DOCSLIB.ORG

Assessing Investment Rationale: the Case of Anglo American Corporation in Latin America

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Assessing Investment Rationale: the Case of Anglo American Corporation in Latin America The copyright of this thesis vests in the author. No quotation from it or information derived from it is to be published without full acknowledgementTown of the source. The thesis is to be used for private study or non- commercial research purposes only. Cape Published by the University ofof Cape Town (UCT) in terms of the non-exclusive license granted to UCT by the author. University Assessing Investment Rationale: The Case of Anglo American Corporation in Latin America Town By: Lyal White Cape of Thesis Presented for the Degree of DOCTOR OF PHILOSOPHY In the Department of Political Studies UNIVERSITY OF CAPE TOWN University Supervisor: Prof. Robert Schrire July 2007 Table of Contents Abstract vi Acknowledgements vii 1. Introduction: The Essence of Investment Decisions 1.1. Introducing the research theme 1 1.2. Background to the case-study 2 1.3. Why this study? 3 1.4. Linking theory and practice 6 1.5. Explaining the time frame: 1973-2004 8 1.6. Structure and chapter breakdown 10 Town 2. Outlining the Methodology 2.1. Introduction 13 2.2. Research design to understand investment rationaleCape 14 2.3. Key attributes of qualitative research 16 2.4. Contextualising the case study of 17 2.4.1. The importance of triangulation and process tracing 18 2.4.2. Identifying the dependent and independent variables 20 2.4.3. The role of congruency and detailing process tracing 21 2.4.4. The congruence method 21 2.5. Research procedureUniversity and data collection 22 2.5.1. Semi-structured interviews and discussions 23 2.5.2. Literature diversity and depth 24 2.6. Advancing explanations 25 2.7. Conclusion 26 ii 3. The Relevance of Theories of Investment Behaviour 3.1. Introduction 28 3.2. Models of decision making 30 3.2.1. The rational actor model 31 3.2.2. The organisational model 31 3.2.2.1. The composite decision process and the organisation 32 3.2.3. The governmental politics model 35 3.2.4. Blending models 38 3.3. The external component of composite decisions 39 3.3.1. ‘Comparative’ and ‘competitive’ advantage 40 3.3.2. Institutions and investment rationale 44 3.3.3. Institutions and competitive advantage 45 3.4. Conclusion: Convergence in the essence of investment decisions 46 Town 4. The History of Anglo American in South America, 1973–2004 4.1. Introduction 48 4.2. The birth of the Anglo American CorporationCape 49 4.2.1. Anglo American and De Beers of 50 4.2.2. Expanding beyond South Africa’s borders 51 4.2.3. Balancing growth with political activism 53 4.2.4. Anglo American’s decision-making core 55 4.3. Anglo’s entry into South America 57 4.3.1. The Hochschild Group and the birth of AMSA 60 4.3.2. Developing aUniversity unique operating style for Latin America 64 4.3.3. Anglo’s growth and prominence in South America 66 4.3.4. AMSA’s first significant failure: The bid for CVRD 68 4.4. Conclusion: The AMSA experience and lessons for investment rationale 72 iii 5. The Political Economy of Investment: An Overview of Africa and Latin America 5.1. Introduction 77 5.2. The Investment environment in Africa and Latin America 78 5.2.1 Africa’s dismal investment record 79 5.2.2. Latin America’s mixed experience 82 5.3. Mining investment in Africa and Latin America 84 5.3.1. Africa 86 5.3.2. Latin America 89 5.3.3. The distinguishing characteristics of the Latin American mining environment 92 5.4. International dynamics and metal prices 94 5.5. Conclusion Town 95 6. Anglo American’s Investment Choices: The Cases of Chile and Zambia Cape 6.1. Introduction of 98 6.2. Investment strategy in Chile: From a restrictive to facilitative 99 6.2.1. The Chilean investment attraction strategy in the 1970s 100 6.2.2. Key policies, instruments and decisions 102 6.2.3. Internationalisation, democratisation and continuity: Cornerstones of success 104 6.3. Zambia’s investmentUniversity path 106 6.3.1. The political economy of investment in Zambia 106 6.4. Anglo American in Chile and Zambia 108 6.4.1. La Disputada versus Konkola Deep 109 6.4.2. The rationale of the ‘old’ Africa hands 112 6.4.3. Lessons from the Zambia experience 114 6.5. Conclusion: External aspects in investment decisions 115 7. Conclusion: Why did Anglo Invest in Latin America? 