Only 9 out of 54 African countries are represented on the 2014 Forbes billionaires list. There are certainly more than 29 dollar billionaires on the Continent (most of the rest being in politics). Let’s consider this list as representative of countries in which (for whatever reason) it is politically safe to be publicly super wealthy – which in and of itself says a lot about how far Nigeria has come.
Some will look at the list and scream inequality. I look at the list and see the proliferation of centres of economic and political power. And a potential source of much-needed intra-elite accountability in African politics. For more on this read Leonardo Arriola’s excellent book on the role of private capital in African politics.
Tunisian president Zine el-Abidine Ben Ali has fled the country. The Prime Minister went on television on Friday night and announced himself the new president. The NY Times reports:
The apparent fall of Mr. Ben Ali, whose authoritarian government ruled for more than two decades, would mark the first time in recent memory that widespread demonstrations had overthrown an Arab leader.
The UK Guardian reports:
Opposition leader Najib Chebbi, one of Ben Ali’s loudest critics, captured the sense of historic change. “This is a crucial moment. There is a change of regime under way. Now it’s the succession,” he said.He added: “It must lead to profound reforms, to reform the law and let the people choose.”
The events in Tunisia might have ramifications in the wider Middle East and North Africa region. Regimes in Algeria and Egypt are potentially the most vulnerable. Egypt has presidential elections later this year while Algeria has been experiencing disturbances in the Annaba province.
We might be seeing the beginning of the end of the peculiar fact that there is not a single Arab democracy in the world.