China set to potentially take Kenya's largest port from defaulted loans..

[Nintendough]

Because Africa has dealt with centuries of people “doing good” only to take control of their resources. Furthermore the treatment of Africans by Chinese in their nations is poor, and the Chinese bring over their own poor laborers, therefore severely limiting the pool of jobs for locals.

Not to mention these chinese peasants leaving little half chinese kids behind.

 

[2Quik4UHoes]

At this late date, there are no more wakeup calls for African leaders. It’s a culture of corruption that needs to be eliminated from African politics. My hope is that the expansion of the internet exposes the younger generation of Africa to proper politics so they can see the bullshyt for what it is. Nkrumah laid things out decades ago and it’s being willfully ignored by those in power while being mostly hidden from the powerless.

 

[phcitywarrior]

Man, what’s up with Nigeria? I remember in college, or maybe shortly after, I was reading about how it was in the next class of emerging countries behind BRIC...I wanna say their acronym was MINT. But then maybe in the past 2-3 years, I’ve seen articles on how Nigeria has stalled out or even reversed course. Is it the political leadership there?

I have a love hate relationship with Nigeria. It's often been called Africa's stumbling giant because although it makes strides forward it does so in a haphazard manner.

Concerning Nigeria's MINT status, yes, the potential is there (Nigeria is already Africa's largest economy by GDP, higher than South Africa) but there are some systematic issues the country hasn't quite fixed chiefly, infrastructure, energy, domestic manufacturing, taxation.

Nigeria is a top 30 economy but it's GDP per capita is absolutely piss poor. I wouldn't say the country has stalled, but when the Nigeria hype train was very large was during the mid-2000's when oil prices were upwards of $110 a barrel. Even as oil prices have crashed, the country is still chugging along as now, oil and gas only represent 15% of the private sector business, but represent over 80% of the government revenue.

Is the political leadership there? Largely, no. Within Lagos (the commercial hub, which, if it where it's own African nation would be the 5th in terms of GDP) there's a relatively progressive business minded political class that is catching up with the times. The issue is that much of the rest of Nigerian leadership is still caught up in the past.

I'll say this, back in 2015 we saw the first democratic change in power (which I guess you could say is a good thing in terms of political progression when compared to the likes of Angola, Cameroon or DRC) but the results have been mixed.

It's painful because Nigeria is the perfectly positioned to be the powerhouse of West Africa and Africa as a whole. Yea, South Africa is well developed and all but even still it's a "black majority" nation not a "black nation" as Nigeria is. Nigeria could play such a big role not only in African development, but development within the Diaspora. There's a relationship Nigeria could forge with Jamaica, Haiti, Brazil and others due to their ties in the Atlantic Slave trade.

In summary, the diplomatic, business and technological opportunities have not yet hit the potential they should because by and large the government has thus far failed to implement the policies and develop the framework to allow the ambitions of the aforementioned thrive.

 

[Serious]

I have a love hate relationship with Nigeria. It's often been called Africa's stumbling giant because although it makes strides forward it does so in a haphazard manner.

Concerning Nigeria's MINT status, yes, the potential is there (Nigeria is already Africa's largest economy by GDP, higher than South Africa) but there are some systematic issues the country hasn't quite fixed chiefly, infrastructure, energy, domestic manufacturing, taxation.

Nigeria is a top 30 economy but it's GDP per capita is absolutely piss poor. I wouldn't say the country has stalled, but when the Nigeria hype train was very large was during the mid-2000's when oil prices were upwards of $110 a barrel. Even as oil prices have crashed, the country is still chugging along as now, oil and gas only represent 15% of the private sector business, but represent over 80% of the government revenue.

Is the political leadership there? Largely, no. Within Lagos (the commercial hub, which, if it where it's own African nation would be the 5th in terms of GDP) there's a relatively progressive business minded political class that is catching up with the times. The issue is that much of the rest of Nigerian leadership is still caught up in the past.

I'll say this, back in 2015 we saw the first democratic change in power (which I guess you could say is a good thing in terms of political progression when compared to the likes of Angola, Cameroon or DRC) but the results have been mixed.

It's painful because Nigeria is the perfectly positioned to be the powerhouse of West Africa and Africa as a whole. Yea, South Africa is well developed and all but even still it's a "black majority" nation not a "black nation" as Nigeria is. Nigeria could play such a big role not only in African development, but development within the Diaspora. There's a relationship Nigeria could forge with Jamaica, Haiti, Brazil and others due to their ties in the Atlantic Slave trade.

