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The Passport He Took in 1987

Trajectories — Portrait No. 13 A career built abroad is portable until the day it has to come home. Tidjane Thiam became the first Black chief executive of a FTSE...
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The Man Without a Birthday

Trajectories — Portrait No. 11 A founder’s biography is not a legal defence, and a legal file is not a verdict. Mohed Altrad does not know what day he was...
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No Control Premium

Trajectories — Portrait No. 10 At end-June 2025, Nedbank carried its 21.2% of Ecobank Transnational at R1.8bn against a market value of R1.9bn. It sold the block four months later...
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The Clause Nobody Else Writes

Trajectories — Portrait No. 9 Africa holds roughly 15% of the world’s people and attracts about 1% of global venture funding. Within that 1%, four anglophone markets — Nigeria, Kenya,...
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$2.5 Billion Borrowed, $27 Million Invested: CEMAC’s Capital Problem Goes to London

In seven months, three CEMAC sovereigns raised roughly $2.52 billion on international bond markets at coupons between 8.9% and 9.5%. In the whole of 2025, Central African companies attracted $27...
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The Pity Product

Trajectories — Portrait No. 8 In 2013, Fast Company appended an editor’s note to its profile of Bethlehem Tilahun Alemu. It removed a claim that soleRebels was the world’s only...
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Removed Twice by the Same Regulator

Trajectories — Portrait No. 7 A tenure cap moves a person. It does not necessarily move power. On 21 August, Nigeria’s twelve-year limit on non-executive directors ends Tony Elumelu’s chairmanship...
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Two Funds for Eleven Countries: The Arithmetic of Central Africa’s Missing Film Industry

A Franco-Congolese actress trained in Paris, directed by France’s leading stage and screen names, has worked for a Central African production exactly once — on a self-financed film whose technical...
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Where the Rules Get Written

Trajectories — Portrait No. 6 Every Cameroonian exporter who negotiates a letter of credit, writes “FOB Douala” into a contract, or signs an arbitration clause is applying rules drafted by...
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Three Years of Web Design

Trajectories — Portrait No. 5 Africa’s largest technology exit is usually reported as $682m. The figure adds a payment that was made to one that may never be, and excludes...
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The Man Who Bought Gatwick

Trajectories — Portrait No. 4 Infrastructure is a rent asset. Airports, ports and power grids earn their returns from the absence of a substitute, not from competitive advantage — which...
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The Financier Who Chose the Factory

Trajectories — Portrait No. 3 Central African economies pay better for trading than for making. Importing a container requires working capital and a licence; building the factory requires energy, a...
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The $6.4bn Bet That Came Undone

Trajectories — Portrait No. 2 Ursula Burns took over a company whose product was being erased by the internet, and spent $6.4bn — the largest acquisition in Xerox’s history —...
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Suing for a Dial Tone

Trajectories — Portrait No. 1 Strive Masiyiwa spent five years and most of his money in court, arguing that Zimbabwe’s telephone monopoly was an assault on free speech. He won,...
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