Investors point to bright future for Africa

mar bonnin palmer

The recent announcement of large investments in South Africa’s manufacturing industry in the past week has pointed to a maturing relationship with investors throughout the globe.

Significant Korean and Indian companies have agreed deals in areas such as car manufacturing, ship building and electronics within the past week.

These types of deals represent a departure from the most common reason to invest in Africa, extracting resources for export.

They also represent a maturing portfolio of investment opportunities for companies throughout the world that have fixed their gaze on Africa in general.

The increased investments from Korea and India follow a sustained effort by Africa to attract new investors.

Although China still leads the way, accounting for over 38% of the total African trade, other emerging partners such as Brazil, Turkey, the U.A.E, Thailand and Russia have started to contribute more and more.

The US has not been left out either as, alongside the European Union, they are the biggest source of foreign direct investment and official development aid. Interestingly, the US also remains the main recipient of Africa’s manufactured exports.

All of this points to a productive present and an even brighter future for Africa in terms of their relationships with investors.

It is a great opportunity to make strides in the development of several different areas throughout the continent.

Areas such as social and political reform must be addressed if Africa is to take advantage in the long term of this investment boom. The general infrastructure is also in need of significant development.

If Africa uses this positive period to develop in all of these areas, this period will be remembered as a particularly significant one in the continent’s history.

Transferring Money to Africa

Are you looking to invest in Africa? Think carefully about how you will be transferring money to Africa. Most foreign currency exchange rates quoted by banks are usually not as good as the exchange rates available through specialist currency dealers.

So, if you are sending money to Africa, which you will inevitably have to do if you are looking to make a property investment, make sure you compare the market before you buy your overseas currency.

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Investors point to bright future for Africa

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