Tag Archives: World Bank

Aljazeera focuses on Nigeria

Dr Okonjo-Iweala, the returning finance minister and new economy Czar (couldn’t resist that one) starts talking at about 4:30. She talks about agriculture, manufacturing, job creation and even Nollywood. I don’t yet have an opinion on her and her new team  –  it is much too early – but in a few months, one should… Read More »

Friday links

1. Another one strikes black gold (trying desperately to resist using the line from Queen’s popular song) 2. Can stocks be safer than bonds (strange times, right?) 3. Dr Ngozi Okonjo-Iweala, formerly of World Bank, then of Nigeria’s finance ministry, then of World Bank, returns to take charge of Nigeria’s economy 4.  Commentary on Islamic finance… Read More »

Europe and America’s ‘master narratives’ of Africa

G. Pascal Zachary in Fanzine: The master narratives about Africa are inevitably political; art about Africa and Africans, especially art created by non-Africans, inevitably becomes intertwined with the historical use and abuse of the African imaginary. The political entanglements of literary artists engaged with African affairs are complicated by the emergence of a new humanitarianism,… Read More »

On the similarities between the financial rhetorics of colonialism and development

Since I have a background in Development Studies, and I am currently trying to develop a research plan for an ethnographic study of the Nigerian financial sector, the following, from Bill Maurer, Professor of Anthropology and Director, Institute for Money, Technology and Financial Inclusion, University of California, Irvine, resonates quite powerfully with me: Because European systems of… Read More »

Why can’t African access global payment services?

Apparently, the fairly fragmented but resilient world of money transfer is getting consolidated: Sigue, a US money-transfer company strong in Latin America, is buying the money-transfer business of Coinstar for $41.5m. Coinstar’s network allows users to transfer cash to 23,000 points worldwide – and Sigue’s CEO, Guillermo de la Viña, says the acquisition will make his company… Read More »

World Bank cautions on land acquisition in Africa

I first read of land acquisition deals in Africa about two years ago.  It was between South Korea’s Daewoo and the Madagascar government, and the details included leasing the land for 99 years, mainly for farming. The produce was to be exported, but Daewoo promised to invest 6 billion dollars over a period of twenty… Read More »

A brilliant review of Paul Collier’s The Bottom Billion and Wars, Guns and Votes

Extracts: Collier’s work is not informed by any explicit, overarching theory of development or any historical perspective that might inform one; nor does he offer any social analysis. There is an implicit theory of human behaviour, which is radically reductionist—individual economic self-interest rules. In this view, history appears to be a continuum of ‘14th-century reality:… Read More »

Intra-African trade and development

Ms Ngozi Okonjo-Iweala, Nigeria’s former minister for finance, and currently a managing director of the World Bank: intra regional trade in Africa remains low and accounts for less than 10% of total trade . Between 1999 and 2006, for example, intra-African trade increased by an average of just 14 per cent per year, while trade… Read More »