Traditional African garments are generally tailored locally according to the verbal style description of the client who buys the textile and pays for the tailor’s work. Taking a piece from history,
Distruptive technology
Technological progress is not the only force that drives transformative growth in economies; for example, US growth during the 1970s was driven by the entry of millions of women and baby boomers into the labor force. However, technological advances have been an especially valuable source of growth because they tend to be “non-rival” in nature, meaning they can be used over and over, benefiting different users and driving increasing returns. And unlike other sources of growth, such as increases in the labor force, the effects of technology do not go away.
Example: Lagos Metro Blue Line
Location: Lagos. Completion date: Launch has been pushed back to 2015. A major cosmopolitan transport project to connect Nigeria’s largest city, the Lagos Metro Blue Line is designed to ease congestion and speed up journey times for the city’s inhabitants. Total cost: $1.2 billion.
Over the past few decades, the world stock markets have surged, and emerging markets haveaccounted for a large amount of this boom. In Africa, new stock markets have beenestablished in Ghana, Malawi, Swaziland, Uganda, and Zambia. Prior to 1989 there were justfive stock markets in sub-Saharan Africa and three in North Africa.
Britain, France, Italy and Germany had their colonies in Africa and the impact of colonization is still apparent in the former colonies after 50 years of independence. A developing country during the colonial era has now risen to the rank of third largest economy in the word surpassing Germany. Equipped with enormous finance and highly trained manpower, the new economic super power, China, is now systematically tightening her grip on Africa.
