1. Investment in Tropical Africa:.
- Author
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Marcus, Edaward
- Subjects
INVESTMENTS ,FINANCE ,PER capita ,SOCIOECONOMICS - Abstract
The article focuses on investment in tropical Africa while emphasizing economic, social and political aspects of opportunities for development and obstacles to change. Although by Western standards tropical Africa is poverty-stricken, per capita incomes averaging $50-150 per year, it has progressed rapidly, especially since World War II, and it gives every promise of continued and even accelerated growth rates. No one who has visited these lands, even if only for a short visit, can fail to detect the atmosphere of hope and progress, of peoples on the move emerging into the twentieth century, although still wrapped in the cocoon of a tribal world. The years since the end of the second World War have seen a marked quickening in the tempo of political evolution in the area. The first great change, however, did not come until 1957 when Ghana (then the Gold Coast) became a self-governing Dominion within the British Commonwealth. Africa needs the capital, the skills, and the know-how that only Western firms can offer. It realizes that the goals of rapid development, which usually includes industrialization, cannot be achieved in any other way. In return, the foreigner should show his sympathy, especially by employing and upgrading his African staff as quickly as is feasible.
- Published
- 1961
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