7.1. Reintroducing the central theme and objectives 118 iv 7.2. Bounded rationality and investment behaviour 119 7.3. Contextualising Anglo’s decisions 120 7.4. Key themes, questions and results of the research study 122 7.5. Concluding remarks: Future research threads 130 Appendices Chapter 1 Appendix I: Chronology of events 132 Appendix II: Defining Terminology, FDI 134 Chapter 2 Appendix I: Common misunderstandings regarding case study research 135 Appendix II: Data sources and types of evidence 136 Appendix III: Interview Sources Town 137 Appendix IV: Questionnaires 138 Chapter 3 Appendix I: Summary of conventional investment Capedecision models 141 Appendix II: Michael Porter’s diamond system:of Augmented with exogenous composite decision attributes 142 Appendix III: The composite decision 143 Chapter 4 Appendix I: Leading mining companies in the world, by sales (2004) 144 Appendix II: Anglo American mining operations in South America 145 Chapter 5 University Appendix I: Global distribution of net FDI inflows, 1970–2004 146 Appendix II: Latin American share of world mining production (%), 1990 & 1998 146 Appendix III: Annual average gold and copper prices 147 Bibliography 148 Internet Sources 159 v Abstract This thesis assesses the investment decisions and investment behaviour of the Anglo American Corporation in Latin America and Africa. It focuses on the question of ‘why’ Anglo chose to invest in Latin America and how it went about choosing one country over another. It is an historical, ideographic study that explores the role of personalities, institutional, political and corporate culture and wider national and regional political criteria in Anglo’s investment decision process. The research shows that Anglo’s investment decisions were based on more than financial cost-benefit returns. Indeed, the importance of maximising financial outcomes – best described by the ‘rational choice’ paradigm – provided the initial impetus for investment. But there was more to it in Anglo’s case. Politics and organisational concerns and culture were implicitly part of Anglo’s decision making. Political criteriaTown have become increasingly entwined with business decisions in less developed countries where medium-to-long-term stability is questioned. This advances the notion of ‘bounded rationality’ in decision making, which includes an array of political and policyCape considerations in a developing world investment setting. of Internal politics, leadership and organisational culture also influenced the company’s investment decisions. They were key in leading Anglo to Latin America, and central to the decision not to invest further in Zambia in 2001. The combination of these influences is described in this study as ‘composite investment decisions’: an integration of endogenous and exogenous factors. University The research traces Anglo’s progress in Latin America from inception into Brazil in 1973 through the growth of accumulated investment assets reaching US$5 billion in 2004. Anglo’s investment decisions ensured that it retained its position as a market leader in Latin America and the world of mining over a thirty-year span. Explaining why and how these investment decisions were made is a story until now never told that should inform academia, business analysts, multinational companies and policy- makers. vi Acknowledgements The process of intellectual development undertaken this research study drew me into a long and fulfilling journey (of self-discovery, among other things) that stretched from South Africa to Latin America and the United States, and from the University of Cape Town to the University of California, Berkeley. It was a journey that was supported, enriched and – in some cases – facilitated by a number of individuals who not only made it possible, but also encouraged me every step of the way. I am eternally grateful to them all. Firstly, my friends across the globe. I am fortunate to have a tightly knit network of friends who have offered me unconditional support and assistance throughout the process. Whether it be a place to stay for weeks that turned into months or simply showing (or pretending to show) some interest and enthusiasm in my research findings, which I felt the need to share with you over a bottle of wine or a cup of coffee. In particular, TownCarlo, Flo, Ali, Ruth, Juliana and Olivier, whose friendship and ongoing support gave me the stamina to persevere, and provided me with an understanding and sympathetic outlet for my frustrations. The hospitality and friendship of Jill and Ray providedCape me with the ideal environment and comfort in Berkeley to get the job done. of The Center for Latin American Studies (CLAS) at Berkeley and its wonderful people granted me the opportunity to spend time in what I believe to be one of the greatest institutions in the world. I had access to essential research material and engaged with scholars from across the globe, all of which contributed immensely to the study. Berkeley not only influenced my approach to research,University but changed the way I see the world. Secondly, my family. They have always encouraged me to take the road less travelled and instilled a sense of conviction that has allowed me to spread my wings and pursue my wildest dreams. Cuan, my brother, has helped me to see another perspective of the world and was an essential antidote when I was caught up in my own mind and needed to see the world for what it was – which was a lot less serious than I had imagined.
