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MONDAY | JUly 14, 2014 Title Code: DELENG18579 • RNI NO: DELENG/2014/54666 • Postal Registration No.: DN/325/2014-2016 • VOL. 1 • NO. 27 • Page 12 • Price `10
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Let's Roll!!!A Vision of a Solidly United Senegal
Mohamed Dionne
Named New
Prime
Minister
of Senegal
S
enegal's President Macky Sall has named Mohammed Dionne as
the country's new Prime Minister. Mahammed Boun Abdallah
Dionne is conceived as a close kin of the Senegalese President
Macky Sall. IT specialist and economist, he was a Cabinet Director of
Macky Sall then Prime Minister (2004-2007).
Beforehand he has functioned for the United Nations Industrial
Development Organization and was a government minister in charge
of implementing a multi-billion-dollar development plan in Senegal.
Mohamed Dionne, 54, is the third Prime Minister serving under
President Macky Sall, after Toure and former banker Abdoul Mbaye.
Dionne said after meeting with the President that he has been
given a guideline that calls for swiftly getting to work.
“The head of state has given me… a roadmap whose contents can
be wrapped up in two words: let’s roll,” Dionne told the press after
meeting Sall.
“Let’s roll, so his vision of a solidly united Senegal becomes a
reality under the rule of law.” Dionne underlined development in
agriculture and security as tops on his outline.
"The head of state gave me and government of the Republic a
roadmap that can be broken down into few words... get to work,"
Dionne said.
Dionne'sselectionisexpectedtoopenthewayforthegovernment
The Most
Dynamic
Country in
Africa:
Mozambique
A Place of
Spectacular
Natural
Exquisiteness:
Malawi
Sustainable
development is
my government’s
priority
A Growth
Oriented
Budget
2014-15
Ghana Gears Up
For Glasgow
Commonwealth
Games
Wassupafrica02
The much awaited Union Budget
2014-15
AfDB pushes its Green Bonds: New projects,
principles and products
P
rime Minister of India
Narendra Modi has
encountered the major exam
of his reform credentials, when his
fresh-faced government presents
its first budget.
Modi,63,withanoverwhelming
election victory in May and with
an assurance to lift growth and
create jobs for the 1 million people
who enter India's workforce every
month. No doubt, Finance Minister
Arun Jaitley's maiden budget has
lived up to BJP's assurance of
leading to Achhe Din (Good Days).
However the Finance Minister
attempted to give relief to the
individual taxpayers in what his
party labelled a ''growth-oriented
budget'', he though stopped short
of coming up to the concerns
regarding other sectors, which
were enthusiastically expecting
some relief.
"I propose not to make any
changes in the tax rate. However,
with the view to provide relief to
small and marginal and senior
citizen, I propose to increase the
personal income tax exemption
limit by Rs 50,000 from Rs 2 lakh to
Rs 2.50 lakh in case of all individual
tax payer who are below the age of
60 years," the Finance Minister said
while bestowing budget for 2014-
15 in Parliament.
The most imperative
declarations made by the Finance
Minister are as follows:
Salaried Class
Raising Income tax exemption
limit: Although the slab of tax free
income has not enthused up in line
with real inflation, Arun Jaitley's
notice on taxation has carried some
sort of respite to the individual
tax payers as it will upsurge the
purchasing power of individuals
and arouse demand.
The personal income-tax
exemption limit has been raised
Greengrowthisacorporatepriority
of the Bank that it achieves through
the financing of eligible climate
change mitigation and adaptation
projects. AfDB Green Bonds – rated
Aaa/AAA/AAA – help the Bank
reach that goal.
Proceeds raised through
the sale of AfDB Green Bonds
are allocated to a sub-portfolio
within the Treasury’s liquidity
portfolio until they are disbursed
to eligible green projects. To date,
outstanding AfDB Green Bonds
(including green-themed uridashi
bonds sold to Japanese investors)
amount to US$ 993 million against
a total eligible project pipeline of
US$ 1.6 billion.
Examples of eligible mitigation
and adaptation projects include:
renewable energy generation;
energy efficiency; vehicle energy
efficiency, fleet retrofit or urban
transport modal change; biosphere
conservation; solid waste
management; fugitive emissions
and carbon capture; urban
development; water supply and
access; and low carbon transport.
For the Bank’s Green Bond
portfolio, a specific set of guidelines
have been set up and outlined in
the Bank’s Green Bond Framework.
Zimbabwe prepares for SADC Summit
By Kizito Sikuka
The 34TH
Summit of the Southern African
Development Community (SADC) will be
held in August in Zimbabwe.
The theme for the summit set
for Victoria Fall, Zimbabwe is “SADC
Strategy for Economic Transformation:
Leveraging the Region’s Diverse Resources
for Sustainable Economic and Social
Development.”
As per the tradition, the host President,
Robert Mugabe of Zimbabwe will assume
the SADC chair from his Malawian
counterpart Peter Mutharika.
Malawi hosted the last SADC Summit
in August 2013 in Lilongwe, Malawi.
The summit is expected to deliberate
on a wide range of regional issues including
infrastructure development and the general
socio-economic situation in southern
Africa.
Infrastructure development has been
identified as a priority area of development
in the region.
This is because a thriving economy
depends on the existence of an efficient,
seamless and cost-effective trans-
boundary infrastructure network.
As such, the region has come up with
a number of cross-border infrastructure
projects for implementation for the next
few years.
The projects cover the key sectors
of energy, transport, tourism, water,
information communication technology
and meteorology.
Since the summit is being held in the
“Year of Agriculture and Food Security,” as
declared by the African Union, discussion
would also focus on ways to improve
production in the region.
Southern Africa possesses all the
necessary inputs for a flourishing farming
region as the region is endowed with fertile
soils, a favourable climate and affluent
water basins.
However, inadequate funding,
poor rural infrastructure and neglected
agricultural research have seen the region
experience some challenges in fully
exploiting its potential to increase food and
agricultural production.
Other main issues for the summit
include the possible adoption of the
Regional Indicative Strategic Development
Plan (RISDP) – a 15-year blueprint for
regional development and integration, as
well as the general political situation in the
region.
All the 15 SADC Member States will
attend the annual summit.
Countries that make up SADC are
Angola, Botswana, the Democratic
Republic of Congo, Lesotho, Madagascar,
Malawi, Mauritius, Mozambique, Namibia,
Seychelles, South Africa, Swaziland, the
United Republic of Tanzania, Zambia and
Zimbabwe.
by Rs 50,000/- that is, from Rs 2
lakh to Rs 2.5 lakh in the case of
individual taxpayers, below the age
of 60 years.
Exemption limit elevated from
Rs 2.5 lakh to Rs 3 lakh in the case
ofseniorcitizens.Ontheotherhand
there is no change in the rate of
surcharge either for the corporates
or the individuals, HUFs, firms etc.
Raising tax exemption under
80C: Investment limit under
Section 80C of the Income-Tax Act
has also been raised from Rs 1 lakh
to Rs 1.5 lakh which will embolden
savings to some extent.
Public Provident Fund (PPF): In
added relief to the depositors, the
Finance Minister has raised Public
Provident Fund (PPF) deposit limit
from Rs 1 lakh to Rs 1.5 lakh per
annum.
Hiking the cap on interest
on home loan: The realty sector,
which has been under compression
for quite some time, has now been
given a rest by the Finance Minister.
To incentivize investments into
the sector, the deduction limit
on account of interest on loan in
respect of self-occupied house
property has been elevated from
Rs 1.5 lakh to Rs 2 lakh.
Small entrepreneurs
To boost small entrepreneurs,
anInvestmentallowanceattherate
of 15 percent to a manufacturing
company that invests more than Rs
25 crore in any year in new plant
and machinery has been declared.
The profit will be accessible for
three years i.e. for investments
upto 31.03.2017.
Investment allowance to
manufacturing company investing
more than Rs.100 crore announced
last year will continue till
31.03.2015.
Women and senior citizens
Finance Minister's budget
announcement had nothing
precisely for women. Previously,
women earning upto Rs 2 lakhs
were exempted from paying tax.
There was extensive expectation
that the limit would be hiked by
a minimum of Rs 50,000 over
and above the general category
exemption limit.
As of now, senior citizens
earning upto Rs 2,50,000 did
not come under the tax bracket.
Income tax exemption limit for
senior citizen has now been raised
to Rs. 3 lakh.
Housewives
For long, housewives have
been economizing on their kitchen
outlays, owing to excessive prices
of needed items, but the NDA
government's announcement on
packaged/processed food products
and edible oil will certainly give
some breather to them.
Projects must meet the following
criteria:
•	Be eligible for financing under
the African Development
Bank only (projects eligible for
financing under the African
Development Fund and
Nigerian Trust Fund will be
excluded);
•	Have financing by the Bank
that can be qualified in full as
promotingeitherlow-carbonor
climate-resilient development
(projects whose financing by
the Bank can be qualified only
partially as promoting either
low-carbon or climate resilient
development will be excluded);
•	Lead to significant accumulated
greenhouse gas emissions
reductions over the lifetime of
the asset.
13 projects in seven countries
were eligible for financing under
the Green Bond program.
Recent developments
The Xina Solar One Project
(US$ 100 million) in South Africa
was deemed eligible under the
Green Bond framework.
In June 2014, the AfDB agreed
to adhere to the Green Bond
Principles, a set of voluntary
guidelines that recommend
transparency and disclosure. The
principals also promote integrity in
the development of the green bond
market by clarifying the approach
for issuing bonds. A group of global
financial institutions launched the
Green Bond Principles, and issuers,
investors and environmental
groups provided guidance for
developing them.
AfDB
Arun jaitley, Finance Minister of India

MONDAY | JUly 14, 2014
Wassupafrica 03
T
he 10th edition of the map
boasts of a cover with the
slogan “Two steps from
Heaven,” which illustrates the
concept of Seychelles being
“Paradise on Earth” and which will
definitely lure potential visitors to
quickly make their way towards
these tropical islands.
This map once again provides
accurate and recent details of all
the most important places on Mahe,
Praslin, and La Digue and all their
satellite islands.
It has the usual Help Card
with all the emergency numbers
in Seychelles, and also where
Rwanda looks to Singapore for
business partnerships
To book your
Advertisement
please email to
ads@indoafricatimes.com
or call at
+91 8130796166
+91 9310572255
economicreformplanthatincluded
an audit of the government payroll
and the removal of almost 60 state
agencies seen as too costly. The
economy will possibly enlarge
4.9 percent this year, from 3.5
percent in 2013, the International
Monetary Fund.
Senegalese President Macky
Sall dismissed Prime Minister
Aminata Toure after 10 months
in office subsequent to municipal
elections recently in the country.
Toure, appointed in September as
the West African nation’s second
female Prime Minister, was
removed from the position with
immediate effect, the president’s
office said in an e-mailed
statement.
It didn’t give ground for the
conclusion.
Seychelles in Your Pocket
to accelerate the reform process
and endeavor to generate more
jobs ahead of elections set for 2017.
Dionne and his team will thus
have to work so that the spirit
that the Head of State carries for
its youth concerning job creation
can be applied by the national and
international private sector.
“Get at work so that the Act III
of the decentralization to become
one of the major reforms in order
to allow Senegal to become a new
territorial governance, a well-
balanced territorial development.
Get at work so that peace reigns
in this country, safety and rule
of law”, pointed the new Prime
Minister.
Let us remind that Mahammed
Boun Abdallah Dionne exhibited
his talent in the IBM Company
before becoming an executive of
the Central Bank of West African
States (BCEAO). He was also
worked in the diplomatic world as
an Economic Office Manager of the
Senegal Embassy in Paris.
Sall has promised to lift growth
and create jobs by forcing an
FROM PAGE 01
the visitor can insert all his/her
personal details, including his/
her blood group, allergies, and any
other medical conditions.
150,000 copies of the map
have been produced, and these
are distributed free of charge both
locally and abroad. The tourist
guide book, which is its 22nd
edition, also has an extraordinary
cover, with a similar concept of
escaping to a remote, peaceful
island away from the turmoil of the
outside troubled world.
The cover illustrates a potential
visitor, who is dreaming of a
tropical island in the sun, where he
can completely forget all his daily
woes. These paradise islands are,
of course, no other than Seychelles.
It provides all the most recent
and updated information, lavishly
illustrated, including detailed maps
for visitors, tourists, and even for
residents, on all aspects of the
Seychelles' history, art and culture,
tourism industry, economy, and
investment possibilities, among
others.
The small book, which can
be easily carried in one's pocket,
is ideal for anyone wanting any
information at all, including
accurate contacts and locations,
and on anything they want to
do, any-where in Seychelles,
from taking a taxi, to booking an
excursion, from going out to eat
in a restaurant, to finding a petrol
station to refuel one's car.
The book is available in two
versions, Italian/English and
French/GermanattheAntikColony
shop at the Pirates Arms arcade
and also at local book shops, hotel
boutiques, and duty-free shops.
The map and guide book are
indispensable tools for all visitors
to the Seychelles to have in their
pockets, so that they are very
well-informed at all times, thus
optimizing their most precious
holiday time!
Eturbo News
Rwanda will be looking forward to
promote its exports during the Africa-
Singapore business forum next
month.
Rwanda will take advantage of
the forthcoming Africa Singapore
Business Forum to foster trade
partnerships with Singapore
investors.The country has been
invited to take part in a one-day
meeting due to take place on August
27 in Singapore, Geoffrey Kamanzi,
the Private Sector Federation (PSF)
head of trade negotiations and
facilitation, has said.
Kamanzi said the meeting aims
at sharpening dialogue skills and
will deliver first hand insights from
practitioners in Africa and Asia. It is
being organised by the International
Enterprise Singapore.The forum will
also recognise the intense global
competition for Africa and Rwanda in
particular and the growing influence
of private sector, Kamanzi added.
Sources at the Private Sector
Federation indicated that both
countries are expected to sign trade
deals to facilitate bilateral trade.
Investors from Rwanda will also
use the platform to network and
share best business practices with
their counterparts from the Singapore
Business Federation.
“We are mobilising our members,
especially from agri –business
industry, food processing, transport
and logistics, oil and gas, mining,
retail business and manufacturing
to take part in the business forum
and share their experience with
international firms,” Kamanzi told
Business Times.
Investors from Singapore,
including Vector Scorecard, a
renowned small-and-medium
software and applications developer,
have already expressed interest in
investing in the country, the Rwanda
High Commission in Singapore, said
in a statement.“They have made a
detailed presentation to me on how
they think they can support in SME
development in Rwanda. They wanted
either private sector or Rwanda
Development Board to front their
initiative in Rwanda. We, therefore,
look forward to the Rwandan
team that will be in Singapore to
discuss this initiative further,” said
Lukas Murenzi, the in charge of the
commercial section at the Rwandan
High Commission in Singapore.
Co-operation between Rwanda
and Singapore has focused more on
public sector capacity building for the
last few years.
The business forum could be
a gateway for the private sector to
strengthen the commercial aspect
of bilateral relationships that exist
between the two countries.
The Rwandan high commission
in Singapore has organised three
days of business to business
meetings besides the conference for
Rwanda delegation and investors
from Singapore which could result
into business joint ventures between
the two sides.
New Times
President of Senegal, Macky sall with Prime Minister of Senegal, Mahammed
Boun Abdallah Dionne

mONDAY | JUly 14, 2014
M
ozambique is a country
in Southeast Africa
encircled by the Indian
Ocean to the east, Tanzania to the
north, Malawi and Zambia to the
northwest, Zimbabwe to the west,
and Swaziland and South Africa to
the southwest. It is detached from
Madagascar by the Mozambique
Channel to the east.
Mozambique is gifted with
rich and extensive natural
resources. The country's
economy is based largely on
agriculture, but industry, mainly
food and beverages, chemical
manufacturing, aluminum and
petroleum production, is growing.
The country's tourism sector
is also growing. South Africa
is Mozambique's main trading
partner and source of foreign
direct investment. Mozambique
is a member of the African Union,
Commonwealth of Nations,
the Community of Portuguese
Language Countries, the Latin
Union, Organization of Islamic
Cooperation and Southern African
Development Community and an
observer at La Francophonie.
Flourishing Economy
Mozambique's economy
continued to be one of the
most vibrant on the continent
in 2013, with a 7% rate of real
gross domestic product (GDP)
growth. The key drivers of growth
are foreign direct investment
(FDI), dedicated mostly on the
extractive sector, and growing
public expenditure. The fastest
growing sectors in 2013 were
the extractive sector, driven by
a boost in coal exports, and the
financial sector powered by credit
CountryoftheWeek04
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expansion and amplified income,
mostly positioned on urban areas.
