Aliko Dangote’s new refinery – which is expected to be operational in 2019 –represents a huge potential boost for the Nigerian economy. Of equal interest, it will also secure Dangote’s eminent position in Nigeria’s economic and political circles, potentially at the expense of some politically-connected individuals who are alleged to have improperly profited from importing refined petroleum.
While cocoa smuggling between Ghana and Ivory Coast is common, allegations of corruption and other illicit practices within Ghana's cocoa sector regulator, Cocobod, may tarnish Ghana's international reputation as a reliable supplier, and could prove more damaging to the country's lucrative industry.
As several of Nigeria’s biggest LNG contracts near their end, Nigeria LNG Ltd faces the challenging task of finding potential buyers amid a continuously evolving global LNG market. This arduous task is merely exacerbated by Nigeria’s investment environment, which suffers from security concerns, legislative and policy concerns, bureaucracy and continued rampant corruption.
Over the last decade, wealthy Angolans have increasingly invested their wealth in lucrative sectors of Portugal’s economy. Despite its less than lucrative nature, the Portuguese media sector has not escaped Angolan interest. Largely targeted by individuals with close ties to the MPLA – investing in Portugal’s media sector has gained Luanda huge influence.
Considered a key industry in Nigeria’s economy, the mobile telecoms sector has recently enjoyed a period of unprecedented growth. Yet, competition is fierce, and the mobile segment remains largely controlled by just four operators – all of whom have attracted allegations of fraudulent behaviour in an attempt to maintain their influential positions in the market.
Sonangol’s complex relationship with the Presidential office has created a de facto parallel government. Over the years it has operated outwith the traditional remit of a national oil company, exercising undue political and economic influence to the benefit of a select few. However, a combination of low global oil prices and restructuring will likely serve to finally curb its influence.
Under pressure to maintain Ethiopia’s economic growth, the government is keen to attract increased investment in its nascent manufacturing sector. A growing consumer market, a stable economy, and a large and relatively cheap labour pool, is an equation that is bound to attract interest from companies across the globe.
The Senate’s passing of the Petroleum Industry Governance Bill is a small, but significant, step towards the long-awaited restructuring of Nigeria’s troubled oil and gas industry. It is through the PIGB that the government hopes to open up the sector to more and better business opportunities through increased transparency, better accountability and clearer regulations.
In a matter of weeks, the introduction of three new laws has completely changed the legal and regulatory landscape of Tanzania’s extractives industry, risking the country’s reputation as one of Africa’s most attractive investment destinations. As Acacia has discovered, this emerging environment is not a welcome one.
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Nigeria has become one of Turkey’s most important providers of liquid natural gas (LNG), and with the LNG industry in both countries gaining increasing prominence, LNG trade between the two is likely to continue into the foreseeable future.
A shortage of reliable power in Ghana continues to be a major obstacle for potential investors, but as the new government attempts to make good on its promise to develop the economy and attract investment, solving the power crisis is becoming a priority.
This is Part II of a two-part article reviewing Nigeria’s agriculture sector – its opportunities and key players. Today’s contribution reviews the key players involved in the production of rice, wheat, and sugar.
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