based systems that deliver predictable revenues, governments often resort to ad hoc taxes on specific goods and services or disproportionately burden multinational companies. A 2018 report from the International Monetary Fund (IMF) argued…
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December 11, 2018
Egypt's dynamic reforms propel it to Africa's top investment destination
Dianna Games
Business Day (SA) As Egypt storms ahead with its ambitious and bold economic reform programme, it is attracting considerable investor interest. Africa’s third-largest economy and, with 95-million people it is most populated after Nigeria and Ethiopia, Egypt is a compelling consumer play. Some of the world’s biggest multinational companies have deep roots there and plan to invest heavily in new products and manufacturing capacity in the next few years. Mega projects in infrastructure, urban development and other sectors are driving new investment, both domestic and foreign. The government is targeting $10bn of investment in its fast-growing energy sector alone. This…
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September 19, 2018
Nigeria’s hounding of businesses risks making it off-limits to investors
Dianna Games
BUSINESS DAY (SA) - The Nigerian president’s attack on international financial institution HSBC at the weekend has put his country’s investment risk scenario in the spotlight yet again — and raised questions about what his government hopes to gain from its assault on the private sector in recent weeks. HSBC is paying the price for questioning President Muhammadu Buhari’s fitness for a second term, in a recent article. The response was swift and brutal. The presidency accused the company of being a conduit for more than $100m allegedly stolen by former military ruler Sani Abacha in the 1990s. Buhari set…
September 19, 2018
Nigeria’s hounding of businesses risks making it off-limits to investors
Dianna Games
BUSINESS DAY - The Nigerian president’s attack on international financial institution HSBC at the weekend has put his country’s investment risk scenario in the spotlight yet again — and raised questions about what his government hopes to gain from its assault on the private sector in recent weeks. HSBC is paying the price for questioning President Muhammadu Buhari’s fitness for a second term, in a recent article. The response was swift and brutal. The presidency accused the company of being a conduit for more than $100m allegedly stolen by former military ruler Sani Abacha in the 1990s. Buhari set his…
June 22, 2018
Steady success of Ethiopian Airlines has lessons for SA’s croaking carrier
Dianna Games
Business Day - June 2018 Ethiopian Airlines is not breaking new ground in its strategy to become the African carrier of choice. South African Airways (SAA) has been there before. The big Africa push began in the late 1990s when SAA started spending lavishly to replace old aircraft and stepped up capacity and routes to African destinations. It even sold off a stake in the airline to Swissair, to give it access to Swissair’s then-extensive network within Africa and Europe. The take-off, however, did not go according to plan. For example, there were massive hedging contract losses in 2002-03 and…
June 22, 2018
Election-rigging machinery is still in place as Zimbabwe prepares to vote
Dianna Games
Business Day - May 2018 From a crusading hero feted on the streets of Harare just over six months ago, Zimbabwe’s President Emmerson Mnangagwa is now becoming known as a man of excuses. His early promises to improve peoples’ lives have not materialised. Boastful announcements about $11bn in investment pledges have been questioned by the trade unions and others while striking nurses, who have worked in deplorable conditions for years, were fired for standing up to government. Cash-strapped businesses are still shedding jobs as the debilitating liquidity crisis and acute foreign currency shortages from the era of former president Robert…
June 22, 2018
African trade is crippled for a reason and fine words will not change that
Dianna Games
Business Day - April 2018 As the ink was drying on the African Continental Free Trade Area (AfCFTA) agreement signed in Rwanda a few weeks ago, a crisis was developing at Kasumbalesa border post, between the Democratic Republic of Congo and Zambia. Delays in transit clearance procedures at crossing had resulted in a 70km queue of trucks on the Congolese side of the border, mostly laden with mineral exports destined for vessels to the south. Common Market for Eastern and Southern Africa (Comesa) officials intervened to sort out the mess, blaming the situation on the failure of the two countries…
Business Day - 2 March 2018 Former president Jacob Zuma was seen by many in Africa as a great leveller. This was not because of any attempt to address inequality among his people but because he aligned SA to the broader African experience of governance. His behaviour, together with that of his ministers and friends, removed any sense that SA is exceptional in Africa, a perception that used to be held by many in the international community but also by South Africans themselves. Zuma can take responsibility for finally putting that issue to rest. As SA’s media uncovered the…
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South Africa’s Economic Engagement in Sub-Saharan Africa: Drivers, Constraints and Future Prospects
Dianna Games
REPORT: South Africa’s Economic Engagement in Sub-Saharan Africa: Drivers, Constraints and Future ProspectsDianna Games Chatham House, November 2017
