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.
More oil found in Ghana
The headline says it all.
Tullow Oil has made another “significant” oil discovery in Ghana, in a block adjacent to one where it made a big discovery in June, supporting investor hopes that the country will become a major profit centre for the firm.
London-based Tullow said in a statement on Wednesday that the Hyedua-1 well discovered “a significant light oil accumulation”, in the Deepwater Tano block, which Tullow operates and in which it has a 50 percent stake. U.S.-based Anadarko Petroleum Corp and private-equity backed Kosmos Energy own 18 percent each.
Oil will be developed as soon as 2011. Read more
(via YG)
Vote to add Africa 2.0 panel to SXSW festival schedule
Over the past year and a half, I’ve come to love writing about African style and business issues and interacting with the many inspiring people and ideas which I’ve come across through this blog. In my experience, today’s technology has provided us with the most effective vehicles to communicate and has caused an acceleration of African ideas AND actions across borders and even hemispheres. In my first attempt at taking our online conversations offline, I’ve proposed a panel idea for the upcoming South by SouthWest (SXSW) Interactive Festival being held in Austin, Texas March 7-11 2008. The proposed panel, Africa 2.0: Affecting Change Using Technology, will discuss how blogs, social networks, digital media and mobile technology are being used by businesses and citizens — both African and foreign — to affect change in Africa. The group of panelists will discuss adoption of mobile technology, community activism online and offline, and digital media’s effect on African entertainment industry growth. The process of developing the final schedule for the festival relies on a public vote to decide which panels actually get added. Please take a moment to VOTE to add the Africa 2.0 panel to SXSW Interactive schedule. My panel seems to be the ONLY Africa-related panel idea for the interactive festival.
In related news, I am hoping to put together a panel/roundtable to be held in New York City sometime this fall. I’m looking to bring many of you together to discuss opportunities and experiences in African business. If anyone has any ideas or would like to suggest any sponsors please contact me. I’ll have soe more specific information soon. Now go VOTE for panel!!
Other panels which deserve your vote:
- Anastasia Goodstein (Ypulse.com) – What Teens Want — In a Game
- Clyde Smith (ProHipHop – Hip Hop Marketing & Business News) – From B2B Blog to Media/Event Empire
- Rohit Bhargava (Ogilvy Public Relations Worldwide) – Business and blogging panels
- David Armano (Critical Mass) – From Long Tail to Fuzzy Tail
Hilton Hotels brings brand to Ghana
Inc. Magazine alerts us to an announcement by Hilton Hotels that it will open its first property in Ghana in early 2010. Named The Hilton Accra Airport City, the 186-room property will be located in Airport City, a new mixed-use development in the heart of ‘upscale’ Accra. This makes Hilton Hotels one of the first upscale international brands to operate in the capital city of Accra. Owned by Grand Real Estates and Company Limited and managed by Hilton Hotels Corporation, the new property will become Hilton’s ninth property in Africa joining hotels in Morocco, Algeria, Nigeria, Ethiopia, Kenya, Cameroon and South Africa. Additional Hilton properties are under development in Africa in Equatorial Guinea (Malabo) and Uganda (Kampala).
Inc. Magazine’s Mike Hofman adds “Our latest survey of Inc. 500 companies, to be published in September, shows that America’s fastest-growing firms are currently doing business in at least 12 African countries, led by cosmopolitan South Africa but including such once-hard-luck cases as Uganda, Nigeria, Cameroon, Ethiopia, and Djibouti.”
This gives us a tremendous opportunity to establish our brand in an African country that is experiencing strong growth. Accra itself is a key commercial and tourism hub for the country, with a real and growing requirement for upscale hotels. Expansion in Africa is key to our development strategy, – Jean-Paul Herzog, President, Hilton Hotels, Middle East & Africa.
Forget aid and money, Africa needs IDEAS!
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.
From Philip Emeagwali’s speech delivered at the University of Alberta, Canada, September 23, 2006 (read more)
Climate change threatens Ghana’s economic future
Speaking to people living in Ghana recently, I had become worried by the ongoing power problems. While power outages are nothing new to 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.
The water level at the Akosombo Dam is 41 feet below the dam’s high-water mark, affecting Ghana’s power distribution and subsequently it’s business climate. “Officials say they will bring emergency generators on line and hope a long-dormant plan to add a Chinese-financed dam on the Black Volta River, upstream from Akosombo, will become a reality within a few years.” the WSJ article points out. But while global warming has accelerated it’s unreliability, many Ghanaians I’ve spoken to fault government officials for not moving quickly enough to find alternative sources of electricity to relieve the pressure on the 41-year old Akosombo Dam. With the 2008 Africa Cup of Nations and numerous other economically beneficial events planned in the next year alone, Ghana is at a crossroads and a wrong step can undo 50 years of steady growth.
(photo by ckoukkos)
Is there an African culture code?
Africaincorp relates lessons from the book The 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.
Africa Enterprising articles part 3
The 3rd edition of the The Carnival of African Enterprising has launched at the White African blog. As with the previous installments, 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.
“Africa:The Next Chapter” videos premiere
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.
African countries on 2007 list of 50 most desirable outsourcing destinations
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.)
Rank – Country (overall – financial – people – environment)
#13 – Egypt (5.6 – 3.2 – 1.1 – 1.3)
#25 – Mauritius (5.4 – 2.8 – 1.0 – 1.6)
#26 – Tunisia (5.4 – 3.0 – 0.9 – 1.5)
#27 – Ghana (5.5 – 3.3 – 0.9 – 1.3)
#31 – South Africa (5.3 – 2.5 – 1.2 – 1.6)
#36 – Morocco (5.1 – 2.9 – 0.9 – 1.3)
#39 – Senegal (5.1 – 3.2 – 0.8 – 1.1)
Other factors which add to a countries’ attractiveness are language and education skills and the reliability of a nation’s telecommunications infrastructure. But the the key underlying factor for many African countries’ successful bid for new business is the lack of infrastructure. While the African digerati are continuously ramping up their skills and making themselves available for business they continuously run into infrastructural limitations. But who is to blame? Is it the governments who are overrun with bureaucracy? or the people themselves, who often do not hold their leaders accountable?
Offshoring upstarts are making so many inroads, in fact, that by 2012, they’ll significantly dilute India’s dominance, says consultancy Gartner (IT). The consulting firm says that by 2010 about 30% of Fortune 500 enterprises will outsource to three or more countries, from less than 10% today. “So many governments have realized what an opportunity this is and there’s a lot of effort being spent in promoting their countries to the market,” says Johan Gott, manager of A.T. Kearney’s Global Services Location Index.
…Kenya, for instance, is trying to become a destination for business process and IT outsourcing. The Kenyan government has worked in recent years to liberalize its telecom sector, which has lured more operators and helped drive telecom services prices down by 70% in a short time, according to the World Bank. Yet the country relies on satellite connections to link to the rest of the world. That makes it costly for outsourcers to do business.