Can Africapitalism save the continent?

 

It is popular notion these days that the cure for the developing world’s ills is as simple as private sector investment, albeit with a responsible twist.
“Impact investors” and private equity firms with specific focus on projects that will positively impact upon Africa are being dubbed the new heroes of sustainable development, in which we place our hopes.

Nigerian banker Tony Elumelu is emerging as the ringleader among African voices calling for private sector solutions to Africa’s challenges. As a keynote speaker at the recent African Development Bank annual conference, and as part of a delegation of high profile African business leaders who met Barack Obama during his Africa tour in June, Elumelu preaches: invest in Africa and Africans will sort out their own problems. And that social progress will arrive as a by-product of the pursuit of profit. Read more HERE

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