It’s easy to see why until recently Africa has been a hard sell. It is still regarded as a place for charity rather than investment. But that view is out of date: much of the continent is booming now and investors are wising up.
The economy of sub-Saharan Africa is expected to grow by 6 per cent this year. Compare this with the eurozone’s paltry 1 per cent, and you start to see why smart money is moving from the old continent to the dark one. ‘Economists have had to rip up their numbers for how rich African households are — they were too low,’ says Charles Robertson, author of The Fastest Billion, a book about Africa’s economic revolution. ‘And this is just part of a much improved story.’
As a Brit of Nigerian ancestry, I was pleased that Robertson regards Nigeria as Africa’s most exciting economy.