Gaddafi financing Africa with $5bn "Libya Africa I. Portfolio" ends
Post date: Mar 2, 2011 7:58:12 AM
New economy Africa
He set up the $5 billion Libya Africa Investment Portfolio in 2006, investing in countries as far apart as Madagascar and Rwanda, and adopted the title of “King of Kings” two years later.
The Libyan ruler’s bid to create a “United States of Africa” is in tatters after the opposition seized half of his country and members of his administration, including key members of the diplomatic corps, deserted him.
“Assuming Qaddafi is finished you’re going to have a very different role that Libya plays whoever is in charge vis-a-vis the rest of sub-Saharan Africa,” David Shinn, a former U.S. ambassador to Burkina Faso and Ethiopia, said in a phone interview from Washington. “Libya will become over the next couple of years a very modest player in African affairs.”
source: bloomberg.com