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I write about emerging and frontier markets in Asia. I now primarily contribute work to Forbes Asia. My most recent work and my complete bio can be found on Forbes Asia's site: If it is easier, you can find my recent work sorted by country on this... More
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  • East & Sub-Saharan Africa Investing Blog 300 comments
    Dec 23, 2012 12:53 PM | about stocks: AFK, FM, FRN

    This blog is nascent. I don't know when I'll travel to East Africa, though I have been in the past to Kenya, Tanzania, & Mozambique.

    I've also been to South Africa, Zimbabwe & Zambia.

    Matthew Wood of Garrison Capital has mentioned he has an oil & gas project going in Madagascar.

    Namibia is supposed to have a bright outlook.

    I don't know much investing about these regions.

    Who does?

    Jan Schalkwijk (Africa)

    Ryan Hoover (Africa) (good investor bible of Sub-Saharan mutual funds and ETFs by Ryan here, as noted by Schumpeter_1)

    Investing Africa (Ryan Hoover's off-site blog) (free)

    Mutale Mubanga (Africa; based in Zambia)

    Kenyan Investor

    Evaluate Energy wrote this good article about Namibia

    John Polomny has investments there

    Harris Kupperman (on Seeking Alpha) and of the free blog Adventures In Capitalism has spent time there and blogged about it (Mozambique, Zimbabwe, Namibia, etc - go to the site and look it up)

    A high quality reader inspired me to start this blog with an e-mail which said:

    "If you might be interested in creating an East African blog sometime in the future, I can share some interesting ideas I've read about Kenya in particular. Here is a sample.
    An African City Has The Fastest-Growing Luxury Real Estate Prices On The Planet
    The main investment thesis for East Africa includes:
    1. It has a great deal of natural resources, especially oil and gas, many of them have been recently discovered.
    2. It is on that side of the continent facing the teeming millions in India and China.
    3. The northern reaches of East Africa are not that far away from the main trans- global shipping lanes which the Somali pirates are trying to interfere with in vain.
    4. The United States is increasing its involvement in the region.
    Lord's Resistance Army Disarmament and Northern Uganda Recovery Act
    By East Africa, I mean that swath of territory encompassing Uganda, South Sudan, Ethiopia, Djibouti and Puntland in the north extending southward to include Mozambique and Madagascar."

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  • It seems to be time for we in the West to update our thinking about SubSaharan Africa in the general sense.
    SubSaharan Africa is becoming more businesslike.
    SubSaharan Africa is using technological advances to enable prosperity.
    SubSaharan Africa's coasts will probably receive the most investment flows given their global positions. The western coasts face European and American business centers. The eastern coasts face the teeming markets of India and China.
    16 Dec 2012, 06:30 PM Reply Like
  • Here is a fresh analysis of Sub- Saharan Africa.
    28 Dec 2012, 01:22 PM Reply Like
  • One way to investigate any of the African countries is to check with our State Department. They have background information regarding the overall economic and political health of each country from their point of view.
    28 Dec 2012, 01:26 PM Reply Like
  • There are more foreign investors a more favorable look at Sub- Saharan Africa despite numerous problems.
    28 Dec 2012, 01:54 PM Reply Like
  • China invests heavily in Africa for its raw materials.
    28 Dec 2012, 01:58 PM Reply Like
  • Here are some perspectives about Sub- Saharan Africa having a happier new year in 2013.
    31 Dec 2012, 08:43 PM Reply Like
  • Sub- Saharan Africa is attracting a redeployment of Arabian oil profits.
    2 Jan 2013, 11:01 PM Reply Like
  • Stanford University has a compilation of Sub- Saharan business news sources.
    2 Jan 2013, 11:19 PM Reply Like
  • Brazil and Sub- Saharan Africa are gradually increasing their commercial links across the Atlantic.
    3 Jan 2013, 12:11 AM Reply Like
  • New cogeneration energy projects are being built across the continent.
    3 Jan 2013, 12:02 PM Reply Like
  • India is increasing its investment efforts in Africa. India contributes technological skill, Africa offers access to raw materials, basically for now, but as time goes on, they will trade finished goods with each other.
    3 Jan 2013, 12:10 PM Reply Like
  • About a third of Africa's trade is with their former European colonial partners. The Europeans are keen on keeping their market share with the Africans if they can. They will probably have to offer more favorable trade deals to the Africans for the foreseeable future.
    3 Jan 2013, 12:25 PM Reply Like
  • There is an global index of global economic competitiveness by country. African rankings are examined at this link.
    A surprise showing was made by Rwanda, an inland country soon to be connected to the ocean by a new railroad.
    6 Jan 2013, 04:59 PM Reply Like
  • A list of the most capitalized stocks for Sub- Saharan Africa has recently been tabulated.
    6 Jan 2013, 05:47 PM Reply Like
  • A large collection of mining companies working in Africa appear in this Mining Indaba trade show listing of exhibitors.;alpha=@
    MineAfrica also has an enormous amount of information on the African mining scene.
    7 Jan 2013, 07:29 PM Reply Like
  • The Sub- Saharan banking sector is an important participant in Sub- Saharan Africa's economic resurgence. They are telling the world about Africa's potential and actual financial performance with explanatory articles and statistics.
    9 Jan 2013, 01:35 PM Reply Like
  • The African Export-Import Bank facilitates many of the trading transactions taking place between African countries and beyond to the other continents. Some of the trading relationships can be studied from reading their reports.
    9 Jan 2013, 01:48 PM Reply Like
  • Uranium is usually sought after from the nations with nuclear power plants in a steady way. There has been a price reduction for this commodity since the Japanese disaster a couple of years ago.
    Sub- Saharan Africa can potentially supply much of the uranium the world needs. Niger is the country in the region most noted for its uranium supplies.
    11 Jan 2013, 12:10 AM Reply Like
  • Africa has a lot of comings and goings at its ports. One can get a sense of Africa's maritime activity by checking in on this link.
    11 Jan 2013, 04:10 PM Reply Like
  • Common themes on Sub- Saharan Africa's problems, potential and progress can be determined by viewing the agendas and issues at various regional summit meetings between the countries.
    11 Jan 2013, 09:19 PM Reply Like
  • America's economic involvement with Sub- Saharan Africa has steadily increased over the past decades. Much of it consisted of direct aid and assistance through various organizations and agencies.
    Trading increased more substantially after the passage of the African Growth and Opportunity Act of 2000. The act gave more impetus to more direct trading initiatives and high level discussions.
    Some of the trade meetings are reverse trade missions whereby American experts explain industrial and commercial processes to visiting African delegations in the United States.
    12 Jan 2013, 05:26 PM Reply Like
  • The view on Sub- Sahara Africa from The White House:
    12 Jan 2013, 07:43 PM Reply Like
  • The American trade and investment framework agreements have encouraged business development in Africa with both Americans and Africans profiting from the diplomatic arrangements.
    Partly in consequence, a number of forums for business networking opportunities have proliferated, probably too many to mention. Here is a sampling:
    Here is an excellent source for keeping track of the various organizations and their respective events:
    12 Jan 2013, 09:26 PM Reply Like
  • Korea is increasing its trading interests in Sub- Saharan Africa. Korea is primarily concerned about acquiring raw materials because they are short of those. Africa gains Korean technical knowledge and products.
    12 Jan 2013, 10:12 PM Reply Like
  • Many of Africa's development news stories can be followed at the African Development Bank Group.
    13 Jan 2013, 12:55 PM Reply Like
  • Africa is looking forward to a greater rate of development in the near future while dealing with the old frustrations and some new ones.
    There are quite a number of institutional reports on Africa's progress. Here are some examples:
    13 Jan 2013, 01:30 PM Reply Like
  • Turkey has been making inroads into the African investment scene for the past several years.
    Business between Turkey and Africa is solidified by a series of conferences and country partnerships.
    13 Jan 2013, 05:59 PM Reply Like
  • There are conflicting reports about the durability of iron ore prices coming out of a recessionary period. Chinese demand is the main demand factor with booms and busts. Supplies will probably increase from Africa and other iron ore rich regions. The African iron ore scene can be detailed at these links.
    South Africa is the country with the most iron ore in Sub- Saharan Africa.
    14 Jan 2013, 01:23 AM Reply Like
  • Nickel is mostly viewed to be in a rough balance between supply and demand across the globe. Sub- Saharan Africa is a promising region to look for new supplies of nickel. South Africa is the largest producer in the region. Botswana and Madagascar also have generous supplies of nickel.
    15 Jan 2013, 04:58 PM Reply Like
  • Africa has a rich bedrock geology, basically formed into cratons and orogens like the rest of the world. Africa can count on its rich geology as a basis of support for its mining industry for many decades to come.
    15 Jan 2013, 06:37 PM Reply Like
  • One key to future Sub- Saharan prosperity will have to be the reduction of disease prevalence across Africa. New hospitals and clinics have to be built. More doctors and nurses need to be available for the patient load. Sanitary projects need to be constructed. The modern communication technologies will foster more health education among the populace as time goes by.
    Some progress on improving health is being made here and there but the news indicates any progress is not easy to come by.
    20 Jan 2013, 09:05 PM Reply Like
  • Promoting economic diversification, building critical infrastructure projects and developing human talent for Sub- Saharan Africa are the prime topics for discussion amongst top regional business leaders.
    21 Jan 2013, 12:14 AM Reply Like
  • African business progress will require increased managerial talent.
    21 Jan 2013, 02:42 PM Reply Like
  • More managerial talent will oversee improvements in finance, technological innovation, infrastructure, trading networks and economic growth.
    24 Jan 2013, 06:07 PM Reply Like
  • The African Renaissance is gaining more attention, discussion and analysis.
    This economic phenomenon is being looked at by the U.S. Congress, the Senate Subcommittee on African Affairs and the Congressional Black Caucus Foundation in particular.
    26 Jan 2013, 03:17 PM Reply Like
  • More books are being published about the African Renaissance. A search using that term for books and periodicals will bring up dozens of examples.
    26 Jan 2013, 03:21 PM Reply Like
  • Australia is another country taking more of an interest in Sub- Saharan Africa. Australia's trade with the continent is growing. Many African students are in Australia gaining technical and practical knowledge to help their countries. Mineral rich Australia is an important participant in the Sub- Saharan mining industry. Since Australia is not particularly oil rich, any oil obtained from the Sub- Saharan countries is important to them.
    26 Jan 2013, 09:11 PM Reply Like
  • The economic renaissance is gaining strength with more international trade, investment and financing.
    27 Jan 2013, 12:06 PM Reply Like
  • With Sub- Saharan Africa reaching for success, the United States is now able to increase its exports to the region.
    27 Jan 2013, 12:22 PM Reply Like
  • South Africa has built its economy over many decades due to its strategic location on the oceanic shipping lanes and rich mineral deposits located inland from its ports. The country has been instrumental in participating in the Sub- Saharan economic renaissance through a series of trading initiatives. Trade agreements, economic integration across national borders and trade promotion by various groups have reinforced South Africa's economic ties with the rest of the continent.
    South Africa has tended to serve a hub for funneling outside investment to the rest of Sub- Saharan Africa for quite some time. But it now has plenty of competition from the rest of the world wanting to strengthen their own trade with Sub- Saharan Africa.
    27 Jan 2013, 12:59 PM Reply Like
  • Increasing industrialization with more steel production is one of the key factors of the Sub- Saharan economic renaissance. South Africa followed by Nigeria are the largest steel producers. Several other countries have been working for their own healthy steel sectors for a number of years.
    27 Jan 2013, 01:51 PM Reply Like
  • South Africa mines the most iron ore in Sub- Saharan Africa in concert with its steel production. The West African region is determined to become a large producer of iron ore, too.
    27 Jan 2013, 02:38 PM Reply Like
  • Bauxite mining and aluminum production make up a large part of the Sub- Saharan industrial renaissance. Ghana has the most bauxite ores. South Africa and Nigeria take care of most of the aluminum smelting.
    27 Jan 2013, 03:17 PM Reply Like
  • Russia has been rekindling its interest in Sub- Saharan Africa in recent years. It is sharing its expertise in aluminum smelting and oil and gas production in particular. Since Russia is a huge country with plenty of natural resources of its own, it will be interesting to see how well it trades with Sub- Saharan Africa, the home of many natural resources.
    27 Jan 2013, 05:11 PM Reply Like


