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Tuesday, May 16, 2006

Positive: Mobile phone companies to help Africa

"Motorola will make a red version of its Slvr cellphone and donate part of the proceeds from sales to Bono's Global Fund to Fight AIDS, Tuberculosis and Malaria", writes the New York Times.

Good initiative.

Another company that joined is American Express. "American Express has created a special co-branded Red card for British consumers; it contributes 1 percent of the transaction value from the card."

Apparently, "the fund was set up in 2002, has received nearly US$9 billion in overall financing commitments through 2008 and has approved the spending of US$5.2 billion on disease-fighting projects in more than 130 countries. But it says it is still short of its goals" - may be one reason is that the market leaders are not involved in (I guess, please inform me if you know better!). Amex and Motorola are not the market leaders in their respective markets, so naturally, the power of the market is against the total success of the fund.

(By Asia Business Consulting)