Connecting Africa to the World
Africa is the most promising investment destination of the next 20 years. And it won’t be foreign development aid or Western generosity that makes the continent boom but rather the doggedness and ingenuity of its own people. As an investor, you want to be part of this by owning shares of some of Africa’s world-class companies.
Looking at Africa today, you see the same pioneering spirit that defied all odds to settle the American West in the late 1800s. Consider the story of Liquid Telecom, a phone and internet infrastructure company based in southern Africa. Liquid has done something that no Western company would have the audacity to do: String fiber optic cable from South Africa, through Botswana and Zimbabwe, and across the Zambezi river into Zambia, a landlocked country deep in Africa’s interior. All work had to be completed by day, as using work lights attracts wild animals, and a section of cable was dug up by elephants and had to be reburied. These are not problems faced by Verizon (NYSE:VZ)) or AT&T (NYSE:T)), to say the least.