Load more

Recommended publications
  • The Political Thought of Harry Oppenheimer, Under the Editorship of Kalim Rajab
    THE JOURNAL OF THE HELEN SUZMAN FOUNDATION | ISSUE 81 | DECEMBER 2017 BOOK REVIEW Gary Ralfe retired from active business life in 2006 after forty A Man Of Africa : The Political years of service firstly with Anglo American Corporation, and then Thought of Harry Oppenheimer with De Beers where he was Managing Director for eight Edited by Kalim Rajab years. In addition to My forty-year career with Anglo American and De Beers developed the HSF he chairs the Board of Governors under the benign shadow of Harry Oppenheimer (HFO). To generations of Michaelhouse, the of managers and staff in what used to be called the greater group HFO fund-raising arm of the Alexandra Education was more than a chairman and leader. He was a living icon. I was Committee, the fund- not the first or the last young man or woman to join Anglo American raising arm of Business Against Crime and the because it was a force for good in Southern Africa, the most important Beyond Foundation engine of economic growth, industrialisation, urbanization and a which does community work in rural areas. better life for all. I associated with the credo attributed to HFO’s father Sir Ernest Oppenheimer that “the purpose of large corporations such as Anglo American is to make profits for its shareholders, but to do so in such a way as to make a real and lasting contribution to the welfare of the communities where it operates”. It is surprising that seventeen years after HFO’s death there is still no biography. I know that the family wisely wanted time to elapse before commissioning one.
    [Show full text]
  • Emigration from England to South Africa
    Chapter 11: Emigration from England to South Africa When we landed at Harwich this time there was no trouble with Customs. Out of the dock area our first need was to fill up with petrol and when we did so Nigel was very intrigued and said to me quietly so as not to hurt anyone’s feelings ‘Daddy, They all speak English here!’ Of course, as they were often during the day in Utrecht in the care of a Dutch nanny (after her marriage, Kitty had been replaced by ‘Babs’), they heard a lot of Dutch spoken and understood quite a bit. When Babs took them to the Wilhelminapark (where it was forbidden to walk on the grass!), she would take them to see the ducks and they knew them as ‘eendtjes’ and a passing horse would be referred to as ‘een paard’. Only two days after we returned to England Stuart was being a little fractious when being taken for a walk in his push-chair, or stroller as it seems to be now called, and we attempted to distract his attention from whatever was worrying him by pointing out a passing horse and cart by saying ‘Kijk, Stuart, een paard!’ he replied crossly ‘It isn’t a paard, it’s a horse!’ Life in England was obviously not going to easy because we did not have a home, we only had the car for a few days until I would have to hand it over to Dr Johnson, my replacement for the job in Holland, and all I had to build a practice around was my appointment at the Middlesex which thanks to the introduction of the National Health Service was paid now, but not enough to keep a wife and family of three children.
    [Show full text]
  • The Diamond Cartel
    THE DIAMOND CARTEL Although the United States is the principal consumer of the world's dia- mond supply,' the diamond industry is so cartelized as to be virtually imper- vious to pressure by American users of diamonds. Within the past ten years industrial diamonds have become indispensable to various high-speed, pre- cision manufacturing operations.2 Since distribution of ninety-five percent of the world's diamond production is channelized through a single marketing combine, competitive forces within the industry have been short circuited.a Therefore consumer resistance has been impracticable and American efforts to obtain a better bargaining position have so far been ineffective. The cartel is completely foreign-controlled and operates entirely outside the United States,4 thus obviating effective action under the antitrust laws and making 1. Leslie, Diamonds as Tools Speed up Victory, DoMEsTIc CoxriRcE, Aug. 1945, p, 28. Today, the United States uses approximately 90% of the world's production of Indus- trial diamonds. § 29 Complaint, DeBeers Consolidated Mines Ltd. v. United States, 325 U.S. 212 (1945) [hereinafter referred to as Complaint]. This figure includes all cate- gories of industrial diamonds--ballas, boart and carbonado. For a description of the types of industrial diamonds, see Diamonds for Victory, FOREIGN COMMERCE, Jan. 17, 1942, p. 4; Industrial Diamonds,.FORTUNE, June 1935, p. 22. Carbonado is rare and almost entirely confined to Brazil and will not enter into the discussion hereafter. Post-war production should produce the following ratios of diamond types: out of every 10,000 carats 250 will be carbonado, 1,900 ballas, 1,975 gemstones, and 5,875 boart.
