General Electric (GE) announced in July that the company will invest US$14.7 million in the health-care technology sector in Kenya. Retail giant Wal-Mart has also invested in Africa with the acquisition of Massmart in 2011.
These are just two of the almost 200 multinational companies that have invested or that are looking to claim a stake in Africa. Others include Chevron, IBM, Ford, Caterpillar and Procter & Gamble.
South African companies are also showing an increased interest in the rest of Africa. Here at Intergate, we experience it first-hand. There are definitely more queries regarding employment in Africa coming through to our African division.
The question for companies who want to stay competitive now changes from “Should we invest in Africa?” to “Can we afford not to invest in Africa?”.
Significant economic growth across the continent
Africa is considered the world’s fastest growing continent. The middle class is rising, infrastructure upgrades are happening and mobile phone usage is increasing at an exponential rate. The latter has improved African people’s inclusion in financial markets and have opened up opportunities for entrepreneurs.
Three countries that have emerged as Africa’s tech hubs are South Africa, Kenya and the Seychelles. Experts estimate that Ghana, Mauritius and Rwanda are next in line and worthy of investors’ attention.
Agriculture and natural resources play huge roles in Africa’s economy too, creating ample opportunities in these industries. The most significant of Africa’s natural resources is arguably energy – petroleum, natural gas and coal, to be specific. In fact, 6 of the world’s top energy producers are in Africa.
More proof of Africa’s growth can be found in the fact that five of the 54 countries belonging to the African Union currently holds emerging market status. These countries are South Africa, Egypt, Mauritius, Morocco and Nigeria.
Partner with the right people
Africa definitely has its challenges, but clearly the continent is showing a great deal of growth and promise. Should you investigate the rest of Africa as an investment opportunity, you can speak to our consultants to find out more about employment, specifically visas and sponsored employment, throughout Africa.
The right advice can make all the difference. African visa applications and immigration are known to complicated. Getting it wrong could stall any African expansion plans for months on end. Considering that your competitors could very well be investing in Africa too, you want to get everything right the first time. With us as your partner, you can.