Archive for the 'Business' Category

Accounting for your business

Published on May 1, 2007 in Africa, Business, Opinions, Reviews and Solutions. 0 Comments Tags: , , .

[Nairobi, Kenya]
THERE’S NO escaping the fact that accountants are necessary in today’s fast-paced business world. Heck, if you want your company to fly high and operate smoothly without crashing into the jagged rocks of oblivion below, then you have no choice. Right?Survival of the fittest
Now, I assume you know that all accountants are not created equal. Actually, if your accountant is behind the times in terms of understanding or applying ICT solutions in a business setting, then I suggest you throw him/her to the wolves lest you loose your shirt. Why? Because the accountants at your main competitors are probably up to date on the latest ICT applications, which translates into a smooth running operation for their bosses. As you can see, this is no laughing matter.Julius speaks your language
Okay, so what’s next? Well, if you want to stay ahead of the accounting curve, then I suggest you take a peek at Julius Gakure’s blog, Julius Speaks. Here’s the url if you have a good memory: http://JuliusCPA.BlogSpot.com. Oh, this dude is a professional accountant in Nairobi for, arguably, Africa’s biggest insurance broker. In addition, he’s not afraid to open up a PC to fix any hardware problems. This is exactly the kind of versatility I like in a professional. Heck, he’s a number cruncher who eats, sleeps, and drinks anything & everything to do with accounting. But what I like about him the most is that he’s also aware of what’s going on in the realm of ICT, which is really just a tool to be utilized in the right hands.

Anyhow, here are a few of his posts that might be of interest to you:

Corruption, be gone!
One other thing. This dude really hates corruption and provides some excellent insights on how proper accounting practices can reduce or eliminate this. Just take a peek at this:

Further, it can be argued that, accountants are already among the best-equipped group of professionals through their training and experience to participate in a major way in the fight against corruption. As Accountants, auditors or consultants they are trained to put in place good (internal control) systems to prevent corrupt practices and to detect weakness in existing systems. Further, their training can come in hardy in giving early warning of corrupt dealings in organisations and also in following audit trails to uncover corrupt deals and to catch the perpetrators.

What it all boils down to is that however much we might want to pretend otherwise, accountants are right in the middle of the corruption saga; either in what they have actually done or failed to do or in what the man in the streets perceives them to have done or failed to do. {source}

Comments?
If you have a comment or would like a question relating to your accounting scenario answered, then don’t look at me. I don’t count beans. :-) Instead, I’d fire an email off to Julius at JGakure[at]GMail.com.

Happy accounting!

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Business Opportunities in Africa 2

Published on April 26, 2007 in Africa and Business. 0 Comments Tags: , .

[Nairobi, Kenya]
THE TIME is now to get the show on the road here at Go Africa go! By now, you know that Africa is the place to be since business is booming. Right? Well, what’s holding you back? It’s time for you, fellow citizen, to pull your socks up and get that business you’ve been talking about started. Now! What, you have no ideas on what to start?

Okay, then try this idea out – courtesy of Yahoo’s amazing small business portal. Heck, there’s more information here than you can shake a stick at. Go Yahoo go!

Do My Stuff and Get Paid
By Sarah Pierce – Entrepreneur.com

Who: Darren Berkovitz, 23; Omri Cohen, 24; Stacy Stubblefield, 25; David Gonen, 26
What: DoMyStuff.com, an online marketplace that outsources chores, errands, projects and other tasks to local help
Where: Beverly Hills, California

Like most people, Darren Berkovitz and his partners were experiencing a common dilemma: too much to do and not enough time to do it. They did, however, find the time to create a solution. The result is DoMyStuff.com, an online community where busy people can quickly find assistants to handle their errands and tasks. “Outsourcing is a huge buzzword right now,” says Berkovitz, who owns an internet incubating company with Omri Cohen, Stacy Stubblefield and David Gonen that outsources projects to other businesses. “We thought, we outsource so many things, why not outsource our daily tasks?” {source}

Well, have you decided what business you’re gonna start in order to take advantage of the booming economy right in your back yard? No more procrastinating. Okay? :-)

Your thoughts?
Please don’t hesitate to leave a comment here. I’m curious to know what you’re thinking with regards to starting a business here in Africa. Who knows? Maybe I’ll be able to provide you with some quick tips or advise.

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Cotton: World’s Most Toxic Crop

Published on April 23, 2007 in Africa, Business and Opinions. 2 Comments Tags: , , , , .