    Believe this is an excellent book - if you search, I think 1/2 bloggers have commented on it/reviewed it.


    Sure you can find it on Amazon (UK?) too.
    28 Jan 2013, 01:52 PM Reply Like
  • Japan is a wealthy country raising its economic sights in Sub- Saharan Africa. Since Japan doesn't have much in the way of natural resources, Sub- Saharan Africa is offering some of their natural resource abundance for trading with them. Japan contributes technical knowledge, trading and shipping expertise and hard currency for infrastructure development, agricultural improvements, construction of health facilities and various efforts done from grants.
    29 Jan 2013, 11:38 PM Reply Like
  • Africa has a lot of potential to develop renewable energy industries and projects. North Africa has the most potential for solar power. Sub- Saharan Africa has great prospects for many different kinds of renewable energy either large- scale or small- scale.
    There are a number of energy industry conferences devoted to the topic of new renewable supplies, perhaps too many to mention because the renewable energy discussions are mixed in along with the carbon- based and electrical energy conferences. Here are a few examples:
    31 Jan 2013, 04:02 PM Reply Like
  • Sub- Saharan Africa's oil and gas sector is on the upswing with many potentially lucrative fields located just a few years ago. Nigeria, a member of OPEC, has been the largest oil and gas producer for many years. Many other countries hope to achieve similar production results in coming years.
    News about Sub- Saharan Africa's oil and gas sector is expanding at a rapid rate as the situation becomes better known. The news mentioned in this blog entry is only a small sampling of what is now available.
    31 Jan 2013, 07:09 PM Reply Like
  • Fresh water in Africa is sometimes thought to be more valuable than oil. Africa needs water treatment plants, pipelines, storage facilities, purification, recycling, desalination and ground water extraction. Private industry might get more involved in the water sector as the countries gain some wealth.
    31 Jan 2013, 08:15 PM Reply Like
  • There are thick tropical forests in the better watered areas in Sub- Saharan Africa, mostly in the equatorial regions. The timber industry is small compared to other tropical regions in the world such as Brazil and Indonesia. Timber production remains a bit tricky in the tropical regions because conservation of the rainforests is vital to the health of the local economies and habitats. Forest plantations cover extensive areas of South Africa and Zimbabwe.
    31 Jan 2013, 09:11 PM Reply Like
  • Farming can thrive across much of Sub- Saharan Africa where there is enough water directed to crops. An agricultural revolution is underway across the continent resulting in improved crop yields. There is some concern that if too much food is raised for export there won't be enough left over to bring the cost of food down for the benefit of domestic consumption.
    31 Jan 2013, 09:56 PM Reply Like
  • Improvements in transportation linkages and communications networks with assist industries such as agriculture in moving their output to market. Progress in being made on infrastructure development across Sub- Saharan Africa with each passing year.
    31 Jan 2013, 10:52 PM Reply Like
  • Population growth in Sub- Saharan Africa has mostly gravitated toward the cities during the last century. The cities have attracted rural dwellers in search for a better economic life. Many of the cities are now undergoing redevelopment in attempts to mitigate unhealthy living conditions, inefficient transport and rampant unemployment. Most of the business investments are directed toward the cities.
    5 Feb 2013, 04:28 PM Reply Like
  • The larger cities handle the most air traffic between Sub- Saharan Africa and the other continents. The airports have grown and modernized with the growth of the cities. Progress is being made in improving air travel and air transport across Sub- Saharan Africa.
    5 Feb 2013, 05:49 PM Reply Like
  • Poverty is pervasive across Sub- Saharan Africa. It is probably most noticeable in the cities where slums cover the landscape. If the African Renaissance continues to gain traction in coming years, the rates of poverty should decline.
    5 Feb 2013, 06:38 PM Reply Like
  • The high levels of sovereign debt are one major cause of poverty among the nations of Sub- Saharan Africa. Some progress has been made during the last decade on alleviating the debt crisis with some governmental assistance. The HIPC Initiative is perhaps the most effective government debt program. The fresh prosperity generated from the economic workings of the African Renaissance
    will hopefully produce lower debt burdens in the future.


    5 Feb 2013, 06:57 PM Reply Like
  • Corruption tends to spread poverty by re- routing the natural, legal flow of monetary transactions. There are ongoing efforts to corruption across Sub- Saharan Africa. Those efforts might have a chance for greater success so long as the countries continue to work on effective governance.
    5 Feb 2013, 07:18 PM Reply Like
  • It was mentioned in an earlier entry that the wealthy Arabian Gulf countries are re- directing investments into poverty- stricken areas of Sub- Saharan Africa. The Gulf countries have small amounts of fresh water and farmland. They also have a desire to diversify their economies into manufacturing and away from complete dependence on oil and gas production. Sub- Saharan Africa can provide them with food and various raw materials for manufacturing.
    5 Feb 2013, 08:10 PM Reply Like
  • Britain is pushing for more trade with its former colonies and other countries in Sub- Saharan Africa. More trade will assist Britain's economy as well as Africa's economy.
    The UK Trade and Investment agency mentions many conferences meant for stimulating British- African trade.
    6 Feb 2013, 12:06 AM Reply Like
  • Canada is heavily involved with Sub- Saharan resource industries.
    Canada is working on increasing its trade and assistance with Sub- Saharan African countries. Canada might be at its best with providing food and technical assistance while the Sub- Saharan African nations may prove to be a reliable market for Canadian manufactured products as they become more prosperous over time.
    6 Feb 2013, 02:59 PM Reply Like
  • We are reminded by our new Secretary of State that China is heavily invested in Africa.
    As was mentioned before, China invests in Africa for its raw materials in particular. China is motivated to feed its millions of people and gain access to raw materials to support its manufacturing sector. China is therefore interested in Sub- Saharan arable land and productive mining districts. China is working on building infrastructure across Sub- Saharan Africa with emphasis given to building new railroads and rehabilitating the older ones. The railroads will provide access to the farms and mines from the port cities. Sub- Saharan Africa gains with the infrastructure building and having a demanding market for its exportable goods.
    6 Feb 2013, 03:40 PM Reply Like
  • The countries trading with Sub- Saharan Africa will always be interested in the continent's treasure trove of rare, minor and critical metals, precious metals, diamonds and gemstones. The Sub- Saharan Africa countries have to trade these scarce commodities in a careful way if they are to realize their proper economic value.
    A glimpse at the rare metals:
    A glimpse at the precious metals:
    A glimpse at diamonds:
    A glimpse at the gems:
    Trading these precious items are often fraught with danger and controversy.
    7 Feb 2013, 03:58 AM Reply Like
  • Copper is often mined in areas associated with gold deposits. Consequently, copper can be found in Sub- Saharan Africa in generous amounts. The Copperbelt of Zambia and Katanga has historically been the region with the most prolific copper output. Since the price of copper is usually directly correlated with global economic growth, any such growth is good news for the copper producing areas of Sub- Saharan Africa.
    7 Feb 2013, 05:35 PM Reply Like
  • Investors can find a tremendous amount of information about the African business scene by searching the phrase "African business news" on the internet. There are many African publications catering to African business readers.
    Investors can search for many leads on companies doing business in Africa by using the search name "Africa" in the search boxes for the stock exchanges located in the United States, Canada and Europe.
    Investors can check with the chamber of commerce for African related business ideas.
    Investors can check with any of the stock exchanges located in Africa to get a good idea of business being done in the various countries.
    Investors might decide that is simply easier to do business with an African related exchange traded fund, a closed end fund, an index fund or a mutual fund found in the listings on the major financial news websites. Or perhaps a depositary receipt found in will fit an African related investment objective.
    8 Feb 2013, 12:49 AM Reply Like
  • It might be a little difficult now to decide which Sub- Saharan African economic sector will reap the greatest rewards for an American investor. The economic situation there is burgeoning with potential, making some headway against the age- old problems of hunger and poverty. The situation will gain more clarity in the coming years.
    Perhaps it might be the oil and gas and mining sectors.
    Maybe it might be the logistics, shipping and rail sectors.
    Or maybe it will be the urban renewal, real estate, banking and finance, marketing and trading sectors.
    It could be the education, health care and technology sectors.
    Or it might be the agriculture, tourism and forestry sectors.
    8 Feb 2013, 01:18 AM Reply Like
  • So what might an ordinary American investor make of the African Renaissance?
    The phenomenon appears strong enough at this point in time to provide for a lively market of trading, investing, importing and exporting. If it continues to gain momentum, it will feel as natural in a few years to talk about Emerging Africa as it is now commonplace to talk about Emerging Asia or anyplace else.
    It will need more strength and universality to fight the famous problems of disease, hunger, poverty and despair. Extraordinary efforts, both public and private, are being made to tackle those challenges. It is hoped that they turn out to be very successful.
    8 Feb 2013, 02:40 AM Reply Like
  • I like that tool. Thanks !
    8 Feb 2013, 10:50 AM Reply Like
  • You are welcome, Schumpeter_1.
    And thanks go to you for mentioning Ryan Hoover's helpful African investment resources article linked at the top of this blog. I'll re- link it here as a reminder for any reader making progress going through this rather extensive blog.
    9 Feb 2013, 01:01 PM Reply Like
  • Robert Roach shares some interesting stories about Sub- Saharan investing.
    11 Feb 2013, 10:57 PM Reply Like
  • An update is provided here about America's Doing Business in Africa campaign. It will be interesting to see if the campaign achieves great success in American and African business development in tandem with Africa's economic aspirations.
    2 Mar 2013, 06:14 PM Reply Like
  • As Americans gradually become more familiar about doing business in Africa or otherwise investing in it, attending a trade show devoted to that topic seems to be in order. Chicago will host a trade show about Africa in October.
    3 Mar 2013, 11:10 PM Reply Like
  • More knowledge about Sub- Saharan Africa's stock exchanges and financial networks should help foreigners appraise the continent's economic potential.
    Africans give the view that their stock exchanges will grow smartly in the next several years as they gain financial savvy.
    20 Mar 2013, 10:55 PM Reply Like
  • Watch for more countries investing in Sub- Saharan Africa as time goes by. Malaysia is definitely interested in pursuing investments there.
    28 Mar 2013, 12:57 PM Reply Like
  • New compilations of information are being published as the evidence for Africa's resources and economic value accumulate. One such product is a new soils atlas of Africa which will be helpful in determining how best to increase the value of the agricultural sector.
    26 Apr 2013, 05:11 PM Reply Like
  • More trade deals might include debt cancellation agreements in the future. If so, that will enable the African countries to obtain more economic advantages through trading.
    7 Jun 2013, 01:19 PM Reply Like
  • Here's a new map and explanation of Africa's ecosystems; click on "Full Text PDF" for details.
    23 Jun 2013, 11:17 PM Reply Like
  • Is the private sector to blame for cargo sitting for so long in African ports?
    29 Jun 2013, 06:51 PM Reply Like
  • A new American initiative is underway to support power development in Sub Saharan Africa.
    7 Jul 2013, 02:29 PM Reply Like
  • The International Monetary Fund has come out with a new economic study on Sub- Saharan Africa.
    1 Nov 2013, 02:17 AM Reply Like
  • Regarding the coasts, posing the question:
    Which coastal city and- or coastal strips have a good chance to act as Africa's trading window to the rest of the world given the circumstances? To put it another way, which coastal stretch has a good chance to be the next Cape Town?
    Kenya, one of the many coastal nations, has ambitions to act as the economic hub for most of East Africa. It looks like they have a decent chance to fill that role according to some interesting research I've come across.
    17 Dec 2012, 11:28 AM Reply Like
  • Author’s reply » Top 10 African ports... most are on the east coast:


