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Carnegie Endowment for International Peace
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Summary: Many African countries have placed economic diversification high on the policy agenda, yet they first need to define what it means in their specific structural and socioeconomic contexts.
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Summary
For decades, economic diversification has been a policy priority for low- and middle-income economies. In the words of former managing director of the International Monetary Fund (IMF), Christine Lagarde, “We know that economic diversification is good for growth. Diversification is also tremendously important for resilience.” Unfortunately, this goal continues to elude many African countries. In fact, the continent is home to eight of the world’s fifteen least economically diversified countries. This reality weakens the foundation of their economic transfomation and slows their pace of progress. It also makes these countries part
Today, a prophet is recognized by his own people
JAN 3, 2021
Pictures, they say, sometimes speak louder than words. To some extent, that might be true. It is just as these colourful pictures captured the vibrancy of the chieftaincy title-taking ceremony of Professor Kingsley Chiedu Ayodele Moghalu, Deputy Governor of the Central Bank of Nigeria (2009-2014) and Presidential candidate of the Young Progressives Party (YPP) during the 2019 presidential elections. The event took place in his native Nnewi Community on Monday 28 December 2020.
Professor Moghalu was conferred with the traditional title of “Ifek’ego” – meaning “Greater than Money” – by the traditional ruler of the Ancient Kingdom of Nnewi, HRH Igwe Dr. Kenneth Orizu III at the Igwe’s 57th annual Ofala celebration. The Igwe celebrated the Ofala on his 95th birthday anniversary and used the opportunity to honour a few indigenes of the community who distinguished themselves in various disciplines. Professor