Chinese economic presence in Africa comes in for a lot of criticism: the projects to which they contribute financing favor foreign companies while leaving local contractors behind – or so the critics say. The Chinese are also known for bringing in their own people to do the work. In Kenya, for instance, there has been a recent […]
Pan-African Banks: Turning Around a Bad Reputation
Unfortunately, when we think about Nigerian banks, what immediately comes to mind are those e-mails we’ve all received requesting a transfer to an obscure account. However, not all Nigerian banks are alike. Following a privatization and liberalization period, a process of industry consolidation started in 2005. A capital requirement was imposed of naira (N) 25 […]