Joshua Nott

Visit Rwanda. It’s been five years since the controversial sponsorship of one of the world’s richest football clubs by one of the world’s poorest countries, and it now seems the Rwandan government’s tourism ministry may just have proved its detractors wrong. It boasts that the Rwandan tourism sector grew 8% within a year of the $40m sponsorship of Arsenal Football Club. Perhaps on a par with the economic dividend is that the sponsorship put the tiny East African nation on the map. ..

Regarding matters of good governance Africa’s leaders have much to account for. In many respects foreign investors are right to be wary when making investments in markets that lack the assurances of the rule of law, sound fiscal and monetary policy, and most of all political stability. It is also true that many African states attract irrationally high interest rates. Take Kenya.