Africa and Opportunity

At the "...2005 Wharton Global Business Forum Africa Conference, entitled "Unveiling the Value; Demystifying the Risk." Speakers described the continent as bursting with opportunities, challenges and pitfalls for local and foreign companies, but the emphasis was decidedly on the word "opportunity...Paa Kwesi Nduom, minister for public sector reform in Ghana, noted that his country had reduced inflation from as high as 45% in recent years to a current level of under 15%. "You are operating in an environment where there is a shortage of everything," said Oyebode, speaking for Africa as a whole. But for companies that succeed, he stated, return on equity can approach 50%...One theme that ran through the conference was the idea that economic growth in Africa would tend to occur more rapidly in an atmosphere of reduced government regulation and greater political reform. Oyebode(Nigerian lawyer), for example, predicted that there would be greater opportunities for business in Liberia following recently held elections to replace the authoritarian government of former president Charles Taylor..."Some countries are ready for change and are indeed implementing reform. Others need to be encouraged,"noted Nduom. "We have a small group of countries that need to be dragged along. And that must happen. We have come to understand that we cannot achieve accelerated national development, create wealth and eradicate poverty without reforming the public sector..."
Via Knowledge@Wharton