Africa: The Next Major Boom-Bust Cycle?

- PHOTO TAKEN 20DEC03  - A young Maasai carries a coca-cola bottle container before the graduation t..

By Chris Becker

The average African’s time preference will need to change if Africa is going have the capital and investment funds necessary for the transformation into a manufacturing hub. But with a tradition of mismanaged currencies, negative real interest rates, and rising consumer credit there is a strong anti-saving mentality in place.