Africa is projected to be the fastest growing continent on earth. If Africa can not benefit from the current food price surge (60% of the worlds unused agric land is in Africa) and increase in commodity prices, then Im afraid that Africa will never develop. If by the middle of this decade we still havent seen several nations begin to arise with Asian-style fast BROAD-based growth with food suffecieny and industrilasation then i will practically give up hope.
My choices for ‘safe bets’ to make it.
1) Angola:
Oil and diamonds abounds, small population with fertile soil able to grow a wide range of crops. Huge untapped tourism potential. Tribal conflicts not an issue so relatively stable. Immensely corrupt leadership but still development continues at an astonishing pace- similar or even more than Nigeria during the 70s. Hope Angola has a better ending. Sonangol, integral to the economy, will grow into one of the biggest companies in Africa within a decade and will become the first large SS African multinational outside SA.
2) Ghana:
One of Africas most stable democracies. Free and fair elections over the last 10 years with 2 changes in government with no problems. Tullow oil have just discovered a 2nd huge oil field, if this is as big as the first- then Ghana would be producing 500,000 barrels just from these fields, for a population of just 25 million. It will be interesting to see if Ghana succumbs to the Dutch disease and corruption. One major setback is Ghanaians can be excessively laidback and non-dynamic when it comes to business compared with other African nations.
3) Rwanda
Africa talks while Rwanda does. Ambitious infrastructure programme. Its compactness and density makes development easier and cheaper to achieve. Kigali due to have citywide wifi soon. Getting a lot of aid and investment due to Western guilt over genocide. Outsourcing, tourism and IT will be the engines of growth. Strongman leader reminescent of Lee Kuan Yew of Singapore. Incidentally, its the Singaporeans who are developing the Kigali masterplan.
Wild cards: These are nations that could go either way due to political or social instablity.
Nigeria: Oil, religious warfare,corruption continue to hold this nation back. Booming banking sector but manufacturing still lagging. Still unable to produce enough power despite ample natural gas.
Kenya: Was in my top few before the election violence, Ongoing corruption and tribal animosity still a big problem. Still one of the most industralised SS African nation with relatively goof infrastructure;
EG: Small nation, small population- lots of development going on here but it still remains a 3rd world petroeconomy- looks to be heading the way of Gabon- relatively high standard of living based solely on oil sales rather than any other meaningful sector of the economy. With such a small population this could easily be the Switzerland of Africa if the government changes. Im guessing a coup will eventually oust the ruling corrupt Obiangs.
DRC: No more needs to be said. Minerals. Fertile soil. 25% of the worlds untapped hydroelectric power. When the troubles of the East subside the nation should flourish.
South Sudan: A brand new nation. Lots of tourism potential, oil, fertile soil, minerals. Could enter such a meltdown on independence as the tribes fight it amongst themselvers for power and money. If it doesnt, it has a bright future.
Ivory Coast: Still has one of the most developed economies in SS Africa with good infrastructure. If elections take place this nation could quickly become numero uno again. Shares the oil belt with Ghana.