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Designed for professionals that partner with or have responsibility for the sourcing and management of an organization's travel program, the ACTE Global Corporate Travel Conference Canada 
continue to be the region's education and networking event for the corporate travel community.
In 2015 the conference returns to Montreal - the location of the first ACTE Canada conference - to celebrate a decade of industry learning, networking and leadership.
Plus,  discover what it's all about at the ACTE Global Corporate Travel Conference in Hong Kong

Infrastructure : Africa50, a step change for infrastructure financing and development in Africa

Africa50, the new and innovative infrastructure investment platform promoted by the African Development Bank (AfDB) held its Constitutive General Assembly on the 29th of July 2015 in Casablanca, Morocco. Twenty (20) African countries and the AfDB have subscribed for an initial aggregate amount of USD 830 million in share capital. 

These founding African countries are Benin, Cameroon, Congo, Djibouti, Egypt, Gabon, Ghana, Côte d’Ivoire, Madagascar, Malawi, Mali, Mauritania, Morocco, Nigeria, Niger, Senegal, Sierra Leone, Sudan, The Gambia and Togo. While this first closing was available only to African countries, it is anticipated that the second and subsequent closings will be available not only to African countries that are yet to invest in Africa50, but also non-sovereign investors both in Africa and outside Africa. The second closing is expected before the end of 2015. 

Speaking at this historic event, Donald Kaberuka, President of AfDB and current Chairman of the Boards of Directors of Africa50, said “the large presence of African States and their financial commitments are a testimony to a shared vision to find new ways to accelerate the provision of infrastructure.  Africa50 will be a step change for infrastructure financing and development in Africa". 

Africa50’s raison d’être is to mobilize long-term savings within and outside Africa for the financing of commercially viable infrastructure projects across Africa. Through an integrated approach, Africa50 will invest in African infrastructure projects at scale along the entire project finance value chain leveraging its innovative Project Finance and Project Development windows. 

The strong expression of commitment by the African countries is a necessary first step towards attracting institutional investors, including sovereign wealth funds, pension funds, insurance companies and other sources of long-term finance around the world. Africa50’s medium term capitalization is projected to reach USD 3 billion. 

During the Constitutive General Meeting, Africa50’s founding members signed the articles of incorporation, which enshrine the highest standards of corporate governance. Africa50 is headquartered in Casablanca, Morocco. A headquarters agreement was signed with the Kingdom of Morocco that confers upon Africa50 a range of privileges and immunities similar to those enjoyed by the African Development Bank. Other decisions taken at the meeting included the appointments of the members of the Boards of Directors of the Project Finance and Project Development vehicles and also the appointment of KPMG as external auditors. 

The Minister of Finance of Morocco, Mohamed Boussaid, stated that Africa50 is an idea whose time has come and that the Constitutive General Assembly is an important first step towards making it a reality. 

The newly elected Boards of Directors met after the Constitutive General Assembly and has launched the recruitment of the Chief Executive Officer of Africa50 through an international competitive selection process. In the meantime, the Board has appointed  Alassane Ba as the acting Chief Executive Officer, as part of measures to immediately operationalize Africa50. Africa50 expects to start developing and financing projects before the end of 2015. 

About Africa50: Africa50 is an innovative vehicle promoted by the African Development Bank and designed to help accelerate infrastructure development in Africa. Africa50 has two main operating windows: Project Financing and Project Development. Both are incorporated in Casablanca, Morocco and enjoy certain privileges and immunities. While adopting a strong public private sector approach in the development of its business, Africa50 is founded on the highest of corporate governance, ethical, financial, environmental and social responsibility frameworks. For more information please visit: www.africa50.org

Editions: Africa North - Africa South - Africa East - Africa West - Africa Central


MF Managing Director Christine Lagarde greeted by Mozambique's Finance Minister Manuel Chang at the Maputo International Airport in Maputo.

