No. 14: 3 Wednesday AM Reads You Should Have Gotten Tuesday

  1. This piece on Jack Dorsey being named as CEO of Twitter while keeping the CEO reins at Square is pretty poor. How do you give recent examples of folks successfully running multiple companies without discussing what is enabling them to get this done? Yet, you reach back to 1990 to pull out a worst case situation, mention that Elon Musk and Carlos Ghosn say running two companies is hard and one should avoid it, and conclude that Jack isn’t listen to the right advice. The piece should have progressed something like: 1) This is a bad case from years ago. 2) Here are some more recent cases and reasons why they avoided the bad case from years ago. 3) This is really hard and not advisable for most. Since Jack is going forward with this, this is what he should consider.

  2. Growing up, my dad often talked about the unappreciated genius of artisans in Ghana. Ory Okolloh Mwangi and Bobby Pittman, among others have touted the huge potential of the creative industry across Africa. This piece discusses the Rwanda government’s efforts to invest in its creative industry with the help of the Swedes. In the mean time, check out Oxosi – a startup bringing high-end African fashion to the US. It should be launching soon.

  3. Here’s some interesting analysis of greenfield investments in Africa still being led by the western countries. On the other side of Africa-bound FDI, here is an interesting report from the Financial Times’ Africa Summit on how African countries will deal with depressed currencies, China’s slowing, and falling commodity prices (I saw $1.90 gas the other day, and my heart fluttered).

Business Exchange Encourages Business Deals Between Swiss and African Businesses

Business people from African countries and Switzerland will gather for the Fourth Swiss-African Business Exchange in Geneva this week to dig in and find ways to do business with one another. Exchange sessions will cover several topics including manufacturing, East African trade and investment opportunities and renewable energy.

The following manufacturers will make up part of the manufacturing panel and are sure to provide a solid on-the-ground perspective of manufacturing in African countries:

-Gary Hannam, Olivado Limited – avocado oil plant in Kenya
-Hans Peter Werder, HPW AG – dried fruit factory in Ghana
-Ramadhan Madabida, Tanzani Pharmaceutical Industries – pharmaceutical plant in Tanzania

Tony Hawkins, a professor at the University of Zimbabwe, painted a dreary picture of African manufacturing prospects. According to his assessment, South Africa generates 60 percent of the industrial output on the African continent. In the continent’s de-industrialization, Africa cannot compete with Asia which is producing high-tech products for the global market compared to the localized low-tech products African manufacturers are producing, according to Mr. Hawkins. Combatting this analysis are manufacturers like Nigeria’s Dangote Group which is successfully manufacturing rice, cement, flour, and other commodities for African countries. Dangote Cement’s initials will soon be scrolling across the London Stock Exchange.

Trade and investment opportunities in East Africa will be a topic covered by the following:

-H.E. Menilik Alemu – Ethiopian Ambassador to Switzerland
-H.E. Jacques Pitteloud – Swiss Ambassador to Kenya, Rwanda, Burundi, Uganda, Somalia, and the Seychelles.
-Professor Maggie Kigozie, Executive Director, Uganda Investment Authority
-John Gara, Rwanda Development Board

As Kenya, Rwanda, Uganda, and the Seychelles continue their rapid growth, Switzerland will need to invest in establishing embassies solely focused on each of these countries. Between 2001 and 2010, Rwanda was one of the ten fastest growing countries in the world. Ethiopia was one of the six African countries on that list and is projected to retain that spot for the next five years. For Switzerland to maximize business relationships with these countries, a focused presence in each will be essential to success. One ambassador is not able to develop the deep relationships and knowledge of these very different countries, in efforts to support all types of relations with Switzerland.

Executives in the renewable energy sector include:

-Felix Obada – Managing Director/CEO, Global Biofuels Limited, Nigeria
-Jorgen Sandstrom – Deputy Managing Director, Addax Bioenergy Management SA, Sierra Leone

On his visit to Atlanta, Kenyan Ambassador to the United States Elkanah Odembo discussed the effort Kenya is making to be primarily reliant on renewable energies like solar power and geothermal energy by 2030. The African continent has a lot of sunlight and strong rivers among other resources. The opportunities to harness that energy responsibly will make for a great discussion.

The exchange line up is sure to make for stimulating discussion and the initiation of business deals that will contribute to the economic growth of African countries. Click on the following link for more information on the Swiss-African Business Exchange: