Thanks for the article.

Growth is most likely going to come from Africa in the next decade(s). This will be driven by favorable demographics, increase in income (albeit from a low base) and corresponding increase in consumption (propensity to save is low in some of the economies), and increase in both consumer and business sophistication. These will help to both stimulate demand and institute profitable supply channels.

However, there are few areas of caution: first, investors will need to keep an eye on the political landscape as mentioned in the article.

Second, investor need to ensure that the businesses they are investing in are configured to circumvent the hurdles infrastructural deficits pose. Business models and strategies that could circumvent the deficits are important because of three things- first, they reduce the cost structure of the firms significantly. Second, they often give firms with them competitive reach. Third, the infrastructural deficits are key barriers to entry which increases the long term productivity of industries in the markets. By playing with such models and strategies, the firms at play tend to capture the inherent profitability.

Finally, investors should make sure that effective corporate governance mechanisms are in place in businesses where they invest.

Regards.