Politics vs. Public Service

As I watch the coverage of Senator Ted Kennedy's passing and burial, I hear the recurring theme of public service and I ask myself what public service really is and if our leaders are really public servants.

My immediate thoughts are that public servants are a rare and few breed, if you will. When I think of public servants, I think of selfless individuals that are stewards of policy and services for the everyday person in their constituencies.

We often confuse politicians for public servants. I haven't looked this up in Wikipedia or Websters either, but when I think of politics, I think of the art of getting elected and staying in office - I'm referring to elective office. Quite a contrast, yet we often confuse the two with being synonymous, not to mention politicians would like us to view them as public servants.

It's quite possible that the "Politicians Curse" is the biggest contributor to failed and non-progressive states in Africa as well as states that lack transparency. We need more public servants in Africa. A new breed of elected officials that work in the interest of the people and not themselves.

Now that Kenyan politicians are some of the highest paid public officials in the world, there is a 1000% plus increase in people seeking public office. Where were all these people when a Member of Parliament's salary was not much more than a lower middle class citizen in that society.

The other side of the story is the short sightedness by citizenry who allow their votes to be bought. Something that is quite common in many African countries. I guess you can't necessarily blame individuals who live a subsistence life and are concerned where their next $ will come from. It also doesn't help that there is often a lack of good candidate choices to tackle issues that affect them. Unfortunately, It only perpetuates a dangerous cycle and needs to be tackled by progressive politicians seeking office.

I have to admit that I contemplated running for office at one time, but it didn't take long for me to change my mind, when I realized that the art of politics could take me to places I cannot go in good conscience. It was a game I was and am not willing to play right now. Support for capable and progressive individuals is where I'll put my energy.

I hope the art of politics doesn't scare away qualified and progressive candidates that could help change the fortunes of so many African countries and fast forward the entry of some very capable economies into the global marketplace.

It's not enough to say Africa needs public servants like Sen. Ted Kennedy to fight for issues that affect everyday people, but people need to learn to discern between a politician and a public servant when going to the ballot boxes. There is a difference and the outcome will likely affect peoples lives beyond their grand children's generation.

New 'Africa Trade Caucus' Preparing for first trip to Africa

After a long Hiatus, I am back. A couple weeks ago africabusinesssource.com published my interview with Congressman Bobby Rush, who has started a new 'Africa Trade Caucus' in the US Congress. After hearing from Congressman Rush and his lead staffer on this initiative, Angelle Kwemo, I'm convinced that unlike other Caucuses, there are some teeth to this Caucus. Please do read the 3 page interview when you get a chance.

As a follow up, I was invitied to a small working pre-departure breakfast discussion on the August 2009 CODEL to 4 African countries - Liberia, ghana, Amgola and South Africa. More evidence that these members of congress are serious about facilitating more trade between Africa and the US.

The large Congressional delegation plans to evaluate current policies regarding trade, commerce and investment in Africa and to strengthen U.S. - Africa Cooperation on trade and investment. The breakfast was an opportunity for participating Members of Congress to recieve meaningful input from key governement, private sector and NGO representatives on the current economic and political climate in the region as preperations are finalized for the delegation.

Speakers included Amb. Johnnie Carson, Assistant Secretary for African Affairs, Diane farrell, Director, Export-Import Bank of the United State; Maurice Tempelsman, Chairman of Lazare Kaplan International; Steve Morrison, Sr. VP at CSIS as well as the crowd favorite, former NFL football player and Director of Global Private Client Group.

There was a lot discussed in this 2 hour period, but a few things jumped out at me:

• Food Security was mentioned several times by multiple speakers as being the number one priority for many African countries and US Aid policy. The Members were informed that the issue of Agricultural Subsidies will come up.


• China's growing influence in Africa was played up and down by several speakers. Worth noting was the mention of China's comparitive Advantage in providing very long term loans to African countries and businesses.


• They were briefed on Secretary Clinton's trip to 7 countries in 11 days and the significance of each stop.


• They were informed of a strong 'partnership' approach and provided with the example of Angola's government who were more open to wide spread discussions due to this approach

These were just a few of the points I noted during the briefing. We'll report on the progress of the trip this month on Africa business Source. Stay Tuned

African Business Portal Coming Soon...

Checking the numbers yesterday, I was suprised to see that more than 600 people read this blog last month. I thought there were just 4 of us reading it. Seeing that number obviously made me realize that I'd better publish more regularly to keep you coming back. Well the exact opposite is going to happen.

We're getting ready to launch a new portal under the Diaspora Interactive Media umbrella, and it wouldn't make sense for me to stretch myself thin, so I've decided to come back at least once a month and post to this blog, but for the most part, you can catch me at the new spot.

I'll publish a post as soon as we launch and who knows maybe even give readers of this blog a sneak preview before we launch.

In the meantime if you're interested in contributing to the new site or would like to be profiled feel free to send me a note to info@dimcorporation.com or if you just want to be notified when we launch, give us your information at http://www.africabusinesswire.com/

Investors lose N343bn on NSE

I'm shamelessly reposting the latest update on the NSE from Vanguard. That is the Nigerian Stock Exchange and not the Nairobi Stock Exchange. Things seem to still be in free fall in that market. Time to sell the kids Ferrari's and Bentley's. Buy them new ones when the price of oil goes back up. Just a little humor, hope no one takes offense. Heres an update from the Vanguard newspaper in Nigeria on recent trading.

