PROMOTION // EMERGING MARKETS

THE BEST OF AFRICA A REMARKABLE RENAISSANCE

The African continent is a rapidly growing market that is finally beginning to gain traction in the global economy after years

of striving for progress, stability and reform. Leaders, businesses and institu-tions that are making Africa the success story of tomorrow are finally being recog-nized as truly The Best of Africa. These individuals and organizations are trail-blazers, forging a path for the future of not only Africa, but also the world. With the steady improvement of financial mar-kets and the reinforcement of democratic institutions, The Best of Africa is ushering in an unprecedented renaissance for the entire continent.

Africas rise on the global stage is sur-prising to many, and the general public is only now widely acknowledging its importance in their daily lives. The truth, however, is that for generations coffee beans have been sourced from Ethio-pia; cocoa has been exported from the Ivory Coast; and coltan, a vital compo-nent in virtually every electronic device, has been mined from the Democratic Republic of Congo.

As questions linger about stability in the global economic paradigm, the world needs to take a new, keener look at Africa. While the effects of the global recession continue to create challenges for European and American societies, Africa has escaped the troubles of the last few years relatively unscathed. According to the World Bank, Africas overall economic growth rate was mea-sured at 4.9% in 2011, just short of its 5% year-on-year pre-recession growth rate. Excluding South Africa, economic growth for the rest of the African con-tinent was 5.9%, making it one of the fastest-growing developing regions in the world. In a recent Goldman Sachs analyst research report touting the African growth story, the firm likened Africas exceptionally robust growth today to that of China and East Asia in the early 1990s.

Typically known for its immense deposits of natural resources, Africa boasts ample supplies of hydrocarbon resources, minerals and metals that are necessary for industries around the world. But perhaps more important than

these resources is Africas emerging middle class. Often seen as the driver of future growth, it holds the greatest untapped potential for investors.

According to the McKinsey Global Insti-tute, the number of African households with discretionary income is projected to increase 50% over the next decade, reaching 128 million. By 2030, the conti-nents top 18 cities are projected to have a combined spending power of $1.3 trillion.

In addition to vast economic progress, social and political reforms throughout the continent have signaled a new era in Africa. The role of women leaders, for example, has improved tremendously as Nkosazana Dlamini-Zuma, the recently elected chairperson of the African Union, Liberian President Ellen Johnson Sirleaf and Malawian President Joyce Banda step onto the global stage.

Join us in exploring the African conti-nent and experience The Best of Africa from an insiders perspective. From business leaders to political institutions, a new Africaready for investments and trade and armed with the courage to succeedis truly emerging.

BY PAUL TRUSTFULL

PROMOTION 2 // THE BEST OF AFRICA

THE PATH TO PROSPERITY A GUIDELINE FOR DEVELOPMENT

FROM THE REPUBLIC OF THE CONGO

The Republic of the Congo, a regional powerhouse in Cen-tral Africa, has continued its path toward progress and eco-

nomic prosperity under the leadership of President Denis Sassou-Nguesso in the years following his 2002 reelec-tion. Rising from the ashes of a civil war that ravaged the Republic of the Congo from 1992 to 1999, a new Congo, focused on reestablishing its economy and building peace throughout Africa, has arrived.

In a new era of major institutional changes, a complete overhaul of infrastructure and a full restoration of democracy, the changes led by Presi-dent Sassou-Nguesso serve as an inspiration to the people of Africa. From an increase in telecommunications to the creation of special economic zones and even a world-class international air-port, the improvements made to Congo illustrate the true meaning of developing from within.

The Republic of the Congo has all the

ingredients to become one of the princi-pal driving forces of the Central African region. Endowed with exceptional natu-ral resources, a strong young workforce and a rapidly growing infrastructure, the Republic of the Congo has a great deal to offer investors and multinational corporations seeking an entrance to the African continent.

From a Troubled Past To a Bright FutureSoon after the inauguration of President

President of the Republic of the Congo Denis Sassou-Nguesso,Lucien Ebata (of Orion Oil and Forbes Afrique) and President of the Central African Republic Franois Boziz Yangouvonda

THE BEST OF AFRICA // PROMOTION 3

Pascal Lissouba in 1992, the Republic of the Congo entered a harrowing cycle of violence, which erupted into a full-fledged civil war in 1997 and ultimately ended in 1999.

At the end of one of the dark moments for his country, Denis Sassou-Nguesso worked to re-store hope for the 3.5 million citizens of Congo and to revive the confidence of the interna-tional community and business leaders. President Sassou-Nguesso first engaged in regional dialogues, and then established structures to thaw the relations between the warring factions of his country.