    Suez Canal (before the revolution) is/was actually Egypt's biggest contributor to GDP


    Mombassa in Kenya, Dar Es Salaam in Tanzania and Beira in Mozambique seem to be the contenders you're talking about.


    Mombassa is medium:


    Dar is large:


    Beira is medium:


    Seems like Dar Es Salaam is the leader in the club house... what do you know otherwise?


    (By the way... Zanzibar off the coast of Dar makes for a nice few days of holiday...)
    17 Dec 2012, 11:38 AM Reply Like
  • The Handbook from the Kenya Ports Authority has a section devoted to how they will expand the Port of Mombasa.
    17 Dec 2012, 07:47 PM Reply Like
  • In that sense, it is very unfortunate that Portek International has been delisted and acquired by Mitsui. They were a nice stock to play ports in Gabon, Algeria and a dryport in Rwanda. It seem that ICTSI also has a port terminal in Madagascar. But that is only one African terminal of the many port terminals both ICTSI has.


    Likewise for DP World with operations in Djibouti, Mozambique, Senegal, Algeria and South Africa.


    19 Dec 2012, 03:29 AM Reply Like
  • By the way, I do not know whether somebody already has it noticed, but APM Terminals, one of the largest port operators in Africa, CURRENTLY operates port terminals solely in West Africa => nine ports in eight West African countries


    Although it already has inland service operations in 12 countries from East Africa (including Kenya, Uganda and Tanzania, as well as parts of Congo and Zambia)


    It eyes Mombassa for their expansion into East Africa, i.e. expansion in port terminals. Logistics Container Centre Mombasa (LCCM), part of APM Terminals Inland Services, already is in operation since 1997.
    19 Dec 2012, 03:55 AM Reply Like
  • Other investable ideas: Bolloré Africa Logistics (a pure play listed in Cameroon)




    Groupe Bolloré SA ( 94% shareholder of Bolloré Africa Logistics)
    main listing at Euronext (Paris) , but also US-listed on the Pink Sheets (BOIVF.PK).


    50 years of experience in Africa and plans for African logistics to expand to Ethiopia.


    Barron's on Bolloré SA:
    "An investment in Bolloré is a bet on France's Warren Buffett....[..] The 60-year old CEO generates most of the headlines for agitating for change at staid companies, but Bolloré is a well-run business whose activities span transport and logistics, fuel distribution, technology, and media. [..].
    Its profitable transport and logistics operations, which account for more than 50% of revenue, are concentrated in Africa and encompass everything from ports to railways and trucking. That makes Bolloré a play on Africa's enormous growth potential."

    (Full text without subscription: )


    Operations of Bollore Africa Logistics.


    What seekingalpha writes on Bollore.


    Bollore Africa Logistics stock info:


    Financial Times'article
    19 Dec 2012, 04:55 AM Reply Like
  • Author’s reply » Thanks Schumpeter_1


    Uncle Scrooge has now been added to the Frontier Markets Authors page:


    I am reading everything you guys are putting here.
    19 Dec 2012, 05:19 AM Reply Like
  • The "94% ownership" seems to be false, but I cannot find the right one. However, it is still a very, very large majority shareholder with a controlling stake. (As can be confirmed from Groupe Bolloré SA's marketing expressions on which the African Logical operations are always most predominant.)


    For those who are familiar with Uganda. It recently acquired SDV Transami. In addition, Bolloré Africa is going to support the oil companies with real estate solutions .
    19 Dec 2012, 05:44 AM Reply Like
  • SDV Transami (not acquired, but rebranded by Bolloré) :


    => Operations in Kenya, Uganda, Tanzania, Rwanda, Rwanda, Burundi and Sudan.


    Customers include well-known MNC's:


    Off record, some other trucks which I found often along the road in Uganda (building a tarmac road to Rwanda): SBI International Holdings AG, i.e. a Swiss listed construction company:

    19 Dec 2012, 06:40 AM Reply Like
  • One of the more thought provoking items you shared, Jon, in my opinion, is the global map of shipping routes portrayed by volume in your article on Sri Lanka's economic outlook.
    While Kenya is not right on the beaten path of trans- global shipping, it is not too far way from it. It's developing its ports to tap into that traffic. Kenya also has a huge resource rich hinterland of neighboring landlocked countries with potential items for trade going through Kenyan ports to the outside world. Kenya's geographic position must be one of the investment criteria taken into account by the business community.
    19 Dec 2012, 04:06 PM Reply Like
  • A very diversified, non-commodity, 100% pure play on sub-sahara listed in London: Lonrho.



    Could be a niece way to play Mozambique (and Angola).
    Operations mainly ride the commodity wave, i.e. the firm's most considerable investments are in Congo, Zimbabwe, Equatorial Guinea, Angola and Mozambique.


    Includes majority ownership in FastJet, a low cost airline backed by EasyJet's Stelios:
    19 Dec 2012, 07:04 PM Reply Like
  • More on operations Bollore Africa Logistics:
    8 Jan 2013, 09:26 AM Reply Like
  • Off topic, Portek seals papua New Guinea deal:
    12 Feb 2013, 03:17 PM Reply Like
  • Singapore's shipping industry is in a good position to really thrive in the years ahead partly because the more undeveloped countries within Singapore's easy reach are keen on developing their economies. Papua New Guinea is one example to Singapore's east. Eastern and Southern Africa provide other examples to Singapore's west.
    12 Feb 2013, 03:44 PM Reply Like
  • I am no expert in Africa but I have some knowledge about Bolloré-Rivaud as I have been holding some of the stocks for +20 / 25 years.


    First, at this point there is NO PURE PLAY on Africa listed in the group. It' scattered all over the place between ODET-BOL-PTER-CBDG-ART... (all listed in Paris).
    The Socfinal part (Fabri) is mostly related to SE Asia.


    FORE, while one of the tiniest is one the purest play.


    Bolloré-Rivaud is BY FEW MILES the ultimate example of cross-holding, result of the combination of Bolloré + group Rivaud, both extremely complex examples of cross-holdings, French style.


    Vincent Bolloré has been grabbing bits and pieces of the float on all those firms with tiny float (some as low as 2 or 3%)...but holders are hard core FANS who knows he is very good at making money, so unlikely to sell. "Sorry Monsieur Bolloré, respect you too much to sell my shares in all the above".


    The good news for you is that last year a bunch of small things happened and over the last few months something, on the surface minor, but of CRITICAL important happened, so we could expect SERIOUS CHANGES in the structure of the group this year....which means that at some point, African-trading activities could listed in a new company within 2-3 years.
    For now, in my opinion, you best hope to gain exposure to Bolloré's African business (big picture) is Bolloré, or cheaper smarter but less liquid, Odet!.


