Africa News blog
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When some of the most influential figures in emerging markets finance spoke to a group of Reuters editors, they were asked about top picks for growth beyond the so-called BRIC countries of Brazil, Russia, India and China.
One continent came up again and again – Africa – and one country in particular – Nigeria. Goldman Sachs global head of economic research, Jim O’Neill, highlighted the improvement in the growth-environment index of Africa’s giant over the past decade.
“If it were to show the same increase in its growth-environment score over the next decade, many investors will look back and say why the hell didn’t I invest in Nigeria,” said O’Neill, who coined the term BRICs.
You can read the full story here.
Recent interest in Africa has been buoyed by the World Cup while a series of reports have highlighted its prospects beyond the global crisis. There was a recent McKinsey study and Fitch has come out with an improved outlook for sub-Saharan Africa.
from Global Investing:
Could it be that rock bottom interest rates in the developed world are finally driving money into Africa?
Corruption, bureaucracy and uncertainties over debt restructuring all remain as barriers to investment in Africa, but overall the climate is improving, at least according to emerging market specialists who gathered recently at Thomson Reuters' London headquarters for panel discussions on African investment.