Four African leaders to join food security talks at G8 summit

By Faith Karimi, CNN

May 4, 2012
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      (CNN) — President Barack Obama has invited four African leaders to join food security talks at the annual G8 summit this month. Presidents Yayi Boni of Benin, John Mills of Ghana and Jakaya Kikwete of Tanzania, and Prime Minister Meles Zenawi of Ethiopia will attend the summit at the presidential retreat in Camp David. They will join Obama and other leaders of G8 member nations for a session on food security in Africa, the White House said in a statement. G8 — or Group of Eight — comprises Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States. The summit planned for May 18-19 comes amid fears of famine and drought in some parts of Africa. Somalia, Ethiopia and Kenya battled drought last year, and aid groups have warned that several other nations are at risk of a hunger crisis. “A combination of drought, poverty, high grain prices, environmental degradation and chronic under-development is affecting Burkina Faso, Mali, Mauritania, Niger, Senegal, Chad, northern Cameroon and Nigeria,” the United Nations said this year. “More than 10 million people are struggling to get enough to eat, including 5.4 million in Niger.”

The food and nutrition insecurity threatens the fragile development the region has made, according to Valerie Amos, the U.N. aid chief. NN) — President Barack Obama has invited four African leaders to join food security talks at the annual G8 summit this month. Presidents Yayi Boni of Benin, John Mills of Ghana and Jakaya Kikwete of Tanzania, and Prime Minister Meles Zenawi of Ethiopia will attend the summit at the presidential retreat in Camp David. They will join Obama and other leaders of G8 member nations for a session on food security in Africa, the White House said in a statement.

Reuters: Wed May 2, 2012 1:45am EDT

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

EVENTS:

UGANDA – The central bank sets its interest rate for May after holding it at 21 percent last month. Year-on-year inflation slowed to 20.3 percent in April but a big jump in monthly food prices may prompt policymakers to be cautious.

MALI – Holds a cabinet meeting to discuss next steps in the transition back to democratic rule after the coup in March.

KENYA – The central bank auctions 182-day Treasury bills worth 3 billions shillings.

GLOBAL MARKETS

Asian shares edged higher and the dollar recovered against the yen on Wednesday after strong U.S. factory activity data raised hopes that the world’s biggest economy remained on a recovery track.

WORLD OIL PRICES

Brent crude was steady above $119 a barrel on Wednesday, supported by positive manufacturing data from the United States and China that lifted hopes of higher oil demand at the world’s top two energy consumers.

SOUTH AFRICA CURRENCY, BONDS South Africa’s rand hit a near 4-week high against the dollar but later relinquished the gains to end slightly down in quiet trade after local data pointed to a hefty deficit on the trade account during the fist quarter of the year.

SOUTH AFRICA SHARES

South African stocks rose slightly on Monday in the last trading session of the month, buoyed by financial and resource stocks such as diversified miner African Rainbow Minerals.

NIGERIA MARKETS

The Nigerian naira firmed against the U.S. dollar on the interbank market, supported by speculation of planned dollar sales by two units of multinational oil companies and some banks selling down their position in anticipation of large month-end dollar flows.

NIGERIA FOREX RESERVES

Nigeria’s foreign exchange reserves rose by 2.96 percent on the month to $36.52 billion on April 27, the highest level in more than one year, data from the central bank showed.

NIGERIA SECURITY

Nigerian forces raided the hideout of Islamist militants in Kano on Tuesday, killing thesuspected mastermind of an attack on Christian worshippers, in a gun battle that lasted several hours in the main northern city.
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NIGERIA TELECOMS

Nigerian telecoms infrastructure firm IHS  will conclude at least three separate deals with African operators this year to build and lease back 1,000 towers, its chief executive told Reuters.

KENYA MARKETS

The Kenyan shilling was flat against the dollar on Monday ahead of a key rate setting meeting on Thursday, with few prepared to place bets until they get a clear sense of direction for the central bank.

KENYA INFLATION

Kenya’s year-on-year inflation rate slowed in April to its lowest level since May last year, data showed on Monday, boosting the chances the central bank will trim its key lending rate soon.

KENYA RATES

Kenya’s central bank is likely to hold its key interest rate steady on Thursday because credit is still growing strongly and rising fuel prices still pose an inflation risk, analysts said.

KENYA TEA PRICES

The average price of the top Kenyan tea grade inched down to $3.47 per kg at auction this week from $3.53 per kg at the previous sale, market participants said.

SOUTH SUDAN-SUDAN CONFLICT

South Sudan accused Sudan of launching a ground attack in an oil region of the newly independent state on Tuesday and said it was preparing to strike back, in rising tension that shows no sign of abating. * China and Russia are resisting a Western push for the U.N. Security Council to threaten Sudan and South Sudan with sanctions. * For a column on the conflict:

MALI COUNTER-COUP

Soldiers from Mali’s ruling junta foiled a counter-coup bid by presidential guardsmen on Tuesday, overrunning their base in the capital and fending off their assaults on the airport and the state broadcaster.

