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Diamond-rich Botswana Appoints Nigerian as Chairman of Multi-billion-dollar Sovereign Wealth Fund
By Eromosole Abiodun
Chairman of Nigeria’s second oldest bank, Union Bank Plc, Mr. Farouk Gumel, has been appointed by the President of Botswana, His Excellency Advocate Duma Gideon Boko as the Chairman Board of Directors of the Botswana Sovereign Wealth Fund Limited.Gumel is currently the Vice Chairman of Tropical General Investments (TGI) Group and immediate past Chairman of the Nigerian Sovereign Investment Authority (NSIA).
The announcement was made at the official launch of the new multi-billion-dollar Sovereign Wealth Fund at the President’s office in Gabarone, Botswana.In a statement, President Boko underscored the significance of this step, placing it at the heart of his government’s vision for economic diversification and long-term resilience:According to him, “The launch of the Botswana Sovereign Wealth Fund represents an investment in the future of our country. It is about creating jobs, driving growth, and ensuring that our nation’s wealth works for all Batswana.“This is a foundation upon which we will diversify our economy, open new frontiers of opportunity, and build lasting prosperity for future generations.
We are sending a message to the world that Botswana is ready to compete, invest, and lead.”The BSWF, he stated, is designed to reduce the nation’s historical reliance on diamond mining by channeling resource revenues into strategic investments across diverse sectors such as infrastructure, technology, healthcare, and renewable energy. It is believed the fund will be amongst the largest in Africa.“Farouk Gumel will chair a deeply experienced and diverse board selected to provide comprehensive and strategic oversight. The board’s composition reflects a powerful blend of local expertise and global vision, uniting key national and international figures,” he said.The Vice Chairperson of the Board is Ms. Emmah Peloetletse who is currently the Head of Service to the Government of Botswana as well as Secretary to the President and Cabinet of Botswana. Ms. Peloetletse is also the Chairperson of Debswana, the world’s largest diamond mining company.
Other members of the board include Ms. Malebogo Mpugwa, Chief People Officer at De Beers Group, the world’s leading diamond company; Mr. Anil Dua, Co-founder of Gateway Partners and Non-Executive Director of Afreximbank; and Mr. Boingotlo Toteng, Senior Managing Partner of Toteng & Company and Legal Advisor on Presidential Affairs.Others include Mr. Sunil Sabharwal, former U.S. Executive Director to the IMF; Mr. Lesego Caster Moseki, Deputy Governor of the Bank of Botswana; and Mr. Rizwan Desai, Managing Partner of Desai Law Group and former Chairman of the Botswana Stock Exchange.“Together, this board represents a powerful blend of national leadership, international investment expertise, and corporate governance experience, ensuring the fund is equipped with both global insight and local depth.“In his role as Chairman, Mr. Gumel will lead the board in setting the fund’s investment strategy, governance framework, and risk management policies.
His extensive experience at the NSIA, capital markets and manufacturing will be instrumental in guiding the BSWF towards achieving its dual mandate of financial returns and positive national impact,” the president said.Upon his appointment, Farouk Gumel stated: “As a sovereign wealth fund, we are setting our sights on a future built on transparency, good governance, and a steadfast dedication to Botswana’s prosperity.“The Board is committed to delivering lasting value, seeking global opportunities and investing for the future.
”The launch of the fund and the appointments of this highly qualified board have been met with widespread acclaim from economic analysts, who see it as a signal of Botswana’s serious commitment to prudent fiscal management and attracting top-tier global investment expertise.Farouk is a Group Executive Director and Vice Chairman, Africa for Tropical General Investment (TGI) Group.TGI is a global conglomerate operating in 13 countries across Africa, the Middle East and Asia in various business verticals such as Food and Agribusiness, FMCG, Chemicals & Pharmaceuticals and Financial Services.Farouk is Chairman of some of the TGI Group companies including WACOT Rice and Union Bank – Nigeria’s second oldest bank.He was also the Chairman of the Nigeria Sovereign Investment Authority (NSIA) and sits on the boards of Corporate Council on Africa and Africa Business Coalition on Health.
THIS DAY
Sunday
Why I won’t honour US visa reinterview invitation – Soyinka
By Staff
Nobel Laureate Wole Soyinka has turned down an invitation from the United States Consulate in Nigeria to attend a visa reinterview.
According to reports, the literary icon has said he will not take part in the process under the administration of President Donald Trump, whom he compared to former Ugandan leader Idi Amin.
The invitation was sent to Nigerians holding B1/B2 visas, with Soyinka’s appointment fixed for last Thursday, September 11.
