The rise of South Africa and Nigeria: why Africa is now an economic powerhouse

The world at large has always thought of Africa as a land of opportunity, a third of a billion people who should always be the first choice for investment, especially due to the continent’s vast potential — and its location. This often overrelies on the notion that the roads to investment on the continent lead south. This day and age, it’s increasingly clear that the continent’s economies are leaving the south.

Two of Africa’s highest-performing economic success stories from the last 10 years are now changing their names: South Africa and Nigeria. Their flagship companies are SABMiller, the maker of beers like Peroni and SAB, and Citigroup, one of the world’s largest banks. With the ascension of these companies, Africa took a step from the middle to the top of the global business map, alongside other stars, like Brazil, Canada, Mexico, South Korea, and the United States.

Read the full story at The New York Times.

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