Trading And Investing In & Out Africa

ISSUE 72 - VOL 1
APRIL 15 - MAY 14, 2005

Dr. Bienvenu-Magloire Quenum
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Monaco is a principality, which territory expands 370 acres (150 hectares), on the Mediterranean Sea. An enclave within the Alpes-Maritimes department, Southeast France, near the Italian border. It consists of four adjoining quarters: La Condamine, the business district; Monte Carlo, the site of the famous casino; Monaco-Ville, the capital, atop a rocky promontory; and Fontvieille, an area of light industry built largely on reclaimed land. The population - true Monegasque citizens: around 32,500 in 2003. 76,000 people shuttle daily in and out from France and Italy to work in Monaco.

The late ruler Prince Rainier III of Monaco, who reigned for 56 years from 1949 to 2005, died on April 6, 2005.

On April 10, 2005 the heir to the throne, Albert II, the son of the defunct monarch, declared:

"My sisters and I keep in our hearts the memory of a benevolent father who was deeply attached to his family. To everyone he leaves the example of a prince totally identified with his high mission, who lived only for it," Albert said.

"Everyone knows the achievements of his reign, which was out of the ordinary and saw the birth and blossoming of the exceptional development of our country." [Source: Reuters]

Indeed, these words are not just an aggrieved son's talks, but simply the truth. Rainier III economic achievements are really out of the ordinary.

In people mind Monaco is Glamour - Princess Grace of Monaco, the Principality Ball, the big Yachts of world billionaires harbored in the port, the casinos, the highly performing soccer club, the Monte Carlo's Movie Festival, and the stars climbing the steps to the festival palace on red carpet. Etc.

That is for the decor. There is more behind the curtain: A prosperous economy that had been built step by step thanks to the cunning imagination exercised to find business development ideas and the efficient organization put in place to carry them out. The monarch was known as "The Builder".

Under his leadership, the principality successfully diversified its economy from games business (casinos) to industries and services.

Industries (chemical, pharmaceuticals, cosmetics, electronics, plastic, textiles, printing business, and IT) took over providing, in 2004, 45.4 % of industrial revenues. Casinos revenues level dwindling from 47% in 1949 to 4.3% in 2004.

To compensate for the lack of land, industrial concerns were established in storied houses some rising up to 13 floors. That way, from 1984 to 2004, more than 200,000 sq. meters had been built to house industrial works. In total, the industrial sector accounts for around 6,000 jobs in 2004.

The state has no income tax but low business taxes and thrives as a tax haven both for individuals who have established residence and for foreign companies that have set up businesses and offices. The state retains monopolies in a number of sectors, including tobacco, the telephone network, and the postal service.

The banking industry was very slow to develop and took off at the beginning of the 1970's, when the expansion of the economy was at full blossom; stimulated by Prince Rainier III's imaginative and active developing policy; and by the synergetic effect originating from a long period of economic growth and political and social stability.

Today, Monaco has an extensive banking network, comprising forty-five full service banks, and some twenty portfolio management companies.

These financial institutions' total asset base amounts to nearly EURO 60 billion, of which 70% are nonresident funds. Monegasque banks now employ nearly 2,200 people, an increase of more than 40% over the past ten years. Almost all work for major leading banking groups.

Globally Monaco's economy composition reads as follows: Services (banking and other financial services) account for 49.1%; industrial activities for 15.6% (building construction included); and tourism (hotels, gaming and shopping) for the remaining 35.3%.

In short, the principality GNP had been multiplied by 20 from FR 3 billions in 1970 to EURO 9.8 billions (FR 60 billions) in 2004 that gives a per capita GNP of EURO 30,620 - in the top three of the world.


We chose to briefly describe the economic legacy of late Prince Rainier III of Monaco, to show once again that Organization makes the difference between poverty and prosperity

Let us make a linear comparison between the development of Monaco and that of sub-Saharan Africa.

Even if sociological conditions are not similar to make such a comparison, one cannot avoid pointing out to the fact that Monaco's per capita GNP is 64 times the one of a sub-Saharan African citizen. (EURO 32,000 against EURO 500 in average for sub-Saharan Africa)

Which means that globally speaking Monaco has a GNP that is 64 times the total GNP of 48 sub-Saharan African states.

It is remarkable that the economy of a rocky tiny spot (150 ha) had been boosted - in a span time of half a century - to become a financial powerhouse and a diversified industrial site through imagination, efficient planning and management; and full dedication of its rulers.

The principality, under a clever leadership achieved "economic independence" without any natural resource; no oil fields; no big territory. As did two other tiny states, Taiwan and Singapore as here explained.

Monaco's Rainier III built on existing assets. He did not destroyed inherited economic base (gambling) to start everything from rumbles as we are witnessing since 1998 in Zimbabwe for instance.