    I hold shares in: PTER, CBDG, ARTO, MONC, FORE, MLTRA, MLCVG.
    16 Mar 2013, 08:42 PM Reply Like
  • Because of the magnificent cross-holding, putting a valuation on any of those firms is a FANTAISY for now, but that will be improving in the coming months-years.
    16 Mar 2013, 08:42 PM Reply Like
  • Interesting things you are saying.
    Can you elaborate somewhat more on [the] "last few months something, on the surface minor, but of CRITICAL important happened, so we could expect SERIOUS CHANGES in the structure of the group this year....which means that at some point, African-trading activities could listed in a new company within 2-3 years." ?
    Perhaps a few links ?


    Do you expect that " Bollore Africa Logistics" which already has it's own listing in West-Africa, will undergo an IPO overseas ?


    Interesting stocks you are mentioning. I thought there was also a separate (Luxembourg) listing of the African business by Socfin: Socfinaf ?
    17 Mar 2013, 07:07 AM Reply Like
  • By the way, what do you exactly mean by "at this point there is NO PURE PLAY on Africa listed in the group. It' scattered all over the place" ?


    That Bollore (=comprised of many holdings in small companies) does not have any business which is a 100% exposure to Africa ?


    Hope to see you more often at SA.
    17 Mar 2013, 07:26 AM Reply Like
  • The cross-holding between the different Bollore entities make it just impossible to value.



    Have a look at the list of listed entities and their shareholders and you will the problem.
    What happened in june 2012, nov 2012 and feb 2013 are technical points that could help to merge ODET and BOL without Vincent Bolloré going below 50% of the merged entity, ignoring cross-holding.
    I don't think there is a more complex cross-holding structure in the world so decoding the move on this chess board for years has turned into an art :)
    So time may move faster.
    Will see once the 2012 financials are announced (next week ) what happens!


    Under the same entities, you find ANYTHING, Africa-trading as well as HAVAS, VIVENDI, ITALIANS BANKS, LI BATTERIES AND BLUE all the small stuff left of over from Rivaud ...and I forget many.


    Even FORE that controls Sitarail I think owns a critical piece of one of the key holding, making the valuation a headache.


    Socfinal-Socfinasia-So... controlled by H Fabri which is a partner of VB but VB is only a minority shareholder there.
    Socfinaf is about Kenya if I remember, marginal in comparing to the trading business of VB in Africa.


    Socfin was listed in Belgium and Luxembourg and has been delisted (split between VB and HF).


    ANYWAY, I think the activity on many of those VB entities are for those (maniacs or fans) following VB for 20-30 years a hard evidence something is changing, with his sons getting more in charge, simplification of the structures per type of business in order to raise equity thanks to high valuations of "pure plays".


    If I am not mistaken, within 9m-12m, it should be clearer.


    My cup of coffee is Mongolia (my exposure to the local market is at par with my exposure to the VB companies), not Africa which I think is a 50 years shooting range while Mongolia should deliver much more within 10.
    17 Mar 2013, 08:25 AM Reply Like
  • Some East African countries have a good chance to become emerging economies in ten years depending on circumstances. The coastal countries of Kenya, Tanzania, Mozambique and Djibouti will have much better trading links to the inland hinterland countries in several years. Djibouti, Somaliland and Puntland are right on the main shipping lanes between the Suez Canal and Singapore. Ethiopia, Uganda and Rwanda are growing at a fast clip right now despite their landlocked positions. Both the coastal countries and the inland countries are expected to continue their economic booms as the trading and communications infrastructures get built and as economies become more diversified and integrated.
    East Africa has the advantage of being that side of the continent facing the richer, resource hungry countries of Turkey, the Gulf States, India, China, Japan, Taiwan and Korea. Australia invests a lot in East Africa, too.
    East Africa is an interesting investment destination.
    17 Mar 2013, 11:17 AM Reply Like
  • The eastern half of Africa is taking some constructive steps to bolster their economies through trade and regional integration despite the common roadblocks. Eastern Africa will become even more interesting when more trading links get built and established.
    21 Mar 2013, 11:27 AM Reply Like
  • FastJet among biggest risers at London opening = new routes



    And Lonrho among holdings by best and most well-known Dutch asset management company :
    14 Jun 2013, 04:48 AM Reply Like
  • Lonrho delisted, Swiss billionaire buy out


    The Guardian:




    Financial Times' look in Lonrho's 100 year history:
    30 Aug 2013, 03:44 AM Reply Like
  • Meaning that of the original London and Rhodesian Mining and Land Company Ltd. (Lonrho), founded in 1909, only (notorious) Lonmin and Lonzim remain.


    Lonzim, nowadays called Cambria Africa, is a U.K. listed investment holding company. It is a perfect diversified, non-commodity play on resource rich Zimbabwe, whch currently has plans to expand to Zambia.




    31 Aug 2013, 04:25 AM Reply Like
  • More on playing Angola via non-energy related stocks:


    Millicom enters eastern DRC Kivu province:
    250,000 new customers in less than 3 months
    22 Oct 2013, 02:09 PM Reply Like
  • Kenya already has a major port at Mombasa servicing the country's trade with the rest of the world.
    Kenya is now working on developing a new corridor connecting neighboring countries with Lamu, another Kenyan port. The corridor will consist of a highway, oil pipeline, railroad and a deepened water port. The corridor will enable the development of the dry northern half of Kenya and neighboring portions of South Sudan and Ethiopia. South Sudan is noted for its oil wealth; Ethiopia has some mineral wealth; both are concerned about their landlocked status. It is hoped that Lamu can keep its appeal to tourists with the development, however.
    17 Dec 2012, 12:07 PM Reply Like
  • Besides the improvements being made at the all- important seaport at Mombasa, Kenya is improving its railroad network from the port to elsewhere in the country.
    25 Jan 2013, 05:35 PM Reply Like
  • Roads are being improved and extended outward from the national capital of Nairobi.
    25 Jan 2013, 05:42 PM Reply Like
  • Nairobi is the largest city in East Africa. The metropolitan region is thriving on new business so much so that the new city of Konza is now being built in the area. If I might hazard a guess, the growing pains will necessitate a freeway conversion of the highway going from Nairobi down the slope to Mombasa one of these years. Nairobi will need quick access to the ocean trading routes.
    25 Jan 2013, 05:59 PM Reply Like
  • To build up Nairobi and work on the nation's economy and infrastructure takes a fair amount of energy. Kenya is in the process of diversifying its power resources away from hydroelectric supplies because of occasional low water levels from draw- downs and droughts. Kenya is expanding its power supplies concurrent with its other economic endeavors.
    27 Jan 2013, 12:56 AM Reply Like
  • Kenya along with its East African neighbors is working on ways and means to create prosperity with its oil and gas reserves.
    17 Dec 2012, 12:19 PM Reply Like
  • The regional oil and gas industry is apparently large enough now to hold an international exposition about its development potential.
    5 Jan 2013, 04:28 PM Reply Like
  • Kenya has plans to upgrade its oil refinery, replace aging oil pipelines and construct an oil jetty to satisfy the industry's growth.
    5 Jan 2013, 05:33 PM Reply Like
  • Uganda has ambitions to refine its own oil reserves rather than to export them through the Kenyan pipelines. Development of their reserves is just getting underway.
    5 Jan 2013, 05:53 PM Reply Like
  • There are more discussions and information about Kenya's oil industry as it becomes better known in the international news.
    17 Jan 2013, 01:35 PM Reply Like
  • A famous frontier markets expert, Mark Mobius, has favorable things to say about Kenya.
    Some organizations offer advice on investing in Kenya-
    including the Nairobi Securities Exchange.
    Our State Department also issues advisories and other news.
    17 Dec 2012, 12:37 PM Reply Like
  • There should be more investment opportunities in the region as the years go by. The United States government is acting on this notion by setting up a commercial dialogue with the countries in the region.
    17 Dec 2012, 02:21 PM Reply Like
  • American bi-lateral trade with Kenya keeps growing.
    25 Jan 2013, 03:53 PM Reply Like
  • Kenya is right in the middle of the East African economic activities described in this blog. Kenya's trade is bound to grow for many years to come because of this central position giving it economic synergies within the region.
    25 Jan 2013, 04:03 PM Reply Like
  • Kenya has a diversified economy struggling to keep up with population growth.
    25 Jan 2013, 04:11 PM Reply Like
  • Besides growing sweet potatoes and other staples, Kenya is noted for its exports of tea and coffee.
    25 Jan 2013, 04:18 PM Reply Like
  • Kenya also has a variety of mineral wealth. The country is considering a new mining law regulating the industry.
    25 Jan 2013, 04:28 PM Reply Like
  • Kenya is famous for its tourism. Safaris to see Kenya's wildlife have been going on for over a century. The country has many national parks and wildlife preserves attracting the sightseers.
    25 Jan 2013, 04:53 PM Reply Like
  • Kenya's investment opportunities are reinforced by its central location, diversified and increasingly integrated economy and strategic trading routes.
    25 Jan 2013, 05:10 PM Reply Like
  • Tanzania is gaining fame in recent years for its deposits of rare earths, gold, uranium, gas and oil.
    Tanzania has historically been famous for its tourism.
    21 Dec 2012, 10:40 PM Reply Like
  • Author’s reply » Including patron saint of gold bugs, Jim Sinclair, and his Tanzanian Royalty (TRX)
    22 Dec 2012, 03:06 AM Reply Like
  • Indeed they have a "track record" on tourism and their port of Dar es Salaam seems very popular with port terminal operators. But currently there some things that are becoming burdensome to business :




