“Winds of change are blowing through the continent,” declared Smuts Ngonyama, chief strategic advisor to South African President Thabo Mbeki during a Wharton-sponsored forum on investing in Africa. While Ngonyama’s upbeat sentiments were echoed by other speakers, these experts also noted persistent obstacles that still hamper significant levels of investment and development, including corruption and the lack of an adequate criminal justice system. But here as well, one speaker noted, the last few years have brought new efforts at reform and a greater sense that progress is indeed possible.
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