All of these steps culminated in democratic elections just three years after the dtente in 1999. A new constitution was adopted by referendum in January 2002, and Denis Sassou-Nguesso was elected to a seven-year mandate in a democratic election in which a vast majority of the Congos population voted.

Denis Sassou-Nguesso: The Leader of a New AfricaBorn in 1943 in the town of Odou in what was then French Equatorial Africa, Denis Sassou-Nguesso excelled in school and caught the attention of one of his teachers, who suggested he enroll in the Joint School of Reserve Officers. After military training in Algeria and France, he returned to Congo in 1964 and joined the newly independent Congolese army as a lieutenant.

After being promoted to Colonel General of the Congolese Army, he participated in a movement with other individuals that led to the creation of the Congolese Labor Party (PCT). He was elected to the post of President of the Central Committee of PCT, and then became the President of the Republic of the Congo when his party held the major-ity in the Third Extraordinary Congress.

President Sassou-Nguesso worked for change throughout his tenure, including the creation of a multiparty democracy in 1990, but was not reelected in the elections of 1992. During the course of the Congolese Civil War, which lasted from 1992 to 1999, he helped cre-

ate a constitutional framework in 1997 to reconcile the Congo-lese people and usher in an era of durable peace and security.

President Sassou-Nguesso was elected to a seven-year term in March 2002, when he sought a path to bring peace and rec-

onciliation throughout Africa. In 2003, he called for a pan-African doctrine for peace and camaraderie during the African Union meeting in Maputo, Mozambique, which helped establish independent guidelines for reinforc-ing principles of conflict prevention and integrating African economies as the primary driver of peace. In 2006,

Sassou-Nguesso was elected to pre-side over the African Union and lead Africa to its next stage in development.

President Sassou-Nguessos Commitment to a New Hope For CongoAfter his electoral victory in 2002, Presi-dent Sassou-Nguesso promised the citizens of the Republic of the Congo a series of drastic changes that would not only help the country itself evolve, but also alter how the rest of the world perceives it.

President Sassou-Nguesso outlined his plan of action in the early phase of his most recent term in a program known as the New Hope project. He aimed to achieve sustainable growth, promote a dynamic environment and ensure that every Congolese citizen is safe and has access to social welfare and justice. He says that the plan looks beyond just economic prosperity for the next few years; rather, it is an important step toward preparing for a common future while establishing unity and con-cord among all.

The Republic of the Congo has all the ingredients to become one of the principal driving forces of the Central African region.

President Sassou-Nguesso with schoolchildren

PROMOTION 4 // THE BEST OF AFRICA

One of the main pillars of the New Hope project calls for providing peace, security and stability by renovating the public administration, strengthening its capacity and promoting good gover-nance from within. Only by guaranteeing fundamental freedoms and human rights to all citizens can a democracy func-tion. In recognition of this fact, President Sassou-Nguesso calls for establishing a transparent rule of law that protects indi-vidual citizens and promotes ethical and moral values that could induce profound changes in society.

Many of these freedoms are the basis of a capitalistic economic environ-ment, widely recognized as the most important factor in developing a nation and lifting it to prosperity. President Sassou-Nguesso fully embraces a market-based economy as the means to change the direction of the Repub-lic of the Congo, and has worked to redistribute the balance between the state and private businesses to create a

better environment for investment activ-ities. By allowing businesses to thrive and investors to freely employ capital, the Republic of the Congo has seen unprecedented job creation and develop-ment of businesses through the process of globalization.

By working to im-prove the agriculture, mining, industrial and tourism industries, President Sassou-Nguesso sees a new era of progress for the country as foreign capita l works with local human capital to develop the nation. Special economic zones, a relatively new concept, have been created in Brazzaville, Pointe-Noire and Ouesso to attract investors and provide incen-tives that will draw in foreign capital to

develop the country. Another p i l la r under Pres ident

Sassou-Nguessos plan includes devel-oping a countrywide infrastructure

system that can serve as a foundation for growth. By linking the entire country with an improved road net-work, modernizing the railway infrastruc-ture and continuing to expand the dredging work of Pointe-Noire, the deepwater port in the Gulf of Guinea, the Republic of the Congo aims to make prosperity an attain-able goal.

President Sassou-Nguesso already oversaw the construction of Maya-Maya Airport in the capital of Congo, Brazza-ville, which links the world to Congo via a state-of-the-art airport that possesses

Special economic zones, a relatively new concept, have been created in Brazzaville, Pointe-Noire and Ouesso to attract investors and provide incentives to draw in foreign capital to develop the country.