Meeting in Maputo on May 29-30, 2014, Finance Ministers and Governors from sub-Saharan Africa and the IMF took stock of sub-Saharan Africa's impressive achievements over the past two decades, its increased resilience to shocks and economic policy challenges for sustaining growth and development.An increasing number of countries in sub-Saharan Africa have registered strong economic performance, reflecting skillful macroeconomic policymaking, stronger institutions, increased aid, and higher investment in both human and physical capital.But in many countries, the benefits of this growth are not well-shared, there remain wide infrastructure gaps, and job creation falls short of expectations.The drive towards structural transformation and diversification, combined with a young, dynamic population, offers an opportunity to accelerate progress with poverty reduction, inclusive growth and job creation.African Ministers and Governors and the IMF Managing Director agreed to further strengthen the partnership between the Fund and its African membership and respond to the evolving needs of the sub-continent.Policy dialogue and capacity building will reflect the ambitious agenda aimed at: upholding macroeconomic stability with policy actions designed to foster structural transformation and sustain strong and inclusive growth; overcoming fragility; ensuring adequate financing for Africa's development; and building institutional capacity, including in human resources.The engagement will take into account the different needs of the African membership, ranging from countries facing challenges of fragility and conflict, to middle-income and emerging market economies.African Ministers and Governors and the IMF Managing Director shared the imperative of addressing Africa's large infrastructure gap. Financing Africa's infrastructure development will require innovative approaches, involving both the public and private sectors.The ongoing reform of the IMF debt limits policy should seek to provide countries with enhanced flexibility in program design to utilize a wider range of financing options while preserving hard-won debt sustainability, which has served the continent well in the face of the global financial turbulence of recent years.African Ministers and Governors and the IMF Managing Director agreed to follow up during the Annual and Spring Meetings to take stock of progress towards the objectives and commitments reflected in the Maputo Joint Declaration.

Fostering inclusive growth and structural transformation

To ensure that future economic growth is inclusive, policies need to aim at job creation and diversification. Progress in economic and social indicators has often been accompanied by widening income inequality and has not generated sufficient employment opportunities for the young and growing population.Laying the ground for the region's meaningful structural transformation requires policy actions on two main fronts. The first is the creation of an enabling environment for a vibrant private sector to generate jobs and sustain growth, which includes the development of deeper financial markets and profitable investment opportunities.The second is continued public investment in growth-enhancing infrastructure, most notably in transport and energy, while being mindful of debt sustainability considerations. Both will require building capacity and institutions, investing in human capital development and strengthening public sector efficiency.

We're proud of our Magazine's Global Reach!
Global Reach is a business initiative to increase the access between a company and their current and potential customers through the use of the Internet. The Internet allows the company to market themselves and attract new customers to their website where they can provide product information and better customer service. Customers can place orders electronically, therefore reducing expensive long distant phone calls and postage costs of placing orders, while saving time on behalf of the customer and company. A company striving to obtain Global Reach should provide a code of ethics, a company purchasing policy, additional contact information, adequate product information and price. The website itself should be multi-lingual, easy-to-use, and have the ability to secure customer information. Example

And equally proud of the following testimonials!

One More Thing You Can Do to Get More Business.
By: Maurice A. Ramirez, Details

Business Commentary:
Dangers of Being too Social.. Evaluation of Social Web Services
Micro-Finance Company in Kenya.
Advice from a self made man whoretired in his thirties . Go
Outstanding Financial Book on Africa by David Fick Go
Business Focus on Africa and Dubai Go
Prime Ethiopian Business Link Go
UAR Interact Magazine . Go
Mozambique Project Go
Dubai World Partnership Go
South Africa Joint Project . Go
Wall Street Journal on Africa Go
The Africa you seldom see . Go
Africa's Green Revolution . Go
Benefits of the International Executive Service Corps Go

Africa Business Quiz
Tourism development in Africa? Go
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How do we protect against scams? . Go
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Sample E-Commerce Site
What is a Shopsite?

