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Nadeem
Veteran Investor
Joined: 11 Jul 2004
Posts: 639
Cash Points ££ 13955.74
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 Posted: Fri Jan 12, 2007 4:31 am Post subject: Investing in Africa - First buy signal in 22 years ! |
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Twenty-two years ago I told investors to clear out of all investments in Africa. I said, “Don't look back. Africa will not recover from colonialism and apartheid for decades.”
That was good advice. Between 1975 and 2001, Africa's per-capita gross domestic product fell an average of .7% per year. Since I issued that all-out sell signal, Africa effectively became a “lost continent.”
When apartheid fell — even though it was the best thing that ever happened to South Africa — I knew things were going to get worse before they got better. The country wasn't prepared. Its systems weren't ready for the newfound freedoms.
So even when it came to gold mining, I told investors to stay away from Africa. It didn't matter how much gold was there. The economy was so bad, political strife and corruption so intense, that I saw almost no chance of making profits in Africa.
But all that's finally changing. South Africa, in particular, is becoming a nation of growing prosperity. In 2005, the overall African economy expanded 5%, its fastest rate in decades. While 2006 figures have yet to be released, it's expected that Africa as a whole gained about 5.5% for the full year.
There's no question that Africa has a long way to go. AIDS and poverty are still mammoth issues. But I've seen enough data to convince me that things are turning around. And that's why I think Africa could soon become the next big player to enter the world's economic stage.
One reason ...
Africa Is a Direct Beneficiary Of the Global Commodity Boom
As the second largest continent on the planet, Africa covers some 11.7 million square miles and contains 53 countries. And it's also home to some of the largest deposits of natural resources in the entire world.
Together, Nigeria, Angola, Algeria and Libya produce a substantial portion of the world's crude oil. South Africa and several other African countries are a major source of the world's gold output. Botswana and Sierra Leone are major sources of diamonds.
Africa is also home to some of the world's largest deposits of chrome, bauxite copper, manganese, and uranium. Not to mention tropical hard woods, coffee, cocoa and rubber.
All told, Africa is home to:
88% of the world's platinum group metals
80% of the world's manganese
21% of the world's gold production
26% of the world's non-OPEC oil
80% of the world's diamonds
So, by my very rough estimates, the commodity boom of the last few years has beefed up Africa's balance sheet by at least $3 trillion. These huge assets now represent a highway to improvement for hundreds of millions of people.
Plus ...
China Has Been Making Big Investments in Africa
Full Article - http://www.marketoracle.co.uk/Article214.html |
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JayJay
Newbie
Joined: 25 Oct 2006
Posts: 18
Cash Points ££ 333.60
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| Posted: Wed Jan 17, 2007 2:49 am Post subject: |
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Thanks thats really useful !
All we hear these days is china, india, china, india
I have a feeling that, thats old news now, its refreshing to see soemthing more cutting edge ! |
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