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LEGACY OF MONACO'S PRINCE RAINIER III
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reader,
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Monaco
is a principality, which territory expands 370 acres (150 hectares), on the Mediterranean
Sea. An enclave within the Alpes-Maritimes department, Southeast France, near
the Italian border. It consists of four adjoining quarters: La Condamine,
the business district; Monte Carlo, the site of the famous casino; Monaco-Ville,
the capital, atop a rocky promontory; and Fontvieille, an area of light
industry built largely on reclaimed land. The population - true Monegasque citizens:
around 32,500 in 2003. 76,000 people shuttle daily in and out from France and
Italy to work in Monaco.
The late ruler Prince Rainier III of Monaco,
who reigned for 56 years from 1949 to 2005, died on April 6, 2005.
On
April 10, 2005 the heir to the throne, Albert II, the son of the defunct monarch,
declared:
"My sisters and I keep in our hearts the memory of a benevolent
father who was deeply attached to his family. To everyone he leaves the example
of a prince totally identified with his high mission, who lived only for it,"
Albert said.
"Everyone knows the achievements of his reign, which was
out of the ordinary and saw the birth and blossoming of the exceptional development
of our country." [Source: Reuters]
Indeed, these words are not just
an aggrieved son's talks, but simply the truth. Rainier III economic achievements
are really out of the ordinary.
In people mind Monaco is Glamour
- Princess Grace of Monaco, the Principality Ball, the big Yachts of world billionaires
harbored in the port, the casinos, the highly performing soccer club, the Monte
Carlo's Movie Festival, and the stars climbing the steps to the festival palace
on red carpet. Etc.
That is for the decor. There is more behind the curtain:
A prosperous economy that had been built step by step thanks to the cunning
imagination exercised to find business development ideas and the efficient organization
put in place to carry them out. The monarch was known as "The Builder".
Under
his leadership, the principality successfully diversified its economy from games
business (casinos) to industries and services.
Industries (chemical, pharmaceuticals,
cosmetics, electronics, plastic, textiles, printing business, and IT) took over
providing, in 2004, 45.4 % of industrial revenues. Casinos revenues level dwindling
from 47% in 1949 to 4.3% in 2004.
To compensate for the lack of land,
industrial concerns were established in storied houses some rising up to 13 floors.
That way, from 1984 to 2004, more than 200,000 sq. meters had been built to house
industrial works. In total, the industrial sector accounts for around 6,000 jobs
in 2004.
The state has no income tax but low business taxes and thrives
as a tax haven both for individuals who have established residence and for foreign
companies that have set up businesses and offices. The state retains monopolies
in a number of sectors, including tobacco, the telephone network, and the
postal service.
The banking industry was very slow to develop and took
off at the beginning of the 1970's, when the expansion of the economy was at full
blossom; stimulated by Prince Rainier III's imaginative and active developing
policy; and by the synergetic
effect originating from a long period of economic growth and political
and social stability.
Today, Monaco has an extensive banking network,
comprising forty-five full service banks, and some twenty portfolio management
companies.
These financial institutions' total asset base amounts to nearly
EURO 60 billion, of which 70% are nonresident funds. Monegasque banks now employ
nearly 2,200 people, an increase of more than 40% over the past ten years. Almost
all work for major leading banking groups.
Globally Monaco's economy composition
reads as follows: Services (banking and other financial services) account for
49.1%; industrial activities for 15.6% (building construction included); and tourism
(hotels, gaming and shopping) for the remaining 35.3%.
In short, the
principality GNP had been multiplied by 20 from FR 3 billions in 1970 to EURO
9.8 billions (FR 60 billions) in 2004 that gives a per capita GNP of EURO 30,620
- in the top three of the world.
IMAGINATION
AND ORGANIZATION ARE NECESSARY TO BUILD A STRONG ECONOMY
IN THE DEVELOPING WORLD
We chose to briefly describe the economic
legacy of late Prince Rainier III of Monaco, to show once again that Organization
makes the difference between poverty and prosperity
Let us make a
linear comparison between the development of Monaco and that of sub-Saharan Africa.
