Contents
AFRICA IN THE NEWS 5 Agencies want Gulf War com pensation fo r Africa
5 C ape Verde's free ly e lected President 6 Z im babwe raises in te rest rates 6 Afbiz Quiz
7 S ie rra Leone seizes French fish ing vessel 7 Cote d ’ Ivoire overhauls coffee and cocoa marketing
7 Psst 8 Agenda 9 South A frica Watchdog
FEATURES 10 Diamond outlook brightens 10 G u in ea succeeds outside De Beers net
10 Zairean d iam onds 13 Botswana will polish d iam onds - but whose?
14 D iam ond prospects fo r Sierra Leone 14 Namibian beaches yield new d iam ond finds
COUNTRY BRIEFINGS 16 Kenya: EPZs d raw lukewarm in vestor response
19 Zambia: IMF fo resees new reform stage 20 Lesotho: Preparing fo r post-sanctions era
20 Z im b a bw e :B re akaw a y ca r dealers 45 Angola: Econom ic stagnation persists 47 Swaziland: A budget fo r the workers
47 Swazi asbestos m ine fin a lly c lo ses 50 Burundi: Struggle fo r econom ic stability
51 Uganda: Revival fo r tobacco sector
54 Mozambique: House rents soar
54 In brief: Benin cushions reform s; UK fam ine a id to Sudan & Mozambique; M adagascar la bour-intensive scheme; Som a lia peace appeal; Oxfam backs Ethiopia; ECGD credit fo r Z im babwe
NIGERIA SURVEY
23 Economic Overview: New free -enterprise sp ir it bodes well
25 Nigeria Econom ic Indicators 27 Manufacturing: Capacity use inches upwards
30 Debt: P lanners seek right balance 35 Banking: Everybody's getting in on the act 37 Agriculture: Farmers carry nation ’s export hopes 39 Hydrocarbons: In oil guessing game, stakes are high 39 Environm ent: Conservation issues ta ke h igher profile
42 Investm ent: O ld carrots and new
SECTOR BY SECTOR 55 Agriculture: Cape Verde maxim ises land use
55 Danish opt fo r Namibian fishing 56 Banking & Finance: Central-bank governors ponder crisis
56 In brief: Gabon c red it fo r SMEs; Z im babwe SMEs too
57 Energy & Mining: Nam ib ia ’s seabed potential
57 Guinea gold venture seeks th ird partner 58 Environm ent: Kenya, Z im babwe lock horns over w ild life d ilem ma
59 Manufacturing & Technology: Togolese textile firm aims high
59 Swedish train Angolan mechanics
60 Market Network: ACBI seeks to build Africa's own expertise 61 Transport & Communications: European sh ip owners upgrade 61 In brief: S eyche lle s -S o u th Africa a ir link on hold; N am ib ia -P a r is air link; Zam b ia ’s US flig h t ends
BOOKS
62 Travelling rough through African guidebooks
D iamonds, that most upmarket of export commodities, are sparkling all over Africa. AB s team of contributors have filed five reports for our three-page diamond feature this month. Page 10
Z ambia faces some crucial decisions, both economically and politically. Now that Frederick Chiluba has won the right to stand against President Kaunda in the October elections, what lies in store for the Zambian people? SYLVESTER CHIPOSA reports from Lusaka. Page 19
T hings are also changing in Africa's most populous country, as we present our annual NIGERIA SURVEY, this year in a handy pullout format. Our Lagos correspondents, PINI JASON and JATO THOMPSON, provide insights into their country. Page 21____________
African Business April 1991 3