Greater need for investment in Africa as interest in the continent grows. (Image Source: comesacompetition.org).
The desire to invest in Africa continues to grow amongst leading investors – in 2015 two well-known private equity fund’s each raised over $1billion to invest in the continent. After regularly being overlooked, figures such as Sindiso Ngwenya, the Secretary General of COMESA, are shining a spotlight on the continent, and investment opportunities are increasing.
At the Africa 2016 Forum, Sindiso touched upon how investments should start from within the continent in order to attract investors from overseas. Reinforcing this, he added that trade and investments within the COMESA region have increased from $837 million in 2007 to $12 billion in 2016.
Despite economic rates growing across the continent, African nations still account for only a small percentage of global trade. To increase trading throughout the continent, nations are pushing their home-grown investors to spearhead growth by taking actions such as investing in a strong infrastructure and stimulating job growth. With the right foundations in place, Africa will show the world that it is no longer an economic burden but is the next bastion of prosperity.
Sindiso Ngwenya, Secretary General of COMESA, comments: “The Africa 2016 forum was just the beginning: The Global African Investment Summit COMESA & Government of Rwanda (TGAIS-COMESA Rwanda) will be the rallying cry for investors to come together and trigger deals that will potentially herald a new era for Africa, one that stimulates social and economic development, and uplifts the living standards of Africa’s populace. This will transform and modernise the African economy and ultimately strengthen our union.”
Heba Salama, Director of COMESA Regional Investment Agency and TGAIS – COMESA Rwanda organising committee member, comments: “Africa’s time is now, and the Global African Investment Summit will emphasise that. With the number of high-level panel discussions and deals that will take place during the event, there’s no doubt that the spotlight will stay firmly fixed on Africa.”
Sindiso Ngwenya will be giving the opening speech at The Global African Investment Summit COMESA & Government of Rwanda, which will be taking place in Kigali, Rwanda on the 5th and 6th of September 2016. The summit will tackle a number of key topics including whether it is possible to form a common market in Africa, and provide an insight into the on-going developments in intraregional trade.
Staff Writer