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United Kingdom IC P U B L I C A T IO N S , 7 C O L D B A T H S Q U A R E , L O N D O N EC1R 4 L Q . T e l : + 4 4 20 7713 7711 F a x : A d m in +44 20 7713 7898 E d i t o r i a l : + 4 4 20 7713 7970 E -m a i l : i c p u b s @ a f r i c a s ia .c o m W e b s i t e : w w w .a f r i c a s ia .c o m

France IC P U B L I C A T IO N S , 6 0 9 B A T A 77 R U E B A Y E N 75017 P A R IS T e l : +33 1 44 30 81 0 0 F a x : +33 1 44 3 0 81 11 E - m a i l : in f o @ i c p u b l i c a t io n s . c o m W e b s i t e : w w w . i c p u b l i c a t io n s .c o m

Contents

AFRICAN BUSINESS W in n e r o f th e D ia g e o 2 0 0 5 B e s t P u b l i c a t i o n a w a r d FEBRUARY 2 0 0 7 ISSUE 328 WWW.AFRICASIA.COM

Group Publisher: A f i f Ben Yedder (b e n ye d d e rg ia f ric a s ia .c om ) Editor: Anver Versi (a . ve rs i ©africasia.com ) Production Manager: Christine Tyrell ( c .t y r e l l@ a f r ic a s ia .c om ) Ed ito r ia l D epartm en t Associate Editor T om Nevin C o rrespondent-at-large S tephen W illiam s Edito ria l Assistant C a ro le L am b e rt Correspondents in A fr ica Barnabas T ho nd la n a , Leo O d e r a Omolo, B lamuel N ju ru ri , Hera ld T ig am a , Pini Jason, Rob Rose, John Ansah, D erek O tie no , C h ris Ndivanga, Masupu Rakabane Special Correspondents Milan Vesely. Moin Siddiqi, D r K a ram o Sonko. Neil Fo rd , Frangois Misser, G ra em e Ewens, P in i Jason, Eluem Iz ezi, Jen n ie S t re e t, Paul Michaud Sales and M arketin g Associate Group Publisher: O m a r Ben Ye dder ( o .b e n ye d d e r@ a f r ic a s ia .c om ) D ire cto r o f Sales & M arketin g : Saliba Manneh (s .m a nn e h@ a f r ica s ia .c om ) Business Development Manager: Kasim ir B e rg e r ( k .b e rg e r@ a f r ic a s ia .c om ) Advertising Sales Directors: C a rlo ta Casades (c .c a s ades@ a f r ic a s ia .c om ) F a tim a Ghellab (f a t im a@ a f r ica s ia .c om ) A ly a Assad ( a .as sad@ a f r ica s ia .c om ) Nick Rosefield ( n . ro se f ie ld @ a f ric a s ia .c om Special Projec ts C onsultant: M oniq ue Butt D is tr ib u t io n Manager M ik e Penton (m .p e n to n@ a f ric a s ia .co m ) S u b s c r ip t io n s : IC P u b l i c a t io n s S u b s c r ip t io n s D e p t T o w e r H o u s e , S o v e r e i g n P a rk , M a r k e t H a r b o r o u g h . L e i c e s t e r s h i r e LE16 9 E F U n i t e d K in g d o m T e l e p h o n e : +44 1858 4 3 8 792 F a x : + 4 4 1858 461 739 Em a i l : s u b s c r ip t io n s @ a f r i c a s ia . c o m

S u b s c r ip t io n r a te s f o r 11 is sues: UK : U K E4 0 .0 0 , E u r o z o n e €80 .0 0 , U S A U S$90.00, R es t o f w o r l d UKE55.00 B a c k i s s u e s in c lu d in g p o s ta g e : U K E 4 .0 0 (U K ) , UK£5.00/€7.00/US$8.00 ( o v e r s e a s )

P r i n te r s : H e a d l e y B r o t h e r s L td , T h e In v i c t a P r e s s , Q u e e n s R o a d , A s h f o r d , K e n t . T N 2 4 8 H H . Indexed and abstracted in PAIS In ternatio nal and included in one o r m o re of the In fo rm a r tio n Access Company full text re fe rence databases. Microfilm s available f rom Xe ro x U n iv ers it y Microfilm s, 399 N. Zeeb Road, Ann Arbor, Michigan 48106, USA. indexed b y UMI/Data Courie r, PO Box 327770, Louisville . KY 40232-2770 USA.

A B C M e m b e r o f

T h e A u d i t B u r e a u o f C ir c u la t io n s .

12 C o ve r S to r y N ig e r ia : Th e make o r break e lections

26 C om m od it ie s R epo rt Precious G roup Metals

Editorial 11 Reform World Bank, IMF

Cover Story Nigeria 12 The make or break elections 18 The presidential candidates view from the City 20 African markets pack a punch

Energy 22 Another LNG tra in fo r Eq. Guinea

Commodities Report Precious Group Metals 26 Gold 27 Gems, Platinum 28 Palladium

Development Focus 29 Kuwait Fund fo r

Arab Economic Development Partners in Africa’s development

34 Special R e p o rt Corporate Social Responsibility

Special Report Corporate Social Responsibility 34 First Principle of Survival 36 Business meeting the challenge 38 CSR: Quotes from the top 40 The UN’s Global Compact

Business in Africa 42 Morocco: Enterprise and red tape

Events 44 Blood diamonds storm brews

Countryfiles 46 S.Africa: Vigilantes out of control 48 Ghana: A good tim e to celebrate 50 Cote d’ Ivoire: A country still cut in two 52 Madagascar: Milkman wins again 53 Seychelles: A reversal of fortunes 54 Namibia: Power is the key 55 Botswana: Debt fo r nature deal 56 Angola: Joining Opec 57 Mozambique: The other end of the scale

Reviews Books/Music 62 Corporate Social Responsibility

& International Development and other books 66 North Africa’s Soul Rebel