Emerging Africa

Book excerpt: A rare and timely intervention from Kingsley Chiedu Moghalu, Deputy Governor of the Central Bank of Nigeria, on development in Africa. To many, Africa is the new frontier. As the West lies battered by financial crisis, Africa is seen as offering limitless opportunities for wealth creation in the march of globalization. But what is Africa to today's Africans? Are its economies truly on the rise? And what is its likely future? In this pioneering book, leading international strategist Kingsley Moghalu challenges conventional wisdoms about Africa's quest for growth. Drawing on philosophy, economics and strategy, he ranges from capitalism to technological innovation, finance to foreign investment, and from human capital to world trade to offer a new vision of transformation. Ultimately he demonstrates how Africa's progress in the twenty-first century will require nothing short of the reinvention of the African mindset. 'Africans seriously analyzing Africa's opportunities are all too rare. Kingsley Moghalu writes with insight and authority' Paul Collier 'Savvy . . . distinguished' Mark Malloch-Brown 'Unique in the depth of its insight, the ambition of its scope, and the clarity of its argument. Kingsley Moghalu brings a remarkable intellect and his vast experience to this tour de force on Africa's economic transformation. This is a truly weighty contribution to understanding Africa's developmental dilemma and its quest for a more prosperous future' Ngozi Okonjo-Iweala 'Insightful and analytical . . . sheds instructive light on Africa's position in the world. It is a testament to the palpable optimism that encompasses Africa while frankly addressing the myriad challenges that lie ahead for its economic transformation' Shashi Tharoor Kingsley Chiedu Moghalu is Deputy Governor of the Central Bank of Nigeria. He was the Founder and CEO of Sogato Strategies S.A., a global strategy and risk management consulting firm in Geneva, Switzerland. He has previously worked for the United Nations for 17 years in strategic planning, legal, development finance and executive management. His previous books include Global Justice and Rwanda's Genocide.