Why Africa? Why now?
Clients ask: “Why is it different this time? Why will Africa’s promise finally be realised after decades of false starts?”
We see three key themes at work:
1. Governance is improving, underpinning stability and opening new areas to investment. With 700 million mobile phone users on the continent and technology helping the spread of information, citizens and businesses are holding elected officials to account. Rule of law is effective in a rising number of markets. Electronic payment systems and computerisation of government processes boost transparency and reduce corruption.
2. Consumers have money to spend, even at the lowest income levels. Agriculture sector reforms and investment are boosting aggregate spending power and middle-class shoppers aspire to higher-quality goods and services.
3. Funding is soaring for enabling infrastructure such as roads and communications.
We believe Africa has great potential and we are happy to be playing a role in realising its success.