Investor and philanthropist George Soros has described Africa as ‘one of the few bright spots on the global economic horizon’, while consultants McKinsey say that the continent offers higher returns than any other developing region.
There has never been a better time to invest in Africa. Foreign investment in African economies reached $87 billion in 2014. Seven of the world’s 10 fastest growing economies are in sub-Saharan Africa, which boasts a middle class totalling 350 million people, larger than the population of the United States. And in just six years’ time, Africa’s hundreds of millions of consumers of financial services, telecommunications, and tourism and retail goods will contribute more than five time as much revenue to the continent’s economic growth as the natural resources industry.
This information will be extremely obvious to those who attended the recent Global African Investment Summit (TGAIS), which was a huge success, with key implications for the future of investment in the continent.
The sub-Saharan region possesses 60 per cent of the world’s uncultivated arable land, yet currently is only responsible for about 3 per cent of global agricultural exports. There is huge potential to be exploited and this is why African agriculture has become an appealing sector for international investors.
Source: The Worldfolio
Published on: 27th February 2016