Zambia: Corruption, Creeping Authoritarianism and a Foreign Minister’s Resignation

Zambia’s foreign minister has announced his resignation in a scathing Facebook post, denouncing the country’s “path of insatiable greed and shame”. Henry Kalaba said his decision was prompted by the “swelling” levels of corruption “perpetrated by those who are expected to be the solution”. Analysts suspect the move is an attempt to pressure President Edgar…

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President-Elect Weah Says Liberia ‘Open for Business’, Vows to Fight Corruption

President-Elect Weah Says Liberia ‘Open for Business’, Vows to Fight Corruption   Liberian President-elect George Weah on Saturday declared the country open to investment and pledged to tackle entrenched corruption, in his first speech to the nation since decisively winning an election this week. Speaking in front of reporters and aides packed into a small…

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Alibaba Will Beat Amazon to Become the First Trillion-Dollar Internet Company, Analyst Says

MKM Partners says Alibaba can reach a $1 trillion valuation by 2020. “We think that BABA may have the best chance among Internet mega-caps to become the first $1 trillion company,” the firm’s analyst writes.   These companies are in the race to a $1 trillion valuation  14 Hours Ago | 04:32 MKM Partners predicts Alibaba will reach…

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Guinea Approves $2.8 billion Chinese Bauxite, Aluminum Investments

Guinea’s government has approved a more than $2.8 billion investment by Chinese company TBEA Co Ltd (SHA: 600089) in a new bauxite mine, an aluminum refinery and an aluminum smelter, the mines ministry said on Friday. Guinea has about a third of the world’s bauxite reserves but output has lagged, largely due to political instability.…

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Political Risks of Sudan’s 18% Devaluation its Pound Currency in January

Sudan is to devalue its currency to 18 Sudanese pounds per dollar in January from the current exchange rate of 6.7, the finance minister said on Tuesday. The International Monetary Fund (IMF) urged Sudan earlier this month to float its currency to boost growth and investment, but the government has ruled out a market-determined exchange…

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