Hey, Here's a Tip: Try Africa.
By Carol Pineau
Sunday, July 6, 2008; Page B02
P ssst. Have I got a great stock tip for you: Now's the time to buy shares on the Nigerian Stock Exchange. No, really.
I know that may sound like an e-mail from the spam box, but it's actually good investment advice. While U.S. markets have been struggling with the effects of the subprime mortgage debacle and threats of a looming recession, the total value of the stocks traded on the Nigerian Stock Exchange has doubled over the past year.
n recent years, Africa has offered the world's highest rate of return, according to United Nations trade figures, and yet the continent would be far down most people's list of investment destinations, with China and India probably at the top. But while we look to invest in China, the Chinese are looking to Africa, where new roads, ports, bridges -- the infrastructure the continent so desperately needs -- are springing up everywhere, thanks to Chinese investment.
What the Chinese want in Africa is what we all want -- the continent's abundance of natural resources, including oil and nearly every strategic mineral that we need for our daily life. Africa recently overtook the Middle East in exporting oil to the United States. The Democratic Republic of Congo has about 80 percent of the world's reserves of coltan, a mineral essential to powering cellphones and other electronic devices. We in the West talk about how much Africa needs us. The truth is that we need Africa, badly.
Who knows how long Africa's current bull run will last? But one thing is certain: Africa's the last big investment frontier. If you missed China and India, don't miss this one.
www.washingtonpost.com/wp-dyn/content/article/...AR2008070303204.html
By Carol Pineau
Sunday, July 6, 2008; Page B02
P ssst. Have I got a great stock tip for you: Now's the time to buy shares on the Nigerian Stock Exchange. No, really.
I know that may sound like an e-mail from the spam box, but it's actually good investment advice. While U.S. markets have been struggling with the effects of the subprime mortgage debacle and threats of a looming recession, the total value of the stocks traded on the Nigerian Stock Exchange has doubled over the past year.
n recent years, Africa has offered the world's highest rate of return, according to United Nations trade figures, and yet the continent would be far down most people's list of investment destinations, with China and India probably at the top. But while we look to invest in China, the Chinese are looking to Africa, where new roads, ports, bridges -- the infrastructure the continent so desperately needs -- are springing up everywhere, thanks to Chinese investment.
What the Chinese want in Africa is what we all want -- the continent's abundance of natural resources, including oil and nearly every strategic mineral that we need for our daily life. Africa recently overtook the Middle East in exporting oil to the United States. The Democratic Republic of Congo has about 80 percent of the world's reserves of coltan, a mineral essential to powering cellphones and other electronic devices. We in the West talk about how much Africa needs us. The truth is that we need Africa, badly.
Who knows how long Africa's current bull run will last? But one thing is certain: Africa's the last big investment frontier. If you missed China and India, don't miss this one.
www.washingtonpost.com/wp-dyn/content/article/...AR2008070303204.html