In summary, the diplomatic, business and technological opportunities have not yet hit the potential they should because by and large the government has thus far failed to implement the policies and develop the framework to allow the ambitions of the aforementioned thrive.

This makes me wish I had some ties to Nigeria.

I'd be blasting everyone worth a damn ear.

Crazy thing to me is, is that in theory a lot issues regard infrastructure investing in the people are relatively easy to fix and implement.

@The Wave @Nemesis thoughts?

 

[dora_da_destroyer]

I have a love hate relationship with Nigeria. It's often been called Africa's stumbling giant because although it makes strides forward it does so in a haphazard manner.

Concerning Nigeria's MINT status, yes, the potential is there (Nigeria is already Africa's largest economy by GDP, higher than South Africa) but there are some systematic issues the country hasn't quite fixed chiefly, infrastructure, energy, domestic manufacturing, taxation.

Nigeria is a top 30 economy but it's GDP per capita is absolutely piss poor. I wouldn't say the country has stalled, but when the Nigeria hype train was very large was during the mid-2000's when oil prices were upwards of $110 a barrel. Even as oil prices have crashed, the country is still chugging along as now, oil and gas only represent 15% of the private sector business, but represent over 80% of the government revenue.

Is the political leadership there? Largely, no. Within Lagos (the commercial hub, which, if it where it's own African nation would be the 5th in terms of GDP) there's a relatively progressive business minded political class that is catching up with the times. The issue is that much of the rest of Nigerian leadership is still caught up in the past.

I'll say this, back in 2015 we saw the first democratic change in power (which I guess you could say is a good thing in terms of political progression when compared to the likes of Angola, Cameroon or DRC) but the results have been mixed.

It's painful because Nigeria is the perfectly positioned to be the powerhouse of West Africa and Africa as a whole. Yea, South Africa is well developed and all but even still it's a "black majority" nation not a "black nation" as Nigeria is. Nigeria could play such a big role not only in African development, but development within the Diaspora. There's a relationship Nigeria could forge with Jamaica, Haiti, Brazil and others due to their ties in the Atlantic Slave trade.

In summary, the diplomatic, business and technological opportunities have not yet hit the potential they should because by and large the government has thus far failed to implement the policies and develop the framework to allow the ambitions of the aforementioned thrive.

repped for the insight, thanks

 

[2Quik4UHoes]

I have a love hate relationship with Nigeria. It's often been called Africa's stumbling giant because although it makes strides forward it does so in a haphazard manner.

Concerning Nigeria's MINT status, yes, the potential is there (Nigeria is already Africa's largest economy by GDP, higher than South Africa) but there are some systematic issues the country hasn't quite fixed chiefly, infrastructure, energy, domestic manufacturing, taxation.

Nigeria is a top 30 economy but it's GDP per capita is absolutely piss poor. I wouldn't say the country has stalled, but when the Nigeria hype train was very large was during the mid-2000's when oil prices were upwards of $110 a barrel. Even as oil prices have crashed, the country is still chugging along as now, oil and gas only represent 15% of the private sector business, but represent over 80% of the government revenue.

Is the political leadership there? Largely, no. Within Lagos (the commercial hub, which, if it where it's own African nation would be the 5th in terms of GDP) there's a relatively progressive business minded political class that is catching up with the times. The issue is that much of the rest of Nigerian leadership is still caught up in the past.

I'll say this, back in 2015 we saw the first democratic change in power (which I guess you could say is a good thing in terms of political progression when compared to the likes of Angola, Cameroon or DRC) but the results have been mixed.

It's painful because Nigeria is the perfectly positioned to be the powerhouse of West Africa and Africa as a whole. Yea, South Africa is well developed and all but even still it's a "black majority" nation not a "black nation" as Nigeria is. Nigeria could play such a big role not only in African development, but development within the Diaspora. There's a relationship Nigeria could forge with Jamaica, Haiti, Brazil and others due to their ties in the Atlantic Slave trade.

In summary, the diplomatic, business and technological opportunities have not yet hit the potential they should because by and large the government has thus far failed to implement the policies and develop the framework to allow the ambitions of the aforementioned thrive.

I’ve always thought of that diaspora connection especially. Nigeria could be key in forging real ties with the diaspora through business. Mutual investment across the Atlantic. Nigeria is a perfect bridge to both sides and perhaps it has to begin culturally through the diaspora returning home and the Nigerian diaspora connecting with African descendants.

Ethiopia is a frustrating country but I can’t even imagine being Naija seeing all that fukkery and corruption. Fela a legend partly based on his constant ether to the government.

