By: Peter Bernstein, TMCnet Senior Editor
It may be almost cliché to say we live in a global economy, but many times when globalization is discussed the focus is on developed and emerging markets and not that often, if at all, on under-developed regions. In fact, in the past few years until the recent drop in oil prices, much of the financial community’s and economic development interests has been focused on the BRICS countries (Brazil, Russia, India, China and South Africa). This leaves out not just most of South America, but the promising rest of Africa which contains a wealth of rare minerals and other natural resources waiting to be literally and figuratively mined.
However, for most of the African continent countries to move from under-developed status, along with toward political stability and having a educated citizenry, infrastructure needs to be in place which it currently is not. This means not just giving the populace access to clean water and energy, but in a digital world ubiquitous and affordable access to businesses and individuals to high-speed broadband communications is now not just a foundation but a pre-condition that is essential for moving ahead.
In this regard it is enlightening, refreshing and significant that Alcatel-Lucent CEO Michel Combes recently wrote a corporate blog stressing the company’s interest in working with governments and commercial interests to help accelerate economic development across the continent. This about not just about the Oscar winning movie of several years ago “Out of Africa”, but is also about around, into and across Africa.
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