As the financial markets of the world crumble, investment opportunities in Africa are still highly profitable. In the TED talk posted above, Nigerias former finance minister Ngozi Okonjo-Iweala suggests there is “a new wave on the continent” in terms of democracy, transparancy and opportunity. Sectors like energy, telecom, housing and retail are in their infancy, meaning they need investment and suitable policy, but are very likely to grow substancially.
One part of it is the new middle-class of educated Africans and their demand for goods. Some of them have lived abroad and aquired new tastes there, all of them are making money that give them room to spend. However, they need things to buy.
I have myself a few things on a list of things that I would like to purchase, but haven’t seen anywhere (a bar-height table, a comfortable and affordable sofa, silver earrings) and information about where to find stuff is part of many conversations I have with others here.
With the financial crisis in the North, it is likely the so called development assistance is coming to an end. However, just as Ngozi Okonjo-Iweala says in the video clip, growth in Africa is probably more dependent on solid investments leading to more jobs thus sustainable growth, than it ever was on aid.