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Barring certain exceptions, armed conflict and terrorism, policy uncertainty, macroeconomic instability and inadequate and corrupt […]
Africa’s exports to India have grown sharply over the last decade, with mineral fuels consistently making […]
The vastness of Africa’s potential has been evident for centuries. Blessed with ample resources, rapidly […]
In 2009, China surpassed the United States as Africa’s largest trading partner; with an investment […]
Investment rules Investment in Nigeria is regulated by the Nigeria Investment Promotion Commission Act 1995. […]
Over 550 Chinese businesses are operating in Zambia, bringing more than US$3 billion into the economy, reported new Chinese Ambassador to Zambia Yang Youming earlier this month. He was speaking at a reception commemorating the 65th anniversary of the People’s Republic of China, established in 1949 by Mao Zedong.
Dow AgroSciences, the American manufacturer of products devoted to crop protection, is deepening its investment into Africa in order to claim a bigger stake in the continent’s vast agricultural potential. It is doing this by entering new countries, and also by removing the middle man in countries where it already had operations, believing now that the best way to do business in Africa is to have a local presence.
There is an increasing interest in Africa as a potential investment destination due to the fact that the developed markets are not expected to grow as they have done previously. In addition, Africa is seen to be becoming more politically mature and easier to access and this, together with its growing population and rise in consumption, is adding to its attractiveness for foreign investors
Booming West African cities such as Lagos, Abuja and Accra have received a great deal of attention and FDI over the past decade in response to their population growth, economic growth, dynamism and promise. While we expect to see these cities continue as primary investment destinations, domestic and foreign investors alike are always looking for the next big thing – those up-and-coming cities that will rise to prominence ten years from now.
Citi, the multinational bank headquartered in Manhattan, has pledged $2.5 billion in incremental capital to fund the Power Africa initiative, which aims to bring electricity to millions in Sub-Saharan Africa.
Foreign investors are keenly pursuing opportunities in the small East African nation of Uganda in the fields of mining and agro-processing.
Nigeria’s foreign investment story is a riveting one, with figures escalating at an unprecedented rate as the country’s GDP and reputation as an emerging market mecca continue to grow.
FDI into Sub-Saharan Africa is expanding – in fact it is presently at its highest level in a decade – but it is notable that this injection of capital is increasingly being directed towards consumer-related markets, among others, and less towards the mining sector.
The appearance of regional banking institutions in new countries forces the host country to up their game when it comes to the banking infrastructure they are offering consumers.
As part of its expansion plan, Ecobank Zambia is set to open eight new branches across the country next year. It is hoped that the new branches (two in each quarter of the country) will draw in rural communities who have had no previous banking opportunities.
Adoption of the International Financial Reporting Standards (IFRS) by Nigerian companies will attract more foreign investment into the country, Director, Audit Services, KPMG Professional Services, Mr. Willem Haarhoff, has said.
During the 23rd World Economic Forum on Africa, held earlier this year, regional and global leaders from business, government and civil society engaged in discussion around unlocking and delivering on Africa’s promise and potential. We believe that the continent will continue to show prominence as a key destination for foreign direct investment (FDI) in coming years, with Yunus Suleman, Chairman of KPMG Africa, reiterating: “Africa will continue to be one of the largest FDI destinations and will retain its position of having at least six of the fastest growing countries in the world!”
With promising economic prospects and major opportunities in the telecommunications, agricultural, tourism, finance and manufacturing sectors, Malawi is an investment destination of note. The government encourages both domestic and foreign investment in most sectors of the economy without restrictions on ownership, size of investment, source of funds, or the destination of the final product.
South Africa, Nigeria and Ghana have over the years been the largest recipients of Foreign Direct Investments (FDI) within the African continent as they jointly accounted for about 50% of the FDI inflow into Africa in 2011.