[Nairobi, Kenya]
THEY SAY humans are the most intelligent creatures on the planet. Perhaps so. What’s shocking, though, is how the majority of the world’s population allow certain toxic industries to flourish. I’m talking about industries that pollute our fragile environment every day — especially when greener alternatives exist. You need an example? Cotton farming. Hemp could replace this crop while making our world a cleaner, more livable place over night.

I will leave you with this article (see Google cache) below, courtesy of the Washington Free Press, which is a “bi-monthly newspaper from Seattle highlighting labor and environmental issues. Emphasis on local issues, with some national and world-wide news.” It’s based in the beautiful state of Washington (USA.), which is located in the Pacific NorthWest — a region with tons of avid green citizens who love the outdoors. Cities such as Portland, Beaverton, Vancouver, Seattle, Olympia and Tacoma are located here. By the way, don’t forget to take a peek at an earlier Go Africa go! blog post I wrote last month in Tanzania: Hemp Farming in Africa: A Billion Dollar Industry? After you read it, prepare to be very angry. You’ll also realize that Africa could be raking in billions of dollars simply by growing hemp.

Dude, why’re you wearing that shirt?

Cotton: World’s Most Toxic Crop
by Organic Consumers’ Association

Cotton is the most toxic crop on the planet. While only three percent of the world’s farming acreage is cotton, these crops are sprayed with up to 25 percent of the world’s pesticides and herbicides, including some of the most toxic ones, such as aldicarb. And of course cotton is present in many other consumer products besides garments–food products, tampons, bandages, baby diapers, mattresses, bed linen, etc.

According to www.sustainablecotton.org, “the simple act of growing and harvesting the one pound of cotton fiber needed to make a T-shirt takes an enormous toll on the air, water, and soil, not to mention the health of people in cotton growing areas. The cotton grown for just one T-shirt requires a third of a pound of agricultural chemicals.”

Moreover, some 60 percent of a cotton crop, by weight, enters the food chain in the form of cottonseed oil which is used widely in processed foods, and as cottonseed feed for cows, ending up in meat and dairy products. The pesticide residues from these cottonseeds concentrate in the fatty tissues of these animals, and in turn are passed on in meat and dairy products to consumers.

Genetically engineered (GE) cotton is another problem. Playing on concerns about pesticides, Monsanto has pushed GE cottonseeds onto the market in more than a half-dozen countries as the “green alternative” for cotton growers. In terms of human health hazards, herbicide-resistant GE cotton plants–and their oil and seed derivatives–contain foreign proteins, bacteria, viral promoters, and antibiotic resistant genes–food ingredients that humans have never eaten before. These GE plants and their derivatives are unlabeled and untested for hazards to human health and the environment. Over ten million acres of genetically engineered cotton are now being grown across the US. These cotton plants are gene-spliced so that the cotton plant emits its own pesticide, or else the plant is genetically engineered to be able to survive mega-doses of powerful pesticides.

Biotech cotton is a mortal threat to organic cotton farming, the real “no pesticide” alternative. This threat is two-fold. First of all, it is a source of genetic pollution (like GE corn or canola), spreading its altered DNA. Even worse, it is slowly but steadily building up resistance among cotton pests, creating the preconditions for cotton superpests to arise.


Oh…
Don’t forget to post a comment. Tell us what you think.
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Watch out for the US dollar

Published on April 18, 2007 in Africa, Business and Opinions. 1 Comment Tags: , , .

[Nairobi, Kenya]
ONE THING that businesses in Africa have to be weary about is the state of the US dollar. Why? Because a lot of transactions (tourism, import/export, etc.) are conducted in said currency. There’s an old wise saying in business: “Buyer beware.” Well, I feel this saying is soon going to take on greater significance as the US dollar continues to lose ground to other major currencies: “Hey, can you pay me in Euros?“ :-) What, you think I’m kidding around? Well, take a peek at this.

The dollar hit a 26-year low against the British pound and neared an all-time trough versus the euro on Wednesday as expectations of U.S. rate cuts contrasted with prospects for more monetary tightening in other countries.

The dollar was down across the board, hitting a 22-year low versus the New Zealand dollar on Wednesday and holding near Tuesday’s 17-year low against the Australian dollar.

The fall in the dollar was exacerbated by below-forecast U.S. core consumer prices for March released on Tuesday. The U.S. data contrasted sharply with a jump in UK consumer prices that stoked expectations for a rate hike, driving sterling above $2 for the first time since 1992 when Britain was forced to exit the Exchange Rate Mechanism, and then higher still to levels last seen in 1981. {source: Dollar takes pounding, 26-year low}

Signs everywhere
Look at it this way. China and India are 2 economies that are booming due to their exports to the US. This means more US dollars are leaving the US, which also means that more of said currency is held in other countries where it was not originally printed. So now, who do you think has more influence over the US dollar…Americans or outsiders? Okay, here’s some more food for thought on why the US dollar is going to the dust bin.