President Sassou-Nguesso (third from left) at a construction project

THE BEST OF AFRICA // PROMOTION 5

all the modern features of major interna-tional airports. In his plan to improve the countrys infrastructure, President Sas-sou-Nguesso has taken a deep interest in embracing technology to further the welfare of the Congolese people. He recognizes the importance of improving the technology and communications infrastructure, and the international community has widely lauded his calls for opening up the nation to new and cost-effective methods of telecommu-nication as a step in the right direction.

Signaling the Future of AfricaThe Republic of the Congo has had an illustrious history, from both a posi-tive and a negative perspective. From its days serving as the capital of Free France during World War II, to the dev-astating civil war that caused irreparable loss of life and damage to the nation, the Republic of the Congo has seen the best and worst of humanity.

The nations forward-looking elected leaders have brought the country to a new eraone that offers a promising fu tu re no t on l y for the country it-self, but also for the surrounding region. By capi-talizing on natural resources to de-velop infrastructure for bui ld ing the country, Congo has experienced im-pressive economic growth and suc-cess. The Republic of the Congo is par tner ing wi th multinational orga-nizations such as Total and Royal Dutch Shell to make the most of its hydrocar-bon wealth and provide the greatest return on investment to its citizens, who are its most important stakeholders.

Progress in sub-Saharan Africa is measured not only by economic growth (which Congo has seen in high single

d ig i t s ove r t he past few years), but a lso by the rise of its people and the protec-tion of their rights. As one of the truly functioning democ-racies of the region, Congo recent ly held parliamentary elections as per its constitution under the watchful eyes of in ternat iona l observers repre-senting both the

European and African Unions. These initial victories show that any-

thing is possible in the continent with strong leadership, courage and a will-ingness to usher in change.

President Sassou-Nguesso fully embraces a market-based economy as the means to change the direc-tion of the Republic of the Congo, and has worked to redistribute the balance between the state and private businesses to create a better environment for investment activities.

President Denis Sassou-Nguesso and former U.S. President George W. Bush

PROMOTION 6 // THE BEST OF AFRICA

BRINGING PROSPERITY TO AFRICA THROUGH PRIVATE ENTERPRISE

A LOOK AT LUCIEN EBATA AND ORION OIL

For Lucien Ebata, the head of Orion Oil, a leading Africa-based oil trading firm, every day presents a new opportu-

nity to develop the continent and create prosperity through capitalism. As the leader of a diversified organization, Ebata oversees the oil business as well as subsidiaries that include a media arm, a private aviation firm and a construc-tion business. Each of these segments strives to set a mandate for success and

to advance Africas business interests around the world.

Fast Track to SuccessFounded in 2004 by Lucien Ebata, Orion Oils original mission was the physical trading of crude oil and refined products between refineries and end users. After trying to gain access to Angolas market, Ebata achieved his first major success in 2006 after signing a deal with Glen-core that landed him a letter of credit, a

fundamental necessity in the world of physical trading.

From that point onward, Orion Oil achieved tremendous success. In the years that followed, the company, reg-istered in the United Kingdom, created offices in Abidjan, Brazzaville, Geneva and Kinshasa. Orion Oil now has gross revenues above $1.1 billion and is a leader in the marketing and transport of crude and refined products, particu-larly diesel, jet fuel and petrol, along the

At the Forbes Afrique launch, from left to right: Christopher Kip Forbes, vice chairman, Forbes Media LLC; Jean-Pierre Raffarin, former French prime minister; Lucien Ebata; Andrew Young, former UN ambassador; and William Daley, former chief of staff to U.S. President Obama

THE BEST OF AFRICA // PROMOTION 7

West African coast from Senegal down to South Africa.

Lucien Ebata recognizes private enter-prise as the true growth engine of Africa. He admires leaders such as Donald Trump, Aliko Dangote and the Reverend Dr. Martin Luther King, Jr., and pursues entrepreneurship while still seeking to better the world around him by engaging in social causes.

Ebata wants to increase his companys level of corporate social responsibility and set an example for other businesses and individuals to do the same. To achieve these goals, he created the Orion Foundation. Since its inception, the Orion Foundation has raised and donated over $10 million to help build schools, erect hospitals, provide college scholarships and help the mentally handicapped throughout Africa. As a leader in the oil industry, Orion Oil is equally a leader in the realm of providing social welfare.

Growth OpportunitiesOrion Oil saw opportunity in the African

market and expanded its original oil business to add several successful sub-sidiaries, including Orion Jet and Forbes Afrique. Orion Jet, currently managed by a third party, fills a much-needed gap in the African private aviation market through its fleet of jets.

