Indo Africa Times, a weekly newspaper has its key intend to create extensive awareness amongst people about Africa and India concerning different sectors like economy, politics, culture, fashion, sports and many more. It is our sincere endeavor to bridge the information gap between Africa and India by endowing our readers with updated and latest developments occurring in both the countries.

1. www.indoafricatimes.com
MONDAY | JUNE 23, 2014 Title Code: DELENG18579 • RNI NO: DELENG/2014/54666 • Postal Registration No.: DN/325/2014-2016 • VOL. 1 • NO. 24 • Page 12 • Price `10
pg 10
pg 04
pg 07
pg 02
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Addis Ababa - Madrid,
3 times weekly by
Ethiopian Airlines
June 23-25, 2014
International Exhibition & Confrence
A
frica is a matchless continent. The fact that agriculture is
identified as the lifeblood of Africa, this sector utilizes 65
percent of Africa’s labor force and scores for 32 percent
of Gross Domestic Product (GDP).
Africa is and will stay as a fundamental development driver
for the African continent. No doubt, Africa has the potency to
become a food exporter through a mixture of state-of-the-
technology, enhanced infrastructure and superior technical
training.
Realizing the importance of this sector, Radeecal
Communications in an endeavor to bring the Government,
entrepreneurs and institutions from India and Africa is
organizing the Agritec Africa Exhibition and Conference which
will held at Kenyatta International Center, Nairobi, Kenya during
June 23-25, 2014. Africa has huge potential for Agricultural
Get Ready for
Agritec Africa
in Kenya
A business
environment
in constant
improvement:
BURUNDI
Travel
adventures
in Rainbow
Nation:
South Africa
I'll forever
remain
NDC – Mr.
Beautiful
Miss Seychelles
2014 Camilla
Estico receives
words of
encouragement

2. Wassupafrica02
European Bank seeks to
finance Zimbabwe business
T
he European Investment
Bank said it was considering
funding private businesses in
Zimbabwe despite Harare's $300
million debt to the institution.
"We are here to explore the
possibilities to reengage activities
in Zimbabwe. We see possibilities
with the private sector," said
Diederick Zambon, who heads the
Miss Seychelles 2014 Camilla Estico
receives words of encouragement
Miss Seychelles... another world
2014, Camilla Estico is passionately
living to her aspired vision of the
Seychelles new beauty queen.
With Miss World beauty
pageant coming up in December
2014, Camilla Estico is saying
with conviction that she is not just
going out there to win but to make
Seychelles proud.
As she seriously moves on with
her preparation for Miss World,
she can only keep her head high up
with the support of people around
her who believe she is blessed with
the quality to make a difference
in Miss World 2014 and fly the
Seychelles flag high.
One of Seychelles key figures
who believes in her success is Alain
St.Ange, the Seychelles Minister
for Tourism and Culture. Camilla
Estico accompanied by Sherin
Naiken, the Chief Executive Officer
of the Seychelles Tourism Board,
paid a courtesy call on Minister
St.Ange.
The Seychelles Tourism
Minister St Ange wishes Camilla all
the best of luck in her preparations
for Miss World. He showered her
with words of advice and cautions.
“Be Mellow and Confident. It will
help you to reach to new heights in
the coming world beauty pageant.
You have a good chance to pull
something out of this pageant and
shock not only Seychelles, but the
world at large. At the end of the day,
you are a winner already because
you are participating with the best
in the world’’ said Minister St.Ange
to Camilla Estico
Minister St Ange spoke of the
Miss Seychelles.... another world
pageant as another platform for
putting the Seychelles cultural
diversity in the forefront.
“When Seychelles Tourism
Board launched Miss Seychelles...
another world pageant, we wanted
to remove the commercial side to
the beauty pageant. Our goal was to
put our people’s diversity of culture
in the forefront’’ the Minister said
For Miss Seychelles... another
world 2014, Camilla Estico, her
preparation for Miss World is “on a
good start” and as she rightly puts
it she is “looking forward to the
journey ahead’.
“Lots of hard work and
determination is required of me
throughout the year. Minister
St.Ange gave me good and a very
motivating advice. I am sure it will
play positively in my preparations
for Miss World" Camilla Estico,
Miss Seychelles… another world
2014 said.
Eturbo News
Statement from the South African
Department of Home Affairs
There has been a lot of consternation
regarding new regulations promulgated
by the South African Department of
Home Affairs regarding the need for
children travelling with adults to be in
possession of original unabridged birth
certificates.
SATSA has been actively engaging
with our new Minister of Tourism
Derek Hanekom, who in turn has
been in discussions with his cabinet
colleagues. It is with some sense of
relief that the Department of Home
Affairs issued a statement last night
that the regulations will now only
become effective from 1 October
2014. Please see the Department of
Home Affairs website here.
"I would like to assure members
that SATSA will continue to oppose
draconian legislation that impedes
the tourism potential to South Africa,"
says SATSA CEO David Frost. "As
an organisation we support the
need for proper regulations with
respect to incoming tourism, but the
heavy-handed and non-consultative
approach exhibited by the Department
of Home Affairs is to be strongly
countered."
Frost furthers: "This extends to the
imposition of biometric visa requiring
applicants to appear in person,
which will severely impact growing
markets such as India and China.
Furthermore, we will work with our
fellow associations BASA, ASATSA
and Fair Trade in Tourism, through
the auspices of the Tourism Business
Council of South Africa (TBCSA), and
our Ministry of Tourism, to seek a
more structured engagement with the
Department of Home Affairs, where
we can assert a tourism agenda in
these deliberations."
Eturbo News
To book your
Advertisement
please email to
ads@indoafricatimes.com
or call at
+91 8130796166
+91 9310572255
banks division for southern Africa
and Indian Ocean.
He told journalists that the
private sector was "the backbone
of the economy" and crucial to
the further development of the
country. The loan facilities will
be channeled to small business
enterprises including in the
agriculture, manufacturing, water
and telecommunications sectors.
ZambonstatedthatZimbabwe's
arrears to the EIB are over $300
million (220 million euros) and
that his team would meet with the
country's finance minister as well
as central bank officials over the
debt.
"At the same time we are here to
discuss the problem of the arrears
and to try to find a positive way
forward," he said. Zimbabwe is
battling to rebuild the economy
battered by years of political
turmoil that saw the seizure of
white-owned farms.
The European Union imposed
travel bans and asset freezes on
long-ruling President Robert
Mugabe, his inner circle and linked
companies, following elections in
2002 which western observers said
were rigged to hand him victory.
The EU lifted most of its
sanctions last year but an asset
freeze and travel ban remains for
the veteran leader.
After winning elections last
year Mugabe called for the EU to
boost ties with Zimbabwe and the
removal of sanctions. The EU and
United States rejected the recent
vote on grounds that the polls were
not credible.
Modern Ghana
Camilla Estico,
Miss Seychelles 2014

