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United Kingdom IC Publications 7 Coldbath Square London EC1R 4LQ Tel: +44 20 7841 3210 Fax: Admin +44 20 7713 7898 Editorial +44 20 20 7841 3211 icpubs@africasia.com www.africasia.com France IC Publications 609 BAT A 77 RUE BAYEN 75017 PARIS Tel: +33 1 44 30 81 00 Fax: +33 1 44 30 81 11 info@icpublications.com www.icpublications.com Group Publisher Afif Ben Yedder Directeur de la publication Editor Anver Versi a.versi@africasia.com Art Director Jason Venkatasamy jason@africasia.com Asociate Editors Tom Nevin Stéphane Vigouroux Gérard Choisnet Ridha Kefi Hichem Ben Yaiche Fériel Berraies Guigny Correspondentat-large Stephen Williams Editorial Assistant Carole Lambert Corespondents in Africa Barnabas Thondlana Leo Odera Omolo Blamuel Njururi Herald Tagama Pini Jason John Ansah Derek Otieno Chris Ndivanga Masupu Rakabane Special Corespondents Moin Siddiqi Dr Karamo Sonko Neil Ford Pini Jason Eluem Izezi Subscriptions: IC Publications PO Box 2068 Bushy, Herts, WD23 3ZF Telephone: +44 20 8950 9117 Fax: +44 20 8421 8155 icpublications@alliancemedia.com www.africasia.com/subs See page 17 for subscription offer details.

Publisher Omar Ben Yedder o.benyedder@africasia.com GENERAL MANAGER Leila Ben Hassen l.benhassen@africasia.com Development Director Patricia Bonnin GROUP Sales Director Tibor Fuchsel t.fuchsel@africasia.com Advertising Sales Directors Medrine Chitty Elisée Marie Nacire Sayeh Ndiana Matthew Nick Rosefield Ghana Ofice: Nana Asiamah Bekoe Tel: +233 21 258058 kwabusek@gmail.com GHANA – SPECIAL PROJECTS Silvia Salvetti Tel: +233 24 910 5995 top@topreports.org SENEGAL OFFICE Nathalie Desanti-Tounkara n.desanti@africasia.com Mobile: +22176 51 51265 SALES & Distribution Santosh Jairajh PRODUCTION MANAGER Sandra Segade-Hermida IC EVENTS Anna Rosenberg a.rosenberg@africasia.com Printers Headley Brothers Ltd The Invicta Press Queens Road, Ashford Kent TN24 8HH All pictures AFP unless indicated. Registered with the British Library ISSN 0141-3929 ©2010 IC Publications Ltd

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N° DE COMMISSION PARITAIRE 0310 K 89343 Mensuel: Novembre 2010 Dépôt légal

Contents

African Business November 2010 Issue N˚369

12 Cover Story Africa opens new gateway to global capital

24 Special Report: Telecoms Moving up to the next level

46 Nigeria Reform, reform, reform

Editorial 11 Give me conferences of achievement

Cover Story Africa opens new gateway to global capital 12 Continent’s first commodity and currency exchange 15 Modernising an ancient system 16 How the exchange works 18 The techno-whizz who shook a nation

Commodities 20 Metals go from strength to strength 22 South Africa explores for rare earths

Special report Telecoms – Moving up to the next level 24 A maturing market 28 World warms to Africa’s mobile banking model 29 Gateway – Joining up Africa 30 The African telecoms superstars 34 New products in the African market 36 Glo opens up the Internet 38 Bharti Airtel, IBM deal to transform

African connectivity 40 E-Commerce – Tailor-made for Africa?

Event African Banking Awards 2010 42 Banking on success

Spotlight Nigeria 46 Reform, reform, reform

Education 50 Zimbabwe’s private schools boom

Publishing 52 E-publishing to revolutionise

Africa’s reading?

Country Files 56 South Africa: Textiles –

between a rock and hard place 58 Zimbabwe: The world’s best gold-mining region?

Reviews Books/Music 62 TheOtherSideofInnovation 64 50 Years of Independence Music 66 RainySeasonBlues