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Contents
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African Business October 2009
18 COVER STORY Africa’s Top 100 Banks
Africa’s Top 100 BanksAfrica’s Top 100 Banks
59 Interview CDE’s Mabousso Thiam
72 Focus The rise of Nigeria’s middle classes
Editorial 15 The fruits of being competitive
Cover Story Africa’s Top 100 Banks 18 African Business Annual Rankings 20 African economies –
bowed but not broken 24 Africa’s Top 100 Banks – the rankings 26 North Africa is leader of the pack
Region by region 30 North: Attijariwafa Bank
continues to dominate 34 West: Zenith, First Bank move to the top 36 Central: BGFI is the biggest 38 East: Recession hits bank growth 42 Southern: Angola takes centre stage 46 South Africa: Profits fall
as recession bites
Special Country Focus Ghana 51 Africa’s golden gateway 52 The Divestiture Implementation
Committee 53 Agriculture – a key sector 54 Ghana Cocoa Board 55 EXPOM 56 Ghana Ports & Harbours Authority
Interview 59 CDE’s Mabousso Thiam
Commodities 62 Aluminum and copper
prices defy gravity 67 As sweet as sugar
Letter from East Africa 70 Only the poor understand poverty
Focus 72 The rise of Nigeria’s middle classes
Trade 79 EU treaty sparks Southern African
trade war
Spotlight 84 Agoa: A goer or a goner?
Investments 86 Russians advance into Africa
2010 World Cup Watch 90 After the ball
Countryfiles 92 South Africa: Eskom’s shock loss 94 Malawi: Foreign buyers deported 95 Kenya: Tourism bounces back
Reviews 96 Books: China Safari 98 Music: Secret Agent
