Leading African companies covered in the African Development Bank’s new Africa to Africa investment report, revealed that opportunities for investment in Africa outweigh the obstacles. The report also highlighted the realities African companies face when investing in the continent, the emerging trends in Africa to Africa investments, and the steps African policy makers can take to accelerate intra-African investment.
The report shows that more African companies are investing in Africa, noting that the companies have confidence in the continent’s long term growth potential. The African Development Bank said “they are at the cutting edge of their industries, and are capitalising on their knowledge of local markets to generate higher returns and impact”.
The African Development Bank aims to use its Africa to Africa report as a tool to take the conversation on investing in the continent a step further.
The report shows what African multinationals are doing to drive investments in Africa, how they are expanding their African footprint, and gives insight into how to scale up investments. The President of the African Development Bank, Akinwumi Adesina notes that “as global foreign direct investment to Africa falls, intra-African investments are picking up pace”.
He added that “Africa’s big companies are increasingly on the move and expanding their African footprint. It is through more investments that the continent can build inclusive, sustainable growth and development”.
The Africa to Africa report features eight publicly listed and privately owned African companies operating in consumer services, finance, industry, media and diversified portfolios and investments. The companies are situated in North Africa- Morocco, West Africa- Nigeria and Togo, East and Central Africa- Ethiopia and Kenya, and Southern Africa- Mauritius and South Africa.