Saturday, January 12, 2013

Three Must-Read Articles on Africa's Economic Rise


Before writing A Poet Speaks of Empire, I did a great deal of reading on the new developments taking place in Africa. The book was a great excuse to continue learning about life on the continent. Here are three articles about Africa's economic rise that I found particularly insightful. Each one of these stories is evidence that things are changing quickly and that the idea that the continent is doomed carries less weight.This is the premise of A Poet Speaks of Empire. Please read these articles at your leisure.


“Africa next: With investment outpacing aid, is this a new golden age for the poorest continent?”

This is far and away the most comprehensive article I’ve read on Africa’s economic rise and the many changes that are taking place on the ground. It not only discusses the possibilities present on the continent, but teases out many of the dilemmas faced in this new era of fast-paced growth and relentless investment. If you only have a few minutes to devote to this reading, skip to the last page and read the information contained under the title, “By the numbers.” This section very succinctly breaks out the metrics of growth and development taking place in Africa. We learn that consumer spending will double by 2020 (evidence of a growing middle class); that Africa’s projected annual growth rate will be higher than Asia’s by 2020; the number of major wars has dropped to four (on a continent of 50+ nations and 700+ tribes/ethnic groups) from 20 from 1960 to 2000; and much more. The numbers are staggering and tell a very positive story about Africa’s future. Click here to read the article or copy and paste the link below in your internet browser.



“Upwardly Mobile”


This article is case in point of the rapid change and development taking place in many nations across Africa. Kenya is home to the Silicon Savannah—Africa’s tech hub. IBM has offices in Nairobi. There are 74 cell phones for every 100 Kenyans. 99% of all internet subscriptions are on cell phones. There is a huge market for cell phone related games, applications and more. High-tech business is booming in Kenya. Click here for more on this story or copy and paste the link below in your internet browser.



“Foresight Africa: Top Priorities in Africa in 2013.” 

In this report, the authors note that Africa is no longer viewed as the “doomed continent,” but rather is considered, quite positively, “emerging Africa.” With the continent now home to five of the world’s fastest growing economies, a rising middle class and an exceedingly more manageable place for doing business, questions emerge as to how to facilitate and maintain positive changes.  This report examines major policy issues which will need to be addressed from Africans’ perspective in the year to come. Issues examined include Africa’s burgeoning relationship with China (especially as it pertains to financial investment in African infrastructure, manufacturing and agriculture), the development of democratic institutions to moderate growth and development and presidential politics in Kenya. Click here to read the complete report or copy and paste the following link in your internet browser.