Annansi Chronicles

Bob Geldof to front $750 million private equity Africa investment fund

Kofi — Mon, 06 Sep 2010 20:21:05 +0000

Mr Geldof, who has long campaigned against poverty in Africa, has been planning to launch the fund for several years but his efforts were delayed by the onset of the financial crisis. He is expected to use his knowledge of African development to source deals for the fund, although sources close to the situation insisted that the venture will be entirely commercial rather than charitable.

Philip Pritchard, a broker with Credit Lyonnais in Asia who is a friend of Mr Geldof, and Simon Hall, a London-based headhunter, are thought to have helped pull the plans together.

The team have already secured backing from the African Development Bank and the International Finance Corporation. Several other investors are set to sign up.

Mr Geldof’s foray into private equity follows in the footsteps of U2′s Bono who co-founded Elevation Partners in 2005.

via telegraph.co.uk

Bob Geldof to front $750 million private equity Africa investment fund is a post from Annansi Chronicles - African business and culture trends

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Ghana’s Black Stars celebrate World Cup push (video)

kofi — Thu, 01 Jul 2010 15:04:43 +0000

I’m quite proud to be a Ghanaian right about now.

The Black Stars haven’t just made Ghanaians proud.

Being the only African team left in the cup, they are being cheered on by fans across the continent – all wanting the dancing to continue right through to the final. – BBC

Video: The Black Stars, Ghana’s football/soccer team, celebrating at their hotel after the win that sent them into the World Cup 2010 Quarter-Finals (via Pearcesport)

Video: Ghanaians celebrates World Cup win over US

If you can’t see the videos above, go here

Ghana’s Black Stars celebrate World Cup push (video) is a post from Annansi Chronicles - African business and culture trends

Why Africa aid campaigns FAIL (free ebook)

kofi — Wed, 19 May 2010 20:32:53 +0000

On April 27, 2010 the popular website Mashable ran a post titled 1MillionShirts Leverages Social Media to Help Clothe Africa. The post was about a new charitable campaign launched by a pair of US-based social media marketing professionals whose goal was to get everyday consumers to “Help us send one million t-shirts to the people of Africa”. As the Mashable author wrote

The 1MillionShirts project, launched this month, is asking for used (but decent) T-shirts to be sent in with a one dollar bill to help with container costs. The shirts will then be shipped to Africa to help clothe folks in need.

The mis-guided campaign team set out to use social media tools to spread the word, encouraging supporters to use the #1millionshirts tag in comments about the campaign on Twitter. Within hours of the #1millionshirts tag appearing on Twitter a heated debate ensued between the marketers and the African development and aid professionals with both sides writing online, talking on Twitter, and even getting on an international conference call. In 24 hours what started out as a typical American-lead Africa aid charity campaign had fueled a full blown debate on the merits of such efforts, and how campaigns such as these negatively affect African communities and the aid industry.

To further the open discussion, and educate other would-be Africa aid campaigners, I have tapped the wisdom of the crowd to produce a case-study document titled “No Tees Please: Why Africa aid campaigns #FAIL”. The contributors to the eBook have shared their perspectives on this and other Africa aid campaigns and the hard lessons which can be learned when they miss their mark.

Feel free to download and distribute the eBook embedded below freely to anyone you feel can learn from the diverse perspectives on smart aid and foreign-lead African development initiatives. A special thanks to the numerous contributors and my co-editor Raquel Wilson for helping get this project out the door in a short period. Leave your comment below or follow me on Twitter (@GKofiAnnan) to join the ongoing conversation.

No Tees Please: Why Africa aid campaigns #FAIL

If you can’t see the embed above go here to view or download

Why Africa aid campaigns FAIL (free ebook) is a post from Annansi Chronicles - African business and culture trends

Do we need an African version of Vogue Magazine?

kofi — Tue, 18 May 2010 19:15:04 +0000

Recently, Paris-based Cameroonian photographer, Mauro Epanya, created a layout of what a possible African version of the trend-setting fashion glossy, Vogue Magazine would/could look like. The images, though creatively done, have sparked a debate about the merits of an African version of Vogue. In a well thought out analysis, Uduak at Labybrille Magazine, outlines the reasons why an African Vogue is not a good idea:

VOGUE Does Not Need to Validate Africa Before Africa Becomes Fashionable
The Internet has Created an African Fashion Media Revolution, So Why the Continued Need for Validation with a VOGUE Africa?
VOGUE Africa is Bad Business For Africa
VOGUE Africa Will Not Eliminate Racism in VOGUE’s Fashion Pages

For her part in the debate, Vanessa Raphaely, editor of Cosmopolitan South Africa and editorial director of Associated Magazines (Marie Claire, O, the Oprah Magazine, etc.) also writes an insightful commentary on her blog.

