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The Delamere-International Newsletter ©

Edition of 31 May 2004 #135


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IN THIS ISSUE

1. Business: Be warned when you do business in Africa
2. Business: Democracy spreads across Africa
3. Business: Investing in Africa
4. Business: Our farmers in Kenya are suffering
5. Business: Political change in view for Kenya
6. Business: South Africa and the challenge of the next 10 years
7. Business: South Africa hosting the world cup in 2010
8. Business: We are about to lose our farm?
9. Business: What about the poor in Zimbabwe?
10. Education: African Art
11. Education: Aids in Africa is much worse than originally thought
12. Immigration: What can you do to help stop the flow of illegal aliens into the USA?
13. Real Estate: The Pro's & Con's of investing in property
14. Real Estate: Is it financially secure to buy a property in the Cape?
15. Real Estate: Is investing in property a safe bet?
16. Travel: Beware of the dangers of visiting Africa
17. Travel: Highlights of a visit to Kenya
18. Travel: When you want to walk around England, Be Warned


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1. Business: Be warned when you do business in Africa
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The chief architect in the Goldenberg scandal, Kamlesh Pattni said he offered former president Daniel Moi 50 percent share in Goldenberg International Ltd in order to get the hiked export compensation and monopoly for Gold and Diamond export. To read this report, go to our NEWS DESK link.


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2. Business: Democracy spreads across Africa
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JOHANNESBURG, SOUTH AFRICA - As South Africa celebrates 10 years of democracy Tuesday - with grand festivities and speeches by everyone from Nelson Mandela to Tony Blair - it also marks the continent's progress on the path toward political freedom.


Forty-three of the 48 countries in sub-Saharan Africa have held at least one multiparty election during the past decade, compared with 1990, when just three were solidly democratic. To read the full report go to our NEWS DESK link.

 

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3. Business: Investing in Africa
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Africa's problem can be summed up in a single sentence. Despite its huge size and its population of more than 800 million people, Africa receives less than one half of 1 per cent of the total amount of money invested globally in foreign enterprise.

Foreign investment amounts to billions of dollars worldwide every year, but time and again multinational companies are choosing to invest in areas like South-East Asia and Latin America instead of Africa. To read the full report, go to our NEWS DESK link.

 

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4. Business: Our farmers in Kenya are suffering
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In Kenya, a group of more than 10 organizations has launched their part of a campaign to convince world leaders to reform global trade rules to enable farmers in developing countries to benefit from international trade.

The chairman of the Kenya National Farmers' Union, Nduati Kariuki, tells us that fair trade, not charitable donations, is the way to help the struggling farmers and economies in developing countries. He says farmers in countries such as Kenya lose out the most in the current international trade system. To read the full report, go to our NEWS DESK link

 

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5. Business: Political change in view for Kenya
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THE chairman of the Human Rights Commission of Kenya, Prof. Makau Mutua has said he expects President Yoweri Museveni to step down after his constitutional term to pave way for total transition from the movement to multiparty politics. "I hate to see what will happen to this country when a political gap develops. I hope this will be President Museveni's last term and he will not seek another one so that political parties are set free and full democracy restored," he said.

To read this full report and how it will affect your investment attitude toward Africa in general, please read our full report; go to our NEWS DESK link.

 

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6. Business: South Africa and the challenge of the next 10 years
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It's an old truism that South Africa is a land of two realities. It has never been more than a short drive from lush gardens and shopping malls to tin shanties and open sewers.

Today, the contrast remains blatant, even if many of the shanties have been replaced by matchbox houses, and the well-dressed shoppers in the malls are no longer exclusively white. To read this full report from the BBC, go to this link


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7. Business: South Africa hosting the world cup in 2010
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South Africa's economy will get a direct boost from hosting the 2010 Soccer World Cup, but the likely financial spin-off of its improved image abroad may have a much bigger impact, economists say. To read the full report, go to our NEWS DESK link.

 

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8. Business: We are about to lose our farm in Namibia?
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The Namibian government has taken the first steps in its plan to acquire white-owned farmland. At least three farm owners are reported to have received letters asking them to enter into negotiations for the purchase of their land. To read the full report, go to our NEWS DESK link.

 


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9. Business: What about the poor in Zimbabwe?
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Mugabe's private mansion in the suburb of Helensvale, near Borrowdale, has been under construction for the past five years and is now expected to cost more than US$25-million when completed. (ZIM$ ?????)

