Word: saharans
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...African entrepreneurs; two very different stories. Together they illustrate the promise and pitfalls of business on the world's second fastest-growing continent. Africa? That's right. In October, the IMF predicted that sub-Saharan Africa's real GDP will grow 6.75% in 2008, versus 7.2% in Asia, 3.2% in Europe and 1.9% in the U.S. Growth rates in several African countries evoke the Asian tigers of two decades ago, prompting keen international interest. In October, London-based New Star Asset Management announced the creation of a $200 million Heart of Africa Fund...
Take Kenya. The sub-Saharan nation ranks abysmally on many basic measures, such as favoritism in decisions of government officials (115th) and business impact of malaria (113th), but on some more sophisticated metrics it does quite well--eighth for legal rights tied to the financial markets and 31st for quality of scientific-research institutions. Skipping the basics while nailing the more complicated stuff is a counterintuitive yet increasingly widespread trend--think of the places in Africa that leaped from no phones to cell phones, bypassing landlines--but whether a country can excel in the long run without a more stable...
...this, and even a conscientious objector is hard pressed to emerge unmarked by an irrational conviction that things in this country are, in fact, bigger and better than they are at home.At the end of the day, some international students have it easy. Plenty of Harvard graduates from sub-Saharan Africa return home to make immense contributions to countries where their expertise is desperately needed. They may not tread the usual path to New York high society, but they leave college assured that they are making good on their education. In a sense, they transcend the usual expectations; for them...
...always sought protection for their farmers as a way of preserving the rural environment and village life. Nick Stern, chief economist of the World Bank, recently estimated that total agricultural subsidies in the rich world were worth $300 billion a year--about equal to all the economies in sub-Saharan Africa...
...also scores well on some perennial African problems. It is one of the safest countries on the continent. It boasts the highest percentage of women in parliament anywhere in the world - 49%. Its rate of HIV infection is at 3% - tiny compared to the figure in other small sub-Saharan African development stars, such as Botswana and Namibia - and all its 35,000 aids sufferers are on antiretroviral drugs. It is investing heavily in education. The government is also tackling overpopulation, which - in that it describes a situation of too many people on not enough land - was an underlying cause...