Even if sociological conditions are not similar to make such a comparison,
one cannot avoid pointing out to the fact that Monaco's per capita GNP is 64
times the one of a sub-Saharan African citizen. (EURO 32,000 against EURO
500 in average for sub-Saharan Africa)
Which means that globally speaking
Monaco has a GNP that is 64 times the total GNP of 48 sub-Saharan African states.
It
is remarkable that the economy of a rocky tiny spot (150 ha) had been boosted
- in a span time of half a century - to become a financial powerhouse and a diversified
industrial site through imagination, efficient planning and management; and
full dedication of its rulers.
The principality, under a clever leadership
achieved "economic independence" without any natural resource; no oil
fields; no big territory. As did two other tiny states, Taiwan and Singapore as
here explained.
Monaco's Rainier III built on existing assets.
He did not destroyed inherited economic base (gambling) to
start everything from rumbles as we are witnessing since 1998 in Zimbabwe
for instance.
As explained in previous
delivery, sub-Saharan African nations have endless business opportunities
to attract foreign Investment and emulate success stories like the ones performed
by Monaco, Singapore and Taiwan.
As always stated in our deliveries, There
Is No Poor African Country. Only Lack Of Imagination And Mismanagement Of Existing
Assets.
"CONTRIBUTOR'S
GUIDELINES" are
available here. We invite
you to contribute to AFRICABIZ ONLINE MONTHLY ISSUE - with articles related
to "How Africa Could Bridge The Developing Gap".
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Dr. B.M. Quenum
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| Business
Opportunities
FOWL BREEDING
AS BUSINESS OPPORTUNITY - PART IX: - CONCLUSION ABOUT POULTRY
BREEDING IN SUB-SAHARAN AFRICA
Considering
information available in several deliveries [66,
67, 68,
69, 70,
71], and due
to untapped existing
chicken meat market in Africa amounting to US$ 20 billions, we reached the
conclusion that it is possible to establish 30,000 medium-scale chicken breeding
operations in sub-Saharan African countries that would generate direct jobs to
150,000 workers and 30,000 managers.
That shows there are opportunities
throughout the continent to establish chicken breeding companies to cater for
national demands in spite of the unfair
competition exercised by import from Europe, provided that operators take
necessary managerial and production decisions to control costs of production.
In addition to the medium-scale operations above briefly outlined, hundred
thousand "family operations" could be established as people's income
building power in African nations. Because when one speaks of fowl breeding, one
should include pentads, geese, ducks and not only familiar poultry, which picture
is available at the following
page.
Diversifying the production is the key to beat the competition
on national level and fight against imports.
| MORE
ON FOWL BREEDING | 1-
Poultry
Breeding and Genetics
by R.D. Crawford
2- The
Dollar Hen: The Classic Guide to American Free-Range Farming.
by Milo M.
Hastingd, Robert Plamondon
3- Small-Scale
Poultry-Keeping: A Guide To Free-Range Poultry Production.
By Ray Feltwell
4- The
Encyclopedia of Farm Animal Nutrition
by M.F. Fuller, et al
5- The
Mating and Breeding of Poultry
by Harry M. Lamon, Rob R. Slocum.
6-
Modern
Livestock and Poultry Production
by James R. Gillespie
|
7- Success
With Baby Chicks: A Complete Guide to Hatchery Selection
by Robert Plamondon.
8- The
Classic Guide To Poultry Nutrition:
Chickens, Turkeys, Ducks, Geese, Gamebirds,
and Pigeons.
By Gustave F. Hauser
9- The
Strange History of The Ostrich
In Fashion, Food and Fortune.
By Rob
Nixon
10- Ostrich's
Avian Incubation: Behaviour, Environment and Evolution.
By D. Charles Deeming |
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