MONDAY | JUNE 23, 2014

3. Wassupafrica 03
FROM PAGE 01
growth, thanks to ample amount
of Land and Water Resources. Yet,
land and agricultural productivity
are found to be one of the lowest
in the world in Africa, Agriculture
employs 65% labour force.
Agriculture sector accounts for
32% of GDP of Africa.
Africa requires attention on
three core areas for Higher and
Sustained growth: facilitating
agricultural markets and
trade, improving agricultural
productivity, investing in public
infrastructure for Agricultural
Growth.
The economy of Kenya is
the largest by GDP in East and
Central Africa. Agriculture is a
major employer and the country
traditionally exports tea coffee
and most recently fresh flowers to
the Europe. The service industry is
a major economic driver. Kenya's
monsoon seasons start during
April to June, after which 'short
rains’ season occurs till November.
Currently Kenya is aiming to
create a globally competitive and
prosperous nation with a high
quality of life by 'Vision 2030'.
The vision is anchored on three
'My Culture
Rocks' Street
Carnival to
hit Accra on
June 28
The Ministry of Tourism, Culture
and Creative Arts is set to host this
year's edition of the Accra Street
Carnival on June 28-29, 2014.
The event, dubbed 'My Culture
Rocks' is aimed at diversifying the
country's tourism, cultural and
creative arts products and use the
event as a tool to create employment
and income opportunities for
Ghanaians.
The Ministry further seeks to use
the event as an incubator for creative
industries, skills development and
providing individuals with creative
opportunities that they might
not otherwise have previously
considered.
The 2014 carnival, which is
anticipated to involve all the 32
participating nations in the 2014
FIFA World Cup in Brazil, is projected
to attract over 5000 participants
from within Ghana and the Diaspora.
The event would commence
with the congregation of participants
at the Nima Cluster of Schools, from
where there would be a procession
through the Ring Road, Osu Oxford
Street and finally converging at the
Black Star Square, where giant
screens would be mounted for
soccer fans participating in the
carnival to have the opportunity to
watch the live matches of the World
Cup soccer fiesta for the two days,
amidst fanfare.
Patrons and commuters alike
are assured of enough security
arrangements that have been put in
place to ensure a smooth carnival,
so that the event does not unduly
interfere with pedestrian and
vehicular movements.
This year's street carnival is
undoubtedly going to be the biggest
yet. There has been huge interest
from the corporate world and
many media houses to ensure the
sustainability of the carnival.
Street carnivals over the years
have been organized by many
developed and developing countries
as central component of the wider
regeneration of urban areas; since
the event provides a platform for
regeneration of municipalities,
social, cultural, human and
intellectual capital and also
generate support for local economic
development.
It is worth-mentioning that a
carnival teaser organized by the
Ministry in September 2012 was
followed with the maiden event in
June, 2013.
It is one of the many cultural
events the Ministry is using to
increase the attractiveness of the
country for tourism and potential
investors.
Modern Ghana
as third leading exporter of fresh
produce, such as cabbage, onions
and mangoes. Small farms grow
most of the com and also produce
potatoes, beans and peas.
The Agriculture Sector in
Kenya is very influenced by
externalities, including weather
conditions and global economic
and financial developments.
The significance of the Kenyan
agricultural sector is reflected in
numerous national strategies and
policies.
Government of Kenya
currently implementing Strategy
for Revitalizing Agriculture (SRA)
with the intention to "Transform
Kenya's Agriculture into
profitable, commercially oriented
and internationally and regionally
competitive economic activity
that provides high quality gainful
employment to Kenyans". The
Strategic areas included
1) Streamlining Agricultural
policy Framework
2) Creating an enabling
environment for the private
sector
3) Improving delivery of support
services
4) Promoting marketing, agro-
processing and trade
5) Main streaming agriculture
development issues in other
sectors
6) Strengthening institutional
implementation monitoring
frameworks
The Exhibition is open for all
companies and organizations with
products or services related to the
following topics:
• Agri Ecology
• Agricultural Building
Contractors
• Agricultural Machinery
Equipment
• Agro and Food Processing
• Aquaculture
• Biotechnology
• Fertilizers Chemicals
• Floriculture
key pillars; economic, social and
political Governance.
Agriculture Sector contributed
24% in the total GOP of Kenya
in year 2011 -as per the Kenya
National Bureau of Statistics 2012.
Kenya's Agriculture Sector
directly influences overall
economic performance through
its contribution to GOP. Periods
of high economic growth rates
have been synonymous with
increased agricultural growth.
Several untapped crops cultivation
in Kenya which can effect African
economy - Tea, Coffee, Sugar,
Horticulture, floriculture, cotton,
Macadamia Nuts, etc.
Presence of RD centers,
Agricultural Infrastructure,
Agricultural University,
Government Support, Initiative of
NGOs and other associations have
made Kenya a unique choice for
such as International Exhibition on
Agriculture Technologies.
Although farming is the most
important economic sector in
Kenya, less than 8% of the land is
used for crop and feed production
and less than 20% is suitable for
cultivation. Kenya is a leading
producer of tea and coffee, as well
bring the number of the airline’s
international destinations across
five continents to 83. The flights
will provide the best connectivity
options between Spain and East
and Southern Africa.
Madrid,thepolitical,economic
and financial hub of Spain, is the
country’s biggest and Europe’s
the third largest city. It also
houses the headquarters of the
World Tourism Organization and
numerous major corporations.
We are very pleased to
announce to our esteemed
customers that Ethiopian
will start services to Madrid,
bringing the number of our
European destinations to ten.
The continued expansion of our
network in Europe will enable
our customers to enjoy wider
choice of connectivity options
when travelling between Europe
and Africa. Spain is a major tourist
originatinganddestinationcountry.
Our new route to Madrid will
create opportunities for further
strengthening the investment,
trade, and tourism ties between
Spain and 49 destinations in Africa
with convenient and seamless
connection through our main hub
in Addis Ababa., said Ethiopian
Airlines Group Chief Executive
Officer, Tewolde Gebremariam.
Passengers to and from Madrid
will enjoy convenient connections
to destinations in Ethiopian wide
route network such as Zanzibar,
Kilimanjaro, Dar es Salam, Nairobi,
Entebbe, Lusaka, Luanda and
Johannesburg.
Eturbo News
• Fork lift Handling Equipment
• Greenhouses
• Horticulture
• Irrigation and Water
Technologies
• Livestock Dairy Farming
• Marketing Export / Import
Services
• Organic Agriculture
• Plant Protection
• Plasticulture
• Post-Harvest Treatment
• Poultry
• Precise Agriculture
• R D
• Renewable Energy
• Development
• Seeds, Nurseries Plant
Propagation Materials
• Small Ruminants
• Software Hardware
• Veterinary
• Turnkey Projects Knowledge
Transfer
This International conference
on agriculture and industry
presentations will be organized
during the event. This conference
will be based upon agriculture
industry, profession and fandom.
It will focus on versatility of
agricultural segment in different
zones, feature keynote speakers
and other key information and
activities of industry.
The organizers of Agritec
Africa, Radeecal Communications
specializes in conceptualizing,
planning, organizing/managing
IndustrySpecificevents,intandem
with various Associations and
Industry leaders. The objective
is to create a neutral platform
for the players of the Industry to
assemble under one roof, share
information and knowledge, both
technical and trade oriented,
understand the market dynamics
– existing and future (short term,
mid-term and in the long term)
and trash out the issues, and come
to conclusions that shall benefit
the Industry as a whole.
Addis Ababa - Madrid,
3 times weekly by Ethiopian
Airlines starting September 2
Ethiopian Airlines, the largest
airline in Africa, is pleased to
announce that it has finalized
preparations to start three
weekly services to Madrid, Spain
starting from 2 September 2014.
Ethiopian flights to Madrid will
be operated through Rome and will
mONDAY | JUNE 23, 2014

