John Campbell

Africa in Transition

Campbell tracks political and security developments across sub-Saharan Africa.

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Showing posts for "Investment"

Nigeria’s Cupboard is Bare

by John Campbell
Villagers stand near jerrycans containing crude oil collected at the shore of the Atlantic ocean near Orobiri village, days after Royal Dutch Shell's Bonga off-shore oil spill, in Nigeria's delta state December 31, 2011. Amnesty International called into question Royal Dutch Shell's accounting in Nigeria for oil spill amounts and causes, saying the oil major was seeking to avoid compensation payments and damage to its reputation. Picture taken December 31, 2011. (Reuters/Akintunde Akinleye) Villagers stand near jerrycans containing crude oil collected at the shore of the Atlantic ocean near Orobiri village, days after Royal Dutch Shell's Bonga off-shore oil spill, in Nigeria's delta state December 31, 2011. Amnesty International called into question Royal Dutch Shell's accounting in Nigeria for oil spill amounts and causes, saying the oil major was seeking to avoid compensation payments and damage to its reputation. Picture taken December 31, 2011. (Reuters/Akintunde Akinleye)

According to the media, President Muhammadu Buhari said on June 23 that Nigeria’s treasury is “virtually empty.” In order to document this he has promised to release a report on the size of Nigeria’s revenue and debt in about four weeks. He also says that he will recover billions of dollars that have been stolen under previous administrations, and that the United States and other countries will assist Nigeria in the recovery of the stolen money. Read more »

U.S. Efforts to Power Africa

by Guest Blogger for John Campbell
Electricity pylons carry power from Cape Town's Koeberg nuclear power plant July 17, 2009 (Courtesy Reuters/Mike Hutchings). Electricity pylons carry power from Cape Town's Koeberg nuclear power plant July 17, 2009 (Courtesy Reuters/Mike Hutchings).

This is a guest post by Aala Abdelgadir, research associate for the Council on Foreign Relation’s Civil Society, Markets, and Democracy Initiative.

While on his Africa tour in June 2013, President Obama announced a new U.S. effort to expand energy access in Sub-Saharan Africa, where two thirds of the population are without electricity. The Power Africa initiative identifies and facilitates energy transactions between private enterprises and governments in African countries to generate 30,000 megawatts of new energy and reach 60 million households and businesses by 2020. Read more »

Big Men: Ghana, Nigeria, and the United States

by Guest Blogger for John Campbell
Ebiowei, 48, carries an empty oil container on his head to a place where it would be filled with refined fuel at an illegal refinery site near river Nun in Nigeria's oil state of Bayelsa November 27, 2012. (Akintunde Akinleye/Courtesy Reuters) Ebiowei, 48, carries an empty oil container on his head to a place where it would be filled with refined fuel at an illegal refinery site near river Nun in Nigeria's oil state of Bayelsa November 27, 2012. (Akintunde Akinleye/Courtesy Reuters)

This is a guest post by Emily Mellgard, research associate for the Council on Foreign Relations Africa Studies program.

A great discovery often brings together strange bedfellows. Such is the case when the Jubilee Oil Field is discovered within Ghana’s national waters in the Gulf of Guinea. The heights and depths of the relationships between the people and groups pulled together around this oil field is the subject of the new Rachel Boyton (director) and Brad Pitt (producer) documentary Big Men. The documentary was filmed over five years from first discovery of the oil field to nearing “first oil” -when actual production begins. Read more »

Really, Really Rich People in Africa

by John Campbell
Nigeria's President Goodluck Jonathan (back L) looks on as Nigerian billionaire Aliko Dangote points to the site of a new cement plant branch during a commissioning ceremony at the Dangote cement factory in Obajana, Kogi state, June 11, 2012. (Akintunde Akinleye/Courtesy Reuters) Nigeria's President Goodluck Jonathan (back L) looks on as Nigerian billionaire Aliko Dangote points to the site of a new cement plant branch during a commissioning ceremony at the Dangote cement factory in Obajana, Kogi state, June 11, 2012. (Akintunde Akinleye/Courtesy Reuters)

According to Forbes, the first African ever has entered into the “top 25” of the world’s billionaires. He is Aliko Dangote, number 23. Forbes says that his net worth is now U.S. $25 billion up from $3.3 billion in 2007. His wealth is based on cement, but he is also investing in agriculture. Read more »

