Libya’s $210m Investment in Sandton Yields Zero Benefits for the North African Nation’s People

Libya’s $210m investment in The Michelangelo Hotel and other properties in Sandton has yielded nothing for its people over two decades, due to mismanagement and ongoing legal battles.

More than $210-million in real estate investments by the Libyan government in Johannesburg’s “richest square mile” have provided no visible returns for the Libyan people in more than two decades, according to The Sentry, a US-based investigative NGO.

The flagship of the state-owned Libyan Investment Authority (LIA)…