People have been forecasting a pending African boom since at least the end of colonialism. The cold war, corrupt regimes, wars, and AIDS have all conspired to prevent the boom times. The rise of the "African lions" to challenge the "Asian tigers" has not yet happened.
As with Iraq however, the situation is not exactly as the media portrays. Carol Pineau attempts to rectify that with an article about the Africa you never see. I have long been of the opinion that portraying things as worse then they are in order to motivate people is self defeating. Doing it to sell papers at the expense of others is unconscionable. People don't want to work for something they feel is hopeless but they love to work for a cause they feel can really make a difference.
This Washington Post article shows that Africa is far from hopeless. Challenges can be overcome. The African economy may just yet wake and roar.