Africa is the market frontier for many investors. Competition in Africa is still bearable to many investors unlike China and India as the market has matured. Unlike Europe or South America, investing in Africa varies quite a bit by region. Northern Africa is very similar to much of the Middle East in terms of its oil assets and major industries, while Southern Africa is considered a more abundant of natural resources and market with a strong mining industry. Northern Africa consists of Algeria, Egypt, Libya, Mauritania, Morocco, Tunisia, and Western Sahara. Many of these countries are known for their extensive crude oil reserves. For instance, Libya holds Africa’s largest oil reserves and the eighth largest reserves in the world. Over ten percent of all crude oil imported into Europe comes from Libya. Multinational companies have stakes in many of these oil reserves, although politics frequently interferes with operations.
Natural Resources: Africa has an enormous amount of natural resources, ranging from oil and diamonds to gold and uranium. And many of these natural resources remain untapped due to a low human density along with a lack of infrastructure and financing. Large Population: Africa’s population represents approximately 14.72% of the world’s total population with about a billion inhabitants in more than 60 territories. This creates a huge opportunity for consumer goods, such as telecommunications and banking. Relatively Undeveloped: Africa remains relatively undeveloped with per capita income that lags the rest of the world. This means that there may be an enormous opportunity for growth in the future as its population grows and becomes more wealthy.
Africa’s greatest resource is its young people, with their energy, creativity, and resilience. The 21st century could produce an African renaissance if governments and their development partners prioritize investing in people, especially the youth. Ensuring that Africa’s youthful population is healthy, educated and well-equipped for the future is the best way to eradicate poverty in Africa and contribute to the world’s stability and prosperity.
Now, Africa needs friendly policies which attract FDI and also come with initiatives which boost its people to be in front of reviving the economy. Some governments in Africa are known for their corruption or lack of policy. Corruption can lead to a number of problems, ranging from extortion to nationalizations, while the lack of policy can make it complicated to do business. There some countries still in civil wars/ conflict but rich in natural resources and this will hinder development. We need to be sober as Africans, thrive to make our continent beautiful and attractive. So let’s go back to drawing board and restart our policies which are going to point to development and Ubuntu.
Africa has the potential to be on top of all economic hubs in the world if wisdom is fully implemented in harnessing her resources. This starts with policies which are going to appetise all who are going to plant their money and also the citizens.
Enos Denhere is a freelance Journalist and Entrepreneur. He is looking forward to work with investments companies with the appetite to invest in Zimbabwe and Africa. If you are in need of freelance journalist, Enos is ready to offer you his services. Email [email protected] App /Call +263773894975
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Publish date : 2019-03-12 13:08:24