    Tanzanians like taxes:
    22 Dec 2012, 07:59 AM Reply Like
  • It looks like much of Tanzania's revenues are being directed toward railroad development. Rail lines are being revamped and extended in keeping with the East African Railway Master Plan. A new rail line will connect Tanzania with the two landlocked countries of Burundi and Rwanda which are still recovering from the civil wars of a couple of decades ago. Another rail line will connect Tanzania with the oil rich countries of Uganda and South Sudan. Trade from these countries will probably increase and be funneled towards Tanzania's main port at Dar es Salaam. That port is currently being expanded to handle the additional traffic volume expected from the railways.
    Details about the new rail lines are found with downloadable pdfs at this link.
    5 Jan 2013, 11:58 PM Reply Like
  • Dar es Salaam also handles rail traffic coming across Tanzania from the landlocked country of Zambia. That rail line is currently being upgraded.
    Zambia is geologically wealthy and is probably most famous for its copper mines.
    6 Jan 2013, 12:21 AM Reply Like
  • The increase in taxes might prove to be worthwhile when the upcoming projects bring forth the promised prosperity. It looks like one of those wait and see situations.
    6 Jan 2013, 12:24 AM Reply Like
  • A number of companies target Tanzania for its promising geologic position on the Tanzanian craton and nearby mountains of the East African orogeny. The companies might report in their financial findings to what extent the new tax law has effected their outlooks.
    19 Jan 2013, 09:39 PM Reply Like
  • With Tanzania's criteria taken into account, its large port city of Dar es Salaam has taken on the role of being the country's economic magnet. Business expansion is underway there, thereby assisting the city's stock market.
    25 Jan 2013, 12:57 PM Reply Like
  • The East African Community has its headquarters in Arusha, a city in a scenic region not far from the famous Mt. Kilimanjaro. The EAC works to integrate governmental and institutional functions in Tanzania, Kenya, Burundi, Rwanda and Uganda in order to create economic efficiencies between them.
    The EAC is making diplomatic arrangements with other countries besides the United States in hopes of attracting additional foreign investment.
    12 Feb 2013, 11:09 PM Reply Like
  • Work has begun on Tanzania's new port at the old tourist town of Bagamoyo. The port is expected to relieve the shipping congestion at the main port at nearby Dar es Salaam.
    This new project comes at a time when the other ports and infrastructure are being upgraded.
    27 Mar 2013, 02:14 PM Reply Like
  • A few links on the East African oil, incl. stock ratings:















    Ophir Energy:
    22 Dec 2012, 07:30 AM Reply Like
  • Author’s reply » Thanks for all the links Schumpeter_1
    22 Dec 2012, 08:57 AM Reply Like
  • Thank you, Schumpeter_1, those are really interesting.
    22 Dec 2012, 01:14 PM Reply Like
  • Sorry to bother you guys again, but ...I have another link to some condensed country reports made by the Rabobank
    (i.e. reports on Ghana, Nigeria, Tanzania, Rwanda, Angola, Botswana, South Africa, Cameroon). They are quite recent, i.e. Ghana report is from August 23, 2012


    Just filter "Country Reports", then "Africa".



    By the way, there are also country reports on Mongolia (Sept 2012) and Sri Lanka (two versions: Sept 2012 and Jan 2010), Bangladesh and the Maghreb region (Algeria, Marocco).


    The BBC World Newsalso seems to do a god job with their country profiles. They are all updated quite regularly:
    22 Dec 2012, 08:21 AM Reply Like
  • The "Super-Cycle" report by Standard Chartered bank can also be hold against as a background:



    Though some "predictions" made in 2010 have already proven to be obsolete.
    23 Dec 2012, 09:38 AM Reply Like
  • Author’s reply » Ryan Hoover has been added to the author list at the top of this blog. I recommend checking out his articles:
    22 Dec 2012, 11:18 AM Reply Like
  • Author’s reply » Schumpeter_1 really liked this article by Ryan Hoover (understandably) and I added a link to it at the top as well
    23 Dec 2012, 12:54 PM Reply Like
  • Investors continue to see opportunities in Africa’s food industry:
    29 Jun 2013, 06:40 PM Reply Like
  • The food industry should be able to thrive in many areas of Africa in the years to come.
    30 Jun 2013, 12:23 AM Reply Like
  • Regarding Djibouti, Somaliland and Puntland, the storied lands of myrrh and frankincense:
    These are the Sub- Saharan countries that are actually facing the busy trans- global maritime route. Their littoral is on the strategic Gulf of Aden between the Red Sea and the Arabian Sea. The maritime route has connections northward to the Suez Canal, recently deepened to accommodate some cape- size vessels. The maritime route connects traffic eastward to the Malabar Coast of India, Sri Lanka and Singapore, with a side detour to the oil rich Gulf States.
    Djibouti has ambitions to become an important stopover on the maritime route. Dubai World has a port there. The United States military is stationed there. And Djibouti is the main port servicing Ethiopia, which makes up the country's hinterland.
    Somaliland is a region needing to be explored for valuable minerals. Its main commercial asset must is the deep water port at Berbera.
    Puntland is known for its fisheries and oil deposits. Its port at Bosaso is becoming more important for Arabs and Indians doing business in nearest Africa.
    The three countries are considered to be underdeveloped; investors will probably need to take a very long range view of their situations. A reduction in maritime piracy should go a long way to facilitating their development and awakening foreign investment.
    22 Dec 2012, 02:34 PM Reply Like
  • Oil exploration and drilling is just getting underway in Puntland. This situation appears to be the most actionable one for investors at the present time.
    22 Dec 2012, 02:44 PM Reply Like
  • Author’s reply » VB....


    This is becoming an impressive blog thanks to Schumpeter and you. Quite another treasure trove there.


    And, me, I finally figured out Puntland is a declared autonomous region in Somalia
    22 Dec 2012, 04:22 PM Reply Like
  • I guessing that Puntland and Somaliland will keep their loose affiliations with Somalia in the foreseeable future because, after all, they are ethnic Somalis. I imagine they prefer their autonomy because that seems to be working for them so far without having to hassle the complications of unrest in Somalia proper.
    Their neighbors in Ethiopia's Ogaden region are ethnic Somalis, too. The politics of that situation helps to make investing efforts in the Horn of Africa problematical.
    22 Dec 2012, 11:13 PM Reply Like
  • It looks like Somaliland might open up its gas and oil reserves for development soon.
    The country is known to have some mineral wealth such as coal, base metals, gemstones and rare earths. Interested parties are just beginning to scratch the surface about these.
    23 Dec 2012, 12:09 AM Reply Like
  • VB


    I think you are really making some excellent points here. Both on Ethiopia and on Somaliland. It has occurred to me that many, many non-resource companies are moving toward Ethiopia (e.g. Diageo, Visa, Bollore). Economic activity is rapidly increasing. This has much to do with a very large Ethiopian diaspora. Mostly because home remittances. And let us not forget, the country's booming potash industry e.g. Allana Potash (ALLRF.PK).
    Djibouti, a stable country, might be the perfect way to play Ethiopia.


    And Somaliland might be an excellent way to play Somalia. It is absolutely non-comparable to Somalia itself:


    I would strongly recommend checking the related BBC TV-series "Indian Ocean with Simon Reeve" in which he travels from Somalia to Somaliland (series also include Sri Lanka and Bangladesh in a different episode)... If not alone, for the wheelbarrow full of dough.


    Ethiopian diaspora and business:







    23 Dec 2012, 09:20 AM Reply Like
  • Neither did I know this "Country of Punt".
    Always learning..
    23 Dec 2012, 09:25 AM Reply Like
  • Ethiopia the only country, in the list of 15 most populous nations in the world, without a stock market. How to benefit ?


    BTW,regarding Holland Car(a link above mentioned) ,it already went bust (just a month ago):
    23 Dec 2012, 09:59 AM Reply Like
  • MTN & Bharti eying Ethiopia:


    The Djibouti-Ethiopia-South Sudan Transport Corridor:



    (MTN Group is already present in South Sudan. Next's mobile money frontier
    23 Dec 2012, 11:16 AM Reply Like
  • We are essentially studying the Land of Punt consisting of Yemen or Arabia Felix, Ethiopia and the lands of the Somalis.
    It will be worthwhile to see if the three regions trade more closely with each other in the future.
    A couple of examples:
    The Bridge of the Horns might be built with Arabian oil money.
    Ethiopia is trading more out of Somaliland's Port of Berbera.
    China, America, Europe, Arabia and India are taking an active interest in the Land of Punt. There has to be good reasons why.....
    23 Dec 2012, 12:41 PM Reply Like
  • The Port of Djibouti will be expanding its infrastructure soon. Business must be good due to its strategic location, deep water port, free trade zone and better connections to its Ethiopian hinterland.
    23 Dec 2012, 02:22 PM Reply Like
  • Allana Potash Joins the Ceremony of Tadjourah Port Construction Start


    Marketwire - Dec. 18, 2012 - Allana Potash Corp. (ALLRF.PK) wishes to express its congratulations to the Djibouti Ports and Free Zones Authority (DPFZA), the Governments of Djibouti and Ethiopia, and the people of Tadjourah Region in Djibouti, on the official completion of financing and start of construction of the new bulk port at Tadjourah, Djibouti.

