Guinea coup is win for Australia and Brazil 6 Sep 2021 Soldiers have deposed the West African nation’s president, Alpha Condé. Besides disruption to bauxite exports, the upheaval may upend development of the Simandou mine’s 8.6 billion tonnes of iron ore deposits, capable of adding 10% to global output. Rival diggers will be smiling.
Franc gives West Africa good reason to like France 4 Feb 2019 Italy’s 5-Star says Paris is fuelling unemployment and migration by backing the region’s single currency. It’s true the 74-year-old franc keeps the zone’s 150 mln people oddly close to their old master. But its longevity proves the merits of stable prices over cheaper exports.
Faith in Bolloré brain trust resists Africa probe 25 Apr 2018 Shares in Vincent Bolloré’s group fell 9 percent after French police questioned the tycoon about dealings in Guinea and Togo. Yet Vivendi, chaired by his son Yannick, barely moved. Investors are trusting that the family’s dealmaking dynamism will survive the test.
Rio Tinto takes bitter but helpful graft medicine 17 Nov 2016 The Anglo-Australian mining giant sacked two senior employees amid a probe into payments made in Guinea. High corporate ethics are admirable but hard to apply in frontier markets. Yet turning a blind eye to corruption benefits neither resource owners nor investors.
Rio Tinto trips into bribery mine shaft in Africa 9 Nov 2016 The $67 bln mining giant has another scandal on its hands in Guinea, despite tightened controls after a similar problem in China. It's unlikely to derail the sale of Rio's remaining stake in the $20 bln Simandou iron-ore project to Chinalco, but collateral damage is unavoidable.
Ebola shows dangers, and power, of globalisation 10 Oct 2014 The spread of the deadly disease is a symptom of an interconnected yet hugely unequal global economy. At least there is enough solidarity, and enough at stake for the rich world, for belated help to reach the poor countries at the centre of the outbreak.
Ebola sets clock ticking on West African economy 1 Oct 2014 Growth may yet survive the deadly epidemic. The last four years’ 28 pct pace isn’t realistic, but controlling the outbreak soon should at least preserve investment. That won’t be easy, given the virus has now spread to the U.S. In saving lives and the economy, every day counts.
Fear is key to Ebola’s economic contagion 18 Aug 2014 The virus ravaging parts of Africa has yet to spread elsewhere. Yet Asia’s SARS crisis in 2003 showed how changes to behaviour can hurt growth and productivity more than an actual disease. Ebola seems harder to catch, but more deadly. That could make for a more pronounced effect.
Debt boom augurs ill for fragile African economies 22 Jul 2014 Senegal is raising $500 mln abroad. Borrowing from West African franc zone governments is set to jump 50 pct to $7.2 bln in 2014. But big trade deficits mean the region would struggle to cope with a sudden withdrawal of foreign liquidity – a frequent shift in emerging markets.