Investing for Profit in Africa
Dec 29th, 2007 by Nut
Here is an interesting article from Business Week (via MSN Money) that shows how bad off Africa still is and how charity, after years of trying, hasn’t helped better the region as much as investing for profit might.
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“how bad off Africa still is”..uhh, Africa is not a monolith. Please get that straight. There are many success stories across Africa, but there is so much residual damage from the greedy European predecessors that no one knows what the next move should be. Add to this the race by Europe, the West, and Asia’s for Africa’s natural resources. African countries’ success lies in far more than charities, most of which waste so much in administrative fees/pay that they render themselves useless. Investing for profit will not solve problems for many African countries, unless investors are determined to adopt different business models and ETHICS separate from prior investors and greedy opportunists.