When it comes to Africa’s leading economy, balance sheets not political histories dominate the reading lists
Within the last week, Nigeria’s economy was confirmed as the biggest in Africa. At US$510 billion, it is well over $100 bn. bigger than South Africa’s. The first Nigerian oil production company to list on the London Stock Exchange, Seplat Petroleum Development Company, raised $1.9 bn. in a day and two other well-connected local oil companies, Aiteo and Talveras, are in pole position to buy the OML 29 Block from Royal Dutch Shell for about $2.85 bn. While all that economy boosting has been going on, terrorist militias have killed at least 200 people in the north-east, posed as soldiers to abduct 200 schoolgirls and bombed the capital, Abuja, for the first time in two years, killing at least 79 people at a bus station in the Nyanya suburb.
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Promises of a bond issue and a revival in investment from a fund run by the former head of Barclays Bank offer a glimmer of hope for the government
After six months of unmitigated bad economic news, Finance Minister Patrick Chinamasa has seized on the news that the Atlas Mara fund run by Bob Diamond, a former...
The National Congress Party’s support for Egypt’s Muslim Brothers is exacting a heavy political and economic cost
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