Then there’s the nuts and bolts of the business: Magazines generally follow where the cosmetic and fashion industry lead. On this continent, there are only two Vuitton stores. They are in Jozi and Cape Town, not in Gaberones, Brazzaville, Dar es Salaam or Libreville.

There is no High Street to speak of in Africa (not even in South Africa,) there is not a proliferation of shopping malls and high end international clothing giants littering the Sahara, North, Central, Western or East Africa, ergo, little demand for advertising pages.

In South Africa, the powerhouse of the region, local manufacturing is floundering due to a failure to compete with Asia and The Far East with regard to price.

That is why there is, to date, not even a South African Vogue. While fashion magazines like Marie Claire and ELLE are both well-established in the country, neither has the advertising riches to thrive that their sisters in the more developed parts of the world enjoy.

Both, it can be argued, require less very high-end advertising than Vogue to achieve the expectations of their European principals.

It’s not rich pickings here on the wild frontier.

So, even though it irks me to be so pedestrian, I have to ask: who would advertise in this Pan-African Vogue?

In the short term, a Vogue Africa would get many people excited and even generate a bit of revenue. Soon enough though, the novelty will wear off and the realities of organizing, producing, and shipping an African glossy in a global economy which has not been kind to print media will take hold. From platform (print vs. digital) to talent (African writers vs. Western writers) to business strategy (South Africa headquarters or not), there are different factors to think of when planning Vogue-type content for Africa; and corporate accounts will not ease the pain. That’s not to say an African fashion and style magazine cannot exist, but rather the strategy to launch and maintain one would need to take into account certain factors which aren’t an issue in the West.

One of the side-effects of the marketing and advertising activity around the upcoming World Cup is that in an effort to cash in on the African renaissance multinational corporations are again attempting to transplant their business models to a continent that lacks the same context that made those strategies successful in the West. They are looking to what their western experiences dictate and overlooking the unique opportunities that Africa has to offer – mobile proliferation being one of them.

If major publishers like Vogue/Conde Nast want to enter African markets they should look to partner with “local” businesses who have already dealt with the challenges and figured out what African audiences want and need. As I said in the comments section of the Ladybille Magazine blog, there are many many African media and content creators whose efforts are still being overlooked because their success is judged by Western perspectives. It’ll do Africans and global partners well to recognize and capitalize on what makes African stories, contexts, and perspectives unique.

‘Fela!’ musical lands 11 Tony Noms; Chiwetel Ejiofor cast as Fela in biopic

kofi — Wed, 05 May 2010 21:31:40 +0000

A BIG congratulations to the cast and crew of ‘FELA!’ The musical as they have just received 11 Tony Award nominations including Best Musical. The Tony Awards is the leading awards which honor Broadway productions that opened during the 2009-10 season. Along with the musical ‘La Cage aux Folles’, ‘Fela!’ has received the most nominations. ‘Fela! is nominated in all major categories including Best direction, Best performance by a leading actor, Best performance by a featured actress, and Best choreography. The 2010 Tony Awards show will air June 13 on CBS.

In related news Golden Globe nominated actor Chiwetel Ejiofor (Kinky Boots, American Gangster, Inside Man) has been cast to play Fela in the feature film biopic about the iconic Nigerian musician/activist. Deadline New York reveals:

(The) Focus Features movie about the African musician and activist Fela Anikulapo Kuti now officially has its leading man. Chiwetel Ejiofor is formally attached to play Fela in the film that will be directed by Steve McQueen, the British artist who made his helming debut on Hunger, the drama about the Irish hunger strike that starred Michael Fassbender.

When I revealed the project last year, Ejiofor seemed the obvious choice, but Focus Features wouldn’t confirm. Ejiofor sure has been taking it seriously on his end. In between his work on the upcoming Angelina Jolie-starrer Salt, he has been learning to play piano and saxophone to prepare for the role. I’m told he’s gotten quite good.

When I first heard about the biopic some months ago many people on Twitter, including myself, put in their vote for Ejiofor in the lead role. It seems the producers were thinking as we did. Though the two projects are unrelated, I can’t help but think the musical helped solidify production plans for the film. I, for one, am excited for both projects. Go see Fela! The Musical.

