Africa on the cusp of a colossal opportunity
Experts report that the continent could mirror growth in Asia if it embraces the fourth industrial revolution
Recent political changes in Africa have sparked optimism that the continent, once perceived as a hopeless region, is on the rise again. Angola’s Jose Eduardo dos Santos and Zimbabwe’s Robert Mugabe vacated office in 2017 after a combined 75 years in power. The new leaders of the two Southern African nations, João Lourenço and Emmerson Mnangagwa, have both promised to root out corruption, open up their economies and create a business-friendly environment to attract investment and create jobs. In SA, the continent’s economic powerhouse, the election of President Cyril Ramaphosa following the reluctant resignation of scandal-ridden Jacob Zuma, promises to kick-start the country’s struggling economy and avoid a further credit ratings downgrade. According to the World Bank, growth in sub-Saharan Africa is estimated to have rebounded to 2.4% in 2017, after slowing sharply to 1.3% in 2016. The rise reflects a modest recovery in Angola, Nigeria and SA — some of the region’s largest economie...
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