Bob Diamond: Africa is best place to invest right now

Bob Diamond, CEO of Atlas Mara and former CEO of Barclays

Investors looking to place their money outside of the U.S. should look no further than sub-Saharan Africa, Atlas Merchant Capital CEO Bob Diamond said Thursday.

“There are a lot of reasons to be positive in the medium-to-long term for sub-Saharan Africa,” the former Barclays CEO said in a CNBC “Power Lunch” interview.

Some of the reasons Diamond cited include growth in consumer discretionary income, a growing number in democratic regimes and the fact that Nigeria had a peaceful transition of power during its March elections. “There is strong underlying economic growth that is much more than just the natural resources sector.”

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