The current shift of financial power from multi-national organizations such as World Bank, I.F.C and others to Sovereign Wealth Funds presents developing nations such as Zimbabwe with a new source of foreign direct investment. A sovereign wealth fund (SWF) is a state-owned fund composed of financial assets such as stocks, bonds, property or other financial instruments. Sovereign wealth funds have gained world-wide exposure by investing in several Wall Street financial firms. These firms needed a cash infusion due to losses resulting from the credit crunch caused by the mortgage meltdown which started in the USA.
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Nigeria to halt gas flaring by 2010-2011: minister
Saturday, 21 March 2009
Nigeria, the world's second-biggest gas flarer after Russia, aims to halt this environmentally unfriendly practice by 2010, or 2011 at the latest, the country's oil minister said Friday.
Economic crisis to rock Africa for at least two years: Japan
Saturday, 21 March 2009
Japanese Foreign Minister Hirofumi Nakasone warned that the global economic crisis would affect Africa for at least two years, as he opened a development conference in Botswana on Saturday.
As Zimbabwe maps an economic recovery path there are many lessons from other nations which have tapped into its Citizens abroad to play a critical role in the recovery process.
