Why Africa; why now?

When I was a young man starting my career, Asia was the continent of growth and opportunity. That’s why I came here in 1996, and haven’t left.  

I believe Africa will be the new Asia. In the past decade, 7 of the world’s 15 fastest growing economies have been in Africa.  Post-pandemic, there’s no reason this won’t continue.

The UN projects that total consumption in Africa will triple by 2060 and quadruple by 2100. Moreover, this will coincide with America’s, and Asia’s total consumption eventually peaking and declining. Read the full article here . . .

Last Friday, zero shares traded on the Dar es Salaam Stock Exchange. The same day, the NASDAQ in the USA traded 6,572,850,000 shares – an all-time high.

I believe one of these statistics signals an opportunity, near the bottom. The other signals danger, and may be the harbinger of an impending top.

But that’s just my opinion. Others will vehemently disagree. Read the full article here . . .

Sometimes you come across a market situation that makes NO SENSE… where companies are reporting significant increases in profits, yet their shares prices are low, and investors continue to sell them.

It’s at these rare times, when you can buy GROWTH assets at give-away VALUE prices that the seeds of vast future fortunes are sown.

In my 25-year career, I’ve only seen two such opportunities that were as glaringly obvious as the opportunity I see in Tanzanian stocks today. Read the full article here . . .

Earlier this week, several people forwarded me a link to a recent article published by The Economist, which makes the bold claim that Tanzania’s official economic statistics are bogus.

Among other things, the nameless author (a feature of The Economist is that it has no by-lines) claims that cement sales by the top two firms are “flat,” and bank lending to companies slumped. To quote the article directly Read the full article here . . .

In a word: Demographics. They are going to go from being a drag on growth, to a major contributor to growth.

It’s going to happen quite fast, inside one generation, as it did in Asia.

By 2040, there will be more working-age people in Africa than in China and India combined. And it’s these people that drive economic growth with their output, and their expenditure. Read the full article here . . .

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