Africa: A Good Bet for Foreign Investment?
Today's Financial News - Posted June 5, 2008
“I cannot forecast to you the action of Russia. It is a riddle, wrapped in a mystery, inside an enigma; but perhaps there is a key. That key is Russian national interest.” — Winston Churchill in 1939
Blogger’s note: Tom Bulford, editor of Penny Sleuth UK, may begin his article with a quote about Russia, but his real focus is Africa, specifically the continent’s infrastructure projects that will launch it into the 21st century. Africa should be lighting up in the next decade, according to Tom, who learned about all things Africa at the London Stock Exchange’s recent Africa Investment and Finance Conference. And investment into the continent’s economic growth could soon be profitable and safe for your average American or European.
by Tom Bulford
Baltimore and London – (TFN): Certainly Russia seems to have discovered where its self-interest lies, and now perhaps the same can be said of Africa. This was the message I received from a recent conference on the Dark Continent, hosted by the London Stock Exchange.
The most striking image displayed at the conference was one of the world at night. While lights glowed throughout Europe, North American and in parts of Asia there was hardly a glimmer in Africa and this very effectively made the point that where basic infrastructure is concerned Africa has a lot of ground to make up.
Foreign Investment is all Africa needs
And yet of course this should not be the case. Africa may be poor in terms of gross national product, but it is rich in terms of natural resources. It has, I learned, greater reserves of nine of the top ten minerals than any other continent. It has land and it has a climate in which crops grow. It has people, eager for work and for advancement. In other words it has all the ingredients for a successful economy – ingredients that so many other nations would like to have.
The question is whether this potential can be unlocked. Read on to learn the answer.
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