Africa – The New Business Frontier

"Africa is primed to be one of the great economic success stories of this century. Incomes are rising. Investments in infrastructure and technology are accelerating growth across a range of industries. Africa today is home to 700 companies with revenues greater than $500 million. Consumer spending is on track to climb to $1 trillion over the next four years. The workforce is projected to be the largest on the planet by 2040. The continent could make up a quarter of the global economy by the year 2050."

Does any of you out there remember what a frontier feels like anymore? Does any of you remember that itchy feeling of getting up in the morning and not knowing what to do first for everything looks good, everything is positive and everything has potential?

Well, that's the best way I can describe the amazing entrepreneurial environment here in Africa. Things are moving at lightning speed. Having 700 companies with revenue of a US$ 500 million a year, Africa is becoming a playing field for "Big Business" and great number of that business is indigenous. Infrastructure, food security, power generation, FinTech - you name it, young and bright entrepreneurs are changing the face of Africa. While the environment might not be the most enabling for growth, the entrepreneurs that do come on top in such an adversarial environment are ready for global business!

There is absolutely no doubt that there are many issues that still remain. Someplace issue is still security and survival, in the others the issue is infrastructure, corruption or law. But all that notwithstanding the development of African continent is amazing. Huge strides have been achieved over such a little time. Despite of all the negative press Africa receives in the shock and suffering-hungry scandal-press, the changes on the surface and in minds of people over the last 18 years I've been living here are just amazing. And it's not restricted to any particular part of the continent - no, it is, without doubt found - to a higher or lesser extent - present everywhere.

Despite of the popular misnomer of 'democracy before development', the access to cheap cash with no political strings attached has transformed both economy and democracy of the continent! While lots needs to be done in the area of civil society liberties, security and infrastructure the fact that economical boom has transformed that very civil society, made it more educated and less pliable to the influence of political elite, is brining about the much needed democratization. While many 'democratic' societies look at African political systems with disdain and contempt their very societies took millennia to get to where they are right now while Africa has achieved all this in the period of the last half a century or so.

So, instead of nitpicking, let us focus on investment, hard work and business - with the above, the process of democratization, liberalization and peace will inevitably seep in. Certainly a lot faster than in took us Europeans - not to mention the fact that we presently seem to be going backwards!