News / Africa

    Forbes Hails Changes in Africa’s Business Environment

    Forbe's Magazine chairman Steve ForbesForbe's Magazine chairman Steve Forbes
    x
    Forbe's Magazine chairman Steve Forbes
    Forbe's Magazine chairman Steve Forbes
    Peter Clottey
    The vice president of Forbes media says the launch of the Forbes Afrique magazine is a sign of better business possibilities in Africa.

    Christopher Forbes said his organization is celebrating free enterprise and the entrepreneurial spirit following the official launch of the Forbes Afrique magazine.

    “We are at a unique moment in time [and] there [are] a lot of exciting things happening in Africa. And also things aren’t going so well in the rest of the world that we can’t keep pointing fingers saying we know best,” Forbes said in Brazzaville.

    “The moment is right for a magazine like Forbes to be launched here, where we celebrate free enterprise and the entrepreneur spirit because we are seeing that emerge in francophone Africa and in fact throughout Africa,” he added.

    He said some African countries are becoming less volatile, which he said is a better environment for business development.

    “There is greater stability here, the rest of the world have realized that we didn’t always get it right doing some of the other things that we’ve done. There are natural resources here, but there is also a change in mindset here,” said Forbes.  

    Some analysts say Forbes Afrique could face stiff competition from other French language magazines with deeper roots in the francophone countries of Africa.

    Forbes magazine has an African English version published in South Africa. But, Forbes said it was appropriate that French-speaking African countries to have a magazine that addresses business aspects in francophone Africa.

    “French speaking Africa needs the capitalist tool as well,” Forbes said.

    Officials of the magazine say Forbes Afrique’s readership will include policy makers and business people and everyone whose ambition drives them to reach positions of responsibility in the business world.

    But Forbes also warned potential investors to make sure they work with reputable businesses in Africa.

    “Choose your partners carefully,” he said. “We are very lucky in our partner Mr. [Lucien] Ebata.  I think that’s a key thing. Get the best advice and get to know people on the ground.”

    “It isn’t [only] that these resources can be useful for the rest of the world, they’ve got to be useful for the people living here [in Africa] as well and being enjoyed by a much broader spectrum of the population.”

    He said Forbes Afrique magazine is in Africa to stay.

    “When my grandfather started the [Forbes] magazine in 1917, his very first editorial was that business isn’t about pilling up millions, it’s about creating happiness,” said Forbes. 

    “As long as this generation of entrepreneurs will increasingly … realize that it’s not just about realizing their visions, but their visions enriching the lives of others;  that is a very important part of real capitalism,” he said.

    Forbes said the business climate is getting better in African countries, which he said is encouraging to local and international partners looking to invest on the continent.

    Clottey interview with Christopher Forbes, VP Forbes media
    Clottey interview with Christopher Forbes, VP Forbes media i
    || 0:00:00
    ...    
     
    X

    You May Like

    Hope Remains for Rio Olympic Games

    Facing a host of problems, Rio prepares for holding the games but experts say some risks, like Zika, may not be as grave as initially thought

    IS Use of Social Media to Recruit, Radicalize Still a Top Threat to US

    Despite military gains against IS in Iraq and Syria, their internet propaganda still commands an audience; US officials see 'the most complex challenge that the federal government and industry face'

    ‘Time Is Now’ to Save Africa’s Animals From Poachers, Activist Says

    During Zimbabwe visit, African Wildlife Foundation President Kaddu Sebunya says poaching hurts Africa as slave trade once did

    This forum has been closed.
    Comment Sorting
    Comments
         
    by: Otherwise
    August 28, 2012 11:39 PM
    Sometimes I really wish businessmen would visit African countries spending some time there and talking to the people, getting a real understanding of what has been happening on the ground and then talk about magazines. The reality of life in Zimbabwe and other countries says otherwise.

