The ugliest words we’ve read this week: “If you’re a big multinational that’s typically not wanting to invest, then it’s easy to look at the top three in Africa and say, ‘there’s no point’,” RenCap chief economist Charles Robertson tells the Financial Times in a look at European appetite for investment in Africa’s dairy sector. Adds Pierre-André Térisse, Danone’s top exec for Africa: “I don’t think it’s the right timing for people to make big bets and meaningful investments in Africa,” he says. “I think yes our bet is the right one. I think other people will follow but I don’t think it’s going to be immediately.” Read “European groups bet on Africa’s appetite for dairy” in the Financial Times (paywall).