Algeria Business News

VIDEO: CNBC Interview with Joseph Wambia, CEO of Wambia Capital. Does the Recent Would-Be Terrorist Act Affect Investment Sentiment towards Africa?

Does it make sense to criminalize Nigeria, a country of 150 million people, due to the single act of one Nigerian citizen? Apparently, the US Government thinks “YES”!

Nigeria, a country that is evenly divided along religious lines between Christianity and Islam, was recently placed on the United States’ list of so-called “terrorist” countries. This list includes the likes of Iran, Sudan, Syria, Afghanistan, Algeria, Iraq, Lebanon, Pakistan, Saudi Arabia, Somalia, and Yemen. This extreme measure was taken as a response to the recent attempted terrorist attack by a Nigerian, Umar Farouk Abdulmutallab, of a Detroit-bound Northwest Airlines flight.

This is just a power play by the US government. US put Nigeria on that list because it rightfully thinks it can get away with this action … which it certainly will. The US government had to do “something” to Nigeria to show the US population that the US government was “punishing” the so-called “Nigerian terrorist country”.

Interesting proposition: how about adding UK, France, and Germany to the list? London (or Paris or Frankfurt?) is arguably the one non-Middle Eastern city with the highest probability of originating a terrorist. Of course, the idea sounds ludicrous, just as ludicrous as Nigeria being given “terrorist country” status.

ChairmanKing.com strongly condemns Umar Farouk Abdulmutallab and his attempted terrorist act. However, the US should not criminalize a country for the single act of one person.

Wambia Capital

Source(s): CNBC

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Africa – A Booming Business Opportunity for US Investors, Says US Corporate Council on Africa (CCA)

US Investing in AfricaIn one of the toughest global economic downturns in decades, the African continent continues to be one of the leading foreign direct investment destinations for U.S. businesses, according to the Corporate Council on Africa (CCA).

In fact, recent data released by the International Monetary Fund (IMF), reveals that while other regions of the world are experiencing economic decline, Africa has experienced significant economic growth over the past five years and is expected to maintain a positive growth rate of 3.5% for 2009. Read the rest of this entry »

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