CONTENTS
January/February 2014
FROM THE EDITOR 7 MASTHEAD 9
10 REVIEW
The stock markets and Africa’s growth potential
Cyrille Nkontchou of Enko Capital speaks with ‘Tunde
Olupitan
10
Investment opportunities in the African banking sector
Julien Lefilleur
13
Africa: Rising from the burden of deficits
Olutoyin Oyelade
18
22 SPECIAL REPORT
African business monitor
Gregory De Paepe
22
26 DEVELOPMENT
Investing in emerging markets in Sub-Saharan Africa
and corporate social responsibility
Carolyn Rouse
26
29 ANALYSIS
Has recent Sub-Saharan African growth translated into
improved living conditions for ordinary Africans?
Andy McKay
29
A new market power: The 86 percenters
Zara Ruban interviews Vijay Mahajan
34
Peace is good for business – entrepreneurship and
violent conflict in Africa
Tilman Brück, Wim Naudé and Philip Verwimp
39
A closer look at Nigeria’s economic performance
Ayo Teriba
43
48 FOCUS
Openness and transparency in government operations
as a way to enhance trade and investment in Africa
John Mukum Mbaku
48
54 SUSTAINABILITY
The Africa energy mix: Adopting renewables
Lanre Okanlawon
54
Why energy efficiency makes perfect business sense
Tom Delay
57
4 | The African Business Review