Keys to Africa Travel Magazine's Circulation
Associations, Trade Shows and Partnership Marketing: Go
Great Cities of Africa . UN World Urban Forum

Opportunities in Africa: Recently in a half hour interview with Mr. Africa, Ogo Sow on his popular radio program, I had an opportunity to recommend the following book by David Fick, which is one of the most outstanding publications in our library archives. We take every opportunity to let our readers and radio audiences know about it and how to order their personal copy. Mr. Sow's broadcasts appear on the following website www.afrikmedia.com

Eco Solar Car Crosses Continent for $ 9.22
Using only as much electricity as it would take to illuminate a 100-watt light bulb for four days, a group of Queen's University students set a new world record for the longest distance traveled in a solar-powered car. The group's 30-day trip, which began in Halifax on Canada day, ended on the weekend when the streamlined, spaceship-like vehicle cruised into downtown Vancouver. More->

Angola Admitted as an Opec member
Angola Press Agency (Angola). Angola was admitted Thursday as a full right member of the Organisation of Petroleum Exporting Countries (OPEC), during the organisation's 143rd extraordinary conference taking place in Abuja, Nigeria. The country is represented at the meeting by a delegation headed by the Oil minister, Desidério Costa, and includes senior officials of the sector. Speaking recently on the country's adhesion to the oil organisation, Desidério Costa said this permits that Angola, as producing country, is not left isolated from the world. He also said that the price policies do not depend on the country's being or not being part of the organisation. "There is a policy established by the organisation and the other countries, both affiliated and non-affiliated, just have to respect it," he said. With a current production of 1.4 million barrels a day, Angola is the second major oil producer in Africa south of Sahara, after Nigeria, with representatives of the sector expecting to reach two million a day in 2007, thanks to the exploration of new wells. The maritime zone, along the Angolan coast is devided into 74 exploration blocks in shallow, deep and ultradeep waters. Of these, only about 30 are currently in operation. The country's oil reserves are estimated at 12,5 billion barrels. In 2005, Angolan oil sector responded for 90 percent of the exports and half the country's Gross Domestic Product and is responsible for 80 percent of the fiscal revenues. In addition to Angola, OPEC groups Algeria, Saudi Arabia, United Arab Emirates, Iraq, Iran, Libya, Indonesia, Nigeria, Venezuela, Kuwait and Qatar.

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Africa: Continent of Economic Opportunity
The above book cover art is a reproduction of an original batik painting titled "African Connection" by Nuwa Nnyanzi of Uganda
(www.nnyanziart.com) Africa: Continent of Economic Opportunity features numerous successful entrepreneurs and enterprises creating jobs. Continued

African Growth and Opportunity Act
"In just four years, the African Growth and Opportunity Act has shown the power of free markets to improve the lives of people in both the United States and Africa. By reducing barriers to trade, this law has increased export, created jobs, and expanded opportunity for Africans and Americans alike. It has given American businesses greater confidence to invest in Africa, and encouraged African nations to reform their economies and governments to take advantage of the opportunities that AGOA provides." President George W. Bush. Full story

Seed Capital for Investment in an African Tourism Project?
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Africa Travel Magazine Financial Contacts Database Enhances Circulation. To get your company name on this database mailto:africa@dowco.com

COMPLIMENTARY COPIES OF AFRICA TRAVEL MAGAZINE FOR EXPOS AND FORUMS. Exhibitor pays for freight only. mailto:africa@dowco.com

More Investment Information Online

Download this comprehensive report. Please allow a few minutes.

New Book by Dave Fick

Excerpt from a speech by H. E. Yoweri K. Museveni , President of Uganda, http://www.museveni.co.ug "The problem, however, comes when "encouraging" the national middle class can only be done through excessive external borrowing. This increases the country's indebtedness unnecessarily because GDP can be enhanced through another very important and debt-free way, that is foreign investment or, in the case of Uganda, domestic investment by the non-African element of the middle class." (the Asians)

New Style BUSINESS DIRECTORY Ad Listing Format Now Available to Advertisers. mailto:africa@dowco.com . See Directory

Resource List: Banking Contacts in South Africa. Check this website

News Release
The Case For Remaining A Private Company: Give Me Liberty or Give Me an…IPO?
By Steve Kayser. One of the most celebrated events in American business is the initial public offering (IPO). Many see it as a transforming event that ensures a company's long-term survival, signifies an arrival into the business big leagues, and creates wealth - sometimes almost unbelievable wealth.  Currently, in the U.S., there are approximately 17,000 public companies.  So, why would a company actually choose to remain a private company?