Other dynamic sectors are
construction, services, and
transport and communication,
generally connected with
infrastructure development and
very large-scale projects, known
in Mozambique as mega-projects.
The agriculture sector, employing
70% of the population, lacks
the same economic dynamism,
although it is growing at above
4%. Assuming a stable political
environment, forecasts are
positive for 2014 and 2015, with
growth forecast to remain above
8%, supported by increased coal
production, continued public
investment and the forecast start
of the introductory work for the
multi-billion dollar liquefied
natural gas (LNG) plant.
The country economic latent
for enticing investment in agro-
industry, agriculture, tourism,
fishing and mining is massive.
Projects such as Mozal, the Cahora
Bassa Dam, Railway and Port
Corridors and Tourism Facilities
throughout the country have been
adding meaningfully in placing
Mozambique in the course of
major regional and international
investments.
Mozambique
AT A GLANCE
Country Official Name: Republic
of Mozambique
Head of State: President of the
Republic, H.E. Mr. Armando
Emílio Guebuza
Capital: Maputo
Date of Independence: June
25, 1975
Religions: Christian, Islam and
others
Government: Unitary Presidential
Constitutional Republic
Total Area: 799.380 sq km
GDP: USD 15.355 Billion
Inflation Rate: 2.1%
Population: 23.4 Million
Language: Portuguese
Export Items: Aluminum, Prawns,
Cashews, Cotton, Sugar, Citrus,
Timber, Bulk Electricity
Import items: Machinery and
Equipment, Vehicles, Fuel,
Chemicals, Metal Products, Food
Stuffs, Textiles
Climate: Tropical to sub-tropical
climate, with annual average
temperature of 25ºC, and ample
rainfall 6cm – 16cm, fertile soils.
Main Economic Sectors:
Agriculture  Agro Industry,
Transport  Communication,
Mineral Resources  Energy,
Infrastructure  Construction,
Tourism  Hospitality.
Time Zone: CAT or (UTC+2)
Currency: Mozambican Metical
(MZN)
Exports:$3.469 billion
Imports:$6.167 billion
Agriculture/ Agro
processing Sector
Agriculture is one of the crucial
sectors of Mozambique’s economy.
Itslatentishighmostlyinthefertile
northern regions. The significant
cash crops in Mozambique
include sugar, tobacco copra,
cashew nuts, tea and cotton. The
government heartens farmers to
produce industrially convertible
crops, such as jatropha and cane
to be used in biodiesel. Several
companies are by this time
implementing such projects. The
production of cereals and seeds
are currently a top priority in the
country. Food processing and
nutrition constitute a vigorous
challenge for the agricultural
sector in Mozambique.
Fisheries Sector
Mozambique is a country with
countless fishing potentialities,
derived from its coastal location,
with a length of 2.750 kilometers
and 200 miles off the coast of
Exclusive Economic Zone (EEZ)
constituting 586,000 km of surface
of ocean water masses, having a
diversity of fishery resources. A
great area of opportunity is the
formation of processing industry.
Additionally, there are few
aquaculture firms, which have
the potential of generating great
revenues.
Industrial fishing and semi-
industrial are the sub-sectors
involved in commercial fishing
activities, whose production is
mostly for the export market.
Though, it is vital to note that the
development strategy for the sub-
sector of Artisanal Fisheries and
Aquaculture targets to increase
production in these subsectors
and create devices to add value
to these products so that they
access the international market
as well as expand supply to the
internal market, contributing to
food security and nutrition of
populations and improved living
conditions.
Industry/ Manufacture
Sector
The Major industrial units
are located in the main corridors
of Mozambique: Maputo, Beira
and Nacala. In the last 10 years,
a total of 130 new small and
medium-sized units opened in
the whole country, providing
125,000 jobs, mostly in the sectors
of agro-industry, engineering
and furniture. The textile and
clothing sectors are a primacy
in government’s strategy in the
creation of work opportunities.
The government is inspiring
the companies to use the
cotton produced locally to
manufacture fabric. Under the
same strategy, industries that
settle in Mozambique obtain a full
exemption from paying company
taxation (IRPC) for 10 years and
50% in the subsequent 5 years.
Mining Sector
The mining sector of
Mozambique holds great latent.
Thecountryisaforemostelectricity
producer and an exporter of coal.
Numerous foreign companies
which hold exploration licenses
for oil and gas and minerals, such
as titanium, uranium and gold, are
searching in the mineral-rich Tete
and Sofala provinces.
Mozambique attracts part of
the FDI inflows into Africa for the
following reasons:
1. Political stability and the
confidence of foreign investors
in the country’s governance
system.
2.	The existence not only
of a national market but
also of a regional (SADC)
and international market
(Mozambique is a member of the
WTO and of other multilateral
organizations and countries
with which it trades)
3.	The accessibility of resources,
both natural and human,
in addition to the relative
abundance of the factor “land”.
4.	The evidently defined
macroeconomic policies that
have backed to the auspicious
economic growth of recent
years.
Mozambique
The Most Dynamic
Country in Africa
MONDAY | JUly 14, 2014
V
odafoneGhanahasappointed
Agnes Emefa Essah as its
new Chief Marketing Officer
effective 2nd July, 2014. She
replaces Uche Ofodile.
In her new role, Agnes will
be responsible for the delivery of
innovative products and exciting
campaigns that will enhance
Vodafone's brand value and
increase its market share.
Before joining Vodafone,
Agnes was the Marketing and
Innovation Director at Guinness
Ghana Breweries Limited, a
subsidiary of Diageo Plc, where
she was responsible for business
strategy, innovation and brand
building.
Under her leadership,
Guinness Ghana introduced a
number of exciting campaigns and
pioneering products. Agnes also
held various leadership positions
in Ghana, the United Kingdom
and Namibia while serving with
Diageo and was a member of the
Board of Directors of Guinness
Ghana Breweries Ltd.
Commenting on her
appointment, the Chief Executive
Officer (CEO) of Vodafone Ghana,
Haris Broumidis said: 'Agnes
BusinessBuzz 05
Vodafone Gets New CMO Entrepreneurs tipped on
business laws
T
he ease of doing business
in Rwanda could further
improve thanks to
the ongoing business laws
awareness campaign by Rwanda
Development Board.
The on going campaign seeks
to boost and create awareness
on some of the country’s most
important business laws such
as the company act, intellectual
property, mortgage law,
insolvency law, trademarks and
the law governing intellectual
property.
The move is expected to
further improve the ease of doing
business in the country, enhance
efficiency on how businesses are
managed and spur growth of the
small and medium enterprises,
Dr. Eliable Muhawenimana, the
Investment Climate facility for
Africa project coordinator at
Rwanda Development Board said.
The country wide exercise
due to end this month has
already benefited business chief
executives and entrepreneurs
across the country and is expected
to continue in the districts of
Huye, Kigali, Gisagara, Nyarugugu
and Nyamagabe and many others
across the country by the end of
the month.
“The idea is to drive total
compliance, giving entrepreneurs
skills that will keep their
businesses afloat which enhance
effective business management
systems. We are telling those
innovative entrepreneurs to know
that it’s important to register their
intellectualproperty,”TonyOmara,
the Managing Director, Brand
Revolution, a communication
and consultancy firm tusked to
conduct this campaign across the
country told The New Times.
The World Bank doing
business report 2014 ranked the
country’s business environment
second best in Africa and 32nd
globally.
The report was based on
the ease of doing business and
the number of business reforms
conducted in the country over the
period of twelve months.
A welcome move
Ruth Umurerwa, a retail
business operator in Rubavu
district said that equipping
business operators with basic
knowledge on laws that govern
their day to day life experience will
contribute to general economic
transformation across the country.
“Its very important, because
this is our daily life, therefore
understanding how we can
take advantage of the laws is an
economic gain for every one along
the value chain.”
New Times
brings an impressive depth of
marketing experience and we are
pleased to have her join us. Her
invaluable skills will be beneficial
to Vodafone as we continue to lead
innovation in the industry and
provide Ghanaians with the best
telecommunications products and
service.'
Over the last two decades,
Agnes has managed top brands
including Guinness, Malta
Guinness, Alvaro, and Premium
Spirits including Johnnie Walker,
Baileys, Ciroc, as well as Smirnoff
Ice, Heineken, and Mobitel, now
Tigo. She has a management style
that produced an outstanding
achievement in the field of
marketing and innovation.
Agnes was awarded
'Marketing Practitioner of the year
2012' by the Chartered Institute
of Marketing Ghana (CIMG) for
her marketing excellence and
leadership.
The new Vodafone CMO
holds a Masters in Business
AdministrationfromtheUniversity
of Ghana Business School and a
Bachelor of Arts degree from the
University of Ghana.
AfDB
After having visited the Praslin
business community and heard their
many concerns, the Chairman of the
Seychelles Chamber of Commerce said
he was pleased to hear this week of the
launching of the Praslin Culinary and Arts
Fiesta to be organised by the Ministry of
Tourism and Culture. The fiesta which
is due to take place from the 5th to
the 7th of September 2014 has been
well received by the chamber and its
members especially those operating on
Praslin.
“This event comes at a fitting time,
when the Praslin business community
are appealing to the Government to
listen to their many concerns they have
expressed which are affecting their
business operations, of which one of it
were the fact that they are not benefitting
from the tourism as much as the business
from Mahe given their many challenges.”
Says Mr. Marco Francis, Chairman of the
Seychelles Chamber of commerce and
industry.
Mr. Francis explained that the SCCI
members from Praslin, especially
those in the hospitality business are
commending the ministry of Tourism and
Culture for such initiative and expressed
their support in making the first one a
success.
It is the first time that Seychelles
will be using its coco-de-mer nut in an
innovative way to entice visitors on the
island. This event will put the island of
Praslin in the forefront. For this reason
the private sector from Praslin has
pledged their support towards the event
as they believed it will help to bring the
much needed visibility for the island and
hopefully help raise the profile of Praslin
to what it used to be once upon a time.
SCCI
SCCI commends
the organisers of the
new Praslin Culinary
and Art fiesta for Their
Initiative
mONDAY | JUly 14, 2014
T
he Board of Governors of the African
Development Bank Group (AfDB) through its
private window has approved a US $9 million
line of credit (LOC) equivalent in Mozambique metica
(MZN) to Moza Banco.
Moza Banco S.A. is one of Mozambique’s fastest-
growing financial institutions with strong focus on
SMEs. Moza Banco is actively present in almost all of
Mozambique’s 11 provinces with business including
(i) corporate, (ii) SMEs and (iii) retail.
The LOC will upkeep SME sub-projects and these
are well- branched out spanning all economic sectors
counting manufacturing, commerce/trade, services,
tourism, construction, agriculture and transport, etc.
Small and Medium sized Enterprises (SMEs)
are indispensable to budding African employment
and GDP. No doubt, SMEs are the best candidates to
attain inclusive growth in Africa as they contribute
notably to income generation and job creation. Small
scale industry typically makes a large contribution to
manufacturing employment in developing countries
and the approaches of developing small scale
industries include building skills and promoting
technological development for fast and improved
operation, which India is ready to share with the
African continent.
Furthermore, concentration in SME’s also
seems to have been further revitalized in the face
of globalization, which is progressively becoming a
commanding force in world trade because of their
suppleness and quick flexibility to change. As Africa
moves towards more rapid industrialization, there is a
growing recognition that SME offer significant avenues
for supporting industrialization and generating
employment.
Development of SMEs in Africa would widely held
rewards in income growth, entrepreneurial training,
creation of technological capabilities, greater flexibility
for changing market circumstances and job creation.
At present, Africa presents a unique business
environment offering both challenges and
opportunities. Indian companies with its deep industry
knowledge and expertise can equip the targeted
people with the skills and the insights that will enable
them operate their business more strategically and
profitably in Africa. It will further furnish them with
the traits of successful entrepreneurs. Africa can then
prosper with knowledge, skills, insight and ideas.
In high-income countries, SMEs signify a high share
of economic activity, a large share of employment,
and carry informal business activity into the formal
economy. Hitherto, a severe lack of financing is limiting
the ability of African SMEs to cultivate and attain pace.
Present estimations put the SME finance gap at
$80bn across Africa. A big trouble to be sure, but it
is tough to visualise another economic development
‘problem’ that offers such a striking commercial return
to those who can deliver a solution.
The major populace in Africa which lives in the
rural areas is also being commissioned by banks 
financial institutions by making finance accessible to
those micro entrepreneurs in assisting them start their
FRANKLY SPEAKING06
Miles Sampa
Deputy Minister,
Zambian Commerce,
Trade and Industry
Laurent Serge
ETOUNDI
SME Minister,
Cameroon
By kirit sobti,
editor, iat
editor@indoafricatimes.com
Zambia is booming and mostly through
its SMEs, but in the recent past the
scenario of this was witnessed to be
deteriorating. But, Zambians have
recently got the new air of relief as
the small and medium enterprises
in Zambia are to profit from a new
source of financing. South Africa’s
micro financier, Business Partners
International (BPI) established in
2004 as a subsidiary of Business
Partners Limited launched a branch in
the African nation and have set aside
US$10 million for loans to small and
medium enterprises.
During the launch, BPI Africa’s
Managing Director, Nazeem Martin
asserted, “The organisation has put up
US$30 million under the BPI southern
Africa SME Fund to Malawi, Namibia
and Zambia.” He added, “We are
launching the Zambia office subsequent
to our Namibia office launch last
week and hopefully we will be able to
takeoff the Malawi office next month.
The US$30 million investment fund
for these countries is coming with a
parallel to US$1 million as technical
assistance facility.” Worth mentioning,
the technical investors comprise of
International Finance Corporation, the
African Development Bank, Stichting
DOEN and FMO of Netherlands,
Propacro of France and Business
Partners.
In the same vein, the Zambian
Commerce, Trade and Industry Deputy
Minister Miles Sampa also urged
that the SMEs in Zambia needs to
increase their performance in regard
to safeguard quality and benefit from
the funding. He also quoted that the
upcoming BPI Zambia, SMEs should
take benefit of the regional trust fund
and access these funds available with a
pay-back term of five to ten years. The
organization has been set up in Malawi,
Kenya, Rwanda, Namibia, and Zambia.
own business. Banks, Financial Institutions, Private
Equity Firms and NGOs across Africa are heartening
entrepreneurs to come up with pioneering business
ideas and discover opportunities in introducing a
business startup. With reference to various financing
initiatives, African Development Bank delivers
guarantees to SME’s projects.
While this may appear to be a frightening
challenge, the possibility of the problem may be
more controllable than it first appears. The key to
unravelling the funding gap is to comprehend its key
drivers and then implement targeted solutions for
this discrete, but attractive market.
Banks say that SMEs need to be much tighter in
their management and financial functions, and they
need to be more informed about the loan application
process. And SMEs in many areas do not seem to
fully hold the scope of the challenge.
According to SMEs, bank lending practices need
upgrading too, in areas like lower interest rates and
longer loan terms. They conceive that many bank
credit staff are not well-versed in how business
cycles impact cash flow, that collateral requirements
can be scary, and that banks do not take time
to appreciate the single challenges of individual
businesses.
Once we classify key grounds of the funding
gap, solutions seem within reach as long as both
sides come together in a deliberate effort to fix the
problem. A critical first step is to unlock commercial
debt from Africa’s own banks, by prioritizing SME
finance and launching targeted initiatives “down
market” that engage this sector. Though we may also
need new models of financial institutions specifically
focused on this segment—e.g., more resources for
underfunded microfinance banks so they can go
“up-market” to close the funding gap.
Insurers also need to get involved: educating
business owners, providing assistance in obtaining
insurance, and designing policies for this market that
shore up coverage gaps and help businesses qualify
for credit. Accounting and auditing firms should also
be throwing custom-made and reasonable service
offerings to this segment, to help SMEs meet banks’
necessities for formalized financial functions.
In the nutshell we can say that the role of SME’s
is without doubt the foundation for the growth and
expansion of Africa and should be undertaken in
partnership with African governments, international
donors, private sectors and the Diaspora itself.
They cannot work in isolation of each other and as
such all have a mutual role to play in the sustained
economic reform and transformation of Africa. This
sector is ideally suited to build on the strengths of
the traditional skills and knowledge, by infusion
of technologies, capital and innovative marketing
practices. Small and Medium Enterprises today
constitute a very important segment of the African
economy. It has emerged as a dynamic and vibrant
sector. With the help from India this sector of Africa
can achieve a wide measure of industrial growth and
diversification.