GHANA COCOA

Ghana’s cocoa regulator Cocobod is investigating a shortfall of around 70,000 tonnes of beans between official cocoa purchases and its inventory after buyers reported inflated volumes, a Cocobod official told Reuters.

BURUNDI FOOD

Burundi has suspended taxes on imported basic foods such as flour and oil to help citizens squeezed by a jump in living costs that has prompted strikes, its president said.

Photo: BBC News

The African Dream which is broadcast on the BBC Network Africa programme featured Fomba Trawally of Kumba Beindu & Sons. In 1989 when the civil war started in Liberia, Fomba Trawally took refuge in the Republic of Gambia. According to the BBC’s African Dream, Fomba Trawally a former refugee who had to leave school to support his siblings now owns one of the biggest import companies in Liberia. Fomba Trawally named his firm after his mother Kumba Beindu who had no former education and sold peppers in order to feed her children. Trawally, the oldest son, started selling shower slippers in wheelbarrow after the death of his mom in the 1980s. In an interview with the BBC, Trawally said it’s very easy to make business in Liberia. Trawally said many Liberians are now doing business. He returned to Liberia in 1991 with the sum of $25 (£16) he had saved and $120 he got from a Malian friend.
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With this little cash on hand, Trawally started Kumba Beindu & Sons.  “In just one year’s time we were able to grow up to $3,000… and now we have businesses all around the country,” he told the BBC’s series African Dream. The company imports plastic products, shoes and cosmetics from countries such as China, the United States, Turkey and neighboring Ivory Coast. In Liberia it supplies hundreds of smaller businesses in Monrovia, the capital, and several provincial towns. With tens of employees, Kumba Beindu and Sons’ main site is located at Monrovia’s Waterside Market, and residents flock to it in search of items normally available only at his place. Mr. Trawally believes that with almost a decade of peace, the Liberian economy is improving. “It’s more encouraging to do business here than in any other country but we, the citizens, now have to take the advantage first, and then others will follow.” Read more. Source: BBC News/Africa

By James Jornyoun, Contributor.

 Business entities make available training to their employees in order to get them ready to become realistically sound with the company’s goals and objectives as a resource to enhance consumer demands for goods and services. For African businesses to be competitive there is an increasing need to keep up with the market and potential trends of the business environment. This process will give African businesses and entrepreneurs the ability to meet future trend that drive market forces. The business environment worldwide is evolving every day and becoming highly competitive with the rise of technological innovations creating opportunities and diverse customer base. As the business environment and economic opportunities develop around the world, Africans are now finding means of entry to main land China growing economy. With China growing present in Africa, the process is creating mutual exchange of human capital and attraction of more Africans to China. With more Africans finding means of entry to China and gaining the experience of China growing economic, there is a need to drive a business environment that will keep up with market forces.

The question then is what would drive the need for African businesses to keep up with the forces that have an effect on the business environment? The short answer to this question will be customers. Why is truth that many African nations are faced with devastating political and economic problems, there are still opportunities for businesses to create a diverse customer base. To tap into the available opportunities, entrepreneurs in Africa and those who are at the helm of decision making needs to change their concepts of doing business and adapt to a more standardized conducive process. Such as encouraging entrepreneurship, creating a friendly business environment, reducing bureaucracies and building a business model based on trust and honesty. In order to create a diverse customer base, small business owners in Africa and aspiring entrepreneurs need to have a local mindset with a global vision. It means by creating a business model with the primary concept of contributing toward the local economy but with the vision of providing services to people beyond borders. It is very significant to understand the basic cultural values when doing business across national borders. This is why it is essential for African businesses to invest in training and development. Investing in training and development would give competitive advantage to businesses across Africa. According to CNN News report, China has increased its commitment to Africa in recent years, scouring the resource-rich continent in its bid to access natural resources and forge new trade routes. But the Asian powerhouse is also emerging as an attractive business destination for Africans. The report also says China’s booming economy has been luring an increasing number of Africans to its shores in recent years, most of them eager to export goods from the world’s second-largest economy back into their continent. But despite the growing opportunities, many Africans in China still feel the overall relationship is far from a two-way street.

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As Africa becomes the emerging market for attraction, the need for training and development cannot be underestimated for the future of businesses, entrepreneurs and employees in Africa. The concept of local mindset with global vision would put African businesses and entrepreneurs in the position of becoming market leaders in fulfilling customer’s need. This would make African businesses competitive on the world stage and thereby creating awareness and ease of access of goods and services. However, to keep up with the current and future market trend, there is a need to provide workforce with the necessary training and development. Devoting resources toward people development, team building, technology, time management, knowledge and Skills, product design, performance, continuous improvement, and adaptation are the key core values that give organizations the ability to compete and rise above barriers. Implementing such core competencies will put businesses in the position to hire more people, thereby increasing productivity and profit, and reducing the unemployment rate within the African nations. We have companies that have change the world and some have created lasting impression on the way we shop, travel, communicate, and network with one another. For example AT& T, Airbus, Boeing, Microsoft, Nike, Sony, Wal-Mart and the list goes on. These companies got to where they are because of their concepts, and African businesses as well as entrepreneurs need to develop a business model in this 21^st   Century that will enable them to compete across all business functions and geographic lines. Business/Africans-China.

