November 9th, 2011
07:52 AM GMT
(CNN) – Is Africa ripe for investing?
While China and India have the fastest rate of growth, Africa has the "best future prospects" says Mark Mobius, who has been a major player in the emerging markets economies since the 1987 launch of Templeton Asset Management.
Today Mobius manages a $50 billion emerging markets fund and was listed by Asia Money Magazine as one of the Top 100 Most Powerful and Influential People.
Despite problems with infrastructure, Africa presents tantalizing prospects for investors, especially as global investors are worry about risks in the developed economies in the wake of the EU debt crisis and tepid growth in the U.S.
"It's the same story all over again just as we saw in subprime (crash of 2008)," Mobius tells CNN. "The first place that people look for cash is in these emerging markets."
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