Our second edition of Africa Attractiveness builds on the theme of the African growth story, while emphasising the need to bridge a perception gap that continues to exist among many potential investors not yet doing business on the continent. In so doing we highlight the various factors that are contributing to sustainable economic growth on the continent, specifically regional integration and reducing the infrastructure deficit.
- The number of Foreign Direct Investment (FDI) projects in Africa grew 27% from 2010 to 2011, and have grown at a compound rate of close to 20% since 2007.
- Despite this growth, there remain lingering negative perceptions of the continent — but only among those who are not yet doing business in Africa.
- The story of Africa’s progress, not just in economic but also in socio-political terms, needs to be told more confidently and consistently.
- This broad-based progress is underscored by a substantial shift in mindset and activities among Africans themselves, with increasing self-confidence and continued strong growth in intra-African FDI (which has expanded by 42% since 2007).
- Regional integration is critical to accelerated and sustainable growth. Creating larger markets with greater critical mass will not only enhance the African investment proposition, it is also the only way for Africa to compete effectively in the global economy.
- Bridging the infrastructure gap will be a key enabler of regional integration, growth and development. It also remains a key challenge and opportunity for investors.