He's the 10-year-old founder and CEO of Mr. Cory's Cookies, and he hopes to conquer the world before graduating high school. Michelle Miller introduces you to the mini mogul who's taking the culinary and fashion world by storm. Video
Consumers with greater choices are also likely to change their shopping venue from traditional markets to retailers. The current rapid development of retail markets in Africa is in response to a bigger market with increased buying power. Although the transformation in the retail sector is happening rapidly, currently 90% of all food sold in Africa is still bought in traditional markets. The question arises whether the robust development of the retail sector will make the traditional African market obsolete. Projections have shown that this is not likely to be the case but that the prevalence of traditional markets will decrease from the currently handling 90% of food sold to around 65%. Download
Supermarket development in Africa is in its very early stages, and there is controversy about how quickly they will spread. The story of the rise in consumption of animal proteins and the decline of starchy staples is well known. However, there is increasing consumption of processed foods in general and highly processed foods in particular, with very high expenditure elasticities, and thus the likelihood of explosive growth in demand for them in coming decades for Africa. The lower strata of the lower class are certainly still spending a large share of their income on food but may also be changing in substantial ways the food that they buy. Given that the food and agricultural sector in developing countries remains such a large portion of national income—Sub-Saharan Africa (SSA) holds 15 of the top 20 countries in terms of agriculture’s share in gross domestic product (GDP), and food takes up about 50 per cent of the average consumer’s expenditure—changes in food consumption driven by an emerging middle class will have important impacts on the structure of these countries’ economies and on the policies and investments that are needed to ensure robust and equitable growth.
....A college degree no longer guarantees a good job. The main reason it pays better than the job of someone without a degree is the latter’s wages are dropping.
In fact, it’s likely that new college graduates will spend some years in jobs for which they’re overqualified...
the demand for well-educated workers in the United States seems to have peaked around 2000 and fallen since. But the supply of well-educated workers has continued to grow...
The starting wages of college graduates have actually dropped since 2000. The starting wage of women grads has dropped 8.1 percent, and for men, 6.7 percent....
I hear it all the time from my former students. The New York Times calls them “Generation Limbo” — well-educated young adults “whose careers are stuck in neutral, coping with dead-end jobs and listless prospects.” A record number are living at home...
The deeper problem is this. While a college education is now a prerequisite for joining the middle class, the middle class is in lousy shape. Its share of the total economic pie continues to shrink, while the share going to the very top continues to grow...More
Speaking to CNBC Africa on the side-lines of the World Bank and IMF annual meetings, Adesina said the region was spending about 45 billion US dollars on food imports annually. “We have a lot of water and we have cheap labour across African economies and what we should be doing is producing our own food so that we become a global powerhouse in food production,” he said. Adesina said the agriculture sector had positive future prospects...More
Deeply Concerned by Escalation of Violence in Libya, Secretary-General Urges All Libyans to ‘Take the Brave Decisions Necessary to Spare Their Country’. The following statement was issued today by the Spokesman for UN Secretary‑General Ban Ki‑moon: The Secretary‑General is deeply concerned by the recent escalation of violence in Libya, including the air strikes in Tripoli and the Nafousa Mountains in the west, as well as in Benghazi and its environs in the east. He calls on all parties to end these attacks and prevent further escalation and reminds them of their moral and legal obligations to protect civilians and abide by international human rights and humanitarian law...More
Investigating the Need for Emerging Oil Palm Agro-Industries in Africa
Some decades ago would have been the best time to create new oil palm plantations and palm oil processing-industries, but the second best time is now due to increasing consumption trends for palm oils and its products and deficiency in worldwide production that leaves consumers with little choices to pay high prices. With the unique properties and usefulness of palm oils for both edible and non-edible uses, investing in the oil palm production is crucial to sustain the upward global demand. To develop supportable agro-industries in Africa is almost indisputable as mega solutions to the World Bank, Washington DC report of July 22, 2013 which unveils “Sub-Saharan Africa is home to nearly half of the world’s usable, uncultivated land, but so far, the continent has not been able to develop these unused tracts, estimated at more than 202 million hectares to dramatically reduce poverty and boost growth, jobs and shared prosperity”... Download & Read More