The role that SMEs play
in our economy cannot be
overlooked. They are a major
contributor to development
and I urge them to step up
their gear to start thinking
big so that they can become
recognised in Africa.
Today, the role of SMEs in
enhancing economic growth
is acknowledged worldwide. In
emerging countries, SMEs are
very competitive. Governments
therefore intensify efforts like the
creation of this bank to render
the SMEs more performance
and competitiveness but this
must be accompanied by
well-defined rules.
Is lack of financing
limiting the capability of
African SMEs to grow?
With reference
to various
financing
initiatives,
African
Development
Bank delivers
guarantees to
SME’s projects.
US$10million to
Finance Zambian
SMEs
MONDAY | JUly 14, 2014
TRAVELtourism 07
H
ere tourists will discover the African
Great Lake of Lake Malawi in the Great
Rift Valley system, projected to be
between 40,000 and two million years old. It
is the third largest and second deepest lake
in Africa and occupies a fifth of Malawi with
its vibrant tropical waters pouring with more
fish species than any other lake on Earth.
Adjoining the lake is Lake Malawi National
Park, the world’s first freshwater national
park and a World Heritage Site. Innumerable
thousands of freshwater fish, the mbuna, are
more lavish and diverse here than anywhere
else in the world. Boats can be rented and the
fish feed right from one’s hand.
Away from the lake, there are baboons,
antelope, and hyrax, as well as almighty
birdlife, and the lake this extends boundless
opportunities for sporting activities like
kayaking, snorkeling, and scuba-diving. The
lake encompasses a number of small islands,
all located in “Areas of Outstanding Natural
Beauty,” and even though well-preserved in
their natural state, some of them have been
settled for eco-tourism.
Malawi’s largest park, Nyika National Park,
has got to be one of the most outstanding
destinations in Africa. It is a heaven of flowers,
counting ground orchids, proteas, irises, and
is home to vast herds of eland, the largest of
the antelope. Horseback safaris are untaken
here, and there is no ecstasy like that of riding
MalawiA Place of Spectacular Natural Exquisiteness
»	Malawi is known as “The Warm
Heart of Africa”.
»	Lake Malawi is the ninth largest
lake in the world.
»	 Malawi is a Twitcher’s paradise.
»	Malawi is about half the size of
the United Kingdom and one fifth
is covered by Lake Malawi.
»	‘Matolas’ (single-cab pick-up
trucks) are the main modes of
public transport in Malawi.
through a ruck of zebra or roan antelope.
The eastern edge of the plateau takes
form of the wall of the Great Rift Valley where
visitors could hire a mountain bike or hike
all the way down to Livingstonia, which is
the best way to apprise Nyika’s scale without
overlooking its delicate detail. Positioned
within a cluster of timbered hills high up
against the plateau of central Malawi is the
richest concentration of Chongoni rock art in
Central Africa. This tradition of farmer rock
art, as well as paintings by BaTwa hunter-
gatherers who occupied the area from the
late Stone Age can be found in where Chewa
agriculturalists’ ancestors lived here from the
late Iron Age and practiced rock painting well
into the 20th century.
Resting east of Blantyre are the
unembellished rock flanks of the mountain
tower known as Mount Mulanje. There is a
great deal of wildlife, from the klipspringer a
tiny antelope to various other small mammals
and, of course, a large variety of birds.
Visitors can drive around the entire foot of
the mountain in a day or experience it more
closely by climbing and camping on the slopes,
taking moderately gentle walks or attempting
some more demanding climbs. Camping
equipment and the services of a guide can also
be hired.
Lake Malawi
Nyika National Park
RiftValley
mONDAY | JUly 14, 2014
TALKINGTECHNOLOGY08
By Shalish Kumar
O
ften when potential
importers are duly
satisfied with the product,
quality, sample sent for approval
or lab analysis, packing, delivery
schedule and prices acceptable.
They request for a firm offer from
the exporters.
What do most exporters
provide their prospective buyers?
Offer quotation indicating
price, quantity and cost of
transportation? Other terms
like, Mode of payment, product
availability, shipping instructions
and service charges? Terms of sale,
description and delivery time?
Yes, but this is not enough
information for importers to make
a buying decision. To make life
easier for buyers, exporters should
always quote using a carefully
prepared Performa invoice.
It is a common for most
exporters to provide their buyers
with limited information when
asked for a quotation. This lack of
details and accurate information
by exporters is probably a major
factor why products with good
quality and competitive prices do
not get sold.
Whether you are the exporter
or the importer, it is quite
critical that you understand how
successful exporters quote buyers
usingproformainvoice.Youshould
be able to clearly distinguish the
differences between quotation,
Performa invoice and commercial
invoice. The following brief
descriptions are intended to help
you understand their differences
and to provide you with all the
items that you should include in
a Performa invoice plus the areas
that you have to consider when
completing a commercial invoice.
Quotations
A worksheet for calculating
export costs to sell goods or
services at a stated price and under
specific conditions, the quotation
is generally presented to the buyer
in a formal way using a Performa
invoice. A quotation may include
all the contents that appear in a
typical pro forma invoice except:-
(1)Country of origin of product
and
(2)the title Performa invoice.
Performa Invoice
A price quotation prepared
in the form of an invoice, a
Performa invoice, is different from
commercial invoices. It is used to
create a sale and is sent in advance
of the commercial invoice. The
content of a Performa invoice is
almost identical to a commercial
invoice and is usually considered
a binding agreement although the
price might change in advance of
the final sale.
For establishment of LC or for
advance payment by the importer
through his bank, usually banks
prefer Performa invoice to a
quotation.
In some countries, the US for
example, Customs may accept a
Performainvoice(generatedbythe
US importer and not the exporter)
if the required commercial invoice
is not available at the time when
filing entry documents (entry - the
process of filing documents with
US Customs at the port of entry to
get goods released from Customs).
U.S. Customs may use a pro forma
invoice to assess duty and examine
goods. The importer on record
however, is required to post a
bond and produce a commercial
invoice within 120 days from
the date of entry. If the required
commercial invoice is needed for
statistical purposes the importer
has to produce the commercial
invoice within 50 days from the
date Customs releases the goods
to the importer. Here are some
reasons why pro forma invoices
are widely used in international
transactions:
Considered as a binding
agreement between exporter
and importer. May be required
by somecountries as part of their
import licensing procedures.
Bankers and financial institutions
use proforma invoices to open
lettersofcredit,advancepayments,
etc., for importers.
Easily recognized due to
their similarity to commercial
invoices. Pro forma invoice format
encourages exporters to include
all the information that shall
appear in the commercial invoice.
Keep the following points in
mind when your company is asked
to produce a proforma invoice:
»	The title of the document
should clearly say Pro Forma
Invoice.
»	Exporter's name, address,
telephone number and e-mail
address.
»	Sold to name, address,
telephone number and e-mail
address.
»	Pro forma invoice reference
number.
»	Date issued. The date of the pro
forma invoice is the date of the
quotation.
»	Customers Inquiry reference
number or purchase order
number, if available.
»	Terms of payment (letter of
credit, documentary collection,
pre-payment, T/T, open
account etc.).
»	Exporters banking details for
advising /negotiating LC or
SWIFT code details for Wire
Transfer.
»	 Estimated date of shipment.
»	If more than one product,
numbereachproductbeginning
with number 1.
»	Type of Delivery  shipment :
Full in one lot or partial.
»	Indicate Transshipment if any,
»	 Quantity shipped per lot.
»	Full product description,
include the Harmonized
Schedule (HS) code if available.
»	Indicate clearly currency used
(USD, Euro, Yen etc.).
»	Unit pricing should be included.
»	Unit pricing should be extended
by the quantities quoted to
form the line item total.
»	Any additional supplies-
provided services should be
itemized and should be added
to reach a grand total.
»	Terms of sale using latest
INCOTERMS (FOB, CIF, CFR,
DDU etc.- named port or
destination).
»	Identify the number of unit
measure, weight, case, pallets,
box, etc.,
»	The country of origin of the
product.
»	Cost of any additional
documents, inspection,
legalization, etc., to be borne by
the importer or exporter.
»	Validity period, never make
open-ended commitments
remember that the validity date
can be changed.
»	Must be signed and title to be
included.
»	Column for Acceptance with
Signature, title of the buyer
to be incorporated in PI or
covering letter.
Remember that pro forma
invoices are formal offers to sell.
When the buyers agree with all
the terms and conditions of the
pro forma invoice the result is a
purchase order sent by the buyer,
which finally leads to a sales
contract that is, if the buyer and
the exporter agree to have a formal
sales contract. The pro forma and
purchase order must be compared
before goods are shipped to check
for discrepancies. Should there be
a discrepancy, the buyer should be
promptly notified to correct any
errors.
Commercial Invoice
Prepared after the sale takes
place,thecommercialinvoiceisthe
final bill from the exporter to the
buyer that conforms in all respects
to the agreement. It could have
the exact terms of the pro forma
invoice first offered, or it could
differ in those terms that were
the result of final negotiations.
Commercial invoices are also used
by governments to determine the
true value of goods for assessing
Customs duties, examining
goods and gathering statistics.
Additionally, many countries use
commercial invoices to control
imports. It is critical for the
exporter to check with the buyer
the type of information that must
be included in the commercial
invoice in order to clear Customs
in the buyer's country. Here are
few key areas to consider when
producing a commercial invoice.
Should be prepared in the
manner customary to trade.
Most countries require that a
commercial invoice must be filed
for each shipment. It must be
original although some countries
accept photo copies with a
declaration by foreign suppliers,
shippers or importers verifying
that it is a true copy. When an
invoice is not available some
countries accept a pro forma
invoice with information adequate
to assess duty, examine goods and
collect statistics. Some countries
may require a special Customs
Invoice - US for example, waived
Customs Invoices in March 1, 1982.
Common Invoicing
Mistakes by Exporters
The following are a few of the
many common invoicing mistakes
that are often made by exporters.
Any of the following mistakes may
cause delay, crippling penalties
or total seizure of products by
Customs officials.
»	Under invoicing, declaring less
than the actual value of goods.
»	 Vague descriptions.
»	Several distinct articles lumped
as one.
»	Supplier does not show the
discounted invoice at the net
price.
»	Omission of royalties,
commissions, packaging and
other dutiable additions that
make up market value.
»	Transportation and insurance
charges not itemized separately
(some countries do not assess
duty on transportation and
insurance charges).
»	Pertinent information missing
and lines left blank.
»	 Missing country of origin.
»	Invoices not signed by supplier
or supplier's agent.
»	Calculation mistakes in words
and figures.
Remember, at a minimum,
an invoice must always clearly
show the total invoice value, non
dutiable charges, add to make
market value (if dutiable), and net
entered value of the merchandise
imported.
By carefully preparing a pro
forma invoice, the exporter can
increase the chances of the offer
to sell to be accepted by the
buyer and eventually increase
the exporter's sales and profit.
Because the pro forma invoice
is the first document the buyer
receives from the exporter, there
is a psychological advantage in
laying everything out, since the
easiest thing for the buyer to do is
to accept the proposed offer. Help
your buyer to accept your offer by
providing a thoroughly prepared
pro forma invoice.
About the author:
CEO of World Trade
Connections.Heisaconsultantand
a trainer in the field of Exports and
Import since 1984. He has wide
experience in international trade
especially “Marketing of products”
Traveled extensively in major part
of the world and has successfully
offered assured business to
numerous manufacturers, Joint
Ventures, Technology Transfers
etc., He is invited and associated
with numerous Local Trade
Bodies, Chamber of Commerce,
Educational and training institutes
imparting training in the field of
Export  Import. His practical
approach and lucid style of
presentation endears him to the
participants instantly.
2nd Floor, B-166, Shrenikpark, Opp. Akota Stadium,
Productivity Road, Vadodara-390020[ Guj.] India.
Telefax: +91 265 2342145/9824067098/9925292092
Email: wtcindia@gmail.com
Website: www.worldtradeconnections.co.in
HAPPY
EXPORTING
MONDAY | JUly 14, 2014
TRYSOMETHINGNEW 09
Ingredients
	•	2 cups Gram flour (besan) sieved
	•	Yogurt beaten1 cup
	•	Salt to taste
	•	Turmeric powder 1/2 teaspoon
	•	Green chili-ginger paste
	•	1 teaspoon Oil
	•	2 tablespoons Lemon juice
	•	1 tablespoon Soda bicarbonate
	•	1 teaspoon Mustard seeds
	•	2 tablespoons coriander leaves chopped
•	 1/2 cup Coconut scraped
Prepration Method
1.	Take gram flour in a bowl. Add yogurt and
approximately one cup of warm water and mix.
Avoid lumps. Add salt and mix again.
International
Conference on Business
Management and
Information Technology
This is organized by the World
Academic Industry Research
Collaboration Organization. The
conference will cover areas like
Web Application And Web Service,
Computer Science And Engineering,
Information Technology And
Computer Education, Other Topics
Related To Ict And Its Applications.
Date: 17-18 Jul 2014
Venue: The Fern Citadel Hotel, Bangalore,
India
Green Power-Chennai
Green Power-Chennai is entering
its 9th edition of the session. This
is one of the biggest exhibition
cum conference for renewable
energy technologies sector in India
for 2 days the exposition is being
organized by Confederation of
Indian Industry.
Date: 17-18 Jul 2014
Venue: Chennai Trade  Convention Centre,
Chennai, India
India International
Jewellery Show
Over the years, this show is the
most visited jewelry show which
demonstrates the best and
exclusive range of jewelry items.
The organizers have announced
this international jewelry show
scheduled to be held at Bombay
Exhibition Center, Mumbai. The
exhibitors come face to face with
the rival companies as well as also
come to know about the intensity of
the competition in the market. The
show is categorized amongst the
leading antique show which will
surely satisfy the requirements of
the global customers.
Date: 17-21 Jul 2014
Venue: Bombay Convention  Exhibition
Centre, Mumbai, India
Hospitality Expo
Hospitality Expo is a 3 day event
being held from 4th August to the
6th August 2014 at the Gujarat
University Convention  Exhibition
Center in Ahmedabad, India. This
event showcases products like
commercial kitchen equipment,
cutlery and table products,
hospitality technology, furniture
and fit out solutions, commercial
refrigeration equipment, fb service
products, glass and glassware, bar,
wine accessories and equipment,
commercial coffee machines,
lighting and controls, furniture 
furnishing, bathroom fittings, hotel
POS machines, EPRS systems,
accounting systems, dry cleaning
machines and cleaning solutions
etc. in the Business Services, Food
 Beverage industries.
Date: 04-06 Aug 2014
Venue: Gujarat University Convention 
Exhibition, Ahmedabad, India
Catering Expo
This event showcases products
like cutlery and d table products,
fb service products, glass and
glassware, commercial coffee
machines, food and drink vending
solutions, fast food kitchen
equipment, food decoration
products, food display equipment,
food ingredients, ready to eat food,
packed food, flavors, milk and dairy
products, health food products,
sweets snacks and confectionery
products, fresh food products,
fruit and vegetable products, food
additives and ingredients, hollow
ware, glassware, chinaware,
crystalline ware porcelain, mini
bars and cutlery crockery etc. in
the Business Services, Food 
Beverage industries.
Date: 04-06 Aug 2014
Venue: Gujarat University Convention 
Exhibition, Ahmedabad, India
upcoming
Nothing is impossible; The word itself says I’m possible
THOUGHT OF
THE WEEK
Khaman Dhokhla
African Cuisine
Handy Hindi
2.	Leave it aside to ferment for three to four hours.
When gram flour mixture has fermented, add
turmeric powder and green chili-ginger paste.
Mix Heat the steamer. Grease a thali (plate)
3.	In a small bowl take lemon juice, soda
bicarbonate, one teaspoon of oil and mix. Add
it to the batter and whisk briskly. Pour batter
into the greased thali (plate) and place it in the
steamer.
4.	Cover with the lid and steam for ten minutes.
When a little cool, cut into squares and keep in
a serving bowl/plate.
5.	Heat remaining oil in a small pan. Add mustard
seeds. When the seeds begin to crackle,
remove and pour over the dhoklas.
6.	Serve, garnished with chopped coriander leaves
and scraped coconut.
Find The Path
1.	I missed you so much!
	 मुझे आपकी बहुत याद आयी।
2. Can you help me?
कया आप मेरी मदद कर सकते
हैं ?
3.	Where do you live?
आप कहाँ रहते हैं?
