How We Made It in conversation with Peter Guest:
More here...in his new book 419: Africa Rising and Other Clichés, Guest questions this sudden about-turn in reporting and commentary about the continent. In an interview with How we made it in Africa, Guest explained that the title is a comment on unchecked optimism about the continent’s improving business environment and economic progress...Guest says despite the fact that there has been growing optimism about Africa over the last five years, doing business on the continent remains extremely difficult. “This continent that we ignored from a business and economic perspective for decades is now this great new consumer and commercial paradise. My experience has been that it really isn’t… Right now everyone is saying…. it is a great place to do business, [but] 99% of the time it is impossible from every standard.”
Peter Guest
However, Guest says he hasn’t turned into an Afro-pessimist. “I am still absolutely convinced by the huge potential that there is in parts of the continent, but this book is really an attempt to highlight some of the nuances… We hear all these statements like Africa rising, and we think that means that I can double my money anywhere from Cape Town to Bangui to Banjul to Cairo. The truth is you’ve got 54 different countries with vastly different economies.”
He notes that while a few individuals are benefitting from an increase in foreign investment, this wealth is generally not trickling down to the average person.
