Sometimes silences speak volumes.

In his seminal book The Anti-Politics Machine Stanford University anthropologist James Ferguson criticised the World Bank’s 1980s understanding of Lesotho as a “traditional subsistence peasant society.” Apartheid’s migrant labour system was explicitly ignored by the bank, yet remittances from Basotho workers toiling in mines, factories and farms across the Caledon River accounted for 60% of rural people’s income:

Acknowledging the extent of Lesotho’s long-standing involvement in the modern capitalist economy of South Africa would not provide a convincing justification for the “development” agencies to “introduce” roads, markets and credit.
Using Michel Foucault’s discourse theory, Ferguson showed why some things cannot be named. To do so would violate the bank’s foundational dogma, that the central problems of poverty can be solved by applying market logic. Yet the most important of Lesotho’s market relationships – exploited labour – was what caused so much misery.

Three decades on, not much has changed. Today, the bank’s main South Africa research team reveals a similar ‘Voldemort’ problem.

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Kenya is among the most attractive target countries for merger and acquisition activity in Africa according to a new report by a business risk consultancy.

Control Risks also names South Africa and Nigeria as other top countries in the continent where investors want to put their money.

The report was produced after a survey that involved interviews with 100 merger and acquisition practitioners operating in Africa.

Respondents expect 41 per cent of foreign buyers of African companies in 2016 to come from Europe with Asia-Pacific and North America at 39 per cent and 16 per cent respectively.

Energy, mining and utilities are expected to generate most merger and acquisition activity in the region accounting for 79 per cent followed by industrial and chemicals sector.

“Downturns in more established markets make international buyers look out for new targets. Capital is more easily available and high-quality targets are offered at very attractive prices,” said George Nicholls, senior managing director for Southern Africa at Control Risks.

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