4.	How old are you?
आपकी उमर कया है?
picture of the week
The Union Minister for Finance, Corporate Affairs and Defence, Shri Arun Jaitley giving final touches to the General
Budget 2014-15, in New Delhi on July 09, 2014. The Minister of State for Commerce  Industry (Independent Charge),
Finance and Corporate Affairs, Smt. Nirmala Sitharaman and the Secretaries of the Ministry are also seen

WARM
LEMON WATER
BENEFITS OF
DRINKING
»	Lemon is an excellent and
rich source of vitamin C, an
essential nutrient that protects
the body against immune
system deficiencies.
»	It balances maintain the pH
levels in the body.
»	It is also a great source citric
acid, potassium, calcium,
phosphorus and magnesium.
»	It helps cure the common
cold.
»	It strengthens the liver by
providing energy
to the liver
enzymes
when they
are too dilute.
South Africa is larger than
Germany, France and Italy
combined. The country
has more wild species
than the whole of North
and, South America,
Europe and Asia together.
End
Start
1.	 What bone has a sense of humor?
2.	 Where do fish keep their money?
3.	The more of them you take, the more you leave behind.
What are they?
4.	 What's full of holes but still holds water?
5.	 What two things you can never eat for breakfast?
6.	 What gets whiter the dirtier it gets?
Brain Teasers
ANSWERS
1. 	HUMUROUS
2. 	RIVERBANK
3.	FOOTSTEPS
4. 	A SPONGE
5. 	LUNCH  DINNER
6. 	A BLACKBOARD  CHALKBOARD
mONDAY | JUly 14, 2014
THEFASHIONISTAS10
North Wings Band Grabs
New Music Ghana Prize
N
orth Wings Band last
week won the first prize
of the New Music Ghana
competition, which was held
at the Youth Home Centre in
the Northern regional capital,
Tamale.
The eight-piece band,
comprising youthful musicians,
swayed the judges with a
magnetic stagecraft, an effective
blending of traditional/western
musical instruments and
infectious lyrics that captured
the attention of the audience.
Clad colourful costumes, the
group entertained the audience
with a fine combination of
Bamaya, Gahu and Agbadza
with jazz and highlife, thereby
drawing huge cheers and
applause from the audience.
Trumpets, keyboards,
djembes from North Wings
created a cool atmosphere as
percussive instruments and
western drum sets pounded the
cold night air at the Youth Home
Centre.
Suhuyini, Yurlim, Young
Echoes and Bizung School Bands
In an interview, Ms. Njie said I
Am ready for Africa and my move
towards this is progressing steadily.
I haven't done any major productions
and I still have a lot to learn, and as
a university graduate I would say it
has prepared me both mentally and
physically to take on new challenges
ahead of me.
'Am an up-coming actress and
in view of this am willing to take
on different roles/personalities. I
want to gain as much experience
Sexy Gambian Actress Joanna
Njie to Visit Ghana ...
In Pursuit Of Her Acting Dreams
tookthesecond,third,fourthand
fifth positions respectively in the
keenly contested competition,
which has managed to serve as
a platform for young musicians
to promote themselves over
the past five years. All groups
received cash prizes totalling GH
¢3,000.00.
As part of the festival, B. A
Konlaan (Chairman, MUSIGA-
Northern Region), Dela Botri
(Flutist, Composer) and Abdul
Rahaman Mohammed (Dancer,
Choreographer) moderated a
numberofworkshopsonvarious
topics relating to marketing
and new ways of expressing
Ghanaian music.
New Music Ghana Festival
(NMGF) has succeeded in
bringing young and veteran
musicians together and has been
a catalyst for the re-emergence
of live band music.
Indeed, it has revitalised
a proud sense of cultural
identity among young Ghanaian
musicians.
NMGF also assists young
musicians to shape their
musical and social skills that are
necessary to ensure a smooth
transition into the professional
world. Undeniably, it has the
potential of becoming the
springboard that would launch
a new era of Ghana's popular
music on the global arena.
The festival, which was
organised by the Institute for
Music and Development, was
sponsored by the Goethe-
Institut in Accra in collaboration
with Arterial Network Ghana.
Modern Ghana
as possible in acting in Ghana
to make me more versatile as an
actress. Am determined to bring
fun, and hopefully inspire many
movie lovers in Africa and the
world at large' She added.
The actress said her hobbies
include, absolutely love for
shopping, dancing, singing and
socializing with friends. She also
loves travelling to new places
however she is scared of flying.
Modern Ghana
Braids are great for summer hair.
They're generally pretty easy to do,
they look good when they're messy
(see: a zillion celebrities), and they
keep you cool as a pony tail, but a
little more chicly.
Waterfall Braid
1) 	Prepare hair for braiding
2) 	Brush underneath the nape of the
neck to ensure no knots remain.
3) 	Part your hair in the middle.
4) 	Section off the top third of your
hair
5) 	Braid the hair toward the back of
your head in a French braid style
6) 	create that “waterfall” look.
7) 	Pick up a new strand of hair
located next to the strand you’ve
dropped to replace that strand.
8) 	Secure the braid with bobby pins
if needed.
9) 	Braid the remaining “tail” until you
run out of hair.
10)	Decorate.
Messy Side Braid Bun
1)	Make a side ponytail close to the
nape of the neck.
2)	Split the hair into three sections.
3)	Fishtail Braid each of the sections.
4)	Pull out the folded pieces (the bits
that you bring over when plaiting)
on each side to double the size of
the plait.
5)	Lastly, all you need to do is take
the 3 plaits and wrap them around
the bobble in an artistic sort of
way! Then fix them using kirby
grips, you might need quite a few
to adjust the shape to your liking.
Fishtail
1)	Divide your hair into a side parting
and take the whole length of your
hair over to one side.
2)	Begin by splitting the hair into two
sections.
3)	Take a small piece of hair from
the outside of one of the two main
sections and bring it to the inside of
the opposite section.
4)	Then take a small piece of hair from
the outside of the other section and
bring it to the inside of the opposite
section, then pull tight.
5)	Keep taking small pieces from each
side into the inside of each section
to develop the inverted braided
pattern.
6)	Keep going until you reach the end
and finish by tying the hair with a
clear elastic band.
7)	Fishtail braids look best with a
slept-in look so tease the braid by
pulling out some strands for a more
textured look.
Classic French
1)	Start by taking a section from
the top of the head. Separate this
section into 3 strands crossing
right over middle and then left over
middle.
2)	Switch all of the strands over to
your left hand and keep strands
separated.
3)	You can now gather a small even
section from the right side of the
head with your right hand and add it
to the right strand.
4)	Bring the strand you have just
added to, over to the middle and
bring the middle strand to the right.
5)	Now switch hands keeping all
strands separate, so your left hand
will be free.
6)	Gather a section of hair from the left
side of the head. Add this to the left
strand.
7)	You will now bring the left strand
over to the middle and bring the
middle section to the left. As you
follow these steps, try to keep your
hands close to the head so the braid
will be tight.
8)	Repeat steps 2 and 3 until there is no
hair available to add.
Little Braid + PonyTail
1)	Make a side part, then take a section
of hair from the front left side of your
part to your left temple.
2)	Split this into three and weave
together to make a braid. Braid the
right over the centre, then the left
over the right and continue to braid
that section.
3)	Stretch out the braid to make it look
thicker. Secure the end with a pin or
small elastic.
4)	Gather all your hair into a ponytail
and secure with an elastic. Take the
pin or elastic off the first braid, now
it is tied in with the ponytail.
5)	Take a small piece of hair and wrap it
around your hair elastic to cover it.
Braided updo
1)	Leaving a section loose on either
side of your face, and gather the rest
of your hair back into a ponytail. Pull
gently at the top of your ponytail so
it’s not too tight.
2)	Braid half of the hair on the left hand
side, and wrap it over your ponytail.
Repeat with the right hand side.
3.	Braid the lower section of hair on the
left hand side and wrap over your
ponytail. Pin in place with a bobby
pin underneath your ponytail. Repeat
on the right hand side. Important:
Stretch out your braids! Pull at the
sides to make your hair look thicker
and fuller.
4.	Loosely braid your ponytail and roll
it under to form a bun. Pin in place
with bobby pins.
Braided Updo Classi french Fish tail braid Messy side braid bun Waterfall braids
Gorgeous Braid Styles

Joanna Njie
MONDAY | JUly 14, 2014
SPORTS2WATCH 11
Team Ghana Gears Up… For
Glasgow Commonwealth Games
Ghana defender
John Pantsil signs
two-year deal with
PSL side Maritzburg
Women groups receive
annual savings
Obama's YALI
programme admits
18 Ghanaians
A
thletes who would be
representing Ghana at
the 20th Commonwealth
Games in Glasgow are peaking in
form ahead of the sports festival,
Joseph Yammin, former Deputy
Youth and Sports Minister, has
said.
The contingent, who would
be joined by the shooting team
later, is currently pitching
camp in Ayrshire, south-west of
Scotland, and would be there for
three weeks.
Hon Yammin, now deputy
Ashanti Regional Minister, is the
chairman of the Commonwealth
Committee, and he revealed in
The Alangtaaba Women's Group
in Aware done in Winkongo in
the Upper East Region made up
of 27 women received GH¢ 12,
750 from their annual savings
under the Savings and Internal
Lending Community (SILC).
The group was among twenty
seven women groups and one
male group constituting over
900 people to share out their
savings they accumulated in
one year to undertake income
generating activities and care for
their health needs.
The savings and internal
Lending Community (SILC)
was instituted in 2010 by
Catholic Relief Services (CRS),
the Community Maternal and
Child Care Services (CIMACS)
in collaboration with the Ghana
Health Service to promote and
improve maternal and child
births.
The annual durbar was
witnessed with pomp and
pageantry as the women
anticipated their share of savings
as savings boxes were opened.
Mrs. Evelyn Naaso, District
Director of Health Services of
the Ghana Health Services (GHS)
before the share-out reiterated
the important domestic roles
of women in providing good
nutrition for their homes
She recounted the roles of
SILC and CIMACS in improving
health of women and children
in the community and
congratulated them, the staff and
the chiefs for the support.
Mr. Robert Asambobillah,
Coordinator, CRS In an
interview with the Ghana News
Agency said the Savings and
internal Lending Community
Ghana defender John Paintsil has
signed a two-year contract with
South African club Maritzburg
United, GHANAaoccernet.com
can exclusively reveal.
The former Fulham man joins
the PSL club as a free agent
having completed his one-year
contract with lower tier club
Santos FC.
Paintsil concluded
negotiations and signed a two-
year contract to become the first
off-season signing of the Team of
Choice.
The experienced right-back
wants to prove himself once more
again at top flight level following
his brief stint in the South African
second tier with Santos.
He will be joining compatriot
Awal Mohammed at Maritzburg
United who finished 10th in the
South African League last season.
Paintsil is yet to be unveiled
and handed a squad number at
his new club.
Modern Ghana
The fellowship programme will
provide outstanding young leaders
with opportunity to hone their skills
at a US university, and support
their professional development
after they return home.
Assistant Secretary for African
Affairs, Linda Thomas-Greenfield
at LiveAtState Virtual news
Conference said the future of
Africa is in the hands of the youth.
'If you look at the statistics,
65 per cent of the population is
35 and under. That is a huge,
huge youth bulge, and it is that
population that will be the future of
Africa,' she said.
She said the Obama's
administration has made it a major
priority to help African countries
prepare for the future, 'to mentor
young people, to support them, to
train them to lead in the future'.
About 500 young people
are from Africa out of 50,000
applications received for the slots.
In all, there were about 80,000
who attempted while 30,000
did not get their applications
completed. The Ghanaians joining
their counterparts would receive
mentorship in entrepreneurship,
civil society and public service
and participate in the US - Africa
Leaders' Summit scheduled
for August 4 to August 6 where
President Obama will host 51
heads of state and government
from Africa for the first ever in
Washington.
Madam Thomas-Greenfield
said the first day of the conference,
will witness series of signature
events focusing on partnership
with Africa in the past. The second
day, she said, would be the actual
Chief Executive Officer Leaders
forum which will bring together
about 200 companies.The last
and actual day of the Summit will
centre on three different themes.
New Times
an interview that the team is
peaking by the day, expressing
the hope that they would do
Ghana proud in the impending
Games.
He mentioned that a
contingent of 106 would be
representing the nation in the
11-day sports fiesta, and battle
for honours in 10 disciplines
namely athletics, badminton,
boxing, fencing, judo, shooting,
swimming, table tennis,
weightlifting and disabled sport.
Team Ghana, until their
departure for the Games, pitched
camp at the Theodosia Okoh
Hockey Stadium Hostel for close

John Pantsil
to two weeks.
Hon Yammin, in a farewell
message at the camp in Accra,
charged the team to strive for
excellence. 'You are going as
ambassadors of Ghana and
therefore government and the
people of Ghana expect that you
make yourselves and the country
proud.
'Nothing should make you feel
inferior; you are just like your
competitors. Remain focused, be
determined and always have it at
the back of your mind that you
are representing Ghana. Go and
succeed,' he added.
Seventy-one nations would
battle for supremacy in 17 sports
disciplines, and 261 medal events
at 13 venues.
Clyde, the mascot for the
Games, is a thistle named after
the river which flows through the
centre of Glasgow.
Celtic Park will host the
opening ceremony, while
Hampden Park takes care of the
closing in the Games scheduled
for July 23 to August 3.
The city of Delhi, India, hosted
the last edition four years ago.
Modern Ghana
(SILC) was Instituted by CRS to
improve Community savings
and maternal and New Born Care
services (CIMACS) and livelihood.
He said the two programmes
were run in partnership with
the Ghana Health Service to
improve maternal and child care,
promote antenatal attendance,
good nutrition among pregnant
and lactating mothers and serve
as a support for the women in
the community to have financial
support for their needs.
Mr. Asambobillah said though
CRS phased out in 2012 from
CIMACS in 2012, SILC was still
promoted in the community and
added that migration from the
community reduced through the
implementation of SILC because
beneficiaries had financial
support services through their
own lending schemes to address
pertinent family problems.
He noted that his outfit
under new funding scheme
would under the Integrated
Sanitation, Hygiene, nutrition
Education (ISHINE) programme
expand its intervention to the
SILC communities and other
areas including Talensi, Nabdam,
Kassena Nankana Districts
and in the Northern Region in
Nakpanduri, Gambaga among
others.
Madam Constance Aduko,
52, a trader with the Alangtaaba
women group who took home
over GH¢ 3,000 was grateful for
the programme.
The annual durbar was
witnessed with pomp and
pageantry as the women
anticipated their share of savings
as savings boxes were opened.
India Africa Connect
mONDAY | JUly 14, 2014
ENCOUNTER WITH EDITOR12
What are the strategies being
addressed by government to
achieve goals of Vision 2016? What
developments have been witnessed till
date in the same?
The Vision 2016 Council, a high
level institutional mechanism was
established to monitor, evaluate and
report progress on implementation of the
Vision. The Council which is non-partisan
is answerable to the nation. Its mandate
includes amongst others;
»	To generate sustained ownership of
the Vision by all stakeholders, and a
consensus on national directions and
strategies;
»	To harmonise and promote
co-operation between various sectoral
objectives, and bring them within the
larger national interest;
»	To monitor the implementation of
National Development Plans as vehicles
of the Vision.
»	In order for the aspirations of Vision
2016 to be realized, the government of
Botswana made a deliberate move to
fully anchor Vision 2016 in its National
Development Plan 10. In addition,
increasing the plan from the 5 year
cycle to 7 years so that it coincides with
the year 2016, when Botswana will be
celebrating 50 years of independence.
»	To ensure that implementation is
holistic, it is cascaded to the districts
through the District Development Plans.
»	Publicity of the Vision has enabled us
Botswana’s economy remains one of Africa’s success stories, having renovated itself within three decades. Comprehensive
macroeconomic policies, good governance, well-functioning institutions and sensible management of resources are the trademarks
of Botswana’s extraordinary economic performance. In an exclusive interview to INDO AFRICA TIMES the Hon President of
Botswana, H.E. Mr. Ian Khama very precisely expounded the fine points of the country on topics concerning investment, sectoral
profile and in particular the extraordinary relations existing between Botswana and India.
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
“Sustainable development is my government’s priority”
H.E. Mr. Ian Khama
President, Botswana

to achieve 93% awareness level of the
aspirations of the Vision, countrywide.
Botswana is known for its tremendous
beauty and business potential. How
are you prioritizing your role for the
development of the country and its
people?
