The chairman of the largest software house in Ghana spoke approvingly of the “Wild West” aspects of doing business there. One of that country’s cabinet ministers saw signs that “constitutional democracies are gaining roots” on the African continent. A prominent Nigerian lawyer spoke of profit margins all but impossible in the United States or Europe. These three panelists appeared recently at the 2005 Wharton Global Business Forum Africa Conference, entitled “Unveiling the Value; Demystifying the Risk.” Speakers described the continent as bursting with opportunities, challenges and pitfalls for local and foreign companies, but the emphasis was decidedly on the word “opportunity.” For example, the Nigerian lawyer, Gbenga Oyebode, described a power system so erratic that it could not form the backbone of a functioning cellphone network. Consequently, telecommunications companies there have provided small generators for each of 2,000 transmission sites.…