Africa

How An African ‘Princess’ Banked $3 Billion In A Country Living On $2 A Day

"For the past year Forbes has been tracing Isabel dos Santos’ path to riches, reviewing a score of documents and speaking with dozens of people on the ground. As best as we can trace, every major Angolan investment held by Dos Santos stems either from taking a chunk of a company that wants to do business in the country or from a stroke of the president’s pen that cut her into the action. Her story is a rare window into the same, tragic kleptocratic narrative that grips resource-rich countries around the world. For President Dos Santos it’s a foolproof way to extract money from his country, while keeping a putative arm’s-length distance away." Continue reading →

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Bono: “Capitalism takes more people out of poverty than aid”

"Bono (nee Paul David Hewson) is the lead singer in the rock group U2, one of the most successful rock groups in history. Bono also became a major proponent of greatly expanded U.S. foreign aid and other government programs (including debt cancellation) to alleviate the dire plight in the world of HIV/AIDS, malaria, abject poverty, and other issues. In a speech at Georgetown University, Bono altered his economic and political views and declared that only capitalism can end poverty. 'Aid is just a stopgap,' he said. 'Commerce [and] entrepreneurial capitalism take more people out of poverty than aid. We need Africa to become an economic powerhouse.'" Continue reading →

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Doctors Without Borders closes all operations in Somalia after 22 years

"Somalia’s embattled government, selected in November in a UN-backed process, was hailed at the time by the international community as offering the best chance for peace in Somalia since the collapse of central government in 1991. A 17,700-strong African Union force fighting alongside the national army has forced Shebab fighters from a string of towns in the past two years. But Somalia’s often rag-tag security forces, incorporating multiple militia forces into its ranks, has also been repeatedly accused by rights groups of a string of abuses." Continue reading →

Continue ReadingDoctors Without Borders closes all operations in Somalia after 22 years

Targeted booze strikes: Aerial drone drops beer at South Africa music festival

"Revellers at a South African outdoor rock festival no longer need to queue to slake their thirst — a flying robot will drop them beer by parachute. After clients place an order using a smartphone app, a drone zooms 15 metres (50 feet) above the heads of the festival-goers to make the delivery. Carel Hoffmann, director of the Oppikoppi festival held on a dusty farm in the country’s northern Limpopo province, said the app registers the position of users using the GPS satellite chips on their phones. 'The delivery guys have a calibrated delivery drone. They send it to the GPS position and drops it with a parachute,' he explained." Continue reading →

Continue ReadingTargeted booze strikes: Aerial drone drops beer at South Africa music festival

What Egypt Tells Us About U.S. Foreign Aid

"What do Angola, Cambodia, Chad, Haiti, Laos, Somalia, Sudan, Tajikistan, Turkmenistan, Yemen and Zimbabwe have in common? They all receive U.S. foreign aid and, according to Transparency International’s Corruption Perceptions Index, boast some of the most corrupt governments in the world—strong-arm governments in most cases. If money can’t buy the United States influence, it’s also not buying America a lot love. According to a recent Pew poll, in Egypt, Jordan and Pakistan only 16, 14 and 11 percent of their respective populations have a favorable view of the United States. Egypt is a clarion call to stop throwing good money after bad." Continue reading →

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Zimbabwe to Seize Mines While Compensating Banks

"The government and black Zimbabweans will take half of the value of assets it has identified in the economy, he said. The state empowerment fund has so far acquired about $1 billion in assets, he said. The government will open a new stock exchange to trade the black-owned stakes in the companies, he said. Trading at the Harare Stock Exchange may start within 100 days of the new government taking office and will only be open to black Zimbabweans, he said. Investments in Zimbabwe will be protected by the government as long as companies do not seek to exploit the country without its people benefiting, Kasukuwere said." Continue reading →

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When “Diplomats” Aren’t Suborning Another Country’s Rulers, They’re Killing Its Citizens

"US diplomat Joshua Walde killed Haji Hassan Ali Lukindo, 43, when his car crashed into the minibus carrying Mr. Lukindo. The deceased leaves his wife of fourteen years, now expecting their fourth child. 'We have been left destitute since Haji was killed,' the widow says. 'I have no means to support our three children, and have to depend entirely on a well wisher for rent, food, school fees and daily living expenses.' And the diplomat? 'He has left Kenya…he is a diplomat so had immunity and was free to go,’ a senior police officer said…” Continue reading →

Continue ReadingWhen “Diplomats” Aren’t Suborning Another Country’s Rulers, They’re Killing Its Citizens

Somalis Face a Snag in Lifelines From Abroad

"Humanitarian groups, politicians and Somalis themselves are now sounding the alarm over plans by the British bank Barclays to suspend the accounts of a number of money transfer companies used to send money to developing countries — rather than risk a run-in with regulators over potentially abetting the financing of terrorists or money laundering. The looming cutoff, expected to occur next Saturday, comes at a time when more and more Somalis have returned from abroad to invest in their home country, build new businesses and jump-start the nation’s economy after years of chaos." Continue reading →

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The green shoots of recovery? Morocco considers the legalisation of marijuana cultivation

"Mustapha Tahiri, a cannabis farmer in northern Morocco, looks forward to the day he can sell his crop without worrying about being jailed. If politicians in the country’s Islamist-led government have their way, that isn’t too far off. At least 800,000 Moroccans live off illegal marijuana cultivation, generating annual sales estimated at $10bn, or 10 per cent of the economy, according to the Moroccan Network for the Industrial and Medicinal use of Marijuana, a local charity. Morocco, with a population of 32 million, is Africa’s sixth-largest economy. Legalisation would allow farmers to sell to the government for medicinal and industrial purposes rather than to drug traffickers." Continue reading →

Continue ReadingThe green shoots of recovery? Morocco considers the legalisation of marijuana cultivation