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Posted on Friday, 02 November 2012 12:56

Projects to transform Africa

Image©ALEX GREEN/ILLUSTRISSIMO FOR TARFinanciers have their role to play in moving African economies towards the industrial-era growth that will create jobs for the many.

For the past 10 years, Africa has boomed as soaring commodity prices and growing domestic demand brought investors from across the world into the next great frontier market.

Foreign oil companies, mining giants and consumer goods firms are all finding the continent a fertile hunting ground and investors are seeing returns not matched elsewhere in the global gloom of stuttering US economic recovery, eurozone panic and emerging-economy slowdowns.

But unless Africa is able to start changing the structure of its economy, the same companies will be enjoying the resource and consumer boom while the continent will not have moved any closer to the industrialisation that it so clearly needs to share the proceeds of growth beyond the happy few.

This will require electrification. It will need upgrading of the economic infrastructure that currently locks Africa out of global manufacturing networks.

And it will require legislators to be more proactive to encourage industry. Fortunately, this is now starting to happen●

 

Read the whole dossier
Projects to transform Africa
North African sunshine into European electricity
South African infrastructure development for growth
Grand Inga, The ultimate African power project
Ethiopia's dams bring rebirth and power to East Africa
Oil and Gas: Nigerian banks get a boost and pass it on

 



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