Davenport has courted controversy over the years. He purchased his 33 Portland Place mansion from the Sierra Leone government for cut market rate in 1999, when the country was in the midst of a bloody civil war.

In 1996, Davenport was introduced to Professor Cyril Foray, the former Foreign Minister and High Commissioner of Sierra Leone to the UK.

The BBC reported that the residence – built in 1775 by Robert Adam and valued at £5 million – was in disrepair, and Davenport agreed to lease the building, fund its refurbishment and then return it to the country once the improvement work was done.

Following negotiations with the government, Davenport signed a contract with Foray and flouting a legal loophole after a payment of just £50,000,  was able to claim 33 Portland Place as his private residence.

Upon hearing (through speculative press reports) that Davenport intended tooccupy the residence permanently, the government of Sierra Leone started legal action. Following a reported out of court settlement, Davenport was allowed to keep the building, and acquired the freehold in 2005.

The five-story, 110-room house has subsequently been rented out by Davenport for parties, weddings and film shoots; most recently the Oscar-winning The King’s Speech starring Colin Firth.

This recent fraud case focused on his sham firm Gresham Ltd, founded in 2005, which was set up with a false predicate of 50 years’ experience in sourcing business loans and undertaking ‘due diligence’ checks.

Simon Mayo QC Prosecution, said ‘That image, deliberately cultivated by these defendants, was entirely false.’

‘It was essentially worthless. Its only business was fraud.’

Davenport and his accomplice Peter Riley, 64, of Brentwood, Essex, would charge companies advance fees to find loans for as much as £27.4m – but the monies never materialised.

‘To outward appearances it was long-established, wealthy and prestigious,’ Mayo QC, told Southwark Crown Court.

‘It operated from expensive London premises and had a balance sheet showing significant assets. It had a flattering corporate brochure and used headed notepaper that lent an image of corporate credibility.’

There are 51 known victims of the scam. An Indian businessman paid the fraudulent company £285,000 to arrange a £156.9m loan.

The group was estimated to have gained in excess of 4 million pounds between 2006 and 2009, prosecutors said.

Davenport will now swap 33 Portland Place for a jail cell, having been sentenced along with Riley to seven years and eight months for conspiracy to defraud.

Perhaps it is the right time for the Government of Sierra Leone to pursue Davenport for the return of 33 Portland place, which he fraudulently acquired, a prominent UK Barrister has suggested.

Despite assurances from the company that no customer funds had been affected, shares in UBS fell by 8% following the announcement.

Swiss bank UBS, today reported losses of $2 bn from rogue trades

‘The matter is still being investigated, but UBS’s current estimate of the loss on the trades is in the range of $2bn,’ the bank said.

According to his LinkedIn profile, Adoboli lists himself as an employee of UBS Investment Bank, citing European Equity Trading as his current role there.

Notting Hill Carnival has been celebrated every August Bank Holiday since 1966, and has always been about celebrating the freedom of the Caribbean people. The popularity that the Notting Hill Carnival has shows the growing solidarity across all communities, ethnicities, ages and races. The mere mention of this festival is a celebration for people and for freedom the world over.

The panel consisted of, Nicholas Negroponte (Founder and Chairman of One Laptop per Child), Erik Hersman (Co-founder of Ushahidi, AfriGadget, and iHub), and Herman Chinery-Hesse (Chairman of the SOFTtribe). Sir Bob Geldof was due to chair the event but after being held up with filming commitments in Australia was replaced by BBC’s technology correspondent, Rory Cellan-Jones.

The evening served as an insight into how digital technology is transforming the very landscape of Africa and providing efficient solutions to decade-long problems that have plagued the continent. Nicholas Negroponte began the discussion by providing an overview of his non-profit organisation, One Laptop per Child. Negroponte’s venture strives to do exactly what it says on the tin, to provide each child living in a developing country access to their own laptop. By making available to children new, affordable technology, young generations in underprivileged countries are being given a gateway into a new and interactive form of education that is proving to ignite their passion for learning.

Putting the power of technology in children’s hands has a significant ripple effect across the developing world. It has been witnessed that half of the children that are benefiting from the One Laptop per Child scheme are going on to teach their parents how to read and write. Providing children access to new technology in places like Africa will allow for endless possibilities in developing poorer communities and highlights the fact that through technology, children can really be the agents of change for the future.

Negroponte’s vision of technology being utilised to allow African’s control of their own future is something that was echoed by Herman Chinery-Hesse. Often described as the Bill Gates of Africa, Chinery-Hesse detailed how his businesses are helping to break down the artificial boundaries that exist in Africa through the use of digital technology. Erik Hersman also noted that in Kenya alone, nine million people (22% of the population) are internet users, of which 99% are mobile internet users. Further to this, mobile internet usage is predicted to experience a growth of an astonishing 843%. The potential of this digital market cannot be missed and Chinery-Hesse believes that in order for long-term development to succeed, Africa must ‘take control and nurture its own digital future’.

Responding to a final question by Rory Cellan-Jones, the panel envisioned how they see the technological landscape of Africa in five years’ time. Negroponte mentioned that his laptops will undoubtedly be upgraded to tablets to keep in tune with the current changes in modern technology. Hersman foresees the flow of information being consistently fed from the bottom, upwards; a technological revolution if you will, empowering African citizens. And lastly, Herman showed a confidence that in five years’ time the presence of indigenous businesses will be increased, which will eventually lead to a more consistent spread of wealth across Africans in the continent.

It’s understandable that these three men have such high hopes for Africa’s medium-term development through technology. For too long Africa has been kept out of the loop when it comes to the evolution of digital technology, but it is now their time to catch up. We are already beginning to see the transforming effect of technology in Africa; one can only imagine what we will be seeing in the next decade.

The paper which is a rebranding of the goals and objectives of the department for international development (DFID) commits additional support for the world’s poorest people affected by conflict, climate change and the global economic crisis.

The white paper recognises the ‘unique contribution of faith groups’ in delivering development on the ground, in providing advocacy leadership and in connecting communities in the UK and overseas.

The Archbishop said he welcomes the Labour Government’s ‘clear commitment to engage with the distinctive role of faith groups as they maintain their long-held mandate to provide direct assistance to the world’s poorest, while tackling issues of justice, peace and governance.’

Dr Williams said, ‘the department for international development’s emphasis on fragile states rightly highlights the vital contribution of faith groups in areas affected by conflict. Faith communities, including churches, are often the only viable entities in these conflict situations, continuing to respond to basic needs, when other service providers have left. It is essential that DFID’s focus on security and justice in fragile states will be matched by investment in basic services and economic and social development.’

He said ‘the Government’s commitment to provide additional public finance for climate change work is most encouraging. It is hoped that appropriate provision will be made for community based adaptation and climate resilience projects. Such projects, many undertaken by faith based organisations, enable local communities to develop their own green development pathways and thereby have a voice in decisions that shape their lives’.

In preparation for the white paper, Lambeth Palace, the official residence of the Archbishop convened two inter-faith consultations for DFID and a range of faith communities and faith-based organisations, calling for recognition of the distinctive role of faith groups in international development. The Church of England also made a written submission to the white paper process.

The churches of the Anglican Communion, with 80 million members around the world, have a long track record in relief, development and advocacy on poverty and social justice issues.

The office of the Archbishop notes the white paper’s invitation for new faith partnerships and encouraged by its promise to double support, faith groups will engage with DFID to promote sustainable development that transforms lives out of poverty.