Africa: The Next Destination for Investment?


I would appreciate the input of the economic, investment and finance people out there. In this era of economic doom and gloom, African economies resisted the global recession and handled it quite well.

Going forward, many analysts highlight Africa as a region for future economic investment and return. Nigeria and South Africa especially have a market with over 200 million people between them. South Africa’s confidence has been boosted by its successful hosting of the World Cup, and Nigeria is as always, an energy (oil) giant.

Statistics

*Africa’s economic growth is forecast to be 4.75% in 2010

*In 2011, half of the world’s 10 fastest growing economies are expected to be in Africa.

*Nigeria’s economy grew by over 7% in the first half of 2010, and is predicted to grow by 10% next year.

Goldman Sachs’ global head of economic research Jim O’Neill said of Nigeria: “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”.

http://ca.reuters.com/article/businessNews/idCATRE6660O120100707?sp=true

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4 responses

  1. Folks,be careful here. We heard much the same about Ghana in the 90’s and how everyone was going back home. For my part I think this whole thing has nothing at all to do with Africa but an attempt by the West to stop China’s inroad into the continent(ever heard of that contrption called Africom and how it is designed to “help Africans help themselves…. wink..wink…”I don’t see how the Nigerian economy can grow by 7% by renting oil alone. This is not real growth by any stretch of the imagination. This is lunacy if you want my candid opinion.

    1. Well let’s be positive, and hope that this is the beginning of a PERMANENT economic improvement.

  2. I have always suspected Nigerian government of cooking up the stats. We are always told d economy is growing by this and that percentage, but when you visit the hospitals, schools, ply the roads, walk the streets and see bowl-in-hand children and destitute everywhere, and get close to some of these treasury hijackers, you will understand that the economy actually grows, but only in the books. Some of them will secretly tell you that most of the policies are not realizable. Only when we start seeing the growth in the people can we believe that the elephant-body-with-a-mosquito-leg economy is growing.

  3. Friends I do not want anybody to get me wrong here. I am trying as much as possible to be realistic here. I am quite advanced in age(meaning I am a seasoned citizen) and ever since I was a youngster the same sweet stories ahve been bandied around only for things to get worse. I just don’t believe anything coming out of that boondocks of a country.It just won’t happen. For instance, the country for the past 50 years has been unable to provide ordinary potable drinking water for the citizens. I am not looking for a huge task like good roads, electricity or manufacturing. No way and no how on these big tasks. Just drinking water, folks, drinking water is all am asking for. This sure as hell ain’t no rocket science but it is not happening anytime soon.I must admit that the academic exercise called Vision 2020 looks darn good on paper. However, the paper it is written on is now somewhere in a landfill, not even good for recycling. Folks, all hope is lost. It has been 50 years and nothing to show for it. 50 years my friends.

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