Alemneh Wasse News Ethiopian Dam, Alemneh Wase BeZehabesha – Everyone should start defending GERD. Foreign investors now view the continent as their next frontier. The US investment bank Goldman Sachs, for example, points out that Africa’s potential includes much more than natural resources. The continent is now ascending “the consumption, urbanization, and perhaps industrialization curves that the BRICs [Brazil, Russia, India, and China] have climbed.” Indeed, household consumption in some parts of Africa has overtaken that of the BRICs.
But, amid Africa’s new growth and dynamism, too many of its people – what the economist Paul Collier calls the “Bottom Billion” – continue to suffer from poverty, unemployment, illiteracy, and curable diseases. Africa scores poorly in the United Nations Development Program’s latest Human Development Index – only Mauritius, at 80, and Seychelles, at 46, rank in the top 100 countries.
In other words, while some people are making the most of the new opportunities, the gap between them and those left behind has widened. The construction cranes and skyscrapers in Nairobi, Lagos, and Luanda are juxtaposed with the grim reality of poverty and helplessness in these cities’ hinterlands and beyond.