Joe Studwell

So in Tanzania, you have Bakreza as the biggest agribusiness enterprise.

And they operate across 10 countries now.

And they're doing all their agribusiness and they're basically millers.

But on top of that, they've also now got hydrofoil businesses going out to Zanzibar.

They've got real estate.

They've got a TV station.

They've got a football club.

And, you know, we're the kind of oligarch at the top.

It all feels to me quite Southeast Asian.

And I think that much of Africa will go in that kind of direction.

It's way less efficient developmentally than what you get in a Vietnam or a China or a Japan, but it's not bad.

Still progress?

It's still progress, yeah.

how good it is depends on how well the money is used.

And in previous cycles, most of the money hasn't been well used, which is why I'm so happy to see this demographically driven growth in agriculture producing more stable development.

I mean, if you look at African growth since 2014, the end of the China boom,

Africa didn't collapse into acute negative growth as it did after previous cycles.

And my feeling is that a lot of that is down to the fact that now you've just got this more diverse economy.

So I think with the minerals, I mean, I hope that governments are learning some of the lessons from previous commodity cycles.

I don't say for a moment that Africa shouldn't think about its commodities if you can sell it