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United Kingdom IC PuBLICATIoNS, 7 CoLdBATh SquAre, LoNdoN eC1r 4Lq. Tel: +44 20 7713 7711 Fax: Admin +44 20 7713 7898 editorial: +44 20 7713 7970 e-mail: icpubs@africasia.com Website: www.africasia.com France IC PuBLICATIoNS, 609 BAT A 77 rue BAYeN 75017 PArIS Tel: +33 1 44 30 81 00 Fax: +33 1 44 30 81 11 e-mail: info@icpublications.com Website: www.icpublications.com Group Publisher: Afif Ben Yedder (benyedder@africasia.com) Editor: Anver Versi (a.versi @africasia.com) Associate Editor Tom Nevin Correspondent-at-large Stephen Williams Editorial Assistant Carole Lambert Correspondents in Africa Barnabas Thondlana, Leo Odera Omolo, Blamuel Njururi, Herald Tigama, Pini Jason, Rob Rose, John Ansah, Derek Otieno, Chris Ndivanga, Masupu Rakabane Special Correspondents Milan Vesely, Moin Siddiqi, Dr Karamo Sonko, Neil Ford, Franççois Misser, Graeme Ewens, Pini Jason, Eluem Izezi, Jennie Street, Paul Michaud Associate Group Publisher: Omar Ben Yedder (o.benyedder@africasia.com) Director of Sales & Marketing: Saliba Manneh (s.manneh@africasia.com) Advertising Sales Directors: Alya Assad (a.assad@africasia.com) Arthur Jones (a.jones@africasia.com) Omid Khodabakhsh (omid@ africasia.com) Nick Rosefield (n.rosefield@africasia.com) Medrine Chitty (m.chitty@africasia.com) Special Projects Consultant: Monique Butt Production Manager: Michael Messam (m.messam@africasia.com) Distribution Manager Mike Penton (m.penton@africasia.com) Subscriptions: IC Publications Subscriptions Dept Tower House, Sovereign Park, Market Harborough. Leicestershire LE16 9EF United Kingdom Telephone: +44 1858 438 792 Fax: +44 1858 461 739 Email: subscriptions@africasia.com Subscription rates for 11 issues: UK: UK£40.00, Eurozone €80.00, USA US$90.00, Rest of world UK£55.00 Printers: Headley Brothers Ltd, The Invicta Press, Queens Road, Ashford, Kent, TN24 8HH. Indexed and abstracted in PAIS International and included in one or more of the Informartion Access Company full text reference databases. Microfilms available from Xerox University Microfilms, 399 N. Zeeb Road, Ann Arbor, Michigan 48106, USA. Indexed by UMI/Data Courier, PO Box 327770, Louisville, KY 40232-2770 USA. All pictures AFP unless indicated. registered with the British Library. ISSN 0141-3929 ©2008 IC Publications Ltd. Contents April 2008 16 Cover Story Africa’s Top 200 Companies 43 Special Report energy in Africa Member of The Audit Bureau of Circulations. N° DE COMMISSION PARITAIRE EN COURS Avril 2008 Déépôôt léégal N0 DE COMMISSION PARITAIRE EN COURS 74 Countryfiles Kikwete deals with scandals ISSUE 341 WWW.AFRICASIA.COM Editorial 13 Killing the Golden Goose Cover Story Africa's Top 200 Companies 16 Southern African dominance slipping 18 The Top 200 Rankings Tables 24 North Africa: Egypt and Morocco battle it out 26 West Africa: Banks lead Nigerian charge 30 Mauritius nudging Kenya for lead 34 Botswana up, Zimbabwe down Company profiles 38 LC2 Nationwide 40 Basil Read 42 Kenya Airways EABL Special Report Energy in Africa 43 Angola challenges Nigeria 44 Another oil strike for Ghana 46 Africa now a new force in global gas 48 S Africa: battle of the nuclear giants Country Report Burkina Faso 52 Interview: Prime Minister Tertius Zongo 56 A spirit of reconciliation 2010 World Cup Watch 58 Manuel finds extra $3bn Commodities 60 Tea prices boil View from the City 62 Does foreign aid work for Africa? Countryfiles 64 Nigeria: Yar'Adua's many trials 68 SouthAfrica: Land issue temperature rising 72 Liberia: Exporters fund port upgrade 74 Tanzania: Kikwete deals with scandals 76 Cameroon: Aluminium the new gold? Reviews Book/Music 80 Greenspan's Bubbles 82 Nigeria's Afrobeat legend

