The Entrepreneur - Cameroon's Premier Economic & Business Journal

East Africa Could Match Japan in Ease of Doing Business

By Kimberlee A. Brown

A recent World Bank report has assessed the potential of East African states in garnering new investments and promoting entrepreneurship development. According to the report, "if the best of East African regulations and procedures were implemented across the board, the business regulatory environment in East Africa, as measured by the report, would be comparable to that in Japan." The report, Doing Business in the East African Community 2011, draws on data from the annual global Doing Business study and takes a detailed look at business regulations in Burundi, Kenya, Rwanda, Tanzania, and Uganda. The report states that East Africa could benefit from sharing good practices in business regulation as measured by Doing Business.

Top hotels wake up to Africa growth potential

By Wendell Roelf

Global hotel chains are poised to spend hundreds of millions of dollars in Africa over the next few years to meet increased demand from both international tourists and the continent's own fast-emerging middle class. Africa was the only region in the world to show growth in tourism in 2009, according to the World Tourism Organisation. In 2010 international arrivals rose by 6 percent to 49 million, slower than Asia or the Americas but double the growth rate for Europe. Industry executives say that as consumer spending stalls in developed markets, more multinationals are betting Africa's growth will eventually translate into meaningful revenue -- if they can negotiate the considerable regulatory and infrastructure challenges of doing business there. InterContinental Hotel Group, Accor, Starwood and Rezidor Hotel Group, the group that operates the Radisson Blu chain, are among those looking to capitalise on the continent's urbanisation and build up its underdeveloped hotel industry.

Cameroon cocoa output hits record

By Tansa Musa

Cocoa production in Cameroon, the world's fifth largest grower, hit a record 236,701 tonnes during the 2010-11 season, according to preliminary figures released by the state agricultural regulator on Friday, August 12, 2011. The bumper crop adds to record volumes from other top producers in West Africa like Ivory Coast and Ghana that promises to swell global stockpiles of the bean, the raw ingredient in chocolate. Cameroon output for the year-long season which ended on July 31 -- including exports, local grinding, and stockpiling -- amounted to 236,701 tonnes. That broke the previous record of 210,000 tonnes during the 2008-09 season, according to the National Cocoa and Coffee Board. Cocoa exports totaled 202,721 tonnes, up nearly 18 percent from the previous season's 172,177 tonnes, while local grinding by the sole domestic processor Sic-Cacaos hit 28,423 tonnes, and stockpiling hit 5,557 tonnes, NCCB said.

Kenya Airways soars with United Bank for Africa in a Pan African Commercial Venture

By Ambe Lizzette

Kenya Airways has entered into a partnership with one of the largest financial services institutions in Africa; United Bank for Africa Plc to promote trade and remittances across the continent. The UBA  a leading Pan-African Bank with presence in 19 African countries, New York City (USA), London (United Kingdom) and Paris (France). Headquartered in Lagos, Nigeria. Formalized by Kenya Airways Chief Operating Officer Mr. Bram Stellar and Managing Director of UBA Kenya Mr. Muyiwa Akinyemi, this partnership will see the bank highlight trade opportunities and financial products through onboard cabin advertising.

Entrepreneurs from Netherlands explore opportunities in Cameroon

By Ngomba Endeley
 

An important trade delegation from the Netherlands is in Douala to explore business possibilities in Cameroon. The delegation met with their Cameroonian counterparts at the Employers' Associations headquarters in Douala. The delegation visited and held working session with officials of the Chamber of Commerce and the seaport. The prospection mission to Cameroon began in Yaounde where they had exchanges with top government officials. One of their focus is to strengthen cooperation between the Dutch and Cameroonian chambers of commerce. The 15 man delegation was received by the Secretary General in the Ministry of the Economy, Planning and Regional Development.//CRTV

 

Cameroon Attracts Singapore Investors

FDI into Africa on the up

Africa increasingly attractive to emerging market investors

According to global consultants Ernst & Young, 2011 Foreign investors see the huge long-term growth possibilities that Africa presents in its first Africa Attractiveness Survey which combines an analysis of investment into Africa over the last decade, with a survey of over 562 global executives on their views about how and where investment will take place in the next decade.