As explained in previous delivery, sub-Saharan African nations have endless business opportunities to attract foreign Investment and emulate success stories like the ones performed by Monaco, Singapore and Taiwan.

As always stated in our deliveries, There Is No Poor African Country. Only Lack Of Imagination And Mismanagement Of Existing Assets.

"CONTRIBUTOR'S GUIDELINES" are available here. We invite you to contribute to AFRICABIZ ONLINE MONTHLY ISSUE - with articles related to "How Africa Could Bridge The Developing Gap".

Your feedback / objection / contribution is welcome. Visit WorldWide BizCenter, and choose General Information (as topic) to create a thread for discussion. On the top of the WorldWide BizCenter page, there is a HELP link to assist you making an efficient use of the discussion board. This link also is useful

Many thanks for subscribing to Africabiz. See you here on May 15, 2005.

Dr. B.M. Quenum
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More on the matter

Business Opportunities


Considering information available in several deliveries [66, 67, 68, 69, 70, 71], and due to untapped existing chicken meat market in Africa amounting to US$ 20 billions, we reached the conclusion that it is possible to establish 30,000 medium-scale chicken breeding operations in sub-Saharan African countries that would generate direct jobs to 150,000 workers and 30,000 managers.

That shows there are opportunities throughout the continent to establish chicken breeding companies to cater for national demands in spite of the unfair competition exercised by import from Europe, provided that operators take necessary managerial and production decisions to control costs of production.

In addition to the medium-scale operations above briefly outlined, hundred thousand "family operations" could be established as people's income building power in African nations. Because when one speaks of fowl breeding, one should include pentads, geese, ducks and not only familiar poultry, which picture is available at the following page.

Diversifying the production is the key to beat the competition on national level and fight against imports.

1- Poultry Breeding and Genetics
by R.D. Crawford
2- The Dollar Hen: The Classic Guide to American Free-Range Farming.
by Milo M. Hastingd, Robert Plamondon
3- Small-Scale Poultry-Keeping: A Guide To Free-Range Poultry Production.
By Ray Feltwell
4- The Encyclopedia of Farm Animal Nutrition
by M.F. Fuller, et al
5- The Mating and Breeding of Poultry
by Harry M. Lamon, Rob R. Slocum.
6- Modern Livestock and Poultry Production
by James R. Gillespie

7- Success With Baby Chicks: A Complete Guide to Hatchery Selection
by Robert Plamondon.
8- The Classic Guide To Poultry Nutrition:
Chickens, Turkeys, Ducks, Geese, Gamebirds, and Pigeons.
By Gustave F. Hauser
9- The Strange History of The Ostrich
In Fashion, Food and Fortune.
By Rob Nixon
10- Ostrich's Avian Incubation: Behaviour, Environment and Evolution.
By D. Charles Deeming

More on Operating Expenses

Control Your Desktop


Some times ago I received a desperate phone call from a friend a continent away. His portable computer had been robbed. That was bad. He was traveling for an important financial negotiation and the computer was packed with sensitive data.

That should not happen if one takes some simple precautions. There are many possibilities to avoid such occurrence. You need to protect your data or have them backup on a remote system from which you could download them back to your computer. Even if the latter precaution had been taken, it is an absolute necessity to password-protect your computer if you are a road warrior. However, one protection may not be enough to save your life. Hackers abound now worldwide and your sensitive data may be on the open very fast. So what to do?


Technology exists that encrypts the Hard Disk and makes data secured beyond prying eyes. Some are expensive and fortunately there are freeware around.

One of them is Cryptainer LE, a powerful encryption software, Cryptainer LE is a powerful 128 bit encryption client that creates multiple 25 Mb encrypted containers (vaults) on your hard disk. These encrypted vaults can be loaded and unloaded when needed. You can view, modify and hide all types of files with a single password.

User friendly Cryptainer LE works the magic with all 32 bit versions of Microsoft Windows - 95/98/ME/2000/XP/2003 Server - and with all known file types. It allows you to password-protect and secure any file or folder on any media, including removable drives (Flash Drives, CD ROM's etc.)

Simply drag and drop the files and folders you want to hide and that is. Your files are hidden!

Click here to download a Free, fully functional copy of Cryptainer LE.

Click the More link below to read further on the matter.

Click here for more on how to secure your data.

Freebie Of The Month


According to WTO stats the lion's share of international trade is done by small businesses. Small entrepreneurs can perfectly fight against the titans.

However, as always, to succeed, you need to do some home work. Having for instance a good market study tool that does the job of gathering valuable data is an asset to beat the competition.

Visit this site where are listed links to international trade sites; tips and guides to importing and exporting; frequently asked questions about importing and exporting; and a list of incoterms - terms used in international trade.


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