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The Economist's Africa editor compares East Africa's development with the rest of the continent
2018-09-20
In this episode I speak with Jonathan Rosenthal, the Africa Editor of The Economist.
Our paths crossed when I was back in London for a few weeks, and so we took the opportunity to meet, and speak about some of the continent wide trends which he’s seeing, from the vantage point of running the Africa desk for the magazine.
Most episodes you’ll have listened to on the show will delve into a particular aspect of running a company in East Africa. Teasing out the specifics of why a certain business decision has been made or not, or trends that are present within a particular industry niche.
This episode is slightly different.
Jonathan and I take a much broader look at Africa’s development through the lens of, say, government debt ratios and currency reserves.
Whilst this might seem a bit lofty, I’d encourage you to stick with it.
In listening to the other episodes you will (I hope) get an understanding of the micro level of business in the region.
To get a fuller picture requires, I believe, to understand the larger macro factors at play in the story of development.
One such example of this is the government policy of raising debt from local banks. Because the interest rates they offer are so high, it distorts the incentives for banks to lend to local businesses. As such, this macro level effect of “crowding out” the private sector trickles down to the suppression
of local businesses looking for capital to grow.
There are also references to the macro trends that can come from the innovation of rooftop solar systems. If you’d like to learn more on this, be sure to check out the Distributed Economy episode with Conrad Whitaker from Azuri Technologies.
The interview took place at The Economist HQ in London which, helpfully, has a recording studio of its own. If you’re interested in hearing more from The Economist, be sure to check out their regular podcasts which feature updates, insights and in-depth interviews that expand on their stories.
READ MORE AT:
https://theeastafricabusinesspodcast.com/2018/09/20/the-economist-how-east-africas-development-compares-with-the-rest-of-the-continent-with-jonathan-rosenthal-africa-editor-of-the-economist/
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