Ebata acquired the Forbes franchise in Francophone Africa not only to engage the media market, but also to illustrate to the world how far Africa has come. Forbes Afrique was created to satisfy the growing demands of the business community in Francophone Africa and is distributed in over 23 Francophone countries. Forbes Afrique was launched in Brazzaville, the Republic of the Congo, in the presence of former French leaders Dominique de Villepin and Jean-Pierre Raffarin, in addition to numerous Afri-can businesspeople and heads of state. According to Ebata, Forbes Afrique will redefine the meaning of entrepreneur-ship in Africa.

Ebata hopes that introducing the Forbes brand to a new market will help

fulfill the promise of Africa and develop the growth potential that will drive the continent into the future. In his eyes, the greatest way to help Africa achieve pros-perity and meet its development goals is to create stability and opportunity through economic freedom. By allow-ing private capital to open businesses, hire locals and engage with multination-als, Africa can, through free enterprise, truly grow.

For Lucien Ebata, Forbes Afrique is stamp of success and a symbol of what is yet to come in Africa. As Orion Oil con-tinues to expand its current businesses and seek opportunities in others, it is the innovative minds of leaders such as Ebata that will lead Africa into the future. Saying that he has no plans for a future in politics, Ebata acknowledges that his impact will be much greater in the pri-vate sector in any case. As a leader, both in Africa and around the world, Lucien Ebata has shown an uncanny ability to think creatively and execute ideas to achieve maximum impact.

From left to right: President Ali Bongo Ondimba of Gabon, President Denis Sassou-Nguesso of the Republic of the Congo, President Teodoro Obiang of Equatorial Guinea, and President Franois Boziz Yangouvonda of the Central African Republic

THE BEST OF AFRICA // PROMOTION 9

THE DEMOCRATIC REPUBLIC OF CONGO

FRANCOPHONIE SUMMIT 2012

Q: How important is the summit for the Democratic Republic of Congo?A: The 14th Francophonie Summit in Kinshasa is very important to the Democratic Republic of Congo (DRC). As the largest Francophone country in the world, it was time for us to host the 75 states and their governments that are part of the organization. This is also an op-portunity for our country to open up to the world by inviting friends from every conti-nent to discover the DRCs true face and real potential. We know that sometimes the DRC is misrepresented in the international press, and we want to bring a more posi-tive perspective into the discussion. Whats more, the summit is an invitation to po-tential investors to discover all aspects of the DRC.

Q: What kind of message do you hope to send to the world by hosting the summit in Kinshasa?A: We want to share a message of peace, friendship and brotherhood with people from every continent. Since the DRC has chosen the theme of the sum-mit to be Economic and Environmental Issues Facing Global Governance, we hope that this message will encourage a more genuine rapport among the states, particularly regarding respect for the environment, the development of natural resources and the economy.

Q: What are your expectations for the summit?A: We do not have any special expec-tations beyond those that govern our

International Organization of the Fran-cophonie. We strongly believe in the need to respect diversity in all areas, from differ-ent languages and cultures to gender and age. We also believe in the importance of peace, democracy and human rights, and while there are still a few hiccups here and there, we are determined to move forward. We also believe that proper education and training are important, especially in our country, where the population is predomi-nantly young.

Q: How do you want the worlds perception of the DRC to change?A: The most immediate need is to com-municate better. The DRC is not only a country with immense natural resources and diversity, it is also a country inhabited by men and women who aspire to hap-piness. This is not only a country where there is an accumulation of violence, dis-ease and poverty; it is also a country that has made tremendous progress during the past decade in terms of organization and modernization.

Q: Is this summit an opportunity for you to show the world that the DRC is moving forward?A: Indeed, the DRC is a country on the move. It is a young and dynamic country, as well as a country whose successive crises provided the opportunity not only to rebuild, but also to grow without focusing too much on the burdens of the past.

Q: How do you see the DRC moving into the future?A: I see it as a great nation increasingly aware of its responsibility to become the engine of progress across all of Africa.

DRC President Joseph Kabila Kabange discusses his countrys role as the host of the 14th Francophonie Summit, which will be held in Kinshasa October 1214.

Joseph Kabila Kabange, president of the Democratic Republic of Congo (left), with Professor Isidore Ndaywel, chairman of the national organization committee for the 14th Francophonie Summit

PROMOTION 10 // THE BEST OF AFRICA

This past April, the Democratic Republic of Congo (DRC) Presi-dent Joseph Kabila selected Minister of Finance Augustin

Matata Ponyo Mapon to take the reins as prime minister. Since then, Prime Minis-ter Ponyo has revolutionized governance in this resource-rich country, setting the DRC on a new path to success. By trans-forming the culture of the government, Ponyos tenure is illustrating to the world how good governance can change the perception of Africa.