Regional integration has been a core element of African countries’ development strategies since their independence. The Africa-wide development agenda, as championed by the African Union (AU), is based on regional integration and the formation of an African Economic Community (AEC). This was laid out in the 1980 Lagos Plan of Action for the Economic Development of Africa and the Abuja Treaty of 1991. The Africa regional integration roadmap considers the Regional Economic Communities (RECs) as the building blocks of the AEC.At its 18th Ordinary Session in January 2012 in Addis Ababa, on the theme “Boosting Intra-African Trade,” the Assembly of Heads of State and Government of the AU adopted a decision and a declaration that reflected the strong political commitment of African leaders to accelerate and deepen the continent’s market integration. The Heads of State and Government agreed on a roadmap for establishing a Continental Free Trade Area (CFTA) by the indicative date of 2017...More
At the semi-annual Climate Investment Funds (CIF) governing body meetings in Washington, DC this week, countries unanimously signaled their commitment to the CIF mandate going forward, and opened the door for African low-income countries to move forward with new plans for green energy services, resilience to climate impacts, and better managing crucial forests. Under the Program for Scaling-Up Renewable Energy in Low Income Countries (SREP), countries signaled their strong support for countries in Africa and elsewhere to develop SREP investment plans and associated projects. This would build on the June 2014 SREP agreement to fund nine new African nations to become SREP pilot countries. Under the Pilot Program for Climate Resilience (PPCR), countries agreed to invite a set of new pilot nations, with a number likely to be selected from Africa, to come forward as pilot countries to develop Strategic Programs for Climate Resilience, national policy-based instruments through which the PPCR would support projects to build climate resilience. The countries also agreed to expand the PPCR facility to engage private sector investments aimed at innovative solutions in climate resilience and adaptation...More
Prime Minister David Cameron is not fit to lead Britain, according to a former Whitehall adviser, who appears to have an axe to grind with anyone in government.
Dominic Cummings, who states on his blog that he was Michael Gove's main adviser between 2007 and 2014, told delegates at an event organised by thinktank IPPR that the system which elected Cameron is "dysfunctional".
Cummings' speech branded the PM's inner circle "chaotic", and called his top advisors "totally useless".
Cameron "could not manage his way out of a paper bag," he added.
Cummings said Cameron's qualification in Politics, Philosophy and Economics (PPE) from Oxford was next to useless for running a country...More
Director Joanna Lipper elegantly explores past and present as she tells the remarkable story of Hafsat Abiola, daughter of human rights heroine Kudirat Abiola, and Nigeria's President-elect M.K.O. Abiola, who won a historic vote in 1993 that promised to end years of military dictatorship. Shortly after the election M.K.O. Abiola's victory was annulled and he was arrested. While he was imprisoned, his wife Kudirat took over leadership of the pro-democracy movement, organizing strikes and rallies, winning international attention for the Nigerian struggle against human rights violations perpetrated by the military dictatorship. Because of this work, she too became a target and was assassinated in 1996. In this riveting political thriller, the Abiola family’s intimate story unfolds against the epic backdrop of Nigeria's evolution from independence in 1960 - through the Biafra War, subsequent military dictatorships and the tumultuous transition to civilian rule - through present day as Hafsat continues to face the challenge of transforming a corrupt culture of governance into a democracy capable of serving Nigeria's most marginalized population: women....More
Deportation and exile have long, complex, and intertwined legacies in colonial Africa. From the forced removal of kings, queens, chiefs, and commoners, to the displacement of entire clans from their homelands, or the coerced expatriation of political dissidents and their families, deportation and exile operated as two edges of a single imperial weapon. British, French, German, Portuguese, Belgian, Spanish, Italian, and South African colonial regimes all employed exile and deportation—often coupled with threatened or real forced labor—to end dynasties, to silence rival chieftaincies, to forestall millennial religious movements, and to facilitate the wholesale seizure of agricultural and pastoral lands for industrial enterprises or white settler farmers.