Indeed Botswana is endowed with a
wealth of natural capital, be it fauna and
flora or mineral resources. The challenge
lies in the sustainable exploitation of
these resources in order to benefit future
generations. Sustainable development
is my government’s priority. It is in this
regard that my government has set aside
approximately 49% of the total land area
for conservation purposes.
Tourism has been identified as a key
sector for economic diversification. The
tourist product is predominantly wildlife
based, hence the need to ensure that the
resource is utilized in a manner that will
guarantee its availability for decades to
come. In order to back our commitment
to sound conservation practices, my
government has imposed a ban on trophy
hunting in Botswana. Hunting safaris
are therefore no longer permissible and
there has been a shift towards the more
non-consumptive forms of tourism namely
photographic safaris.
How do you amalgamate your efforts,
strategies with available resources
of Botswana to make it an attractive
destination for Foreign Direct
Investment (FDI)?
Botswana is uniquely endowed with
vast resources and we have invested in
creating a globally competitive policy
framework for the extractive industry,
which can be instrumental in supporting
a beneficiation and value addition agenda.
We have the opportunity to attract
investments into a series of activities that
create entire Eco-systems around the full
value chains of the extractive sector. We
have started the implementation of this
strategy in earnest within the diamond
sector but similar opportunities still exist
with respect to other minerals viz copper,
nickel, soda ash and most importantly coal.
Some of the characteristics that make
Botswana unique are;
»	Botswana is stable, peaceful, and
transparent
»	Botswana is committed to a sound
macroeconomic policy, economic
freedom and has a steady and dramatic
growth rate
»	Botswana opens the door to a massive
market
»	The quality of Botswana’s workforce is
second to none in Africa
»	The Government of Botswana wants
to make your investment work for
investors
»	Botswana is committed to continued
growth
»	 Botswana is rich in natural resources.
Excellency, being the pillar and an
eminent representative for Botswana,
what is your blueprint to attract
investors and boost various sectors for
economic growth?
Botswana’s investment promotion
efforts drive targeted investments by
leveraging on Botswana’s competitive
and comparative advantages. Botswana
strives to hone on its value, offering to
make best use of its own comparative
strengths. Botswana is therefore going
to ensure that we have a conducive
business environment for investment
to thrive in and it is through BITC that
a Business Facilitation Centre was
created as aforestated. Our approach also
puts emphasis on local investment or
participation to ensure that Batswana are
developed and play a role in our country’s
economic growth and prosperity. We have
put in place concerted efforts to consider
already existing local companies that
are active in the market to support and
nurture their existing investment. We
have also placed aftercare services at high
value for investors as it is essential that
they are supported and encouraged to
grow their businesses further.
Furthermore, please note that to
facilitate Foreign Direct Investment
(FDI), we have formed six (6) hubs
to underline our key areas of focus in
this regard; namely, Diamond, Health,
Innovation, Education, Transport as well
as Agriculture.
MONDAY | JUly 14, 2014

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Volume 1 issue 27

  • 1. www.indoafricatimes.com MONDAY | JUly 14, 2014 Title Code: DELENG18579 • RNI NO: DELENG/2014/54666 • Postal Registration No.: DN/325/2014-2016 • VOL. 1 • NO. 27 • Page 12 • Price `10 pg 11 pg 04 pg 07 pg 02 Continued to page 03 pg 12 Let's Roll!!!A Vision of a Solidly United Senegal Mohamed Dionne Named New Prime Minister of Senegal S enegal's President Macky Sall has named Mohammed Dionne as the country's new Prime Minister. Mahammed Boun Abdallah Dionne is conceived as a close kin of the Senegalese President Macky Sall. IT specialist and economist, he was a Cabinet Director of Macky Sall then Prime Minister (2004-2007). Beforehand he has functioned for the United Nations Industrial Development Organization and was a government minister in charge of implementing a multi-billion-dollar development plan in Senegal. Mohamed Dionne, 54, is the third Prime Minister serving under President Macky Sall, after Toure and former banker Abdoul Mbaye. Dionne said after meeting with the President that he has been given a guideline that calls for swiftly getting to work. “The head of state has given me… a roadmap whose contents can be wrapped up in two words: let’s roll,” Dionne told the press after meeting Sall. “Let’s roll, so his vision of a solidly united Senegal becomes a reality under the rule of law.” Dionne underlined development in agriculture and security as tops on his outline. "The head of state gave me and government of the Republic a roadmap that can be broken down into few words... get to work," Dionne said. Dionne'sselectionisexpectedtoopenthewayforthegovernment The Most Dynamic Country in Africa: Mozambique A Place of Spectacular Natural Exquisiteness: Malawi Sustainable development is my government’s priority A Growth Oriented Budget 2014-15 Ghana Gears Up For Glasgow Commonwealth Games
  • 2. Wassupafrica02 The much awaited Union Budget 2014-15 AfDB pushes its Green Bonds: New projects, principles and products P rime Minister of India Narendra Modi has encountered the major exam of his reform credentials, when his fresh-faced government presents its first budget. Modi,63,withanoverwhelming election victory in May and with an assurance to lift growth and create jobs for the 1 million people who enter India's workforce every month. No doubt, Finance Minister Arun Jaitley's maiden budget has lived up to BJP's assurance of leading to Achhe Din (Good Days). However the Finance Minister attempted to give relief to the individual taxpayers in what his party labelled a ''growth-oriented budget'', he though stopped short of coming up to the concerns regarding other sectors, which were enthusiastically expecting some relief. "I propose not to make any changes in the tax rate. However, with the view to provide relief to small and marginal and senior citizen, I propose to increase the personal income tax exemption limit by Rs 50,000 from Rs 2 lakh to Rs 2.50 lakh in case of all individual tax payer who are below the age of 60 years," the Finance Minister said while bestowing budget for 2014- 15 in Parliament. The most imperative declarations made by the Finance Minister are as follows: Salaried Class Raising Income tax exemption limit: Although the slab of tax free income has not enthused up in line with real inflation, Arun Jaitley's notice on taxation has carried some sort of respite to the individual tax payers as it will upsurge the purchasing power of individuals and arouse demand. The personal income-tax exemption limit has been raised Greengrowthisacorporatepriority of the Bank that it achieves through the financing of eligible climate change mitigation and adaptation projects. AfDB Green Bonds – rated Aaa/AAA/AAA – help the Bank reach that goal. Proceeds raised through the sale of AfDB Green Bonds are allocated to a sub-portfolio within the Treasury’s liquidity portfolio until they are disbursed to eligible green projects. To date, outstanding AfDB Green Bonds (including green-themed uridashi bonds sold to Japanese investors) amount to US$ 993 million against a total eligible project pipeline of US$ 1.6 billion. Examples of eligible mitigation and adaptation projects include: renewable energy generation; energy efficiency; vehicle energy efficiency, fleet retrofit or urban transport modal change; biosphere conservation; solid waste management; fugitive emissions and carbon capture; urban development; water supply and access; and low carbon transport. For the Bank’s Green Bond portfolio, a specific set of guidelines have been set up and outlined in the Bank’s Green Bond Framework. Zimbabwe prepares for SADC Summit By Kizito Sikuka The 34TH Summit of the Southern African Development Community (SADC) will be held in August in Zimbabwe. The theme for the summit set for Victoria Fall, Zimbabwe is “SADC Strategy for Economic Transformation: Leveraging the Region’s Diverse Resources for Sustainable Economic and Social Development.” As per the tradition, the host President, Robert Mugabe of Zimbabwe will assume the SADC chair from his Malawian counterpart Peter Mutharika. Malawi hosted the last SADC Summit in August 2013 in Lilongwe, Malawi. The summit is expected to deliberate on a wide range of regional issues including infrastructure development and the general socio-economic situation in southern Africa. Infrastructure development has been identified as a priority area of development in the region. This is because a thriving economy depends on the existence of an efficient, seamless and cost-effective trans- boundary infrastructure network. As such, the region has come up with a number of cross-border infrastructure projects for implementation for the next few years. The projects cover the key sectors of energy, transport, tourism, water, information communication technology and meteorology. Since the summit is being held in the “Year of Agriculture and Food Security,” as declared by the African Union, discussion would also focus on ways to improve production in the region. Southern Africa possesses all the necessary inputs for a flourishing farming region as the region is endowed with fertile soils, a favourable climate and affluent water basins. However, inadequate funding, poor rural infrastructure and neglected agricultural research have seen the region experience some challenges in fully exploiting its potential to increase food and agricultural production. Other main issues for the summit include the possible adoption of the Regional Indicative Strategic Development Plan (RISDP) – a 15-year blueprint for regional development and integration, as well as the general political situation in the region. All the 15 SADC Member States will attend the annual summit. Countries that make up SADC are Angola, Botswana, the Democratic Republic of Congo, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Swaziland, the United Republic of Tanzania, Zambia and Zimbabwe. by Rs 50,000/- that is, from Rs 2 lakh to Rs 2.5 lakh in the case of individual taxpayers, below the age of 60 years. Exemption limit elevated from Rs 2.5 lakh to Rs 3 lakh in the case ofseniorcitizens.Ontheotherhand there is no change in the rate of surcharge either for the corporates or the individuals, HUFs, firms etc. Raising tax exemption under 80C: Investment limit under Section 80C of the Income-Tax Act has also been raised from Rs 1 lakh to Rs 1.5 lakh which will embolden savings to some extent. Public Provident Fund (PPF): In added relief to the depositors, the Finance Minister has raised Public Provident Fund (PPF) deposit limit from Rs 1 lakh to Rs 1.5 lakh per annum. Hiking the cap on interest on home loan: The realty sector, which has been under compression for quite some time, has now been given a rest by the Finance Minister. To incentivize investments into the sector, the deduction limit on account of interest on loan in respect of self-occupied house property has been elevated from Rs 1.5 lakh to Rs 2 lakh. Small entrepreneurs To boost small entrepreneurs, anInvestmentallowanceattherate of 15 percent to a manufacturing company that invests more than Rs 25 crore in any year in new plant and machinery has been declared. The profit will be accessible for three years i.e. for investments upto 31.03.2017. Investment allowance to manufacturing company investing more than Rs.100 crore announced last year will continue till 31.03.2015. Women and senior citizens Finance Minister's budget announcement had nothing precisely for women. Previously, women earning upto Rs 2 lakhs were exempted from paying tax. There was extensive expectation that the limit would be hiked by a minimum of Rs 50,000 over and above the general category exemption limit. As of now, senior citizens earning upto Rs 2,50,000 did not come under the tax bracket. Income tax exemption limit for senior citizen has now been raised to Rs. 3 lakh. Housewives For long, housewives have been economizing on their kitchen outlays, owing to excessive prices of needed items, but the NDA government's announcement on packaged/processed food products and edible oil will certainly give some breather to them. Projects must meet the following criteria: • Be eligible for financing under the African Development Bank only (projects eligible for financing under the African Development Fund and Nigerian Trust Fund will be excluded); • Have financing by the Bank that can be qualified in full as promotingeitherlow-carbonor climate-resilient development (projects whose financing by the Bank can be qualified only partially as promoting either low-carbon or climate resilient development will be excluded); • Lead to significant accumulated greenhouse gas emissions reductions over the lifetime of the asset. 13 projects in seven countries were eligible for financing under the Green Bond program. Recent developments The Xina Solar One Project (US$ 100 million) in South Africa was deemed eligible under the Green Bond framework. In June 2014, the AfDB agreed to adhere to the Green Bond Principles, a set of voluntary guidelines that recommend transparency and disclosure. The principals also promote integrity in the development of the green bond market by clarifying the approach for issuing bonds. A group of global financial institutions launched the Green Bond Principles, and issuers, investors and environmental groups provided guidance for developing them. AfDB Arun jaitley, Finance Minister of India  MONDAY | JUly 14, 2014
  • 3. Wassupafrica 03 T he 10th edition of the map boasts of a cover with the slogan “Two steps from Heaven,” which illustrates the concept of Seychelles being “Paradise on Earth” and which will definitely lure potential visitors to quickly make their way towards these tropical islands. This map once again provides accurate and recent details of all the most important places on Mahe, Praslin, and La Digue and all their satellite islands. It has the usual Help Card with all the emergency numbers in Seychelles, and also where Rwanda looks to Singapore for business partnerships To book your Advertisement please email to ads@indoafricatimes.com or call at +91 8130796166 +91 9310572255 economicreformplanthatincluded an audit of the government payroll and the removal of almost 60 state agencies seen as too costly. The economy will possibly enlarge 4.9 percent this year, from 3.5 percent in 2013, the International Monetary Fund. Senegalese President Macky Sall dismissed Prime Minister Aminata Toure after 10 months in office subsequent to municipal elections recently in the country. Toure, appointed in September as the West African nation’s second female Prime Minister, was removed from the position with immediate effect, the president’s office said in an e-mailed statement. It didn’t give ground for the conclusion. Seychelles in Your Pocket to accelerate the reform process and endeavor to generate more jobs ahead of elections set for 2017. Dionne and his team will thus have to work so that the spirit that the Head of State carries for its youth concerning job creation can be applied by the national and international private sector. “Get at work so that the Act III of the decentralization to become one of the major reforms in order to allow Senegal to become a new territorial governance, a well- balanced territorial development. Get at work so that peace reigns in this country, safety and rule of law”, pointed the new Prime Minister. Let us remind that Mahammed Boun Abdallah Dionne exhibited his talent in the IBM Company before becoming an executive of the Central Bank of West African States (BCEAO). He was also worked in the diplomatic world as an Economic Office Manager of the Senegal Embassy in Paris. Sall has promised to lift growth and create jobs by forcing an FROM PAGE 01 the visitor can insert all his/her personal details, including his/ her blood group, allergies, and any other medical conditions. 150,000 copies of the map have been produced, and these are distributed free of charge both locally and abroad. The tourist guide book, which is its 22nd edition, also has an extraordinary cover, with a similar concept of escaping to a remote, peaceful island away from the turmoil of the outside troubled world. The cover illustrates a potential visitor, who is dreaming of a tropical island in the sun, where he can completely forget all his daily woes. These paradise islands are, of course, no other than Seychelles. It provides all the most recent and updated information, lavishly illustrated, including detailed maps for visitors, tourists, and even for residents, on all aspects of the Seychelles' history, art and culture, tourism industry, economy, and investment possibilities, among others. The small book, which can be easily carried in one's pocket, is ideal for anyone wanting any information at all, including accurate contacts and locations, and on anything they want to do, any-where in Seychelles, from taking a taxi, to booking an excursion, from going out to eat in a restaurant, to finding a petrol station to refuel one's car. The book is available in two versions, Italian/English and French/GermanattheAntikColony shop at the Pirates Arms arcade and also at local book shops, hotel boutiques, and duty-free shops. The map and guide book are indispensable tools for all visitors to the Seychelles to have in their pockets, so that they are very well-informed at all times, thus optimizing their most precious holiday time! Eturbo News Rwanda will be looking forward to promote its exports during the Africa- Singapore business forum next month. Rwanda will take advantage of the forthcoming Africa Singapore Business Forum to foster trade partnerships with Singapore investors.The country has been invited to take part in a one-day meeting due to take place on August 27 in Singapore, Geoffrey Kamanzi, the Private Sector Federation (PSF) head of trade negotiations and facilitation, has said. Kamanzi said the meeting aims at sharpening dialogue skills and will deliver first hand insights from practitioners in Africa and Asia. It is being organised by the International Enterprise Singapore.The forum will also recognise the intense global competition for Africa and Rwanda in particular and the growing influence of private sector, Kamanzi added. Sources at the Private Sector Federation indicated that both countries are expected to sign trade deals to facilitate bilateral trade. Investors from Rwanda will also use the platform to network and share best business practices with their counterparts from the Singapore Business Federation. “We are mobilising our members, especially from agri –business industry, food processing, transport and logistics, oil and gas, mining, retail business and manufacturing to take part in the business forum and share their experience with international firms,” Kamanzi told Business Times. Investors from Singapore, including Vector Scorecard, a renowned small-and-medium software and applications developer, have already expressed interest in investing in the country, the Rwanda High Commission in Singapore, said in a statement.“They have made a detailed presentation to me on how they think they can support in SME development in Rwanda. They wanted either private sector or Rwanda Development Board to front their initiative in Rwanda. We, therefore, look forward to the Rwandan team that will be in Singapore to discuss this initiative further,” said Lukas Murenzi, the in charge of the commercial section at the Rwandan High Commission in Singapore. Co-operation between Rwanda and Singapore has focused more on public sector capacity building for the last few years. The business forum could be a gateway for the private sector to strengthen the commercial aspect of bilateral relationships that exist between the two countries. The Rwandan high commission in Singapore has organised three days of business to business meetings besides the conference for Rwanda delegation and investors from Singapore which could result into business joint ventures between the two sides. New Times President of Senegal, Macky sall with Prime Minister of Senegal, Mahammed Boun Abdallah Dionne  mONDAY | JUly 14, 2014
