Nigeria

At the start of this year, Financial Times declared Africa to be “the new battleground for global domination among hotel groups.”  The expected launch today of a $48.8 million Initial Public Offering (“IPO”) by Nigeria’s hospitality giant Transcorp Hotels indicates that Nigeria continues to be one of the top choices for investors in…

One of the most effective and innovative uses of mobile technology in recent years has been in the delivery of government services.  Yesterday, during the Corporate Council on Africa’s “Leading the Way in U.S.-Africa Investment” program, the Nigerian Minister of Agriculture and Rural Development Dr. Akinwumi Adesina detailed how mobile technology has been used to…

Last week the U.S. House of Representatives passed the Electrify Africa Act of 2014, confirming the existence of a broad, bi-partisan consensus in favor of supporting U.S. direct investment in Africa’s energy sector.  The bill, which now heads to the Senate, seeks to establish a “comprehensive United States Government policy to encourage the efforts…

In a recent meeting with the leadership of the World Bank Group, African Finance Ministers requested assistance in supporting the battle to fight what is now estimated to be over $50 billion of illicit financial flows out of Africa.  The ongoing global efforts to recover the billions of dollars allegedly siphoned by the late Nigerian…

There are many significant aspects to the recent recalculation of Nigeria’s Gross Domestic Product (GDP), which has nearly doubled in size to become the largest economy on the African continent.  It is worth noting that the country’s film industry, known as Nollywood, had not previously registered statistically. According to the new calculation, it now…

Despite various countries making great strides forward in responsible fiscal management, recent events have reignited concerns about the integrity and independence of central banks  in Africa.  Specifically, in the past few months, one central bank governor has been suspended, another has been threatened with arrest, and a third has abruptly resigned.

Nigeria. Perhaps the most…