    [Show full text]
  • Directory of Organisations and Resources for People with Disabilities in South Africa
    DISABILITY ALL SORTS A DIRECTORY OF ORGANISATIONS AND RESOURCES FOR PEOPLE WITH DISABILITIES IN SOUTH AFRICA University of South Africa CONTENTS FOREWORD ADVOCACY — ALL DISABILITIES ADVOCACY — DISABILITY-SPECIFIC ACCOMMODATION (SUGGESTIONS FOR WORK AND EDUCATION) AIRLINES THAT ACCOMMODATE WHEELCHAIRS ARTS ASSISTANCE AND THERAPY DOGS ASSISTIVE DEVICES FOR HIRE ASSISTIVE DEVICES FOR PURCHASE ASSISTIVE DEVICES — MAIL ORDER ASSISTIVE DEVICES — REPAIRS ASSISTIVE DEVICES — RESOURCE AND INFORMATION CENTRE BACK SUPPORT BOOKS, DISABILITY GUIDES AND INFORMATION RESOURCES BRAILLE AND AUDIO PRODUCTION BREATHING SUPPORT BUILDING OF RAMPS BURSARIES CAREGIVERS AND NURSES CAREGIVERS AND NURSES — EASTERN CAPE CAREGIVERS AND NURSES — FREE STATE CAREGIVERS AND NURSES — GAUTENG CAREGIVERS AND NURSES — KWAZULU-NATAL CAREGIVERS AND NURSES — LIMPOPO CAREGIVERS AND NURSES — MPUMALANGA CAREGIVERS AND NURSES — NORTHERN CAPE CAREGIVERS AND NURSES — NORTH WEST CAREGIVERS AND NURSES — WESTERN CAPE CHARITY/GIFT SHOPS COMMUNITY SERVICE ORGANISATIONS COMPENSATION FOR WORKPLACE INJURIES COMPLEMENTARY THERAPIES CONVERSION OF VEHICLES COUNSELLING CRÈCHES DAY CARE CENTRES — EASTERN CAPE DAY CARE CENTRES — FREE STATE 1 DAY CARE CENTRES — GAUTENG DAY CARE CENTRES — KWAZULU-NATAL DAY CARE CENTRES — LIMPOPO DAY CARE CENTRES — MPUMALANGA DAY CARE CENTRES — WESTERN CAPE DISABILITY EQUITY CONSULTANTS DISABILITY MAGAZINES AND NEWSLETTERS DISABILITY MANAGEMENT DISABILITY SENSITISATION PROJECTS DISABILITY STUDIES DRIVING SCHOOLS E-LEARNING END-OF-LIFE DETERMINATION ENTREPRENEURIAL
    [Show full text]
  • The-Diamond-Empire-Transcript.Pdf
    1 MEDIA EDUCATION F O U N D A T I O N 60 Masonic St. Northampton, MA 01060 | TEL 800.897.0089 | [email protected] | www.mediaed.org The Diamond Empire Transcript Part 1 begins on pg. 1 Part 2 begins on pg. 15 PART 1: INTRODUCTION NARRATOR: On a hill above Johannesburg is the private estate of one of the wealthiest families on earth. They’ve made their fortune by manipulating markets and fixing prices. Their money has come from ordinary people all over the world who imagine they’re investing in something rare and valuable. But this is a family which deals in illusion. It presides over one of the last great cartels, an extraordinarily successful business empire worth $60 billion. This is the Oppenheimer family and their trade is diamonds. NARRATOR: The richest diamond jewelry market in the world is in New York. It’s a $10.8 billion business. Around 47th Street, there are twenty-five thousand people who buy, cut, polish and sell diamonds, from the most glamorous jewelry to the cheapest mail-order. It’s a highly secretive and risky business. The Oppenheimers themselves declined to help in any way in the making of this film. Bill Goldberg is one of the few top dealers who will talk openly about what he does. BILL GOLDBERG: It’s fascinating, it’s amazing that a lot of men that are ten years younger than I am can’t wait to retire and I can’t wait to get here in the morning at eight o’clock, to produce these beautiful works, these beautiful pieces of art from what looks like a pebble on the beach.
