African Business Flickers Even More

The Economist writes about the challenges and increasingly promising rewards of business in Africa:

This week an annual World Bank study once again named Africa as the most difficult region in which to do business. But not everyone sees it like that. Graham Mackay, who runs SABMiller, the world's second-largest brewer, has said that “if there was any more of Africa, we'd be investing in it.”...the reward for coping with the risk and the hassle come in large returns and a lack of competition. Successful businesses can expect to enjoy comfortable margins, rewarding them for their time and investment. SABMiller's best operating margins are in Africa; MTN's are over 42%...Successful investors say that Africa can be no harder than other emerging markets, but that doing business requires good local knowledge.