Bhaskar Chakravorti in Quartz – “If the ‘Rising Africa’ hype has you eyeing investments in Africa, read this first”
“If the ‘Rising Africa’ hype has you eyeing investments in Africa, read this first” by Bhaskar Chakravorti
In June, global food giant Nestle was forced to downsize its operations in Africa, after having gone too big too fast because its managers had cast Africa as “the next Asia.” Belatedly, those same managers eventually realized that the two continents are, well, continents apart, and that Africa could not sustain the same growth they had seen elsewhere.
It’s an important lesson—for investors, for intellectuals, and even for politicians.