Why you should join the new scramble for Africa

Africa is widely perceived as poor and corrupt - hardly a great investment opportunity. But appearances can be deceptive. We look at why - and where - you should put your money in Africa now.

Africa is widely perceived as poor and corrupt hardly a great investment opportunity. But appearances can be deceptive, says Merryn Somerset Webb

How do you make real money? Most investors answer this in much the same way Warren Buffett does. They say that if you put your money into brilliant companies, brilliant sectors and brilliant countries, then hang on, you'll end up rich. Global Thematic Investors (GTI) disagrees. When something is that good, most people know about it already and your purchasing price is going to reflect that, which will limit your returns even if things go as well as the market expects. And what if things don't go as well as the market expects? Then your investment is going straight to "Money Heaven".

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.