File Size: 1282 KB
Print Length: 304 pages
Publisher: Thomas Dunne Books (July 21, 2015)
Publication Date: July 21, 2015
Sold by: Macmillan
Language: English
ASIN: B00PF818US
Text-to-Speech: Enabled
X-Ray: Not Enabled
Word Wise: Enabled
Lending: Not Enabled
Enhanced Typesetting: Enabled
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For more years than one cares to remember, Africa has been profiled as the continent to watch, the next economic powerhouse, the “lion economy” in waiting. Yet we still wait and we still watch… The “Next Africa” might be different, assuming the continent hasn't been plundered by its rulers, sold off to foreign investors for the rich commodities available, or managed to destruct itself due to wars; or a combination of many factors.The authors are optimistic, they believe that people will change what they think about the continent; they believe that the old problems (perceived or actual) that are arguably holding it back will be no more or significantly reduced. They forecast that the continent will be hit by a “… wave of transformation driven by business, modernization and a new cadre of remarkably talented Africans (that will thrust) the continent from the world's margins to the global mainstream.”Maybe this time? Who knows. Will the continent be able to rise, unite, develop, extend itself and benefit from the changes, or will it be sunk by the “old problems”. Maybe it will be “treated” to the taste of “democracy” by other governments? The authors mix their own experiences with detailed research, personal profiles, interviews, analysis and maybe a little bit of crystal ball-gazing for good measure.Africa is increasingly under the eye of global business as well as a few fairly large national governments. You would not expect anything else. Is Africa ready this time to make the leap? Possibly: the disruption can come through technology and modernisation programmes leapfrogging the old and tested way of doing things. Innovation is already happening because of need. What happens in Africa does not necessarily stay in Africa.
The Next Africa: An Emerging Continent Becomes A Global PowerAuthors: Jake Bright & Aubrey HrubyBy: Irwin Barkan August-2016In April 2014 Nigeria quietly passed South Africa as the largest economy in Africa, its GDP registering at $510 Billion – a staggering increase of 1,600% from its 1990 GDP of $31 Billion. The country also proudly announced the completion of a historic $1 Billion bond placement with J.P. Morgan to global investors. Then the primary facilitator of the bond issuance – Lamido Sanusi, the respected governor of its Central Bank – was fired by Nigeria’s President, Goodluck Jonathan, after he exposed a $20 Billion fraud involving state oil revenues being perpetrated by the President’s associates.So goes one of the world’s most dynamic economies; always seemingly moving two steps forward and one step backward. And since reaching these economic milestones in 2014, the Nigerian economy has been beset by plummeting oil prices, currency devaluation, energy shortages and the continuing Boko Haram insurgency – resulting in its slowest economic growth in decades.Despite this series of developments and the resulting slowdown, Nigeria and Sub-Saharan Africa remains one of the fastest growing regions in the world. This is reflected its foreign direct investment (FDI) levels in 2015, where FDI project numbers increased by 7% and despite all of this tumult Nigeria successfully transitioned to a new elected government affirming its commitment to democratic traditions.In all these ways Nigeria reflects the enormous potential of Sub-Saharan Africa which is being realized in fits and starts, not unlike any region moving into second-world status.
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