So people cast doubt on the “dollar-devaluation” theory. They found that the root cause behind the sharp rise of US trade deficits was not the greenback’s high exchange rate, but the extremely low bank savings rate of Americans who excessively spend future money on current consumption. The comparatively weak demand for US goods in some sectors of the world market is also to blame. {source: RMB no scapegoat for US woes}

Oh, don’t forget about that huge national US debt which is now hovering close to $9 Trillion. Yes, I said TRILLION. Furthermore, with more manufacturing jobs moving over to Asia, this means that a lot of good income paying jobs are being lost only to be replaced by low-paying, service-oriented jobs.In closing, my advise to African businesses is to start looking for an alternative currency to replace the US dollar when dealing with foreign transactions. Heck, don’t be afraid to ask if you can be paid in Euros, Swiss Francs, or British Pounds. Why should your business suffer just because American politicians have mismanaged the US economy. :-)

Here’s hoping to a very profitable future for all businesses throughout Africa.

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Related links:

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Business opportunities in Africa 1

Published on April 14, 2007 in Africa and Business. 2 Comments Tags: , .

[Nairobi, Kenya]
ONE THING that’s exciting about being in Africa is that you get a bird’s eye view of the plethora of business opportunities that exists right now. It just boggles the mind. Anyhow, I was just reading an interesting article over at the International Herald Tribune, which is one of my favourite news site on the planet. This is probably due to the well-written, objective articles that are published over there.

Retirement homes in Africa?
Why the heck not? If you’re into real estate or the health care industry, I would suggest you take a serious look at the lucrative field of retirement nursing homes. Take a peek at this:

Old age in Europe is not what it used to be. Traditionally, Spanish seniors like Feliz had few alternatives. They stayed with their family, or those who were utterly alone would check into hospital-like residences run by nuns. But now, adult children with demanding jobs are less inclined or able to care for parents, even in Mediterranean countries with tight-knit families. Seniors themselves are demanding more independence in the lengthening, post-retirement stage of life.

In Norway, the Netherlands and Denmark only 1 of 25 elderly people lives with their offspring, according to a 2006 report on long-term care by the European Commission and the American Association of Retired Persons.

Meanwhile, demographics are shifting: By 2050, people over 65 are forecast to make up one-third of the EU population, a jump from 16.5 percent today. As the old safety nets erode, European states are searching for formulas to reduce health care and retirement costs in the face of strong demand for services. {source}

Now, it doesn’t take a rocket scientist to figure out that labour, property (land, construction), and food costs are considerably less in Africa compared to expensive Europe. In addition, retirement homes over there (Spain too) aren’t able to offer their customers scenic tours (to see exotic animals, landscapes, mountains, etc.) to some of the best tourist attractions on the planet. Right? In other words, this industry has huge upside potential. Any takers? :-) By the way, my mother works for Central Park Lodges in Ottawa, Canada. Incidentally, they have been aggressively buying out smaller retirement nursing homes over the past 10 years throughout Canada and the USA. She has been with Beacon Hill Lodge since the mid 1970s, but they became a buyout target around 2000 or so.

Happy investing!

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Ghana takes a backwards view on hemp

Published on March 28, 2007 in Africa and Business. 0 Comments Tags: , , .

[Dar es Salaam, Tanzania]
WHEN I WAS in grade 11, I wrote an essay titled Were the Middle Ages a Backward Period in the Development of Western Civilization – as has Traditionally been Thought of & as the Very Name Implies? That was for my Ancient Greek & Roman History class taught by the brilliant Mr. John Patton who kind of looked like Aristotle. :-) Actually, we were given a sheet with about 20 topics or questions to choose from. In said essay, I vividly remember stating that “trade and commerce – the hallmark of an advanced civilization – were virtually non-existent.” This was simply proof to show that the Middle Ages were a backward era. No arguments there.