Soyinka explained that he initially thought the letter was a scam because he had never received such a request before, but later confirmed its authenticity.
Soyinka questioned the timing of the exercise, saying that September 11 is a day of mourning for Americans and should not be used for bureaucratic matters.
He said the Consulate should have suspended activities on that date in remembrance of lives lost in the 2001 attacks.
The playwright also stated that he had no interest in pursuing travel to countries where he does not feel welcome.
According to him, he has more pressing commitments than seeking visas and would not step into an embassy linked to a government he distrusts.
He maintained that his decision was not personal but rooted in principle, adding that he would rather cut ties than honour the reinterview on September 11.
He said: “Are we looking in the case of the United States, at the white Idi Amin, for instance? If you look very closely at the conduct, the behaviour, the mentality of the present incumbent president, you find out there are Idi Amins of different colours. And if Idi Amin says I should come to his embassy, I would think twice before going because I don’t know what is waiting for me on the other side of the door.”
Saturday
The ten best football (soccer) players of all time
There is no question that 'the beautiful game' has been blessed with some of the most glorious talent ever assembled in any sports, over the generations. Here are the ten best football (soccer) players of all time according to a consortium of ardent analysts and personalities in the game.
The list allows many fans of the beautiful game to offer their own opinion and suggestions on the veracity of the rankings.
1) Edson Arantes do Nascimento - Pelé (Brazil) - RIP
Peak: 1958-70
2) Diego Armando Maradona (Argentina) - RIP
Peak: 1985-90
Major Achievements: 90min's Greatest Footballer of All Time, Corriere dello Sport's Best Athlete in History, 1986 FIFA World Cup, 1986 FIFA World Cup Golden Ball, 1985 Serie A Footballer of the Year, FIFA World Cup All-Time Team, FIFA Goal of the Century, Argentine Sports Writers' Sportsman of the Century, two-time South American Footballer of the Year, four-time Argentine Football Writers' Footballer of the Year, two Scudetti, one Coppa Italia, one Copa del Rey, one UEFA Cup. The late Maradona was a football genius and took over a game like no other player did, probably not since the number one player on the list, Pelé.
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| Getty Images |
3) Zinedine Zidane - Zizzou (France and of Algerian descent)
Peak: 1997-2006
Major Achievements: 1998 Ballon d'Or, 1998, 2000 & 2003 FIFA World Player of the Year, 2002 UEFA Club Footballer of the Year, 2000/01 Serie A Footballer of the Year, UEFA Champions League Best Player of the Past 20 Years, L'Equipe Best French Player of All Time, 2006 FIFA World Cup Golden Ball, only player to be named Player of the Year in three of the top five leagues, most goals in FIFA World Cup finals, 1998 FIFA World Cup, 2000 UEFA European Championships, one Champions League, two Scudetti, one La Liga title, one Intercontinental Cup. Zizzou should have won two FIFA World Cups and the evidence of his genius was in taking an average and aging French side to the FIFA World Cup final in 2006, while eliminating a star-studded Brazil side in the process. Zizzou never lost to Brazil when it mattered and he was 2-0 against two of arguably the best Brazillian teams of all time, the 1998 and 2006 teams with stars like Rivaldo, Ronaldinho, Ronaldo ("O Fenômeno"), Roberot Carlos and Cafu, just to name a few.
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| Getty Images |
4) Johan Cryuff (Netherlands aka Holland)
Peak: 1971-75
Major Achievements: 1971, 1973 & 1975 Ballon d'Or, 1974 FIFA World Cup Golden Ball, FIFA World Cup All-Time Team, three-time Dutch Footballer of the Year, two-time Dutch Sportsman of the Year, three European Cups, one La Liga title, nine Eredivisie titles, one Copa del Rey, six KNVB Cup, one Intercontinental Cup. Johan Cryuff was 'Total Football' and he was the architect of modern football, as we know it.
5) Franz Beckenbauer (Germany aka West Germany)
Peak: 1966-76
Major Achievements: 1972 & 1976 Ballon d'Or, FIFA World Cup All-Time Team, 1966 FIFA World Cup Best Young Player Award, four-time German Footballer of the Year, 1974 FIFA World Cup, 1972 UEFA European Championships, three European Cups, five Bundesliga titles, four DFB-Pokals, one Intercontinental Cup. The Der Kaiser, as he is fondly called, won the FIFA World Cup as a player and also as a manager. He is also one of only two defenders to ever win the Ballon d'Or and he infact won it.
