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The African Counsel
Sub-Saharan Africa Newsletter |
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March 2012 Volume 3, Issue 1
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Emerging Markets of Sub-Saharan Africa &
The U.S. Foreign Corrupt Practices Act:
A Cautionary Tale
By: Herbert A. Igbanugo, Esq.
Introduction
Of all the continents, Sub-Saharan Africa (SSA) is said to be the most fascinating and promising; but she also poses the greatest challenges. Governments, multinational corporations and other business entities in the U.S., EU, China and the Middle East now see Africa as the 21st Century's new land of opportunities. Three years ago, millions of Americans welcomed the son of an African father and an American mother, President Barack Obama, to the White House, giving hope to the entire world, especially Africans and the nation states of SSA. As the missing link in the global economy, Africa now stands at the cornerstone of growth and opportunity. SSA countries have long generated some of the highest returns on deployed capital. With twenty percent (20%) of the world's total landmass, a population of 900 million (14% of world total), and a galaxy of mineral resources, the continent has been appropriately dubbed a "sleeping beauty."
READ MORE...
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Guide to U.S. Government Export Programs and Resources for Trade and Investment
The Corporate Council on Africa, 12/2/2011
A "one-stop shop" guide now exists that outlines U.S. government supported programs and resources available to American and African companies that want to trade with and invest in one another's markets. The guide provides web links, brief descriptions, and related comments. Read more...
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Igbanugo Partners Int'l Law 250 Marquette Avenue
Suite 1075
Minneapolis, Minnesota 55401 USA
Phone: 612-746-0360
Fax: 612-746-0370
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Pan Africanists and the International Criminal Court
Pambazuka News, 3/8/2012
The recent news of the prayer meetings being held across Kenya by aspiring presidential candidates and the genocidal language being used in these political rallies are so morally repulsive that decent human beings in all parts of the world must pay attention. If abusing the idea of prayer and spiritual reflection was not bad enough, the inflammatory language is coming from individuals who have been ordered to stand trial at the International Criminal Court in The Hague on charges of crimes against humanity. These charges stem from the crimes committed against the peoples of Kenya after the 2007 elections and fraud when more than 1,100 people are believed to have been killed in organised attacks and more than 300,000 were driven from their homes or fled in the violence. Read more...
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Nigeria: Boko Haram - More Complicated Than You Think
allAfrica.com, 3/9/2012
Nothing in Nigeria is what it seems. Beneath a confusing, disorderly surface lie networks of association and obligation of which outsiders, and sometimes insiders, are unaware. Money is chopped (stolen), people paid off, budgets looted and shared. Power, political and financial, is never transparent.
In other nation states a citizen's obligations to the state or employer, trump friendship or family connections. In Nigeria the state and institutions often rank far lower than personal affiliations. Outsiders are often shocked at the way public institutions are looted and distributed to buy personal loyalty or simply given to family and friends. The state is not a revered institution serving all citizens. It is a treasure house of power and money to be captured and looted.
This, rather than Islamic fundamentalism, is the context of the tragic deaths of Chris McManus and Franco Lamolinara in a bungled rescue bid in Sokoto on Thursday. A group calling itself Al-Qa'ida in the Land Beyond the Sahel claimed responsibility and it is said to be part of Boko Haram. Officials say that the demands they had made for the release of the hostages were confused. Read more....
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Nigeria: Niger Delta Corridor Investment Opportunities
The Corporate Council on Africa, 12/15/2011
The Corporate Council on Africa's Nigeria Working Group hosted a roundtable discussion on Thursday, December 8, 2011 on "The Niger Delta Energy Corridor of Nigeria: Contracting & Partnership Opportunities for U.S. Companies" . The Niger Delta delegation highlighted efforts to boost connectivity among the many industries along the development corridor. Read more...
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Export-Import Bank's Africa Outlook for 2012 The Corporate Council on Africa, 3/7/2012 On March 6, 2012, a delegation from Ex-Im Bank led by Wanda Felton, First Vice President & Vice Chair, visited the Corporate Council on Africa to make a presentation on Ex-Im Bank's activities in sub-Saharan Africa. In addition to Vice Chair Felton, the Bank was represented by Ken Tinsley, Jeff Abramson, Rick Angiuoni, Jean Fitzgibbon, Ben Todd, Saliha Loucif and Kyle Jackson. The topics discussed included:
- Overview of 2011 activities and outlook on 2012 in key markets such as South Africa, Nigeria, Angola, Ghana, Kenya, Mozambique, and Tanzania, and in key sectors as power, transportation, water, mining, oil & gas, and aviation.
- Ex-Im Bank's portfolio of products and composition of authorizations.
- Ex-Im Bank's external and internal constraints.
- Overview of underwriting criteria for short and medium term credits.
- Several success stories of short and medium term transactions.
Read more....
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