I saw this article on amusement parks in Africa linked to by a blog a few weeks ago.
It’s a short but interesting article that provides an important snapshot of one of the most interesting and dynamic parts of the world today. Africa’s middle class is robust and flourishing, and the rise of the amusement park, especially in West African countries, is one confirming sign of this undeniable phenomenon. Six Flags, the popular U.S. roller coaster park operator, announced in 2009 it would open one of only 3 non-U.S. locations in Nigeria, inspired by the sheer demographic opportunity. That project has delayed, unfortunately, but others have sprung up in Nigeria as well as Senegal and Guinea-Bissau.
For anyone who has worked on large projects in Africa or other emerging markets, it’s no surprise to see a big project delayed. Nonetheless, many projects do get done, and the deciding factor between success and failure is often an experienced emerging market advisor or developer. A view of the non-specialized big picture is important for successful project execution, since most projects will require managers with integrated understandings of technical, commercial and financial elements due to the often complicated commercial and financial structuring requirements of the most active investors and lenders.
With the growing middle class in Africa and the huge need for critical (and not-so-critical) infrastructure, the opportunity for the right project – backed by the right skills – is enormous.
