RCA Flag
RCA Flag
Connecting Africa’s Skilled Professionals
RCA Flag

ReConnect Africa is a unique website and online magazine for the African professional in the Diaspora. Packed with essential information about careers, business and jobs, ReConnect Africa keeps you connected to the best of Africa.

Library of Articles


African Stock Markets Posted Strong 2005 Performance


ImageAfrican Stock markets for the 4th year in a row posted strong performances in 2005. Egypt, for the second consecutive year, posted the highest returns in the world with the main market index gaining 162% in US dollar terms in that year alone. Economic and political reforms coupled with bullish oil prices were the main factors that underpinned this impressive performance. Zambia and Uganda were also very exciting markets during the year with index returns in US dollar terms reaching 116% and 81%, respectively.  (source: Databank Group, www.databankgroup.com)

Angola Private Investment Agency Launches Investment Magazine

ImageAgência Nacional para o Investimento Privado (ANIP) has announced the publication of Angola Magazine, a publication created to attract foreign direct investment.  With over 10,000 copies distributed world-wide, it will educate readers about the various market sectors, inform investors of the many opportunities in Angola, provide clear information about the latest developments among the legal aspect of investing, and highlight local culture and current events.

The publication highlights the legal aspects of investing and guides readers through the investment proposal process. The magazine also provides an informative look at the incentives within each market sector and geographic locations that provide a competitive advantage.

For further details please contact Ari De Carvalho, ANIP, at (244) (912 51 0963) or via email at aricarvalho@nexus.ao

International Financial Services Planned for Ghana

President Kufuor of Ghana has announced plans to establish an international financial services centre in Ghana by mid-2006. The ‘offshore’ banking centre would be set up as a joint venture between Government and Barclays Bank, and would be the first of its kind west of the Atlantic, the President said. A recent survey placed Ghana as the 22nd most attractive location worldwide for the outsourcing of financial services. With a growing domestic banking industry, Ghana has the potential to offer its banking services to companies abroad. (source: Databank Group, www.databankgroup.com)

UN Upbeat about Africa

The United Nations expects African countries to produce economic growth of 5.5% this year, following a year in which there was a 65% leap in the amount of foreign direct investment (FDI) into the continent. These were key findings of the UN's World Economic Situation and Prospects report, which showed that as growth in Africa increased from 5.1% in 2004, foreign direct investment climbed to $30bn from $18bn. However, even though the UN presented a relatively upbeat picture of Africa's improving economies, it cautioned that growth rates may still not be fast enough to meet the Millennium Development Goal of halving poverty by 2015.

"The aggregate rate of growth has remained below 7%, which the Economic Commission for Africa and World Bank estimates as the minimum needed to meet these goals”, it said.  This is despite the fact that Africa's 5.1% growth exceeded the overall 3% global growth.

But the increased levels of FDI, which typically see overseas companies buying into local operations, are an important aid to increasing growth in Africa.  There is still some scope for FDI into Africa to expand because, despite last year's 65% gain, the continent still only gets about 11% of the $278bn in FDI going to developing countries.

There were a number of reasons for Africa's improved economic performance last year, including progress in macroeconomic reforms and greater political stability. The UN said that efforts such as the African Peer Review Mechanism were likely to eventually confirm Africa as a desirable destination for FDI.

China is now Africa’s 3rd Largest Commercial Partner

Trade between China and Africa has quadrupled since 2000. China is now Africa’s third largest commercial partner after the US and France and the second largest exporter to Africa after France. A series of articles in the Financial Times has highlighted China’s involvement in Africa and its role in changing the pattern of trade and investment.  

From energy to metals, food and timber, China has had an “explosive” impact on the region.  Along with its exports of textiles, electronic and technology products to Africa, China has invested heavily in infrastructure on the continent as well as assisting with aid, debt relief and by providing specialists across a range of sectors.  Ethiopia’s President has described China as his country’s main development partner while, in the case of Zimbabwe, China is now its largest trading partner after South Africa.  Conversely, almost 30% of China’s oil supplies come from Africa and, in particular, the Sudan, Angola and Congo-Brazzaville. Source: www.asiantribune.com

East African Stock Market Integration Planned

The three East African bourses will integrate by year end through automated trading systems that will allow electronic trading. The automated trading systems will be installed at the Uganda Securities Exchange (USE), Nairobi Stock Exchange (NSE) and the Dar es Salaam Stock Exchange (DSE) to make trade faster and more efficient for investors. The automated systems project was started by the East African Securities Regulatory Authority in 1997 and will be a milestone in the integration of the region's capital markets. (source: Databank Group, www.databankgroup.com)

First Annual Private Sector Development Research Competition


The International Finance Corporation -- http://www.ifc.org -- of the World Bank Group and the Financial Times (FT) -- http://www.ft.com -- invite entries for the first international private sector development research paper competition for 2005-2006 -- http://www.ifc.org/competition. The theme is Business and Development: The Private Path to Prosperity. The competition seeks to promote the best thinking on the role of business in development. Papers should add to the global discussion on private sector development and economic growth by providing new and innovative analyses, perspectives, or ideas. All papers must be submitted in English and have a maximum of 4,000 words. Abstracts must have a maximum of 300 words. All entries must be received on or before June 30, 2006. Gold Award: US$30,000; 2 Silver Awards each US$15,000; 3 Bronze Awards each US$10,000.

Welcome to the new, upgraded ReConnect Africa website.
Please help us provide you with information relevant to your needs by completing the fields below (just this once!)