Namibia Scraps Plan to Force White-Owned Businesses to Sell 25% Stake to Blacks

Namibia Scraps Plan to Force White-Owned Businesses to Sell 25% Stake to Blacks Namibia has scrapped a clause in its economic empowerment framework that would have forced white businesses to sell a 25% stake to previously disadvantaged blacks, President Hage Geingob said on Wednesday. Making the announcement during his state of the nation address, Geingob said a revised…

Hail to (King) George Weah, Liberia’s New President, Facing Very Old “Wicked Problems”

For the first time since 1944, Liberia will have a democratic transfer of power as former soccer star George Weah is sworn in as the country’s new president today (Jan. 22). Weah won the presidency after run-off elections last December with 61.5% of votes. He takes over from Ellen Johnson Sirleaf, Africa’s first elected female president, who…

Zambia: Corruption, Creeping Authoritarianism and a Foreign Minister’s Resignation

Zambia’s foreign minister has announced his resignation in a scathing Facebook post, denouncing the country’s “path of insatiable greed and shame”. Henry Kalaba said his decision was prompted by the “swelling” levels of corruption “perpetrated by those who are expected to be the solution”. Analysts suspect the move is an attempt to pressure President Edgar…

President-Elect Weah Says Liberia ‘Open for Business’, Vows to Fight Corruption

President-Elect Weah Says Liberia ‘Open for Business’, Vows to Fight Corruption   Liberian President-elect George Weah on Saturday declared the country open to investment and pledged to tackle entrenched corruption, in his first speech to the nation since decisively winning an election this week. Speaking in front of reporters and aides packed into a small…

How Corruption Delivered Quadruplets in Nigeria and Delegitimized Buhari’s Anti-Graft Posture

  How Corruption Delivered Quadruplets in Nigeria and Delegitized Buhari’s Anti-Graft Posture Tuesday, 10 October 2017 Corruption has given birth to quadruplet or quadrupled in Nigeria since the inception of the Buhari/Osinbajo Administration in late May 2015. It has also made the Buhari/Osinbajo Administration a meddlesome interloper in matters of fight against corruption in the…

A New Field of Economics Is Emerging Out of Zimbabwe’s Rogue Currency Crisis

A New Field of Economics Is Emerging Out of Zimbabwe’s Rogue Currency Crisis   After defying economic gravity for a year, Zimbabwe‘s homemade US dollars have fallen to earth with a bump. Rumours the central bank was buying up black market US dollars last month with one of its own versions of the currency created panic in a country…

A New Generation of Giant Chinese Oil Firms Might Displace the Stars That Made China Premier Oil Buyer

  A New Generation of Giant Chinese Oil Firms Set to Displace the Stars That Made China Premier Oil Buyer by  Bloomberg | Alfred Cang & Serene Cheong | Monday, October 02, 2017 A new generation of firms building some of the globe’s biggest plants are threatening to eclipse China’s independent refiners. (Bloomberg) — China’s…

Recurring Threats to Libya’s Giant Sharara Oilfield and Impacts on OPEC Production-Cuts

  Libya’s giant Sharara oilfield closed as gunmen press demands Reuters  OCTOBER 2, 2017 TRIPOLI (Reuters) – An armed group forced Libya’s giant Sharara oilfield to close late on Sunday, shutting off production of more than 230,000 barrels per day (bpd), the head of the state oil company said. Libya’s National Oil Corporation (NOC) declared…