Mugabe is now facing calls to disclose where he has been getting the foreign currency to purchase all the imported materials for his house particularly after the arrest of his finance minister, Christopher Kuruneri. Kuruneri is in jail after being arrested for illegally exporting foreign currency to South Africa where he is reportedly building a R30-million mansion in Cape Town. To read the full report, go to our NEWS DESK link.

 

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10. Education: African Art
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Drawing on its extensive collections, the National Museum of African Art in Washington, DC has created this online exhibit to showcase the work of nine contemporary artists.

This ensemble approach essentially reveals the nuances of the artistic process to visitors, and demonstrates the interplay of experimentation, continuity and change in each artist's subjects and materials. The artists here represent just a fragment of Africa's many cultural traditions, but their range of media is quite diverse, including film, fabrics, oils, and various sculpting materials.

One artist whose work visitors will want to take a look at on the site is Iba N'Diaye, a Senegalese painter whose love of jazz informs much of his work, especially paintings such as Hommage a Bessie Smith.

Another such artist is the late Ezrom Legae, a South African sculptor and draughtsman who used his art to offer visual commentaries on the system of apartheid that was used to dominate blacks throughout his country until the 1990s. Visit this site


From The Scout Report, Copyright Internet Scout Project 1994-2003


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11. Education: Aids in Africa is much worse than originally thought
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The long-term economic and social cost of Aids has been seriously under-estimated, according to the World Health Organisation (WHO).


The WHO's recently-published World Health Report says some African countries could face economic collapse unless the Aids pandemic is controlled. To read the full report, go to our NEWS DESK link.

 

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12. Immigration: What can you do to help stop the flow of illegal aliens into the USA?
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To read this enlightening report, go to our NEWS DESK link.

 

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13. Real Estate: The Pro's & Con's of investing in property
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Interest rates are going to rise, both in the US and at home, but the burning question is, when?

All this wild talk about stock markets - and the bearish readings they've been giving - has undoubtedly been part of the reason for the headlong rush into property. To read this very informative report, go to our NEWS DESK link.

 

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14. Real Estate: Is it financially secure to buy a property in the Cape?
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The Western Cape in South Africa could be the riskiest province to buy a home in, says international risk-rating organisation Fitch.


Fitch structured finance analyst John Paterson said at the Institute for International Research's mortgage and home loans conference this week that prices in the Cape were likely to fall as much as 49% in a serious (AAA) property recession (see graphic). In a mild (B) downturn they could fall by 26,3%. To read this report, go to our NEWS DESK link



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15. Real Estate: Is investing in property a safe bet?
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According to a recent report from a client in South Africa, many have made great profits, but many have also lost heavily, we suggest that you consider these facts from South Africa. Buying a residential property at the bottom of the market could translate into rising prices and capital gains when it firms. Latest data from ABSA indicates that real growth in house prices is at a whopping 20% year-on-year.

Conversely, buying when the market has peaked could mean plunging prices and capital losses. And it usually means that properties are hard to sell, even at reduced prices.


The answer lies in understanding that property is localized and that the real- estate cycle is at different stages in different areas. Indeed, you can even lose money on your property in a boom. To read the full report, go to our NEWS DESK link.



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16. Travel: Beware of the dangers of visiting Africa
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The Kenyan government yesterday admitted there WAS a cover-up into the death of Julie Ward, and it offered an investigation into any new evidence that she was murdered on a safari holiday. Julie was a friend of the staff of Delamere-Pennine Associates and we are pleased that the authorities are taking some action. To read the full report, go to our NEWS DESK link.


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17. Travel: Highlights of a visit to Kenya
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When South African Airways stopped its direct flights to Bangkok some time ago, there was general disappointment in the travel industry. Thailand had been gathering momentum as an exciting new destination but, without a direct flight, would South Africans still go there? Kenya Airways came to the rescue.

Tourists heading for Thailand can now get there almost as easily by flying via Nairobi where they can spend a few hours looking around or - even better - breaking the journey for a few days to visit one of the superb game parks or even the famous beaches south of Mombassa. To read the full travel report, go to our NEWS DESK link.

 

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18. Travel: When you want to walk around England, Be Warned
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LONDON - An Englishman's home is his castle. So it has been said for 400 years, leaving few doubts that when it comes to domestic life in Britain, privacy and property are paramount.


But not any more, it would seem. For in recent years, another equally ancient right has been championed by those countryside enthusiasts who see one man's property as another man's dispossession and the right to roam. To read the full report, go to our NEWS DESK link

 

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This month's quote
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"Most success springs from an obstacle or failure. I became a cartoonist largely because I failed in my goal of becoming a successful executive." ~ Scott Adams American cartoonist


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