Friday, July 2, 2010

Africa's Biggest Score: A Thriving Economy

Was Ghana's extended-time victory over the U.S. in the World Cup elimination round on June 26 a precursor of what is to come in the broader global economy? Almost unnoticed, signs of economic life have begun to stir in that most unlikely of places—Africa. Despite its riches in natural resources and geographic proximity to Europe, Africa has been a perennial laggard on the global economic scene. Mention the phrase "emerging economies," and most people rightly think of Asia and Latin America. Few look to Africa as an economy of the future. That view might be changing. As then U.N. Secretary General Kofi Annan declared in 1999, "Africa's profitability is one of the best-kept secrets in today's world economy." Click here to read more from's Frank Aquila as he explains the ascent of African economies.