  • 4. M ozambique is a country in Southeast Africa encircled by the Indian Ocean to the east, Tanzania to the north, Malawi and Zambia to the northwest, Zimbabwe to the west, and Swaziland and South Africa to the southwest. It is detached from Madagascar by the Mozambique Channel to the east. Mozambique is gifted with rich and extensive natural resources. The country's economy is based largely on agriculture, but industry, mainly food and beverages, chemical manufacturing, aluminum and petroleum production, is growing. The country's tourism sector is also growing. South Africa is Mozambique's main trading partner and source of foreign direct investment. Mozambique is a member of the African Union, Commonwealth of Nations, the Community of Portuguese Language Countries, the Latin Union, Organization of Islamic Cooperation and Southern African Development Community and an observer at La Francophonie. Flourishing Economy Mozambique's economy continued to be one of the most vibrant on the continent in 2013, with a 7% rate of real gross domestic product (GDP) growth. The key drivers of growth are foreign direct investment (FDI), dedicated mostly on the extractive sector, and growing public expenditure. The fastest growing sectors in 2013 were the extractive sector, driven by a boost in coal exports, and the financial sector powered by credit CountryoftheWeek04 Advertiser's Index Modern Agro Engineering Works .................................................. Page 02 Chadha Power ............................................................................... Page 02 SSP Pvt. Ltd ................................................................................... Page 03 NewTech Engineers ....................................................................... Page 03 The Times of Africa ........................................................................ Page 05 Expo Group .................................................................................... Page 07 ISIC ................................................................................................ Page 08 Paranthaman .................................................................................. Page 10 Mill India Ltd. .................................................................................. Page 10 Laxmi Publications ......................................................................... Page 11 Prakash Amusement ..................................................................... Page 11 AITEC ............................................................................................. Page 12 expansion and amplified income, mostly positioned on urban areas. Other dynamic sectors are construction, services, and transport and communication, generally connected with infrastructure development and very large-scale projects, known in Mozambique as mega-projects. The agriculture sector, employing 70% of the population, lacks the same economic dynamism, although it is growing at above 4%. Assuming a stable political environment, forecasts are positive for 2014 and 2015, with growth forecast to remain above 8%, supported by increased coal production, continued public investment and the forecast start of the introductory work for the multi-billion dollar liquefied natural gas (LNG) plant. The country economic latent for enticing investment in agro- industry, agriculture, tourism, fishing and mining is massive. Projects such as Mozal, the Cahora Bassa Dam, Railway and Port Corridors and Tourism Facilities throughout the country have been adding meaningfully in placing Mozambique in the course of major regional and international investments. Mozambique AT A GLANCE Country Official Name: Republic of Mozambique Head of State: President of the Republic, H.E. Mr. Armando Emílio Guebuza Capital: Maputo Date of Independence: June 25, 1975 Religions: Christian, Islam and others Government: Unitary Presidential Constitutional Republic Total Area: 799.380 sq km GDP: USD 15.355 Billion Inflation Rate: 2.1% Population: 23.4 Million Language: Portuguese Export Items: Aluminum, Prawns, Cashews, Cotton, Sugar, Citrus, Timber, Bulk Electricity Import items: Machinery and Equipment, Vehicles, Fuel, Chemicals, Metal Products, Food Stuffs, Textiles Climate: Tropical to sub-tropical climate, with annual average temperature of 25ºC, and ample rainfall 6cm – 16cm, fertile soils. Main Economic Sectors: Agriculture Agro Industry, Transport Communication, Mineral Resources Energy, Infrastructure Construction, Tourism Hospitality. Time Zone: CAT or (UTC+2) Currency: Mozambican Metical (MZN) Exports:$3.469 billion Imports:$6.167 billion Agriculture/ Agro processing Sector Agriculture is one of the crucial sectors of Mozambique’s economy. Itslatentishighmostlyinthefertile northern regions. The significant cash crops in Mozambique include sugar, tobacco copra, cashew nuts, tea and cotton. The government heartens farmers to produce industrially convertible crops, such as jatropha and cane to be used in biodiesel. Several companies are by this time implementing such projects. The production of cereals and seeds are currently a top priority in the country. Food processing and nutrition constitute a vigorous challenge for the agricultural sector in Mozambique. Fisheries Sector Mozambique is a country with countless fishing potentialities, derived from its coastal location, with a length of 2.750 kilometers and 200 miles off the coast of Exclusive Economic Zone (EEZ) constituting 586,000 km of surface of ocean water masses, having a diversity of fishery resources. A great area of opportunity is the formation of processing industry. Additionally, there are few aquaculture firms, which have the potential of generating great revenues. Industrial fishing and semi- industrial are the sub-sectors involved in commercial fishing activities, whose production is mostly for the export market. Though, it is vital to note that the development strategy for the sub- sector of Artisanal Fisheries and Aquaculture targets to increase production in these subsectors and create devices to add value to these products so that they access the international market as well as expand supply to the internal market, contributing to food security and nutrition of populations and improved living conditions. Industry/ Manufacture Sector The Major industrial units are located in the main corridors of Mozambique: Maputo, Beira and Nacala. In the last 10 years, a total of 130 new small and medium-sized units opened in the whole country, providing 125,000 jobs, mostly in the sectors of agro-industry, engineering and furniture. The textile and clothing sectors are a primacy in government’s strategy in the creation of work opportunities. The government is inspiring the companies to use the cotton produced locally to manufacture fabric. Under the same strategy, industries that settle in Mozambique obtain a full exemption from paying company taxation (IRPC) for 10 years and 50% in the subsequent 5 years. Mining Sector The mining sector of Mozambique holds great latent. Thecountryisaforemostelectricity producer and an exporter of coal. Numerous foreign companies which hold exploration licenses for oil and gas and minerals, such as titanium, uranium and gold, are searching in the mineral-rich Tete and Sofala provinces. Mozambique attracts part of the FDI inflows into Africa for the following reasons: 1. Political stability and the confidence of foreign investors in the country’s governance system. 2. The existence not only of a national market but also of a regional (SADC) and international market (Mozambique is a member of the WTO and of other multilateral organizations and countries with which it trades) 3. The accessibility of resources, both natural and human, in addition to the relative abundance of the factor “land”. 4. The evidently defined macroeconomic policies that have backed to the auspicious economic growth of recent years. Mozambique The Most Dynamic Country in Africa MONDAY | JUly 14, 2014
  • 5. V odafoneGhanahasappointed Agnes Emefa Essah as its new Chief Marketing Officer effective 2nd July, 2014. She replaces Uche Ofodile. In her new role, Agnes will be responsible for the delivery of innovative products and exciting campaigns that will enhance Vodafone's brand value and increase its market share. Before joining Vodafone, Agnes was the Marketing and Innovation Director at Guinness Ghana Breweries Limited, a subsidiary of Diageo Plc, where she was responsible for business strategy, innovation and brand building. Under her leadership, Guinness Ghana introduced a number of exciting campaigns and pioneering products. Agnes also held various leadership positions in Ghana, the United Kingdom and Namibia while serving with Diageo and was a member of the Board of Directors of Guinness Ghana Breweries Ltd. Commenting on her appointment, the Chief Executive Officer (CEO) of Vodafone Ghana, Haris Broumidis said: 'Agnes BusinessBuzz 05 Vodafone Gets New CMO Entrepreneurs tipped on business laws T he ease of doing business in Rwanda could further improve thanks to the ongoing business laws awareness campaign by Rwanda Development Board. The on going campaign seeks to boost and create awareness on some of the country’s most important business laws such as the company act, intellectual property, mortgage law, insolvency law, trademarks and the law governing intellectual property. The move is expected to further improve the ease of doing business in the country, enhance efficiency on how businesses are managed and spur growth of the small and medium enterprises, Dr. Eliable Muhawenimana, the Investment Climate facility for Africa project coordinator at Rwanda Development Board said. The country wide exercise due to end this month has already benefited business chief executives and entrepreneurs across the country and is expected to continue in the districts of Huye, Kigali, Gisagara, Nyarugugu and Nyamagabe and many others across the country by the end of the month. “The idea is to drive total compliance, giving entrepreneurs skills that will keep their businesses afloat which enhance effective business management systems. We are telling those innovative entrepreneurs to know that it’s important to register their intellectualproperty,”TonyOmara, the Managing Director, Brand Revolution, a communication and consultancy firm tusked to conduct this campaign across the country told The New Times. The World Bank doing business report 2014 ranked the country’s business environment second best in Africa and 32nd globally. The report was based on the ease of doing business and the number of business reforms conducted in the country over the period of twelve months. A welcome move Ruth Umurerwa, a retail business operator in Rubavu district said that equipping business operators with basic knowledge on laws that govern their day to day life experience will contribute to general economic transformation across the country. “Its very important, because this is our daily life, therefore understanding how we can take advantage of the laws is an economic gain for every one along the value chain.” New Times brings an impressive depth of marketing experience and we are pleased to have her join us. Her invaluable skills will be beneficial to Vodafone as we continue to lead innovation in the industry and provide Ghanaians with the best telecommunications products and service.' Over the last two decades, Agnes has managed top brands including Guinness, Malta Guinness, Alvaro, and Premium Spirits including Johnnie Walker, Baileys, Ciroc, as well as Smirnoff Ice, Heineken, and Mobitel, now Tigo. She has a management style that produced an outstanding achievement in the field of marketing and innovation. Agnes was awarded 'Marketing Practitioner of the year 2012' by the Chartered Institute of Marketing Ghana (CIMG) for her marketing excellence and leadership. The new Vodafone CMO holds a Masters in Business AdministrationfromtheUniversity of Ghana Business School and a Bachelor of Arts degree from the University of Ghana. AfDB After having visited the Praslin business community and heard their many concerns, the Chairman of the Seychelles Chamber of Commerce said he was pleased to hear this week of the launching of the Praslin Culinary and Arts Fiesta to be organised by the Ministry of Tourism and Culture. The fiesta which is due to take place from the 5th to the 7th of September 2014 has been well received by the chamber and its members especially those operating on Praslin. “This event comes at a fitting time, when the Praslin business community are appealing to the Government to listen to their many concerns they have expressed which are affecting their business operations, of which one of it were the fact that they are not benefitting from the tourism as much as the business from Mahe given their many challenges.” Says Mr. Marco Francis, Chairman of the Seychelles Chamber of commerce and industry. Mr. Francis explained that the SCCI members from Praslin, especially those in the hospitality business are commending the ministry of Tourism and Culture for such initiative and expressed their support in making the first one a success. It is the first time that Seychelles will be using its coco-de-mer nut in an innovative way to entice visitors on the island. This event will put the island of Praslin in the forefront. For this reason the private sector from Praslin has pledged their support towards the event as they believed it will help to bring the much needed visibility for the island and hopefully help raise the profile of Praslin to what it used to be once upon a time. SCCI SCCI commends the organisers of the new Praslin Culinary and Art fiesta for Their Initiative mONDAY | JUly 14, 2014
  • 6. T he Board of Governors of the African Development Bank Group (AfDB) through its private window has approved a US $9 million line of credit (LOC) equivalent in Mozambique metica (MZN) to Moza Banco. Moza Banco S.A. is one of Mozambique’s fastest- growing financial institutions with strong focus on SMEs. Moza Banco is actively present in almost all of Mozambique’s 11 provinces with business including (i) corporate, (ii) SMEs and (iii) retail. The LOC will upkeep SME sub-projects and these are well- branched out spanning all economic sectors counting manufacturing, commerce/trade, services, tourism, construction, agriculture and transport, etc. Small and Medium sized Enterprises (SMEs) are indispensable to budding African employment and GDP. No doubt, SMEs are the best candidates to attain inclusive growth in Africa as they contribute notably to income generation and job creation. Small scale industry typically makes a large contribution to manufacturing employment in developing countries and the approaches of developing small scale industries include building skills and promoting technological development for fast and improved operation, which India is ready to share with the African continent. Furthermore, concentration in SME’s also seems to have been further revitalized in the face of globalization, which is progressively becoming a commanding force in world trade because of their suppleness and quick flexibility to change. As Africa moves towards more rapid industrialization, there is a growing recognition that SME offer significant avenues for supporting industrialization and generating employment. Development of SMEs in Africa would widely held rewards in income growth, entrepreneurial training, creation of technological capabilities, greater flexibility for changing market circumstances and job creation. At present, Africa presents a unique business environment offering both challenges and opportunities. Indian companies with its deep industry knowledge and expertise can equip the targeted people with the skills and the insights that will enable them operate their business more strategically and profitably in Africa. It will further furnish them with the traits of successful entrepreneurs. Africa can then prosper with knowledge, skills, insight and ideas. In high-income countries, SMEs signify a high share of economic activity, a large share of employment, and carry informal business activity into the formal economy. Hitherto, a severe lack of financing is limiting the ability of African SMEs to cultivate and attain pace. Present estimations put the SME finance gap at $80bn across Africa. A big trouble to be sure, but it is tough to visualise another economic development ‘problem’ that offers such a striking commercial return to those who can deliver a solution. The major populace in Africa which lives in the rural areas is also being commissioned by banks financial institutions by making finance accessible to those micro entrepreneurs in assisting them start their FRANKLY SPEAKING06 Miles Sampa Deputy Minister, Zambian Commerce, Trade and Industry Laurent Serge ETOUNDI SME Minister, Cameroon By kirit sobti, editor, iat editor@indoafricatimes.com Zambia is booming and mostly through its SMEs, but in the recent past the scenario of this was witnessed to be deteriorating. But, Zambians have recently got the new air of relief as the small and medium enterprises in Zambia are to profit from a new source of financing. South Africa’s micro financier, Business Partners International (BPI) established in 2004 as a subsidiary of Business Partners Limited launched a branch in the African nation and have set aside US$10 million for loans to small and medium enterprises. During the launch, BPI Africa’s Managing Director, Nazeem Martin asserted, “The organisation has put up US$30 million under the BPI southern Africa SME Fund to Malawi, Namibia and Zambia.” He added, “We are launching the Zambia office subsequent to our Namibia office launch last week and hopefully we will be able to takeoff the Malawi office next month. The US$30 million investment fund for these countries is coming with a parallel to US$1 million as technical assistance facility.” Worth mentioning, the technical investors comprise of International Finance Corporation, the African Development Bank, Stichting DOEN and FMO of Netherlands, Propacro of France and Business Partners. In the same vein, the Zambian Commerce, Trade and Industry Deputy Minister Miles Sampa also urged that the SMEs in Zambia needs to increase their performance in regard to safeguard quality and benefit from the funding. He also quoted that the upcoming BPI Zambia, SMEs should take benefit of the regional trust fund and access these funds available with a pay-back term of five to ten years. The organization has been set up in Malawi, Kenya, Rwanda, Namibia, and Zambia. own business. Banks, Financial Institutions, Private Equity Firms and NGOs across Africa are heartening entrepreneurs to come up with pioneering business ideas and discover opportunities in introducing a business startup. With reference to various financing initiatives, African Development Bank delivers guarantees to SME’s projects. While this may appear to be a frightening challenge, the possibility of the problem may be more controllable than it first appears. The key to unravelling the funding gap is to comprehend its key drivers and then implement targeted solutions for this discrete, but attractive market. Banks say that SMEs need to be much tighter in their management and financial functions, and they need to be more informed about the loan application process. And SMEs in many areas do not seem to fully hold the scope of the challenge. According to SMEs, bank lending practices need upgrading too, in areas like lower interest rates and longer loan terms. They conceive that many bank credit staff are not well-versed in how business cycles impact cash flow, that collateral requirements can be scary, and that banks do not take time to appreciate the single challenges of individual businesses. Once we classify key grounds of the funding gap, solutions seem within reach as long as both sides come together in a deliberate effort to fix the problem. A critical first step is to unlock commercial debt from Africa’s own banks, by prioritizing SME finance and launching targeted initiatives “down market” that engage this sector. Though we may also need new models of financial institutions specifically focused on this segment—e.g., more resources for underfunded microfinance banks so they can go “up-market” to close the funding gap. Insurers also need to get involved: educating business owners, providing assistance in obtaining insurance, and designing policies for this market that shore up coverage gaps and help businesses qualify for credit. Accounting and auditing firms should also be throwing custom-made and reasonable service offerings to this segment, to help SMEs meet banks’ necessities for formalized financial functions. In the nutshell we can say that the role of SME’s is without doubt the foundation for the growth and expansion of Africa and should be undertaken in partnership with African governments, international donors, private sectors and the Diaspora itself. They cannot work in isolation of each other and as such all have a mutual role to play in the sustained economic reform and transformation of Africa. This sector is ideally suited to build on the strengths of the traditional skills and knowledge, by infusion of technologies, capital and innovative marketing practices. Small and Medium Enterprises today constitute a very important segment of the African economy. It has emerged as a dynamic and vibrant sector. With the help from India this sector of Africa can achieve a wide measure of industrial growth and diversification. The role that SMEs play in our economy cannot be overlooked. They are a major contributor to development and I urge them to step up their gear to start thinking big so that they can become recognised in Africa. Today, the role of SMEs in enhancing economic growth is acknowledged worldwide. In emerging countries, SMEs are very competitive. Governments therefore intensify efforts like the creation of this bank to render the SMEs more performance and competitiveness but this must be accompanied by well-defined rules. Is lack of financing limiting the capability of African SMEs to grow? With reference to various financing initiatives, African Development Bank delivers guarantees to SME’s projects. US$10million to Finance Zambian SMEs MONDAY | JUly 14, 2014
