Africa: Bad Business

Africa is a notoriously difficult place to do business. Many investors remain sceptical of their ability to navigate the continent's often murky operational environments, where weak governance, regulatory failure and unstructured economies have created the conditions for corruption to thrive.

The scale of graft has been particularly noteworthy in extractive industries. As a result, the citizens of many African countries rich in oil, gas and minerals are mired in poverty. Rather than investing resource revenues into infrastructure, health care and education, governments, often in collusion with the private sector, have diverted the proceeds into their own pockets.

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