According to a leaked management report from September 2010, some 75% of the Libyan Investment Authority’s assets were in Europe, 14% in North America and the remaining 11% in emerging markets. It is not clear how much was invested in Africa, although the Libyan African Investment Portfolio (LAIP), an LIA subsidiary, had assets of US$5.2 billion at that time.
In November, President Paul Biya was conspicuous by his absence from any of his supporters’ nationwide celebrations of his 30 years in power. In this way, he kept intact his reputation for inscrutability. And he isn’t, we hear, likely to be at home when he celebrates his 80th birthday on 13 February. Yet the low profile and advanced age do not signify retirement. Biya has been telling French politicians that if he is still alive in 2018, when his current term ends, he intends to stand again. By then he would be 85. Meanwhile, his iron grip on government and his refusal to allow any successor to emerge is increasing the potential for social and political crisis, according to local analysts.
One person who is never spoken of as a successor to President Paul Biya is his son Franck Biya, who is not a member of the ruling party and has never held political office or been in the army. Yet his father’s advisors and officials are attempting to limit any political damage from a controversy that has erupted over Biya Junior’s business deals.
The novelty of being invited at all times of the day and night to turn up at the Gendarmerie in Colobane wore off long ago for former ministers and other senior figures from the Parti démocratique sénégalais (PDS). The investigations are authorised by the court in charge of preventing ill-gotten gains, the Cour de répression de l’enrichissement illicite (CREI).The PDS barons and other allies of former President Abdoulaye Wade can hardly say they weren’t warned.
For weeks, diplomats in Kenya have fretted about the brewing discord between President Hassan Sheikh Mohamud of Somalia and Mwai Kibaki of Kenya. They finally met in Nairobi just before Christmas to try to iron out differences over how the southern Somali region of Jubaland should be governed.