Or Russia for that matter? It’s only a few years since the so-called BRIC [Brazil, Russia, India, China] wouldn’t have been touched by an investment bargepole. Nowadays they’re driving more markets than a French farmer.
It’s true, ask any plumber about the price of copper and he’ll even tell you which country’s caused the trouble. From the UK investor’s point of view it’s less about confidence and more about opportunity.
So is it ‘Into Africa’? The traditional strife and growing pains most recently exhibited by Kenya are the stereotypical western view of the continent - but a decade ago there would have been such echoes in BRIC.
Each sub-region has its issues but opportunities for stability are opportunities for growth. Africa’s resources have been tapped for centuries - but only the extremely lucrative ones that stood to mitigate risk and extraction costs.
More and more Africa-focused funds are emerging - from New Star, Stanlib’s Fidelity arm and Investec.
So could it be BRICA in future?
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