Here’s an interesting read from Wharton School’s Knowledge network.
But most Africans are seeing little benefit from this influx of oil drillers and investment. In fact, because of an economic paradox known as the “Resource Curse,” they are often hurt by exports of their countries’ oil. “Between 1970 and 1993, countries without oil saw their economies grow four times faster than those of countries with oil,” Ghazvinian notes, adding that oil exports inflate the value of a country’s currency, making its other exports uncompetitive. At the same time, workers flock to booming petroleum businesses, which saps other sectors of the economy. “Your country becomes import-dependent,” he says. “That decimates a country’s agriculture and traditional industries.”
As the the world goes online by the millions, the possibilities for domain names grows. The internet naming governing body, ICAAN, has been doing a good job so far of keeping up with the demands of online activity and creating standard practices. But while ICAAN considers the creation of non-english domains, Andrew Mack asks, “In a world of .com and .org, why not .Africa?”. Andrew raises a good point as the African continent attempts to attract investment; what better way to reach as many people as possible than organizing around a similar domain. From a business and tourism stand point I can see the .africa domain working as it will help foreign consumers identify services available within countries on the content. Imagine if there was a www.tourism.tz.africa for Tanzanian tourism information instead of the current www.tanzaniatouristboard.com. As Andrew points out, many southern African businesses have currently adopted the .za domain in an attempt to create an association with the strong South African economy and brand. But why not eliminate the regional segmentation and create a continental domain that would aggregate the strengths of the various economies. A .africa domain will also allow the centralization of many African content, business or otherwise, and more accurately reflect the size and depth of content about the continent strengthening the Africa’s brand image. So what do you think? What are the pros or cons of a .africa domain? Would you change your domain? Read more about the .africa efforts at www.dotafrica.blogspot.com.
Here’s a good opportunity for African creatives to get some real world projects under their belt: The African Leadership Academy, a world-class boarding school opening outside Johannesburg, South Africa on September 2008, has launched a pan-African design competition to solicit designs for the Academy’s inaugural school uniform. The competition is open to individual students or groups of students between the ages of 12 and 20 all across Africa. The best design will be decided by an international panel which will include world-renowned African fashion designers, and the winner will be commemorated with a plaque at the Academy. The first round runs until the 15th of November.
If ideas are capital, why is Africa investing more on things than on information, and more on the military than on education? Suddenly, I realized what this idea could mean for Africa. If the pen is mightier than the sword, why does a general earn more than the work of a hundred writers combined? If ideas are indeed capital, then Africa should stem its brain drain and promote the African Renaissance, which will lead to the rebirth of the continent. After all, a renaissance is a rebirth of ideas. And knowledge and ideas are the engines that drive economic growth.
Speaking to people living in Ghana recently, I had become worried by the ongoing power problems. While power outages are nothing newto many of us in developing countries, I have started getting worried about the effects of Ghana’s ongoing power issues on the country’s looming economic growth spurt. While power shortages are an inconvenience to the regular Ghanaian, for Ghana’s growing entrepreneur class the shortages are a critical issue. The Wall Street Journal’s Michael Phillips writes
Just as its economy is picking up steam, Ghana is finding its growth stunted by a force beyond its control: climate change.
Rainfall in the West African country has declined so sharply in recent years that the water level behind the 41-year-old Akosombo Dam, long the country’s main power source, is now at a record low, forcing the government to ration power and companies to invest in costly diesel generators. Economists estimate the water-and-power shortage could slash as much as two percentage points off Ghana’s economic growth this year.
Africaincorp relates lessons from the bookThe Culture Code: An Ingenious Way to Understand Why People Around the World Live and Buy as They Do to the African diaspora.
What makes a Kenyan “Kenyan”, what makes an Ivorian “Ivorian” and what makes an Moroccan “Moroccan” are answers the savvy professional,entrepreneur,investors and executives are actively seeking as we speak.
Businesses and other mediums that are able to provide the answer or at least a lead will make a lot of money along the way. These answers would then be at the core of any product and service development so that customers throughout the vibrant African economies would be offered products that are in line with the codes.
The 3rd edition of the The Carnival of African Enterprising has launched at the White African blog. As with the previousinstallments, this edition highlights some of the best posts from the African business/entrepreneurship blogosphere. Head over to White African to check out top posts from 5 of Africa’s top blogging/business talent, with a bonus addition from Annansi Chronicles (Big Thanks to Hash).To find out more about the ongoing carnival go here. Special thanks to Benin Mwangi for organizing everything.
The good folks at TED (Technology, Entertainment, Design) have debuted the first videos from the powerful TEDGlobal 2007 conference held in Tanzania earlier this year. Called “Africa: The Next Chapter”, the conference featured talks from many of Africa’s current innovators. The first few uploaded videos include South African investment banker Euvin Nadoo - who I met at the Harvard Club in New York in April - describing a continent poised to light up, Ghanaian economist George Ayittey’s lacerating criticism of Africa’s “hippo generation” to inspiring appeal for the “cheetah generation” to arise, former Finance Minister of Nigeria Ngozi Okonjo-Iweala showing how the different pieces of the aid vs trade argument could be reconciled, and finally 19-year-old Malawian inventor William Kamkwamba who won a standing ovation for his shy 3-minute interview, revealing how as a 14-year-old he solved his parents’ energy needs in a village which had no electricity. These first videos are a window into the minds of Africa’s growing entrepreneural class. I can’t wait for the other speakers’ videos.
BusinessWeek’s recent article on rising outsourcing destinations highlights what many African entrepreneurs have proposed for years. Outsourcing to parts of Africa can be a win-win situation. The BusineesWeek article refers to consultancy A.T. Kearney’s 2007 list of the 50 most desirable outsourcing destinations worldwide. For the list countries were ranked by a) financial attractiveness, based on such measures as compensation and infrastructure costs; b) a so-called people score, measuring a nation’s people skills, availability of language and educational skills, and the size and quality of the IT industry; and c) their economic/political environment, infrastructure quality, cultural exposure, and IP security. While India remains the top outsourcing destination many African countries are learning from their example. (Note: Scores are in parentheses.)
Speaking to people living in Ghana recently, I had become worried by the ongoing power problems. While power outages are 
BusinessWeek’s 