 

[phcitywarrior]

repped for the insight, thanks

I cry for my beloved nation . Until there's a well functioning black state I don't think blacks anywhere in the world will get the respect they deserve.

Anyway, in a few more years I gotta be on ground as part of the solution. Just getting my education and work experience here in the US for the time being.

I'd be disgusted in myself if I didn't at least try

 

[Lord Beasley]

China only had one request. Build infrastructure. Other than that, no strings attached to how you use the money. You can't blame China for African leaders being stupid and corruptible. Especially not in this case, because PLO Lumumba, also a Kenyan, has been warning everyone for years now about the dangers of misusing Chinese loans.

This is on Kenya (and Zambia).

breh its sinister asf...its a "fool me once" type situation tho......ceptin they're foolin the fukk outta everybody for everything. its not just ports

 

[dora_da_destroyer]

I cry for my beloved nation . Until there's a well functioning black state I don't think blacks anywhere in the world will get the respect they deserve.

Anyway, in a few more years I gotta be on ground as part of the solution. Just getting my education and work experience here in the US for the time being.

I'd be disgusted in myself if I didn't at least try

i hope you stick to it, i mean, do what's best for you when that time comes, but i had handful of friends in business school who said they were going to do consulting for a few years then return to Nigeria to start social investing funds and other businesses, and here they are, still stacking chips in corporate america. i don't judge, i just know that once you get to a certain point, it's hard to walk away from the money and lifestyle to go build elsewhere.

 

[Secure Da Bag]

breh its sinister asf...its a "fool me once" type situation tho......ceptin they're foolin the fukk outta everybody for everything. its not just ports

Breh, I understand that the Chinese aren't benevolent loan givers. They gonna take as much as they can. But did anyone read the damn contracts? Someone in the gov't actually thought putting up the ports for collateral on a train station was actually a good idea. They even gave up sovereign immunity on the ports for that train station. No one in the gov't said, " let's give them something else"? No one?

 

[T'krm]

We're not having the same conversation. In fact, you two and I are arguing very different things.

Actually, no! We are speaking of exploitation, which is multi-faceted...

 

[phcitywarrior]

i hope you stick to it, i mean, do what's best for you when that time comes, but i had handful of friends in business school who said they were going to do consulting for a few years then return to Nigeria to start social investing funds and other businesses, and here they are, still stacking chips in corporate america. i don't judge, i just know that once you get to a certain point, it's hard to walk away from the money and lifestyle to go build elsewhere.

I plan to get back to Nigeria in the next 2 years prior to a potential business school. Use the time while I'm there to begin setting the foundation for my later return. I've always seen myself more in Nigeria long term as I have a better network there. I don't fault the people for stacking chips, life happens, but like you said, people get comfortable. I would also imagine maybe they're hanging around a bit longer to acquire skills. I do think some people may lack the access to get into the right circles in Nigeria. I know Wharton has African Business Forum and Harvard has ABC but even with that, it helps to have a robust well connected network in Nigeria.

I'm living small now, so I'm not "used" to a certain lifestyle. Moreover, if you land a solid position in Corporate Nigeria, you're lifestyle would be much better in Nigeria than in the US.

I think it makes more sense to go the business school after setting the foundation in Nigeria so that I know how best to utilize my MBA when I return. Corporate Nigeria while developing my ventures on the side.

 

[Robbie3000]

I cry for my beloved nation . Until there's a well functioning black state I don't think blacks anywhere in the world will get the respect they deserve.

Anyway, in a few more years I gotta be on ground as part of the solution. Just getting my education and work experience here in the US for the time being.

I'd be disgusted in myself if I didn't at least try

Don’t despair. It will happen in time. We have to remember most of these countries are less than 60 years old and are now just starting to get a sense of national identity apart from their ethnic ones.

It took Euros 1000 years to recover from the fall of Rome.

Once people have Faith in their institutions and fellow citizens, we will see Africa take off.

Can’t speak for other countries, but Kenya in many ways is a completely different country than it was when I first visited in 1998.

I’m actually headed back to Kenya in the summer to kick it and explore some business ideas. Get in on the ground floor of the growth taking place right now.

 

[phcitywarrior]

I’m actually headed back to Kenya in the summer to kick it and explore some business ideas. Get in on the ground floor of the growth taking place right now.

I was in Nairobi earlier this year. I'll def be back sooner rather than later. I'll touchbase when next I'm looking to head out there

 

[Secure Da Bag]

It took Euros 1000 years to recover from the fall of Rome.

Rome fell in 476 AD. So it's more like 1945-476 = 1469 years. But the Euros have been warring with each other for over 1950 years. Either way, it took them awhile to get it together.