The Africonomist

The Africonomist, launched in Feb. 2009, is a financial newsletter focused on investments and economic development in Africa.
Our primary goal is to inform our readers about developments shaping the economic landscape in Africa.

The Maiden Edition
The first edition of The Africonomist was published in February of 2009. The maiden edition contained a report on a $578 million settlement in a bribery case involving KBR, its parent company Halliburton and Nigerian officials. The Africonomist

Bogus Settlement
In the September issue, The Africonomist took a hard stance against Trafigura, one of the world’s biggest commodities trader, when it agreed to settle claims filed by Côte d'Ivoire residents who claim to have fallen ill after the Swiss company dumped toxic waste near Abidjan in 2006.
Under the proposed settlement, each of the 31,000 claimants was to receive about 950 pounds or $1,553.

It’s been reported in various publications
that Trafigura, which has maintained its innocence
since the 2006 incident, views the settlement
as vindication that it did nothing wrong.
If that’s the case then the British law firm that
has agreed to accept this settlement on behalf
of 30,000 victims has done a great disservice
to its needy clients.
If Trafigura truly seeks to be vindicated, it
should allow the case to go to trial and decided
by a competent jury...Hiding behind a bogus settlement to claim
vindication is injustice in its purest form.

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