Why investors need to wake up to Africa

ON EMERGING MARKETS

With the BRIC story now in the investment mainstream, other new and exciting opportunities are beginning to emerge, and in our view, perhaps one of the most exciting of these is Africa.

With a GDP Growth rate of 4.9% in 2010 and 5.3% expected in FY 2011, the African economy is growing faster than that of any other continent outside Asia. Investors are waking up to Africa. As the continent moves more of its resources into industry and services, it stands to become an economic powerhouse, making not only its citizens wealthier, but its influence more global. China has been steadily ramping up investment into the continent over the past decade. It poured $5.6bn into Africa in 19962; which reached a whopping $127bn by 2010 and is expected to set a new annual record by FY...