The African Counsel

Sub-Saharan Africa Newsletter
February 2011Volume 2, Issue 1
In This Issue
Nigeria: Security Challenges - NDC Seeks International Support
DMR Defends Sishen Rights Adjudication, Welcomes Legal Actions
Defeated Ivory Coast Leader Moves to Seize Banks
Uganda: Police Arrest Over Gay Activist Kato Killing
Africa's Impressive Growth
Banking Revolution Saves Lives in Africa
Kosmos Energy Celebrates First Oil From $3.3 Billion Jubilee Field Development Offshore
IFC's Local Currency Loans Are Protecting African Clients Against Foreign Exchange Risk
Corporate Social Responsibility in Sub-Saharan Africa: A Driving Force in Sustainable Development and Self-Sufficiency


By: Herbert A. Igbanugo,  Esq.

Raymond A. Gwenigale, Esq.

As old and new corporate players compete to gain ground in the various markets of Sub-Saharan Africa, Corporate Social Responsibility (CSR) is becoming an integral part of doing business on the continent. Multinational corporations should have an interest in leveraging their skills and impact to promote stability in the regions or developing nations where they operate, not only because it is the right thing to do, but also because it makes good business sense. 
Through its core business activities, social investment programs and engagement in policy dialogue and civic institution building, large corporations can help create the conditions for stimulating trade, increasing domestic and foreign investment, and restoring appropriate legal and regulatory frameworks. International companies operating in Sub-Saharan Africa should develop their own corporate social responsibility concepts as an integral part of corporate and country strategy because it goes a long way toward engendering goodwill.



U.S. - Africa

 Nigeria: Security Challenges - NDC Seeks International Support, 1/31/2011

With the increasing security challenges in Africa yearly, the National Defence College (NDC) has identified the importance of international partnership in developing a strategy to tackle the issue which affects not only the African continent but the world in general.


At the NDC distinguished lecture on US-Africa relations, held recently in Abuja, the Minister of State for Defence, Alhaji Murtala Shehu Yar'Adua, said such challenges include piracy, illegal fishing, environmental crimes, human trafficking, terrorism, oil theft and arms and drugs smuggling. Read more.... 




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DMR Defends Sishen Rights Adjudication, Welcomes Legal Actions, 02/03/2011


South Africa's Department of Mineral Resources (DMR) has rejected allegations of bias in its adjudication of iron-ore mining rights applications in the Northern Cape, and reiterated its position that the Sishen Iron Ore Company's (SIOC's) application for rights previously held by ArcelorMittal South Africa (Mittal) had been refused on the grounds that it had been "defective in a number of respects". 


SIOC is 74% held by Anglo American's Kumba Iron Ore (Kumba), which is mounting a legal challenge against the DMR's decision to refuse its application for the 21.4% of the Sishen mine that SIOC did not already have the licence to mine. Read more...

Defeated Ivory Coast Leader Moves to Seize Banks 


New York Times, 01/26/2011



Openly defying its West African neighbors, the government of Laurent Gbagbo, the Ivory Coast strongman who is increasingly short of cash in the face of international sanctions, says it will seize local branches of the central bank.


Mr. Gbagbo, who refuses to step down despite losing a presidential election in November, has been officially cut off from access to Ivory Coast's accounts at the bank, which groups the treasuries of eight West African nations. Read more... 



Uganda: Police Arrest Over Gay Activist Kato Killing

BBC News, 02/02/2011


Ugandan police have arrested a man over last week's murder of David Kato, a gay activist who sued a local newspaper which outed him as homosexual.


Police say Enock Nsubuga, the second person arrested in connection with the killing, is their main suspect.


They deny that Mr Kato was killed because of his sexuality and that initial inquiries point to robbery. Read more...  




Africa's Impressive Growth


The Economist, 01/06/2011



Much has been written about the rise of the BRICs and Asia's impressive economic performance. But an analysis by The Economist finds that over the ten years to 2010, six of the world's ten fastest-growing economies were in sub-Saharan Africa. Read more... 

Banking Revolution Saves Lives in Africa

CNN, 12/29/10



Money transferring services are part of a growing trend in developing countries that sees millions of people using mobile phone technology to make up for a lack of access to banking services. Read more...  



Kosmos Energy Celebrates First Oil From $3.3 Billion Jubilee Field Development Offshore Republic of Ghana 

Kosmos Energy, 12/15/2010


Kosmos Energy announced on December 15 that the company has inaugurated oil production from its $3.3 billion world-class Jubilee Field development offshore the Republic of Ghana. For the full press release, click hereFor the full press release regarding the Settlement Agreement with the Ghanaian government and Ghana National Petroleum Company, click here.


IFC's Local Currency Loans are Protecting African Clients against Foreign Exchange Risk 


International Finance Corporation, 12/21/2010


IFC, a member of the World Bank Group, is providing local currency loans to African clients to protect them against currency fluctuations and foreign exchange risk, while helping develop local financial markets. Read more...