US Treasury Secretary Jack Lew urged Chinese officials on Tuesday to continue reforms toward establishing a market-determined exchange rate, amid growing concerns over the recent depreciation of the Asian economy’s currency. The issue has long been a sore spot between the two countries, with the calls coming just months after Beijing’s pledge that it would be allowing the market to play a greater role in its economy.“It is important that China demonstrate a renewed commitment to move to a more market-determined exchange rate which will help provide for more balanced domestic growth and global trade, while also moving to a more transparent exchange rate policy,” Lew said ahead of his meetings with Chinese Vice Premier Wang Yang, citing the Asian economy’s various bilateral and G-20 commitments in this area...More
The inaugural conference on land policy in Africa opened Tuesday evening at the African Union Headquarters in Ethiopia with a strong call for a robust deepening of land governance on the continent and an appeal for promoting policy and regulatory environments that advance large scale agricultural production and productivity. Organized around the theme: “The next decade of land policy in Africa: Ensuring agricultural development and inclusive growth” the 11-14 November conference is in line with the 2014 African Union year of Agriculture and food security. African Union Commissioner for Rural Economy and Agriculture, Rhoda Tumusiime, emphasized that Agriculture is still a key driver of Africa’s economic transformation, with the prime responsibility of providing employment opportunities for a rapidly growing and predominantly youth population, sustainable livelihoods and poverty reduction...More
Akin Iwilade argues that access to clientelistic networks is central to the ability of youth to engage in violent activities in Nigeria's oil-rich Delta. Even though literature has demonstrated that the contradictions of oil wealth and economic neglect provide the backdrop for conflict in the region, the actual channels through which it becomes possible to activate incentives for violence have not been properly addressed. It also points out that a fixation on the narrative of resistance has undermined our ability to engage with other critical variables such as social codes of masculinity, survival and ‘becoming’ which play very central roles in animating violent networks in the region. Drawing evidence from interview data, the article uses the lived experiences of ‘ex-militants’ to highlight these points as well as to raise questions about the applications of neopatrimonial theory to governance projects in African states...More
We shall never tire of reminding us that the nation has two components: society and the state. The sovereign people are in society. It is the sovereign people that delegate their power to the state, and government’s role is to regulate the activities of society using what is usually banally described as the authority of the state. The relationship between the citizen and the government is usually conflicting because government always seeks to expand its power by encroaching on the freedoms of the sovereign citizen.
Against the background of celebrations about the rise of a middle class in Africa and its widely posited role in promoting democracy, Roger Southall explores the politics of the black middle class in South Africa. He does so by examining three propositions: first, that the black middle class was a positive force in the struggle for liberation and democracy; second, that post-1994 strategies of the African National Congress (ANC) government which have benefited it secure its political alignment with the ANC's ‘party-state’; and third, that its growth and increasing diversity will contribute to the consolidation of democracy. The conclusion drawn is that while the black middle class may indeed play an important role in furthering democracy, its political orientations and behaviour cannot be assumed to be inherently progressive...More
Au-delà des pertes induites estimées à plusieurs milliards pour les économies, les conséquences en termes de pertes matérielles et en vies humaines deviennent monnaie courante sur ces marchés où le matériel électrique contrefait se fait le plus disponible.
Douala, capitale économique du Cameroun. Pas besoin d’être expert pour faire le constat. Le matériel électrique est visible partout, le long des rues, dans des porte-tout, quincailleries, boutiques et magasins, exposé à même le sol ou par des marchands ambulants. La vente du matériel électrique s’est faite pratique courante, au vu et au su de tous. Ici, tout y passe ; ampoules et luminaires, rallonges, douilles, disjoncteurs, fusibles, fils et câbles, interrupteurs et prises, transformateurs, poteaux électriques, groupe électrogène bref, petits matériels comme grands équipements, tout se vend et tout s’achète, et le client se recrute dans toutes les strates de la société. Et pourtant, ce ne sont pas les récriminations qui se font rares de la part des clients et utilisateurs de ces matériels et équipements électriques. Les plaintes et cris de raz le bol se multiplient à longueur de journée ; et pour cause, « ces matériels sont le plus souvent de mauvaises qualité », apprend t – on.
