Nobody knows how many billions of dollars have been squandered by Nigerian officials since the country’s independence in 1960. By even the most conservative estimates, however, the scale of graft and bad governance has been staggering, meaning that Nigeria is still far from fulfilling its great economic potential.
Africa
Latest articles from Africa
New leadership prompts high hopes for change in Nigeria
October 3, 2011Mismanagement and corruption have stifled Nigeria's economy for decades. But this year’s elections have given hope that its leaders will finally embark on the deep reforms needed to modernise the resource-rich country and enable it to finally fulfil its vast potential.
Amcon bears the burden of Nigeria's troubled banks
October 3, 2011By taking on their non-performing loans, Nigeria’s state-owned bank, Amcon, has played a pivotal role in ensuring that the country’s banks are up and running again just two years after their crisis. However, its chief executive is keen to stress that its work is far from over.
Zimbabwe's finance minister knuckles down to an unenviable task
September 1, 2011Finance minister Tendai Biti has helped turn around Zimbabwe’s economy since taking office in 2009. But he faces a tough task trying to lure foreign investors to a country whose politics are still so messy.
Redrawing the map of Africa
September 1, 2011African countries are being held back by a lack of integration across the continent. Some say it is time to redraw the map by breaking down borders and deepening regional blocs, which will enable free trade to flourish.
AFDB: All Africans must benefit from the continent's economic growth
September 1, 2011Economically, Africa has been growing apace according to Donald Kaberuka, the president of the African Development Bank. But socially the continent is still struggling. The north African uprisings show that now, more than ever, it is time to focus on what Africans actually want.
Mozambique looks to boost fledgling capital markets
August 1, 2011Mozambique’s capital and financial markets remain small and undeveloped, a situation that will have to change if the country is to sustain its rapid growth and diversify its economy.
Egypt's Commercial International Bank resilient in the aftermath of revolution
August 1, 2011Egypt’s banks faced the most trying of conditions early this year with the overthrow of president Hosni Mubarak and the subsequent economic collapse. But Hisham Ezz Al-Arab, head of the Commercial International Bank says that businesses should thrive in a more open political system.
Mozambique looks beyond mega projects
August 1, 2011Mozambique’s economy is booming and unlikely to slow down anytime soon. But the majority of the growth is down to its abundant natural resources, which has not trickled down to the bulk of the population. The government is now focusing on boosting the rest of the economy.
Takeovers loom as Ghanaian banks reach inflection point
June 30, 2011Ghana’s banks have benefited from a booming economy over the past 18 months, but they may have to start adapting to lower interest rates by expanding their capital markets services and offering more sophisticated products – or risk being bought out in a wave of consolidation.