The changes are being noticed by companies interested in gaining access

to the countrys rapidly growing econ-omy. With a land mass that rivals that of western Europe, the DRC is endowed with an estimated $24 trillion of minerals, including copper, diamonds and coltan. In addition, the DRCs potential as an energy exporter is being developed and marketed throughout the world by Prime Minister Ponyo. The DRCs $80 billion Inga Dams project has the potential to generate 38,000 MW of energy. Its capacity for power production would exceed that of the Three Gorges Dam in China and the Itaipu Dam in Brazil.

International companies in virtually

every sector are becoming interested in business opportunities in the DRC as they recognize a distinct improvement in the countrys business climate under the Kabila-Ponyo administration.

Matata Ponyo Mapons History of SuccessPonyo was born in the Kindu region of the DRC. He was interested in devel-opment economics and governance policies from a young age. He studied economics and international monetary policy at the University of Kinshasa, and later joined the faculty of the University

DRC Prime Minister Augustin Matata Ponyo Mapon

THE DEMOCRATIC REPUBLIC OF CONGO

PRIME MINISTER AUGUSTIN MATATA PONYO MAPON RAISES THE BAR FOR 21ST-CENTURY AFRICAN LEADERSHIP

THE BEST OF AFRICA // PROMOTION 11

of Kinshasa Economics Department. An authority in African monetary and fiscal policies, Ponyo has authored numerous articles on the conditions of hyperin-flation that have plagued Africa over the last decade, as well as on govern-ment deficits and the role of monetary institutions.

He was later discovered by his former professor, Minister of Finance and Bud-get Mbuyamu Ilankir Matungulu, and quickly rose through the ranks to become an economist for the Central Bank of Congo. After successfully working to reform the Congolese national currency, he was asked to lead the Bureau Central de Coordination, which oversees foreign relations under the Ministry of Finance. By this stage of his career, Ponyo was a technocrat well known for the innumer-able positive changes he had helped to effect within the DRC.

He was promoted to Minister of Finance in 2010, and he quickly im-pressed his counterparts around the world with his efficiency and ability to take quick action. In this role Ponyo

was lauded for strategically planning and executing monetary and fiscal pol-icy to reduce the nations large debt, thereby transforming the DRC into a hub for international investment.

In a speech last year to the World Bank Group and the Interna-tional Monetary Fund (IMF) in Washington, D.C., then-Finance Minister Mapon out-lined Africas growth prospects over the short and long term to a group of minis-ters and Central Bank governors.

The future of the DRC could not look brighter, he exclaimed as he reviewed the prospective growth figures for the next few years. Projecting over 7% of real growth in 2012, the DRC will be part of a small African contingent leading the world recovery into the future.

Overall, Ponyo has signif icantly

improved the outlook for the DRCs economy. His policies and initiatives helped cut inflation to around 15% in 2011 from 23.5% in 2010 and 46.2% in 2009. Continued decentralization and privatization also are contributing to a

healthier business cli-mate and potential for higher returns.

Ponyo at tr ibutes the growth to both stabil i ty in poli t ics and macroeconomic policy: We are in a stable position, and this is due mainly to the good behavior of public finances as well as the good behavior of the monetary pol-icy. With the support

of the IMF, with which we have con-cluded an economic program over three years, we are able to contain our fiscal balance within limits that are acceptable and consistent with macroeconomic stability, he explains.

International compa-nies in virtually every sector are becoming interested in business opportunities in the DRC as they recognize a distinct improve-ment in the countrys business climate.

Prime Minister Mapon with an African Caucus panel featuring Dr. Justin Lin, former senior vice president and chief economist of the World Bank

PROMOTION 12 // THE BEST OF AFRICA

The Future of GovernancePonyos vision, embodied in the current administration, involves the golden tril-ogy of leadership, good policies and good governance. Under Ponyo, the golden trilogy will provide an extensive blueprint not only for the DRC, but for all of sub-Saharan Africa.

Indeed, Ponyos new administration, which he unveiled to the public soon after taking office, represents a shift not only in governance, but also in vision.

To begin with, Prime Minister Ponyo promised the country that reducing bureaucracy would be one of the key focuses of his tenure. Toward that end, he resolved to consider the person-ality of each candidate for his government ex-tremely carefully. The most impor tant things are efficiency, work, in-tegrity and morality, the prime minister empha-sized in describing his selection criteria.

Ultimately he selected 36 members for his cabi-netcompared to the 60 members of the previous administra-tion. According to Professor Philippe Buyoya, a noted poli t ical analyst with the University of Kinshasa, Po-nyos decision to have fewer heads of political departments translates to greater concentration on running the country rather than bickering over internal politics.

The prime ministers cabinet consists of two deputy prime ministers, 25 ministers, one min-ister-delegate and eight deputy ministers. In another first, Ponyo selected five women to occupy o the r h igh- rank ing posts . Among them, Wivine Mumba Matipa was named Minister of Justice and Human Rights and Genevieve Inagosi was appointed Minister of Gender, Family and Children.