    [Show full text]
  • The Heart of the Matter
    THE HEART OF THE MATTER SIERRA LEONE, DIAMONDS & HUMAN SECURITY (COMPLETE REPORT) Ian Smillie Lansana Gberie Ralph Hazleton Partnership Africa Canada (PAC) is a coalition of Canadian and African organizations that work in partnership to promote sustainable human development policies that benefit African and Canadian societies. The Insights series seeks to deepen understanding of current issues affecting African development. The series is edited by Bernard Taylor. The Heart of the Matter: Sierra Leone, Diamonds and Human Security (Complete Report) Ian Smillie, Lansana Gberie, Ralph Hazleton ISBN 0-9686270-4-8 © Partnership Africa Canada, January 2000 Partnership Africa Canada 323 Chapel St., Ottawa, Ontario, Canada K1N 7Z2 [email protected] P.O. Box 60233, Addis Ababa, Ethiopia pac@ telecom.net.et ________________ The Authors Ian Smillie, an Ottawa-based consultant, has 30 years of international development experience, as manager, programmer, evaluator and writer. He was a founder of the Canadian NGO Inter Pares, and was Executive Director of CUSO from 1979 to 1983. His most recent publications include The Alms Bazaar: Altruism Under Fire; Non Profit Organizations and International Development (IT Publications, London, 1995) and Stakeholders: Government-NGO Partnerships for International Development (ed. With Henny Helmich, Earthscan, London, 1999). Since 1997 he has worked as an associate with the Thomas J. Watson Jr. Institute at Brown University on issues relating to humanitarianism and war. Ian Smillie started his international work in 1967 as a teacher in Koidu, the centre of Sierra Leone’s diamond mining area. Lansana Gberie is a doctoral student at the University of Toronto and research associate at the Laurier Centre for Military, Strategic and Disarmament Studies, Waterloo, Ontario.
    [Show full text]
  • Abstract This Paper Explores the Under-Appreciated Role of Business
    Business and the South African Transition Itumeleng Makgetla and Ian Shapiro Draft: February 20, 2016 Abstract This paper explores the under-appreciated role of business in negotiated transitions to democracy. Drawing on our interviews of key South African business leaders and political elites, we show how business played a vital role in enabling politicians to break out of the prisoners’ dilemma in which they had been trapped since the 1960s and move the country toward the democratic transition that took place in 1994. Business leaders were uniquely positioned to play this role, but it was not easy because they were internally divided and deeply implicated in Apartheid’s injustices. We explain how they overcame these challenges, how they facilitated negotiations, and how they helped keep them back on track when the going got rough. We also look at business in other transitional settings, drawing on South Africa’s experience to illuminate why business efforts to play a comparable role in the Israeli-Palestinian conflict have failed. We end by drawing out the implications of our findings for debates about democratic transitions and the role of business interests in them. Department of Political Science, P.O. Box 208301, New Haven, CT 06520-830. Phone:(203) 432-3415; Fax: (203): 432- 93-83. Email: [email protected] or [email protected] On March 21, 1960, police opened fire on a demonstration against South Africa’s pass laws in Sharpeville, fifty miles south of Johannesburg, killing 69 people. The callousness of the massacre – many victims were shot in the back while fleeing – triggered a major escalation in the conflict between the African National Congress (ANC) and the National Party (NP) government.