Knowledge and innovation are pivotal in Africa’s quest for sustained and inclusive economic growth and should therefore be encouraged based on both targeted government policies and private sector participation. This was the conclusion from the 9th Annual African Economic Conference held from November 1-3 in Addis Ababa, Ethiopia. The conference, co-organised by the African Development Bank (AfDB), the United Nations Economic Commission for Africa (UNECA) and the United Nations Development Programme (UNDP), provided a forum for discussions among public officials, business leaders and academics under the overarching theme “Knowledge and Innovation for Africa’s Transformation”. “African countries are aware that their development hinges on how fast and how well their citizens acquire the skills and technological competencies needed to be competitive in today’s global market,” said AfDB President Donald Kaberuka at the opening of the three-day meeting. Kaberuka was seconded by the Executive Secretary of UNECA, Carlos Lopes, who affirmed that ”African enterprises can only develop and influence the breadth and depth of industrial linkages if they harness (…) the skills and technologies needed to upgrade production processes, and identify market opportunities.” ... More
The largest free trade area in Africa, known as the Tripartite FTA (TFTA), which would span across the continent’s three main regional economic communities (RECs), is set to launch in mid-December at the Tripartite Summit of Heads of State and Government in Cairo, Egypt. This announcement was made at the end of a two-day meeting of the Tripartite Sectoral Committee of Ministers in Bujumbura, Burundi on 25 October. The TFTA, once enacted, would bring together the East African Community (EAC), the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA). In other words, it would cover 26 countries ranging from Egypt to South Africa with a combined population of 625 million people and an aggregate GDP of US$1 trillion. These figures represent half of the African Union’s membership and 58 percent of the continent’s economic activity, according to COMESA. The TFTA project, also known as the Grand FTA, was originally endorsed at the Tripartite Summit of Heads of State and Government in Johannesburg in June 2011. That endorsement came three years after another tripartite summit in Uganda, where the Heads of State and Government of the respective RECs agreed on a “programme of harmonisation of trading arrangements amongst the three regional economic communities.”...More
John Ngu Foncha is the political leader who led Southern Cameroons to “reunification” with Republic of Cameroun. He achieved the feat following his triumph in the general elections of 1959 over E.M.L. Endeley who was premier of Southern Cameroons. The elections were free and fair, to use the parlance of today, because at that time, only elections on a level playing field were imagined and imaginable!
The Foncha Syndrome is defined by many elements of naivety. Probably because it has had its most visible symbols from Bamenda – Foncha and Fru Ndi – it has come to earn the sobriquet, “My Bamenda.” The syndrome was generated by a misplaced confidence that derived from the openness of politics in Southern Cameroons that made Foncha’s defeat of Endeley possible. The confidence was reflected in a 1961 editorial of The Daily Times Newspaper of Victoria that stated: "We are bringing into this union a great inheritance, viz., Democracy; the English have ... given us a democratic way of thinking…With this inheritance we need not be afraid to meet our brethren across the border for we are not coming empty handed..."
On the margins of the Climate Summit in New York, the Japanese government convened the second roundtable with African Regional Economic Communities (RECs), chaired by Japanese Prime Minister Shinzo Abe, to underline the importance of regional infrastructure as an essential requisite to Africa's growth. Participants included Hailemariam Desalegn, Prime Minister of Ethiopia and Chairman of Intergovernmental Authority on Development (IGAD), John Dramani Mahama, President of Ghana and Chairman of the Economic Community of West African States, Erastus Mwencha, Deputy Chairperson of the African Union Commission, as well as the Chief Executive Officers of the East African Community (EAC) and the Southern African Development Community.
The Board of Governors of the African Development Bank Group (AfDB) through its private sector window has approved a 1 million Euro line of credit (LOC) equivalent in Central African CFA francs (XAF) to Advans Cameroon. Advans Cameroon is a microfinance institution (MFI) started in 2007 in Cameroon with increasing focus on SMEs given the potential market opportunities. Advans Cameroon had 38,000 entrepreneurs and individual borrowers (men and women) as clients as of end-2013. The Fund for African Private Sector Assistance (FAPA) is a multi-donor thematic trust fund that provides grant funding for technical assistance and capacity building to support implementation of the Bank’s Private Sector Development Strategy. The Government of Japan, African Development Bank, the Austrian Development Bank and the Government of Austria are the contributors to the fund, which to date has provided US $42 million to 47 projects across the African continent. The FAPA portfolio includes regional and national projects in sectors such as business enabling environment, financial intermediation, infrastructure, trade and micro, small and medium enterprises.