The value destruction which Zuma and his supporters have brought is familiar to millions across the continent, writes Dianna Games BUSINESS DAY - A Nigerian economist said recently that his country was better prepared for crisis than success. Managing dysfunction and expecting the worst has become the new normal, he added. His comments highlight the country’s response to decades’ poor leadership, weak institutions and the emergence of a culture of impunity, forged by political neglect and vested interests. The situation into which SA has been plunged by President Jacob Zuma, his supporters and "handlers", coupled with the attendant destruction of…
Business Day (SA) - China’s deals in Africa are negotiated in such a way as to create new frontiers for Chinese labour, capital, materials and contract fees. But the opposite is true in Africa
Business Day (South Africa) - 31 July 2017: As Zimbabweans brace themselves for the prospect of their 93-year-old president being re-elected in 2018, Nigeria is pushing for younger people to be eligible for political office. The voting age in Nigeria is 18, but to be president or a governor in one of the country’s 36 states, citizens need to be at least 40 years old — and 35 to be a senator. Last week, the Nigerian Senate and House of Representatives passed the #NotTooYoungToRun Bill, which includes provisions to allow young people to run for president from the age of…
BUSINESS DAY (SA) Dianna Games - East Africa’s largest supermarket chain, Nakumatt, has long epitomised an "Africa rising" success story, with its rapid growth from a small family-owned company to a retail behemoth in a region many analysts described a few years ago as a new frontier for consumer growth.
Business Day - 3 June 2017 Mining frameworks and regulations are always contested terrain, mostly between the multinational companies that dig up the riches and the governments that host them. In Africa, the issue of how to manage resource endowments among stakeholders is even more emotional, and urgent, because of the poverty of mineral-rich countries.
Business Day newspaper (SA) - 22 May 2017 Many a noble sentiment was expressed at an event in Abuja last week to celebrate the 10th anniversary of Nigeria’s home-grown infrastructure fund, the African Finance Corporation. Key among them was the need for African self-sufficiency in unpredictable times and for visionary leadership to unlock the potential of institutions that will help to build confidence in and support for African initiatives. The corporation has an interesting background, one often little known in the south of the continent, where we are focused on our own large development finance organisations. The corporation was the…
Business Day (South Africa) Dianna Games It’s tough being an entrepreneur in Africa. There is a lot of talk about the importance of entrepreneurs on a continent where formal employment opportunities are scarce yet where largely untapped dynamism abounds. There is also no shortage of talk about the need for support structures for individuals and micro, small and medium enterprises (SMMEs). But the success of these so-called solutions has been patchy.
Dianna Games - Business Day Zimbabweans make it look easy to live in a dysfunctional state. Harare’s supermarkets are full, the streets are busy and informal traders have proliferated along the sidewalks in recent years as formal employment has shrunk. The roads, empty during the dark days of hyperinflation, are bustling with cars. It is easy to get caught up from afar in the bad news; to assume Zimbabwe is about to implode at any time. But people have got used to hardship and are even making good money out of politically driven dysfunction. One of the key drivers…
Dianna Games - Business Day Zimbabweans make it look easy to live in a dysfunctional state. Harare’s supermarkets are full, the streets are busy and informal traders have proliferated along the sidewalks in recent years as formal employment has shrunk. The roads, empty during the dark days of hyperinflation, are bustling with cars. It is easy to get caught up from afar in the bad news; to assume Zimbabwe is about to implode at any time. But people have got used to hardship and are even making good money out of politically driven dysfunction. One of the key drivers…
’The cash-strapped Nigerian government’s latest corruption-fighting campaign has led to the recovery of more than $150m in looted funds in just a few months’
’The cash-strapped Nigerian government’s latest corruption-fighting campaign has led to the recovery of more than $150m in looted funds in just a few months’
With the focus in SA increasingly inward due to the political shenanigans and concerns about the domestic economy, it is easy to forget about the rest of the continent, with which the country is inextricably linked. The reality of SA’s interconnectedness with sub-Saharan Africa hit home with the recent attacks on Africans and foreigners from other regions. But many South Africans, including government officials, mostly do not realise the extent of this country’s dependence on the rest of Africa for its own economic growth. The perception is not helped by the mainstream media, which appear to have limited interest in…
The unexpectedly high spend on mobile phones in Africa in the past few decades surprised many Africa analysts who had largely written off the spending power of the poorest in society, preferring to focus their efforts on a rising middle class. This expenditure highlighted the fact that people will find money, however little, to spend on goods and services they really want and need.
