FX risk

Why Dangote Refinery Might Still Struggle (Despite Everything)

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Why scale, capital, and technical competence do not guarantee success—and how structure still determines outcome. This post builds on the Allocator Lens model → read it here. The Dangote Refinery is one of the most ambitious industrial projects in Africa. It represents scale, private capital, technical capability, and a response to a long-standing structural gap […]

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Exchange Rate Volatility: The Silent Destroyer of Cash Flow

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Why currency movements expose structural weakness, distort value, and determine survival in fragile systems. This post builds on the Allocator Lens model → read it here. Most managers treat exchange rates as background noise. Something to monitor, perhaps hedge occasionally, but rarely something that defines the core of a business. That is a mistake. For

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