    By the Numbers

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Ivorian Chocolate Makers Promote Locally-made Chocolatei
    X
    July 29, 2016 4:02 PM
    Ivory Coast is the world's top producer of cocoa but hardly any of it is processed into chocolate there. Instead, the cocoa is sent abroad to chocolate makers in Europe and elsewhere. This is a general problem throughout Africa – massive exports of raw materials but few finished goods. As Emilie Iob reports from Abidjan, several Ivorian entrepreneurs are working to change that formula - 100 percent Ivorian chocolate bar at a time.
    Video

    Video Ivorian Chocolate Makers Promote Locally-made Chocolate

    Ivory Coast is the world's top producer of cocoa but hardly any of it is processed into chocolate there. Instead, the cocoa is sent abroad to chocolate makers in Europe and elsewhere. This is a general problem throughout Africa – massive exports of raw materials but few finished goods. As Emilie Iob reports from Abidjan, several Ivorian entrepreneurs are working to change that formula - 100 percent Ivorian chocolate bar at a time.
    Video

    Video Tesla Opens Battery-Producing Gigafactory

    Two years after starting to produce electric cars, U.S. car maker Tesla Motors has opened the first part of its huge battery manufacturing plant, which will eventually cover more than a square kilometer. Situated close to Reno, Nevada, the so-called Gigafactory will eventually produce more lithium-ion batteries than were made worldwide in 2013. VOA's George Putic reports.
    Video

    Video Polio-affected Afghan Student Fulfilling Her Dreams in America

    Afghanistan is one of only two countries in the world where children still get infected by polio. The other is Pakistan. Mahbooba Akhtarzada who is from Afghanistan, was disabled by polio, but has managed to overcome the obstacles caused by this crippling disease. VOA's Zheela Nasari caught up with Akhtarzada and brings us this report narrated by Bronwyn Benito.
    Video

    Video Hillary Clinton Promises to Build a 'Better Tomorrow'

    Democratic presidential candidate Hillary Clinton urged voters Thursday not to give in to the politics of fear. She vowed to unite the country and move it forward if elected in November. Clinton formally accepted the Democratic Party's nomination at its national convention in Philadelphia. VOA national correspondent Jim Malone has more.
    Video

    Video Trump Tones Down Praise for Russia

    Republican presidential candidate Donald Trump is toning down his compliments for Russia and Vladimir Putin as such rhetoric got him in trouble recently. After calling on Russia to find 30.000 missing emails from rival Hillary Clinton, Trump told reporters he doesn't know Putin and never called him a great leader, just one who's better than President Barack Obama. Putin has welcomed Trump's overtures, but, as Zlatica Hoke reports, ordinary Russians say they are not putting much faith in Trump.
    Video

    Video Uganda Unveils its First Solar-powered Bus

    A solar-powered bus described by its Ugandan makers as the first in Africa has made its public debut. Kiira Motors' electric bus, Kayoola, displayed recently at a stadium in Uganda's capital. From Kampala, Maurice Magorane filed this report narrated by Salem Solomon.
    Video

    Video Silicon Valley: More Than A Place, It's a Culture

    Silicon Valley is a technology powerhouse and a place that companies such as Google, Facebook and Apple call home. It is a region in northern California that stretches from San Francisco to San Jose. But, more than that, it's known for its startup culture. VOA's Elizabeth Lee went inside one company to find out what it's like to work in a startup.
    Video

    Video Immigrant Delegate Marvels at Democratic Process

    It’s been a bitter and divisive election season – but first time Indian-American delegate Dr. Shashi Gupta headed to the Democratic National Convention with a sense of hope. VOA’s Katherine Gypson followed this immigrant with the love of U.S. politics all the way to Philadelphia.
    Video

    Video Dutch Entrepreneurs Turn Rainwater Into Beer

    June has been recorded as one of the wettest months in more than a century in many parts of Europe. To a group of entrepreneurs in Amsterdam the rain came as a blessing, as they used the extra water to brew beer. Serginho Roosblad has more to the story.
    Video

    Video Commerce Thrives on US-Mexico Border

    At the Democratic Convention in Philadelphia this week, the party’s presumptive presidential nominee, Hillary Clinton, is expected to attack proposals made by her opponent, Republican presidential nominee Donald Trump, to build a wall along the U.S.-Mexico border. Last Friday, President Barack Obama hosted his Mexican counterpart, President Enrique Peña Nieto, to underscore the good relations between the two countries. VOA’s Greg Flakus reports from Tucson.
    Video

    Video Film Helps Save Ethiopian Children Thought to be Cursed

    'Omo Child' looks at effort of African man to stop killings of ‘mingi’ children
    Video

    Video London’s Financial Crown at Risk as Rivals Eye Brexit Opportunities

    By most measures, London rivals New York as the only true global financial center. But Britain’s vote to leave the European Union – so-called ‘Brexit’ – means the city could lose its right to sell services tariff-free across the bloc, risking its position as Europe’s financial headquarters. Already some banks have said they may shift operations to the mainland. Henry Ridgwell reports from London.

    Special Report

    Adrift The Invisible African Diaspora