"If I Had To Pour Every Single Penny of My Retirement Into Just ONE STOCK..."

The former Goldman Sachs VP -- who called everything from Microsoft's 1,100% surge... to the death of the 60/40 portfolio -- is now stepping forward with his most explicit message yet: "Make this ONE STOCK the cornerstone of your portfolio."

Homes are demolished in Ivory Coast's main city over alleged health concerns. Thousands are homeless

TOUSSAINT N’GOTTA
April 17, 2024

ABIDJAN, Ivory Coast (AP) -- Dame Touré rushed to quickly gather what she could as bulldozers rolled into her neighborhood in Ivory Coast's fast-growing economic hub of Abidjan. Her three children joined her, stuffing plastic bags with clothes and whatever other items they could grab, before their home was reduced to rubble as armed security forces looked on.

The Touré home was among hundreds crushed in a February wave of demolitions targeting Abidjan's underdeveloped areas.

The government says it's because of public health concerns as the poor areas -- built along a lagoon in this port city of 6.3 million on West Africa's southern coast -- suffer deadly floods during the rainy season. More than 300 people have been killed since 2005 and officials say the deluges become breeding grounds for water-borne and other diseases.

"My children and I now sleep under the sun," said Touré, 50. "We don't know where to go."

Demolitions in low-income neighborhoods are nothing new in Abidjan, where rapid urbanization has led to a population boom and housing shortages, with nearly one in five Ivorians residing in the city. It's a challenge in many parts of Africa where economic woes pushed more people into cities in search of better opportunities, straining an already overstretched infrastructure.

However, the latest Abidjan demolition -- mainly in impoverished suburbs in the Gesco and Sebroko districts -- is one of the largest in years, with an estimated hundreds of thousands of residents affected since it began in late January. Evicted families and rights groups say that this time, it's being done without prior notice or compensation.

Analysts say many African governments struggle to manage population explosions in cities and meet growing infrastructure needs. Chimezie Anajama, a policy researcher and founder of Blooming Social Pen development nonprofit, says few administrations have managed to solve the developmental problem.

"There must be a strong commitment by different African governments to come up with creative solutions to address the infrastructure gaps in African cities," Anajama said.

Local authorities have defended the demolitions, and say relocations of families left homeless to safer areas has started.

Some 35% of Ivorians are poor. Water shortages are a daily curse, with many forced to fetch water from streams for their daily needs. The country has also had to contend with other challenges, such as jihadi attacks that have spread to coastal states in West Africa, including Ivory Coast.

"The aim is to provide a decent ... living environment for these people," the Ivory Coast's communications minister, Amadou Coulibaly, has said of the demolition campaigns. He claimed in February that some of those evicted in neighborhoods like Boribana are being resettled in at least 1,000 houses built by the government.

Many families, however, remain homeless, stranded in several parts of the city.

The demolitions are being carried out in "a brutal manner ... causing disastrous consequences for many families already vulnerable," the Ivorian League for Human Rights said in a statement. It urged authorities to halt the campaign.

Among those affected by the demolitions were nearly 2,000 schoolchildren of Cha Hélène College in the Yopougon neighborhood, which was reduced to rubble in February.

The school was not informed it would be demolished -- neither by the Ivory Coast's ministry of construction nor the national education ministry, said Sévérin Okpo Abe, the school's founder. The children were eventually enrolled in other nearby schools.

Most of the evicted residents who are not sleeping out in the open have either relocated to other parts of Ivory Coast or are squatting with residents elsewhere.

"We have been made homeless in our own country," said Aimée Ouédraogo, a spokesperson for women affected by the forced evictions.

The evictions broke up families and the homeless were scattered across the city, she added. "We no longer have a home, we no longer have our family, we no longer have our children next to us."

Amid the outrage and protest from the evicted, Ivory Coast President Alassane Ouattara has asked Abidjan's local authorities to "show solidarity ... to preserve cohesion and social peace."

However, city's officials say the demolitions are part of a broader project to reconstruct and provide basic amenities in the areas. Plots of land would be leased to those evicted for up to 25 years, for about $16 a month, they say.

On April 8, the government announced it's started to compensate affected households and that each would get about $405 to support the relocation. In a country where the minimum wage is about $121 a month, some believe it's not enough to afford the growing cost of housing.

"All displaced people will receive the necessary support for their relocation," said Belmonde Dogo, the minister in charge of efforts to alleviate poverty.

The Yopougon municipality, mostly of working-class residents, also announced plans to help those affected.

But many like Touré say they were overwhelmed by helplessness watching bulldozers rampage through their neighborhoods.

"I don't have anyone in Abidjan and I don't have money to buy a house," said the mother of three, not knowing how she would go on. "I can't do it."

___

Associated Press writer Chinedu Asadu in Abuja, Nigeria, contributed to this report.

___ The Associated Press receives financial support for global health and development coverage in Africa from the Bill & Melinda Gates Foundation Trust. The AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.

Continue Reading...

Popular

Stock market today: Asian shares mostly rise to start a week full of earnings, Fed meeting

TOKYO (AP) — Asian shares mostly rose Tuesday, as investors kept their eyes on potentially market-moving reports expected later this week.

