Thesis (MBA (Business Management))--University of Stellenbosch, 2007. / ENGLISH ABSTRACT: The increasing global demand for and dependency on oil provides tremendous
opportunities for oil-producing countries. Supported by the unprecedented
economic growth in developing countries such as China and India, the global
demand for oil is estimated to increase by 50% from the present 83 million
barrels a day to 120 million barrels a day by 2025. This increased demand for oil
provides the African oil industry with vast possibilities. Countries such as Angola,
Cameroon and Nigeria are already experiencing a large increase in direct foreign
investment, a higher Gross National Product en more favourable balance of
trade.
The logical conclusion from the abovementioned advantages of oil-rich countries
would seem to imply a sharp rise in the standard of living for the citizens of these
countries in the recent past. The purpose of this report is to determine if Angola,
as the world’s fastest growing oil-producer in terms of increased production of
barrels per day, offers its citizens an economically prosperous future.
Points highlighted by the report include the inevitable problems caused by
Angola’s colonial history and the recent twenty seven year long civil war. Angola
faces internal and external problems caused by
• “Dutch Disease”
• Fluctuating oil prices
• Poor governance
• Institutional capacity
China now plays an important if somewhat controversial role in Angola’s
prosperity by providing finance and aid with less stringent conditions than
Angola’s traditional sources. With Chinese aid Angola is now undertaking the
rebuilding of its infrastructure which is essential to counteract the negative
aspects of the country’s dependency on oil resource exploitation.
There is still significant corruption within the oil industry and it seems clear that
any attempts by international companies and non-governmental organisations to
counteract the problem will have limited success unless the governments and all
concerned parties take note of and accept new ethical and socially responsible
codes of behaviour.
Africa however is entering a new phase of accepting responsibility for its own
internal problems. The democratisation of the continent is setting new standards
for the fight against corruption.
Finally the report indicates that there are lessons to be learned from other
countries about using income from natural resources to benefit future
generations. Countries such as Botswana (diamonds) and Norway (oil) use
investment funds to limit their dependence on the resources and to counteract
the effect of fluctuating prices of the commodities.
Bearing in mind the above considerations, Angola cannot be expected to achieve
success overnight, but the country has all that is required to eventually assume its
rightful position on the continent and become another African economic success
story. / AFRIKAANSE OPSOMMING: Die wêreld se toenemende vraag na- en afhanklikheid van olie bied tans
geweldige geleenthede vir olie-produserende lande. Daar word beraam dat die
wêreldwye vraag na olie, gesteun deur ongekende ekonomiese groei in
ontwikkelende lande soos China en Indië, met meer as 50% van die huidige vlak
van 83 miljoen vate per dag teen 2025 tot 120 miljoen vate per dag sal toeneem.
Die moontlikhede wat hierdie verhoogde vraag vir die oliebedryf in Afrika bied, is
legio. Lande soos Angola, Kameroen en Nigerië ondervind reeds ʼn groot
toename in direkte buitelandse investering, ’n verhoging in bruto binnelandse
produk en gunstiger handelsbalanse.
In die lig van bogenoemde voordele vir lande wat ryk is aan oliehulpbronne, sou
die logiese afleiding wees dat die lewenstandaard van die burgers van hierdie
lande die afgelope paar jaar drasties moes verhoog het. Hierdie verslag het dit
ten doel om te sien of Angola, wat die wêreld se vinnigs groeiende olieprodusent
in terme van verhoogde produksie in vate per dag is, werklik sy burgers
ekonomiese voorspoed vir die toekoms bied.
Belangrike punte wat in die verslag na vore kom, is die onvermydelike probleme
waarmee Angola te kampe het weens die land se historiese agtergrond en die
onlangse burgeroorlog van sewe-en-twintig jaar. Interne en eksterne probleme
wat Angola teister is die gevolge van
• “Dutch Disease”
• Skommelende oliepryse
• Swak staatsbestuur
• Institusionele kapasiteit
China is ’n nuwe, hoewel ietwat kontroversiële, faktor in Angola se vooruitgang
en stel minder beperkende voorwaardes as Angola se tradisionele bronne vir
finansiering en hulpverlening. Met Chinese hulp is Angola nou besig met die
heropbou van sy infrastruktuur, wat noodsaaklik is as hy die negatiewe aspekte
van die land se afhanlikheid van olie-ontginning wil afskud.
Korrupsie binne die oliebedryf is egter nog beduidend en dit is duidelik dat die
pogings van internasionale maatskappye en nie-regeringsorganisasies om die
probleem die hoof te bied, beperk sal bly tensy die regerings en alle
belanghebbende partye kennis neem van nuwe etiese en sosiaal
verantwoordelike optredes en dit aanvaar.
Afrika gaan deur ’n nuwe fase waar die vasteland self verantwoordelikheid
aanvaar vir sy interne probleme. Die demokratisering van die vasteland behels
die aanvaarding van nuwe standaarde ten opsigte van die bekamping van
korrupsie.
Ten slotte noem die verslag dat daar lesse te leer is van ander lande wat hul
inkomste uit hulpbron-ontginning tot voordeel van toekomstige geslagte
aanwend. Lande soos Botswana (diamante) en Noorweë (olie) maak gebruik van
beleggingsfondse om die land se afhanklikheid van die hulpbron te beperk en om
die uitwerking van prysskommelings van die kommoditeit teen te werk.
Met inagneming van bogenoemde oorwegings kan nie verwag word dat Angola
oornag ekonomiese sukses sal behaal nie, maar die land het alles wat nodig is
om mettertyd sy regmatige plek op die vasteland in te neem en na vore te tree as
nog ’n ekonomiese suksesverhaal uit Afrika.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:sun/oai:scholar.sun.ac.za:10019.1/824 |
| Date | 12 1900 |
| Creators | Du Toit, Francois Stephanus |
| Contributors | Thomas, W., University of Stellenbosch. Faculty of Economic and Management Sciences. Graduate School of Business. |
| Publisher | Stellenbosch : University of Stellenbosch |
| Source Sets | South African National ETD Portal |
| Language | Afrikaans |
| Detected Language | English |
| Type | Thesis |
| Rights | University of Stellenbosch |
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