NEWS & INSIGHTS
Innovation: The Key to the Future of African Cities
by Lauri Elliott
A continuing megatrend for the next generation is urbanization and Africa is no exception. In fact, no country has achieved sustainable economic growth without urbanization, according to the “State of World Cities 2010/2011” by the United Nations. Cape Town represents 14% of South Africa’s GDP and 6.1% of the country’s population while Johannesburg (city proper) represents 15% of South Africa’s GDP and 6.3% of the country’s population, according to the report.
In some countries like South Korea, the major urban hub (Seoul) represents over 40% of the country’s GDP. Seoul claims 48.6% of South Korea’s GDP and Brussels claims 44% of Belgium’s GDP. On a global scale, the top 100 cities by population account for 25% of the world’s GDP.
As of 2010, Africa had 47 cities with more than a million inhabitants, accounting for 31.6% of total urban population in Africa according to the UN report. The three largest cities on the continent in 2010 were Cairo (about 11 million), Lagos (10.5 million), and Kinshasa (8.7 million).
Cities are places where we work and live and in the current context are extremely important to economic and social development in countries. A key of objective of the Gauteng Global City Region (GCR) in South Africa is to create an inclusive region, socially and economically. But as the current challenges faced attest, this is not necessarily an easy task….To read the entire article, go to http://www.afribiz.net/content/innovation-the-key-to-the-future-of-african-cities
Culture and Language: Factors in the Ease of Doing Business in Africa
by Hartmut Sieper
It is worth to note that western countries are not ranking higher than their African counterparts in all disciplines. For example, paying taxes in Germany is very difficult, as the German tax law is the most complicated in the world. Protection of investors in most English speaking countries is far better than in Germany, Austria, and Switzerland.
It is not surprising that high-ranking countries are doing much better in the global market than those countries where entrepreneurs and companies are confronted with bureaucratic systems, high transaction costs, trading barriers, and immature legal systems.
The good news is that many African nations have realized that they had to improve their competitiveness if they want to excel in the global context. The countries of Mauritius and Rwanda belonged to the top reformers of the world. Mauritius is ranking 20 in the world, followed by South Africa (rank 34), Botswana (rank 52), Tunisia (rank 55), Rwanda (rank 58), and Ghana (rank 67). On the lowest end of the list, there are the countries of Eritrea, Guinea, Central African Republic, and Chad….To read the entire article, go to http://www.afribiz.net/content/cultural-and-language-factor-in-ease-of-doing-business-in-africa.
BRICS Economic Engagement in Africa 2011
This year the topic for the African Economic Outlook 2011 (www.africaneconomicoutlook.org) by the African Development Bank is “Emerging Economic Partnerships in Africa.” Join us as we discuss key insights from this report and others on Afribiz.fm (www.blogtalkradio.com/afribiz) on Monday, July 18, 2011.
UPCOMING EVENTS
1st Annual Africa Fund & Capital Conference: July 21-22, 2011, Nairobi, Kenya
The timely 1st Annual Africa Funds & Capital Conference (AFCMC 2011), to be held in Nairobi Kenya on the 19th -20th July 2011 will bring together regional & international fund managers, investors, asset managers, senior regulatory representatives, legal specialists, and industry scholars for discussions and debates that will act as launching pad for much needed innovative products that will shape the feature industry growth trajectory. For further information, go to http://www.afribiz.info/content/1st-annual-africa-funds-capital-conference-july-19-20-2011-nairobi-kenya.
Risk Intelligence 2011: July 21-22, Johannesburg, South Africa
The risk management field has grown exponentially in Southern Africa and has in fact been given new weight within organizations. The title of the risk manager has become increasingly essential in the corporation and with this, progressively more taxing on the individuals in this function. Risk encompasses departments throughout the entire company and the risk management department need to keep their fingers on the pulse of everything in the company including, but limited to; IT risks, financial risks as well as safety and physical risks. This high-level and increasingly demanding task needs to be performed with expert meticulousness and diligence while observing and complying with relevant regulations and legislations surrounding risk management and corporate governance. For further information, go to http://www.afribiz.info/content/risk-intelligence-2011-july-21-22-johannesburg-south-africa.
Retail Banking Africa 2011: July 26-27, Johannesburg, South Africa
On July 26-27, 2011, Fleming Gulf is back with the “Retail Banking Africa 2011” in Johannesburg – South Africa. This two-day conference, and a post-conference workshop, is a strategic business meeting, which will bring over 100 senior retail bankers to discover new business opportunities and innovations in Africa’s retail banking sector. For further information, go to http://www.afribiz.info/content/retail-banking-africa-2011-july-26-27-johannesburg-south-africa.
3rd Annual in Telecoms – Customer Loyalty & Retention Conference 2011: July 26-27, Johannesburg, South Africa
Developing loyalty is one of the major challenges faced by Telecom operators in Africa. Uncover the best practices for customer loyalty management and how to maximise the use of technology to create customer value. For further information, go to http://www.afribiz.info/content/3rd-annual-telecoms-in-africa-customer-loyalty-retention-conference-2011-july-26-27-johannesburg-south-africa.
Liquidity Risk Management 2011: July 27-28, Johannesburg, South Africa
Marcus Evans will be hosting its Liquidity Risk Management on the July 27-28, 2011 at the Crowne Plaza, The Rosebank Hotel Johannesburg. This intense two-day workshop focuses on innovations associated with the implementation of Basel III. A comprehensive view will be given of all the tools and techniques needed by key industry players to retain a competitive advantage within the financial sector. For further information, go to http://www.marcusevans.com/marcusevans-conferences-event-details.asp?EventID=17924&SectorID=2.
IFRS 2011: August 11-12, Johannesburg, South Africa
This training aims to review the IFRS 2010 and 2011 updates and its implementation thereof. Through in-depth analysis, this training will solve practical exercises relating to taxes to improve your technical skills of IAS 12 and other implicated standards. For further information, go to http://www.afribiz.info/content/ifrs-2011-august-11-12-johannesburg-south-africa.
SPECIAL OFFERS
Redefining Business in the New Africa and Grow Rich in the New Africa Book Bundle – 2 for the Price of 1!
The New Africa book series is well on its way to being a useful and favorite collection of books sharing a fresh perspective on doing business and investing in Africa for entrepreneurs, non-institutional investors, and SMMEs. The books offer both strategy and practical insights for readers. Redefining Business in the New Africa is already available while the Grow Rich in the New Africa will be available in September 2011. If you purchase Redefining Business in the New Africa now as part of the bundle, you will get a copy of Grow Rich in the New Africa when it is released. This bundle includes free shipping within the continental United States! Get both books for only $24.95. To get this bundle special, click here.
For more information about each book,visit www.redefining-business-in-the-new-africa.com and www.grow-rich-in-the-new-africa.com.
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