A lack of proper enforcement and a culture of corruption at borders enables smugglers to sink Nigeria’s promising car hub dream, writes Dianna Games Nigeria’s car industry is a good illustration of the embedded dysfunction of the country’s economy. Policy interventions and incentives to date have not been sufficient for the sector to realise its potential. Despite some progress, the initiative has been undermined not only by the economic slump, but also by other problems that have dogged industrialisation for years, including smuggling across the country’s porous land borders. The automotive sector was targeted by former president Goodluck Jonathan to…
CHAPTER: 'Sasol's Changing Landscape in and with Mozambique', Chapter in Africa to Africa Internationalization: Key Issues and Outcomes Dianna Games and Lyal White (Palgrave MacMillan 2016)
Zimbabweans are sceptical, fearing they will again be left with worthless paper in place of real money, writes Dianna Games. Resistance to Zimbabwe’s new "currency" has not disappeared nearly two months after bond notes were introduced amid widespread protests by citizens who feared the notes were a step back into the past. The Reserve Bank of Zimbabwe is feeding the quasi-currency into the system in tranches. In the first phase, the equivalent of just under $80m is being circulated. But a lack of trust persists. After all, the exercise is being presided over by the same government that took…
Tanzanian President John Magufuli’s tax overhaul may endanger investment, writes Dianna Games. The growing tax and compliance burden in Africa — the result of a new push for growth and a desperation to fill dwindling coffers — may come at the cost of long-term growth if not handled carefully. Last week, Reuters reported that a tough new tax regime put in place by Tanzania’s President John Magufuli had led a number of large investors to reconsider their investments in that country. Some, the report said, were looking at scaling back their operations or expansion plans, with at least…
Billions of dollars earmarked for African assets often fail to find a home, WRITES DIANNA GAMES. Among the many challenges Africa faces is hype. Global advisers, consultants, investment bankers, asset managers and others with a vested interest in getting international capital to Africa, one way or another, sold us the "Africa rising" story. The strategy succeeded. Billions of dollars flowed in, Africa-specific investment funds mushroomed and international private equity giants rushed to secure lucrative assets on the continent. Valuations of blue-chip local companies jumped as funds competed for their attention. But the hype did not always live up…
The Made in Nigeria campaign to push import substitution is the country’s response to the painful period of recession and foreign exchange shortages it is experiencing as a result of low oil prices and its failure to diversify its revenue stream away from oil, WRITES DIANNA GAMES. But it is nothing new. Previous administrations have touted this concept and there have been a few successes, but many failures. Governments have paid lip service to the concept, allowing Nigeria to become one of the most difficult and costly countries in which to do business in the world. They have failed…
ALIKO Dangote, Africa’s richest man, is fond of banging the visa drum. He uses many public platforms to urge leaders to make it easier for Africans to travel around their own continent. Last week was no exception. Dangote, in a television interview in Nigeria with CNBC, said he needed 38 visas to travel across Africa. And it was not always straightforward to get them, he said. "You go to a country that is looking for investment, that particular country will give you a runaround just to get a visa," he said. "You have to know somebody who is…
AS ZAMBIA elects its seventh president, Zimbabweans remain burdened by the one president the country has ever known, commentators on social media pointed out last week as Zambians went to the polls. Comparing the two countries is nothing new. Since the days when they were both part of a federation, there has been rivalry, from the state of their economies, which have swung from prosperity to poverty, to who has the best views of the Victoria Falls, on their joint border, WRITES DIANNA GAMES. Zimbabwe is experiencing its worst economic crisis in a decade, while Zambia has been in…
AFRICA is SA’s to lose when it comes to trade and investment, Africans in other parts of the continent often say, referring to the relative sophistication of the country’s business environment, the number of multinational companies based here and its range of manufactured and value-added exports, WRITES DIANNA GAMES. This is a profile that is enjoyed by no other African country — even though others are rapidly building competitive advantage. Although SA has, over the years, built an investment, trade and political profile in the rest of Africa, it has not gained the kind of traction it could have…