The Board of Governors of the African Development Bank Group (AfDB) through its private sector window approved on September 18, 2014 in Abidjan, Côte d’Ivoire a EUR 1 million line of credit (LOC) equivalent in Franc CFA to Finadev S.A. Benin. Finadev Benin is a key microfinance and SME-finance institution with an important market share in Benin. It was established in 2001 as a microfinance branch of Financial Bank (currently OraBank) and became an independent MFI in 2009. Finadev Benin’s key shareholder is Finadev Africa Holdings, which in turn was established through an investment by Emerging Capital Partners (ECP). More
Does China's engagement with African agriculture represent Africa's biggest opportunity in history? Africa's management of this engagement will be critical to maximising the opportunities and minimising the challenges that China presents. China has been engaged in African agriculture. The nature of China's engagement is complex. It started as an instrument of diplomacy to counter Taiwan. The government of the People's Republic of China reclaimed its recognition at the United Nations (UN) partly through the votes of African countries. China has a significant presence in trade and national development cooperation on the continent. It has articulated its interest in the framework of the One-China policy, which sets forth the tenet of south-south cooperation based on respect for national sovereignty, national interest, non-intervention and non-imposition of conditionalities. This policy framework emphasises mutuality, trust, partnership and win-win cooperation. In 2012, China became Africa's largest trading partner, with USD 200 billion of trade. China sees its approach in Africa as novel and revolutionary. This approach, informed by China's own experience of national development and transformation, is being presented to African nations as a model...More
“Youths should come out of their comfort zones, be creative and self-enterprising in the way they approach the job market” – Akere-Maimo J. Ano-Ebie
From April 30-May 18, 2012 The US Department of State (DOS) sponsored an International Visitor Leadership project dubbed “Youth African Leaders: Youth Leadership & Civic Engagement” in the USA. The program was administered by the Institute of International Education (IIE) and rallied 16 Young African Leaders from countries of Francophone Africa. Akere-Maimo J. Ano-Ebie who doubles as the Advocacy & Communication Officer of Malaria Consortium-Cameroon Coalition Against Malaria (MC-CCAM) and President-Founder of his brainchild, TalentzAXIS, was selected for this prestigious program through the US Embassy in Cameroon. In an exclusive interview, the one-time Yaoundé Bureau Chief of The EntrepreneurNewsOnline explained how he was selected and participated in this prestigious program. Excerpts:
Africa's democratic transition is back in the spotlight. The concern is no longer the stranglehold of autocrats, but the hijacking of the democratic process by tribal politics.
Kenya's 2007-08 post-election violence revealed the extent to which tribal forces could quickly bring a country to the brink of civil war.
The challenge to democracy in Africa is not the prevalence of ethnic diversity, but the use of identity politics to promote narrow tribal interests. It is tribalism.
There are those who argue that tribalism is a result of arbitrary post-colonial boundaries that force different communities to live within artificial borders.
This argument suggests that every ethnic community should have its own territory, which reinforces ethnic competition...more
Our Country is in Moral Decay, Our Country is in Economic Collapse, Our Country is in Financial Turmoil, and Our Country is in Political Shambles. All Cameroonians must join hands to rescue Cameroon from chaos. Every Cameroonian must ask himself why Our Country is so corrupt. Every Cameroonian must ask himself what he can do to stop corruption in Cameroon. Corruption is now part of our lives and it is no more seen as something horrible. Corruption is a cancer in Our System of life and if we do not stop it, it will spread and kill us. Unless we stop Corruption, we will never build a Cameroon of our dreams. Cameroon has won the corruption trophy twice, as the most corrupt country in the world. If we continue like this, we will certainly win this trophy a third time and keep this infamous world trophy. What a shame and disaster.
Head of State’s message to the Nation on the occasion of the end of year 2012 and the New Year 2013 [FRENCH VERSION]
Fellow Cameroonians, My dear compatriots,
I told you a year ago that the period starting in 2012 would be devoted to the stimulation of growth which, as you are aware, is indispensable for achieving our objectives, that is, improving living conditions and curbing unemployment. This end-of-year message affords me the opportunity to take stock with you of our efforts and to know where we stand and where we are going.
It is heartening to note that investment is recovering. After a long period, during which national and foreign investors were hesitant to commit themselves, due to the crisis, more and more investors are now expressing interest in various sectors of our economy: energy, mining, agriculture, infrastructure, among others. This is clearly a sign of the confidence they have in us so that, together, we can successfully implement some of our major projects.
The first sector I want to mention is that of energy because it is the sine qua non for the development of our economy. In recent months, we launched the construction of several dams and hydro-power plants: Lom Pangar and Memve'ele. In early 2013, we will launch the construction of the Mekin dam. Others will follow, particularly when we will have developed the Sanaga River. The Kribi Gas-fired Power Plant will soon complete this system. Thus, we will increase our electricity generating capacity and put an end to shortages which have penalized our people and industries for a very long time. At the end of this process, we should even be able to export energy to less endowed neighbouring countries. Thus, in the medium term, we will have won the energy "battle".