‘Fela!’ musical lands 11 Tony Noms; Chiwetel Ejiofor cast as Fela in biopic is a post from Annansi Chronicles - African business and culture trends

Africa in vibrant technicolor, Paul Sika talks to CNN

kofi — Tue, 04 May 2010 16:11:48 +0000

One of the most dynamic, engaging young creative talents coming out of the African continent recently is Ivorian photographer/creative director Paul Sika. After being introduced about a year ago by a mutual friend, I was impressed by his creative vision and passion. Paul’s use of color and juxtaposition of characters in his photo and video creations expose a new way of looking at contemporary African life, culture, and style. A true entrepreneur, Paul has put together an upcoming book titled “At The Heart Of Me …” featuring his intricate work and concepts. As I mentioned in my earlier post “Top 6 African business and culture trends to watch in 2010“, Paul Sika is one of the African creative class making an impact this year. For more about Paul Sika and his upcoming book, visit PaulSika.com

Trailer for the book “At The Heart Of Me …” by Paul Sika

CNN Inside Africa’s Isha Sesay talks to Ivorian photographer Paul Sika about his vibrant images, filled with eye-catching colors.

If you can’t see the videos above, go here to view

Africa in vibrant technicolor, Paul Sika talks to CNN is a post from Annansi Chronicles - African business and culture trends

Bill Gates: Mobiles not PCs for global health in developing markets

Kofi — Wed, 28 Apr 2010 15:55:22 +0000

via mobihealthnews.com

Microsoft Chairman and philanthropist Bill Gates recently sat down at UC Berkeley to discuss the need for personal computers versus cell phones in so-called developing markets.

Bill Gates: Mobiles not PCs for global health in developing markets is a post from Annansi Chronicles - African business and culture trends

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Africa’s digital revolution (video)

kofi — Mon, 26 Apr 2010 17:13:05 +0000

Radio Netherlands Worldwide features a short video on Africa’s digital revolution. The video, highlights the use of digital tools, online and mobile, by young Kenyans to bridge the learning and economic gap. A key observation when watching the video is the underlying shift from formal organized education to informal individual education as a result of Kenyan youth’s access to technological tools. Watch the feature below featuring Mark Kamau of Nairobits and John Karanja of Whive.

Nairobi is buzzing! There is an energetic and innovative vibe in the city. A young generation has risen to take matters into their own hands.

ALSO WATCH
CNBC Africa: East Africa Business Report on Social Media from Moses Kemibaro on Vimeo

If you can’t see the videos above go here to view

Africa’s digital revolution (video) is a post from Annansi Chronicles - African business and culture trends

African youth and the African brand (presentation)

kofi — Wed, 21 Apr 2010 17:40:04 +0000

A few weeks ago, I was honored to be invited to Harvard University to give a short talk and participate in the Rebranding Africa through the Youth panel as part of their Africa Focus series. The panel was a lively, collaborative one with both panelists and attendees providing perspectives on the topic. As a follow-up, I’ve put together a slide deck of my prep notes and am sharing here. Hopefully, the presentation embedded below will allow those who couldn’t attend the event a chance to join in and continue the conversation here and elsewhere. Feel free to download and share the presentation. You can contact me here or on Twitter (@GKofiAnnan) for further info or to discuss. Thanks to the Harvard team, especially Essie Yamoah and Julia Mensah, for having me up.

The youth and branding Africa

View more presentations from G. Kofi Annan.

If you can’t see the presentation above go here to view

African youth and the African brand (presentation) is a post from Annansi Chronicles - African business and culture trends

42 country, 100 exhibit Africa Pavilion unveiled for 2010 Shanghai World Expo

kofi — Mon, 19 Apr 2010 19:58:35 +0000

50 African nations and the African Union will present their interpretations of the “Better City, Better Life” theme in Shanghai, China at the 2010 Shanghai World Expo running May 1 to October 31. Along with a number of other countries, African governments and businesses will exhibit at the 2010 Shanghai World Expo in efforts to showcase tourism and trade potential. Of the 50 African nations exhibiting, 42 have joined forces to build the Joint-Africa Pavilion, a 22.6 thousand square meters (243,264.38 sq. ft) exhibit hall with individual country exhibition areas and over 100 exhibits from Africa. Located near a main entrance of the expo, construction for the Joint-Africa Pavilion began in August 2008, and is developed in part with investment money from a $100-million fund set up by the organizers of the expo for the over 100 participating developing countries participating. The remaining 8 African countries exhibiting, including South Africa, Egypt and Nigeria, will rent their own separate pavilions.

