African press review 17 November 2011

European banks are not the only ones having problems. There's Nigeria, for example. And there are plenty of money worries elsewhere on the continent.

In Nigeria, an editorial in The Guardian explores what it calls "the banking crisis in retrospect".

Just to be clear, that's Nigeria's banking crisis, which, the paper reminds its readers, ran for 30 months and almost strangled the economy.

The reform programmes to curb banking industry malfeasance have reached a certain milestone, says The Guardian.

In recent pronouncements, the regulators have reassured Nigerians that the crisis is over and that the industry is now sound. So far so good.

We are told that public funds were not used in the bailout. So, the paper wants to know, where did the money come from and which debts were written off?

The Guardian is worried that vast amounts of money have been spent to salvage what it calls "the inefficiencies of the rich at the expense of impoverished Nigerians, thrown out of jobs in the name of resolving the bank crisis".

It is inconceivable that the National Assembly, which has consistently embarked on an ego trip on such matters, is uninformed on this banking crisis resolution.

It will need to sit up and consider its oversight functions.

A firm resolution of these issues will instil confidence not just in the banking sector, but the nation’s economy as a whole, concludes The Guardian.

On the other side of the continent, Kenya's Daily Nation is bothered by the collapse of the nation's currency, the shilling.

And it's annoyed by the appointment of a parliamentary select committee with 18 members to investigate currency's decline.

"We wonder what the committee can actually achieve beyond becoming yet another guzzler of public funds," opines the Nation.

It is true that the Central Bank of Kenya and theTreasury, having failed to salvage the shilling, need a sharp rap on the knuckles, the paper says.

We doubt, however, whether yet another committee of MPs will be of any use.

But, the "Big Story" on the Nation's front page - that's how the paper bills it - is that Kenya and the African Union are to combine their forces in the campaign against Al-Shebab rebels.

The operation will bring together African Union forces, Kenya Defence Forces and Transitional Federal Government forces to fight the armed group throughout Somalia.

The paper describes it as "a major strategic shift which could change the face of the war in Somalia".

It is exactly one month since Kenya sent its troops into Somalia to chase Al-Shebab fighters, who are accused of carrying out abductions in Kenya.

The "Big Story" in Uganda's Daily Monitor is the decision by government of the Netherlands to withdraw direct budget support to the Ministry of Education and Sports, because of concerns, among others, over corruption and poor standards.

"It is not only the ministry of education that has questions to answer about corruption or poor standards," the Monitor says.

"Many government departments and general service delivery are wanting. But what is significant is what we as a country and our government is doing about those concerns."

The answer appears to be: not enough! Uganda can't leave the task of fighting graft to donor countries, the paper cautions.

"If we let the trend continue, we will wake up to find two complete generations who got a raw deal," it says.

In Malawi's Daily Times the two top stories are also about money.

One reports that Members of Parliament have approved a report which recommends that their monthly salaries be more than tripled - up to Kwacha 450,000 (2000 euros). No surprise there, then.

And also on the subject of foreign aid, the Times reports on the High Court case in which a local pastor is accused of embezzling funds donated by American Christians.

The prosecution accuses the pastor, who heads the Malawian Church on the Rock, of spending much of the money on himself.

In fact, the donations were intended for boreholes and an orphanage in needy communities. The Pastor claimed to have spent 100,00 US dollars on 20 boreholes.

But only two are working, the court was told. The Pastor is expected to put his side of the story at a later date.

Finally, The Star in South Africa reports on a more shocking case of criminality. This week customs officials in Hong Kong intercepted 33 rhino horns that had been hidden in a container on a ship that had left Cape Town - a record haul.

They also seized almost 600 ivory chopsticks and more than 100 ivory bracelets, worth around worth 13 million euros.

So far this year, says The Star, 366 rhinos have been killed across South Africa. One wonders for how long the magnificent beasts will survive.