4. T
he attractiveness of Burundi
as a place to invest lies on the
improvement of the business
climate by the Government. The
efforts in improving the latter
are focused on increasing the
competitiveness of the economy
in order to enable the Burundian
Economy in order to take
advantage of the opportunities
offered by open markets.
Burundi is member of
economic communities CEPGL,
COMESA, EAC totaling more
than 20 countries and 450
million consumers. Since 2008,
the process is started for the
integration of these communities
into a single regional community,
(AEC) African Economic
Community.
Indeed, if the infrastructures
of transportation are developed
further, countries such as Rwanda
and Uganda will make the choice
of transiting their goods through
the port of Bujumbura for their
commercial exchanges with
Southern Africa via Tanganyika
Lake.
The same applies to the
exchanges between the east of the
Democratic Republic of Congo and
Congo and Eastern Africa, Burundi
could represent a strategic
position for foreign investors
wishing to invest in the region and
to enter neighboring markets.
Burundi’s integration to
several economic communities
such as EAC and COMESA. This
gives Companies established in
Burundi access to a wider market
larger than 450 million consumers.
• Promising business sector;
• A country in full reconstruction;
• The new investment coed
incentives;
• Freedom of settlement and
investment;
• Granting of visas, fixing and
moving residence to expatriates
required by investment freedom,
title to any person or entity,
without any discrimination
Capital Transfer:
Capital transfer advantages
include:
• Free transfer of foreign capital
and income after payment of
taxes.
CountryoftheWeek04
Advertiser's Index
Eurekahomes ................................................................................ Page 01
Modern Agro Engineering Works .................................................. Page 02
Chadha Power ............................................................................... Page 02
SSP Pvt. Ltd ................................................................................... Page 03
The Times of Africa ........................................................................ Page 05
Expo Group .................................................................................... Page 07
JP Mukharjee ................................................................................. Page 08
Mill India Ltd. .................................................................................. Page 10
Paranthaman .................................................................................. Page 10
Laxmi Publications ......................................................................... Page 11
Prakash Amusement ..................................................................... Page 11
AITEC ............................................................................................. Page 12
• Transfer of unused professional
income by foreign employees.
• The transfer of capital
remuneration in the form of
dividends, in full for enterprises
with foreign capital:
• Protection of private property:
• Non- nationalization and non-
expropriation of investments
implemented in its territory
as well as any measures of
equivalent scope.
Tax Advantages
All new investments are
automatically entitled to:
• Waiving of mutation on the
acquisition of property rights
and land:
• Deduction of 37% as tax credit
on the amount depreciable
invested good:
• No refund to the fiscal
administration with disposed
assets that raised tax credit for a
period of five years:
• Tax credit during the
implementation of investments
for new businesses or for the
extension of existing businesses:
• Reduction of 2 and 5% in
the rate of tax credit on the
profits of companies that
BURUNDI
AT A GLANCE
Country Official Name:
Republic of Burundi
Head of the State: H.E Pierre
NKURUNZIZA
Capital: Bujumbura
Independence: The 1st of
July 1962
Religions: Roman Catholic
(62%),Indigenous (23%),
Islam(10%), Protestant(5%)
Government: Democratic
Total Area: 27 834 Km2
GDP: GDP per person: 350
USD ( average)
Inflation Rate: 5%
Population: 8 800 000
inhabitants
Languages: Kirundi (National
language), FRENCH and
ENGLISH
Climate: Tropical
Export Items: Coffee, tea,
manufactures
Natural Resources: Nickel,
cobalt, copper, platinum,
gold, tin, limestone ,etc
Currency: Burundi Franc, BIF
respectively employ between
50-200 employees and over 200
employees.
An Investment Promotion Agency
(API) entirely at your service
The IPA:
• Has several high-qualified
bilingual French- English staff;
• Assists investors in all steps:
drafting of statues, registration
of companies in Burundi,
obtaining tax identification,
compiling the file required to
access the investment code
incentives, obtaining work and
residence permits, etc.
Performance Requirements
and Incentives
Incentives include:
• Exoneration of charges incurred
for acquisition of buildings and
land;
• Cooperate tax credit equivalent
to 37% of the value of
depreciable goods invested for
any investment of at least BIF
100 million (app. 77,000 USD)
creating at least 10 permanent
jobs for Burundians in
Bujumbura, or any investment of
BIF 50 million(app. 38,500 USD)
creating 5 permanent jobs for
Burundians outside Bujumbura;
• Raw materials and capital goods
rated at 0% during customs
clearance;
• No payment of VAT (18%) on
imported investment goods
for any investment at least 500
million BIF;
• Corporate tax reduction of
2% and 5% for companies
employing respectively between
50-200 employees, and more
than 200 employees.
Performance requirements or
incentives are applied fairly and
uniformly to both international
and domestic investors. To
encourage investment Burundi
applies investment incentives to
both international and domestic
companies in the form of income
tax deferrals, and exemption from
from import and export duties.
Burundi does not impose
conditions on permission to
invest, except for companies that
apply for special incentives, such
as specialized tax advantages
embedded in the investment code.
The government of Burundi does
not enforcement procedures on
companies, and investors are not
required to disclose propriety
information to the government
as part of the regular process.
Burundi does not impose any
discriminatory or excessively
onerous visa residence, or work
permit requirements that would
hinder a foreign investor’s
mobility, or discriminatory export
or import policies.
Free Zones
The regime gives legal status
to companies who automatically
qualify for a set of tax and customs
exemptions. The regime has the
distinction of being organized as
a legal unlimited geographical
area. Free zone companies are
divided by sector and are referred
to as free companies in the
industrial, commercial, services
or agricultural sectors. The main
criteria for eligibility are:
• The export of all production;
• Creation of substantial added
value;
• Compliance with environmental,
health and safety regulations;
• The importation or re-export
after further processing or
packaging of imported products
can be based on a list established
by the minister responsible for
the free zones.
The main benefits of the free zones
are:
• Full exemption from corporate
tax for the first ten years of
operation and payment of a
reduced rate of 15 % thereafter;
• Tax exemption on dividends for
an unlimited period
• Right to repatriate capital and
income
• Permission to have foreign
currency bank deposits;
• More flexible labor regulations
than that provided in the Labor
Code;
• Imports of business located in
these zones are exempt from
all duties and taxes, direct or
indirect, without an import
license;
• The regime also applies to duties
on exports.
Burundi is a member of many
Regional Economic Communities
and accordingly has preferential
access to many international
markets. Below is a list of the main
organizations of which Burundi is
a member.
BURUNDI
A Business Environment in Constant Improvement
MONDAY | JUNE 23, 2014

5. T
he service allows customers
of the BNP Paribas group
(BICICI in Côte d'Ivoire)
to carry out real-time banking
operations without going to their
banks, simply by using their
Orange Money account. Customers
can transfer money to their Orange
Money account directly from their
BNP Paribas bank account, or vice
versa, simply, quickly and securely.
This flexibility in transferring
money between bank accounts
and mobile accounts will make it
easier to use the services already
offered by Orange Money, such as
payment for goods and services
(water, electricity and television
bills, etc.) and purchases of
BusinessBuzz 05
Orange and BNP Paribas open new
retail mobile banking services in
Africa with Orange Money
airtime credit. The large network
of licensed Orange Money
distributors will supplement the
network of BNP Paribas bank
branches, offering a maximum
number of cash withdrawal points
to all customers, particularly in
more remote areas.
'Orange Money and BNP
Paribasarejoiningforcestodeploy
Orange Money services to banking
customers in their common sales
territories in Africa. BNP Paribas
customers will thus benefit from
Orange Money functionalities
such as money transfers, bill
payments, merchant payments
and purchases of airtime credit.
The synergies of our businesses
will make it easier for customers
to manage their money, wherever
they are in the country and at
any time of the day,' says Thierry
Millet, Director of the Payments
and Contactless Programme at
Orange.
'This agreement gives Orange
Money customers access to
new banking services (savings
account, international bank
card, etc.) and gives BNP Paribas
customers access to an extensive
withdrawal/deposit network
and the possibility of paying
bills or buying telephone credit
from their mobile phones,' adds
François Benaroya, Retail Director
in the International Retail Banking
branch of BNP Paribas.
Through the new partnership,
Orange Money and BNP Paribas
pledge to increase the percentage
of the population holding bank
accounts by offering a fast, secure
and reliable service for managing
all daily banking operations.
Orange Money currently has
more than 10 million customers
in 13 countries in Africa and the
Middle East. Subscription to the
Orange Money service is free of
charge.
Modern Ghana
MTN ranked among top
sustainable global companies
by Newsweek
MTN has been rated among the top
500 global companies on corporate
sustainabilityandenvironmentalimpact
in the 2014 Newsweek Green Rankings.
The rankings are one of the world’s
most recognized assessments of
corporate environmental performance.
The 2014 Newsweek Green rankings
measured the environmental
performance of large public companies
using eight performance indicators,
including combined energy and waste
productivity, according to said Paul
Norman, the MTN Group chief human
resources and corporate affairs officer.
He said MTN was ranked in
position 276, with a Green Score of
35.4 per cent. Newsweek partnered
with Corporate Knights Capital and
leading sustainability minds from
non-governmental organizations
and the academic and accounting
communities to complete the rankings,
he added.
“The ranking is particularly
significant for MTN because we are in ‘a
small select group of global companies’
whose revenue is generated off a
relatively low environmental impact
basis,” said Norman.
He said the firm operates in
some of the most environmentally-
vulnerable parts of the world, where
their customers often have the fewest
economic resources to cope with the
effects of climate change. “As a result,
we are conscious of the positive role
they can play.”
In a similar development, MTN
South Africa has partnered with
the National Business Institute’s
Private Sector Energy Efficiency in
an initiative that complements MTN’s
UN Carbon Emission Reduction tri-
generation programme and other
energy conservation activities. These
initiatives will help MTN to further
improve on efforts to reduce energy
costs and greenhouse gas emissions.
Norman said the telecom’s efforts
to reduce energy use and switch to
alternative energy in Africa and the
Middle East has seen customers in
Uganda, Rwanda and Nigeria embrace
affordable solar-powered charging
solutions, while climate-friendly
technologies have been implemented
in Cyprus and Swaziland.
“MTN also offers cloud-computing
and machine-to-machine products
to address water leakage, air quality
requirements, grid power and much
more,” he added.
New Times
Orange Money
mONDAY | JUNE 23, 2014