Believe it or not, there are many good reasons not to go public, and I offer for consideration some real-world insights that may cause you to reconsider, or at least pause.  Many people question whether or not a private company can actually compete against a public company.

We have been doing it for decades.  Our company, Cincom Systems, is a privately held software company that was founded in 1968. We have thousands of customers on six continents and specialize in providing software, services, and hosting to simplify the management of complex business processes. Cincom employs over 1,100 people worldwide and competes with companies like Oracle, SAP, Siebel, and others.

Cincom has generated over $3.5 billion in sales and achieved 20 straight years of producing over $100 million in revenue - a feat matched only by one other software publisher in the world, Microsoft.  Throughout our 37 years, we have steadfastly remained a private company. We've never accepted any form of financing from venture capitalists or other equity investors. Throughout the history of the company, all of our financing has been through cash flow and when necessary, debt financing through banks.

This never hurt us when competing against our well-branded and publicly funded competitors in the industry.  In fact, it helped us to develop innovative, flexible, and adaptive ways of thinking along with well-honed and passionately articulated value propositions.  We have continued to pioneer software innovation in our rapidly changing business environment.  Surrounded by well-financed competitors, Cincom has an impressive list of "firsts" in the software industry.  In 1984, President Ronald Reagan hailed Cincom as "the epitome of the entrepreneurial spirit of American business," and we're recognized by the prestigious Smithsonian Institute as one of "the pioneers and builders" of the software industry.

When compiling reasons not to go public, one stands out above all the others:  freedom.  Remaining a private company gives us the freedom to make decisions based on the needs of our clients, not the demands of the shareholders.  It helps us to make bold business decisions and to create innovation by acting on these bold decisions.  We are free from excessive regulatory burdens and free to adjust to changes in the business environment as we see fit.  By avoiding the lure of public financing, we are free to control our own destiny.

Another clear advantage of remaining a private company is that it is much easier to create a unique corporate culture. If you value loyalty, a fair balance between work and family, and community involvement, then you are free as a private company to promote and reward these values.  At Cincom, we have created a unique, family-oriented atmosphere that encourages openness and a sense of ownership in the organization we call the "Cincommunity."   For this reason, we have attracted an incredibly loyal and committed team, with very low turnover. At the senior-management level, it is not unusual to have 25 years of tenure with Cincom.

Additionally, our customers remain astoundingly loyal because we base our decisions on customer rather than shareholder needs. Ultimately, what has made Cincom successful is being a customer-driven organization. As a result, we have an extremely high average tenure among our clients, some as long as 30 years. 

For almost 40 years, we have shown that it is possible to run with "the big boys" as a private company, and we will continue to innovate the software business for decades to come.  For now, it is clear that an IPO is a "no-go" for us. For more information or to set up an interview with Steve Kayser for a story, please contact Jay Wilke at 727-443-7115, ext. 223

For more information on Cincom please see www.cincom.com jayw@event-management.com.

About Cincom: Privately held Cincom Systems sells both strategic enterprise software products and support capabilities for clients looking to develop applications internally. The company competes directly with global giants like Oracle and SAP by offering comparable products at a fraction of the cost and deployment time. To help clients consolidate their vendor channels, the company now offers hosting, outsourcing, and other IT services, again at a lower price. The company's sales network was built around marketing partnerships, and new relationships are continually pursued. Asia is viewed as a key growth market. ROIC has averaged 80% over the last decade while earnings have grown 700% in five years. Management is seeking expansion opportunities.

Jay Wilke, Event Management Services, Inc.

1127 Grove Street, Clearwater, FL. 33755

727-443-7115 ext. 223




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