There’s no money like young money. While African millionaires and billionaires like Onsi Sawiris, Raymond Ackerman, Aliko Dangote and Deinde Fernandez may have more money than most of us can ever dream of, there’s one thing they can never buy: Youth. Even money has its limits. But there are a handful of young Africans in their 20s and 30s who have built businesses and amassed enviable million-dollar fortunes. Call them million-dollar babies. While some are corporate animals; others are empire builders- like Ladi Delano, the restless 30 year-old Nigerian entrepreneur who founded Solid XS, a hugely successful premium Vodka business in China when he was barely 23 years old. He subsequently flipped his vodka company for millions of dollars. Today, he is a co-founder and CEO of Bakrie Delano Africa, a $1 billion investment vehicle committed to making acquisitions in Nigeria’s mining, energy and agriculture sectors. There are thousands of young and immensely successful entrepreneurs across the African continent. There’s a growing number of Africans aged 40 and under who are legitimately amassing multi-million dollar fortunes. They don’t inherit stuff; they build it themselves....More
Nigerian billionaire Aliko Dangote is no longer the richest black person in the world. He’s been ousted by Ethiopian-born Saudi billionaire Sheikh Mohammed Al-Amoudi who is worth an estimated $12.5 billion. That’s $1.3 billion richer than Dangote. American TV mogul Oprah Winfrey remains the only black female billionaire in the world. Of the 1,226 people who made it to the 2012 FORBES list of the world billionaires, only 6 are black....More
The Department of Journalism and Mass Communication (JMC) in the University of Buea, has produced Cameroon’s first Doctoral dissertation in journalism 'west of the Mungo'. This was during a PhD thesis defense which took place on Friday, December 28, 2012 at the Conference Hall of the Faculty of Social and Management Sciences in the University of Buea. The dissertation titled “Redefining Journalism Roles in Democracy: In Search of Evidence from Elections Coverage Using Mobile Phones and Internet in Cameroon,” the candidate, Mr Kingsley Lyonga la Ngange, argued that ICTs, especially the internet and mobile phones have great potential to faciltate democratic growth and development of Cameroon, and also to move society forward if properly used, though they have unintended consequences if used in a way which is not proper.
Oyne billion three hundred million Francs CFA (US$ 2,600,000), has been adopted as the budget for the 2013 financial year by the Buea Council. This was during the Second Ordinary Session of that council which took place Thursday, December 27, 2012 at the Conference Hall of the council. Welcoming participants at the session, the Mayor of Buea, Mr. Charles Mbella Moki Charles used the occasion to reiterate that the mission and vision of the Buea Council is to develop the municipality in its entirety, so as to make the town of Buea a developed and better place for all. "Our goal is to ensure that Buea municipality strives to develop in a way that meets the standards of a modern world,” he quipped.
God is good, especially if you’re a Nigerian pastor with some business savvy. These days, millions of souls, desperate for financial breakthroughs, miracles and healing, all rush to the church for redemption. And while the bible expressly states that salvation is free, at times it comes with a cost: offerings, tithes, gifts to spiritual leaders, and a directive to buy literature and other products created by men of God. Pastors are no longer solely interested in getting people to Heaven; they’ve devised intelligent ways to make good money while reaching out to souls. Take Pastor Chris Oyakhilome, for example. He is the founder and lead pastor of the Christ Embassy, a thriving congregation with branches in Nigeria, South Africa, London, Canada and the United States. His publishing company, Loveworld Publications, publishes ‘Rhapsody of Realities,’ a monthly devotional he co-authors with his wife. It sells over 2 million copies every month at $1 apiece. He also owns television stations, newspapers, magazines, a hotel, a fast-food chain, and more.....
While this may not be an official or an exhaustive list, however, these 20 women, all under age 45, wield enormous influence in African business, technology, policy and media. They are change makers, trendsetters, visionaries and thinkers, builders, and young global leaders. They are at the vanguard of Africa’s imminent socio-economic revolution and its contemporary renaissance....More
The inspiration for the ...name came from the Duala language in the Wouri estuary of Cameroon…..Wasamundi basically means ‘find the world’… In the technology age, this translates to "search for help”.... “In less than two years, we have been able to build a series of products that the world has recognized and is using”…“Our enterprise is currently modestly valued at 250 million FCFA (US$ 500,000), and when we finish our expansion plans into the sub-region of Central Africa it will be valued at 2.5 billion FCFA (US$ 1 million),’’ says Laurence the smiley CEO.