  • 7. TRAVELtourism 07 H ere tourists will discover the African Great Lake of Lake Malawi in the Great Rift Valley system, projected to be between 40,000 and two million years old. It is the third largest and second deepest lake in Africa and occupies a fifth of Malawi with its vibrant tropical waters pouring with more fish species than any other lake on Earth. Adjoining the lake is Lake Malawi National Park, the world’s first freshwater national park and a World Heritage Site. Innumerable thousands of freshwater fish, the mbuna, are more lavish and diverse here than anywhere else in the world. Boats can be rented and the fish feed right from one’s hand. Away from the lake, there are baboons, antelope, and hyrax, as well as almighty birdlife, and the lake this extends boundless opportunities for sporting activities like kayaking, snorkeling, and scuba-diving. The lake encompasses a number of small islands, all located in “Areas of Outstanding Natural Beauty,” and even though well-preserved in their natural state, some of them have been settled for eco-tourism. Malawi’s largest park, Nyika National Park, has got to be one of the most outstanding destinations in Africa. It is a heaven of flowers, counting ground orchids, proteas, irises, and is home to vast herds of eland, the largest of the antelope. Horseback safaris are untaken here, and there is no ecstasy like that of riding MalawiA Place of Spectacular Natural Exquisiteness » Malawi is known as “The Warm Heart of Africa”. » Lake Malawi is the ninth largest lake in the world. » Malawi is a Twitcher’s paradise. » Malawi is about half the size of the United Kingdom and one fifth is covered by Lake Malawi. » ‘Matolas’ (single-cab pick-up trucks) are the main modes of public transport in Malawi. through a ruck of zebra or roan antelope. The eastern edge of the plateau takes form of the wall of the Great Rift Valley where visitors could hire a mountain bike or hike all the way down to Livingstonia, which is the best way to apprise Nyika’s scale without overlooking its delicate detail. Positioned within a cluster of timbered hills high up against the plateau of central Malawi is the richest concentration of Chongoni rock art in Central Africa. This tradition of farmer rock art, as well as paintings by BaTwa hunter- gatherers who occupied the area from the late Stone Age can be found in where Chewa agriculturalists’ ancestors lived here from the late Iron Age and practiced rock painting well into the 20th century. Resting east of Blantyre are the unembellished rock flanks of the mountain tower known as Mount Mulanje. There is a great deal of wildlife, from the klipspringer a tiny antelope to various other small mammals and, of course, a large variety of birds. Visitors can drive around the entire foot of the mountain in a day or experience it more closely by climbing and camping on the slopes, taking moderately gentle walks or attempting some more demanding climbs. Camping equipment and the services of a guide can also be hired. Lake Malawi Nyika National Park RiftValley mONDAY | JUly 14, 2014
  • 8. TALKINGTECHNOLOGY08 By Shalish Kumar O ften when potential importers are duly satisfied with the product, quality, sample sent for approval or lab analysis, packing, delivery schedule and prices acceptable. They request for a firm offer from the exporters. What do most exporters provide their prospective buyers? Offer quotation indicating price, quantity and cost of transportation? Other terms like, Mode of payment, product availability, shipping instructions and service charges? Terms of sale, description and delivery time? Yes, but this is not enough information for importers to make a buying decision. To make life easier for buyers, exporters should always quote using a carefully prepared Performa invoice. It is a common for most exporters to provide their buyers with limited information when asked for a quotation. This lack of details and accurate information by exporters is probably a major factor why products with good quality and competitive prices do not get sold. Whether you are the exporter or the importer, it is quite critical that you understand how successful exporters quote buyers usingproformainvoice.Youshould be able to clearly distinguish the differences between quotation, Performa invoice and commercial invoice. The following brief descriptions are intended to help you understand their differences and to provide you with all the items that you should include in a Performa invoice plus the areas that you have to consider when completing a commercial invoice. Quotations A worksheet for calculating export costs to sell goods or services at a stated price and under specific conditions, the quotation is generally presented to the buyer in a formal way using a Performa invoice. A quotation may include all the contents that appear in a typical pro forma invoice except:- (1)Country of origin of product and (2)the title Performa invoice. Performa Invoice A price quotation prepared in the form of an invoice, a Performa invoice, is different from commercial invoices. It is used to create a sale and is sent in advance of the commercial invoice. The content of a Performa invoice is almost identical to a commercial invoice and is usually considered a binding agreement although the price might change in advance of the final sale. For establishment of LC or for advance payment by the importer through his bank, usually banks prefer Performa invoice to a quotation. In some countries, the US for example, Customs may accept a Performainvoice(generatedbythe US importer and not the exporter) if the required commercial invoice is not available at the time when filing entry documents (entry - the process of filing documents with US Customs at the port of entry to get goods released from Customs). U.S. Customs may use a pro forma invoice to assess duty and examine goods. The importer on record however, is required to post a bond and produce a commercial invoice within 120 days from the date of entry. If the required commercial invoice is needed for statistical purposes the importer has to produce the commercial invoice within 50 days from the date Customs releases the goods to the importer. Here are some reasons why pro forma invoices are widely used in international transactions: Considered as a binding agreement between exporter and importer. May be required by somecountries as part of their import licensing procedures. Bankers and financial institutions use proforma invoices to open lettersofcredit,advancepayments, etc., for importers. Easily recognized due to their similarity to commercial invoices. Pro forma invoice format encourages exporters to include all the information that shall appear in the commercial invoice. Keep the following points in mind when your company is asked to produce a proforma invoice: » The title of the document should clearly say Pro Forma Invoice. » Exporter's name, address, telephone number and e-mail address. » Sold to name, address, telephone number and e-mail address. » Pro forma invoice reference number. » Date issued. The date of the pro forma invoice is the date of the quotation. » Customers Inquiry reference number or purchase order number, if available. » Terms of payment (letter of credit, documentary collection, pre-payment, T/T, open account etc.). » Exporters banking details for advising /negotiating LC or SWIFT code details for Wire Transfer. » Estimated date of shipment. » If more than one product, numbereachproductbeginning with number 1. » Type of Delivery shipment : Full in one lot or partial. » Indicate Transshipment if any, » Quantity shipped per lot. » Full product description, include the Harmonized Schedule (HS) code if available. » Indicate clearly currency used (USD, Euro, Yen etc.). » Unit pricing should be included. » Unit pricing should be extended by the quantities quoted to form the line item total. » Any additional supplies- provided services should be itemized and should be added to reach a grand total. » Terms of sale using latest INCOTERMS (FOB, CIF, CFR, DDU etc.- named port or destination). » Identify the number of unit measure, weight, case, pallets, box, etc., » The country of origin of the product. » Cost of any additional documents, inspection, legalization, etc., to be borne by the importer or exporter. » Validity period, never make open-ended commitments remember that the validity date can be changed. » Must be signed and title to be included. » Column for Acceptance with Signature, title of the buyer to be incorporated in PI or covering letter. Remember that pro forma invoices are formal offers to sell. When the buyers agree with all the terms and conditions of the pro forma invoice the result is a purchase order sent by the buyer, which finally leads to a sales contract that is, if the buyer and the exporter agree to have a formal sales contract. The pro forma and purchase order must be compared before goods are shipped to check for discrepancies. Should there be a discrepancy, the buyer should be promptly notified to correct any errors. Commercial Invoice Prepared after the sale takes place,thecommercialinvoiceisthe final bill from the exporter to the buyer that conforms in all respects to the agreement. It could have the exact terms of the pro forma invoice first offered, or it could differ in those terms that were the result of final negotiations. Commercial invoices are also used by governments to determine the true value of goods for assessing Customs duties, examining goods and gathering statistics. Additionally, many countries use commercial invoices to control imports. It is critical for the exporter to check with the buyer the type of information that must be included in the commercial invoice in order to clear Customs in the buyer's country. Here are few key areas to consider when producing a commercial invoice. Should be prepared in the manner customary to trade. Most countries require that a commercial invoice must be filed for each shipment. It must be original although some countries accept photo copies with a declaration by foreign suppliers, shippers or importers verifying that it is a true copy. When an invoice is not available some countries accept a pro forma invoice with information adequate to assess duty, examine goods and collect statistics. Some countries may require a special Customs Invoice - US for example, waived Customs Invoices in March 1, 1982. Common Invoicing Mistakes by Exporters The following are a few of the many common invoicing mistakes that are often made by exporters. Any of the following mistakes may cause delay, crippling penalties or total seizure of products by Customs officials. » Under invoicing, declaring less than the actual value of goods. » Vague descriptions. » Several distinct articles lumped as one. » Supplier does not show the discounted invoice at the net price. » Omission of royalties, commissions, packaging and other dutiable additions that make up market value. » Transportation and insurance charges not itemized separately (some countries do not assess duty on transportation and insurance charges). » Pertinent information missing and lines left blank. » Missing country of origin. » Invoices not signed by supplier or supplier's agent. » Calculation mistakes in words and figures. Remember, at a minimum, an invoice must always clearly show the total invoice value, non dutiable charges, add to make market value (if dutiable), and net entered value of the merchandise imported. By carefully preparing a pro forma invoice, the exporter can increase the chances of the offer to sell to be accepted by the buyer and eventually increase the exporter's sales and profit. Because the pro forma invoice is the first document the buyer receives from the exporter, there is a psychological advantage in laying everything out, since the easiest thing for the buyer to do is to accept the proposed offer. Help your buyer to accept your offer by providing a thoroughly prepared pro forma invoice. About the author: CEO of World Trade Connections.Heisaconsultantand a trainer in the field of Exports and Import since 1984. He has wide experience in international trade especially “Marketing of products” Traveled extensively in major part of the world and has successfully offered assured business to numerous manufacturers, Joint Ventures, Technology Transfers etc., He is invited and associated with numerous Local Trade Bodies, Chamber of Commerce, Educational and training institutes imparting training in the field of Export Import. His practical approach and lucid style of presentation endears him to the participants instantly. 2nd Floor, B-166, Shrenikpark, Opp. Akota Stadium, Productivity Road, Vadodara-390020[ Guj.] India. Telefax: +91 265 2342145/9824067098/9925292092 Email: wtcindia@gmail.com Website: www.worldtradeconnections.co.in HAPPY EXPORTING MONDAY | JUly 14, 2014
  • 9. TRYSOMETHINGNEW 09 Ingredients • 2 cups Gram flour (besan) sieved • Yogurt beaten1 cup • Salt to taste • Turmeric powder 1/2 teaspoon • Green chili-ginger paste • 1 teaspoon Oil • 2 tablespoons Lemon juice • 1 tablespoon Soda bicarbonate • 1 teaspoon Mustard seeds • 2 tablespoons coriander leaves chopped • 1/2 cup Coconut scraped Prepration Method 1. Take gram flour in a bowl. Add yogurt and approximately one cup of warm water and mix. Avoid lumps. Add salt and mix again. International Conference on Business Management and Information Technology This is organized by the World Academic Industry Research Collaboration Organization. The conference will cover areas like Web Application And Web Service, Computer Science And Engineering, Information Technology And Computer Education, Other Topics Related To Ict And Its Applications. Date: 17-18 Jul 2014 Venue: The Fern Citadel Hotel, Bangalore, India Green Power-Chennai Green Power-Chennai is entering its 9th edition of the session. This is one of the biggest exhibition cum conference for renewable energy technologies sector in India for 2 days the exposition is being organized by Confederation of Indian Industry. Date: 17-18 Jul 2014 Venue: Chennai Trade Convention Centre, Chennai, India India International Jewellery Show Over the years, this show is the most visited jewelry show which demonstrates the best and exclusive range of jewelry items. The organizers have announced this international jewelry show scheduled to be held at Bombay Exhibition Center, Mumbai. The exhibitors come face to face with the rival companies as well as also come to know about the intensity of the competition in the market. The show is categorized amongst the leading antique show which will surely satisfy the requirements of the global customers. Date: 17-21 Jul 2014 Venue: Bombay Convention Exhibition Centre, Mumbai, India Hospitality Expo Hospitality Expo is a 3 day event being held from 4th August to the 6th August 2014 at the Gujarat University Convention Exhibition Center in Ahmedabad, India. This event showcases products like commercial kitchen equipment, cutlery and table products, hospitality technology, furniture and fit out solutions, commercial refrigeration equipment, fb service products, glass and glassware, bar, wine accessories and equipment, commercial coffee machines, lighting and controls, furniture furnishing, bathroom fittings, hotel POS machines, EPRS systems, accounting systems, dry cleaning machines and cleaning solutions etc. in the Business Services, Food Beverage industries. Date: 04-06 Aug 2014 Venue: Gujarat University Convention Exhibition, Ahmedabad, India Catering Expo This event showcases products like cutlery and d table products, fb service products, glass and glassware, commercial coffee machines, food and drink vending solutions, fast food kitchen equipment, food decoration products, food display equipment, food ingredients, ready to eat food, packed food, flavors, milk and dairy products, health food products, sweets snacks and confectionery products, fresh food products, fruit and vegetable products, food additives and ingredients, hollow ware, glassware, chinaware, crystalline ware porcelain, mini bars and cutlery crockery etc. in the Business Services, Food Beverage industries. Date: 04-06 Aug 2014 Venue: Gujarat University Convention Exhibition, Ahmedabad, India upcoming Nothing is impossible; The word itself says I’m possible THOUGHT OF THE WEEK Khaman Dhokhla African Cuisine Handy Hindi 2. Leave it aside to ferment for three to four hours. When gram flour mixture has fermented, add turmeric powder and green chili-ginger paste. Mix Heat the steamer. Grease a thali (plate) 3. In a small bowl take lemon juice, soda bicarbonate, one teaspoon of oil and mix. Add it to the batter and whisk briskly. Pour batter into the greased thali (plate) and place it in the steamer. 4. Cover with the lid and steam for ten minutes. When a little cool, cut into squares and keep in a serving bowl/plate. 5. Heat remaining oil in a small pan. Add mustard seeds. When the seeds begin to crackle, remove and pour over the dhoklas. 6. Serve, garnished with chopped coriander leaves and scraped coconut. Find The Path 1. I missed you so much! मुझे आपकी बहुत याद आयी। 2. Can you help me? कया आप मेरी मदद कर सकते हैं ? 3. Where do you live? आप कहाँ रहते हैं? 4. How old are you? आपकी उमर कया है? picture of the week The Union Minister for Finance, Corporate Affairs and Defence, Shri Arun Jaitley giving final touches to the General Budget 2014-15, in New Delhi on July 09, 2014. The Minister of State for Commerce Industry (Independent Charge), Finance and Corporate Affairs, Smt. Nirmala Sitharaman and the Secretaries of the Ministry are also seen  WARM LEMON WATER BENEFITS OF DRINKING » Lemon is an excellent and rich source of vitamin C, an essential nutrient that protects the body against immune system deficiencies. » It balances maintain the pH levels in the body. » It is also a great source citric acid, potassium, calcium, phosphorus and magnesium. » It helps cure the common cold. » It strengthens the liver by providing energy to the liver enzymes when they are too dilute. South Africa is larger than Germany, France and Italy combined. The country has more wild species than the whole of North and, South America, Europe and Asia together. End Start 1. What bone has a sense of humor? 2. Where do fish keep their money? 3. The more of them you take, the more you leave behind. What are they? 4. What's full of holes but still holds water? 5. What two things you can never eat for breakfast? 6. What gets whiter the dirtier it gets? Brain Teasers ANSWERS 1. HUMUROUS 2. RIVERBANK 3. FOOTSTEPS 4. A SPONGE 5. LUNCH DINNER 6. A BLACKBOARD CHALKBOARD mONDAY | JUly 14, 2014
