John McDermott, The Economist’s Africa correspondent based in Johannesburg, recently wrote The Economist’s cover story titled “The New Scramble for Africa.” Zemedeneh Negatu, Global Chairman of the Fairfax Africa Fund, and former chairman of Ernst and Young’s Africa practice, advises clients across the continent in sectors ranging from financial services to agroindustry. Joining us this week are two guests who bring a wealth of political and private sector expertise in this complicated region. Nonetheless, the past years have seen much of Africa enjoy unprecedented economic progress.Īfrica’s success also indicates how China is growing its global influence and the extent to which the United States has lost out on economic and political opportunities on the continent. Some parts of Africa are moving much faster than others. Endemic corruption and slow progress up the global value chain present serious hurdles to growth.
Flooded by foreign investment and with greater economic integration among its 54 nations than ever before, this diverse continent is going through a massive awakening. The world is woke to the latest African awakening – but how can the continent lock in recent gains and overcome barriers to integration and economic equality?Īfrica is transforming fast.
