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Article: Africa fears contagion from credit crisis woes.(Business Report Weekend)
- Article from:
- The Sunday Independent (South Africa)
- Article date:
- October 19, 2008
CopyrightCOPYRIGHT 2008 Independent News & Media PLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BYLINE: Pascal Fletcher
The only crisis he knows of is surviving day by day in his native Senegal, where the 45-year-old labourer barely earns enough to feed his wife and three kids, and rent a room.
"It's tough ... Sometimes I don't have work for two or three months," he says, speaking in Wolof, the local language.
Welcome to Main Street Africa - sprawling cities of dusty pavements, armies of poor and unemployed, chaotic traffic and bustling markets - a world away from Europe or the US in levels of individual wealth and expectations.
While African governments and educated elites are following the global banking crisis closely, the ...