NEWS about the recent conviction of former Chadian dictator Hissène Habré for substantial human rights abuses had us stepping back in time for a moment into a different Africa, WRITES DIANNA GAMES. Recent conversations at events around the continent have been very much focused on issues such as the digital revolution and, inevitably, "leapfrogging" challenges with technology, entrepreneurship and economic self-sufficiency. Habré, the leader of Chad from 1982 until he was deposed in 1990, took one of Africa’s poorest countries and not only impoverished it further, but killed an estimated 40,000 people in a reign of terror. It is…
MISTRUST between the private sector and governments in Africa is one of the biggest impediments to the delivery of infrastructure, the CEO of a South African multinational company says, WRITES DIANNA GAMES. This issue has dogged African development for many years — suspicion and even animosity between the two "sides", whose strategic collaboration is critical to delivering better lives for Africans. At various pan-African events I have attended in the past few weeks, the private sector, when mentioned at all, has been characterised largely as "the enemy". Talk about development in organisations such as the African Union and…
THE recent "tuna fleet" scandal in Mozambique raises questions about whether another African success story might be heading for choppy waters, WRITES DIANNA GAMES. The country is facing censure over evidence that the government may be using a big chunk of $850m raised on international capital markets three years ago to buy arms and not the large fleet of fishing boats the money was earmarked for. Earlier this month, the International Monetary Fund (IMF) cancelled the second tranche of a $285m emergency loan it had granted at the end of last year and cancelled an IMF mission to the…
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THERE is no evidence to prove bilateral investment treaties signed by African countries have made them more attractive to foreign direct investment, despite it being the main reason to sign them, WRITES DIANNA GAMES. The private sector tends to be the main beneficiary of treaties, with governments weakened by a lack of negotiating capacity. These are among the findings of an Economic Commission for Africa report looking at issues about, and the consequences of, investment policies and bilateral investment treaties. The report was launched at the African Development Week in Addis Ababa. The decision to do the research was…
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PRESIDENT Jacob Zuma undertook a state visit to Nigeria last week – a country he knows very well. But the Nigeria that President Jacob Zuma encountered on his short state visit last week is a totally different country to the one that hosted him in the 1970s as an exiled African National Congress (ANC) operative, WRITES SAM MKOKELI A few incidents in recent years revealed a deepening gulf between SA and Africa’s largest economy, but Nigeria rolled out the red carpet for Zuma as Africa’s superpowers try to revive their diplomatic and economic ties. The tension would have been…
THE question doing the rounds in Zimbabwe is how President Robert Mugabe did not know his government had been robbed of billions of dollars in diamond revenues by mining companies even though it had a 50% stake in all of the six mining ventures, WRITES DIANNA GAMES. Questions are also being raised about how he did not know about the apparent looting of the country’s resources when his own military and highly placed officials were among those allegedly profiting from the diamonds being mined at the lucrative Chiadzwa diamond fields. Mugabe said this month that despite presumed revenues of…
THE tourist town of Sharm el-Sheikh in Egypt is battling to keep the doors of its hotels and restaurants open. The millions of tourists who normally patronise this picturesque town, which sits between the Red Sea and the Sinai Desert, have dwindled to a trickle after the crash of a Russian airliner with 224 people on board shortly after take-off from this popular holiday resort in October, WRITES DIANNA GAMES. Not only are jobs and businesses at stake, the plunge in tourist dollars has exacerbated a serious foreign currency crisis. Tourism contributes about 13% to Egypt’s gross domestic product,…
ONE of the most significant changes in the business landscape over the past decade has been the growth of African companies north of the Limpopo, WRITES DIANNA GAMES. Although the growth of South African companies and their activities in other African markets get a lot of attention, they are increasingly competing with home-grown companies in their chosen markets. These companies are developing regional and continental strategies in competition with South African, Asian and Western multinationals. The rapid growth of the private sector in key African economies is the cumulative result of an era of market-driven economies and business reform…
THE inaugural flight by South African Airways (SAA) last week from Johannesburg to Abuja, the capital of Nigeria, was a milestone in the relationship between the two powerhouses of Africa, WRITES DIANNA GAMES. The launch of the route is not just about moving people between two strategic cities; it is symbolic of a greater connectedness between Africa’s two biggest economies that is long overdue. The launch of the route between Johannesburg and Abuja came 19 years after SAA began flights to the commercial hub of Nigeria, Lagos, in 1998 — a route that became one of the fastest growing…
