Huff Post Business 29 April
By Richard Attias
I recently wrote about foreign direct investment in Africa and the prospect of engagement among developing nations and the BRICS.But in order for sustainable development to be achieved across the continent, smart input from Africa’s own entrepreneurs and institutions must also occur. The question of intra-regional African investment is therefore a large one — and an increasingly urgent one.
Last year in the Economist Magazine, Nigeria’s minister of finance, Ngozi Okonjo-Iweala, suggested that in 2013 “‘Africa investing in Africa’ will become an important slogan.” This is our hope. Currently, intra‐African trade stands at around 10 percent, in contrast with 60 percent, 40 percent, and 30 percent intra‐regional trade in Europe, North America and ASEAN.
As populations become more urbanized, sectors like the food and drinks industry will be ripe for investment. The opportunities for local entrepreneurs and innovators are more and more apparent and the need for interaction between African nations is only likely to grow. It is clear that greater engagement between African nations would have substantial benefits for the region.
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