Et tu Ghana?
Well, it appears that the power brokers in Ghana’s government have decided to take a trip to the Twilight Zone of backwardness. Just take a peek at this folks:

For the sake of our indigenous Africans in Ghana and throughout the continent, who haven’t been exposed to countless literature and medical journals that herald the Hemp plant, I will quote a passage that clearly states the truth that your politicians and lawmakers conceal, as to the real reason why so much energy is wasted criminalizing this God-given plant.“The reason the Weed is outlawed is only ostensibly about health. The truth is the Weed is no more addictive and no more a health risk than cigarettes or alcohol, both of which are protected by the law. Why is it then not allowed? Because if it were grown, half the cotton growers, nylon and rayon manufacturers, and timber products people in the world would go out of business. Hemp happens to be one of the most useful, strongest, toughest, longest lasting materials on the planet. You cannot produce better fiber for clothes, a stronger substance for ropes, an easier-to-grow-and-harvest source for pulp. Instead we cut down hundreds of thousands of trees per year to give ourselves Sunday papers, so that we can read about the decimation of the world’s forest. Hemp could provide us with millions of Sunday papers without cutting down one tree. Indeed, it could substitute for so many resource materials, at one-tenth the cost. And that is the catch. Somebody loses money if this miraculous plant, which also has extraordinary medicinal properties, incidentally is allowed to be grown. That is why marijuana is illegal in your country.”

{source}

By the way, we’ll have to assume Ghana’s politicians have viable alternatives to creating wealth for its poor farmers that would rival hemp’s unlimited possibilities. Right? I doubt it. Now why do I get this sneaking suspicion that some powerful outside institutions have the hands of this government tied behind closed doors. After all, doesn’t Ghana depend on aid and favourable trade benefits from some Western governments in order to progress? Hmm…I wonder who sold out. [Read more]

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South African government speech on hemp

Published on March 28, 2007 in Africa and Business. 4 Comments Tags: , , .

[Dar es Salaam, Tanzania]
GOD bless South Africa. Now there’s a country with leaders who are forward-thinking when it comes to legalizing industrial hemp. It’s obvious that they see billions (in dollar$) of reasons to grow said plant. I urge you to take a peek at this amazing speech. Here’s a teaser to whet your appetite:

Tonight, we are here to celebrate the first retail and marketing outlet to be established by Hooked on Hemp SA, a black owned small business which acts as convenors of the Human Resource Development programme in the National Hemp Initiative. Ultimately, it is hoped to roll House of Hemp out to the Eastern Cape, Western Cape and KwaZulu-Natal, the three provinces where hemp grows the best in South Africa.

The products you will see this evening at the House of Hemp will surprise you in their diversity, ranging as they do from men’s and ladies’ fashion wear through to home d?r, stationery, building materials and beauty and health products. All manufactured from hemp, they are produced for House of Hemp by small scale entrepreneurs from previously disadvantaged communities, with the assistance and support of the CSIR. {source}

Go South Africa go! [Read more]

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Legal hemp for Malawi?

Published on March 28, 2007 in Africa and Business. 0 Comments Tags: , , .

[Dar es Salaam, Tanzania]
THIS is an old article but it’s still relevant today as many African governments grapple with the issue of permitting hemp to be grown for it’s many industrial uses. I think this is part of the problem:

Only S. Africa and a couple of other more independent African nations have any type of hemp production. The main reason for this is the policy of the United States
which demands, along with many other strings and conditions, a total ban on hemp
production before giving ‘aid’, massive bribes to officials, or millions of dollars worth of military equipment to brutally put down popular uprisings.

Quite frankly, the choice of raking in billion$ of dollar$ in legitimate foreign exchange is a no brainer to me. What about you? [Read more]

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Tanzania Pursues Aggressive Tourism Plans

Published on March 24, 2007 in Africa, Business and Travel. 3 Comments Tags: , , , .

[Dar es Salaam, Tanzania]
ONCE YOU VISIT TANZANIA, you really don’t feel like leaving so soon. This country just grows on you. Why? Because there are tons of beautiful places, sites, parks and exotic beaches to visit. For example, when I was staying in Zanzibar, I had the pleasure of hanging out at Cholos beach bar (see pic below), which is a popular beach bar known by all the tourists. This place is sooo relaxing due to its beach setting and funky layout among the tall beach trees. And that’s not all. I’d say TZ has got to be one of the safest countries in all of Africa. Well, that’s the general word on the street from talking to other tourists, business peeps, expat hotel staff members, backpackers, etc.
Less is more…
Also, you just don’t see those crazy (almost shocking) front page horror stories that you read in most other newspapers or see on the idiot box (er TV) in other parts of Africa. I’m serious folks. To me, that’s very refreshing. Yes, life isn’t perfect here and crime does exist, but not at “those” levels, and the frequency is considerably less. Perhaps it has something to do with the laid back persona of the typical Tanzanian which, by the way, is well known outside the country. I also noticed this in their police officers, too, which is a good thing. Try that with most cops in Kenya. lol. I’m sure that Julius Nyerere (pics), Tanzania’s legendary humanist founder and inclusive socialist leader, has a lot to do with the country’s remarkable vibe. Yes, I’ve never met him, but I LOVE him tremendously. Any how, if TZ keeps up this track record, there’s no doubt that Dar will eventually replace Nairobi as the economic hub of East Africa. Heck, have you seen all the construction going on in this city lately? Something’s definitely cooking – economically. :-)