    26 Dec 2012, 11:23 AM Reply Like
  • The port construction at Tadjourah is significant for Djibouti and its much larger neighbor, Ethiopia. The new rail connection between Tadjourah and northeastern Ethiopia will not only open up a broad stretch of country for development but will enable another trade route between the two countries. The new railroad is part of a larger effort by Ethiopia to expand its railroad system in various parts of the country.
    26 Dec 2012, 02:45 PM Reply Like
  • Author’s reply » I know about Allana (ALLRF.PK) but I used to really be interested in Ehtiopian Potash (ETPHF.PK) (FED.V) which seems to have seen its price drop through the bottom.
    28 Dec 2012, 03:35 AM Reply Like
  • I know that one too (ETPHF.PK). I had it in my portfolio.
    Boy, did that stock costed me money.
    28 Dec 2012, 07:47 AM Reply Like
  • The way to benefit is to actually come here and directly invest. There is a commodity exchange by the way called the ECX and the government is pushing hard to make coffee its core export.
    29 Dec 2012, 09:00 AM Reply Like
  • Djibouti is the busy port most centrally located within the common market of eastern and central African countries. Rail and road links still need to be built within the common market for efficient transport of marketable goods. The common market will make economic progress as those links get built. That will give the Djibouti ports additional business and add to its pressure packed port volume.
    3 Jan 2013, 11:49 AM Reply Like
  • Author’s reply » Horntrade looks like a good website for the region of Ethiopia, Eritrea, Djibouti, Somalia but is Djibouti focused
    4 Jan 2013, 07:08 AM Reply Like
  • That website now appears to be defunct. Maybe this other site will catch the regional news as it grows as a business.
    Otherwise it looks like the continental business news will have to suffice. Here are a few examples out of many:
    12 Feb 2013, 11:52 PM Reply Like
  • Heineken to build Ethiopia’s biggest brewery:



    " Ethiopia is Africa’s second most populated country with approximately 85m people and population growth of 2.5 per cent per annum. It is also one of the fastest growing non-oil economies in Africa with a stable political environment and growing personal incomes. "


    " The UK’s Diageo last year snapped up Meta Abo Brewery, maker of the country’s number two beer brand Meta, in a $225m all cash deal."
    8 Mar 2013, 03:53 AM Reply Like
  • This news site appears to be a good source of business intelligence for the Horn of Africa region including Ethiopia and Kenya.
    8 Mar 2013, 01:13 PM Reply Like
  • Bollore Africa Logistics is vying to operate container terminals in Kenya, Somaliland and Mozambique:



    Berbera re-visited ?
    13 Mar 2013, 01:15 PM Reply Like
  • Bolloré logistics arm to ‘unlock Africa’:
    16 Mar 2013, 06:34 PM Reply Like
  • Re: Somalia, Somaliland and Puntland


    Last week, a new company – Soma Oil and Gas – signed an exploration deal with the Mogadishu-based federal government of Somalia.


    (Genel Energy, the Kurdistan-focused oil producer backed by the financier Nat Rothschild )
    15 Aug 2013, 03:39 AM Reply Like
  • More oil in the Somali region, Vanoil Energy:


    With our own trusted deepvalue investor, Firebird Capital:
    Firebird also being heavily involved in North Korean oil.
    (First, via a joint venture vehicle teaming up with U.K. listed Aminex and now, subsequently via Mongolian listed HBOil)
    31 Aug 2013, 08:08 AM Reply Like
  • Ethiopia is looking forward to selling greater exports of sugar, biodiesel and coffee as well as potash. I drank some Ethiopian coffee from one of the specialty grocers a few months ago; it has a hearty flavor and aroma.
    26 Dec 2012, 02:56 PM Reply Like
  • Ethiopia also has some gold. Exploration for gas and oil is now underway mostly in the Ogaden Basin near Somalia but also elsewhere in Ethiopia.
    26 Dec 2012, 03:15 PM Reply Like
  • Oil companies might give the Ogaden Basin some serious attention when the area becomes more peaceful.
    20 Jan 2013, 01:08 AM Reply Like
  • Most of the construction activity in Ethiopia is occurring in and around the capital city of Addis Ababa. The city is undergoing a construction boom with many different projects. It is hoped that the prosperity from the boom will find its way to the countryside.
    The Chamber of Commerce takes a particular interest in trade, agriculture and tourism.
    25 Jan 2013, 12:22 PM Reply Like
  • Ethiopia has plenty of positive business news now that its trading access to the sea is secured and strengthened. Ethiopia represents a great economic model for the rest of landlocked Africa to emulate.|%20Economy
    8 Mar 2013, 01:07 PM Reply Like
  • Author’s reply » Another reader has recommend Feronia (FRNFF.PK) (FRN.V), an ag play in the DR of Congo.




    Home page:


    Had to go to Bloomberg for good chart:
    28 Dec 2012, 03:40 AM Reply Like
  • I know the firm.
    Quite important to know is that Feronia Uganda Limited is not associated with them (as I always mistakingly thought).


    I believed that SA author John Polomny was also watching this stock ("As far as other countries in Africa I like Banro (BAA) in the DRC. I also am looking at a small compnay that is rehabilitiating a palm oil plantation that used to belong to Unilever.")
    28 Dec 2012, 08:07 AM Reply Like
  • Author’s reply » More on Feronia from e-mails with same reader:


    - being in africa, they are perfectly located to feed africa, and they are positioning themselves to do such.




    - Phatisa ( recently invested at 12c.



    - numbers wise, it is understandable still to make a profit, and a bit illiquid, however it also has a low debt/equity ratio (which i am heavily bias towards). most importantly, at around 10c, it is much easier to double to 20c, than say bunge to move from $72 to $144. major risk here is further share dilution may happen.


    - seem immune to the political issues in congo. also appears to be looking after the environment and people - very important to me.

    28 Dec 2012, 08:09 AM Reply Like
  • I agree with you on the latter matter. Bas Congo is quite safe and doesn't suffer from the anarchy in Eastern-Congo (that only seems to reach television). Though I am still a bit worried (as a big fan of wildlife) It says zero deforestation because of re-planting, but what about those lowland gorillas ?


    I am big fan of investing in agricultural lands and even more keen on frontier markets, but it seems to be a re-occurring worry to me with those plantation companies.


    Moreover there is a word of precaution. Each time Congo troubles start, they start locally in the eastern part, i.e. the rise & march of a new rebel group. Recently rebel group M23 conquered Goma, while the UN wasn't prepared to do anything. Not even defending local civilians. M23 said it wanted to march to Kinshasa (DRC's capital), i.e.. the west. It was only after international pressure on Rwanda and Uganda(!) that M23 didn't do it and even left Goma.
    28 Dec 2012, 08:30 AM Reply Like
  • Might be valuable to compare landprices on a per acre basis. Yesterday I read that Belgium/ Luxemburg listed palmoil plantation companies were very much cheaper than Singapore. And yes, there is also (at least 1) an Asian listed plantation company in Belgium/ Luxemburg (besides African plantation companies).
    28 Dec 2012, 08:46 AM Reply Like
  • If the fighting in eastern Congo ever stops so that development can occur, the agricultural resources of Bas- Congo might find their way to the East African markets. What is missing is the proposed rail link between Kisangani, at the head of navigation above the Congo River by river barge upstream from Bas- Congo, and Kasese, at the end of the rehabilitated rails in western Uganda. The fighting is going on in the Kivu region in eastern Congo where the proposed rail link for the Northern Corridor is supposed to be constructed.
    19 Jan 2013, 08:44 PM Reply Like
  • Off the record....did I ever told anyone that I fell in Congo River 50 meters a way from a couple of hippo's, while trying to follow an elephant herd. It actually has a strong current. Talking about in-depth market research...
    20 Jan 2013, 03:23 AM Reply Like
  • Author’s reply » Glad you lived to tell Schumpeter 1.


    Funny what we'll do for a picture on a safari.
    20 Jan 2013, 06:15 AM Reply Like
  • Author’s reply » Tanzania's island of Zanzibar is getting bad press on the rise of Muslim values on the island


    One of my most favorite parts of my 5 week trip from South Africa to Egypt in 1995 was time in Zanzibar, Mitu's spice tour, the food market with kebabs and sugar cane juice, Sambusa's Two Tables restaurant (literally a restaurant of two tables on his home's patio), the old city. Really nice place. Feels like the author hasn't been there. Couldn't write the way he did if he had. Yet, its the FT and it will get international attention.
    29 Dec 2012, 04:52 AM Reply Like
  • Zanzibar shares a lot of cultural affinity with its parental country of Oman.
    The Omani role in Zanzibar happened many years prior to Zanzibar's union with Tanganyika in 1964, forming Tanzania.
    24 Jan 2013, 06:25 PM Reply Like
  • Zanzibar is still famous for tourism and spices.
    24 Jan 2013, 06:39 PM Reply Like
  • Zanzibar has ambitions to resume its historic role as a seaside trading hub with improved port.
    24 Jan 2013, 06:42 PM Reply Like
  • And in order to help finance its economic ambitions, Zanzibar is now ready to explore for oil.
    24 Jan 2013, 06:58 PM Reply Like
  • Anyone interested can read my analysis of Ethiopia from December 2010 titled "Ethiopia on Track to Become Africa's Energy superpower"

    29 Dec 2012, 09:03 AM Reply Like
  • Author’s reply » Thanks for the link Abegaz. Great post.
    29 Dec 2012, 09:54 AM Reply Like
  • No problem Jon. I had been thinking of writing a follow up as that story is now almost exactly two years old. There have been a lot of positive changes and the investing landscape is absolutely phenomenal. It is so disconnected with what is happening elsewhere that the story of Western troubles does not even register here at this time. Much of Sub Saharan Africa is also in the midst of a transformation and economies are really booming. Coca Cola is here now and working hard to expand its market share with a huge advertising campaign. But that is not why you or anyone else would come because it is not possible to participate in the expansion via shares of Western companies in a meaningful way as the global giants success in one region can be flattened out by losses in another. really need to be here in person with your feet on the ground directly making use of your capital to take a share in any one of the small growing companies that are showing explosive growth. Candy and confections are a perfect example as are beauty care products, publishing, entertainment and light manufacturing as examples. I know of a gal who started a small chewing gum factory five years back with one small machine from China. She absolutely dominates the domestic market of 82 million people today and is expanding into chocolates. She is one of the first in the country doing so and looks to be a great success. Where else on earth is that dream still possible?????
    29 Dec 2012, 01:51 PM Reply Like
  • Author’s reply » Abegaz,


    Sounds like a flourishing frontier market. Looking forward to more writing and comments from you.


    My personal travels are unfortunately booked up through August... but after that I'm open to suggestions as things develop... and depending on employment status, I may be a bit more beholden to travel more to Asia for the time being.


    That said, I would also like to hear more about stories such as the woman who started a chewing gum factory and now dominates the market. I go to conferences from time to time where there are people interested in these types of stories and investing in people with this kind of success.


    One issue I've heard is a challenge for Ethiopia's development is that it is landlocked and must go through either Somalia, Djibouti, Eritrea, or Kenya to get port access. Is this issue overblown? How is infrastructure development? (roads, rails)
    29 Dec 2012, 05:42 PM Reply Like
  • I would say the issue of being landlocked is perhaps a bit overblown as there is good cooperation and strong economic ties between Ethiiopia and Djibouti for example. A rail line partially funded by the Chinese is being reestablished there now, roads are being upgraded between the two nations and a significant investment is underway by Ethiopia to expand capacity in Djibouti ports and container facilites. One of this Ethiopias most important exports is going to be power long into the future and the regional nations will all benefit. The neighbors are already connecting to the grid and are supportive of the hydroelectric projects where they do not have means of their own to build a capacity. Djibouti meets 60% of its power needs through a new transmission line. See this article for a bit more background.

