Sub-Saharan Africa will be home to seven of the world’s ten fastest growing economies in the next five years. At a recent Thomson Reuters event, U.S. Sen. Christopher Coons joins top African investment managers and business leaders before a live audience to identify key opportunities and ways to address risks, in a panel moderated by Reuters Editor-at-Large Sir Harold Evans. The video features local investors such as Yemi Lalude of Adlevo Capital and Bismark Rewane of Financial Derivatives Company Limited as well as a number of Africa focused foreign investors. Watch the video below.
Is the new 5000 Naira note a good or bad thing? Some at the lower end of the income scale say a 5000 Naira note is superfluous since many Nigerians do not have enough money to make frequent use of it. Others argue that as Nigeria has a rapidly expanding middle class and upper class, the note will be of use to the higher income strata and will reduce bank costs of handling smaller denominations.
In other news, Dangote is apparently in talks with South African company Tiger Brands to sell a controlling stake in his flour company Dangote Flour Mills PLC for about $125 million dollars.
He also plans to spend $7.5 billion dollars in the next 4 years to expand his business.
Mobutu Sese Seko, Abacha and Babangida are there…
Nafissatou “Nafi” Diallo, the hotel maid at the Sofitel who accused Dominique Strauss-Kahn of rape has finally shown her face and gone public with her allegations of sexual assault against Strauss-Kahn. Watch the video of her televised interview at the li
Contrary to the media reports, she is NOT HIV+.
Depressing reading regarding the corruption in Nigeria’s oil industry and the shenanigans of oil companies, militants, thieves, and the police force – all engaged in corruption.
“US diplomats also referred to a complaint from one oil multinational about the Nigerian Navy, which, the complaint said, was totally incapable of protecting oil companies in the delta. When rebels attacked an oil platform in the Gulf of Guinea with a total of six speed boats, Shell employees sounded the alarm at 2:30 a.m. It was only at 7:30 p.m., after the attackers had long disappeared, that naval boats arrived — and their primary aim was to obtain supplies of fuel and food from the platform.”