There are good reasons to worry which countries might follow Greece into tailspin of the ongoing debt crisis. But U.S. business would be wise to watch for the next market rise, not fall.
CEOs and investors look to emerging markets to provide growth, but unfortunately, Africa in particular continues to be seen as too risky for investors, no matter how many times rock stars or economists tell us that Africa is no longer the unstable, chronically impoverished place that it once was.
As business leaders with a wealth of experience working on the continent, we know that Africa is rich in business opportunities that yield high rates of return for investors as well as increased opportunities for the people of Africa. U.S. business leaders should take a fresh look at Africa and the significant growth taking place there, or risk being left behind.
Africa’s 10-year track record of robust economic growth is expected to grow yet again by 4.5% in 2010 and over 5% in 2011. That’s considerably higher than the global average of 3%. Significant policy reforms, greater political stability, improved rule of law, and progress at reining in corruption have created a sea change of opportunity throughout the continent.