Endemic corruption has long rendered the Nigerian Ports Authority (NPA) ineffective in its role as governor and operator of Nigeria’s maritime ports, deterring investment and limiting economic development. However, the appointment of Hadiza Bala-Usman to head the critical parastatal promises an end to this trend, as President Muhammadu Buhari’s war against corruption turns to the country’s ports.
Ghana’s inviting investment climate, and apparent commitment to the long-term development of its nascent tourism sector, is making the hospitality sector an attractive target for hotel investors looking to expand into Africa. While progress is being made, challenges remain as Ghana continues to struggle with unnecessary bureaucracy, excessive regulation and infrastructural deficiencies.
While still not considered one of Ghana’s dominant economic sectors, Ghana’s new NPP administration appears to be making concerted efforts to prop the country’s tourism sector. Over the past 12 months the government has introduced a number of key initiatives to open up the country’s tourism sector to private investment and turn the country into a leisure tourism destination.
Sport hunting in Tanzania has long been synonymous with government corruption, with access to the lucrative sector believed to be controlled by a small group of elite politicians. However, the appointment of a new Minister for Natural Resources and Tourism suggests an imminent end to this trend, as sport hunting has finally attracted the attention of President John Magufuli’s war against corruption.
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.
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