Drunk on Africa opportunities

THE ALCHEMIST

My recent observations on commodities and emerging market "beer and cement" plays have prompted welcome contributions on the fabulous array of ‘informal' alcohol available in Africa, among other places.

Not the weak, fizzy stuff languishing in dusty bottles and warm cans, but the head-spinning homebrews most of the continent relies on to shield them from, or enhance, their daily reality. The news that Neil Woodford is investing in Zimbabwe certainly quivered the teacups in Henley. Controlling some £15bn of assets, he probably manages more than Zimbabwe exports in a year. It is enough to make locals reach for a Scud – the thick fermented sludge drank in half-gallon multiples, ensuring your head hangs low while your mind swoops sickeningly through the morning heat haze. It is also called ...