Idris Mohammed talks about the wealth creation party that everyone is invited to. African marketplaces are providing some of the highest return on investment in the world, and it’s open to the world.
There’s a big issue that Idris brought up, he askes, “Why is it so difficult to raise private equity in Africa, yet we have billions of dollars going towards aid?” He suggests that maybe the G8 should divert some of those funds towards private equity markets in Africa.
I agree. I understand that the perception of risk is what holds many foreign investors back. However, the reality of the situation on the ground in Africa is a far cry from what is generally talked about in the media. In my travels, talking to technologists and entrepreneurs in South and East Africa, I’m continually struck by how much opportunity and growth potential there is here. While many investors sleep on these opportunities, a few will become millionaires and billionaires.
George Ayittey, author of Africa Unchained, has just walked on the stage… Wow!