    30 Dec 2012, 12:24 AM Reply Like
  • Frontier investing is a good term Jon. I think this may even define why most Westerners are missing the action here while Chinese and Indians are signing off on all the juicy contracts at a rate of 20 to 1.


    You just cannot participate here by sitting in a New York office and pushing buttons on a computer. There are very few publicly listed companies in most of Africa actually especially as compared to the developed world. No easy means are available to add to a pension plan or investment portfolio so almost everyone is going to miss out on the growth story.


    This is a place where much of what is happening is in the incubation stages and so the real action is much more personal and in your face. It is a market for younger people with their own capital, a little ambition (and lots of patience).


    I hear stories almost daily from others about what they are doing and am usually amazed at how well it has worked out. Even guys who are complete screw ups elsewhere are turning a buck. It is because land, labour and power costs are just so low here that there is a lot of forgiveness for those making mistakes and they survive to see another day.


    One of the biggest areas of opportunity here and in much of the rest of Africa is "processed foods". Try buying a bag of potato chips in Addis Ababa for example and you will see what I mean. There are no MacDonalds either and precious few chain stores. Everything is Mom and Pop.


    Pizza and burgers have just arrived here in the last few years and overnight became some of the most popular dine-out foods. Fast food is still virtually unknown and yet the term "take-away" has still managed to creep into the local language and the idea has taken hold. Fried chicken outlets have yet to make an entrance. I have only seen one so far but I am confident they will grow explosively once someone starts building them.


    I just saw the first real car wash the other day. It was full. Laundries and dry cleaners are still in their infancy yet are so popular and in demand that you wait in excess of a week to get your clothes back. One of the biggest areas of opportunity is in entertainment. This is a nation of youth where the median age is 14 years. Games, pool halls, arcades, toys and cosmetics for young women are huge growth areas. Just by paying simple attention to the demographics one could make his fortune.


    There is a fast developing middle class here and a huge Diaspora with strong connections to the West that live here. Consumption is rising dramatically. Shops and cafes are often filled to the last chair with the most successful being those that have emulated Western marketing models.


    But you can't make money on it unless you do a little serious research and just get on a damn flight and come here. Ethiopian Airways offers direct non-stop flights daily from both Toronto and Washington DC and will soon have a fleet of ten 787 Dreamliners on offer.


    They are the only airline in Africa with direct links to North America incidentally and that in itself should indicate to everyone the growing importance of this region.


    Without giving it too much thought I can say without reservation that Ethiopia is now amongst the most strategically important nations to US interests in Africa and the relationship is growing stronger all the time. This country is a lion in the region and a good friend to the West.
    30 Dec 2012, 01:03 AM Reply Like
  • Some of the Ethiopian diaspora are making contributions to the California economy, most famously in Los Angeles.
    30 Dec 2012, 11:36 AM Reply Like
  • Author’s reply » Abegaz... great posts. If you keep it up... I'm going to wind up buying a plane ticket to Ethiopia by mid-2014 or earlier (which I wouldn't have thought 10 days ago).


    A happy, healthy and meaningful 2013 to everyone in this chat room, and your families, (and even to the people not in this chat room who just don't know how good it is ;-)
    31 Dec 2012, 11:16 AM Reply Like
  • Well thanks Jon. Good to hear you may be coming over at some point. It is not all roses here though, let me assure you. This is not the West by any stretch so be sure to get all your vaccinations ahead of time, get your dental work up to date and carry some good health insurance.


    There are crazy things about this place that drive some people nuts. We don't have phone books for example and there is no yellow pages online or in print.


    There is also no mail delivery and only wealthy people have box addresses. Streets do have names but nobody uses them so locating people and places is hit and miss but a good driver can usually get you near if they have a landmark.


    Business's and homes also do not have numbers posted on their door as is common in the US. Nor are there many traffic signals, crosswalks, sidewalks or public benches to sit and rest. It is a lot to adjust too.


    Traffic especially is interesting as pedestrians do not have the right of way. So those are just a few extra thoughts to help you understand why the cost of doing business for those who engage is so low but also why it can be maddeningly slow.
    31 Dec 2012, 02:18 PM Reply Like
  • Author’s reply » That all sounds right Abegaz. These things change with time. My wife would be thrilled to be somewhere that I have no internet access :-)
    1 Jan 2013, 03:03 AM Reply Like
  • JS,
    Happy New Year to you and yours and all the bloggers here. Thanks also for all the info and time spent updating and keeping us informed. To all the bloggers, thanks for the great comments and for furthering my growth of knowledge.
    1 Jan 2013, 03:28 AM Reply Like
  • I am watching at the window to the chat room. Nothing to add but say thanks for the great insight from you all. Abegaz thanks for the boots on the ground perspective.


    Yes Happy New Year to each one of you and all the followers.
    31 Dec 2012, 02:31 PM Reply Like
  • Thanks everyone and may I wish you all a happy New Year too. If anyone is interested in hearing more about this part of Africa I would be happy to oblige with added commentary.


    For those of you who are smokers and also enjoy a drink (and might be coming over for a visit) I have terrific news. Beer is 60 cents a bottle in restaurants and a pack of filter smokes goes for 50 cents. Very good hotel rooms begin a 65 dollars per night.


    Housing is shockingly inexpensive compared to home. Foreigners can get very decent digs beginning at around 150 dollars per month. I have a four bedroom place, two kitchens, two baths with white marble floors throughout plus servant quarters included for that price, just to give you an idea.


    Fresh fruit and veggies are available year round for mere pennies. The services of a porter to carry groceries, luggage, building supplies or whatever starts at 15 cents per load if it is near home. Average daily wages run about 1.25 for low skilled folk but even a fully qualified engineer costs just 350 dollars per month if you have the need for one.


    One of the fascinating aspects of this country is that it is Orthodox Christian for the most part. There are churches absolutely everywhere you go and the people are quite devout compared to home. This is also a gun-free peaceful culture and violence is quite rare.


    Despite the limitations around mail services and street address's the country is well connected. Virtually everyone has a cell phone and internet is usually available in even the smallest of villages. The new Commodity Exchange handles four products at the moment but is focussed on coffee.


    Banking services are currently limited compared to the West which is problematic at times. There is no Debit system nor do shops accept Visa and Mastercard with the exception of some tour operators and the biggest hotels. ATM's meanwhile are still sparsly distributed around the country but that is changing fast. These can be used to dispense funds off most networks that accept Visa or Masercard or the new Debit-Visa cards.


    Happy travels to anyone thinking of coming over for a look!
    1 Jan 2013, 10:37 AM Reply Like
  • Sub- Africa has two emerging economies. The first one, South Africa, has been well known for a good number of years. The second one is Mauritius, the island country situated on the main sea lanes connecting South Africa with South Asia and Southeast Asia.
    Mauritius is a country known for its economic freedom. It is often portrayed as an economic example for the struggling African countries to emulate. The country's economic expertise has recently been tapped for use as a conduit for Asian, European and American countries to indirectly invest in the Sub- Saharan region.
    6 Jan 2013, 05:41 PM Reply Like
  • Here are more in- depth looks at Mauritius' effort to serve as a financial middleman for the rest of the world regarding African investments, especially Sub- Saharan African investments.
    19 Jan 2013, 11:29 PM Reply Like
  • Mauritius has a well- rounded economy other than the overseas financial conduit business.
    It takes a particular interest in what resources the surrounding Indian Ocean has to offer with its dependent island territories. The country has kept its claim to the Chagos Archipelago located north of Mauritius toward India. The archipelago, due to its mid- ocean position, is home to an important American military base on the island of Diego Garcia.
    19 Jan 2013, 11:48 PM Reply Like
  • Mozambique is a coastal country with a promising amount of natural resources available for trading. It is in the process of arranging itself as a trade corridor for its northwestern inland neighbors, Malawi and Zambia. Malawi and Zambia are better known for their mineral reserves. The northern Mozambican ports of Nacala and Beira are now just recently in a position to receive them for export.
    6 Jan 2013, 07:40 PM Reply Like
  • There is some concern about economic nationalism in Mozambique and Malawi. That concern should best be weighed against their economic capacity to achieve prosperity for the long run.
    6 Jan 2013, 07:46 PM Reply Like
  • Mozambique has a developing mining sector offering gold, aluminum, iron, cement, gemstones and, perhaps most importantly, coal. There are some other geologic resources such as the mineralized sands along the ocean shore yielding titanium from ilmenite.
    6 Jan 2013, 08:19 PM Reply Like
  • Mozambique, like its East African coastal neighbors, is becoming known for its offshore oil and gas.
    6 Jan 2013, 08:32 PM Reply Like
  • Malawi now a railroad lifeline to the deep water port at Nacala. Nacala is favorably situated opposite of Madagascar about midway between the Kenyan ports and the South African ports.
    A slide show with page navigation arrows showing a project map is viewed at this link.
    The rail line between the port city of Beira to the inland town of Sena and then beyond to Moatize has been rebuilt. It is important for the coal transport coming down from the Moatize area for export. Work is being done to connect Moatize northeastward into Malawi with a new railroad. An existing railroad from the town of Sena northward into Malawi is being rehabilitated. Malawi will have a couple of more connections to the ocean going through Mozambique.
    6 Jan 2013, 09:19 PM Reply Like
  • Northern Mozambique will have improved business with the new railroad capacities. The Port of Beira will share in the business expansion.
    6 Jan 2013, 09:25 PM Reply Like
  • Malawi has a treasure trove of mineral resources. Rare earths in particular are being touted as a vehicle for economic development.
    6 Jan 2013, 09:40 PM Reply Like
  • Malawi provides the transportation corridor for neighboring Zambia. There is a new railroad connecting the two countries which, by extension, enables Zambia to more efficiently trade overseas via the rail line going to the ocean port at Nacala.
    6 Jan 2013, 09:56 PM Reply Like
  • The new rail link is excellent news for Zambia and its mines. More overseas trading will help the health of its currency and economy.
    6 Jan 2013, 10:02 PM Reply Like
  • In recognition of Beira's resurgent economic outlook, with its improving linkage with Malawi, Zimbabwe and Zambia and coastal oil resources, the city is playing host to an international shipping conference.
    20 Jan 2013, 01:12 PM Reply Like
  • Zimbabwe has been working on a economic comeback with some success in the last couple of years. Hyperinflation there has been halted with the adaptation of foreign currencies several years ago.
    7 Jan 2013, 04:33 PM Reply Like
  • The improving economy is working in favor of the mining industry.
    7 Jan 2013, 04:37 PM Reply Like
  • Zimbabwe has the distinct advantage of being a source for the very valuable platinum- palladium group of metals.
    7 Jan 2013, 04:47 PM Reply Like
  • Zimbabwe has been recently reconnected to the ocean port at Beira, Mozambique with the re- opening of the railroad from the border at Machipanda, Mozambique near Mutare, Zimbabwe.
    7 Jan 2013, 05:00 PM Reply Like
  • Author’s reply » Caledonia Mining (CALVF.PK) used to be a favorite of mine in Zimbabwe, but I got tired of waiting for Mugabe's reign of foolishness to end.


