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Low Oil Prices Raise Concerns over Middle Eastern Sovereign Investments

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Middle Eastern Sovereign Investments

After years of increasing allocations to sovereign wealth funds (SWF), the persisting decline in oil prices has led regional fund managers to prepare for major changes.

As Middle Eastern governments became more dependent on the influx of foreign currency from oil sales, SWFs were set up as an insurance policy against potential decreased revenue streams.

Derived from surpluses in reserves, SWFs provide a means of reallocating income into other investments in order to diversify the country’s revenue. Should funding decline, these investments could be sold on short notice to support economic growth.

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Building the Foundation of Trust from Below: Amine Mazouzi’s New Position as CEO of Sonatrach

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SONATRACH

Amine Mazouzi is one of those lucky individuals for whom changes in large Algerian companies are most beneficial. Mazouzi has recently been named CEO of Sonatrach, Algeria’s state-owned oil and gas company, which operates more than 10,000 gas stations across Algeria and produces 90% of the country’s hydrocarbons. Mazouzi’s new position does not, however, come without complications.

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Mohammed Dewji : Visionary and Leader

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Mohammed Dewji

As Billionaire Businessman and Political Philanthropist, Mohammed Dewji, Shows Us Hard Work Does Pay, and He Pays it Forward.

Mohammed Dewji is considered to be one of the most successful and accomplished people in Africa today. He is the Chief Executive Officer of Mohammed Enterprises Tanzania Limited Group (METL), a company started by his father, which has an extremely diversified presence in Tanzanian industries. Mr. Dewji owns 75% of the group and has a current net worth of $1.25 billion, according to Forbes. His passion for politics has landed him a seat in local government, which he uses to implement his vision and ideas for a better Tanzania. This position, along with his financial success has allowed him to build a foundation for philanthropic action in the areas of education, health and clean water.
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Nigeria’s New President Inherits a Country Without its Black Gold

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accrareport_nigeria-oil

Paralyzed by gasoline shortages, Nigerian authorities appear close to reaching a solution. The crisis began in early March, weeks before the 29 March election that elected Muhammadu Buhari as Goodluck Jonathan’s replacement. Nigeria has long paid oil importers subsidies to control price and guarantee a steady supply. That, however, no longer seems to be working.

Oil suppliers’ credit lines were tightened amid the falling global price of oil, a slump in Nigeria’s currency, the naira, and the unpaid debt by the former President’s government. Suppliers claim that more than 900 million euros are owed in back-payments of government subsidies.

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Nigeria’s new president vows to fight endemic corruption

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muhammadu buhari

Along with security and unemployment, Nigeria’s new president Muhammadu Buhari, has declared corruption as one of the top three challenges he plans to tackle during his term.

The 72-year-old former military ruler took office on 29 May after defeating incumbent Goodluck Jonathan in the race to run a country struggling with a waning economy, endemic corruption, rampant unemployment, and the on-going security threat from Boko Haram.

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Twitter Presence and Influence of African Leaders

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Aliko-Dangote-Biographie

“Twitter has proven to be a revolutionary social network even in politics. It is an extraordinary channel of diplomacy and of communication.” – Federica Mogherini, High Representative of the EU for Foreign Affairs and Security Policy.

Over the past eight years, the Twittersphere has expanded to incorporate mass amounts of people from all facets of the political spectrum, all over the world. A recent study under the name of Twiplomacy has amalgamated data from Twitter to categorically display political participation within the social platform. This initiative was put forth by an American agency called Burson-Marsteller, who has gathered data from the 669 Twitter accounts of government members, including world leaders, heads of states, foreign ministers, as well as public institutions in 166 countries. They used 60 variables, including the number of mutual peer connections, number of followers, number of retweets, appearance on Twitter lists, tweets per day, percentage of @replies, and the year world leaders signed up to Twitter.

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Tidjane Deme Demands Internet Investment

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tidjane-deme

In 2009, Google opened an office in Dakar, the capital of West-African Francophone country Senegal. By 2015, much of West Africa is on the Internet thanks to an increase in infrastructure development, particularly with cell phones, and the work of one man: Tidjane Deme. Deme is a 40-year-old Senegalese Internet technician educated in France, and man who has played a huge part in the Africa’s Internet explosion.

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Al-Shabab uses dirty energy to get dirty money

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Al-Shabaab fighters

In 2012, the United Nations banned wood charcoal imports from Somalia. Almost no-one took notice of the United Nations’ stand against terrorism in the horn of Africa: al-Shabab, the militant organization responsible for the horrifying attack on Garissa University in Kenya this April among other atrocities, funds the majority of its activities through the sale of wood charcoal.

Al-Shabab receives an estimated $50 million per year from charcoal exported through Somalia’s major ports.

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Japan’s Evolving Relationship with Africa

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Shinzo Abe

During Japanese Prime Minister Shinzo Abe’s last visit to Africa, he emphasized, in a press conference in Ethiopia, that Japan’s focus in the continent are “young people,” who will shoulder the responsibility for the future of Africa, and women, who will give life to the continent’s future generations. Japan presents its policies regarding Africa as altruistic and humanitarian but some critics say it is driven very much by Realpolitik. In the past century, Japan’s activities in Africa have ranged from mostly business relationships to what Japan’s Ministry of Foreign Affairs calls an aid-based diplomacy. What are we seeing now and what are Japan’s true intentions going forward?

Trade relations between Africa and Japan started developing significantly during World War I, with Egypt and South Africa being the main trade partners. Between the World Wars, substantial trade relationships developed between Japan and Uganda, as well as Egypt, both of which supplied cotton for the Japanese textile industry with Japan supplying manufactured goods.

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Oil industry leader Igho Sonami promotes social and economic influence

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igho-sanomi

Igho Sonami is one of Africa’s most socially and economically influential people today whose success is seen on an international scale. Having transformed the dynamic of the oil and power world, he has become a major success in his own right, and continues to diversify the landscape of the oil and power industries, while playing an integral role in the social and economic development of Western Africa.
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