The bearish trend in the capital market continued last week, as investors lost N343.36 billion on the Nigerian Stock Exchange (NSE) due to decline in the prices of quoted securities

Particularly, investors’ woes were heightened by massive losses on the share prices of majority of the listed equities, which deflated the market capitalisation by 4.49 per cent. The capitalisation which opened the week at N7.645 trillion dropped by N343.36 billion to close at N7.305 trillion.

Another market indicator, the All-Share Index, also dropped by 4.72 per cent to close at 33,025.75 points from 34,660.65 points at which it opened the week.

Oando Plc recorded the highest share price loss, in the week under review, dropping by N17.96 to close at N78.99 per share, Total Nigeria Plc followed with a loss of N15.87 to close at N225.69 per share and Flour Mills Nigeria Plc dipped by N4.20 to close at N42.75 per share.

Other share price losers include: Nigerian Bottling Company Plc, N3.88; PZ Cussons Nigeria Plc, N3.85; Benue Cement Company Plc, N3.70; Zenith Bank Plc, N3.27; Ashaka Cement Plc, N2.74; Afribank Nigeria Plc, N2.71; Northern Nigeria Flour Mills Plc, N2.59 among others.

On the contrary, Costain (West Africa) Plc recorded the highest share price gain, rising by N1.68 to close at N15.68 per share, Lafarge Cement WAPCO Plc followed with a gain of N0.86 to close at N26.00 per share and First Inland Bank Plc recorded N0.83 to close at N5.96 per share.

Other share price gainers include: Glaxo SmithKline Consumer Plc, N0.83; United Bank for Africa Plc, N0.76; Oceanic Bank International Plc, N0.66; Stanbic IBTC Bank Plc, N0.55; May & Baker Nigeria Plc, N0.45; Guinness Nigeria Plc, N0.07; GTBank Plc, N0.37, among others.

Equity trading, in the week under review, depreciated by 25.31 per cent as a turnover of 1.8 billion shares valued at N13.56 billion was recorded 44,762 deals in contrast to penultimate week’s turnover of 2.41 billion shares valued at N21 billion in 51,198 deals.

The Banking sub-sector dominated the other sub-sectors, accounting for 62.22 per cent of the market turnover with 1.12 billion shares valued at N10.47 billion in 27,393 deals.

Spring Bank Plc recorded the highest patronage in the sub-sector, trading 192.1 million shares valued at N1.07 billion in 463 deals, followed by First City Monument Bank Plc with the exchange of 149.38 million shares valued at N856.95 million in 945 deals and Diamond Bank Plc recorded 127.45 million shares valued at N1.01 billion in 640 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 19.44 per cent of the market turnover with 347 million shares valued at N545.83 million in 3,988 deals.

Investment and Allied Assurance Plc recorded the highest patronage in the sub-sector, trading 133.37 million shares valued at N66.68 million in 321 deals, followed by Equity Assurance Plc with a turnover of 35.34 million shares valued at N178.8 million in 32 deals and Mutual Benefits Assurance Plc recorded 31.34 million shares valued at N55.9 million in 268 deals.

Original post at: Vanguard

Kenya's BPO Leaders Sprinting to the Finish

I have several posts on here about the Kenya BPO industry and have even spoken to some of the individuals profiled in this video. I have to say there is a degree of pride that comes from watching this video and seeing evidence of the efforts that are being made to ensure Kenya is a leading BPO industry leader. There is talk of a 10 year tax moratorium, cheap access to broadband, improved connectivity and infrastructure and a trained labor force that could put Kenya over the top. God speed to the team managing these efforts on behalf of the Government of Kenya.

Africa Entrepreneurship Platform New York Event

The Africa platform works to create partnerships between the US and Africa to explore Ideas between entrepreneurs and investors. The focus seems to be on South Africa, but its a start for all of Africa. Enjoy the excerpts from African and US business leaders who spoke at the event. My favorite is filmaker Carol Pineaus comment that, 'if you really want to make money, go where noone else is looking." While that's not entirely true, it makes simple sense for investors looking for the next big thing.

Check out the video....and log on to YouTube to see the complete versions of each participants speech. Also a special congratulations to Mr. Naidoo...You're doing an amazing job showcasing Africa's potential to people who can really invest capitol in the continent.

Investing in Gorongosa

60 Minutes, A very popular American Investigative news show, just profiled Greg Carr, a former IT entrepreneur that was largely responsible for the creation of voicemail. Howeverm, the 60 mintues piece was solely about the work that Greg Carr is doing in Mozambique using $40 million dollars of his own money.

Carr has made one of the largest individual commitments in the history of conservation in Africa. He's going to restore Gorongosa National Park, which is a National Park in Mozambique that was once reknowned as one of the most beautiful game parks in Africa. He has pledged as much as $40 million over 30 years, an almost unheard-of time frame in a field where most donors—governments and nonprofit organizations alike—make grants for four or five years at most.

He also is spearheading one of the largest animal reintroduction efforts on the continent and hopes to answer one of the most debated questions in conservation today: how to boost development without destroying the environment.

This is a noble, yet risky undertaking. His efforts could transform the lives of people living in that region of Mozambique and help boost the countries revenues from tourism. It doesnt hurt that his story is getting around and should be the recipient of at the very least curious tourists and other philantropic contribution.

I imagine the tourism industry in Southern Africa is paying keen attention to this project as are conservationists around the world.