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A SOBERING snippet of information for Africa watchers appeared last week: the continent’s exports to China fell 38% to $67bn last year, and foreign direct investment into Africa fell 40% in the first six months. It was also reported that Africa’s imports from China rose 3.6% to $102bn — bad news for African producers, WRITES DIANNA GAMES. African leaders who clustered around President Xi Jinping and his team in Johannesburg at the China-Africa summit with outstretched hands late last year were not disappointed, with promises of $60bn in aid and loans. But this sizeable, although not altruistic, promise is not…
"EBOLA was like a war in our countries," Guinea’s President Alpha Condé told the World Bank last year as he outlined the havoc that had been wrought by the rapid spread of the virus in the West African country. At a meeting last April to seek funds for reconstruction, he was joined by the presidents of the other two worst-affected nations — Liberia and Sierra Leone. The leaders, who had been battling the spread of the virus for more than a year by then, outlined the devastating effect the health crisis had on their countries, WRITES DIANNA GAMES.…
Hold on to your hats – next year will be a rocky ride for Africa WRITES DIANNA GAMES CHINA’S promise last week to deepen partnerships with African countries and provide $60bn over three years to address constraints to development, was good news for a continent facing many headwinds as it rushes headlong into 2016. Ironically, China’s slowdown is one of those headwinds. But there are many other issues that will make next year a difficult one for sub-Saharan Africa. The continent’s petro-states have slashed budgets and put infrastructure projects on hold as budgets dry up, but they continue to…
THE continent’s stock exchanges are a hard sell to African companies. Of more than 1.5-million businesses registered in Africa, only 1,600 are listed on the stock exchanges of the 23 states that make up the African Securities Exchanges Association (Asea), WRITES DIANNA GAMES. At last week’s Asea conference in Johannesburg, delegates took a hard look at what Africa’s exchanges need to do differently to boost performance and relevance to attract investors and build assets. Asea president and head of the Nigerian Stock Exchange Oscar Onyema suggested that new ways of engaging business leaders were needed, not just to talk…
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REFLECTIONS on the history of Africa’s two biggest economies dominated the SA-Nigeria Chamber of Commerce’s (SA-NCC) 10th-anniversary dinner in Johannesburg last week, BY DIANNA GAMES. George Nene, a former South African ambassador to Nigeria, told guests of how his six-year sojourn in exile during apartheid was transformed into an ambassadorship when he was asked by former president Nelson Mandela to open SA’s first embassy in Nigeria in 1994. Nene facilitated the long corporate trek to Lagos by companies such as South African Airways, MultiChoice and MTN. The early relationship was dynamic. In 1999, the SA-Nigeria Binational Commission was formed…
THE strains of former president Thabo Mbeki’s "I am an African" speech introduced the Brand Africa awards ceremony in Sandton last week, writes DIANNA GAMES. The event was a celebration of Africa’s own initiatives, culture and excellence, but the results of a cellphone survey of 6,000 African consumers across the continent released that very night showed that consumers still prefer foreign brands by a wide margin. Of the top 100 brands chosen by respondents as being either their most admired or most valued, just 23 were African. Admittedly, MTN did top the 2015 Top 100 list, toppling Coca-Cola…
A QUESTION Nigerians often raise in discussions about SA and its West African counterpart is why there are not more Nigerian companies investing here, writes DIANNA GAMES. Where are the Nigerian banks, the food franchises, the supermarkets and IT companies? they ask. The diplomats are particularly exercised by the trade and investment imbalance. This, they say, reflects badly on the bilateral relationship. It is true that there are few Nigerian investments here more than 20 years after SA opened its doors to the rest of the continent. Dangote Cement has acquired a cement operation, and oil and gas company…
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THE words "brave new world" have an optimistic, inspirational ring to them. But of course they are best known as the title of Aldous Huxley’s 1930s novel, which foretold a dystopian future. The phrase was first used by William Shakespeare in The Tempest, where it also carried heavy irony, writes DIANNA GAMES. So, Zimbabwean President Robert Mugabe’s description of the United Nations (UN) sustainable development goals (SDGs) as a path to a "brave new world" had literary-minded listeners sensing that this wasn’t the most auspicious send-off for a praiseworthy initiative. For Zimbabwe, under Mr Mugabe’s rule, has been…