The potential for highly profitable foreign investment in Africa is enormous, but many investors remain unaware of the past record and current opportunities, argues the UN Conference on Trade and Development (UNCTAD).
“Africa’s profitability is one of the best kept secrets in today’s world economy,” The Former UN Secretary-General Kofi Annan declared at the annual summit meeting of the Organization of African Unity. Specifically citing the UNCTAD report, he noted that Africa also has experienced impressive economic growth rates in recent years. The profitability of foreign companies in Africa has been consistently higher than in most other regions of the world.
Africa is favorably positioned to become the 2nd fastest growing region in the world, and according to the International Monetary Fund (IMF), robust growth in sub-Saharan Africa is set to accelerate in 2014, reflecting improved prospects in most oil exporters, and in several low-income countries and fragile states. The IMF’s latest Regional Economic Outlook for Sub-Saharan Africa projects GDP growth to accelerate to 5½ percent in 2014 from about 5 percent in 2013. The faster growth is expected to be underpinned by large investments in infrastructure and mining, maturing investments in transport and telecommunications, and a rebound in agricultural output.
Rani Jarkas, the Chairman of Cedrus Investments.
Rani Jarkas is a highly experienced financial services executive, with over 20 years of international banking experience. Currently, Mr. Jarkas is the Chairman of Cedrus Investments, a global boutique investment firm. Cedrus’ domain expertise is in life sciences, natural resources, energy, cleantech and nanotechnology. – Rani Jarkas