In one of my previous posts ("Can Greed Save Africa?"), I shared a remarkable report on a series of very profitable business ventures undertaken in some of the rare spots on the African continent. A couple of week ago, I was delighted to read two FT articles with very meaningful titles: "Investors start a new scramble for Africa" by Robin Wigglesworth and "Global inflows to Africa at two-year peak" by Alessandra Stevenson and Andrew Browman.
In the aforementioned post, I celebrated the evidence that human greed and capitalism, even if to the extreme might in the long run construe a viable solution to African's poverty curse, whilst building the fundamentals for private sector initiative in the short term.
The global financial crisis did dramatically reduce some of the capital inflows into the continent's bourses, shielding Sub-Saharan Africa from its proper form of financial bubble which nearly brought the global economy to its knees.
In the meantime, when US and EU investors were staying in their office to speculate on the African's future, Chinese investors were scrambling to position themselves on the continent. It is an exception today if you have the chance to know about a Sub-Saharan African country without a Chinese stampede. The Chinese model is aggressive, involving state-owned giants in the likes of Sinopec, the communist state Sovereign Wealth Funds and the private sector.
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