The Joint African Pavilion consists of exhibitions provided by 42 African countries including Angola, Ethiopia, Cameroon, Zambia, and Sudan. The Pavilion embraces the theme of “The Great Ballad of Africa”. It aims to represent the cultural diversity, solidarity, and the rosy future of the African countries. Welcoming visitors at the entrance of the Pavilion is “Lucy”, a 3-and-a-half million year old fossil of a female hominid. She was discovered in Ethiopia in 1974.” - CCTV

Of the 191 countries participating in the World Expo in Shanghai, most are investing record amounts to build pavilions., Most world governments will be providing the bulk of investment, with heads of state promising to make special appearances. In an effort to solidify Shanghai as a global city, China itself is spending $4.2 billion on transforming the world’s fair to a blowout extravaganza, surpassing it’s recent efforts on producing the Beijing Olympics. “Compared with the Olympics, the expo will have a richer culture,” said Zhu Yonglei, deputy director-general of the Bureau of Shanghai World Expo Coordination. “It will be more interesting.” An extimated 70 million visitors from the public and private sectors, civil society, international organizations and others will attend the Shanghai World Expo, making it the largest World Expo in history.

More images of the Joint-Africa Pavilion available here and here.

Video: Joint African Pavilion unveils design

Video: South Africa at World Expo

If you can’t see the videos above go here to view

42 country, 100 exhibit Africa Pavilion unveiled for 2010 Shanghai World Expo is a post from Annansi Chronicles - African business and culture trends

African contemporary art having a global renaissance (videos)

kofi — Thu, 15 Apr 2010 15:15:18 +0000

CNN’s Inside Africa recently aired a series of features on the growing global demand for contemporary art. View the 3 parts of the feature below.

Part 1

Johannesburg Contemporary Art Fair
The Johannesburg Art Fair recently showcased the works of 400 African contemporary artists, attracting more than 10,000 visitors. – CNN Inside Africa

PART 2

First US-based commercial art auction dedicated solely to contemporary African art
Auction house Bonhams’ recent ‘Africa Now’ auction in New York was first commercial auction dedicated solely to contemporary African art in the United States

Part 3

Ghana’s ancient beads back in vogue
A new generation of Ghanaians are rediscovering their heritage — and rediscovering the appeal of traditional beads – CNN Inside Africa

If you can’t view the videos above go here to watch

African contemporary art having a global renaissance (videos) is a post from Annansi Chronicles - African business and culture trends

ESPN channels Apartheid-era South Africa for 2010 FIFA World Cup ad

kofi — Mon, 12 Apr 2010 15:04:57 +0000

For it’s part in the 2010 FIFA World Cup advertising wars, ESPN is channeling a major part of South Africa’s history: Apartheid. The sports channel is starting it’s World Cup advertising with a Wieden + Kennedy created spot highlighting the importance of football (soccer to Americans) at South Africa’s infamous Robben Island where Nelson Mandela was imprisoned. The commercial is part of a four-part series which will be rolled out over the course of the months before the World Cup start on June 11.

Our goal with this spot is to educate people about the historical significance of the World Cup being played in South Africa. – ESPN Marketing Director Seth Ader

Watch the commercial below and let me know what you think in the comments below.

via Adrants

If you can’t see the video above, go here.

ESPN channels Apartheid-era South Africa for 2010 FIFA World Cup ad is a post from Annansi Chronicles - African business and culture trends

Celebrity colonization of Africa (infographic)

kofi — Fri, 09 Apr 2010 15:29:45 +0000

Much has been said of celebrities taking an interest in Africa. Celebrities like Oprah, Madonna, Brad Pitt and Angelina Jolie, Danny Glover and, of course, Bono, have pusued a wide range of Africa-related causes and initiatives to mixed response here and elsewhere in the media. For their March/April issue Mother Jones magazine has put together a fun interactive map outlining which American celebrities have been most involved in which African countries. The Mother Jones feature also contains a mini timeline of celebrity involvement in Africa. Click on the infographic below to access the full interactive map.

