Business Daily | by George Wachira
In 1983 I was in a business planning meeting in Tunis to review long term business plans for Esso/Exxon affiliates in Africa. The Tunis venue had been selected with a reason. Esso Tunisia always delivered the highest petroleum sales growth, target profits, and experienced no fiscal obstacles remitting dividends to the parent company. Perfect business performance. And it was the country’s investment environment that made this possible.
Tunisia historical GDP growths were impressive with future trends predictable with a high degree of certitude. The rest of Africa including Kenya was quite the opposite. For Tunisia, tourism was the main economic driver, supported by some oil resources, and fruits agriculture. The political environment was stable and tolerant.
Our Tunisian colleagues explained the economic success as due to disciplined long term economic planning and implementation, ring-fenced from haphazard changes by politicians…