Meet the MINT’s

A Nigerian man at a Porsche dealership in Lagos. Nigeria is aiming to become Africa's economic hub. Photograph: Reuters

A Nigerian man at a Porsche dealership in Lagos. Nigeria is aiming to become Africa’s economic hub. Photograph: Reuters

So there’s a new acronym in town, MINT. Jim O’Neill an economist who fashioned the BRICS in 2001 has now labelled Mexico, Indonesia, Nigeria and Turkey (MINT’s) the next economic giants.

so what makes the MINT’s special ?. Jim O’Neill explains that their dense populations, and good inner demographics will see a rise in people eligible to work relative to those not working. He adds that the MINT’s could see China level growth rates inside the next 20 years.

This article caught my eye, after spending the best part of three years studying the BRICS (Brazil, Russia, India, China and South Africa) at university,  its nice to observe a new club where another African country is a part off emerge. By no means will the new club of countries experience dramatic economic change any time soon but the acronym will surely encourage conversation among economists and increase confidence among foreign investors.

It is no secrete that the MINT countries have major issues with corruption and infrastructure but it is time the world chose an optimistic view over their futures. Instead of looking at economic growth as a result of resolving these issue’s, why not explore the idea that economic growth and investment will itself resolve the issues.

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