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Investors are looking to Africa full of confidence
According to a survey of more than 300 market leading companies and their directors, South Africa gained two ranks (ranking 13) being one of the most desired countries in terms of foreign direct investments.
Despite recent obstacles in South Africa’s mining sector, investor confidence in South Africa is rising. One of the main reasons is the rapid growth of the consumer goods industry as well as the 12% increase in FDI in 2013. In terms of the FDI-share, the historically overpowering mining and metal industries have been pushed aside by consumer orientated sectors. Direct foreign investment in sub-Sahara Africa reached its’ highest point in the last 10 years rising by 4.7% in 2013 – with a strong upwards trend leading to a positive investment climate.
Projects in North Africa had to digest a 30% decrease in 2013, leading to a widening investment gap between Northern and Southern Africa is, with 80% of FDI flowing into sub-Sahara Africa.
Structured regional integration and further developments in Africa’s infrastructure will attract many investors offering lucrative projects.
With over 50% of the entire FDI projects in 2013, technology, media and telecommunications (150 projects) as well as retail and consumer goods (131 projects) and financial services (112 Projekten) counted for the most popular investment sectors. FDI projects in the construction and real estate industry combined with the hotel and gastronomy industry showed a 63% increase.
The highest growth potential in the coming years according to Ernst & Young is assumed to be in Africa’s agricultural sector.
Renewable energy and the transport industry are Southern Africa’s other hot topics. South Africa’s ‘renewable energy independent power provider programme’ plays a leading role in attracting foreign investment. Transactions are often registered as small and medium investments, interesting for european SMEs and leading to a versatile and competitve business region.
Article supplied by InterGest South Africa