V e r y r e c e n t l y , P o n y o upheld his promise to reduce bureaucracy by holding an unp recedente d ce remony at which each minister was required to pledge his or her

ethical commitment to the country. By having every member, in addition to him-self, recite the Code of Conduct, Prime Minister Ponyo sent a strong message to the people of the DRC and the global community and foreign businesses that his government is serious about its goals and its ability to accomplish the difficult tasks ahead of it.

According to Cabinet Secretary Xavier Bonane Nganzi, The ceremony was of great historical significance for the Democratic Republic of Congo because it reflected the political will of the Prime Minister and his whole government. Mor-alizing the management of public affairs through good governance as the foun-

dation of any state action shows a policy of integrity. In addition, he noted, The will and commitment of the prime minister to accom-pany President Kabila in making his vision of good governance and the fight against corruption a nec-essary step fulf i l ls the revolution of modernity.

Enjoying a hands-on approach, as exemplified by the Code of Conduct ceremony, Ponyo truly walks the walk. If a minister is late for a morn-ing meeting, for example, the prime minister will not allow him into the room. And if new construction is taking place within the country, Prime Minister Ponyo has been known to make site visits to evaluate the quality of work. Excellence

is expected at all levels of government and industry in his eyes, and anything less than perfection is inferior and not worthy of the DRCs new standards.

Working Toward a Brighter FuturePrime Minister Ponyo recently met with the Federation of Congolese Enter-prises and began working to create a permanent framework for increased cooperation between the government and the private sector. His goals are to improve the business climate in the DRC and open the doors to increased global investment. Some of the preliminary talks have resulted in the liberalization of the insurance industry and other for-merly state-owned enterprises.

Since assuming the role of prime min-ister of the DRC, Matata Ponyo Mapon has been tasked with facing a range of issues that have plagued the country for decades. From security challenges in the eastern part of the DRC and the rehabilitation of road infrastructure to the implementation of free education and the improvement of social conditions, Prime Minister Ponyo certainly has had much to handle. Several months into his post, he has demonstrated that he is a multifaceted leader who makes influ-ential decisions, follows through on his actions and transparently reports on the nature of his work.

His dedication to improving the econ-omy, politics and sense of community within the DRC and all of sub-Saharan

Africa can be seen through his vision for the continent: Coun-tries are asserting ownership over development efforts, with more emphasis being placed on results, building capaci-ties and national systems, the choice of policies, reforms, and aid coordination and ef-fectiveness. In other words, Africa is not just coping, it is moving forward.

As Prime Minister Ponyo continues to heighten the standards for governance, the DRC will command an inc reas ing ly v i s ib le and impor tant position on the global stage.

Ponyos vision involves the golden trilogy of leadership, good policies and good governance.

Prime Minister Ponyo on a tractor launching the agricultural campaign for 2012-2013

THE BEST OF AFRICA // PROMOTION 13

FOSTERING CHANGE THROUGH PRIVATE EQUITY

A LOOK AT K&A PRIVATE EQUITYS APPROACH TO DEVELOPING AFRICA

As a new player on Wa l l S t r e e t , t h e middle-market firm K&A Private Equity

offers unique access to a con-tinent on the brink of global success. Led by CEO Ephra Kazadi, K&A focuses solely on African businesses and aims to harness the regions grow-ing economic prospects to achieve financial gains. Though theyre often overlooked on the global stage, many African nations have shown strong, sustainable growth during the worldwide financial crisis, which suggests that Africa will likely play a larger role in future global business.

Congolese born and Colum-bia Business School educated, Kazadi combines his years of experience in the conti-nents mining sector with that of some of the worlds best analysts to create a product poised to take advantage of Africas many growth opportunities. After trad-ing diamonds around the world for years, in 2008 Kazadi and his partners launched a success-ful mining and metals consulting firm in Paris, where, armed with their knowledge of the mining sector and the continents business protocols, the consortium found great success.

K&A Private Equity has a simple yet powerful mantra. Aiming to develop

companies, countries and the African continent as a whole, the company seeks

to leverage both its wide investment network and its financial knowledge to bring African private equity to the United States. By opening an office in New York, Kazadi hopes to provide a vehicle for trans-lating a growing American interest in Africas rise into

direct investments in the continent. Investors are searching for the

next financial holy grail in the midst of the ongoing financial crisis, which

continues to wreak havoc on Western markets and add doubt to the growth trajectories of India and China. According to Kazadi, the case for investing in Africa is stronger now than ever before.