Unpacking Africa’s Growth Forecasts: Potentials and Risks

by Guest Blogger for John Campbell
Workers are seen in front the construction site of Eskom's Medupi power station, a new dry-cooled coal fired power station, in Limpopo province, June 8, 2012. (Siphiwe Sibeko/Courtesy Reuters) Workers are seen in front the construction site of Eskom's Medupi power station, a new dry-cooled coal fired power station, in Limpopo province, June 8, 2012. (Siphiwe Sibeko/Courtesy Reuters)

This is a guest post by Diptesh Soni. Diptesh is a master’s degree candidate at the Columbia University School of International Public Affairs (SIPA) studying economic and political development. You can read more by him at: https://dipteshsoni.contently.com/. Read more »

Optimism Opens the New Year in South Africa

by Guest Blogger for John Campbell
South African Reserve Bank Governor Gill Marcus shows off South Africa's new banknotes before conducting the first transaction in Pretoria 06/11/2012. (Siphiwe Sibeko/Courtesy Reuters) South African Reserve Bank Governor Gill Marcus shows off South Africa's new banknotes before conducting the first transaction in Pretoria 06/11/2012. (Siphiwe Sibeko/Courtesy Reuters)

This is a guest post by John Causey, a private equity consultant based in Cape Town, South Africa. He specializes in sub-Saharan Africa transactions, with investors mainly from the EU and US.

Last year, the rainbow nation further solidified its status as an asterisk to the Africa growth story. Read more »

Nigeria: What if Globalization Reverses?

by Guest Blogger for John Campbell
People protest on a street in Kano before the suspension of a nationwide strike by labour unions 16/01/2012. (Stringer/Courtesy Reuters) People protest on a street in Kano before the suspension of a nationwide strike by labour unions 16/01/2012. (Stringer/Courtesy Reuters)

This is a guest post by Jim Sanders, a career, now retired, West Africa watcher for various federal agencies. The views expressed below are his personal views and do not reflect those of his former employers.

According to Fortune Magazine, investments in foreign held assets are decreasing. Joshua Cooper Ramo points out that, “figures on investment in assets held overseas, probably the best indicator of enthusiasm for globalism, are drifting down toward 40 percent from more than 50 percent in 2008.”  Read more »

President Obama and Sub-Saharan Africa: What’s Missing

by Guest Blogger for John Campbell
A man with a flag stuck to his forehead waits to catch a glimpse of U.S. President Barack Obama in Accra 11/07/2009. (Finbarr O'Reilly/Courtesy Reuters) A man with a flag stuck to his forehead waits to catch a glimpse of U.S. President Barack Obama in Accra 11/07/2009. (Finbarr O'Reilly/Courtesy Reuters)

Richard Joseph is the John Evans Professor of International History and Politics at Northwestern University and a Senior Fellow with the Program on Global Economy and  Development of The Brookings Institution.  He has been deeply engaged with American policy toward Africa for a generation.  In his guest post below, Dr. Joseph analyzes the Obama administration’s June 2012 policy paper on Africa and he provides specific policy recommendations for the President’s second term. Read more »

Two Perspectives on Falling Foreign Direct Investment in South Africa

by Guest Blogger for John Campbell
South African Finance Minister Pravin Gordham delivers his annual budget speech to Parliament in Cape Town 23/02/2011. (Nic Bothma/Courtesy Reuters) South African Finance Minister Pravin Gordham delivers his annual budget speech to Parliament in Cape Town 23/02/2011. (Nic Bothma/Courtesy Reuters)

This is a guest post by John Causey, an independent private equity consultant based in Cape Town, South Africa.  He specializes in sub-Saharan Africa transactions, with investors mainly from the EU and US.

South Africa’s foreign direct investment (FDI) inflows have dropped by 43.6  percent in the first half of 2012. The decline is the largest among all developing countries. Read more »

Nigeria and Norway: Accountability Dilemmas

by John Campbell
Workers, seen through a pipe, look on at the scene of an oil pipeline fire in Dadabili, Niger state 02/04/2011. (Afolabi Sotunde/Courtesy Reuters) Workers, seen through a pipe, look on at the scene of an oil pipeline fire in Dadabili, Niger state 02/04/2011. (Afolabi Sotunde/Courtesy Reuters)

Nigeria and Norway have little in common except the first letter of their names and the fact that they produce about the same amount of oil each day. Norway on a per capita basis may be the richest country in the world, while Nigeria is among the poorest. Norway has among the world’s best social statistics, while Nigeria has among the worst. Norway has been a democracy for a long time, while Nigeria is still struggling to attain it. Read more »