A decade ago, The Economist labeled Africa “the hopeless continent.” In December, the magazine predicted that “the continent’s impressive growth looks likely to continue.” Apologizing for their former Afro-pessimism, the editors now conclude “a profound change has taken hold” in the region.
Aside from the boom in commodity prices for copper, coffee, oil and gas, probably the most astonishing success since 2000 in Africa has been the communications revolution, which has reversed the sense of isolation, the long trips, and the inevitable waiting that had became a way of life.
A diverse group of determined African technocrats joined forces with globally oriented capitalists to launch a quiet revolution that has, in ten years, led to Africa’s dramatically improved economic performance, and a greater confidence.
What can their dynamic decade of growth teach the world?