Business in Africa
(Image : Business Tech)
“Seven of the 10 fastest-growing economies in the world,
are on this continent.”
We have long sung the virtues of South Africa’s businessmen, as well as reminding the world that Africa is the last continent of opportunity. Those who are familiar with our farm brochure, will recall that as long ago as the early 1980s, we surprised our readership with our assertion that when the “Asian tigers”, Eastern Europe, China and India had run their course, it would be Africa’s turn, and now seven of the 10 fastest-growing economies in the world, are on this continent.
We also turned a few heads when we reminded the world that this country, as a matter of fact, has produced more world-class companies than any other country of its size, and that’s because our business people have had to operate for many decades in circumstances of considerable adversity. Sanctions, penalistic interest rates, and a complex set of enabling (disabling) regulations have all made the entrepreneurs task a difficult one. But this is what this country is about, brimming not only with talented individuals, but with a God-given gift of rich resources, fertile land, and in many parts, a generous climate.
It’s not surprising then, that a survey just released by Credit Suisse, found that the best South African companies and their managers outshine their peers anywhere in the world when it comes to returns on capital invested over the past ten years.
“South Africa’s listed companies have one of the highest median cash flow returns on operating assets (or CFROI) in the world, making South African managers some of the best stewards of investors capital”, the report entitled “South Africa’s Capital Excellence”, says.
We live in a frantic, aromatic, run-through-the-bushes-world, grappling, yes, with a couple of steps forward and a couple backwards, but with the energy, the enterprise and the pioneering spirit of a nation ready to take the next steps in a world, despite its maladies, that’s ready for the next generation’s taking.