Updated: 5/16/2006; 10:03:22 AM.

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daily link  Saturday, February 16, 2002


South Africa is investing in Africa:

"Shaking off decades of apartheid- era isolation, South African executives, both black and white, are moving north to buy struggling banks, rebuild rundown railways and bring first-world technology, including cellphones, cash machines and locomotives to an impoverished continent.

South African businesses are running the national railroad in Cameroon and will soon run Madagascar's. They are managing power plants in Mali and Zambia. They are brewing local beers in Mozambique and Ghana. They are the leading providers of cellphone service in Nigeria, Uganda and Cameroon. They control banks and supermarkets in Tanzania, Mozambique and Kenya. "

Their cellphone network, MTN, has 300,000 subscribers in Nigeria (compared to 400,000 for Nitel), and 137,000 in Cameroon.

 

  11:53:39 PM  permalink  

 

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Last update: 5/16/2006; 10:03:22 AM.