Africa - The New Frontier (Part 1)

Yes... Africa gets a bad rep... and often well deserved but there are interesting & positive developments on the continent...

Piracy
Not a good sign but at least it has united the Russians, Ukrainians and Americans... who all want to make sure the pirates don't win out. My solution is simple... BOMB the somalis back to the middle ages... no, even further back... make the coast of somalia a no-sailing zone for anyone who is somali (or even looks like a somali)...

Uganda
Uganda is making efforts to ensure the oil wealth is not wasted or skimmed off like the nigerians do... I do not expect it to be perfect after all theft in Africa seems ingrained among most politicians... but at least they could do much better than the nigerians.

Uganda's other mineral resources are attracting attention again. I hope they manage them well.

Of course... Uganda is also becoming the transit point for goods to Sudan, Congo and Rwanda...

And Uganda has 4 telecom players while Kenya has only 3. What's more... Uganda is set to have 2 more... HITS and I-Tel.

The same goes for Ghana who have an election this year... who have oil as well as being a transit point was many W.African countries.

Rwanda & Congo
Rwanda and Congo have a love-hate affair that started when the then Zairean government supported the Hutus against the Tutsis. As is eastern Congo has a strong Tutsi influence. Paul Kagame (prez of Rwanda & a Tutsi) and Laurent Nkunda (a Tutsi general who heads the 'rebels' in eastern Congo) have a dream of 'greater Rwanda' that is Tutsi dominated. After the Hutus massacred over 1 million Tutsis... one can't blame the Tutsis in securing the borders.

That said... there is huge potential in Congo and Rwanda will become a powerhouse if it annexes eastern Congo. Furthermore, the discipline that Kagame exhibits will make Rwanda the pride of Africa. If only they had a seaport... like Singapore.

BTW, Zain is looking at setting up shop in Rwanda. I definitely support the move. And it seems that Zain will put in decent infrastructure as Rwanda wants to become an ICT hub.

Ecobank Rights & New Issue
Ecobank got hit by the financial turmoil & had to extend the Offer to 31 Oct 2008. I hope they can collect the cash they need but poor luck with the timing. I think they should have dual-listed in Kenya as well since they bought 75% of EABS. As is they are listed on the Nigerian Stock Exchange, Ghana Stock Exchange & BVRM.

gaddafi
Of course... what would Africa without the crazies? So gaddafi wants to be the king of kings?