Sensible optimism on African economies

We find that Africa’s economic growth surge was widespread across countries and sectors and that its roots extend far beyond the global commodity boom.

While there remain risks to growth in any individual country, our analysis suggests that the continent’s long-term growth prospects are quite strong.

Africa’s business opportunities are potentially very large, particularly for companies in consumer-facing industries, resources, agriculture, and infrastructure. Global executives and investors cannot afford to ignore Africa’s immense economic potential.

That is McKinsey’s conclusion in Lions on the Move. It’s kind of breathlessly exciting and optimistic in the manner of all consulting reports, but rather good overall.

It also has many graphs that are thoughtful and interesting once you take the five minutes necessary to figure out what the heck is going on in a picture with eight different legends and notes.

Highly recommended.