6. E
conomic development is the utmost significant
substance in nurturing people’s proceeds and
plummeting poverty in the evolving world – it
crafts jobs and openings for poor people to upkeep
their folks and shape more firm futures.
Many emerging economies face specific challenges
that mark it challenging for them to arouse and
endure economic development. These challenges
take account of weak institutes, high redundancy,
unfortunate set-up, absence of access to financial
facilities and inappropriate laws and guidelines.
Africa, universally outlined as the thriving and
prosperous continent at the moment was once,
unfortunately termed as the Dark Continent. Today,
African countries with their thirst and pledge are
travelling the path of success and removing the tag
which they had.
After years free standing the global financial
majority, Africa is at the present fetching one of the
world’s fastest-growing evolving markets and a
progressively lucrative investment destination.
There are flawless ins and outs for this
melodramatic reconsideration. African markets are
escalating on the
back of growing
commodity prices,
trade and foreign
investment, while
increasing consumer
affluence is assisting
to push the call for
goods and services.
What’s next, the
advancement to
date is shadowed
by Africa’s gigantic
latent for economic
growth, powered by
current upgrading
in business
environments
and growing
globalization. Likewise, many African nations go
forward to be held back by concerns such as political
and civil uncertainty, poverty, poor infrastructure
and apprehensions over governance, more and more
African countries are at this time choking these fences.
In nations across the world, understanding
displays that financial improvement is intricately
allied to a strong banking sector. Banking, through its
naturally vibrant character in supporting an economy,
lifts economic action. Other financial services
companies also have an imperative persona to play,
as providers of facilities and developers of financial
infrastructure.
To convey these paybacks more efficaciously in
Africa, major banks and insurers are now actively
investigating how best to magnify their footmark
there.
India has, for a long time, documented the social
and economic requirements for a comprehensive
financial enclosure and has made a colossal
contribution to economic expansion by finding state-
of-the-art techniques to empower the poor. Beginning
with the nationalization of banks, primacy sector
lending requirements for banks, lead bank scheme,
FRANKLY SPEAKING06
Geevarghese Vaidyan
SBI Regional Head, Africa
Yaduvendra Mathur
EXIM Bank’s Chairman and
Managing Director
By kirit sobti,
editor, iat
editor@indoafricatimes.com
Standard Chartered Ghana signaled a
significant success in accomplishing
profits and income by delivering one
of the best financial results in the past
few decade. The bank’s profit before
tax increased by 60 per cent to GH¢273
million while income elevated to 49 per
cent to GH¢420 million.
On publicizing this powerful
performance to shareholders of the bank
in Accra, the management noted that
they ensured a strong balance sheet by
registering their confirmation of bank’s
guarantee to deliver on target, and
development of its client-led strategy
even more.
The bank even revealed how its
incessant commitment to maximize
shareholder value was its first criteria
even after the adverse effects of the
dollar liquidity squeeze in Ghana last
year, which at last resulted in improving
its revenue streams. Other results
include, wholesale banking income,
which grew by 59 per cent to GH¢267
million, with an operating profit before
tax up by 60 per cent to GH¢203 million.
Worth to mention that the consumer
banking income grew by 34 per cent
to GH¢153 million, with a profit before
tax of GH¢70 million, up by 63 per cent.
Earnings per share (EPS) grew by 52 per
cent to GH¢1.77, with Return on Equity
(ROE) at 43 per cent.
Kweku Bedu-Addo, Chief Executive,
Standard Chartered Bank Ghana on this
achievement commented: “Our overall
performance in 2013 is an achievement
we are very proud of as a bank, because
it demonstrates that we are building
a sustainable business with a healthy
balance between the pursuit of profits
and ensuring a robust risk management
and compliance culture.”
He, on the other hand, articulated
his apprehension on developing tertiary
sector and deteriorating agriculture and
manufacturing sector. He noted that
Ghana’s economy had become less reliant
on agriculture, which serves as the
bedrock of the Ghanaian economy.
Standard Chartered
furnishing finest
financial solutions
creation of regional rural banks (RRBs), service area
approach, self-help group-bank linkage programme,
etc., multiple steps have been taken by the Reserve
Bank of India (RBI) over the years to upsurge access
to the poorer segments of society.
India- Africa Financial relationship got a
new definition when the first ever high-level
India-Africa business conclave, CII-EXIM Bank
Conclave organized by the Confederation of Indian
Industry and India’s Export Import (Exim) Bank in
collaboration with other government ministries and
the African Development Bank in March 2005. The
conclave has went through great sustenance and
approval in the industry and has become a vibrant,
popular and busy annual event. In the recent 10th
CII-EXIM Bank Conclave, India-Africa shared a great
deal of business as both the economies got to know
about each other more.
Furthermore, bilateral trade between India
and Africa increased from $25 billion in 2006-07 to
around $70 billion in 2012-13. However, the Indian
government aims to reach $200 billion by 2020.
On the other hand, according to a CII-World Trade
Organization report
published in 2013,
India-Africa trade is
estimated to reach
$90bn by 2015.
Indian economists
have never left any
stone unturned to
prove India’s mettle,
this is always have
been liked by the
world. Similarly,
Africa is also putting
its faith in Indian
banks and their
strategies. Indian
commercial banks in
Africa are expanding
enormously and
strengthening their foothold by being in the market,
operating with businesses and customers while
building two-way trade and investment.
India’s historical and bilateral ties with the
continent are captivating Indian banks to boost their
grasp as the banking market holds a great growth
potential with renowned Indian banks in Africa are
such as Bank of Baroda, SBI, Bank of India, ICICI
Bank, etc. Sub-Saharan Africa, for example, rules
the queue in appealing bankers globally with retail
banking anticipated to grow 15 per cent annually by
2020.
Worth to mention, among all the Indian
banks, state-owned Bank of Baroda has the
biggest network of 45 branches in Uganda, Kenya,
Botswana, Tanzania, Mauritius, South Africa, Ghana
and Seychelles.
Bank of Baroda and Bank of India were the first
Asian banks to start operations in Africa. With the
Indian banks getting such a welcome in the African
market it’s crystal clear that African business is
growing and job generation is taking place.
Presently, the picture of Africa is changing with
emergence of new and confident middle class while
trade and investment is growing swiftly,
especially with engagements with India.
And Africa is leaving behind its old
technologies and joining the world in
innovations such as mobile payments. Now,
if finance relationship grows at same pace,
trade and investment ties will grow and
more Indian banks will have even more
reasons to be active in Africa.
It’s equally important to have
excellent political equations between the
governments and expanding potential for
economic ties which is essential to provide
the necessary incentive for establishment
in and of the continent.
SBI’s banking presence
in the African continent, apart
from South Africa, extends
to Mauritius, Nigeria, Egypt
and Angola. SBI is also in
the process of setting up its
subsidiary bank in Botswana
and is keenly looking to
expand to other growing
economies of the continent.
African continent is
one of the most important
partners for the country
and 11 fastest growing
economies in the world are
in Africa. We are looking at
infrastructure development
in Africa, the big project
exports. We are encouraging
entire private sector in India
to get into these sectors.
Indian Banks putting
faith in Africa
Sub-Saharan
Africa, for
example, rules
the queue
in appealing
bankers
globally with
retail banking
anticipated to
grow 15 per
cent annually
by 2020
MONDAY | JUNE 23, 2014

