1. Economic ill winds hitting Africa – BBC and a video. Recently the complaints (my informal measurement of the business climate) from colleagues on the African continent increased sharply. The forecast for the growth in real GDP for Nigeria is about 3%, which is one half of last years real GDP growth rate. I am surprised the forecast isn’t bleaker, as Oil prices have dipped up to 60%. See Nigeria’s Economic Outlook prepared by Standard Chartered bank. (hat tip: @InvestinAfrica). Not to worry the IMF has promised to hold our hands through this. Finally, according to Mr Kofin Anan;
Failure to compensate for loss of revenues to maintain essential public services could result in extraordinary human suffering, and reverse progress in achieving the Millennium Development Goals: It will also result in increased social and political tension.
2. FACTBOX-Africa and the global crisis. Who suffers most? – Reuters.
A look at whats is going on with global economic crisis and where. A snapshot of the data as of today.
3. Social Capital Markets: Roxanne Miller on “Beyond Micro finance” – Next Billion
4. Something is wrong with this chart? Why are we paying a premium? From Bottom Billion Blog.
Thanks @Loomnie
5. June Arunga on Western Attitudes Towards Business in Africa – NYU-DRI via Vimeo
June Arunga on Western Attitudes Towards Business in Africa from DRI on Vimeo.
6. I did not make this up, someone from the Harvard Review did.
There would certainly be nothing wrong with this outcome except that their dependence on natural resource exports and a lack of economic diversification make such a leap all but impossible in a world where commodity demand is shrinking and where trade barriers might start growing again. Average Africans have much more to fear than fear itself. Who has the courage to stick by them?
7. Rwanda: The World’s Social Innovation Capital – BusinessWeek.
Tags: Africa, Business and Economy, Economic growth, International Monetary Fund, June Arunga, nigeria
