Question

select a region in the world to analyze

1. How was the impact of colonization within the region.
2. Which countries in that region have the largest economy? what are the characteristics?
3. Select a country within the region and identify two significant multi-national in that country that are present in the market.
4. Citing Research, Explain why these multi-nationals go into these countries?what challenges did they face?

Answer 1

Colonization in African region

1 Ans: Colonialism impacted the African continent socially, politically and economically both positively and negatively. Some of the positive social, economic and political impacts included the introduction of Christianity which brought about more religious mission opportunities. Most of the missionaries introduced education in Africa by establishing mission schools to educate the local people and helped them to learn more about their land and culture. The Europeans brought new technology to Africa; they were provided with tools for farming and introduced new crops like maize and manioc from the New World. They built more infrastructures like medical facilities, transport and communication network, schools and established plantations for the growing of cash crops like cocoa, coffee, tea, rubber and cotton. Many Africans learned the languages of their colonial masters like English, French and Portuguese which has given them more advantage to be able to communicate in the present globalised world.

Some of the negative effects are that the Africans were taken as slaves to the new world and forced to work on the plantations without pay. On the African continent the Europeans seized land from the Africans to establish plantations for the growing of cash crops and forced the people to work on these plantations for a meagre. The African culture was diluted, traditions were taken away and their ways of life were destroyed.

2 Ans: Nigeria was the biggest economy in Africa with a GDP of $400.6 billion, and this makes up for 0.5% of the world’s GDP. Nigeria is the largest oil producing country in Africa and ranks 11th in the world. The oil and petroleum industry contributes significantly to the economy of the country.

South Africa’s economy ranks 35th in the world and 2nd in Africa with a GDP of $317.568 billion, and this is 0.4% of the world’s GDP. South Africa is the most industrialized country in Africa, and the economy depends mostly on the industries.

The economy of Egypt accounted for 0.377% of the world’s GDP and had a GDP of $294.109 billion. The economy of the country ranks 40th in the world and 3rd in Africa. The service industry contributes to 51% of Egypt’s GDP. The oil and gas industries contribute significantly to the country’s revenue with tourism coming second and agriculture third.

3 Ans: Country selected Nigeria

Multi-National Company 1 - Chevron Corporation, Nigeria

Chevron is one of the largest oil producers in Nigeria and one of its largest investors.

In Nigeria, we operate under a joint-venture arrangement with the Nigerian National Petroleum Corporation (NNPC) for the onshore and offshore assets in the Niger Delta region.

Chevron also has extensive interests in multipartner deepwater operations. We operate the Agbami Field, one of Nigeria’s largest deepwater discoveries. We also have a non operated interest in the Usan Field.

Multi-National Company 2 - Julius Berger, Nigeria

Julius Berger Nigeria Plc (Julius Berger) is a leading construction company offering integrated solutions and related services. Julius Berger specializes in executing complex works that require the highest level of technical expertise and Nigeria-specific knowhow.

4 Ans:

Chevron, as well as many other oil producers, has had challenges in the area of acquisition of rights to drill for oil in international countries. Another challenge that has hindered Chevron’s progress in internationalization is the way their operations have affected the environment.

Julius Beger focuses on winning privately financed concession projects, international expansion, and providing integrated solutions for construction projects.Challenging economic factors weakened investors’ confidence, which further exerted downward pressure on the stock market. In addition, the impact of the global economic meltdown also worsened the situation.