US playing catch-up in Africa

African consumer spending is projected to rise from US$860 billion in 2008 to US$1.4 trillion in 2020. No other region in the world boasts such numbers. ADDIS Ababa, the rapidly modernising capital of Ethiopia, is on track to host the tallest building in Africa by 2017. That landmark building, which will boast 99 floors of offices and hotel rooms, has a distinctly un-African name: Chuan Hui International Tower. The tower, together with a host of other skyscrapers in the city – including the US$200 million (S$255.7 million) African Union headquarters…

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