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The Journal of African Business Issue 7

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Welcome to The Journal of African Business, a unique guide to business and investment in Africa. Since the inaugural issue was published as an annual in 2020, the quarterly format has been adopted, giving our team more opportunities to bring to readers up-to-date information and opinions and offer our clients increased exposure at specific times of the year. We cover a broad range of topics, ranging from energy and mining to tourism and skills development. A wide-ranging interview in this issue with a visionary entrepreneur gives a welcome insight into how the private sector can be deployed to solve issues that go to the heart of social problems, in this instance, affordable housing. Related to urban development is the article that lays out the vision of one of the continent’s great cities to create a smarter city. Special Economic Zones have been in Africa since 1970 but there has been a great deal of new thinking about the role that these zones can play in bolstering economic growth and promoting exports. An article explores the chief motivations for the growth of this particular policy intervention and notes that more zones and organisations representing these zones are aiming to work together, not only on a continental level but through the United Nations as well. Executive education can boost the earnings of graduates of Master of Business Administration courses, but can those post-graduate programmes also respond to and equip students with the tools to tackle African challenges? The importance of being properly covered by insurance for extreme weather conditions is the subject of two case studies by the African Risk Capacity Limited, a financial affiliate of the African Risk Capacity Group, a specialised agency of the African Union. And much more... Global African Network is a proudly African company which has been producing region-specific business and investment guides since 2004.


COUNTRY PROFILE THE GAMBIA Tourism and commercial agriculture are the targets of growth policies. Credit: Gambia Tourist Board Capital: Banjul. Other towns/cities: Brikama, Kanifing, Basse. Population: 2.4-million. GDP official exchange rate: .7-billion (2019). GDP per capita: 100 (2021). Currency: Gambian dalasi. Regional Economic Community: Community of Sahel-Saharan States (CEN– SAD), Economic Community of West African States (ECOWAS), Organisation of Islamic Cooperation. Land mass: 11 300km². Coastline: 80km. The country is on either side of the Gambia River and is surrounded by Senegal. Resources: Clay, silica sand, titanium (rutile and ilmenite), tin and zircon. Peanuts, cassava, fish, groundnuts, maize, milk, millet, oil palm fruit, rice, sorghum. Main economic sectors: Agriculture (peanuts), tourism, fish. Other sectors: Beverages, clothing, hides, agricultural machinery assembly, woodworking, metalworking. New sectors for investment: The National Development Plan aims to create a stronger private sector through investment in infrastructure, supported by increased roles for the commercial agricultural and tourism sectors. Climate resilience is important for urban and coastal areas. Key projects: The World Bank is supporting a supplemental financing package related to fiscal management, energy and telecom reform. An existing Gambia Electricity Restoration and Modernization Project has helped to improve the performance of the National Water and Electric Company (NAWEC). Chief exports: Cashews, lumber, refined petroleum, shellfish, scrap iron, fish, sesame seeds. Top export destinations: China, India, Mali, Chile. Top import sources: China, India, Senegal, Brazil. Main imports: Rice, clothing, refined petroleum, raw sugar, palm oil. Infrastructure: One airport, 2 977km of roads, of which 518km is paved; no railways. Banjul is the country’s seaport and ocean-going vessels can advance 190km up the Gambia River. ICT: Mobile subscriptions per 100 inhabitants: 101 (2021). Internet percentage of population: 33 (2021). ICT Development Index 2017 (ITU) world ranking: 144, 16th in Africa. Climate: Tropical with the hot, rainy season lasting from June to November. The country is in the floodplain of the Gambia River with low hills. Religion: More than 90% Muslim. Modern history: The smallest country on the continental landmass is also one of the most densely populated. Having been a part of both the great Mali and Songhai empires, the area was contested between Moroccans, French and Dutch traders before Britain established control in 1766. The present boundaries of The Gambia were set by agreement between Britain and France in 1889. In 1965 The Gambia gained independence. A confederation of Senegal and The Gambia existed from 1982 to 1989. Lieutenant Yahya Jammeh seized power in a coup in 1994 and he ruled in authoritarian fashion until he was ousted in an election by Adama Barrow. When it appeared that Jammeh would not accept the result, 7 000 soldiers, under the authority of the regional economic grouping, ECOWAS, massed on the border to force him into exile. Subsequent presidential elections took place on 4 December 2021 with the incumbent President Barrow winning a second term. The Gambia’s status as a multiparty democracy was also confirmed. 44

EXECUTIVE EDUCATION Specialised Courses The Southern African Railways Association’s exclusive railway conference and exhibition will be held between 25-27 October 2023. Africa’s Exclusive Railway Event Hosted by African Railway Operators! SARA RAIL & 25 - 27 October CONFERENCE EXHIBITION Gallagher Convention Centre Midrand, South Africa Lead | Change | Transform Theme: ENHANCING RAILWAY CAPACITY & QUALITY OF SERVICES THROUGH NEW OPERATING MODELS & PARTNERSHIPS FOR SEAMLESS REGIONAL INTEGRATION & TRADE Members of the Southern African Railways Association C-Suite Sponsorship & exhibitor opportunities available. Register online as a conference delegate. Manageme Developme Leadership & coaching Executive Education 2 St Davids Place, Parktown, Johannesburg Tel: 011 452 4991

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