Africa is one of the worlds fastest-growing economic regions, and its young demo-graphic provides an immense untapped workforce. Combined with its rich endowment of natu-ral resources, Africa offers the potential for an impressive return on investment in the coming years, says Kazadi.

K&A Private Equity focuses on companies in the mining, construction and agribusiness sectors throughout Africa. The firm will only invest in African countries, establish majority participation, and use unlever-aged funds to acquire target companies. Muchanga Capital

GP, the firms first fund, has a target of $600 million.

Kazadi and his team will identify and invest in companies that have the potential to grow based on qualitative measures, highly committed manage-ment teams and, of course, attractive quantitative metrics such as sales fig-ures and valuation multiples. Whereas Europe traditionally serves as Africas financial hub, Kazadi and his team are positioning themselves for a shift to the United States, where interest in the con-tinent is growing. K&A seeks to redefine private equity for Africa, one investment at a time.

K&A seeks to redene private equity for Africa, one investment at a time.

Ephra Kazadi, CEO, K&A Private Equity

PROMOTION 14 // THE BEST OF AFRICA

CHARTING THE FUTURE OF AFRICAN SUCCESS THE 2012 AFRICA CAUCUS MEETING

In August, key policy makers from around the world convened in Kin-shasa in the Democratic Republic of Congo (DRC) for the annual Africa

Caucus Meeting. Centered on agri-cultural productivity and agribusiness development, and led by DRC Prime Minister Augustin Matata Ponyo Mapon, the meeting addressed future economic growth in Africa and outlined strategies for tackling some of the economic issues currently facing the continent.

Unleashing Africas PotentialKeynote speaker Kandeh Yumkella, a Sierra Leonean economist and the

Director-General of the United Nations Industrial Development Organization (UNIDO), discussed Africas agricul-tural and agribusiness potential. Widely regarded as a leading expert on inter-national trade, development economics and renewable energy in Africa, Yum-kella stressed that Africa needs a diverse economy to protect against shocks, placing particular emphasis on its agri-cultural development.

Agriculture is the most important sec-tor of the African economy, and will have to be its driving engine out of poverty, noted Yumkella. It accounts for 65% of the continents employment and 75% of

its domestic trade.Competition is crucial to helping busi-

nesses thrive and improving overall human welfare, he added. He encour-aged the meetings participants to unleash Africas potential in a market-friendly context.

Private agribusiness development can be promoted through created com-petitiveness within the framework of inherited comparative advantage and a business-friendly environment, while building on policy reforms that aim at creating the conditions for enterprises to achieve international competitiveness, Yumkella said.

DRC Prime Minister Augustin Matata Ponyo Mapon

THE BEST OF AFRICA // PROMOTION 15

Encouraging Sustainable PracticesPreviously, Yumkella served as the Minister for Trade, Industry, and State Enterprises in Sierra Leone, and was educated in both Africa and the U.S. His star rose after his success in help-ing Sierra Leones industrial sector, and he became Director-General of UNIDO in 2005. In 2009, United Nations Secretary General Ban Ki-moon appointed him to chair the Advisory Group on Energy and Climate Change.

During his speech, Yumkella emphasized the importance of encouraging environmentally sustainable business practices, noting that Africa is largely be-lieved to be among the regions most affected by ongoing cli-mate change.

Emerging industrial enter-prises in Africa should adopt business strategies where they look to maximize resource effi-ciency and cleaner production, he said. More simply, they should adopt the three Rs strategy: re-duce, reuse and recycle. This requires them to first maximize the efficiency with which they use their energy and raw materials, while adopting cleaner production, pollution prevention and green productivity practices.

Protecting Africas Economic InterestsOther at tendees included Afr ican governors from the International Mon-etary Fund (IMF) and the World Bank Group (WBG), as well as African minis-ters of finance and heads of state. The Caucus offered an opportunity for IMF and WBG members to coordinate their efforts to protect Africas economic interests and to benefit from their status as Bretton Woods Institutions.

Last years Africa Caucus Meeting was also spearheaded by Ponyo Mapon, who then served as the DRC Minister of Finance. In April, he was appointed to the position of Prime Minister by Presi-dent Joseph Kabila. President Kabila and Prime Minister Mapon have worked diligently to encourage free enterprise in

the DRC, and Africa as a whole, by cre-ating outcome-based discussions and executing many of the ideas developed at these summits.

The 2011 Africa Caucus Meeting focused on identifying and promoting energy and power generation initiatives, which are key drivers of Africas future development. That summit concluded with the facilitation and implantation of several important and wide-reach-ing power projects throughout Africa, including the construction of the Inga III and Grand Inga Dams in the DRC, the Lom Pangar Hydropower Project in Cameroon, the Souapiti and Kaleta hydroelectric projects in Guinea and the Menengai Geothermal Development Project in Kenya.