    [Show full text]
  • A Review of Debswana‟S Performance Pre and Post the Acquisition of De Beers Shares by Anglo American Plc
    A review of Debswana‟s performance pre and post the acquisition of De Beers shares by Anglo American plc. Khumo Mothulatshipi A research report submitted to the Faculty of Engineering and the Built Environment, University of the Witwatersrand, in partial fulfillment of the requirements for the degree of Master of Science in Engineering. Johannesburg, 2015 Declaration I declare that this research report is my own unaided work. Where work of other authors has been used, it has been duly acknowledged. It is being submitted for the Master of Science in Mining Engineering to the University of the Witwatersrand, Johannesburg. It has not been submitted before for any degree or examination to any other university. ………………………………………………………………. Signature …………… day of ……………………year ………………………………….. i Abstract The minerals industry has in the last decade witnessed volatility, uncertainty, complexity and ambiguity (VUCA). The diamond industry has not been immune to these challenges. These challenges coincided with the decision of the diamond mining family in 2011 to opt out of De Beers after approximately a century of being in control by selling their 40 % stake to Anglo American plc (AA) which already had 45 % stake in De Beers. This transaction increased Anglo American plc‟s stake in De Beers to 85% thus joining venture with the Government of the Republic of Botswana (GRB) under an already existing entity called Debswana. Botswana has been hailed as a beacon of success and a model African state both politically and economically mainly due to its effective management of economic proceeds generated mainly through Debswana diamonds. Something that might be seen as a possible threat to this economic stability is the merger and acquisition (M&A) between the GRB and AA.
    [Show full text]
  • Anglo American and the Rise of Modern South Mrica
    I I I I Anglo American and the Rise of Modern South Mrica Duncan Innes (@ MONTHLY REVIEW PRESS NEW YORK For my father, and to the . memories ofmy mother and sUiter Copyright © 1984 by Duncan Innes All rights reserved Library ofCongress Cataloging in Publication Data Innes, Duncan. Anglo American and the rise of modern South Africa. Bihliography, p. Includes index. 1. Anglo American Corporation of.South Africa, Ltd.­ History. 2. South Africa-Economic conditions. 3. Mineral industries-South Africa-History. 4. South Africa-Industries_History. I. Title. HD9506. S74A534 1983 338.7'622342'0968 83-42523 ISBN 0-85345-628_3 ISBN 0-85345-629-1 (pbk.) Monthly Review Press 155 West 23rd Street New York, N. Y. l0011 Manufactured in the United States ofAmerica 10 9 8 7 6 5 4 3 2 1 APPENDIX 2 A Survey of the Anglo American Group of Companies INTRODUCTION This appendix lists and provides information on 656 companies in the Anglo American Croup. The list is not a fully comprehensive record, but is the most extensive public compilation of those companies involved with the Group up to the end of 1976. The appendix is divided info two parts. The first lists the most important 14 holding companies in the Group. isolating the 6 companies which form the core ofGroup structure. Information on the cross-holdings among these 6, and on some of the cross-holdings among the 14 companies, is also provided. A diagram is included. The second and major part of the appendix lists those companies which form the bulk of the Anglo American Group.
    [Show full text]
  • Another Giant Mining Fortune Represented in the Pilgrims Society (History’S Biggest Pandora’S Box!)
    ANOTHER GIANT MINING FORTUNE REPRESENTED IN THE PILGRIMS SOCIETY (HISTORY’S BIGGEST PANDORA’S BOX!) Presented October 2017 by Charles Savoie Refused coverage by Dave Janda, Greg Hunter, And dozens of “alt media” You Tube channels! Refused coverage by 24 Hour Gold, Silver Seek, And the rest of the “Ha-Ha” Parade! (Save this in your Downloads File; read in several sessions.) In April we reviewed details on James Ben Ali Haggin (1827- 1914, Episcopalian; Pilgrims Society member known as “the greatest mine owner on earth”) in “Silver Mining Kingpin Opposed Silver Money.” In August we reviewed the Guggenheim mining dynasty in “Vast Mining Fortune Represented in Pilgrims Society World Money Trust.” This item will be about the South Africa Oppenheimer mining fortune (diamonds, gold, platinum, uranium, titanium, zinc, copper, cobalt, coal, chemicals, manganese, rhodium, nickel, iron etc.) and there was a marriage in 1660 between the Guggenheims and Oppenheimers, back in the Old World. Not only that, but Jakob Oppenheimer ran a bank at Hanover, Germany, where the first Rothschild was an apprentice during 1757-1763! Samuel Oppenheimer (1630-1703) was military supplier to King Leopold I of Hungary, Croatia and Bohemia. The Guggenheims appear to have mostly died out and those still bearing that name being of lesser influence, the fortune shifting into Episcopalian hands (The Lawson-Johnstons, Episcopalians and Pilgrims Society members). I realize those releases were way longer than most metals investors are used to reading (539 pages together) but the background on Haggin, the Guggenheims and the Lawson-Johnstons is extensive, and in fact, I only provided a basic outline on both.