Ernst & Young analysis of  foreign direct investment (FDI) projects shows that in the last decade Africa has seen an increase in inward FDI from 338 new projects to the continent in 2003 to 633 in 2010 (an increase of 87%).  Despite a drop in investment in the last couple of years following a peak in 2008, Africa has remained an attractive investment destination throughout the global downturn and has managed to maintain its relative share of global investment flows as a result. Strong growth in new projects into Africa is expected from next year with FDI inflows forecast to reach US$150b by 2015.

Enforcement of Intellectual Property Laws in Cameroon

By Grace Limunga Sama

With the advent of creativity, invention, and innovation, there was an increasing need for accrediting the works of authors. This was mainly to acknowledge exiting authors and even to encourage potential authors, thus the advent of IPRs. Legal principles governing IP have evolved over centuries but it was not until the 19th century that the terminology was used (Wikipedia, 2011). IPR is mostly recognised as one of the most important instrument for promoting economic, social, and cultural development for industrialised nations. This is in contrast in most developing countries as any further enforcement of IP laws is detrimental to their economies because they seek to acquire systems which favours learning by imitation or forgery. However there is a lot of controversy on this assertion because it is argued that protection of IPRs leads to development in an economy.

Enhancing Intellectual Property Rights in Cameroon

Challenges and the way forward

By Joe Eyong Assoua,

The World Intellectual Property Organization (WIPO) defines intellectual property as the creations of the mind: inventions, literary and artistic works, and symbols, names, and images used in commerce. Intellectual property is divided into two categories: Industrial Property which includes patents for invention, trademarks, industrial designs, and geographical indications. Copyright which includes literary works such as novels, poems and plays, films, musical works, artistic works such as drawings, paintings, photographs and sculptures, and architectural designs. Rights related to copyright include those of performing artists in their performances, producers of phonograms, and those of broadcasters in their radio and television programs.

Ghana’s oil discovery: Lessons from Nigeria 'and Africa'

By Olajide Damilola

THE news filtered around the international media recently that Ghana will start pumping its oil, estimated to be a minimum of 1 billion barrels inreserve. However, this news has been met with both joy and fear. Joy because this means Ghana now joins the league of oil producing countries,with the attendant streams of petrol Dollar in revenue. There is the fear of the so-called oil resource ‘curse’ or the paradox of plenty - often used to describe a situation in which countries blessedwith abundance of natural resources such as oil tend to have worse economic and development outcomes. This economic phenomenon is sometimes called the Dutch disease.

Macroeconomics traditionally offers some insights into how the ‘blessing’of abundant natural resources might turned into a ‘curse’ overtime. This may occur when the revenue from oil exports initially leads to increase in real exchange rate and wages. This increase in turn will eventually damage the other productive or tradable sectors of the economy, such as the agriculture and manufacturing, as they become less competitive in worldmarkets. On the government front, the revenue from oil exports will more likelyresult in higher government spending (e.g. on education, health, etc.),but this is more likely to be financed through deficits in anticipation ofhigher oil revenue that are vulnerable to vagaries in world oil prices.

Nigeria Plans New Free Trade Zone

By Ben Nakomo

Nigeria is to build a multibillion-dollar free trade (FTZ) with Chinese backing on the outskirts of Lagos. The new FTZ is designed to deepen local manufacturing base capacity and help reduce Nigeri’as import dependence. A newly commissioned 3.000 hectare site is the US5 billion first phase of the Leki FTZ on the eastern fringe of the city. It is 60% held by Chinese investors and 40% by the lagos state government, in a consortium that will provide roads, power plants and water plants before manufacturing firms are invited to set up business. The Chinese shareholders in the project include China Railway Construction Corp, the China Africa Development Fund Ltd and the China Civil Engineering Construction Corporation Ltd. The FTZ will include a deepwater seaport and a new international airport.Architects drawings show glistening glass and steel warehouses around a central lagoon, and a mini-city which will house more than 1,800,000 people.