Two inescapable trends have emerged over the past few years – one is that growth in the Southern hemisphere (including Africa) has been higher than the global average; and second, that a substantial volume of FDI destined for Southern countries is sourced from the South, rather than the North. In fact, capital infusion from the Middle East and Asia into credit-squeezed Western banks has reached over $30bn. There is little doubt that the balance of economic power is shifting to the South but the fact remains that the bulk of the South’s trade is still with the North. This is a dangerous strategy on which to base growth forecasts – as the economic slowdown in the West following the sub-prime fiasco clearly demonstrates. The South’s safest and most profitable strategy must be to rapidly increase trade volumes, investments, technology transfers and to form mutually supporting organisations.Two summits, one in Delhi and one in Port Louis, Mauritius, paid particular attention to the increasingly important issue of South-South cooperation. We feature both in our Cover Story this month. More...

The state of the telecommunications industry in Africa is characterised most strongly by continued mobile growth, with figures increasing between 50% and 60% a year. Limited fixed-line infrastructure and an information and communication-hungry market make it an attractive prospect for mobile operators. This, combined with an increasingly deregulated and liberalised sector across the continent, is making for an interesting and vibrant telecoms landscape. And with only a 20% penetration rate, the potential for growth remains high. In this Special Report, we look at the continuing growth of Africa’s mobile market sub-region by sub-region and how advanced technologies are now making their presence felt in the continent. We also take a close look at Mauritius as it bids to become a regional hub for ICT. More...

Taking a cue from De Beers diamond company, South Africa’s synthesised fuel colossus, Sasol, has ignored ‘the usual suspects’ and will distribute its black economic empowerment (BEE) largesse amongst ordinary South Africans. Tom Nevin Reports More...