    [Show full text]
  • Debswana Diamond Company and the Government of Botswana: an HIV/Aids Public-Private Partnership Programme
    African Natural Resources Center African Development Bank Debswana Diamond Company and the Government of Botswana: an HIV/Aids public-private partnership programme A CASE STUDY Case study Botswana’s HIV/AIDS public-private partnership programme 2 table of contents Case study Botswana’s HIV/AIDS public-private partnership programme 3 Index 4 Preface 7 Introduction 7 Public-private partnerships 8 Health sector in Botswana 9 The HIV/AIDS epidemic in Botswana 11 Public policy and the strategic decision to collaborate 11 The Debswana Strategic Partnership 14 The collaboration and alignment with the government 17 Impact 20 Lessons learnt 22 The HIV/AIDS programme sustainability 22 Challenges 23 Policy considerations for other countries 23 Lessons for other countries 26 Bibliography Figures 9 Figure 1: Accumulated mineral revenues and public investment (real) 12 Figure 2: Country map showing locations of Debswana mines 14 Figure 3: Organisational chart of institutional arrangements 18 Figure 4: National ARV program 19 Figure 5: Productive time lost due to illness at all sites, 2002 - 2015 19 Figure 6: Ill health retirements from all operations, 2002 - 2014 20 Figure 7: Summary of deaths in service at all operations, 2002 - 2015 Case study Botswana’s HIV/AIDS public-private partnership programme 4 Preface The African Development Bank established the African Natural Resources Center as a non-lending entity aimed at building the capacity of member governments in the region to manage natural resources, whether renewable (fishery, forestry, land and water) or non-renewable (minerals, oil and gas). As part of its mandate, the center benchmarks experiences from other regions and supports African governments in performing their custodial obligations by collaborating with regional institutions, the private sector, civil society organizations and donors.
    [Show full text]
  • The Randlords, Art and South Africa
    OLD MASTERS AND ASPIRATIONS: THE RANDLORDS, ART AND SOUTH AFRICA MICHAEL STEVENSON Thesis presented for the Degree of Doctor of Philosophy in the Department of Art History, University of Cape Town, September 1997 University of Cape Town r·~ i.·;:~:t·;:·.:~; s.; Yt.:, :·.; ::,f:~:i·~; L cr In ;)c .. I.. C-·1-o•''::i'" !.:.· !<·.·:~ wY •. .!-.:. w..... •ll.;-!. ,1 t~:-;:;--:-:;_:,--::;-r-:_,_-:--:-.\:.>{<:'-:-'>,:7.-:~~.., ·---:;: ~-._.' •• j":".. • ,·, ::-- -::~ ....--:' ··_ • .:..""·.-:--_--::::;~-:-.'~.:_:JJ The copyright of this thesis vests in the author. No quotation from it or information derived from it is to be published without full acknowledgement of the source. The thesis is to be used for private study or non- commercial research purposes only. Published by the University of Cape Town (UCT) in terms of the non-exclusive license granted to UCT by the author. University of Cape Town CONTENTS ABSTRACT ............................................................................................. ~ ..................•.•..•....................•......• i CONVENTIONS •...•.•.........•.•••••••••.•..•....................•.....••....••••••••••.•.••..............••••••.••••••••••................••..•••••• vii INTRODUCTION ...................................................................................................................................... 1 CHAPTER ONE: SIR JULIUS AND LADY WERNHER ••.•...•.••••.....••.•..••••.•••••.•.•••.•.••.•..•.•.•.•.••• 37 CHAPTER TWO: ALFRED AND SIR OTTO BElT .................................................................
    [Show full text]