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Africa optimism rising
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.
There is certainly plenty of optimism outside the continent. Will it be fully realised this time around?
South Africa and Nigeria rank around 30 out of 158 on world GDP scale with immense probabilities.
Raw materials and crime for Africa with a fear of ‘white’ dominance reappearing creates a ‘beware’ signal of a loose-loose game to both sides.
Africa needs para-mount assistance to rid itself from the dark era of dictators and hunting aggression.
17 000 murders per annum makes this otherwise beautiful
South Africa a bit scary.
Raw materials and tourism has potential from those with impeccable credentials but wait till after next election for nationalization of mines could be implemented and land grab like Zimbabwe if the president of the ANC youth league comes into power.