Extreme poverty and business development strangely enough go hand-in-hand. Effective business development can help to replace the burden on aid, but it is by no means a silver bullet.
Writing in the Financial Times, Michael Keating last week provided a good reflection about perceptions. This picks up an idea which the Swedish statistician Hans Rosling speaks about often- that is, the term ‘developing country’ is less relevant now than it was in the past. More so, looking at continents are ‘developing’ or ‘developed’ is just plain inaccurate.
The explosive growth of commercial activity in Africa, both local and international, cannot hide the reality that the continent remains a difficult place to do business.
Africa tends to get a worse press than it deserves, much to its own business community’s frustration. No one talks about Asia as a homogenous block in business terms, lumping Myanmar in with Malaysia, or South Korea with Nepal. Africa is equally diverse. Business conditions vary widely among its 52 countries.
Understanding ‘the other’ is an important step towards the eradication of poverty from our world.