🔅 Rwanda: From Peacekeepers to Business Keepers in Mozambique
Dangote's Steel Plant Dreams Go Cold & Tragedy Strikes Southern Ethiopia
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Aliko Dangote's Steel Plant Dreams Go Cold: A Tale of Monopoly Fears and Government Backlash
Africa's richest man, Aliko Dangote, is pulling the plug on his plans to build a new steel plant in Nigeria. Why? Well, it seems the Nigerian government isn't too keen on Dangote cornering yet another market.
Dangote, who recently launched a $20 billion oil refinery, had his sights set on constructing a 5,000-ton steel plant to supply West Africa. But after accusations of monopolistic intentions, he's decided to step back.
"Our own board has decided that we should not have the steel plant. If we do, we will be called all sorts of names," Dangote said at a media briefing.
The Nigerian government recently claimed Dangote had requested the suspension of diesel and aviation fuel imports, which would effectively hand his refinery a monopoly. Dangote found these accusations "very disheartening."
In his defense, Dangote argued that he's not the only player in town. "Whatever Dangote was given, other people too were given. In fact, some of them, they even got more than us," he said. He even encouraged other Nigerian investors to bring their money back from Dubai and other parts of the world to invest in their "Fatherland."
Meanwhile, Dangote's refinery is churning along, producing aviation fuel, naphtha, and diesel. He's even had to defend the quality of his diesel against allegations from Nigerian regulators. According to Dangote, his diesel is cleaner than imported varieties, with plans to make it even cleaner by the end of the month.
The refinery is set to start gasoline production in August, ramping up to about 550,000 barrels a day by year-end. That's a lot of fuel for a country that's been struggling with energy shortages.
So, what's next for Africa's richest man? With the steel plant off the table, perhaps he'll turn his attention to a new venture. After all, when you're worth billions, there's always another market to conquer - or in this case, carefully avoid conquering.
Rwanda's Expanding Footprint: From Peacekeepers to Business Keepers in Mozambique
It seems Rwanda's ruling party is now guarding more than just borders - they're guarding gas projects too.
Isco Segurança, a joint venture with strong ties to Rwanda's ruling Rwandan Patriotic Front (RPF), has landed a cushy gig providing security for TotalEnergie's $20 billion liquefied natural gas project in Mozambique.
This comes three years after Rwanda deployed 4,000 troops to help quell an Islamist insurgency in the region. Now, it appears they're not just keeping the peace, but also keeping an eye on business opportunities.
Rwanda's President Paul Kagame, fresh off a landslide re-election victory (99% of the vote), seems to be playing a game of "follow the army, follow the money." Since 2021, several Rwandan companies have set up shop in Mozambique, dabbling in everything from security to construction and mining.
But it's not just about guarding gas projects. Another Rwandan-linked company, Radarscape, scored a deal to build a solar plant for the LNG project.
While Rwanda's commercial expansion might look impressive on paper, this Financial Times article asks how exactly Rwanda is funding its costly peacekeeping mission in Mozambique?
Critics argue that Rwanda's military deployments are being used as a Trojan horse for economic interests. But hey, haven’t we seen this happen elsewhere?
Tragedy Strikes Southern Ethiopia: Landslides Claim Over 156 Lives
In a devastating turn of events, southern Ethiopia has been hit by a series of deadly landslides, with the death toll now surpassing 156. This grim news comes from local officials in the remote mountainous area of the Gofa zone, where two major incidents occurred on Sunday evening and Monday morning.
The scene is one of heartbreak and chaos. Hundreds of people were gathered at the site, desperately digging through the dirt in search of survivors. The landscape itself tells the story of destruction - a hillside partially collapsed, exposing a large patch of red earth where homes and lives once stood.
Meskir Mitku, the general administrator of the Gofa zone, painted a somber picture of the tragedy's reach, noting that women, children, and police officers were among the casualties.
After heavy rains on Sunday night triggered the first landslide, locals and police gathered on Monday morning to help with rescue efforts. It was then that a second landslide struck, tragically claiming the lives of many who had come to help.
This disaster isn't an isolated incident. Southern Ethiopia has been battling heavy rains and flooding for months.
Food for Thought
“Be a mountain or lean on one."
— Somali Proverb
It is disheartening to read that nigerian authorities are labeling Dangotes business ventures as monopolistic! Shocking, in fact- would they rather it was a European owned enterprise that was developing the steel industry in Nigeria? The Western & some Asian countries support their country men/women where economic development is concerned - why is it seemingly so difficult to accept super-wealth in our continent by an individual? Why are we afraid to minimise or curb monopolistic tendencies through regulation, procurement, supply chain measures that will ensure dilution & diversification within that value chain of steel manufacturing through incorporating other business players required in that ecosystem ? What is more important for the economy & country? Is it to continue importing a product that can be locally manufactured or rather prevent a monopoly? This unwarranted concerns about preventing dangote's monopoly, in my view, seems like jealousy disguised as business /economic stricture.