Africa's Economic Prospects Have Never Been Better

Fifty years after British prime minister Harold Macmillan spoke of a wind of change sweeping across the African continent, the sort of development he envisaged may finally be arriving. As nation after nation won its independence half a century ago, the hopes were high that freedom would bring those fledgling countries prosperity. Sadly, for most of those that showed so much promise, there have been lost decades during which military dictatorship and corruption, civil wars, foreign invasions and genocides and a combination of ideological imperatives and ineptitude held back their development to such an extent that many outside observers wrote off the entire continent as a basket case.

As a new wind of change blows across Africa, those who believe the continent is a lost cause are becoming an endangered species. Outside of Somalia there are fewer conflict zones than in living memory. There are more, and better-functioning, democracies. And while some African nations still score poorly on transparency, human rights and corruption, improved governance is gradually spreading through the continent as the economic benefits of playing by the rules become self-evident.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Michael Diaz Jr. - Diaz Reus International Law Firm | Attorney Advertising

Written by:


Michael Diaz Jr. - Diaz Reus International Law Firm on:

Popular Topics
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.