The region with the most eggs in the commodity basket is Africa, where rich resources of land, metals and energy are said to offer the best opportunity for economic transformation in the continent’s history.
Amid signs of surging confidence in the world’s second fastest growing region, Moody’s Investors Service recently launched its first sovereign ratings for Nigeria, Kenya and Zambia, a move it said was a likely precursor to a booming capital market in those countries. Underlying Moody’s decision was a commodity price boom that has attracted investors from around the world and provided a huge opportunity for the region’s banks.