    John Polomny writes frequently about the company still.
    7 Jan 2013, 05:04 PM Reply Like
  • There are many news sources available regarding the threat and actuality of Zimbabwe's nationalization of resources. The news will need to be monitored for any investor interested in participating in the country's progress.
    7 Jan 2013, 05:13 PM Reply Like
  • The reconstructed railway connecting Harare, the capital of Zimbabwe, and the ocean port at Beira, via Mutare, must be significant. The rail line was closed for many years due to damages inflicted upon it in the 1980s Mozambican Civil War. It represents a key central corridor link within the Southern African Development Community of nations. If there is to be a recovery for Zimbabwe, the revived rail link to ocean trade will help.
    7 Jan 2013, 10:51 PM Reply Like
  • You really should come on over Valley Boy. Take the legendary trip from Cairo to Cape town for an eye opener on the state of the continent. There was a popular book by that title so I will post a link. Maybe you will pick it up for a good read and some extra insights.



    One thing I will say is that travelling here is not nearly as difficult as some portray it to be. It is nowhere near as dangerous as others suggest either. There are so many misconceptions it is aggravating to those who actually live here. It is meanwhile also an incredibly low cost place to visit (especially if you stay away from the big tourist attractions).


    I recommend Thorntree travel forum as a site you will want to visit for current up to the minute information on all aspects of travel there. The site is temporarily down but should be back in a months time.
    8 Jan 2013, 02:49 AM Reply Like
  • I like that idea, Abegaz, but I don't get around like I used to, wishing I was young again. So I'm just settling down in this role as a retired armchair geographer, vicariously traveling and marveling as I go along, dabbling in the bounty of information the internet provides.
    There is so much fresh news on the African Renaissance: more international trading with Africa, new railroad connections, new port expansions, new mining efforts, more wealth spreading amongst the populace, more avenues of communication, more opportunities to tackle the long term problems. Maybe more interest in Africa from American investors?
    8 Jan 2013, 12:00 PM Reply Like
  • Sorry to hear you can't make it. You could always try your hand at putting up your own blog centered on the business here though. An armchair guy might be just what gives African interests a little extra boost.
    8 Jan 2013, 01:45 PM Reply Like
  • Author’s reply » I agree Abegaz. I wish there was an aggregated news feed for investors for every country I go to like Mogi's Cover Mongolia in Mongolia. Aggregated news is something investors need going forward for frontier and emerging markets. It will help them quickly find the useful data they need.


    Cover Mongolia on Facebook:


    Cover Mongolia on Twitter:


    And you can also get Cover Mongolia in your e-mail.
    8 Jan 2013, 02:19 PM Reply Like
  • I think American investors will have a hand in Africa's progress eventually. We are more exposed to the news coming from the global emerging markets and a little more from the global frontier markets. But lately in the past several years most of us have been caught up in following one financial crises after another in the developed markets. One has to wonder where in the world is there growth?
    To help answer that question, here are some samples from another commentator on Seeking Alpha about some Sub- Saharan African countries.
    8 Jan 2013, 02:23 PM Reply Like
  • It sounds like that would be an interesting project to work on, Abegaz, regarding Ethiopia's economic prospects, perhaps in the same inquisitive spirit in which Jon devotes to Mongolia's potential. But I think your instablog on Ethiopia is well- rounded and insightful; I couldn't improve on it. There is nothing quite like living within the scene to get a good handle on local business conditions.
    There is actually a great deal of information regarding Ethiopia written in Seeking Alpha by now.;goto_search_tab=
    8 Jan 2013, 04:02 PM Reply Like
  • Author’s reply » 2nd link broken VB... maybe run it through
    8 Jan 2013, 04:28 PM Reply Like
  • Author’s reply » 2nd link broken VB... maybe run it through
    8 Jan 2013, 04:28 PM Reply Like
  • This might do it. It is just the search results for the term "Ethiopia" within Seeking Alpha.
    8 Jan 2013, 04:54 PM Reply Like
  • Author’s reply » that works... interesting...
    8 Jan 2013, 07:07 PM Reply Like
  • I really have to get around to writing that update about Ethiopia. Did you guys know for example that land leases start at the astonishingly low price of 8 dollars per hectare per annum? This price is up significantly from the 50 cents they were charging back in 2006.


    Hundreds of thousands of hectares of good quality Ag lands have already been let to some of the biggest agribusinesses around. Little guys are welcome too though if they have a minimum of 60,000 dollars in capital on hand. The whole continent is in the midst of the biggest land rush since the British (via the Hudsons Bay co.) parceled out Canada in the 1800's.


    I mean it is simply UNBELIEVABLE what is happening in Africa now that has hardly even registered in the North American media. Millionaires are being minted here on land that is as close to free as you can imagine and with the lowest labour rates on the planet.


    Only a fool could not make his fortune here if he tried.


    I know of multiple people planting everything from cotton to apple orchards to Mango, banana and sugar that are already enjoying the fruits of their success. The demand from most of the governments is that the products be destined for export. All of these African nations are working hard to bring in foreign reserves as fast as they can.


    Feeding the world is the key. They are simply building on their existing strengths as agricultural nations. A friend of mine from Italy has taken a 500 hectare plot for vegetables and peas. It is South of the capital in a prime growing region that gets more than 1000 milliliters of rain per year.


    Just try to imagine for a second seeing that much land devoted to carrots, tomatoes, garlic and pulses. It is pretty much mind blowing. He is making a fortune. Labour rates on the farm are costing him 2 bucks per day but he sells into markets that are competing at 5 to 7 dollars per hour.


    It is a no-brainer to come here for opportunity.
    9 Jan 2013, 01:21 AM Reply Like
  • Cheers to you, Abegaz, from California!
    9 Jan 2013, 01:22 PM Reply Like
  • Something to read this weekend:


    African real estate:


    More on Rwanda:
    11 Jan 2013, 06:21 AM Reply Like
  • Rwanda is working on its rail link to the Indian Ocean. The project is critical for its economic aspirations.
    11 Jan 2013, 04:32 PM Reply Like
  • A good description of Rwanda's economic development aspirations can be viewed at this link.
    11 Jan 2013, 04:35 PM Reply Like
  • Rwanda is importing machinery equipment and construction materials for their development efforts. The country is a source for tin, coffee and tea.
    11 Jan 2013, 04:44 PM Reply Like
  • With the railway project underway and with new energy developments such a methane source for energizing the power plants to business, Rwanda's trade statistics should improve in the years to come.
    11 Jan 2013, 05:12 PM Reply Like
  • Rwanda is enthusiastic about becoming a technology center which, by virtue of the country's central location, will tend to make it an economic magnet in a region made up of several countries.
    19 Jan 2013, 07:40 PM Reply Like
  • Would be very interesting if somebody here on SA could give a closer look on the Advance Frontier Markets Fund, a London listed closed-end fund with a 13.5% discount. Fund of funds dedicating approx 35% to Africa and 9% to cash.


    Africa 34.6%
    Botswana 0.8%
    Dem. Rep. of Congo 0.9%
    Egypt 1.8%
    Ghana 1.3%
    Ivory Coast 0.9%
    Kenya 1.6%
    Mauritius 1.5%
    Morocco 0.2%
    Namibia 0.5%
    Nigeria 9.9%
    Senegal 1.5%
    South Africa 2.1%
    Tanzania 0.3%
    Tunisia 1.7%
    Zambia 4.3%
    Zimbabwe 2.4%
    Other Africa 2.9%


    Update November:
    12 Jan 2013, 10:03 AM Reply Like
  • Author’s reply » What's the ticker?
    14 Jan 2013, 08:12 AM Reply Like
  • Bloomberg code:

    14 Jan 2013, 11:59 AM Reply Like
  • Author’s reply » Got it. Has had some dramatic moves down and up in the past year. Best bets for knowing about it are Wexboy ( and maybe John Polomny ( Sent an e-mail to Wexboy. Also might check with Steven Dotsch (
    14 Jan 2013, 01:03 PM Reply Like
  • Burundi has achieved relative peace in the past few years. Peace has enabled it to work on its business potential. The upcoming railroad network serving neighboring Rwanda will traverse through Burundi as well. The railroads will help reinforce the promised economic integration of inland Burundi with its East African neighbors.
    12 Jan 2013, 05:56 PM Reply Like
  • The East Africa region, gradually being integrated economically, is considered to be on a roll according to several studies.
    There are a number of trade shows emphasizing the region's potential. Some business blogs examine the details.
    Business must be good enough for the region to be considered for a spaceport.
    But have the steps taken against corruption there been effective?
    14 Jan 2013, 12:43 AM Reply Like
  • The East African countries work together on maritime security with the help of the US Africa Command.
    14 Jan 2013, 07:40 PM Reply Like
  • The economic development of the East African countries will continue to rely on the maintenance of peace in the Indian Ocean. It is hoped that the Indian Ocean Rim countries can determine mutual agreem