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October 10, 2019

Sub-Saharan Africa
Rich People and Wealth in Africa

Rich people are everywhere, and they can have something to say about the level of economic development in their home countries. Afrasia Bank and New World Wealth have just published the 2019 Africa Wealth Report, which includes North Africa and African island states in the Atlantic and Indian Oceans. It identifies the continent’s six wealthiest cities, defined as total individual private wealth—equities, real estate, businesses—less liabilities. They are Johannesburg, Cape Town, Cairo, Lagos, Durban, and Nairobi.

Visitors walk past a reception with an electronic board displaying movements in major indices at the Johannesburg Stock Exchange building

February 13, 2019

Nigeria
Nigeria Is Oil Dependent, not Oil Rich

At a business breakfast on February 7, Doyin Salami pointed out the elephant in the living room of Nigeria’s economy. The country is not oil rich; rather it is oil dependent. He asked attendees to acknowledge this distinction.

Nigeria-Oil-Pollution-Rivers-State

January 2, 2020

Sudan
Sudan’s Transformative Year and the Challenges Ahead

2019 brought spectacular change to Sudan. It’s hard to overstate the astonishing distance the country has traveled over the past year. Recent headlines feature reports of truly unfettered humanitarian access, the conviction of former President Omar al-Bashir on corruption charges, and concrete steps on the part of the state to promote religious tolerance.

A Sudanese man wears a national flag and flashes the victory sign as people gather during the first anniversary of the start of the uprising that toppled long-time ruler Omar al-Bashir, in Khartoum, Sudan December 19, 2019

May 23, 2018

Nigeria
Nigeria's Dangote, Africa's Richest Person, Became Rich at Home

Outside of business and financial circles, Dangote is not well known in the United States. Perhaps that is largely because his business interests—banking, cement, sugar, salt, agriculture, and manufacturing—are centered in Nigeria and Africa rather than overseas.

Nigeria-Aliko-Dangote-Africa-Richest-Person

November 14, 2019

Mali
Foreign Troops Fighting Jihadists in the Sahel Face Criticism as Terror Grows

In response to the proliferation of ostensibly jihadist groups in the Sahel, governments have deployed more than 20,000 international and local troops, comprising 4,500 French soldieries, 13,000 UN peacekeepers, and about 5,000 troops connected to the G5 Sahel—an initiative godfathered by France and including Burkina Faso, Chad, Mali, Mauritania, and Niger. But terror groups have endured and grown more deadly.  

A French soldier kneels with his weapon while a camel stands in the background in a semi-arid landscape.

November 8, 2019

Nigeria
Middle Class Nigerians Struggle to Afford Housing in Lagos

Housing for professionals working in the modern economy are challenged in most of the world’s mega-cities. Lagos is no exception, as profiled by the BBC. Its reporter estimates that “middle-to-high-income” housing can cost between $5,000 and $40,000 a year. But the practice of paying a year’s worth of rent upfront sets Lagos apart: the BBC’s reporter was asked for between $11,000 and $22,000 for a two-bedroom apartment with electricity in a good Lagos neighborhood, Victoria Island.

Yachts seen docked at the marina in front of housing complex building

October 16, 2019

Turkey
The President's Inbox: Henri Barkey and Steven Cook on the U.S. Withdrawal from Syria

The latest episode of The President’s Inbox is live. I sat down with Henri Barkey, CFR’s adjunct senior fellow for Middle East studies, and Steven Cook, CFR’s Eni Enrico Mattei senior fellow for Midd…

A boy waves a Turkish flag as a Turkish military vehicle drives through a town near the Turkey-Syria border on October 16.

March 27, 2014

Sub-Saharan Africa
Really, Really Rich People in Africa

According to Forbes, the first African ever has entered into the “top 25” of the world’s billionaires. He is Aliko Dangote, number 23. Forbes says that his net worth is now U.S. $25 billion up from $…

Dangote

October 11, 2019

United States
Happy 244th Birthday to the U.S. Navy!

The U.S. Navy turns 244 years-old this weekend. On October 13, 1775, the Continental Congress commissioned two ships, each with eighty sailors, “for intercepting such transports as may be laden with …

U.S. Navy

September 20, 2019

Global Governance
Five Centuries after Magellan, Globalization Needs to Grow Up—and Fast

On this anniversary of Magellan's first expedition to circumnavigate the globe, we should reflect on the trajectory globalization has taken—and adopt a more cosmopolitan approach to life on our shrin…

17th Century Map