AFRICA - Economics and Finance: Is Africa the continent of the future?

Wednesday, 11 June 2014

Rome (Agenzia Fides) - Nigeria is the largest promising market for investments of European and American multinationals. This was stated in a study conducted by the Wall Street Journal on the Frontier Markets Sentiment Index. Out of 20 Countries ranked, as many as 11 are African.
Nigeria, with an index of 29.57%, is in first place, followed by Kenya (fifth place with 23,17%), Angola (sixth with 21.9%), Ghana (ninth with 18.73%), Ethiopia (eleventh with 17,27%), Morocco (twelfth with 16,79%), Tanzania (thirteenth with 16,79%), Algeria (fourteenth with 16,06%), Ivory Coast (sixteenth with 14, 58%), Zambia (seventeenth with 13.63%) and Uganda (nineteenth with 13.14%).
The report is prepared on the basis of forecasts of future investments concerning 200 multinational corporations. The index of each Country corresponds to the percentage of firms that choose it as a destination for their investments. For example, if 50 of the 200 corporations surveyed expect to invest in a given Country, its index is 25%.
The economic dynamism of the continent is demonstrated by the initiatives taken by several States to invest in Africa and participate in its development. The United States launched the "Power Africa Initiative" to provide electricity to more than 240 million Africans living in Ethiopia, Ghana, Kenya, Nigeria, Liberia and Tanzania. Singapore has announced that in August the third Africa-Singapore Forum will be held, aimed at increasing trade and cooperation between African companies and those in the Asian Country. (L.M.) (Agenzia Fides 11/06/2014)