Future bodes well for Africa - 8 Feb 2010

It seems the African markets' ability to withstand the economic crisis of last year will hold the continent's emerging markets in good stead during the decade to follow. According to a report released recently by Business Monitor International, emerging markets will see a sharp rise in consumer spending power and by 2018 should equal the developed world's GDP, contributing 50% to world GDP. While these figures may apply more to BRIC countries these findings do bode well for the African continent as it too develops and grows into an industrial-based entity.

While Africa may have it's ups and downs on the business front with Zimbabwe's newsprint plant, Mutare Board and Paper Mills remaining inactive, but South Africa's Oasys expanding into the West African turf of Nigeria, we still have many lessons to learn in corporate governance before playing with the rest of the powerhouse nations. ICTs have and will play a huge role in our development and have influenced many of our lives not just in business, but personally as well. eLearning Africa is hosting an online-based photography competition asking people from the continent to enter their images that reflect how ICTs affect their daily lives. So get snapping if you want to win!