Maybe some real growth will occur in unusual places. Like Africa. And maybe the growth will be in a technology that was not our fist technology in the developed world. Cell phones. Cell phones exist in places where land lines are no good in Africa. And they are even a form of banking. Hence my bet on MTNOY. I am nervous about buying OTC stock but this one seems like a possible winner, deserving of a modest investment.

I'm starting to pay attention to South Africa. I think the entire cotinent is a huge long term growth oportunity with significant challenges. And those challenges amount to a moat for those who know how to do business and make money there. Much of Africa seems to be skipping landlines and going with cheaper mobile phone, South Africa is the stable base from which they grow (92% of the population has cell phones, a higher penetration rate that the US) and Nigeria is their growth market, only 42% cell phone penetration with a population of about half the size of the US.