ASP Adjunct Fellow Matthew McNabb quoted on Africa’s Economic Future
American Security Project Adjunct Fellow Matthew McNabb was recently quoted by International Business Times on the importance of investing in entrepreneurship for Africa’s economic future. The article discussed keys for future economic growth and development throughout Africa including the benefits of foreign and domestic investment. McNabb offers his view of business involvement as a possible idea to stimulate growth across Africa.
Caerus’ Matthew McNabb, also adjunct fellow at the American Security Project, sees the African continent as a land of great opportunity for foreign investors as well as the people who live and work there.
“It’s no longer about taking all of the valuable things out of a country and selling them elsewhere. It’s now more about, ‘Hey, there are people in Africa who want to buy things.’ This is the rise of the African market,” he told IBTimes. “Tapping into these emerging markets and helping African businesses do so is a win-win for the foreign investor and for the development of the continent.”
“[One] inherent limitation that I’m suggesting about the business approach is that rising consumer markets really relate more to people that have the available funds to buy things. It leaves out the bottom of the pyramid, if you will,” McNabb explained. “In Africa, I think there is a role to play for both business and development.”
The entire International Business Times article, entitled “Africa’s Economic Future Depends on Local Ownership, Entrepreneurship, and Big Ideas” can be found here.