6) Ronaldo aka "O Fenômeno" (Brazil)
Peak: 1995-2002
Major Achievements: 1997 & 2002 Ballon d'Or, 1996, 1997 & 2002 FIFA World Player of the Year, 1998 FIFA World Cup Golden Ball, 2002 FIFA World Cup Golden Shoe, 1996/97 European Golden Shoe, 1994 & 2002 FIFA World Cup, 1997 & 1999 Copa America, two-time Pichichi winner, 1998 Serie A Footballer of the Year, two La Liga titles, one Copa del Rey, one KNVB Cup, one UEFA Cup, one Intercontinental Cup. Ronaldo easily could have become the greatest football player of all time, but his knees and overall lack of personal discipline, did him in. He was simply a joy to watch!
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| Getty Images |
7) Ronaldinho (Brazil)
Peak: 2002-06
Major Achievements: 2005 Ballon d'Or, 2004 & 2005 FIFA World Player of the Year, 2005/06 UEFA Club Footballer of the Year, 2004 & 2005 FIFPro World Player of the Year, one UEFA Champions League, two La Liga titles, one Scudetto. 2002 FIFA World Cup winner. Ronaldinho was one of the most gifted geniuses with the ball at his feet. He was exquisite to watch and played with so much joy that his passion seemed like par-for-the-course, even in the most energy-sapping of games. Just ask England in 2002 and they will tell you that no one 'smiled while killing you' with so much ease as Ronaldinho.
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| SportMob |
8) Alfredo Di Stéfano (Argentina)
Peak: 1956-62
Major Achievements: 1957 & 1959 Ballon d'Or, five European Cups, one Intercontinental Cup, eight La Liga titles, five-time Pichichi winner, World Team of the 20th Century, one Copa del Rey.
Alfredo Di Stéfano is considered by some to be the best player of all time, and many consider that he should be ranked above fellow Argentines Diego Maradona and Lionel Messi. Indelibly associated with the Real Madrid side that won 5 European Cups between 1956 and 1960, remarkably Di Stéfano did not even come to Europe until he was in his late 20s. It was during his time in Spain with Real that created his legend. In 11 seasons, in addition to the European Cup triumphs, he helped them win 8 league titles and the Copa del Rey, scoring 308 goals in 396 appearances for Los Blancos. His partnership with Ferenc Puskás became legendary, exemplified by the 1960 European Cup Final, where Di Stéfano scored a hat-trick, and the Hungarian four in the 7 – 3 defeat of Eintracht Frankfurt, still spoken of, nearly 60 years later, as one of the finest games of club football ever played.
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| Football Soccer Cards |
9) Cristiano Ronaldo (Portugal)
Peak: 2010-18
Major Achievements: 2008, 2013, 2014, 2016 & 2017 Ballon d'Or, 2008, 2016 & 2017 FIFA World Player of the Year, 2014, 2016 & 2017 UEFA Best Player in Europe Award, four-time European Golden Shoe winner, two-time PFA Players' Player of the Year, UEFA Champions League all time top goal scorer, Real Madrid's all time top goal scorer, five UEFA Champions Leagues, two La Liga titles, three Premier League titles, one Scudetto, two Copa del Rey, one FA Cup, one UEFA European Championship and inaugural UEFA Nations League Championship.
Peak: 2009-18; 2021-2022
Major Achievements: 2009, 2010, 2011, 2012, 2015, 2019 & 2021 Ballon d'Or, 2009 FIFA World Player of the Year. 2021 Copa America and 2022 FIFA World Cup winner. Barcelona all time top goal scorer, La Liga all time top goal scorer, six-time Pichichi winner, Argentina's all time top goal scorer, most goals scored in a calendar year, 2011 & 2015 UEFA Men's Player of the Year, seven-time La Liga Player of the Year, 2014 FIFA World Cup Golden Ball, 2005 Young European Footballer of the Year, five-time European Golden Shoe winner, four Champions Leagues, nine La Liga titles, six Copa del Rey.
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Friday
African-Americans Who Served in WWII Faced Segregation Abroad and at Home
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| Photograph by David E. Scherman / The LIFE Picture Collection / Getty |
CC™ Histofact
Some 1.2 million African-American men served in the U.S. military during the war, but they were often treated as second-class citizens.
When the Selective Training and Service Act became the nation’s first peacetime draft law in September 1940, civil rights leaders pressured President Franklin D. Roosevelt to allow Black men the opportunity to register and serve in integrated regiments.