  • 10. THEFASHIONISTAS10 North Wings Band Grabs New Music Ghana Prize N orth Wings Band last week won the first prize of the New Music Ghana competition, which was held at the Youth Home Centre in the Northern regional capital, Tamale. The eight-piece band, comprising youthful musicians, swayed the judges with a magnetic stagecraft, an effective blending of traditional/western musical instruments and infectious lyrics that captured the attention of the audience. Clad colourful costumes, the group entertained the audience with a fine combination of Bamaya, Gahu and Agbadza with jazz and highlife, thereby drawing huge cheers and applause from the audience. Trumpets, keyboards, djembes from North Wings created a cool atmosphere as percussive instruments and western drum sets pounded the cold night air at the Youth Home Centre. Suhuyini, Yurlim, Young Echoes and Bizung School Bands In an interview, Ms. Njie said I Am ready for Africa and my move towards this is progressing steadily. I haven't done any major productions and I still have a lot to learn, and as a university graduate I would say it has prepared me both mentally and physically to take on new challenges ahead of me. 'Am an up-coming actress and in view of this am willing to take on different roles/personalities. I want to gain as much experience Sexy Gambian Actress Joanna Njie to Visit Ghana ... In Pursuit Of Her Acting Dreams tookthesecond,third,fourthand fifth positions respectively in the keenly contested competition, which has managed to serve as a platform for young musicians to promote themselves over the past five years. All groups received cash prizes totalling GH ¢3,000.00. As part of the festival, B. A Konlaan (Chairman, MUSIGA- Northern Region), Dela Botri (Flutist, Composer) and Abdul Rahaman Mohammed (Dancer, Choreographer) moderated a numberofworkshopsonvarious topics relating to marketing and new ways of expressing Ghanaian music. New Music Ghana Festival (NMGF) has succeeded in bringing young and veteran musicians together and has been a catalyst for the re-emergence of live band music. Indeed, it has revitalised a proud sense of cultural identity among young Ghanaian musicians. NMGF also assists young musicians to shape their musical and social skills that are necessary to ensure a smooth transition into the professional world. Undeniably, it has the potential of becoming the springboard that would launch a new era of Ghana's popular music on the global arena. The festival, which was organised by the Institute for Music and Development, was sponsored by the Goethe- Institut in Accra in collaboration with Arterial Network Ghana. Modern Ghana as possible in acting in Ghana to make me more versatile as an actress. Am determined to bring fun, and hopefully inspire many movie lovers in Africa and the world at large' She added. The actress said her hobbies include, absolutely love for shopping, dancing, singing and socializing with friends. She also loves travelling to new places however she is scared of flying. Modern Ghana Braids are great for summer hair. They're generally pretty easy to do, they look good when they're messy (see: a zillion celebrities), and they keep you cool as a pony tail, but a little more chicly. Waterfall Braid 1) Prepare hair for braiding 2) Brush underneath the nape of the neck to ensure no knots remain. 3) Part your hair in the middle. 4) Section off the top third of your hair 5) Braid the hair toward the back of your head in a French braid style 6) create that “waterfall” look. 7) Pick up a new strand of hair located next to the strand you’ve dropped to replace that strand. 8) Secure the braid with bobby pins if needed. 9) Braid the remaining “tail” until you run out of hair. 10) Decorate. Messy Side Braid Bun 1) Make a side ponytail close to the nape of the neck. 2) Split the hair into three sections. 3) Fishtail Braid each of the sections. 4) Pull out the folded pieces (the bits that you bring over when plaiting) on each side to double the size of the plait. 5) Lastly, all you need to do is take the 3 plaits and wrap them around the bobble in an artistic sort of way! Then fix them using kirby grips, you might need quite a few to adjust the shape to your liking. Fishtail 1) Divide your hair into a side parting and take the whole length of your hair over to one side. 2) Begin by splitting the hair into two sections. 3) Take a small piece of hair from the outside of one of the two main sections and bring it to the inside of the opposite section. 4) Then take a small piece of hair from the outside of the other section and bring it to the inside of the opposite section, then pull tight. 5) Keep taking small pieces from each side into the inside of each section to develop the inverted braided pattern. 6) Keep going until you reach the end and finish by tying the hair with a clear elastic band. 7) Fishtail braids look best with a slept-in look so tease the braid by pulling out some strands for a more textured look. Classic French 1) Start by taking a section from the top of the head. Separate this section into 3 strands crossing right over middle and then left over middle. 2) Switch all of the strands over to your left hand and keep strands separated. 3) You can now gather a small even section from the right side of the head with your right hand and add it to the right strand. 4) Bring the strand you have just added to, over to the middle and bring the middle strand to the right. 5) Now switch hands keeping all strands separate, so your left hand will be free. 6) Gather a section of hair from the left side of the head. Add this to the left strand. 7) You will now bring the left strand over to the middle and bring the middle section to the left. As you follow these steps, try to keep your hands close to the head so the braid will be tight. 8) Repeat steps 2 and 3 until there is no hair available to add. Little Braid + PonyTail 1) Make a side part, then take a section of hair from the front left side of your part to your left temple. 2) Split this into three and weave together to make a braid. Braid the right over the centre, then the left over the right and continue to braid that section. 3) Stretch out the braid to make it look thicker. Secure the end with a pin or small elastic. 4) Gather all your hair into a ponytail and secure with an elastic. Take the pin or elastic off the first braid, now it is tied in with the ponytail. 5) Take a small piece of hair and wrap it around your hair elastic to cover it. Braided updo 1) Leaving a section loose on either side of your face, and gather the rest of your hair back into a ponytail. Pull gently at the top of your ponytail so it’s not too tight. 2) Braid half of the hair on the left hand side, and wrap it over your ponytail. Repeat with the right hand side. 3. Braid the lower section of hair on the left hand side and wrap over your ponytail. Pin in place with a bobby pin underneath your ponytail. Repeat on the right hand side. Important: Stretch out your braids! Pull at the sides to make your hair look thicker and fuller. 4. Loosely braid your ponytail and roll it under to form a bun. Pin in place with bobby pins. Braided Updo Classi french Fish tail braid Messy side braid bun Waterfall braids Gorgeous Braid Styles  Joanna Njie MONDAY | JUly 14, 2014
  • 11. SPORTS2WATCH 11 Team Ghana Gears Up… For Glasgow Commonwealth Games Ghana defender John Pantsil signs two-year deal with PSL side Maritzburg Women groups receive annual savings Obama's YALI programme admits 18 Ghanaians A thletes who would be representing Ghana at the 20th Commonwealth Games in Glasgow are peaking in form ahead of the sports festival, Joseph Yammin, former Deputy Youth and Sports Minister, has said. The contingent, who would be joined by the shooting team later, is currently pitching camp in Ayrshire, south-west of Scotland, and would be there for three weeks. Hon Yammin, now deputy Ashanti Regional Minister, is the chairman of the Commonwealth Committee, and he revealed in The Alangtaaba Women's Group in Aware done in Winkongo in the Upper East Region made up of 27 women received GH¢ 12, 750 from their annual savings under the Savings and Internal Lending Community (SILC). The group was among twenty seven women groups and one male group constituting over 900 people to share out their savings they accumulated in one year to undertake income generating activities and care for their health needs. The savings and internal Lending Community (SILC) was instituted in 2010 by Catholic Relief Services (CRS), the Community Maternal and Child Care Services (CIMACS) in collaboration with the Ghana Health Service to promote and improve maternal and child births. The annual durbar was witnessed with pomp and pageantry as the women anticipated their share of savings as savings boxes were opened. Mrs. Evelyn Naaso, District Director of Health Services of the Ghana Health Services (GHS) before the share-out reiterated the important domestic roles of women in providing good nutrition for their homes She recounted the roles of SILC and CIMACS in improving health of women and children in the community and congratulated them, the staff and the chiefs for the support. Mr. Robert Asambobillah, Coordinator, CRS In an interview with the Ghana News Agency said the Savings and internal Lending Community Ghana defender John Paintsil has signed a two-year contract with South African club Maritzburg United, GHANAaoccernet.com can exclusively reveal. The former Fulham man joins the PSL club as a free agent having completed his one-year contract with lower tier club Santos FC. Paintsil concluded negotiations and signed a two- year contract to become the first off-season signing of the Team of Choice. The experienced right-back wants to prove himself once more again at top flight level following his brief stint in the South African second tier with Santos. He will be joining compatriot Awal Mohammed at Maritzburg United who finished 10th in the South African League last season. Paintsil is yet to be unveiled and handed a squad number at his new club. Modern Ghana The fellowship programme will provide outstanding young leaders with opportunity to hone their skills at a US university, and support their professional development after they return home. Assistant Secretary for African Affairs, Linda Thomas-Greenfield at LiveAtState Virtual news Conference said the future of Africa is in the hands of the youth. 'If you look at the statistics, 65 per cent of the population is 35 and under. That is a huge, huge youth bulge, and it is that population that will be the future of Africa,' she said. She said the Obama's administration has made it a major priority to help African countries prepare for the future, 'to mentor young people, to support them, to train them to lead in the future'. About 500 young people are from Africa out of 50,000 applications received for the slots. In all, there were about 80,000 who attempted while 30,000 did not get their applications completed. The Ghanaians joining their counterparts would receive mentorship in entrepreneurship, civil society and public service and participate in the US - Africa Leaders' Summit scheduled for August 4 to August 6 where President Obama will host 51 heads of state and government from Africa for the first ever in Washington. Madam Thomas-Greenfield said the first day of the conference, will witness series of signature events focusing on partnership with Africa in the past. The second day, she said, would be the actual Chief Executive Officer Leaders forum which will bring together about 200 companies.The last and actual day of the Summit will centre on three different themes. New Times an interview that the team is peaking by the day, expressing the hope that they would do Ghana proud in the impending Games. He mentioned that a contingent of 106 would be representing the nation in the 11-day sports fiesta, and battle for honours in 10 disciplines namely athletics, badminton, boxing, fencing, judo, shooting, swimming, table tennis, weightlifting and disabled sport. Team Ghana, until their departure for the Games, pitched camp at the Theodosia Okoh Hockey Stadium Hostel for close  John Pantsil to two weeks. Hon Yammin, in a farewell message at the camp in Accra, charged the team to strive for excellence. 'You are going as ambassadors of Ghana and therefore government and the people of Ghana expect that you make yourselves and the country proud. 'Nothing should make you feel inferior; you are just like your competitors. Remain focused, be determined and always have it at the back of your mind that you are representing Ghana. Go and succeed,' he added. Seventy-one nations would battle for supremacy in 17 sports disciplines, and 261 medal events at 13 venues. Clyde, the mascot for the Games, is a thistle named after the river which flows through the centre of Glasgow. Celtic Park will host the opening ceremony, while Hampden Park takes care of the closing in the Games scheduled for July 23 to August 3. The city of Delhi, India, hosted the last edition four years ago. Modern Ghana (SILC) was Instituted by CRS to improve Community savings and maternal and New Born Care services (CIMACS) and livelihood. He said the two programmes were run in partnership with the Ghana Health Service to improve maternal and child care, promote antenatal attendance, good nutrition among pregnant and lactating mothers and serve as a support for the women in the community to have financial support for their needs. Mr. Asambobillah said though CRS phased out in 2012 from CIMACS in 2012, SILC was still promoted in the community and added that migration from the community reduced through the implementation of SILC because beneficiaries had financial support services through their own lending schemes to address pertinent family problems. He noted that his outfit under new funding scheme would under the Integrated Sanitation, Hygiene, nutrition Education (ISHINE) programme expand its intervention to the SILC communities and other areas including Talensi, Nabdam, Kassena Nankana Districts and in the Northern Region in Nakpanduri, Gambaga among others. Madam Constance Aduko, 52, a trader with the Alangtaaba women group who took home over GH¢ 3,000 was grateful for the programme. The annual durbar was witnessed with pomp and pageantry as the women anticipated their share of savings as savings boxes were opened. India Africa Connect mONDAY | JUly 14, 2014
  • 12. ENCOUNTER WITH EDITOR12 What are the strategies being addressed by government to achieve goals of Vision 2016? What developments have been witnessed till date in the same? The Vision 2016 Council, a high level institutional mechanism was established to monitor, evaluate and report progress on implementation of the Vision. The Council which is non-partisan is answerable to the nation. Its mandate includes amongst others; » To generate sustained ownership of the Vision by all stakeholders, and a consensus on national directions and strategies; » To harmonise and promote co-operation between various sectoral objectives, and bring them within the larger national interest; » To monitor the implementation of National Development Plans as vehicles of the Vision. » In order for the aspirations of Vision 2016 to be realized, the government of Botswana made a deliberate move to fully anchor Vision 2016 in its National Development Plan 10. In addition, increasing the plan from the 5 year cycle to 7 years so that it coincides with the year 2016, when Botswana will be celebrating 50 years of independence. » To ensure that implementation is holistic, it is cascaded to the districts through the District Development Plans. » Publicity of the Vision has enabled us Botswana’s economy remains one of Africa’s success stories, having renovated itself within three decades. Comprehensive macroeconomic policies, good governance, well-functioning institutions and sensible management of resources are the trademarks of Botswana’s extraordinary economic performance. In an exclusive interview to INDO AFRICA TIMES the Hon President of Botswana, H.E. Mr. Ian Khama very precisely expounded the fine points of the country on topics concerning investment, sectoral profile and in particular the extraordinary relations existing between Botswana and India. 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 “Sustainable development is my government’s priority” H.E. Mr. Ian Khama President, Botswana  to achieve 93% awareness level of the aspirations of the Vision, countrywide. Botswana is known for its tremendous beauty and business potential. How are you prioritizing your role for the development of the country and its people? Indeed Botswana is endowed with a wealth of natural capital, be it fauna and flora or mineral resources. The challenge lies in the sustainable exploitation of these resources in order to benefit future generations. Sustainable development is my government’s priority. It is in this regard that my government has set aside approximately 49% of the total land area for conservation purposes. Tourism has been identified as a key sector for economic diversification. The tourist product is predominantly wildlife based, hence the need to ensure that the resource is utilized in a manner that will guarantee its availability for decades to come. In order to back our commitment to sound conservation practices, my government has imposed a ban on trophy hunting in Botswana. Hunting safaris are therefore no longer permissible and there has been a shift towards the more non-consumptive forms of tourism namely photographic safaris. How do you amalgamate your efforts, strategies with available resources of Botswana to make it an attractive destination for Foreign Direct Investment (FDI)? Botswana is uniquely endowed with vast resources and we have invested in creating a globally competitive policy framework for the extractive industry, which can be instrumental in supporting a beneficiation and value addition agenda. We have the opportunity to attract investments into a series of activities that create entire Eco-systems around the full value chains of the extractive sector. We have started the implementation of this strategy in earnest within the diamond sector but similar opportunities still exist with respect to other minerals viz copper, nickel, soda ash and most importantly coal. Some of the characteristics that make Botswana unique are; » Botswana is stable, peaceful, and transparent » Botswana is committed to a sound macroeconomic policy, economic freedom and has a steady and dramatic growth rate » Botswana opens the door to a massive market » The quality of Botswana’s workforce is second to none in Africa » The Government of Botswana wants to make your investment work for investors » Botswana is committed to continued growth » Botswana is rich in natural resources. Excellency, being the pillar and an eminent representative for Botswana, what is your blueprint to attract investors and boost various sectors for economic growth? Botswana’s investment promotion efforts drive targeted investments by leveraging on Botswana’s competitive and comparative advantages. Botswana strives to hone on its value, offering to make best use of its own comparative strengths. Botswana is therefore going to ensure that we have a conducive business environment for investment to thrive in and it is through BITC that a Business Facilitation Centre was created as aforestated. Our approach also puts emphasis on local investment or participation to ensure that Batswana are developed and play a role in our country’s economic growth and prosperity. We have put in place concerted efforts to consider already existing local companies that are active in the market to support and nurture their existing investment. We have also placed aftercare services at high value for investors as it is essential that they are supported and encouraged to grow their businesses further. Furthermore, please note that to facilitate Foreign Direct Investment (FDI), we have formed six (6) hubs to underline our key areas of focus in this regard; namely, Diamond, Health, Innovation, Education, Transport as well as Agriculture. MONDAY | JUly 14, 2014