Starting with Greece and likely to spread, markets are starting to question whether governments can maintain the size and standard of their public sector, Jennings told the audience of about 100 Renaissance clients who had gathered at the Mandarin Hotel in tony Knightsbridge to hear the investment case for Africa.

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The MyData Initiatives seek to spread the ability for people to securely access to their own data while spurring the growth of private-sector applications and services that a person can use to crunch his or her own data for a growing array of useful purposes.

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"The sector is made up of 19 or 20 industries, so a decline of 6, 000 jobs spread out that much isn't a big preoccupation, " says Huether.

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