How viable are investments in
Africa? What kind of future can potential investors on the continent expect?
Which countries and sectors of the economy are most attractive to investors?
The participants in the session Investing in Africa, which will be held on 23
October as part of the RussiaAfrica Economic Forum in Sochi, will try to find
answers to these and other questions.
Africas GDP is expected to
reach USD 29 trillion by 2050 and will exceed the combined GDP of the U. S.
and Eurozone for 2012. Africa does not only consist of raw materials and
agricultural resources, but also has rapid population growth as well as huge
untapped opportunities for industrialization, electrification, and the
development of logistics. These are all growth points, but they also have risk
components, especially at the initial stage. In addition, the education
industry is booming in Africa, while the share of the middle class and the
availability of financial and telecommunication services is relatively high.
Many countries have already been down this path, but whose experience will be
the most applicable and effective, and for whom?
The discussion
will include the following panellists: President of the Republic of Seychelles
Danny Faure, Minister of Foreign Affairs and International Trade of the
Republic of Kenya Monica Juma, Minister Delegate to the Minister of Foreign
Affairs of the Kingdom of Morocco Mohcine Jazouli, Minister of Investment
Promotion, Public and Private Partnership Responsible for Improving the
Business Climate of the Gabonese Republic Jean-Fidele Otandault, Qalaa Holdings
Founder and Chairman of the Executive Board Ahmed Heikal, CalBank Limited CEO
and Managing Director Frank Adu Jr., Naspers Group CEO Bob van Dijk, and Rwanda
Mines Petroleum and Gas Board CEO Francis Gatare. The session will be moderated
by Renaissance Capital Global Chief Economist Charles Robertson.
Interest in investing in
regions with rapidly growing economies is especially acute given the slowing
production growth around the world. «North Africa is geographically and
historically close to Europe and is now ready for industrial development. East
Africa is close to the developed countries of Asia and is also steadily trying
to catch up with them. We are all well aware of South Africas strong
positions, and West African countries feature a higher average literacy rate.
Economic growth as a result of the industrialization of East Asia has been
explosive and swept over the region for many decades in fact, it has yet to
end. And a lot of people regret that they did not get in on the ground floor.
Egypt is vying for the title holder in terms of industrialization for the
coming decade. You need to seize the moment and see who will be next,»
Robertson said.
The RussiaAfrica Summit and Economic Forum will
take place on 2324 October in Sochi at the Sirius Park of Science
and Art. The events are being organized by the
Roscongress Foundation, and the co-organizers of the RussiaAfrica Economic
Forum are Russian Export Center and Afreximbank.