The Experience Series: ATLANTA #UIU 2014, "Heeding the Call"

March 13, 2015|By Dr. C. Frank Igwe (Philadelphia, PA) UIU 2014 was my third go ‘round, so I guess you can call me a veteran at this point.  Each time it gets better, and I learn a little bit more about the culture, while appreciating just how sacred it is to have shared ancestry with a thousand other attendees, whose forefathers may have gathered for community festivities hundreds or thousands of years ago…much like their descendants do every year at UIU.  There is something comforting about being around people who can correctly pronounce my name, Chukwudi Igwe, or know the ancient, and yet familiar call and response: “IGBO KWENU!!!!” “YAAAA!!!” From the moment that Yours Truly hopped off the plane, it was like a reunion, as I hugged and laughed with those that I had met at the conference in previous years, and made friends with those that were attending for the first time.  It gave me a chance to practice my spotty Igbo with the fellas… “Nwanne!  Kedu?” ..and with the ladies “Omalicha nwa!” My Igbo goes downhill for there (Don’t judge me).  Numbers exchanged, expectations declared, and the fire lit, as we looked forward to whatever the weekend held. UIU 2014 began slightly differently than years past, as we were treated to a comedy show with 4 hilarious comedians that honestly brought the house down! If you were there, then you KNOW what I’m talking about. Everyone looked fly, the room was packed, with no seats in sight. NaMo Skee is still the funniest host to do it (I swear, when I get married, I’m forcing him...

International Women's Day – UIU Recognizes DAMBISA MOYO, International Economist

March 8, 2015 In celebration of International Women’s Day, Umu Igbo Unite would like to recognize Dambisa Moyo, International Economist. From TED Talks to keynote speeches, the Zambian economist can’t help but continue the conversation about Africa and our global economy. Moyo is best known for her highly controversial book, Dead Aid, which criticizes Western aid interventions in Africa. Bill Gates and others have criticized this book openly and in 2013 there were several public opinionsregarding her book. Named by TIME MAGAZINE as one of the 100 Most Influential People in the World and as a recipient of theFriedich von Hayek Lifetime Achievement Award, we cannot help but notice and recoginze this woman on the rise. To learn more, read about the biography of Dr. Dambisa...

As World’s Hottest Economy Unravels, Nigerians Feel the Squeeze

March 6, 2015 By: Gavin Serkin and Chris Kay In a four-day sweep through Nigeria early last year, Aberdeen Asset Management’s Kevin Daly detected trouble. Yes, the country was a rising African power and yes, it had become the world’s fastest-growing major economy, but things weren’t quite right. An Islamic insurgency was heating up in the north and there were early signs that a nasty presidential campaign was brewing. Then financial disaster struck. Oil, the lifeblood of the country, collapsed in a breath-taking free fall. Daly had seen enough. By November, he had sold all of his Nigerian government bonds. Back in Lagos again last month for a fresh look, Daly found a country ravaged by crisis from all sides: the bloody clashes with Boko Haram insurgents had intensified; the violence had spurred authorities to postpone elections the president was in danger of losing; and the plunge in oil prices had depleted government coffers and triggered back-to-back currency devaluations. Nigeria’s benchmark equity gauge is the second-worst performer in the world this year — only war-torn Ukraine’s has fallen more — and the government’s local bonds have posted the biggest losses in emerging markets. “Nigeria is very high risk right now,” Daly said after returning to London, where he oversees $13 billion of emerging-market bonds at Aberdeen, Europe’s largest publicly traded fund manager. His only investments left in the country are bank bonds. Africa’s ‘Capital’ That Daly, 54, has soured to such an extent on the West African nation is telling in of itself. He considers himself a long-term Nigeria bull, attracted by the economic growth potential, booming population and natural resources. (In addition to...
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