Asia Up, Europe Mixed, While Yen Surges Against Dollar - Global Markets Today While US Slept

US stock markets closed higher, driven by strong earnings and mild inflation data. Asian markets also gained, while eurozone and oil prices dipped.

Buy This A.I. Stock Before Elon's "A.I. Day" on May 16 - Ad

Luke Lango is now recommending this little-known A.I. stock because it could supply Elon Musk with a critical piece of infrastructure for his new A.I. venture, something Luke is calling "Elon's A.I. 2.0". Once Elon reveals it on May 16, you may have missed the biggest gains.

Growing wildfire risk leaves states grappling with how to keep property insurers from fleeing

BOISE, Idaho (AP) — Months after a more than 2,200 homes in Hawaii, some property owners are getting more bad news — their property insurance won't be renewed because their insurance company has deemed .

Did This Crypto Millionaire Humiliate Himself? - Ad

On September 2022, crypto millionaire James Altucher published a video saying he had sold all his Bitcoin... and doubled down on this crypto instead. At the time, cryptos had already dropped 70%. But James still said this crypto was a good investment. Was he right? Or did he embarrass himself?

The deadline to consolidate some student loans to receive forgiveness is here. Here's what to know

NEW YORK (AP) — Borrowers with some types of have until today to consolidate their loans to qualify for full or credit toward cancellation. The Education Department is expected to conduct a one-time adjustment in the summer but borrowers who want to be considered for the adjustment have to submit a request to consolidate their loans by Tuesday.

Macy's names 2 independent directors as part of agreement with activist investor

NEW YORK (AP) — Macy's said Wednesday it has named two independent directors to its board that were pushed by activist investor Arkhouse Management, ending a proxy fight that aimed to replace most of the board and to acquire the iconic chain.

Shhh! This Is One Great Coin... - Ad

Shhh! I truly believe this crypto could be one of the top earning cryptos of all time... In fact, in the coming bull run... this one coin could have the potential to bank 10x... 50x... and even 100x.

Nigerians struggle with fuel shortages as queues form across major cities

ABUJA, Nigeria (AP) — Nigerians were queuing for hours to buy fuel across major cities on Tuesday as the West African nation struggled with its latest fuel shortage, causing more hardship for millions already struggling in an economic crisis.

New Jersey seeks fourth round of offshore wind farm proposals as foes push back

LONG BEACH TOWNSHIP, N.J. (AP) — New Jersey is seeking a new round of proposals to build wind energy farms off its coastline, forging ahead with its clean energy goals even as local opposition and challenging economics create blowback to the effort.

Why Banks Could See a "Cash Frenzy" on May 1 - Ad

He called the Lehman Brothers collapse in 2008... the Bitcoin crash in 2018... and the inflation crisis of 2022. Now, he's warning that the 2023 banking crisis is not over yet. Instead, we could see a cash frenzy at banks as soon as March 11. Do NOT buy another stock until you see his newest presentation.

Elon Musk Debunks Tucker Carlson's Alien Theory, SCOTUS On Trump's Immunity, North Korea's Military Pledge And More: This Week In Politics

The week was filled with intriguing stories, from Elon Musk's dismissal of alien theories to the U.S. Supreme Court's deliberation on former President Donald Trump's immunity claims.

Ethereum's Bottom Against Bitcoin 'Still Likely A Few Months Away,' Predicts Crypto Analyst

Prominent cryptocurrency analyst Benjamin Cowen predicted further bearish momentum for Ethereum (CRYPTO: ETH) to Bitcoi

Legendary Stockpicker: "Buy This A.I. Stock NOW" - Ad

His award-winning system pinpointed NVDA and META before both stocks doubled. Now it's flashing "BUY" on this under-the-radar A.I. stock.

Jim Cramer Explains What Could Trigger Further Market Decline: 'If You Want To Get Out, Go Ahead ...'

CNBC host Jim Cramer has outlined potential factors that could lead to further market decline, advising investors to be cautious about their buying and selling decisions.

How Much Will Taylor Swift's Net Worth Grow With 'The Tortured Poets Department'?

How much will Taylor Swift's 'The Tortured Poets Department' boost her net worth? Get expert insights here

See This Before This Week's Fed Meeting - Ad

Doc Eifrig just released a new video detailing "the perilous moment Americans are in right now." Angry voters, mounting government debt, and blood in the streets... But he's got a way out -- a unique way to come out on top no matter who wins this presidential election. (Last time we shared this, it led to a 995% gain.)

NY AG Letitia James Seeks To Void Trump's $175M Bond In Civil Fraud Case

The New York Attorney General Letitia James' office has moved to invalidate the $175 million bond secured by former President Donald Trump.

Lottery bids for skilled-worker visas plunge in the US after changes aimed at fraud and abuse

SAN DIEGO (AP) — Lottery bids for highly educated worker visas plunged nearly 40% this year, authorities said Tuesday, claiming success against people who were “gaming the system” by submitting multiple, sometimes dubious, applications to unfairly increase chances of being selected.