7. TRAVELtourism 07
S
outh Africa is an incredible nation for
some very different and amazing reasons.
It has some very striking regions with
sights of fanciful beauty. There are some
tremendous game parks with a variety of wild
animals, birds and reptiles.
Where else in the world can you drive into
a park like our Kruger National Park where
many species can be watched from your car
or a tour bus. You can really look out nature
doing its own thing. You may be blessed
enough to see a pride of lions stalking and
take by surprise something like a zebra or
wildebeest and actually making a kill.
South Africa brags a number of extremely
-modern yet typically African cities, where
skyscrapers, boutiques, and 5-star hotels co-
exist harmoniously with vivacious African
markets and jam-packed settlements. Iconic
Cape Town knew its first inhabitants as
early as 100,000 BC. Today, it is a diverse
city of awe-inspiring magnificence encircling
a Natural World Heritage Site, the Table
Mountain National Park.
Durban is a widespread holiday
destination in which the shades, spices, and
songs of its people have welded into an
exclusive new drapery, and Johannesburg or
eGoli (place of gold) became a city in 1886,
during the gold rush. Today, Johannesburg
and its more African alter ego, Soweto, forms
the pulsing industrial heart of South Africa.
South Africa is at the moment one of the
largest economic sectors in South Africa with
around 700 hotels, 2,800 guest houses, and
more than 10,000 restaurants. The Rainbow
Nation is well branded for its ecotourism,
including photographic safaris, bird watching,
botanical studies, mountaineering, snorkeling,
and hiking.
The country boasts several National Parks,
with the largest being Kruger National Park
in the Northern Province and Mpumalanga.
Major tourist magnetisms include Table
Mountain and the cable way, Victoria and
Alfred Waterfront, Cape of Good Hope Nature
Reserve, Kirstenbosch National Botanical
Gardens, Oudshoorn (Cango Caves, Cango
Crocodile Ranch, Highgate and Safari Ostrich
Farm), Karoo National Park, Sea World,
Howick Falls, Drakensberg, Umfolozi Game
Reserve, Natal National Botanical Gardens,
St. Lucia Game Reserve, Pilgrim’s Rest,
Gold Reef City, Pretoria National Botanical
Gardens, Warmbaths, Sun City, Lost City, and
Pilanesberg National Park.
Pretoriaisacitypositionedinthenorthern
part of the Gauteng Province, beforehand
known as Northern Transvaal, South Africa.
Even though mainly a government-based
city, it is also a place of culture, with theatres,
museums, and monuments. Pretoria is located
in the transitional area between the Highveld
and the Bushveld, approximately 50 km north
of Johannesburg and lies in a warm, well
sheltered, fertile valley, enclosed by the hills
of the Magaliesberg range.
This country’s exquisiteness, plentiful
wildlife, captivating history, and culture are
major tourist attractions that have grown
globally to become iconic, travel destinations.
South Africa’s eight UNESCO World Heritage
Sites are: Cradle of Humankind, Mapungubwe
CulturalLandscape,RobbenIsland,CapeFloral
Region, Isimangaliso Wetland Park, Vredefort
Dome, the uKhahlamba/Drakensberg Park,
and the Richtersveld Cultural and Botanical
Landscape.
There's more than one way to get to South
Africa. All the big cruise liners dock in Cape
Town and sometimes Durban but for most
travelers flying is the choice of travel. South
Africa has 10 principal airports, including
3 major international airports. Tambo
International Airport (formerly Johannesburg
International) is the major gateway, offering
both domestic, African regional, and
international connections. There are also an
increasing number of international flights
direct to and from Cape Town, and a few
direct to and from Durban. And for cross-
border flights to neighboring countries, there
are more than 30 airports in South Africa,
ranging from small to large.
South Africa is served by more than
70 international airlines and its national
carrier, South African Airways, flies to many
destinations in Europe, North and South
America, Asia, Australia, New Zealand, and the
rest of the African Continent.
Travel adventures in Rainbow Nation
mONDAY | JUNE 23, 2014

8. TALKINGTECHNOLOGY08
B
lend Financial Services Ltd.
(BLEND) was set up in 1997
in Mumbai and over the
years has emerged as one of the
leading financial and management
advisory company. Headquartered
in Mumbai, it has offices in UAE,
Singapore, Hong Kong, and Kenya
along with five major cities in India.
In addition to these locations the
company is very active in the
financial markets of London, New
York, Geneva and GCC countries
for meeting the varied funding
requirements of its clients. The
core business is driven by a multi
disciplinary team of over 120
experienced professionals from
rich and diversified backgrounds
guided by an eminent panel of
Experts from industry, banking
and financial sectors.
Why BLEND?
Exceptional Reach to Lenders
Globally: BLEND maintains and
nurtures strong relationships
with over 300 banks and financial
institutions at the decision-making
level across Asia-Pacific, Europe,
Russia, Americas and Africa.
Ability to Raise Funds in
Multiple Geographies for Same
Client: Having access to lenders
and financial institutions globally
has equipped BLEND to be in a
unique position to provide a global
platform to raise money for large
and mid-sized companies, which
are present in one market but also
aspire to set-up and/or expand in
virtually any country in the world.
Innovative Transaction
Structuring Capability: BLEND
has been a pioneer in providing
be-spoke solutions with wide
structuring capability by way of
using various credit enhancement
mechanisms including insurance
wrapped structures with a
combination of structured trade
finance, ring fencing country and /
or Utility risk etc..
Giving Access to Aspirational
Cost of Funds: Through Blend’s
innovative structuring capabilities
andextensivenetwork,clientisnot
only able to achieve successful and
timely financial closure but also is
able to optimize cost of funds at
lowest possible benchmark-levels
in respective markets.
Preferred Partner for
Lenders: Over a period of time
BLEND has become the partner of
choice as it brings to them access
to top-most and premier clientele
with strong risk profiles and credit
enhanced transaction structures.
Exemplary Track Record:
BLEND has a track record of
successfully working with over
1500 corporates world-wide in
last two decades and is currently
executing a deal pipeline of over
USD 7 billion across sectors and
geographies.
BLEND IN AFRICA
Capacity building for banks
and institutions BLEND has
partnered with the African Export
Import Bank, (Afrexim Bank)
for promoting factoring across
the African continent that will
facilitate increased lending to the
under-served SME sector. BLEND
is also an Executive Committee
Member of the Africa Chapter of
International Factors Group (IFG)
which has a mandate to promote
factoring across Africa..
BLEND has developed a
co-branded factoring Advisory
Product called “AFRIFACTOR”
with Afreximbank which will be
shortly rolled out pan-Africa on
Build-Train-Transfer (BTT) model.
BLEND’s recently executed
projects includes advising Jamii
Bora Bank, Kenya to setup “first
of its kind” factoring business
platform in East Africa on build,
operate, train and transfer model.
MOCs signed with African
Guarantee Fund for enhancing
capacity in Financial Sector
in Africa; Kenya Investment
Authority and Water Sanitation
for Africa, an entity set-up
by 32 African Governments
headquartered in Senegal.
Larger Production suite to
cater to every situation:
Blend’s specialized banking
product offerings include:
» CMA Financing
» Structured Trade Finance
» LC/TR Financing
» Factoring
» Alternative Trade Finance
» Vendor Financing
» Subsidiary and / or SPV
funding
» Project Financing
» Term Loans
» Working Capital both fund and
non-fund limits
» LBO Financing
» Mezzanine Financing
» Credit Insurance Advisory
» Giving access to Government
projects in Africa to corporates
» Factoring advisory to Lenders
» Leasing business advisory to
Lenders
» Developing SME Finance
products
Advising Corporates on their
fund raising initiatives:
Currently, BLEND is working
in over 20 countries in Africa
on diverse transactions and
expanding its activities to cover
larger number of countries going
forward. With wide coverage in
African markets, BLEND provides
customized banking solutions to
clients for meeting their trade
and project finance requirements.
From plain vanilla term loans to
structured trade finance solutions,
the range of products is integrated
and multi-dimensional in nature
with end-to-end solutions that
could be optimally customized
across multiple jurisdictions.
The deal ticket sizes range from
USD 10Mn to USD 1Bn+ being
significantly wide. BLEND has
developed close relationships
with over 100 banks/ financial
i n s t i t u t i o n s / m u l t i l a t e r a l
Global Expertise in banking for African Markets
institutions/development finance
institutions and government
agencies in Africa, which keeps
growing with each passing day.
Select Ongoing Mandates as follows
COUNTRY SECTOR FACILITY TYPE QUANTUM
Kenya, Tanzania, Nigeria, Namibia
and Uganda.
Power transmission sector
Guarantee, Letter of Credit and Asset
Finance
USD 280 million
Ghana, Kenya, Nigeria, Malawi,
Zambia
Agri commodities Trading Trade Finance Bill Discounting USD 500 Million
Kenya Infrastructure – Roads Working Capital Project Finance USD 160 million
Ghana, Kenya, Sudan, Egypt Steel Industry Import Financing Facility Term Loan USD 200 Million
Malawi, Zambia, Tanzania Fertilizers Structured Trade Finance Facility USD 100 million
Pan-Africa Agri commodities trading Trade finance USD 100 million
Malawi Integrated – Sugar Factory Term Loan USD 80 million
Kenya, South Africa, Mozambique,
Ivory Coast, Cameroon
Agri commodities - Rice Structured Trade Finance facility USD 100 million
Ghana Infrastructure- Water Supply Term Loan USD 100 million
Zimbabwe Power Term Loan USD 55 million
Cameroon sugar , power and distillery Term Loan working capital USD 90 million
Ghana
Agri commodities – Cashew
Processing
Refinancing facility of Working
Capital
USD 30 million
Tanzania Petroleum – Used Oil Refinery
Term Loan for reimbursement of cost
of setting up the project.
USD 27 million
Sierra Leone Power - Rural Term loan USD 25 million
Gabon Timber Processing Term Loan and Working capital funding USD 12 million
For further information please contact:
Mr. Manish Khilnani
VP- Africa Business Strategy
Board Line: 91-22-67770000;
Direct: 91-22-67770054;
Mobile: 91-9833778118;
Email-Id: manish@blendfinance.com
Website: www.blendfinance.com
Ms. Isha Desai
CRM- Africa Desk
Board Line: 91-22-67770000;
Direct: 91-22-67770051;
Mobile: 91-9820371739;
Email-Id: isha@blendfinance.com
Website: www.blendfinance.com