Ego Trips: What can Africa do for you? (via Mother Jones)

“My life changed, really, there.” —Bono

“Totally changed my life.” —Alicia Keys

“It’s changed my life.” —Country singer Michelle Wright

“This trip has changed my life.” —NFL player Reggie Bush

“One of those things which will sort of change your life.” —American Idol‘s Simon Cowell

“It truly was a life-changing experience.” —The OC‘s Mischa Barton

“It was truly a life-changing adventure!” —Disney teen star Selena Gomez

* h/t @kenyanpundit *

Celebrity colonization of Africa (infographic) is a post from Annansi Chronicles - African business and culture trends

NY African Film Festival opens, celebrates World Cup and independent Africa

kofi — Wed, 07 Apr 2010 21:50:17 +0000

The 17th annual New York African Film Festival (NYAFF) has opened on April 7th celebrating the 50th anniversary of 17 African nations’ independence from colonial rule as well as the freedom that the rise in technology has given African filmmakers to tell their own stories. Among the 13 features and 25 short films from emerging and veteran filmmakers from 18 countries are four soccer films in honor of the World Cup’s first games in Africa opening in June 2010, an animated short program, Focus Features’ Africa First short program and an environmental film.

The festival runs from April 7 through the 13th at The Film Society of Lincoln Center and continues at Columbia University’s Institute for African Studies, 3ten Lounge, New Museum and the Brooklyn Academy of Music BAMcinématek with dates in April and May. Some films showing during the festival include The Absence, directed by Mama Keïta (Senegal/France), Eliane de Latour’s narrative film Beyond the Ocean, winner of the Jury Prize at the Festival des Cinéma du Monde 2009, and Wanuri Kahiu’s Pumzi, which I highlighted here before.

Take a look at the full film schedule.

On Saturday, April 10, a panel discussion will also be held where established and aspiring directors and producers will learn how to craft an attention-getting pitch and utilize social networking tools at “Getting Exposure: Securing the Buzz You Need for Your Film.” The panel takes place at The Film Society of Lincoln Center at 1:30 pm, and is part of the film festivals “Independent Africa”.

Panelists will include Jennifer Merin, film journalist with About.com and founder of the Alliance of Women Film Journalists; Misani, culture writer for the Amsterdam News; Paul Burani, social media strategist; and Pam Pickens, digital marketing expert. The event, which is open to the public, will be moderated by veteran entertainment publicist and NYAFF’s public relations consultant Cheryl L. Duncan of Cheryl Duncan & Company Inc.

For panel or film tickets, go to www.filmlinc.com.

NY African Film Festival opens, celebrates World Cup and independent Africa is a post from Annansi Chronicles - African business and culture trends

Notes from Columbia U’s 2010 Africa Economic Forum

kofi — Thu, 01 Apr 2010 18:52:33 +0000

Last week I attended Columbia University’s annual African Economic Forum (AEF). The two-day conference was a diverse and insightful one with discussions ranging from Branding Africa to the growing, sometimes controversial China-Africa relationship. The organizers put together a great program with much discussion during and in-between panels. While I couldn’t attend the full program, I was able to participate in some great discussions with attendees and panelists in the Africa Arena. I’ve provided my notes from the discussions I was able to attend below. My notes cover a mixture of discussion topics and perspectives from the esteemed panelists and attendees. Please keep in mind that the notes below are portions of the hour plus long discussions from my perspective as an attendee. If you have any insight into any of the topics in my notes please feel free to comment. For clarification on any of the points in my notes please shoot me an email.

ATTENDANCE NOTES:
Panel: African Fashion Going Global
Moderator: ZANDILE BLAY, Market Editor, Paper Magazine
Panelists: OLUCHI, Supermodel and the Original Face of Africa; BUSIE MATSIKO, CEO and Co-Founder, Fashion Indie Media; AISHA OBUOBI, Designer & Founder, Christie Brown; MIMI PLANGE, Designer and Founder, Boudoir D’huîtres

Should Africans sell primarily to Africans?
African designers are more torn about designing Africa-inspired clothes vs. other western designers designing Africa-inspired clothes
Western designers are not limited or stigmatized when using African influences in designs
Should there be an African fashion capital? Some panelists say no
Is there a viable African consumer enough to support African fashion industry?
Designers don’t want to get pigeonholed as an ethnic designer; need room for growth
There is very limited support (i.e. factories, retail outlets) for African designers on the continent
Some panelists say African designers should focus on African consumers rather than targeting global consumers first
There is lack of business expertise among designers on the continent
Designers need to partner up with business professionals on the continent
Pricing African designs is tricky
Not too many Africans will pay high prices to support African designers
There are two types of African consumers: 1) those that travel and buy high-end western clothes 2) the locals who can’t afford couture and buy mass
It’s hard to produce on the continent particularly if you’re not doing mass production
Many African designers aspire to go to South Africa fashion week because it’s the top African continent fashion industry
Just like you don’t only have New Yorkers in New York Fashion week, South Africa’s Fashion Week has Africans from all over continent
African designers get inspiration from everywhere just like other designers
Some African designers are more drawn to cultural design than others

