The theft of public funds from developing African nations is an immense problem, but given the concealed nature of such practices is often very difficult to qualify. It is a problem which encompasses a number of financial arenas, including the acceptance of bribes, exploitation of tax payer’s funds, tax leakage, inflation of the value of [...]
A new joint report by the International Finance Corporation (IFC) and the World Bank was released today, measuring business regulations in 183 worldwide economies. Doing Business in a More Transparent World 2012 is a sage look at economic global developments, and revealed that a number of countries across the African continent are emerging business environments. [...]
Following years of dissension under a ruthless military junta, Guinea is now looking to capitalise on its abundant resources with a new mining code. One of the most mineral-rich countries on the continent; the world’s biggest exporter of bauxite, with ample deposits of iron ore and a healthy smattering of diamonds and gold, the potential [...]
In October Nigeria joined a crop of other African nations that have hiked up their interest rates as a bulwark against soaring inflation. The restrictive policy measures, outlined at an emergency meeting, exceeded leading analysts’ predictions. The new measures were established by the Central Bank of Nigeria (CBN)’s monetary policy committee (MPC), less than a [...]
Written on October 12, 2011 | Posted in
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When UK Prime Minister David Cameron pledged last week to increase foreign aid by a considerable 34%, the announcement was met with widespread concern even from members of his own party. At a time of austerity and severe national cuts, does it make economic sense to drive so much money into foreign development- especially when [...]
The World Trade Center Africa initiative has agreed an historic trade deal with Italy, which will help unlock new market opportunities in the euro zone for African businesses. Julius Steyn, President of the WTC Africa Initiative, said that Africa was the least affected by the economic slowdown and as such offers a unique investment opportunity [...]
The Dow Chemical company announced this week that it will expand its operations in Africa by opening outlets in Algeria and Ghana, in response to a growing demand in the regions. Multinational corporation Dow is a supplier of plastics, chemicals, and agricultural products and has a presence in more than 175 countries, employing 46,000 people [...]
Written on October 6, 2011 | Posted in
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A report from the African Development Bank earlier this year revealed a demographic transition is taking place in Africa, with 34% of the population now considered middle class – up more than 60% from a decade ago. Now the World Bank predicts this will continue to rise to 43 million by 2030, growth which seems [...]
Nigeria’s presidential election last April may have heralded a new era for the country’s electoral system, but what needs to be done to ensure these gains aren’t lost in future polls? Lessons from Nigeria’s 2011 Elections, International Crisis Group’s latest briefing, examines the vote that restored President Goodluck Jonathan to office and left the ruling [...]
As we reported yesterday in Latest News, the country will go to the polls today on September 20th for the first time in three years. But what significant changes, if any, can we expect if the current President is defeated? The last election was implemented as an emergency measure, following the death of President Levy [...]
Written on September 20, 2011 | Posted in
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