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The final frontier
25 June 2008
Africa as a whole is one of the last untapped regions on the planet, historically mainly due to political strife, inflation and a general lack of investor confidence. But things are changing – slowly. Craig MacDonald speaks to the recently launched Insparo Africa and Middle East Fund about the opportunities ahead.
Over the past few years the emerging market regions that have garnered the most press and international interest have been emerging Europe, South America and of course Asia. But not Africa. According to Insparo Asset Management, there is much more to Africa than meets the eye.
Mohammed Hanif, chief investment officer, Insparo Asset Management says: "Historically the image for Africa has been barbarism, but the real image is a parent doing three jobs to be able to send his child to school."
Francis Beddington, head of research, Insparo Asset Management says: "There has always been opportunities to make money in Africa but it is more substantial now than over the past 20 years. It is the second fastest growing region in the world where $GDP has almost tripled since 2002."
So what's driving growth in Africa? Insparo's Beddington says: "A common misconception is that it is just a function of...
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