Now this is positively surprising, though not to many Africa-watchers…
Africa is hot for business now, and its popping up in Time Mag’s trend watch. Great to see that ideas espoused at TEDGlobal Arusha 2007 are reaching the ‘center’ from the fringes.
It’s great to see Time magazine present some trends that are not obvious, well-worn, are already over. They take a chance in this list of ‘10 Ideas Changing The World Right Now.‘ The line up includes not your usual suspects. With any list like this, there is no telling which are likely, but they are at least plausible. Two extra points for a positive African scenario. The ten trends are featured in the pic below; details at the link.
(Via KK Lifestream.)
In the back of my mind I couldn’t help but wonder…what of the global economic crisis? Wouldn’t that put a dent in this positive outlook? Oz has a great run down of how the global crisis affects Africa.
1. A slump in external demand affects exports and remittances.
2. A slump in external demand lowers commodity prices. Oil producing nations such as Nigeria are particularly vulnerable.
3. Lack of credit is stifling capital inflows and trade finance in the more advanced markets like Nigeria, Botswana, Ghana, Kenya, Mozambique, Tanzania, Uganda, and Zambia.
4 The region is not immune to financial problems of its own. Credit has ballooned in many countries. Banksâ€™ loan books are often concentrated in commodity-related industries.
5. Some retail investors borrowed heavily to punt on local stock markets.
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