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Extraordinary Meeting of the OPEC Conference ends in Luanda, Angola

The 155th (Extraordinary) Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) convened in Luanda, Angola, on 22 December 2009, under the Chairmanship of its President, HE Eng. José Maria Botelho de Vasconcelos, Minister of Petroleum of Angola and Head of its Delegation, and its Alternate President, HE Germánico Pinto, Minister of Mines and Petroleum of Ecuador and Head of its Delegation. His Excellency António Paulo Kassoma, Prime Minister of the Republic of Angola, formally addressed the Conference. OPEC whose mission is to coordinate and unify the petroleum policies of Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital to those investing in the petroleum industry; convened in the capital city of one of Africa's largest oil producers.

Dubai Developer shelves Rwanda Plans

Leisure and Hospitality infrastructure developer, Dubai World has scrapped six of eight planned tourism projects in Rwanda. The Rwanda development Board (RDB) reports that Dubai World has drastically scaled back on a US$230 million tourist promotion programme citing the impact of the global financial crisis. The scheme included a championship-class golf course with a residential is going forward: a lodge in Kinigi near Volcanoes National Park, and an eco-lodge at Nyungwe Forest National Park// African Business

Website Launched For The Cameroon Professional Society

The Executive Bureau of the Cameroon Professional Society (CPS) has made public its inaugural website. As the gateway for the CPS, the website offers a preview of the many programs and events sponsored by the CPS. While highlighting the overall ideological framework of the organization, the website specifically features symposia organized to spur critical discourse within the Cameroonian community. “Through our website, we hope to reach the many Cameroonian professionals residing in the United States and abroad, to seek concrete ways of advancing ourselves, our communities, and nurturing a new generation of leaders to propel our country forward,” said Dr. Denis A. Foretia, President of the Cameroon Professional Society.

Malaysia eyes Africa for oil palm expansion

By Niluksi Koswanage

Malaysia's state plantation agency will focus on growing oil palms in West Africa after scrapping plans to develop estates in Brazil last month, the Business Times reported on Monday. The Federal Land Development Authority (FELDA), which owns 800,000 hectares of plantation land in Malaysia, will expand mostly in Cameroon and Liberia, its chairman Mohamad Yusof Noor was quoted as saying by the business daily. "We might start planing an initial 100,000 hectares and if there is no trouble, we can increase the hectareage," Mohamad Yusof said. "But its all under feasibility study right now."

Africa’s disease is Idleness

By James Shikwati 

I was saved from Luhya (laziness) in 1966!” an old lady in her early 80s stunned an audience in Kitale at the weekend. Obviously the kneejerk reaction by many people was to dismiss her with contempt. Her assertion came hours before China pledged $10 billion in new loans to Africa in the next three years; cancellation of debts for some countries and investment in clean energy projects. Africa’s traditional allies, that is, Europe and US have been pushing a fear campaign against China in a subtle way. China is accused of ignoring human rights abuses, not being transparent and not promoting democratic ideals in Africa. Compare this with the West’s own involvement in Africa; they shipped over 12 million Africans as slaves to power their economies in the 17th century; they colonised and imposed their own governance institutions onto Africa; they planted their own religion and school systems and continue to supervise the Africa using institutions such as the World Bank and the IMF.

Why Cameroonian Managers Fail

By Snowsel Ano-Ebie

One can consider management as the ability to plan, organise, and coordinate an organisation’s financial, human, material and other resources in order to achieve its objectives. You don’t need to study the management classics, or delve into “Scientific Management” by Frederic W. Taylor, “Management as a Profession” by Mary Parker Follett, or “The Manager’s Job: Folklore and Fact” by Henry Mintzberg, in order to identify managerial failure in Cameroon. Over the years, Cameroon has been plagued by many problems like corruption which is now a national culture, crippling youth unemployment, ethnocentric calculations that breed tribalism, inability to attain a two digit growth rate and break lose from the grip of the economic crisis, a hideous debt burden, and many other challenges that can all be blamed on mismanagement.

Organizing Holiday Parties during the Festive Season

By Irene Zih Fon

Holidays are a special opportunity  to reconnect not just with family and friends, but also with coworkers or business associates. When planning an office or official holiday party participants and organizers should take note of the following tips, in order to make the celebrations uniting  for all and fulfilling enough, to make those present want to keep existing contacts or nourish new ones- relations which of course, are always useful in the business world!

NEPAD zeroes in on Skills Development

By Florence Nazare

The NEPAD Chief Executive Officer, Dr. Ibrahim Mayaki, has called for specific home-grown strategies to help in the development of skills that are required to put policies into practice for the purposes of poverty eradication in Africa. Dr. Mayaki made this statement at the official opening of the NEPAD Capacity Development Continental Steering Group (CSG) meeting on 27 July 2009, in Accra, Ghana. The meeting aimed at providing technical insights for the implementation of the NEPAD Capacity Development Strategic Framework (CDSF), as the continental framework on capacity development. The CDSF is a guiding approach towards strengthening capacity development assistance in countries and RECs, through NEPAD. At the core of the strategic framework is the need for countries to pay attention to national capacities to manage their own affairs.

Private Business Investment Key to Economic Success

The private sector is the most important vehicle for economic growth and regional integration, the Director of NEPAD and Regional Integration Division at the United Nations Commission for Africa told participants at the 5 th African World Business Congress (AWBC) and the 1 st IGAD Investment Forum 2009 (IIF). Addressing the closing session of the three-day congress, Mr. Abdalla Hamdok said that although the global economic crisis had seriously affected the continent in terms of trade, investment and remittances, Africa remains the best place to do business.