In the first row-sitting - Dr. Benedict Oramah, Afreximbank Executive Vice-President (7th from left) with presenter O.S.
Vinod, Director, BLEND Finance (9th) at the Afrexim Bank Factoring Conference in Douala, Cameroon for Bankers in Africa.
MONDAY | JUNE 23, 2014

9. TRYSOMETHINGNEW 09
Ingredients
• 6 medium baking potatoes
• 3/4 cup, cheddar cheese, shredded
• 1/3 cup, butter
• 6 slices bacon, fried and crumbled
• 1/3 cup green onion, thinly sliced
• Salt pepper
Prepration Method
1. You can add these ingredients to the
mashed potato centers if desired.
2. 1/3 cup milk 1/4 cup butter salt and
pepper a few drops hot sauce Scrub
potatoes, dry, then pierce with fork
several times.
3. Arrange on a baking sheet and bake in
375 degree oven for about 1 hour or until
tender.
4. Let stand until cool enough to handle. Cut
potatoes in half lengthwise and scoop
out centers, leaving 1/8 potato in shell.
Must make snack
Times Gehena Surat
By having a direct conversation
with the wedding professionals, the
wedding couples can adopt the
techniques which will help them in
making their wedding unique and
different from others. This show
will also attract experts related to
wedding industry to focus on the
marketing opportunities associated
with the wedding industry. Times
Gehena Surat is designed to
provide useful as well as relevant
information to the interested bride
and groom and the attendees those
who want to make their wedding
attractive as well as decorative.
Date: 01-03 Aug 2014
Venue: The Grand Bhagwati Surat, India
Gifts World Expo - Delhi
The Gifts World Expo is one of
the highly distinguishable expo
for corporate gifts premiums.
Hosted by the Media Expositions
Events at Pragati Maidan, New
Delhi, India, the event emerges out
as a rendezvous between various
professionals of the sector from all
parts of the world. It is the niche
event in displaying acrylic gifts,
calculators, candles, ceramic gifts,
chocolates, toys games, home
appliances, key chains, lamps,
leather gifts etc.
Date: 01-03 Aug 2014
Venue: New Delhi, India
Vastra Vibha Exhibition
Vastra Vibha Exhibition is a 3 day
event being held from 2nd August to
the 4th August 2014 at the Sri Satya
Sai Nigamagamam in Hyderabad,
India. This event showcases
products like Designer Apparel,
Imitation Jewellery, and Fashion
Accessories etc. in the Apparel
Clothing industry.
Date: 02-04 Aug 2014
Venue: Sri Satya Sai Nigamagamam,
Hyderabad, India
Bakery Expo
This event showcases products
like baking ovens, bakery bread
plants, bread slicers, bun dividers,
cookie mfg. Machines, packaging
machinery, pizza ovens, microwave
ovens, refrigerated display
counter, dough sheeters, planetary
mixers, baking agents, chocolate
manufacturers, raw materials,
bakery enzymes, chocolate
finishing ingredients, partly baked
and finished products, ice cream
dispensers, decorative items
baking accessories, laboratory
measuring equipment, bakery cafe
furniture, trays, pans, containers,
tortilla, and specialized publication
etc. in the Food Beverage
industry.
Date: 04-06 Aug 2014
Venue: Gujarat University Convention
Exhibition, Ahmedabad, India
HGH India
HGH INDIA is one of the best
events of its kind which will have
more than 500 exhibitors from the
sectors of gift items, home decors
and housewares. Being a part of
this event will help the exhibitors
to showcase all their products and
services related to the sectors and
the participating companies will
definitely get a good opportunity
to reach out to customers. The
exhibitors can even utilize this
opportunity to launch new products
and services which will help them
to gain access to new market
segments.
Date: 05-07 Aug 2014
Venue: Bombay Convention Exhibition
Centre, Mumbai, India
upcoming
Many people may want to quarrel and fight with you; realize that
the only weapons you need are a smile and a lovely attitude
THOUGHT OF
THE WEEK
Dancer's Potato Skins
African Cuisine
Handy French
Discover your personality traits!!
5. Cover.
6. Chill shells up to 2 days until ready to use for the
skins
7. If desired, add the 1/3 cup milk, 1/4 cup butter,
salt and pepper to use potato centers as mashed
potatoes.
8. When ready to prepare skins, melt the 1/3 cup
butter.
9. Brush shells with the butter, inside and out.
Place, cut side up, on baking sheet. Bake in a
500 degree oven for 20 minutes or until brown
and crisp.
10.Distribute some bacon, onion, and cheese in
each shell.
11.Bake just until cheese melts.
12.Serve hot. If the potatoes are large, you may
want to cut in half crosswise before serving.
13.You may want to double this recipe if you are
serving several people, especially if they are
hungry!
14.Serves: 6
picture of the week
The Prime Minister of India, Shri Narendra Modi with the Prime Minister of Bhutan, Mr. Lyonchhen Tshering
Tobgay, at a bilateral meeting, in Thimphu, Bhutan on June 15, 2014.

