With the extreme nature of the world's economic meltdown Africa is even more open for business than ever before. With the unacceptable painful financial cancer spreading the international financial network, Africa is unlikely to be affected at the same rate as the advanced global economies. This is mostly that the financial infrastructure systems in Africa is not complex and sophisticated as that of other advanced economies......thank God for that!
The advanced and sophistication found in these economies has less regulation which encourages unchecked greed that affects these economies. For example, how can one individual defraud USA and world economy by $50 billion within the relaxed regulatory framework to guide against such action. We need to establish a strong regualtory frame in African countries throug the assistance of the World Bank, to ensure that individuals such as those found in USA or other advanced economies are not allowed to bring down the economy of any African countries. We need to learn from these mistakes.
Trade and investment opportunities in Africa under this current economic meltdown is one of the issues that can be discussed in the International Conference on Industry Growth, Investment and Competitiveness in Africa(IGICA) to be held in Abuja, Nigeria, on 8-10th June 2009. Visit the website on www.kfint.com/igica to register your interest to participate.