Panel: Brand Africa – Defining a Continent
Moderator: LOLA OGUNNAIKE, Entertainment Correspondent, CNN American Morning
Panelists: FEMI AGBAYEWA, Director of Production, Real Livin Films; HELEN JENNINGS, Editor, ARISE Magazine; ROSALIND McLYMONT, Editor-in-Chief, The Network Journal; MARK WALTON, Executive Vice President of Sponsorship and Corporate Development, The Africa Channel

Mostly lazy journalists who cover Africa
Mainstream media is invested in negative African images so corporations can go ahead and extract resources without contest
Many NGO’s benefit from the negative images of Africa
“Born again Africans” in the USA were slow to embrace the Africa Channel
Peace Corp. types were 1st to embrace The Africa Channel
Focus on African stories helps cross-over appeal
Do channels have responsibility for positive Africa images?
We should be focused on Africa telling African stories
African storytellers should also create opportunity to cross-over to other audiences to get money to continue telling African stories
Bollywood didn’t cross-over initially, so African film industry shouldn’t focus on that; should rather nurture African audiences first for revenue
Make films true to the African communities and sell locally, to diaspora, and other interested communities
There was a forum discussion between Bollywood, Nollywood, Nigerian government and other interested parties in Nigeria recently on how to get images out globally
Nollywood movies are not shown on The Africa Channel because of lack of adherence to legal and copyright laws
There doesn’t need to be a single Africa brand leader
Obama is the ultimate African brand
World Cup is a big opportunity for brand Africa to push forward
South Africa has the world’s biggest non-unionized film crew
Do the best within your sphere of influence to further the African brand
Agitate! Africans don’t make themselves known for good or bad
African diaspora don’t usually exercise its influence
Consumers have to own the responsibility to change programming
Africans should video and upload their life stories to show world another view
There needs to be an Ad Council-type entity for African media
The Africa Travel Association and The Corporate Council of Africa have been doing a good job of furthering brand Africa
World Cup is “The Super Bowl” for Africa and should be treated as such
Industries can coordinate branding efforts once it’s solidified
African diaspora media should take leadership responsibility for re-branding Africa
There is need for good local African journalists because big media won’t invest in sending journalists to continent
When business and financial news is positive, big media will always take interest and cover
The Africa Channel is invested in original African produced content
Only four African countries currently spend money with the The Africa Channel
African countries would rather spend money on CNN who will only plop ads into mixed programming without effort

Panel: African Hospitality – The Power Within
Moderator: SCOTT SHUSTER
Panelists: RUMIT MEHTA, CEO, Immersion Journeys; ANDREW MURPHY, CEO, Eco-Ghana; STHU ZUNGU, President, South Africa Tourism

South Africa Tourism did a lot of research to come up with brand ideals
Tourism is as significant to South Africa as gold industry
Bed and Breakfasts are mushrooming ahead of World Cup
Domestic and inter-regional tourism is important for any tourism in Africa
Travel is an investment in local culture
Eco-Ghana trained locals on how to structure tourism
Eco-Ghana is looking for Ghanaian investors
Eco-Ghana is focused on Ghanaian and Nigerian tourists
Company is looking to create first Ghanaian hospitality group
There needs to be infrastructure to enable diverse tourism destinations within African countries
With local travel comes promotion and dispelling myths
Wealthy Africans traveling within Africa can experience and communicate good brand images of continent to others
Infrastructure in domestic tourism needs to be established
Need education among Africans to bolster pride and ownership
Branding Africa tourism comes down to which countries have the most money to do so on behalf of particular regions/areas

Summit: China – Africa Trade and Investment
Moderator: DR. HARRY BROADMAN, Senior Vice President, Albright Stonebridge Group LLC & Chief Economist, Albright Capital Management LLC
Panelists: JIAN-YE WANG, Chief Economist, China Export-Import Bank; REMI BELLO, Founder & Head of Research, B&M Consulting; ABIODUN (ABI) ADISA, Founder, Oridun Capital; DR. TOM DORSEY, Chief of the Strategy, Policy and Review Department, International Monetary Fund

