Vulnerabilities in the public procurement process for Nigerian National Petroleum Corporation (NNPC) are being exposed in a recent bid. The public procurement process in Nigeria forbids any form of insider dealing or exploiting information that is not made public. However, a recent bid for slop oil seems to indicate that two of the three bidders…
The Ebola outbreak in West Africa is causing havoc on the world’s economy, but the agricultural industry is seeing one of the biggest hits. West Africa accounts for 70 percent of the world’s cocoa production, and many fear that Ebola will make imports from West Africa more difficult, especially if the disease spirals further out…
The South African manufacturing sector is on the decline following a continuing five-month mining and metal materials strike. The walkout had impacted the profits of several major companies, including General Motors Co. (GE). Significant financial strain has also led Impala Platinum Holdings Ltd. (IMP) to report its lowest earnings in over a year.
The ongoing Ebola epidemic in West Africa has brought on a global call for action. The message is being sent directly to pharma manufacturers. The issue remains: Currently, there is no medicine or vaccine that’s registered, let alone approved, to treat the deadly disease.
According to the Wall Street Journal, “Coca-Cola Co. said it plans to spend more than $5 billion in Africa over the next six years, lifting the U.S. beverage giant’s proposed investments in Africa to $17 billion for 2010 to 2020. The Atlanta-based company also signed a preliminary agreement to launch an initiative — called Source…
Seven percent of South Africa’s economy will soon stall along with the temporary closing of the country’s Ford Motor Co. and Toyota Motor Corp. production plants. The halt in manufacturing is due to a now three-week metalworkers strike that began in early July.
According to a recent report by Reuters, “Drugmaker GlaxoSmithKline plans to invest up to 130 million pounds ($216 million) in Africa over the next five years as chronic diseases become more common among the continent’s swelling urban middle classes.”
Economists are trying to understand how Egypt’s economy is remaining so stable, even as the death toll from recent violence surpassed the 1,000 mark in six days. The violence began June 30 after the ousting of Islam President Mohamed Mursi, a member of the Muslim Brotherhood. The new military government is struggling to keep industries…
Corruption and lack of transparency are global concerns in public procurement. Emerging markets often face the biggest struggles when it comes to fighting corruption. Some nations are forming watchdog groups to encourage whistleblowers to stand up against corrupt practices, such as Tanzania. In South Africa, however, whistleblowers need protection, not encouragement.
Transparency in public sector procurement is a challenge around the world. Legislation is in place in many countries to encourage responsible government spending on public services. In some places, private coalitions are forming to make sure that these laws are upheld. Most recently, Tanzania Contract Monitoring Coalition (TCMC) launched in Dar es Salaam, Tanzania, Africa.