BOSTON — Is there money to be made in Africa? You bet.
Just ask Walmart, which is offering more than $4 billion to buy a South African retail chain as its foothold into the fast-growing African market.
And Coca-Cola has announced it will spend $12 billion over the next 10 years to improve its production and sales network across the continent. KFC and Subway are already selling their meals to Africans. Top European and Chinese banks are competing for business in Africa, too.
This new scramble for business in Africa has made Wall Street take notice: Africa can be profitable.
The interesting thing about this is that it is a very good thing for Africa. It will help the economy and will help Africa better than donations. Now Africans can enjoy some Subway and WalMart like we do in North America, all while helping their economy.