Africa can reach a new level of development
President of the Republic of South Africa, Jacob Zuma, said the active economic growth of the region continues. Moreover, he said that good performance will soon bring the country to the next level of development. Based on these projections, South Africa is a very promising country for potential investors according to the President, the Business Day writes.
Zuma spoke at the Bloomberg conference on economic prospects and opportunities in Africa. Politician addressed the audience with a speech that the African continent is well placed for business and is ready to cooperate with foreign investors.
He said that since 2007 South African investment in other African countries increased by 57%. In 2012 the country became the largest investor in Africa. about 45 thousand jobs are created with its investments. Government has decided to engage in deposits within the continent to raise Africa's investment attractiveness for foreign businessmen. "Foreign partners are not interested in our markets, if Africans in my example do not show that they make a profit" - concluded Zuma.
Currently, the African Union, which brings together 54 states, is working on increasing investment in the continent. The South African government believes that the development of trade relations between African countries needs to invest in infrastructure and industry.
Nigeria, Kenya, and Angola support the idea of internal African investment. The governments see this as a new African paradigm. In addition, 26 other African countries with a combined population of 600 million people and a combined GDP of $ 1 trillion approve the development of South Africa and consider the possibility of cooperation. FTA and domestic investment can dramatically change the trajectory of economic development of the continent. The agreement will help create a single market with $ 2.6 trillion GDP and a population of over 1 billion people.
Africa can develop only if the investor's perspective will provide decent income. Today the continent's economy is competitive in areas such as mining, agricultural products processing, manufacturing, building, infrastructure development and green economy.