Lake Malawi contains the
largest number of fish
species of any lake in the
world, probably over 500
from ten families.
1. May I help you?
Puis-je vous aider?
2. I’m so happy.
Je suis très heureux(euse).
3. You are an intelligent boy.
Vous êtes un garçon intelligent.
4. I have an idea
J’ai une idée.
5. What should I do?
Qu'est ce que je dois faire?
1. Take the dog for a walk
2. Take the stairs instead of
a lift or escalator
3. Join a local sport,
recreation or fitness club
4. Have a balanced lunch
to keep you going during
the day
5. Drink water instead of
sugary drinks
6. Sit less and move more
Active
Tip for being
 January
Smartness and efficiency are among
the numerous traits of people born
in the month of January. They are
also very determined and diligent,
the characteristics which make them
highly productive at work. They are
strong, hardworking and very tolerant
individuals. Success to these people
does not come overnight. They have
to fight hard to achieve their goals.
 February
People born in February are generally
far from reality. They are interesting
and intelligent, but are preoccupied
with intellectual thoughts. They are
outstandingly loyal and devoted to
the people they love. People born in
February are also enormously caring
and are romantic on the inside and not
on the outside. They are very sensitive
when it comes to their relationships.
 March
Warmth and charm are the abilities
which are often linked with people
born in the month of March. They
are very concerned and love to serve
others, if given their due respect.
Honesty and dependability are
among the various virtues possessed
by individuals born in this month.
They enjoy sports as much as they
enjoy working for a living. They are
energetic, initiative and brave.
 April
Those born in the month of April
can be termed as brave and firm.
Their liveliness encourages an
aura of brightness wherever they
go. Friendships mean a lot to them
and they are intense to solve other
people’s problems. They are good-
looking and loving people and are very
heartening at the same time. Most of
them lead a happy and wealthy life,
owing to their strong determination.
 May
Individuals born in the month of
May are very thoughtful, firm and
enthusiastic. Their physical appeal
combined with their mental strength
makes them without question
appealing. Really hardworking and
always on the move, these people
always keep themselves occupied
with something or the other and detest
wasting time.
 June
Friendliness, hilariousness and
talkativeness are the common
characteristics of people born in the
month of June. Also, they lack will
power and at times rely on others to
solve their problems. When it comes
to relationships, they are caring,
lively and romantic. Not only are
they amicable, they are equally good
talkers.
 July
People born in July are fun-loving and
are always jolly. Usually, they take
pride in all the things they do and are
very liberated by nature. Caring their
loved ones and upholding healthy
relationships with others is very vital
for them. When it comes to lifestyle or
the dressing sense, they can be highly
unconventional and always strive to
be perfect.
 August
The month of August is conquered
by the zodiac sign, Leo, with the last
few days falling under Virgo. A Leo
owns a positive outlook towards life
and is very passionate and is full of
life. He/she is proud and determined
and is also a great achiever who sets
examples for others. They are brave
and courageous when it comes to
confrontation and are natural leaders.
 September
Classified as perfectionists, people
born in the month of September
are really hard working. Their only
problem is that they like to point
out other people’s mistakes and
criticize them even for trivial matters.
Otherwise, they are calm and
composed individuals and generally
excel in the professions such as
medicine, law, and teaching, writing
and designing.
 October
These people are particularly
motivated and attain great heights
in their career, owing to their
charming personality and sense
of diplomacy. Particularly secure
and decisive, they are kindhearted
and are fascinated to competitive
individuals. However, they can also
chase challenging endeavors and
owing to their tenacity, they succeed
in achieving whatever goals they set
for themselves.
 November
These folks are known for their
forward thinking and are always
full of exclusive and amazing ideas.
They are very loving and caring to
their partners and exhibit a great
deal of passion in their relationships,
but one of their negative traits is that
they can be a little jealous at times.
 December
Generally, individuals born in the
month of December are fun to
be around and thus make a lot of
friends and fans. These truthful and
reliable individuals are modest and
harmonious, however they often
tend to be a little short tempered.
They are adventurous, assertive and
can be a little assertive at times.
mONDAY | JUNE 23, 2014

10. THEFASHIONISTAS10
I'll forever remain NDC – Mr. Beautiful
Ghana's fastest rapper, Sarkodie
has won the 'Best Hip Hop' at the
2014 MTV Africa Music Awards
at the Durban International
Convention Centre (ICC) in Durban,
South Africa.
Sarkodie beat AKA (South
Africa), Ice Prince (Nigeria), Khuli
Chana (South Africa), and Olamide
(Nigeria) to win the award.
Nigeria's Tiwa Savage beat
Ghana's songstress Efya to the
'Best Female' category. That
category also had Arielle T (Gabon),
Chidinma (Nigeria), DJ C'ndo
(South Africa) as nominees.
Shortly after winning the award,
Sarkodie took to microblogging site,
Twitter to thank God and his fans
for helping him win the award.
'Teamsark I looove you!!!!
Thanks 2 God almighty!!! We
won!!!! GHANA!!! Thanks for ur
vote. God bless yall', he tweeted
and added that, 'God is Good'.
Modern Ghana
Award winning record producer,
sound engineer and rapper EL
says it is less expensive to shoot
music videos in South Africa
than in Ghana.
'It's cheaper to shoot a video
in South Africa' he said. The
young and talented musician
disclosed during an interview
on Hitz FM.
The 30-year-old
known in real life as Elorm
Adablah explained that it is
cheaper shooting outside
the country due to the
exchange rate of the Dollar
now.
A
fter allegations early this year that he has
been sidelined by movie producers in the
Ashanti region for openly displaying his
political colors and rallying behind the National
Democratic Congress in the 2012 elections, the
Fanti speaking witty actor, Clement Bonney,
says his support for the ruling party will remain
unshaken.
Describing movie producers who have
refused to engage his services because of his
political affiliation as 'immature', Mr. Beautiful as
he is affectionately called, stated that political
differences should not bring about enmity
between people.
Reacting to a texter's
question to an
entertainment program
on ETV over the
weekend on why he
joined politics, the
audacious actor
wondered why
celebrities who
openly mounted
c a m p a i g n
platforms and
compose songs for
the New Patriotic
Party's 2008 and
2012 presidential
candidate were not
given the demeaning same treatment.
'Four years ago celebrities in this
country supported Nana Akufo-Addo,
but no one raised concern about their
involvement in politics, so why the
fuss over mine. I can assure you that
I'll forever remain NDC and support
President Mahama 1000 times,' Mr.
Beautiful vowed.
Adding 'anybody who thinks
that way is immature. Our political
affiliations should not make us
enemiesI will continue to support
President Mahama and NDC.'
AskedaboutwhyhespeaksFantiin
movies when most of the productions
are done in the Ashanti region and
the scripts written in Asante Twi, the
well-known local actor retorted that
he feels proud holding the flag of his
mother region, the Central region.
'I have received calls from 'big men'
and respected people of the Fanti
land including chiefs for speaking my
native Fanti in all my movies. I can
speak very good Ashanti Twi, but I
won't use it for movies. I'm proud
of my language and if a producer
gives me a script in Asante Twi I'll
reject it. My people back home have
been praising me for promoting the
language,' he said.
Touching on why movie
production has been concentrated
in the Ashanti region and why
other regions cannot do their
own production, Mr. Beautiful,
in an apparent swipe at Ghana's
populous region, stated that the
Ashanti dialect permits the use foul
languages hence it is easy to use it
for movie production.
'The Northern belt frowns on the
use of foul language, it is the same in
the Volta and the Southern coastal
belt, those part of the country do
not allow it either but those at the
middle belt of the country consider
the use of foul language as normal,
so it is easy to produce movie in
that part of the country because
you have the liberty to say all the
bad things,' he explained.
According to him the assertion
that movies in the local dialect have
no future is true, explaining that
'the movies are full of insults and
anything made of insults certainly
has no future. That is how the
language is structured it is full of
insults.'
Modern Ghana
Sarkodie wins Best Hiphop at
2014 MTV Africa Music Awards
He also said that Ghanaians
love music videos shot outside
the country, the main reason
why he will continue to shoot his
videos outside Ghana.
'I will keep going to South
Africa to shoot my videos,' he
said.
EL has produced hit songs
for several of the country's top
music acts including Sarkodie's
You Go Kill Me, D-Black's Get
On the Dancefloor, Reggie
Rockstone's Rockstone's
Office and Asem's Check Your
Weight.
Modern Ghana
It's cheaper to shoot a music
video in South Africa-EL

