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Quick Hits Around the (African) Web

Elie Smith claims that Nigeria is making headway against email scammers:

But above all, while some scam e-mail may still come from Nigeria, most are not. The new sources of those scam-emails are irrefutable substantiations that, Nigeria and the Nigerian government are fighting financial crimes and the country is definitely changed.

Nii Simmonds will be hosting the 4th Carnival of African Enterprising at his blog, the Nubian Cheetah, next week. Submit your best blog posts here.

The Financial Times claims that Angola will be the third hub for Africa, along with the Nigeria and South Africa. (Interesting that Kenya was left out)

The combination of its oil bonanza and a huge investment in infrastructure has led it to become the hot destination for businesses seeking to invest in Africa. “There’s a general feeling that if we are not a player in Angola in the next five years we will have missed the best opportunity in Africa,”

(hat tip Emeka at Africa Unchained)

Steve Mugiri does an excellent interview for AfriGadget on the Sietch:

The primary challenge is of course finding the stories while looking through the blinders of having lived these stories ourselves, For example, I suspect that I would be hard pressed to find someone from my generation, rich or poor, who did not make their own toys while young. This was simply a fact of life. Having lived this all through our childhoods, it thus becomes a little difficult to step outside our experiences and realize that just this fact is a story of itself.

10 Comments

  1. Its a shame Kenya was left out, but I think there is an explanation.

    When Western media speak positivity about the chances of African economic development it is almost ALWAYS linked to natural resources, in particular oil and minerals. It is as if Africa can only develop with the exploitation of these resources. They seem to forget that Africa has growing and dynamic service sector.

    Nations like Kenya get forgotten while those rich in oil and minerals are seen as good bets, even if the rule of law, good governance and a stable democracy are light years away.

    Kenya does not have an abundance of these minerals yet they have one of the best mobile network firms (Safaricom), a successful supermarket chain (Nakumatt) and a premier African investment bank (Dyer and Blair).

    It is not just the good fortune of what lies below the ground but the ingenuity and skill of those above it that will transform the continent.

  2. Perhaps it would be more accurate to say that Jendayi Frazer made that claim, and not FT.
    Quote: “When Jendayi Frazer, the US assistant secretary of state for Africa, visited earlier this year she predicted that in 10 to 15 years Angola would be one of the three hubs in sub-Saharan Africa, along with the traditional powerhouses of South Africa and Nigeria.
    Being that she’s a US govt official, such cluelessness is excusable.

    Kenya made ranking above Angola, at least in Standard Bank’s portfolio:
    Outside South Africa “you’ve got to be in Nigeria, Ghana, Kenya and Angola”, says Craig Bond, CEO of Standard Bank Africa.
    I just wonder if his list is in rank order…

  3. @ JohnN easy on the patriotism – ati dyer and blair premier african investment bank, but on the real angola as money coming out its ass. – angola is not going to be a hub but zlot of people will make money off angola

  4. @ Joe – Yes, there was some fervour in my tone.

    Its interesting thought, that you never hear of the service sector. A good example is….

    Celtel – The first mobile phone operator company in the WORLD not to have roaming charges for using your mobile abroad (in 15 African countries).

    Its not just oil and minerals!

  5. I haven’t been to Angola, but from what I understand it lacks some pretty basic infrastructural elements necessary to becoming a true economic “hub” in Africa.

    @E-Nyce – thanks for the correction. Kenya is mentioned later, and South Africa is left out of that quote. Interesting journalism. Anyway, it looks like they’re saying that Ghana, Nigeria, Kenya and South Africa are the major players – with Angola as a possible up and comer.

  6. Don’t forget Zambia – slowly but surely the right pieces are falling in place for some very positive changes to happen.

  7. According to Wikipedia as of 2005 the GDP in both Kenya and Angola was in the 48 and 43 billion respectively. With new oil discoveries happening in Angola its safe to say that the article is probably right. Angola will be the next destination not Kenya.

  8. If you’re basing your point on GDP statistics, I think you need to take some Economics courses. Again, if you haven’t done so already.

  9. Oil vs Services u dont need an economics degree to figure that out a little bit of common sense will do

  10. For the last 3 years Angola has maintained a 15 – 30 % growth in GDP with a trade surplus of over $20billion and only just became a member of OPEC recently making Angola the fastest growing Economy in Africa and remember this is all oil money.
    Angola has a 10th of Nigerian population and produces almost an equal amount of Oil (around 2 million barrels of oil considering Niger Delta problems).

    Kenya on the other hand is heavily dependent on Agricultural exports, which become even less so attractive when western agricultural subsidies to western farmers and consumer consciousness of carbon emissions produced in transit are taken into account.

    Standard Bank has operations in Kenya surely you’d expect them to rank it somewhere. However they are scrambling to snap up acquisitions in Angola. When American Banks went looking for China, it was clear that China was the next big thing.

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