Six of the ten fastest-growing countries in the world in 2000-10 were African; Angola grew faster than anywhere else on the planet. …Some of this new prosperity is the result of better economic policies, but more is the consequence of a boom in commodity prices that has spurred investment in mining and drilling as well as in office towers, bridges and roads.
Even if it is mostly the result of luck, who would begrudge Africa this renaissance? …
Sadly, many countries are squandering their best chance in decades. Equatorial Guinea’s elite hoards a fortune in opaque accounts. Chad channels wealth to bent officials. In Sudan they inflate the cost of infrastructure projects and siphon off funds. And state firms in Nigeria are “privatised” by handing them over to crony managers
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