South-South trade and investment is a global trend not just between Africa and China
How can Africa exploit Chinese investment?
Panelist Bello forecasted higher growth potential of African commodities in 2010 due to BRIC interest
In the past, Africa was affected by world economy decline, but today Africa continues to grow despite of it
South-South trade will take up more of world trade in next couple of years
Africa’s problem is investing too low; African governments invest too conservatively in infrastructure
Africa should look at China as a market; China is still growing
China needs local African partners to invest
Chinese provide finance and have influence with African governments
Chinese best practices are driven by local standards; they have a range of competencies
Poverty data is expensive and lacking in Africa
Better macroeconomic and other policies is helping sustainable growth
Many Africa deals are not documented widely
IMF published book “Building Bridges”
Many drawbacks of Chinese aid to Africa
Chinese aid is in form of loans not grants
Aid is below market rates
Aid is tied to procurement of Chinese goods
Countries should keep an eye on debt sustainability: ability for project to pay for itself
90% of Foreign Direct Investment in Africa is still USA and EU based
Africa governments should make sure production is done in country to take advantage
Chinese are looking to set up local factories in Africa to alleviate manufacturing cost to China
Management of public finances are Chinese strong point
If Africa doesn’t invest in Africa then don’t expect others to
Africa can learn from China’s growth
China started from agriculture and so should African countries
Chinese invested in infrastructure, human capital, and primary education to spur domestic growth
Africa should invest in government processes and cutting red tape; less bureaucracy
African countries should trade with other emerging countries and within the continent
If African countries are going to borrow Chinese money, they should pay attention to how the money is spent
Africa needs independent cost/benefit analysis to make sure project loans are viable
Cleaning up bureaucracy will move projects forward faster
Africa governments should set up laws to make sure Chinese projects are using locals and track reporting of such practices
African Union should create Chinese production standard with reporting and tracking guidelines
African Union should monitor and regulate standards and quality
African governments need to strengthen regulations and consumer protection laws
African governments should pay attention to environmental effects; learn from China’s mistakes
African governments are still too closed to open investment and transparency; maybe because they are scared of past mishandling of public monies

For more about the conference please visit the 7th Annual African Economic Forum (AEF) at Columbia University website.

Notes from Columbia U’s 2010 Africa Economic Forum is a post from Annansi Chronicles - African business and culture trends

Africans on Forbes 2010 World’s Billionaires list

kofi — Fri, 12 Mar 2010 17:45:09 +0000

Forbes Magazine has compiled and published it’s annual list of the world’s billionaires. The 2010 World’s Billionaires list represents “billionaires with publicly traded fortunes, net worths…calculated using share prices and exchange rates from February 12, 2010″. Of the 937 people named to the list, there are 8 African country citizens who made the list. Of the 8 Africans, the individual net worths range from $1.5 to $5.9 billion. with Egyptian nationals maintaining the biggest presence with 4 individuals from same family listed. Here are the Africans on the 2010 Forbes World’s Billionaires list according to rank:

#127 Nassef Sawiris

Net Worth: $5.9 bil

Fortune: Inherited and Growing

Source: construction

Age: 48

Country Of Citizenship: Egypt

Residence: Cairo

#154 Nicky Oppenheimer & family

Net Worth: $5.0 bil

Fortune: Inherited

Source: De Beers

Age: 64

Country Of Citizenship: South Africa

Residence: Johannesburg

#307 Onsi Sawiris

Net Worth: $3.1 bil

Fortune: Self Made

Source: construction

Age: 80

Country Of Citizenship: Egypt

Residence: Cairo

#374 Naguib Sawiris

Net Worth: $2.5 bil

Fortune: Inherited and Growing

Source: telecom

Age: 55

Country Of Citizenship: Egypt

Residence: Cairo

#421 Patrice Motsepe

Net Worth:$2.3 bil

Fortune: Self Made

Source: mining

Age: 48

Country Of Citizenship: South Africa

Residence: Johannesburg

#421 Johann Rupert & family

Net Worth: $2.3 bil

Fortune: Inherited and Growing

Source: luxury goods

Age: 59

Country Of Citizenship: South Africa

Residence: Stellenbosch

#463 Aliko Dangote

Net Worth: $2.1 bil

Fortune: Inherited and Growing

Source: sugar, flour, cement

Age: 52

Country Of Citizenship: Nigeria

Residence: Lagos

#655 Samih Sawiris

Net Worth: $1.5 bil

Fortune: Inherited and Growing

Source: hotels

Age: 53

Country Of Citizenship: Egypt

Residence: Cairo

Africans on Forbes 2010 World’s Billionaires list is a post from Annansi Chronicles - African business and culture trends

K’Naan launches Coca-Cola World Cup campaign

kofi — Tue, 23 Feb 2010 18:30:06 +0000

Somalian-born, Canadian-based hip-hop artist K’Naan has specially recorded a version of the song “Wavin’ Flag”, originally featured on his 2009 album Troubadour, for the Coca Cola sponsored 2010 FIFA World Cup tournament, hosted by South Africa. The remix, “Wavin’ Flag (The Celebration Mix)”, will be part of Coke’s global integrated marketing campaign rolling out in over 150 countries this summer. The track will be used as the main music element throughout the entire campaign including as the soundtrack on all TV commercials, played at FIFA World Cup Trophy Tour by Coca-Cola events, featured on the online digital platform and more.

