recentpopularlog in

jerryking : islamists   6

Underpricing risky business
February 1, 2013 | G&M report on Business pg B2 |by David Parkinson.

As energy and mining reserves have become increasingly expensive to find in other, more stable parts of the world, Africa's dangers have been glossed over in the quest to cash in on the continent’s still relatively undeveloped resources. Companies have been ignoring the risky reality, and investors have been underpricing it...Africa's significant growth potential has generated optimism, however, the geopolitical risks facing investors in Africa remain, for the most part, underestimated.”
The biggest threat to business in Africa, he argues, is “re1igious/ ideological militancy"--especially from Islamist/jihadist groups - which he says “has been vastly underestimated, and will pose significant risks to foreign investors in much of Africa."
He believes companies and their investors are underpricing the risks of doing business in Aŕrica, including rising security and insurance costs and cant project delays that could come from security threats, military conflicts or regime changes....Until the market starts pricing risk into African resource investments before a crisis forces the realization upon it, there will be little incentive for companies to seek less risky and less corrupt places to put their money.
And there will be more harsh and costly awakenìngs for investors who are themselves willfully blind to the risks.
underpricing  risks  Africa  natural_resources  political_risk  geopolitics  Mali  war  underestimation  frontier_markets  corruption  mining  mispricing  Islamists  jihadis  willful_blindness 
february 2013 by jerryking
The secret race to save Timbuktu’s manuscripts - The Globe and Mail
Dec. 27 2012 | The Globe and Mail | GEOFFREY YORK.

Timbuktu’s greatest cultural treasure: its ancient scholarly manuscripts, are under threat from Radical Islamist rebels who have repeatedly attacked the fabled city’s heritage, taking pickaxes to the tombs of local saints and smashing down a door in a 15th century mosque and demolishing mausoleums...Timbuktu’s most priceless remaining legacy is its vast libraries of crumbling Arabic and African manuscripts, written in ornate calligraphy over the past eight centuries, proof of a historic African intellectual tradition. Some experts consider them as significant as the Dead Sea Scrolls – and an implicit rebuke to the harsh narrow views of the Islamist radicals.

But now the manuscripts, too, could be under threat. And so a covert operation is under way to save them....The manuscripts, dating back to the 13th century, are evidence of ancient African and Islamist written scholarship, contradicting the myth of a purely oral tradition on the continent.

Many of the manuscripts are religious documents, but others are intellectual treatises on medicine, astronomy, literature, mathematics, chemistry, judicial law and philosophy. Many were brought to Timbuktu in camel caravans by scholars from Cairo, Baghdad and Persia who trekked to the city when it was one of the world’s greatest centres of Islamic learning. In the Middle Ages, when Europe was stagnating, the African city had 180 religious schools and a university with 20,000 students.

Timbuktu fell into decline after Moroccan invasions and French colonization, but its ancient gold-lettered manuscripts were preserved by dozens of owners, mostly private citizens, who kept them in wooden trunks or in their own libraries.

Today, under the occupation of the radical jihadists, the manuscripts face a range of threats. Conservation experts have fled the city, so the documents could be damaged by insects, mice, sand, dust or extreme temperatures. Or the Islamist militants could decide to raise money by looting and selling the documents.
Mali  Africa  Timbuktu  Geoffrey_York  cultural_institutions  covert_operations  antiquities  art_history  threats  art  collectors  collectibles  Islamists  sub-Saharan_Africa  digitalization 
december 2012 by jerryking
Mali chaos gives rise to slavery, persecution - The Globe and Mail
GEOFFREY YORK

BAMAKO, MALI — The Globe and Mail

Last updated Sunday, Nov. 11 2012,
slavery  africa  Mali  Geoffrey_York  extremism  Islamic  Islamists 
november 2012 by jerryking
African Art Is Under Threat in Djenne-Djenno - NYTimes.com
August 2, 2012 | NYT | By HOLLAND COTTER.

Ethical battles surrounding the ownership of, and right to control and dispose of, art from the past rage on in Africa, as in other parts of the world....the wars over art as cultural property take many forms: material, political and ideological. On the surface the dynamics may seem clear cut, the good guys and bad guys easy to identify. In reality the conflicts are multifaceted, questions of innocence and guilt often — though not always — hard to nail down. In many accounts Africa is presented as the acted-upon party to the drama, the loser in the heritage fight, though such is not necessarily the case, and it certainly doesn’t have to be, and won’t be if we acknowledge Africa as the determining voice in every conversation...finding sculptures in situ, in their historical context...unauthorized trade in such art had been illegal since 1970, when Unesco drew up its Convention on the Means of Prohibiting and Preventing the Illicit Import, Export and Transfer of Ownership of Cultural Property. But the digging went on, and getting art out of the country — through porous borders, with a payment of bribes — was (and still is) easy. ...Certain archaeologists, the McIntoshes among them, were aghast at the ruinous plundering and took action. They were convinced that any Western attention paid to Malian antiquities increased the market value and encouraged looting. With this in mind they proposed an information blackout on any and all “orphaned“ Inland Niger Delta objects, meaning any that had not been scientifically excavated — most of those in circulation... The antiquities wars were not easy on dealers, collectors and museum administrators. Not only were their jobs threatened and acquisitive passions blocked, but they acquired unfortunate reputations. Once esteemed as cultural benefactors, they came to be seen, in some quarters, as hoarders and thieves.

Where does Africa itself stand in all of this? Is it merely the battleground on which science and commerce clash, a passive stretch of turf to be either righteously conserved or carved up and parceled out? Or is it — could it be — an active, gainful partner in cultural exchange?

It could. Art-alert countries like Nigeria and Mali have stockpiles of objects in storage. Selections of them could be leased out to Western institutions, or even swapped for temporary loans of Western art. The idea that Africa would not be receptive to such exchanges is wrong. It has fine museums (in Bamako, in Lagos), impressive private collections (one is documented in Sylvester Okwunodu Ogbechie’s superb book “Making History: African Collectors and the Canon of African Art“), and at least a few sharp critics (check out Kwame Opoku at modernghana.com).

There’s no reason to think that concepts of art in Africa and the West — I use these generalities for convenience only — have to jibe. But clearly a sense of the complex value of patrimony is strong and can be pushed further. The time is long past due to be compiling comprehensive digital databases not just of art from Africa, but also of art that’s still there. Not only would this be an invaluable, promotional resource for international study, it would also be a lasting record of types of ephemeral art, or of things too fragile to move, or of objects that have, in the event of political instability, a good chance of being lost.
Africa  art  collectors  collectibles  Mali  ethics  museums  books  embargoes  contraband  archeological  dealerships  art_galleries  art_history  Nigeria  threats  Islamists  antiquities  Timbuktu  sub-Saharan_Africa  heritage  history  stockpiles 
august 2012 by jerryking
Timbuktu’s Tomb Raiders - NYTimes.com
By BENJAMIN F. SOARES
Published: July 8, 2012
Mali  Islamists  Timbuktu 
july 2012 by jerryking

Copy this bookmark:





to read