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...NIGERIA $5 million Estimated fortune of the new President of Nigeria, Umaru Yar'Adua. Most of his wealth was inherited. He publicly declared his assets-an unusual move-in an effort to increase transparency 70% Percentage of Nigerians who live on less than...

Author: /time Magazine | Title: Verbatim | 7/5/2007 | See Source »

...Bible presents God's stance on same-sex relationships from the very beginning: God did not create two Adams or two Eves but one of each. Archbishop Peter Akinola of Nigeria got it right, regardless of his being considered "archconservative" in your article. The following are not his words, but God's: "Do not lie with a man as one lies with a woman; that is detestable" (Leviticus 18: 22 and 20: 13). If the Anglican community seriously considers that same-sex relationships are a matter open for discussion, then the Bible should be modified. Since the Word...

Author: /time Magazine | Title: Tending His Flock | 7/3/2007 | See Source »

...minds of people at the summit in Cape Town. "We are fighting an image problem," said Mo Ibrahim, a Sudanese-born cell-phone magnate who has created a multi-million-dollar prize to reward good political governance in Africa. Ngozi Okonjo-Iweala, an ex-Finance Minister in Nigeria known for fighting corruption, likewise lamented that the private sector "still sees Africa as a financial basket case, which it's not ... We need to focus on what's going right...

Author: /time Magazine | Title: Where Investors Fear to Tread | 6/28/2007 | See Source »

...this good cheer, it's worth keeping a sense of proportion. The World Bank says just 3% of global foreign direct investment flowed to sub-Saharan Africa in 2005. And most of the money has gone to only a handful of resource-rich countries like South Africa, Nigeria and Angola. Meanwhile, much of the continent remains desperately underdeveloped: only 22% of African households have access to electricity. That leaves plenty of opportunity for businesses to profit as the continent attempts to catch up. In recent years, for example, the number of mobile-phone subscribers in Africa has soared by over...

Author: /time Magazine | Title: Where Investors Fear to Tread | 6/28/2007 | See Source »

...report, produced by the World Economic Forum, the World Bank and the African Development Bank, rates the competitiveness of 29 African countries. Zimbabwe is described as suffering "a complete absence of property rights, high levels of corruption and a lack of evenhandedness [in government] dealings with the public." Nigeria is said to have "deteriorating institutions, including a serious security problem." South Africa, where 28% of firms see corruption as a "severe problem," is said to be hobbled by "the business costs of crime and violence and the unreliability of police services to protect from crime...

Author: /time Magazine | Title: Where Investors Fear to Tread | 6/28/2007 | See Source »

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