A small sea of ink has been spilled lately over the “rise of Africa” as an exciting frontier market for investors from both advanced economies and other emerging markets. Africa’s relatively rapid growth rates, improved fiscal and debt management and improving political stability are painting a picture of the kind of robust economic prospects usually associated with India, China, Brazil and other middle-income economies. And despite remaining high risks associated with African markets, global investors increasingly find Africa’s potential returns compelling. For example, according to a study by the Boston Consulting Group, a hypothetical $100 investment in Africa’s 40 largest […]

In a speech in early April, World Bank President Jim Yong Kim declared that “extreme poverty,” defined as living on less than $1.25 a day, could be eradicated worldwide by the end of the next decade. In an email interview, Charles Kenny, a senior fellow at the Center on Global Development who has written on the Millennium Development Goals, discussed what ending extreme poverty means, and what it would take. WPR: What is the technical meaning behind World Bank President Jim Kim’s recent call to “end extreme poverty” by 2030? Charles Kenny: Kim is suggesting that we can reduce the […]

Last month, newly minted Chinese President Xi Jinping toured Africa promising more investment, stronger people-to-people ties and a more dynamic trading relationship with the continent. Considering that China’s trade with Africa totaled nearly $200 billion last year, this visit was more than mere window-dressing. India also has been staking out an aggressive strategy of engagement in Africa, building on its historical ties to Eastern Africa. Last year, Indian trade with the continent neared $70 billion. Where does this leave Japan? For years, Tokyo maintained an impeccable reputation across the continent as a result of its generous supply of overseas development […]