In its issue of May 13, 2000, The Economist magazine carried a banner headline calling Africa “The Hopeless Continent” because, it proceeded to argue, of its peoples’ predisposition to bloody civil wars, corruption, civil disorder and tyrannical rulers. It wondered if all these were traceable to an African “inherent character flaw”. In its issue of March 2nd 2013, the same magazine labeled Africa “The hopeful Continent” and proceeded, alongside Time Magazine and The Wall Street Journal to feature the theme of “Africa Rising” as East Asia had done decades earlier. Reforms in national governance, good macro-economic management and new technocratic leadership were the reasons advanced to explain the swift transition from the extreme of hopelessness to the one of a rising Africa.
From World Bank