The Next Emerging MarketBeyond the positive outcomes of the annual Africa Caucuses, a relatively untapped labor force can also contrib-ute to Africas future economic success.

The continent has one of the youngest populations in the world. More than 60% of Africas people are under the age of 30, with nearly 200 million between 15 and 24 years old.

According to UNIDO, this number is expected to double by 2045. If current population trends continue, Africas labor market will reach 1 billion by 2040, which would make it the largest in the world, surpassing even those of India and China. While such explosive growth could prove to be problematic, under sound economic policies and with con-tinued investment in its resources, the continent has the potential to be a major player on the world stage.

Hailed as the next emerging market, Africa has tremendous potential in the context of mineral wealth, human capital and, of course, agribusiness. As Africa continues to grow, cooperation among its leaders to create a business-friendly environment is paramount to moving the continent forward into a bright future.

Jean-Claude Masangu, governor, DRCs Central Bank

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PROMOTION 18 // THE BEST OF AFRICA

EQUATORIAL GUINEAGAUGING AFRICAS FUTURE

In the West African nation of Equa-torial Guinea, there is optimism in the air. Businesses are thriving, the economy is outperforming many

others in Africa, and changes that prom-ise a better tomorrow are beginning to take place. Led by President Teodoro Obiang, who was reelected in 2009, Equatorial Guineans enjoy the largest GDP per capita on the African continent, according to the International Monetary Fund (IMF).

Within the continent, Equatorial Guinea exemplifies the growth trajectory of Africa. Converting revenue from oil

reserves into larger projects for the pub-lic good has been an important goal for President Obiang and his government. Now, many other nations that are rich in minerals and other natural resources are following Equatorial Guineas lead to revitalize their economies and develop their full potential.

Equator ial Guineas growth has attracted quite a bit of attention from interested parties in both private indus-try and foreign governments. The United Kingdom-based company Lonrho, for example, is heavily invested in Equa-torial Guinea in multiple sectors. The

Lonrho oil services terminal in Equato-rial Guinea, Luba Freeport, supplies the support and logistics infrastructure to 99% of the oil and gas industry oper-ating in the country and others in the Gulf of Guinea. Many of its customers include foreign companies with interests in Equatorial Guinea, such as Exxon- Mobi l , Sch lumberger, Hess, M- I Swacco, SBM Offshore, Noble, CNOOC and many more.

The countrys relationship with the U.S. is equally important. In 2006, the U.S. Agency for International Development (USAID) entered into a memorandum of

Lucien Ebata, head of Orion Oil, and President Teodoro Obiang

THE BEST OF AFRICA // PROMOTION 19

understanding with Equatorial Guinea to establish a Social Development Fund in the country. The funds purpose was to implement projects in the areas of health, education, womens affairs and the env i ronment . The positive effect of these programs is significant for the citizens of Equato-rial Guinea, and they are among the many models used to de-ve lop and gauge p ro jec ts in o the r African nations.

The U.S. is also the largest cumula-tive bilateral foreign investor in Equato-rial Guinea. Exports to the U.S. totaled over $2.39 billion in 2009 and consisted overwhelmingly of petroleum products. In the same year, U.S. exports to Equatorial Guinea to-taled $304 million and consisted mainly

of machinery, articles of iron or steel, measuring instruments and chemical products.

President Obiang set Equatorial Guineas long-term Horizon 2020

development plan into motion in 2007. The plan cal ls for the achievement of major goals to aid the countrys develop-ment and investment environment and the general social wel-fare of its citizens. These goals include investing in economic growth, development of structured invest-ments, promoting and strengthening

the development of social policy actions, ensuring a transparent social climate, and, lastly, expanding the prospects for better monitoring and evaluation of pov-erty and household living conditions.

According to President Obiang, The vision of sustainable development by 2020 adopted by Equatorial Guinea means achieving the Millennium Devel-opment Goals through the multiplication of our efforts, expanding the sources of production and training human resources to achieve appropriate levels of growth for a competitive economy, capable of eradicating poverty and hun-ger, as defined under the current Action Plan for the Development of Equatorial Guinea by Horizon 2020.

By setting high standards and imple-menting the best practices and personnel to see that they are carried through, Equa-torial Guinea is looking to ensure its future success over the long run.

As the nation grows and improves its business climate, it will offer greater investment opportunities and also improve the standard of living for its citizens. Equatorial Guinea and Africa have great potential to change for the better as they progress together toward a brighter future.

Equatorial Guineas long-term Horizon 2020 development plan calls for the achievement of major goals to aid the countrys development and investment environment and the general social welfare of its citizens.

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