Why invest in West Africa – Africa
- Africa is hungry for new products, technologies, and knowledge and preferred market for Slovenian and European economy.
- The biggest economic potential of Africa. The concentration of population in large cities along the Atlantic coast.
- Logistically easily accessible.
- Americanand European markets are saturated with supply and there are few demands.
- Africa continents are consumer nations and they are not technologically advance like America and Europe.
- Massive invasion of African marketand economy by Multinationals companies from America, Western Europe and Asians.
- Fast economic growthand sponsoring of development projects by world bodies like World Bank, IMF, USAID, and IFC are concentrated in developing Africa.
Africa’s equity markets are hot, with investors attracted by the Sub-Saharan region’s GDP growth rate of more than 5% over the past three years. The main markets have risen by more than 50% in the past 5-10 years.
Granted; it’s easier for underdeveloped economies to deliver eye-popping growth numbers since they are starting from a much smaller economic base than the developed world, still, economists think that:
- Many African countries can expect even more impressive growth than the average for the continent.
- Some African nations have the potential to double their economies over the next decade. (over 7% per annum).
- Ethical Investmentsin Agriculture are particularly important because agriculture ‘s potential is huge.
- Other Sectors of the African Economysuch as Real Estate, Industry, Technology, etc., have equally great Potentials.
Economic Community Of West African States – ECOWAS www.ecowas.int
Member countries making up ECOWAS are: Benin, Burkina Faso, Cape Verde, Cote d’ Ivoire, The Gambia, Ghana, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Sierra Leone, Senegal, and Togo.
Investing and doing business in the ECOWAS region is further enhanced by the Economic Partnership Agreement between EU and West Africa, which covers goods and development cooperation, that opens up new business opportunities and increases legal certainty for European Investors.