The campaign developed to support (Coke’s) sponsorship of the landmark sporting event is an extension of the current Coca-Cola brand platform “Open Happiness. (It) invites fans to express their optimism and passion for football through active dance celebrations.

Video: K’Naan World Cup Coke commercial featuring Spanish pop singer David Bisbal

Video: Coke FIFA World Cup Trophy Tour multimedia booth

If you can’t see the videos above click here

K’Naan launches Coca-Cola World Cup campaign is a post from Annansi Chronicles - African business and culture trends

S. Africa Tourism launches URL shortener for World Cup marketing

kofi — Fri, 19 Feb 2010 19:02:48 +0000

As part of the marketing around the upcoming 2010 FIFA World Cup, the South African Tourism authority has launched a new branded url shortening service at http://mzan.si. Developed for the government agency by Quirk eMarketing, the Mzan.si service is so named for the word Mzansi (m-zun-zee), a popular word used to refer to South Africa. The marketing effort is an attempt to brand South Africa as “a country teeming with exquisite sights, natural splendours, adventure attractions and culture”.

Because URL shorteners are easier to remember, faster to type and less likely to break when they are shared, this shortening craze might just become a new kind of language for all internet users….Not only is http://mzan.si designed to shorten long cumbersome URLs, but it also allows South African Tourism to market South Africa as a destination through unobtrusive, geo-targeted advertising within the shortener itself. All URLs that have been shortened using the http://mzan.si will start with mzan.si making them instantly recognisable. The objective of the URL shortener is to reach people in an alternative way to educate and entice them into visiting South Africa hence the name msansi which means South Africa. It is also aimed at enabling all South African’s to ‘fly the flag’ and acknowledge their homeland online with every link they create.

More info here

S. Africa Tourism launches URL shortener for World Cup marketing is a post from Annansi Chronicles - African business and culture trends

Kenya’s first Sci-Fi film hits Sundance

kofi — Wed, 03 Feb 2010 20:57:41 +0000

Made by writer/director Wanuri Kahiu, Kenya’s first science fiction film to hit Sundance, Pumzi, takes place “thirty-five years after World War III, the “Water War,” and tells the story of a woman from East Africa who flees an enclosed community in hopes of once again restoring life outside its walls. The film which screened last month at the Sundance Film Festival was made with grant money from Focus Features’ Africa First short film program, the Goethe Institut, and the Changamoto arts fund, and was part of the festival’s New African Cinema program.

Like recent standouts District 9 and Sleep Dealer, the short film taps into Third World realities and spins them forward for dramatic effect. But to produce Pumzi, Kahiu looked to the past, as well as the future. She researched classic 1950s films to create her movie’s futuristic sets, comparing the processes of matte painting and rear-screen projection with indigenous African artwork. “We already have a tradition of tapestries and functional art and things like that, that loan a backdrop for films,” Kahiu said.

via Underwire

With Focus Features’ Ditrict 9 now considered a global box office success and it’s recent Academy Award nomination, look out for more funding to be injected into Africa-inspired films. As Ms. Kahiu proves, the whole continent – not just South Africa – has endless stories to tell and Africans are dreaming up creative ways to tell them.

Watch the Pumzi trailer below:

If you can’t see the video above click here

Kenya’s first Sci-Fi film hits Sundance is a post from Annansi Chronicles - African business and culture trends

Video: “Warm Heart of Africa” The Very Best ft Ezra Koenig

Kofi — Thu, 28 Jan 2010 22:40:33 +0000

If you haven’t already heard of the group The Very Best, here’s your introduction. Made up of British production duo Radioclit and Malawian singer Esau Mwamwaya, the group’s October 2009 release “Warm Heart of Africa” features guest appearances from M.I.A. and Vampire Weekend’s Ezra Koenig and is a must listen. Singer Esau Mwamwaya who sings in Chichewa, Swahili, Portuguese, and English on the album is one to watch for 2010.

via highsnobiety

Video: “Warm Heart of Africa” The Very Best ft Ezra Koenig is a post from Annansi Chronicles - African business and culture trends

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