Bitcoin Gained 164% in 2023 but Crypto Millionaire Abandoned It for This - Ad

A certain crypto genius and millionaire has been praising Bitcoin since it was trading for $61. Even though it gained 164% last year, he's now recommending a different cryptocurrency. In fact, he's betting his own money on and buying it like crazy.

Bitcoin's Short-Term Holder Realized Price At $59,800; Analyst Says Falling Below This Could Trigger Notable 'Price Corrections'

Bitcoin (CRYPTO: BTC) has seen its short-term holder realized price at $59,800, which could potentially lead to a significant correction in its price, according to a prominent crypto analyst.

Biden's Closed-Door AI Meeting - Ad

Things are moving so fast, President Biden just met with 8 of the top AI experts in the world to figure out how to regulate it. And this small-cap is at the center of this AI-biotech revolution.

Elon Musk's X Faces Widespread Disruptions, Affecting Users Globally

Elon Musk's X, formerly known as Twitter, experienced outages on Monday with 4,122 users reporting issues. Musk rebranded to promote free speech.

Cathie Wood's Ark Invest Sells $20M+ Coinbase Shares As Bitcoin Trades Over $70K, Buys Palantir, Sells Nvidia Stock

On Thursday, Cathie Wood’s Ark Invest made significant trades involving Coinbase Global, Inc. (NASDAQ:COIN), Palantir Technologies Inc. (NYSE:PLTR), and Nvidia Corp.

New Video: What A.I. Means for Cancer (And Other Diseases) - Ad

I urge you to check it out before we take the video down. You'll discover how AI discovered a new treatment in only 30 days, why Big Pharma signed over $3 billion in deals with one AI-biotech, and why Bill Gates and billionaire Steve Cohen own over 10% of this company.

A strong quarter for Wall Street lifts Goldman's first-quarter results

NEW YORK (AP) — Goldman Sachs said it saw a double digit rise in its first quarter profits on Monday, lifted broadly by the stock and bond markets' performances in the first months of the year.

Tesla's FSD Nod Win Seen As Move To 'Smooth Over Chinese EV's Entry Into The US Market' Says Redditor

Tesla's FSD milestone in China sparks discussions among investors and enthusiasts, leading to a 10% premarket spike in stock price. Seen as a strategic win, but impact on global EV market and stock remains uncertain.

NOT Bitcoin or Options... But Already Making Folks Rich in 2024 - Ad

Former Goldman Sachs Trader Dr. David Eifrig just stepped forward with a way to protect your money this November -- no matter who wins the presidential seat. In fact, election chaos will likely make this even better. It's a "secret" of the rich and connected that 99% of folks don't know about...

Jim Cramer Turns Bullish On Palantir: 'Make A Move And Buy Some'

CNBC’s “Mad Money” host Jim Cramer has given a thumbs up to Palantir Technologies Inc. (NYSE:PLTR), sparking interest among investors.

Atlantic City mayor: I'm committed to my family and city while dealing with daughter abuse charges

ATLANTIC CITY, N.J. (AP) — Atlantic City Mayor Marty Small said Thursday he remains committed to his family and to his city as he deals with charges that he and his wife

One Coin to Rule Them All... - Ad

Hardly any investors are talking about this coin but I believe that's about to change with some potentially huge news! Get in on the ground floor while it's rock bottom with this new how-to guide, just $3.

Kentucky governor announces lottery to award initial round of medical cannabis business licenses

FRANKFORT, Ky. (AP) — Kentucky will use a lottery system to award an initial round of licenses to businesses competing to participate in the state's startup medical cannabis program, Gov. Andy Beshear announced Thursday.

Oil sprays from an ANA flight carrying 213 people as it lands in northern Japan

TOKYO (AP) — Oil sprayed from an All Nippon Airways plane as it landed Wednesday at Shin Chitose airport in northern Japan, but none of the 213 people on board was injured, officials said.

Small A.I. Firm Wins $2 Billion in Contracts for Breakthrough "Living Software" - Ad

Denver firm proves its possible to use AI to save the lives of soldiers in combat. England, Germany, Japan and Australia have all signed contracts within the past 18 months.

If O.J. Simpson's assets go to court, Goldman, Brown families could be first in line

LOS ANGELES (AP) — without having paid the lion’s share of the $33.5 million judgment a California civil jury awarded to the families of his ex-wife Nicole Brown Simpson and her friend .

Joe Biden Reverses Stance, Agrees To Debate Ex-President Ahead Of 2024 Rematch: 'Trump Makes Fun Of Me'

President Joe Biden indicated his willingness to debate Donald Trump in the upcoming 2024 general election, reversing his earlier hesitation and responding to Trump's open challenge for a debate under any conditions.

A.I. Pioneer Issues Urgent Warning to Americans - Ad

According to one early A.I. pioneer: "You can either use this as an unfair advantage to grow your wealth, or you can let it ravage your retirement savings. There's no middle option."

More cows are being tested and tracked for bird flu. Here's what that means

U.S. health and agriculture officials are and tracking of bird flu in dairy cows in an urgent effort to understand — and stop — the growing outbreak.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright activatrade.ca
Privacy Policy | Terms of Service