Mo’ money…
Most importantly, the country will be rewarded handsomely where it matters the most: At the ca$h register as tourists the world over flock here to explore its many treasures. Now, judging from this article below, the government is serious as hell about increasing earnings from tourism to the tune of US $3 billion per year starting in 3 years time. Wow, that’s some serious coin. :-) As such, this makes yet another excellent Go Africa go! story because it highlights that tourism is going to be an even bigger income earner in the future, which translates into excellent business opportunities for those who cease the moment.

Article: Dar to increase Tourism Earnings
Source: Daily News (Tanzania), 22 Feb 2007, Home News, pg 2
By: Charles Kizigha
The government plans to carry out an aggressive tourism promotion campaign to
increase the earnings from 700m US dollars (about 900bn/-) to 3bn US dollars (about 4tr/-) accrued from the sector a year in the next three years. The campaign will involve advertising the country’s tourism potentials on the America TV channels CNN and CNBC and also making sure there are direct flights to Tanzania from the US and Europe.

Minister for Natural Resources & Tourism, Prof. Jumanne Maghembe, said this yesterday before flying to the US for a ten-day official visit, where he would hold talks with CNN, CNBC, and Delta Airlines top officials and eventually sign contracts. He is leading a six-man delegation. He said that the government intends to spend 500m/- in the first six months to advertise on CNN and CNBC with an intention of targeting the US and Canada markets.

Prof Maghembe said that Tanzania would display a series of brochures showing the country’s tourist attractions at the New York Times exhibition and a presentation will be conducted to selected travel agents and tour operators who feature Tanzania as a tourist destination. He said that the team would hold talks with Delta Airlines officials in Dallas on operating direct flights to Tanzania from the US. The minister said that the
tourism promotion is being carried out simultaneously with hotel expansion programme in order to cope with the anticipated increase of tourists from the current 612,000 a year to one million by 2010.

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Bee products buzzing with potential

Published on March 23, 2007 in Africa and Business. 0 Comments Tags: , .

[Dar es Salaam, Tanzania]
WOW, it’s simply amazing the variety and diversity of business opportunities that exist right here in Tanzania; in fact, all of Africa. It truly boggles the mind. Now, according to this short newspaper clipping (see below), Tanzania’s bee products possess “unique organic qualities” that rivals the best in the world. Well, I hope some visionary entrepreneurs (local or foreign) take Mr. Pamba’s enthusiastic message about said opportunities, and begin to get the wheels of bee commerce in motion. Ya know, this is the kind of story that gives you a “goood buzz” without having to crank open a Kilimanjaro beer. :-) Once again, this is excellent Go Africa go! material. If you have any such stories, please email them to me at MaxTheITpro[at]GMail.com. I assume you know to put an @ in place of [at]. Right? That’s to prevent web spiders (robots) from collecting my email address in order to send me junk (er spam), which I don’t care to entertain.

Article: Call to exploit the potential of bee products
Source: Daily News (Tanzania), 22 Feb 2007, Home News, pg 2
By: Daily News Reporter
Permanent Secretary in the Ministry of Natural Resources & Tourism, Mr. Saleh Pamba, has challenged the country’s business community to exploit the export potential of bee products available in Tanzania. Opening a meeting of honey and beeswax stakeholders in Arusha, yesterday, he said that Tanzania’s bee products could be the most competitive in the world market due to its unique organic qualities.

Mr. Pamba, however, told the stakeholders that investment is required to improve production technology and marketing. At the moment the production of honey and beeswax in Tanzania is 5,600 and 600 tonnes respectively. This genearates 8.6 million and 1.6 million US dollars. It is estimated that the productive potential of bee products in Tanzania is about 138,000 tonnes of honey and 9,200 tonnes of beeswax per annum.

Mr. Pamba said that many African countries, including Tanzania, have realised that, if made a priority in terms of the allocation of human and financial resources, the beekeeping sector could contribute immensely to poverty eradication and environmental conservation. The meeting was organised under the auspices of ApiTradeAfrica, a business association that will coordinate and stimulate production and marketing of quality honey and other bee products from African countries.

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