Posts Tagged ‘cameroon’

NOT so long ago, South Africa was by far the most serious and economically successful country in Africa. At the turn of the millennium it accounted for 40% of the total GDP of the 48 countries south of the Sahara, whereas Nigeria, three times more populous, lurched along in second place with around 14%. The remainder, in raw economic terms, barely seemed to count. (more…)

Advertisements

AFTER giving a speech at a business conference in London a young analyst chatted with investment executives in the audience, then followed two of them to a nearby hotel lobby. Over glasses of Chablis the executives raved about their company’s worldwide network of extravagantly decorated offices and their fat annual bonuses. Then they offered the analyst a job.

What surprised him was not their interest, nor the chunky salary, but the place where they wanted him to help invest their millions: west Africa, the most backward part of a poor continent. In recent years investors have been piling into Lagos and Nairobi as if they were Frankfurt and Tokyo of old. Anaemic growth in the rich world has made sub-Saharan Africa an attractive destination

(more…)