Download PDF by Terence McNamee, Mark Pearson, Wiebe Boer (eds.): Africans Investing in Africa: Understanding Business and

By Terence McNamee, Mark Pearson, Wiebe Boer (eds.)

ISBN-10: 1137542802

ISBN-13: 9781137542809

ISBN-10: 1349507083

ISBN-13: 9781349507085

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Extra resources for Africans Investing in Africa: Understanding Business and Trade, Sector by Sector

Example text

The Wangara also developed a system of credit that helped many West African groups to trade with, or for, them as retailers and partners in localised areas. Much of this credit system was based on a system of trust, which itself was cultivated over long periods of repeated transactions. This early example of the benefits of standardisation and monetary linkages holds particular lessons for how pan-regional investments and business operations can lay foundations from below for the much talked about West African monetary union.

Connecting the nodes of kola nut supply in Akan country (modern Ghana) and of demand in the Yoruba-Borgu-Hausaland axis (modern Nigeria), on the visionary premise that demand for the stimulating and ritual utility of kola nut would grow, produced one of the most lucrative commodity trading system in precolonial West Africa. This ability to see into the future and to invest in the prospect and promise of good returns entailed educated risk taking and is an example for today’s ambitious African investor.

173. 2 Why Governance Matters for Investment John Endres After decades of decline, per capita incomes in Sub-Saharan Africa started rising from 1995 onwards. By 2008, they finally passed their previous peak of $941, seen 34 years previously, in 1974. 1 These changes in the averages are encouraging and have played a large part in sparking the ‘Africa rising’ story, but they represent only a tiny sliver of how Africa has changed over the past two decades. There have also been dramatic changes at the very top end of the scale, namely, in the wealth and identity of Africa’s most prosperous citizens.

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Africans Investing in Africa: Understanding Business and Trade, Sector by Sector by Terence McNamee, Mark Pearson, Wiebe Boer (eds.)


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