Nigeria: Can a new government help beat corruption?

Can new leaders beat corruption?

Sven Richter, head of frontier markets at RenAsset Management, explains how recent government changes in Nigeria and Kenya have helped to improve business transparency in the region.

A few weeks ago I was sitting in Lagos, Nigeria, meeting with the head of an international retail firm. When the company first arrived in the country a few years ago, he said the Nigerian Ports Authority took two months to clear imported goods.  A certain percentage of goods was also taken for 'sampling' to ensure quality control – especially tubs of ice cream on hot days, of which there are a lot in Lagos. But now, he said, the wait is down to two weeks and a lot more ice cream is making it through.  It is not an isolated observation. Across Africa most governments have started to...