Although African-Americans had participated in every conflict since the Revolutionary War, they had done so segregated, and FDR appointee Henry Stimson, the Secretary of War, was not interested in changing the status quo. With a need to shore up the U.S. Armed Forces as war intensified in Europe, FDR decided that Black men could register for the draft, but they would remain segregated and the military would determine the proportion of Blacks inducted into the service.
The compromise represented the paradoxical experience that befell the 1.2 million African- American men who served in World War II: They fought for democracy overseas while being treated like second-class citizens by their own country.
Despite African-American soldiers' eagerness to fight in World War II, the same Jim Crow discrimination in society was practiced in every branch of the armed forces. Many of the bases and training facilities were located in the South, in addition to the largest military installation for Black soldiers, Fort Huachuca, located in Arizona. Regardless of the region, at all the bases there were separate blood banks, hospitals or wards, medical staff, barracks and recreational facilities for Black soldiers. And white soldiers and local white residents routinely slurred and harassed them.
“The experience was very dispiriting for a lot of Black soldiers,” says Matthew Delmont, a history professor at Dartmouth College and author of Black Quotidian: Everyday History in African-American Newspapers. “The kind of treatment they received by white officers in army bases in the United States was horrendous. They described being in slave-like conditions and being treated like animals. They were called racial epithets quite regularly and just not afforded respect either as soldiers or human beings.”
Because the military didn’t think African-Americans were fit for combat or leadership positions, they were mostly relegated to labor and service units. Working as cooks and mechanics, building roads and ditches, and unloading supplies from trucks and airplanes were common tasks for Black soldiers. And for the few who did make officer rank, they could only lead other Black men.
As Christopher Paul Moore wrote in his book, Fighting for America: Black Soldiers—The Unsung Heroes of World War II, “Black Americans carrying weapons, either as infantry, tank corps, or as pilots, was simply an unthinkable notion…More acceptable to southern politicians and much of the military command was the use of black soldiers in support positions, as noncombatants or laborers.”
African-American soldiers regularly reported their mistreatment to the Black press and to the NAACP, pleading for the right to fight on the front lines alongside white soldiers.
“The Black press was quite successful in terms of advocating for Blacks soldiers in World War II,” says Delmont. “They point out the hypocrisy of fighting a war that was theoretically about democracy, at the same time having a racially segregated army.”
In 1942, the Black newspaper, the Pittsburgh Courier—in response to a letter to the editor by James G. Thompson, a 26-year-old Black soldier, in which he wrote, “Should I sacrifice my life to live half American?"—launched the Double V Campaign. The slogan, which stood for a victory for democracy overseas and a victory against racism in America, was touted by Black journalists and activists to rally support for equality for African-Americans. The campaign highlighted the contributions the soldiers made in the war effort and exposed the discrimination that Black soldiers endured while fighting for liberties that African Americans themselves didn’t have.
As casualties mounted among white soldiers toward the final year of the war, the military had to utilize African-Americans as infantrymen, officers, tankers and pilots, in addition to remaining invaluable in supply divisions.
From August 1944 to November 1944, the Red Ball Express, a unit of mostly Black drivers delivered gasoline, ammunition, food, mechanical parts and medical supplies to General George Patton’s Third Army in France, driving up to 400 miles on narrow roads in the dead of night without headlights to avoid detection by the Germans.
The 761 Tank Battalion, became the first Black division to see ground combat in Europe, joining Patton’s Third Army in France in November 1944. The men helped liberate 30 towns under Nazi control and spent 183 days in combat, including in the Battle of the Bulge. The Tuskegee Airmen, the all-Black fighter pilot group trained at Tuskegee Institute in Alabama, escorted bombers over Italy and Sicily, flying 1600 combat missions and destroying 237 German aircraft on ground and 37 in air.
“Without these crucial roles that Blacks soldiers were playing, the American military wouldn’t have been the same fighting force it was,” says Delmont. “That was a perspective you didn’t see much in the white press.”
After World War II officially ended on September 2, 1945, Black soldiers returned home to the United States facing violent white mobs of those who resented African Americans in uniform and perceived them as a threat to the social order of Jim Crow.
In addition to racial violence, Black soldiers were often denied benefits guaranteed under the G.I. Bill, the sweeping legislation that provided tuition assistance, job placement, and home and business loans to veterans.
As civil rights activists continued to emphasize America’s hypocrisy as a democratic nation with a Jim Crow army, and Southern politicians stood firmly against full racial equality for Blacks, President Harry Truman signed Executive Order 9981 that desegregated the U.S. Armed Forces in July 1948. Full integration, however, would not occur until the Korean War.
Thursday
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