Long story short, it's not news that everyone in the world believes that Africa is virgin territory and currently has the most potential for businessmen and women to perform business. Everyone talks of how much our population provides a ready market for goods and services or how we have all the natural resources in the world and will probably not need to go look outside of the continent or about how we are the richest continent on earth but have the poorest people.
The fact is that investors need for their investments to be protected. That protection comes from the courts, from security and also from cultural acceptance. Neither of these are guaranteed in Cameroon. If you think the guys who top the forbes lists in terms of investments don't look at Africa as a potential place of business then you're dead wrong. However, most of these guys don't bet their money on investments in Africa. You know why? Because neither of these things is guaranteed. If it's not good for Bill Gates, why would one think that Anye or Fru or Ojong will dare bet his money on investment in Africa. Just because Anye, Fru or Ojong hail from Africa doesn't mean they need to make unwise business decisions.
Take Herakles for instance. See how much flak that company is getting. Cultural conservatives won't let that business take off in Cameroon. If we had the Uniform Commercial Code in Cameroon, this Herakles matter would have been resolved a long time ago in favor of Herakles. And this is what some countries such as Dubai have done. Dubai's commercial district has business laws different from the traditional islamic trade practices. Their commercial law is a xerox of the U.S. Uniform Commerical Code, which is also not that different from business laws in the UK. Dubai is not the only country that has copied U.S. style commerical norms. South Korea did a similar thing. The initial judges in this Dubai commerical district were all foreign (mostly retired British or American judges). Dubai natives are getting training in the law, some of them studying in the U.S. and returning home to occupy judgship position.
In Africa, South Africa comes closest to a place an investor would have confidence in the system's safeguard of his investment.
On Tuesday, October 1, 2013 10:40:20 AM UTC-4, Walter wrote:
-- The fact is that investors need for their investments to be protected. That protection comes from the courts, from security and also from cultural acceptance. Neither of these are guaranteed in Cameroon. If you think the guys who top the forbes lists in terms of investments don't look at Africa as a potential place of business then you're dead wrong. However, most of these guys don't bet their money on investments in Africa. You know why? Because neither of these things is guaranteed. If it's not good for Bill Gates, why would one think that Anye or Fru or Ojong will dare bet his money on investment in Africa. Just because Anye, Fru or Ojong hail from Africa doesn't mean they need to make unwise business decisions.
Take Herakles for instance. See how much flak that company is getting. Cultural conservatives won't let that business take off in Cameroon. If we had the Uniform Commercial Code in Cameroon, this Herakles matter would have been resolved a long time ago in favor of Herakles. And this is what some countries such as Dubai have done. Dubai's commercial district has business laws different from the traditional islamic trade practices. Their commercial law is a xerox of the U.S. Uniform Commerical Code, which is also not that different from business laws in the UK. Dubai is not the only country that has copied U.S. style commerical norms. South Korea did a similar thing. The initial judges in this Dubai commerical district were all foreign (mostly retired British or American judges). Dubai natives are getting training in the law, some of them studying in the U.S. and returning home to occupy judgship position.
In Africa, South Africa comes closest to a place an investor would have confidence in the system's safeguard of his investment.
On Tuesday, October 1, 2013 10:40:20 AM UTC-4, Walter wrote:
Mola Fred,
One thing missing in your analysis is the politics of that enclave. After decades in the diaspora how do you adapt with institutions and people who do !not seem to understand what political pluralism is all about.
A well structured political society facilitate economic, human and other development.
Cameroon economy is not designed and structured to generate wealth. Why must one with a free will and education belong to a certain political group to succeed as a business man?equally, why all the games, so members of certain tribes and lineage rule for ever?
I told somebody years ago, that, returning to Cameroon and failing to join the political gang, means you are doomed as a business man he thought I was joking. He sold his properties in in the UK, returned to Cameroon to do business and is not finding it easy. You must lie, steal, bribe, and in some cases even killing to succeed in business. Every other year his capital is dwindling because the economic environment can not be independently, forecast, budget and plan to targets.
You get into contracting, be it in the private or public sector the story is the same. Your capital invested on projects when it is time to get paid all sort of issues are place in front of you. How do you pay your workers and run your family?
Try raising capital from any Cameroonian bank, all sort of impossible conditions would be put to torpedoed your plans, yet, members of the junta are giving hundred of millions without collaterals.
Massa, maybe our children generation would find things differently.
Ndi Nkem
Sent from my iPhone
On 1 Oct 2013, at 13:47, "Fred Kemah" <fred....@hotmail.co.uk> wrote:
> Fellow Cameroonians,
>
> There is consensus that the vast majority of immigrants age 40 and above, who have spent at least 10 years in the West are desperate to go back home. But have not got the means and courage to make the move.The reasons are multifactorial.
>
> If we look at the basic principles governing immigration from developing to developed countries, the bottom line was to cultivate a level of academic and intellectual strength in the West, then, return home with a view to implementing our wealth of knowledge in our respective countries of origin. This was meant to boost growth in every sector of life.
>
> However due to different variables , there is plenty of evidence to support speculations that we have the brightest intellectuals of African origin permanently settling in the West.
>
> Please have a look at those who are governing our countries from directorial to ministerial positions. They are 100% graduates from Western Countries. Therefore, it is clear and evident that some of us settling here on a permanent basis have failed in one way or the other.
>
> I appreciate the fact that there is a good number of us holding unskilled jobs. Surprisingly, these are the ones who 've invested straregically back home.
>
> Now, what are the challenges we face upon our return to Africa? I keep saying safety. We could capillarize safety in financial/economical, medical /healthcare, and public safety which could be subdivided into bad roads, no street lights and energy supplies in the form of shortage of water.
>
> From a sentimental point of view , the most difficult thing to cope with or to come to terms with is the level of DISHONESTY running through the veins of Africans living in Africa. You can't Trust even your first degree relatives.
>
> With certainty DISHONESTY is the real challenge we face prior and during our return home.
>
> Vraiement !! Mobulu.
>
> Mola Fred
>
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