John Magufuli’s recent moves to restrict work permits for foreigners, not only worries the expat crowd, but effects will be far reaching. An American business owner had to put the business she built over five years by herself in her husbands name and can only run it from her living room as spousal visas don’t allow for work permits. The American Chamber of Business is holding special info evenings to explain the planned regime to their members and struggle to mitigate the negative message the move sends to potential investors.
Gold that will later decorate the necks of Indian brides, be displayed in a Turkish souk or stored in the vaults of central banks first has to be scrapped from the belly of the Earth, often in devastating conditions around the world.
Given the volatility of gold prices and the general depression of metal prices many large mining companies lack the spirit and financial muscle to engage in new gold ventures. Countries around the world feel the pinch and increasingly turn to their home grown artisanal mining sector to make up for the shortfall. This could be a welcome shift from many countries obsession with mega projects back to their own mining force.
Oftentimes large mines operate as enclave industries with very weak links to the rest of the economy, although their environmental and social impact on the surrounding communities can be dramatic. Read More
Bowing to mounting political pressures it appears that Tanzania has halted its constitutional review process until after the General Elections in 2015.
President Kikwete and others have recognised that the time to accomplish the momentous task before he leaves office won’t be sufficient.
John Cheyo, chairman of the Tanzania Centre for Democracy (TCD), announced the suspension after a meeting with President Jakaya Kikwete at Kilimani State Lodge on Monday afternoon, Mr Cheyo said those present agreed unanimously that the exercise be called off on the grounds that it was unlikely to deliver on the promise.
A suspension of the process and the meetings of the Constiutional Assembly would save taxpayers money given the fact that a new constitution can only be passed after October 2015. Thus far the assembly has not recognised this logic and proceeds with business as usual.
Starting in 2012 the review process gathered a broad range of views including those of the youth, civil society and for once even pastoralists, Masaai, Barbaig and others came together to present their views on democracy and the future of Tanzania.
Inefficiency, arguments and delays have characterised the process ever since. After all the new constitution was suppose to be announced at Tanzania’s 50th anniversary in April. The failure to deliver on his promise to give the country a new – modern – constitution will be a further blow to the outgoing President’s legacy.
Only time can tell whether the incumbent will steam ahead with the endeavour and pick up where Kikwete left off or whether Tanzania – once again – leaves the job half done.
“You have to be really well tempered to put up with the things that happen here. It’s not good men but supermen that are needed.”
“In reality, the thought of remaining in the Congo continued to haunt me long into the night, and perhaps I did not so much take the decision as become one fugitive more.”
Che Guevarra to Fidel Castro in 1965.
2013 did not end well for Congo Kinshasa. A group of armed youth attacked the airport. They were quickly overpowered by the Congolese army, but the incident left a bitter taste in the country that otherwise had a relatively good year.
On November 5th Congo defeated the M23 rebel group, one of the main rebel groups in the East that murdered its way across the Kivus, drove 800,000 people from their homes and continued to destabilize the region. During my last visit in Congo the mood was upbeat.
After years of delays, Guinea’s first legislative elections since the 2008 coup have gone relatively smoothly. But the hardest task is yet to come. This Saturday, an estimated five million Guineans cast their ballots to choose a new parliament in the nation’s first legislative elections since a 2008 coup. There were reports of missing voting cards, shortages of indelible ink, and polling stations opening late. Many waited for hours to vote, but amidst high security, proceedings remained calm. The independent national electoral commission (CENI by its French acronym) congratulated Guineans for the peaceful conduct of the process, while the Economic Community of West African States observer mission said they believed the elections “were held in acceptable conditions of freedom and transparency”. Read More
The difficulties for SMEs in Africa and the rest of the world in accessing finance have been well documented. The causes are equally well known: First, traditional bank financing (secured or cash-flow based) is often not available due to the lack of adequate collateral or the opaque modus operandi of many SMEs as well as access barriers due to the often rural base of SMEs. Furthermore, African financial markets are not sufficiently well developed to facilitate traditional private equity (PE) financing of SMEs. If those constraints can be overcome, Private Equity can offer a much needed stimulus to SME finance. Private Equity targets established high-end small to medium sized companies and are believed to offer trickle down effects to a much larger sector of the economy and create employment.
"A crumbling reminder of Bagamoyo’s past" - Sarah Markes celebrating the cultural and architectural heritage of Tanzania's oldest capital. A sleepy coastal town that captured me for so long. Click here for photos.