United Kingdom IC PuBLICATIoNS, 7 CoLdBATh SquAre, LoNdoN eC1r 4Lq. Tel: +44 20 7713 7711 Fax: Admin +44 20 7713 7898 editorial: +44 20 7713 7970 e-mail: icpubs@africasia.com Website: www.africasia.com

France IC PuBLICATIoNS, 609 BAT A 77 rue BAYeN 75017 PArIS Tel: +33 1 44 30 81 00 Fax: +33 1 44 30 81 11 e-mail: info@icpublications.com Website: www.icpublications.com

Group Publisher: Afif Ben Yedder (benyedder@africasia.com)

Editor: Anver Versi (a.versi @africasia.com) Associate Editor Tom Nevin Correspondent-at-large Stephen Williams

Editorial Assistant Carole Lambert Correspondents in Africa Barnabas Thondlana, Leo Odera Omolo, Blamuel Njururi, Herald Tigama, Pini Jason, Rob Rose, John Ansah, Derek Otieno, Chris Ndivanga, Masupu Rakabane Special Correspondents Milan Vesely, Moin Siddiqi, Dr Karamo Sonko, Neil Ford, Franççois Misser, Graeme Ewens, Pini Jason, Eluem Izezi, Jennie Street, Paul Michaud

Associate Group Publisher: Omar Ben Yedder (o.benyedder@africasia.com)

Director of Sales & Marketing: Saliba Manneh (s.manneh@africasia.com)

Advertising Sales Directors: Alya Assad (a.assad@africasia.com) Arthur Jones (a.jones@africasia.com) Omid Khodabakhsh (omid@ africasia.com) Nick Rosefield (n.rosefield@africasia.com) Medrine Chitty (m.chitty@africasia.com) Special Projects Consultant: Monique Butt

Production Manager: Michael Messam (m.messam@africasia.com)

Distribution Manager Mike Penton (m.penton@africasia.com) Subscriptions: IC Publications Subscriptions Dept Tower House, Sovereign Park, Market Harborough. Leicestershire LE16 9EF United Kingdom Telephone: +44 1858 438 792 Fax: +44 1858 461 739 Email: subscriptions@africasia.com Subscription rates for 11 issues: UK: UK£40.00, Eurozone €80.00, USA US$90.00, Rest of world UK£55.00

Printers: Headley Brothers Ltd, The Invicta Press, Queens Road, Ashford, Kent, TN24 8HH. Indexed and abstracted in PAIS International and included in one or more of the Informartion Access Company full text reference databases. Microfilms available from Xerox University Microfilms, 399 N. Zeeb Road, Ann Arbor, Michigan 48106, USA. Indexed by UMI/Data Courier, PO Box 327770, Louisville, KY 40232-2770 USA.

All pictures AFP unless indicated. registered with the British Library. ISSN 0141-3929 ©2008 IC Publications Ltd.

Contents

April 2008

16 Cover Story Africa’s Top 200 Companies

43 Special Report energy in Africa

Member of The Audit Bureau of Circulations.

N° DE COMMISSION PARITAIRE EN COURS Avril 2008 Déépôôt léégal

N0 DE COMMISSION PARITAIRE EN COURS

74 Countryfiles Kikwete deals with scandals

ISSUE 341 WWW.AFRICASIA.COM

Editorial 13 Killing the Golden Goose

Cover Story Africa's Top 200 Companies 16 Southern African dominance slipping 18 The Top 200 Rankings Tables 24 North Africa: Egypt and Morocco battle it out 26 West Africa: Banks lead Nigerian charge 30 Mauritius nudging Kenya for lead 34 Botswana up, Zimbabwe down

Company profiles 38 LC2 Nationwide 40 Basil Read 42 Kenya Airways EABL

Special Report Energy in Africa 43 Angola challenges Nigeria 44 Another oil strike for Ghana 46 Africa now a new force in global gas 48 S Africa: battle of the nuclear giants

Country Report Burkina Faso 52 Interview: Prime Minister Tertius Zongo 56 A spirit of reconciliation

2010 World Cup Watch 58 Manuel finds extra $3bn

Commodities 60 Tea prices boil

View from the City 62 Does foreign aid work for Africa?

Countryfiles 64 Nigeria: Yar'Adua's many trials 68 SouthAfrica: Land issue temperature rising 72 Liberia: Exporters fund port upgrade 74 Tanzania: Kikwete deals with scandals 76 Cameroon: Aluminium the new gold?

Reviews Book/Music 80 Greenspan's Bubbles 82 Nigeria's Afrobeat legend

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