TIME agrees Africa is the place to invest
Many of myregular readers will know my passion for South Africa and indeed the African continent. I am of the firm belief that Africa has the potential to grow into a really meaningful player in terms of the Global stage. One of my pet comments though has been the fact that the world seems to see Africa as a place for donations as opposed to investment.
I have on a number of occasions expressed my reservations around this and urged the leaders on the continent to get their countries to become attractive investment opportunities.
I was therefore thrilled to read the latest TIME magazine (March 23) which has a feature called “10 Ideas that are changing the world” and more particularly the 6th idea entitled “Africa, Business Destination”. Alex Perry points out that while the rest of the world will experience negative growth the African continent will buck the trend and grow by 3.3% this year. What really excited me was the point that in 2006 investment dollars outstripped aid/donation dollars, for the first time ever. Investment dollars amounted to $48 billion while aid amount to $40 billion.
This is a trend that we need to see continue and we really need to see the gap between the two widen in favour of the investment inflows.
The plus about the African continent is that this is much room for infrastructual development by the various countries, these investments will always lead to growth. We need to encourage the governments to continue to make their countries a haven for investors. If the numbers are correct, as far as growth forecasts go, then surely this is the only place to be?
I really hope that we will see continued investment and growth of this great continent!