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Thursday, December 06, 2007

IBM sees opportunity in Africa's economic growth - Dec. 6, 2007

IBM's next big thing: Africa

While all eyes are on India and China, the technology giant sees business opportunity in the expanding economy of the world's poorest continent, says Marc Gunther.

By Marc Gunther, senior writer

IBM sees opportunity in Africa's economic growth - Dec. 6, 2007: "NEW YORK (Fortune) -- Stereotypical images of Africa, as a global backwater plagued by poverty, disease, conflict and corruption, hide some encouraging realities. Democracy has taken root across the continent.

The African economy is expanding briskly. So, too, are opportunities for businesses. That's why IBM (Charts, Fortune 500) announced this week that it's expanding its stake in sub-Saharan Africa.

The $91-billion-a-year technology giant will open a research and innovation center in Johannesburg for its biggest business customers. It will donate what it says is by far the most powerful supercomputer in Africa to a nonprofit computing center in Cape Town.

Working with the poverty-fighting organization CARE, IBM will roll out a technology platform to reduce the costs of microfinance."
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