Clement Bonney

Ghana's fastest rapper, Sarkodie

Elorm Adablah
MONDAY | JUNE 23, 2014

11. SPORTS2WATCH 11
Ghana defender John Boye is
ranked amongst the 10 best
players so far at the 2014 World
Cup in Brazil. The Stade Rennes
stopper came 8th in a statistical
ranking done by FIFA after the
first round of group games.
FIFA used information
gathered from the renowned
football engine Opta to conduct
Airtel offers Nigerians
affordable roaming rates
in Brazil ...Slashes roaming
rates to as low as N60
Ghana defender John Boye named amongst
top ten performers at 2014 World Cup
its rankings which
sees German
forward Thomas
Muller on top of
the pile with a 9.75
rating.
Boye lasted the
entire duration in
Ghana's shocking 2-1
defeat to the USA in
their opening Group G game in
Natal. The 27-year-old however
appeared amongst the best
statistical performers after the
first round of matches at the
World Cup despite playing in
a jittery Black Stars
defence in the defeat
to the United States.
Boye ended up
with a 9.45 rating
having won five of
his seven tackles,
eight recoveries,
eight clearances
and a block in
the defeat to
the USA. He
is also said to
have completed
91 percent of his 44
passes in the game
against the USA. The
Black Stars defender's
statistics bettered that
of Chile's Alexis Sanchez
and Tim Cahill of Australia.
He is however behind the
likes of Arjen Robben, Robin
Van Persie and Phil Jagielka.
Below is the full list of
FIFA's best players at the 2014
World Cup thus far.
Modern Ghana
Leading telecoms services
provider, Airtel Nigeria, has
announced a special discounted
roaming package that will enable
Nigerians, who are travelling for
the on-going 2014 World Cup
in Brazil, to stay in touch with
friends, family members and
business associates at affordable
rates.
According to Airtel, the
new package underlines its
commitment to providing
innovative and affordable
telecommunications services to
telecoms consumers across the
country and abroad.
With the new value offering,
Nigerians in faraway Brazil, can
now enjoy affordable call rates
within Brazil and also make and
receive calls for as low as N60
to all mobile networks in Brazil
and Nigeria. Customers will also
enjoy discounted SMS rate of
N50 and data rates of N1/10kb.
Speaking on the new roaming
package, the Chief Commercial
Officer of Airtel Nigeria, Maurice
Newa, said the offering reflects
Airtel's commitment to creating
innovative and affordable
telecoms services, noting that
the company is passionate about
realizing its vision of becoming
the most loved brand in the daily
lives of Nigerians.
'At Airtel, we will not relent
in creating platforms and
opportunities that will enrich
the lives of our customers and
also empower them to succeed
in their respective endeavours.
'Our new discounted roaming
package for Brazil 2014 is
a glowing testimony to our
quest of providing the right
platforms to enable telecoms
consumers achieve more in their
professional and personal lives,'
he said.
The discounted roaming
package is available for
both prepaid and post-paid
customers. The service is default
for prepaid customers on arrival
in Brazil. However, prepaid
customers must ensure that they
have sufficient airtime in their
account and may be required
to buy additional airtime in the
event they run out of airtime in
Brazil.
Post-paid customers who
have enabled roaming services
on their lines will have access to
the offer.
However, post-paid
customers who are yet to
activate roaming on their lines
will be expected to visit the
nearest Airtel Shop to activate
the service before travelling to
Brazil.
The Airtel World Cup
roaming discounted offer rates
are only valid for calls made to
local networks in Brazil, calls
made to Nigeria from Brazil,
SMS's sent while in Brazil and
data and internet activities while
roaming in Brazil. Calls made to
other countries will be charged
at the existing roaming rates for
those countries.
The Airtel World Cup
roaming discounted offer rates
are only available on CLARO
network in Brazil.
Modern Ghana
Africa Cycling
Centre to boost
tourism
The maiden Africa Rising Cycling
Centre launched in Musanze
will boost the tourism industry
according to Rwanda cycling team
coach American Jack Boyer.
The Centre is set to be a world’s
cycling hub with professional and
amateur cyclists set to benefit from
its training and expertise given the
uniqueness and the splendor of this
gigantic facility in Africa.
Sixteen houses, a fully equipped
service course, Rwanda’s 1st BMX
pump track, an education centre,
an organic vegetable garden are
among the facilities at the centre
located in the northern Musanze
district, at 2000m altitude.
Boyer said that the Africa
Rising Cycling Centre will focus
on boosting the level of cycling in
Africa and the World at large.
“This centre will be home
to African teams and European
professional clubs as they target to
benefit from high altitude training. It
will also be paramount in such a way
that it will transform the Rwandan
youth into better cyclists,” he noted.
The region of Musanze is reknown
for gorilla trekking, and the centre
is looking to exploit that advantage.
“Every single tourist that comes to
Rwanda will be passing through our
centre,” says the country’s national
cycling coach.
The centre’s outdoor cafe will
be open for the tourists to meet,
relax and share their Rwanda
experience. This will be a source of
revenue for a team whose income
is far from stable and rarely secured
more than three months ahead.
Boyer further added: “My goal is
just to change a life. If you try to
change things for everybody you
just end up getting depressed. This
is the most difficult thing we’ve ever
done but it’s absolutely the most
rewarding.”
New Times

Ghana defender John Boye
mONDAY | JUNE 23, 2014

12. ENCOUNTER WITH EDITOR12
How was your experience in the 10th
CII EXIM Bank Conclave on India-
Africa Project Partnership?
It’s my first visit to India and this
experience is amazing. The relations of
India and Uganda is marking its presence
from last two centuries. Like India,
Uganda is also on the path of motivating
its economic structure of small and
medium size business (SME’s). Uganda
is delineated as the second biggest
producer of coffee in Africa.
At the 10th CII EXIM Bank Conclave,
we are in discussion with an Indian
company to put a processing plant in
Uganda and bring Ugandan coffee to
India and to the world.
All in all, we are trying to do our best
to develop a kind of structure which
permits small medium and medium
size business people and consultants
to flourish in a business friendly and
conducive environment at every step.
Indian private sector could nurture
a fast growth in Uganda’s agriculture
sector. The recently discovered oil
and gas reserves, as well as Uganda’s
huge reserves of non-oil minerals are
also parts of Kampala that would be
considering to have foreign investments.
Excellency, what are the endeavors
made by the Ministry in order to
improve the financial stability of the
country?
Uganda is what we call an Open-
Economy, you can bring any amount of
money in Uganda to invest and you can
take it out in the form of dividends and
repatriated profits or buy more inputs, as
there are no restrictions.
Our currency is flexible, we are trying
to reframe our regulatory framework
business regulation to make sure that
investors don’t get stuck up with red tape.
Uganda relishes a stable political and
macro-economic environment that is
enormously conducive for investments.
Uganda has been one of the fastest
growing economies in the world in the
last 20 years. The country has made
noteworthy oil discoveries and has huge
reserves of minerals like cobalt, uranium,
graphite, etc.
How easy is it for a foreign investor to
start a company in Uganda?
We are working on it to make it as
easy as possible. Uganda Investment
Authority is a one stop center for any
investor who wants to start a business in
our country.
We are trying to make it easier for
investors to find out how to get a tax ID,
business license, a construction permit,
environmental assessment, etc. for the
commencement of business.
What about the funding options
available with Uganda, are you using
the lines of credit being granted by the
EXIM Bank of India?
Actually we have not been using
the lines of credit granted by the EXIM
Bank of India and that’s the reason why I
came here to see how we can encourage
financing to and for our people.
We are open to any kind of financing
available.
And in this endeavor, we think that
Indian business can assist us. Money is
not a problem for us, it is how to qualify
for the money.
Uganda is most commonly dubbed as
the pearl of Africa, how do you wish to
endorse the tourism sector of Uganda
in India?
Uganda is a basket full of abundant
activities for tourists and visitors to
get pleasure from. With 500 species
of mammals, Uganda has incredible
multiplicity.
On top of this, Uganda has a good
number of chimpanzees and there are
several places where one can track them.
With well over 1000 species registered
inside its borders, Uganda is also one of
the best bird-watching destinations in
the world.
It worth to mention, that a common
tourist visa has been introduced together
with Kenya and Rwanda, allowing tourist
to buy one visa and enjoy the beauty,
hospitality and nature of three countries
i.e. Uganda, Kenya and Rwanda.
There is no doubt to accept that Uganda is the leading investment destination in East Africa. The country continues
to liberalize and endorse both local and foreign investment, whilst at the same time firming its investment regulatory
framework for various policy purposes. Hon. Maria Kiwanuka, Minister of Finance, Planning and Economic
Development from Uganda get candid with Kanchi Batra, Indo-Africa Times for an exclusive interview. Edited Excerpts.
Owner / Publisher / Editor: Mr. Kirit Sobti from 3rd Floor, Plot No. 3, Block PSP-IV, Service Centre Opp. Sector-11 (Extn.), Rohini, Delhi-85
Printed at LIPEE SCAN PVT. LTD. 89 DSIDC SHED Okhala Phase 1, New Delhi
“A common tourist visa has been introduced
together with Kenya and Rwanda”
Hon. Maria Kiwanuka
Minister of Finance,
Planning and Economic
Development, Uganda

Uganda relishes a stable political and
macro-economic environment that is enormously
conducive for investments. Uganda has been
one of the fastest growing economies in the
world in the last 20 years.
MONDAY | JUNE 23, 2014