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Obasanjo faults African governments on growth indicators
Obasanjo faults African governments on growth indicators
Southeast governors under pressure over zoning of Speaker
Southeast governors under pressure over zoning of Speaker
Foreign investment in Africa to reach $150b by 2015
Foreign investment in Africa to reach $150b by 2015
Africa could
attract billions of dollars in new investment over the next few years
as emerging market investors search for higher returns and foreign
perceptions of risk improve, Ernst & Young said on Tuesday.
The global
accounting firm said in a report titled “It’s time for Africa” that
foreign direct investment (FDI) into the continent was forecast to
reach $150 billion by 2015 from $84 billion in 2010, driven by strong
growth in new projects from next year.
Ernst& Young
surveyed over 562 global executives on where they would invest over the
next decade and 42 percent of them were considering investing further
in Africa while an additional 19 percent confirmed maintaining
operations in the region.
The report said the
continent was becoming increasingly attractive to international
investors planning new developments and expanding existing ones and
that perceptions were becoming increasingly positive over the longer
term.
It identified Asia as the only continent ahead of Africa in terms of investors’ perceptions.
“While Africa’s
challenges are well documented, there is an increasing recognition that
the continent is on an upward trajectory; economically, politically and
socially,” Ernst & Young’s said in its 2011 Africa attractiveness
survey.
It projected GDP to
grow to $2.6 trillion by 2020 from $1.6 trillion in 2008 and consumer
spending to increase 62 percent to $1.4 trillion over the same period.
Investors’ interest
Key sectors
targeted by investors include consumer products, construction,
telecoms, financial services and mining and metals — perceived to have
the highest growth potential over the next few years.
The survey showed
emerging market investors were positive about Africa’s attractiveness,
viewing the region as critical to their own growth, while developed
markets investors were cautious, saying that the region still needed to
develop further.
The African
continent, home to one billion people, had long been ignored by
international investors who only thought of the region in terms of
political instability and corruption.
But as the majority
of the 54 countries which make up Africa embrace democracy and install
reform-minded governments, analysts say the world’s poorest continent
and least tapped frontier markets could fast become a diamond in the
rough.
Ernst& Young
said investments in the continent by African countries grew 21 percent
between 2003-2010, but actual amounts were less than invested by other
emerging economies.
It highlighted the
high levels of risk involved in investing in Africa but said the
profitability levels compensated for the risk and that some sectors had
little competition.
“Despite the
improving perceptions of Africa, it is in competition for the
international capital and resources that will help drive and sustain
growth and social development,” it said.
“It is currently ranked in the same category as Latin America and Eastern Europe in terms of attractiveness for investors.”
REUTERS
United to rest players against Schalke
United to rest players against Schalke
With
a title-deciding match looming against Chelsea on Sunday, Manchester
United manager, Alex Ferguson has decided to rest some of his players
against Schalke today in the second leg of the UEFA Champions League.
United hold a handsome lead of 2-0 going into today’s match.
United did not play
well against Arsenal on Sunday and it was very surprising that as soon
as Arsenal could get a hold of Wayne Rooney, United lost all their bite
going forward. So Ralf Rangnick and his players will have at least one
strategy today; hound Rooney wherever he is on the pitch.
Another factor is
that some players may be prioritising matches in their head – thinking
which match is more important, so it will be Ferguson’s job to field
the players that will concentrate against the Germans for 90 minutes.
Ferguson hinted on
what his line-up could look like today; “I will make some changes on
Wednesday without question. I will bring Paul Scholes back in, Dimitar
Berbatov, Michael Owen.
“We’ll need to do
that but I will probably keep my experienced players at the back. We
have a big week ahead. Wednesday is a European semi-final second leg
and then the game on Sunday. Two massive games, so we will regroup and
freshen it up.” Schalke 04 goalkeeper,
A class apart in Gelsenkirchen
Manuel Neuer
produced a series of saves at the Veltins Arena to deny the Red Devils
a more comprehensive victory and the German number one will try to deny
United more goals as he visits the Theatre of Dreams for the first time.
The first leg
showed that United were far superior to their opponents but they need
another stellar display tonight to book their ticket to Wembley for the
finals on May 28 to face Barcelona.
But legendary
Schalke striker, Raul remains optimistic and that optimism must have
arisen from the 71 goals that the Spaniard has scored in European
competitions.
Raul said, “There
are 90 minutes left and we’re not going to just give up; we know it’s
very difficult but will try to at least leave a good account of
ourselves.”
Schalke lost 4-1 to Bayern Munich at the weekend but that defeat could be easily blamed on preparing mentally for today’s match.
One of the star
performers for the Germans in that first leg loss was Neuer, who is
also one of the goalkeepers that United is looking at to replace Edwin
van der Sar, who is retiring at the end of the season. But Neuer’s
agent, Thomas Kroth has said Neuer was not thinking of playing in
England.
“Manuel is not
interested in joining Manchester United. He is not interesting in
leaving Germany. He will stay in Germany. That is definite.”
There is also a definite time line to who qualifies for the final of the Champions League and that time line starts at 19:45!
‘Argentines are not magicians’
‘Argentines are not magicians’
As
the Super Eagles gear up for the June 1 friendly match with Argentina,
first vice-chairman of the Nigeria Football Federation, Frank Umeh
believes that the Nigerian team can earn a rare victory over the
two-time former world champions.
“Argentines are not magicians; we can beat them,” he said.
“With adequate preparation for the match and the full commitment of the players we can talk of victory.”
Already the Super
Eagles coach, Samson Siasia is expected to make public this week, the
list of players that will be playing the highly anticipated friendly
match, with Wigan forward Victor Moses expected to make the list ahead
of his debut for Nigeria.
The Super Eagles
were defeated 1-0 the last time they faced the Argentines at the 2010
World Cup; a match that witnessed a string of spectacular saves from
Hapoel Tel Aviv shot stopper Vincent Enyeama who emerged as Nigeria’s
hero on the day.
Time and time
again, Enyeama prevented the Argentineans, in particular two-time
reigning FIFA Player of the Year, Lionel Messi, from hitting the back
of the Nigerian net.
And the Nigerian
shot stopper, who was in a Lagos yesterday to attend a function, said
he was also looking forward to the match and hopes for a favourable
result.
“It’s going to be great match, I am really looking forward to the match,” he said.
Enyeama against Messi
Asked about the
secret of his splendid display last time out against the Argentines,
Enyeama said his personal resolve to put smiles on the faces of
Nigerians accounted for his heroics.
“It wasn’t about
not allowing Messi to score or any other thing, I just wanted to put
smiles on the face of Nigerians and that was all I did even though we
eventually lost,” he said.
Aside the June 1
date, the Super Eagles are still expected to play another exhibition
match with Argentina in Bangladesh later in December.
Although Nigerian
and Argentinean teams have met on a number of occasions, especially at
age-grade level, the first game between both countries at senior level
was at the 1994 World Cup in the United States of America where the
South Americans ran out 2-1 winners after current Super Eagles coach,
Siasia had shot the Super Eagles into the lead.
Then came a
goalless draw the following year at the FIFA Intercontinental Cup, the
forerunner to the present-day FIFA Confederation Cup, before a 1-0 win
by the Argentineans at the 2002 World Cup.
That was the last time both sides met at senior level until last year’s World Cup encounter.