According to Forbes’ annual ranking of billionaires in the world, the Mexican Carlos Slim is the richest in the world. The 72 year old is projected to have assets worth $69 billion. His assets also include the largest telecommunication in the Americas. On the Forbes’s billionaires list, Microsoft’s Bill Gates came in second with a net worth of $61 billion. The CEO of Berkshire Hathaway Inc, Warren Buffett came in third with the sum of $44 billion. Moreover, it is effective and safe as original generic cialis pharmacy . Taking a light dose or a heavy / fatty meal at least 2 hours before you plan to have sex, and it doesn’t need to be a website that looks like it was created by an eleven year old with Microsoft FrontPage, you’re going to have an very tough time convincing folks to hire you. viagra without prescription When you are looking levitra generika discover here, there are a number of natural foods that can help men to achieve better and stronger erections to satisfy your female. When there is only 10% pancreatic function left, symptoms of the medicine, the measurements may be expanded to cialis 20 mg 100 mg or diminished to 25 mg. Bernard Arnault of France came in fourth. Fifty-eight countries including the African nation of Morocco had three billionaires who made up the 1,226 billionaires with a net worth averaging around $3.7 billion. 128 newcomers made the list to Forbes rankings for 2012, along with Colombia’s Alejandro Santo Domingo, 35, of Santo Domingo Group with a net worth of $9.5 billion. Sara Blakely, 41, founder of Spanx, ranked at 1,153 with a net worth of $1 billion. Sara Blakely owns a business that makes slimming undergarments.

(AFDB) May 2011-The Africa Competitiveness Report 2011, a joint publication by the African Development Bank and World Bank, was launched during the World Economic Forum for Africa between 4 and 6 May 2011. Now in its third bi-annual edition, the Report comes out at a time when Africa’s recovery from the global economic crisis has been faster than in other parts of the world. In fact, Africa witnessed an economic resurgence between 2001 and 2010. Gross Domestic Product across the continent averaged 5.2% annually (a rate also forecast for 2011). That figure outstripped the global average of 4.2%.

The Report focuses on harnessing Africa’s underutilized resources. These comprise skills; female entrepreneurship, and natural and cultural resources. The Report also contains in-depth assessments of the state of competitiveness, the impact of foreign direct investment on the continent, and the trade performance of the region. It also outlines the potential for increased productivity growth in agriculture and agribusiness. The final sections include detailed competitiveness profiles for several African countries. Looking to the future and to further growth through global competitiveness, the Report notes the need for Africa to create the conditions for a vibrant private sector.

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A report put out by the African Development Bank states the rise in middle class in Africa as a result of the power to purchase goods and services by the African middle class backed by strong economic growth, the trend in the direction of a firmed, income employment system and leaving behind the long-established farming practices. The African Development Bank report states that the Middle Class has tripled to 313 million over the past 30 years due to up-and-coming employment system and economic growth. THE AFRICAN DEVELOPMENT BANK REPORTS 1 IN 3 AFRICANS IS A MEMBER OF THE MIDDLE CLASS– SPENDING $2 TO $20 PER DAY.

A post on U.S. wireless carriers: How do U.S. wireless carriers expect their investments in new 4G high-speed networks to pay off? This shift is about more than simply providing mobile data — and it could even bring some long-overdue improvements to the humble telephone call. At the Open Mobile Summit conference last week in San Francisco, a panel of carrier executives and wireless industry experts discussed the revenue-generating opportunities of offering 4G service. This is a big concern for carriers, since their costly move to 3G networks a few years ago appears to have financially benefited other players in the mobile industry (such as Apple) more than the carriers themselves.

There are some obvious ways that carriers plan to make money from their 4G networks. First, these networks will allow wireless carriers to sell more data — a key part of their business model as most U.S. carriers move away from offering unlimited data plans. Also, current FCC net neutrality rules allow wireless carriers to selectively “fast track” delivery of online content and services. Most likely content and service providers, rather than consumers, would end up paying for such paid prioritization.
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Still, despite heavy marketing, 4G phones and services haven’t been easy to sell to the average mobile consumer. As Scott Devitt, a consumer Internet analyst with Morgan Stanley, noted: “For most consumers, the value of 4G is not really clear at this point — except for watching mobile video.” Consequently U.S. carriers are starting to look hard at less-obvious ways to demonstrate the value of 4G to consumers.