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African Lion Economies Gear up to Emulate Asia

Continent's middle class is growing rapidly, but politics and corruption continue to threaten business growth.

By Mike Cohen, Rene Vollgraaff, and Yinka Ibukun, Bloomberg | Updated on August 04, 2014

ThankGod Agbagu views the paved roads and skyscrapers that have sprung up in Lagos, Africa’s largest city, as the signs of a brighter future.

“That’s development, progress,” the 30-year-old tailor said in a July 30 phone interview from Nigeria’s commercial capital. “I definitely see many opportunities out there. Things may not really get better in my lifetime, but maybe it will for those that come after us.”

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