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• Published on 29 Apr. 2013 • Category : nyforum
Africa Investing in AfricaI recently wrote about foreign direct investment in Africa and the prospect of engagement among developing nations and the BRICS. But in order for sustainable development to be achieved across the continent, smart input from Africa’s own entrepreneurs and institutions must also occur. The question of intra-regional African investment is therefore a large one — and an increasingly urgent one. Last year in the Economist Magazine, Nigeria’s minister of finance, Ngozi Okonjo-Iweala, suggested that in 2013 “‘Africa investing in Africa’ will b(...)
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• Published on 29 Apr. 2013 • Category : nyforum
A Focus on Africa’s Informal EconomyAfrica’s informal economy is one of the most innovative and inventive environments in the world. Yet it is an environment with little regulation in which workers are often exposed to hard conditions and live without a safety net. Technological advances mean that with a mobile phone, an African can start his own business: this makes for a fertile environment for breeding entrepreneurs and launching SMEs, but one that does not benefit the wider economy as much as it could. How can Africa create a balance between these opposing forces? This was one of the main topics of conver(...)
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• Published on 28 Mar. 2013 • Category : nyforum
Should we say BRICS or BRICA?I spent the past two days in Durban, where I attended the fifth BRICS summit. One of the most notable things about the conference was the prominent African presence there. 15 African heads of state were invited including leaders from Angola, Republic of Congo, Egypt, Guinea, Ivory Coast, Senegal, Chad, to name few. I suggest that when we talk of the key emerging regions in the world, we should use the acronym BRICA instead of BRICS. The entire African continent is emerging, and many countries are growing at twice the rate of South Africa, where the economy grew by j(...)
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• Published on 27 Mar. 2013 • Category : nyforum
The Challenge for BRICS and AfricaI am writing this from the BRICS summit in Durban, where it is clear that the huge momentum of these emerging markets – especially when it comes to their relationship with Africa – is not slowing down. Over the last few days, I have spoken with heads of business and heads of states: it’s clear that while countries like Turkey and Indonesia (including the $23.8 billion Airbus order last week) are flexing their financial muscle, there is still much more investment in Africa to come from BRICS. The investment isn’t just coming in infrastructure and mega projects. In Afric(...)
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• Published on 26 Feb. 2013 • Category : nyforum
Africa and the Six ‘I’s: Independence, Investment, Infrastructure, Innovation, Incubation, InspirationIt’s no secret that Africa has become a major success story. In 2012, six of the world’s 10 fastest-growing economies were in sub-Saharan Africa, and this trend shows no signs of slowing. In 2012, growth hit 5.3 percent and it is predicted to increase this year. Meanwhile technology is transforming the continent. With 650 million subscribers, Africa’s mobile phone market now exceeds that of the U.S. or EU — a development that is changing lives. In addition to these startling figures, there is Africa’s young population, which, according to projectio(...)
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