By Stephen Njumbe Sako
Urban planners in Africa are in the mothers-of-all-battles to catch up with the evolution of digital technology. In Cameroon, town planners are breathless catching pace with urban settlers. It is more of an awesome task for technology providers, whether cable television or internet service providers, to circumvent tortuous paths to neighborhoods to reach millions of consumers. Even locating enterprises is an uphill task for consumers wanting particular services. Arriving at hotels, restaurants and homes of friends relies on mundane mouth-to-mouth roadside inquiry. In fact, it was easier for the biblical three wise men to rely on the stars to find the baby Jesus born to the house of David in a manger in Bethlehem. In Cameroon, there is no known directory to get information on the geographical coordinates and location of enterprises in towns and cities.
The fifteenth edition of the Cameroon University Games ended on Saturday May 12, 2012 in Buea with the National Institute of Youth and Sports (INJS) occupying top position in the medal classification table. The four-time champions of the annual sports jamboree finished first this year, grabbing a total of 43 medals, 17 in gold, 15 in silver and 11 in bronze. The University of Yaounde II came second, winning a total 43 medals, 10 in gold, 10 in silver and 23 in bronze; while the University of Dschang occupied the third position accumulating a total of 30 medals of which 9 were in gold, 6 in silver and 15 in bronze. The University of Buea’s unsavoury performance and eigth position left a bitter taste in the mouth its supporters and stakeholders.
The University of Buea is hosting the fifteenth Cameroon University Games, which kicked-off on May 5, 2012. While athletes slugged out their muscles in intensive competition amongst Cameroon’s nineteen universities and colleges of higher learning, proprietors of local businesses have been busy lining their pockets and smiling into local banks to augment their savings. The games village crammed with shops and grocery stalls has witnessed a twenty-four hour carnival atmosphere. Shops in the Molyko neighbourhood of Buea have kept late-night opening hours to cash on the business fair. Some business men and women have been boastful of their returns due to the high demand of their products. The university games are held once a year, rotating amongst competing institutions. The University of Buea have been proud hosts of the 2012 edition of the games. As a mark of its bullish enthusiasm, the university erected a giant size sculpted elephant on its campus to serve not only as the official mascot of the games, but also as a befitting monument to enshrine the occasion in the hearts and minds of its stakeholders.
MINESUP Boss Enjoins Fair Play in Cameroon University Games By Stephen Njumbe Sako
Cameroon’s Minister for Higher Education (MINESUP), Professor Jacques Fame Ndongo, has called on all participants at the 15th edition of the Cameroon University Games to exercise fair play. Prof Ndongo made the call on Saturday, May 5, 2012 in Buea, during the opening ceremony of this year’s University Games, taking place on the campus of the University of Buea under the theme “together, let’s build a Cameroon of excellence.” The MINESUP boss encouraged the youths participating at the event to use the games as an avenue to blend physical talents to their intellect, which to him would make a Cameroon of excellence.
Africa's Private Sector: What's Wrong with the Business Environment and What to Do About It
By Vijaya Ramachandran, Alan Gelb and Manju Kedia Shah
Paperback: 110 pages; Publisher: Center for Global Development (January 13, 2009); Language: English; ISBN-10: 1933286288; ISBN-13: 978-1933286280
Why is business performance lagging in Africa? To provide answers, this volume focuses on the day-to-day problems that private sector managers and entrepreneurs there encounter. Through enterprise surveys conducted in several African countries, particularly in sub-Saharan Africa, these businesspeople identify poor infrastructure —particularly the lack of a reliable source of power —as a huge constraint on private sector activity. Politics also plays a key role in limiting the success of African businesses. Many countries there have private sectors that are ethnically segmented or dominated by ethnic minorities or both. Segmented networks in already sparse economic environments limit competition, encourage an ambivalent attitude toward facilitating a good business environment, and constrain the growth of firms outside the dominant network. Consequently, Africa has yet to see the emergence of a broad-based business class. Africa's Private Sector identifies several solutions to address both the infrastructure and political economy constraints hampering business growth in Africa.