BelkacemM an HSE Officer with working experience in Algeria
Deepening Kenya's Banking Industry through Crossing of Boundaries

Africa in terms of “real” and long-term development has painted an enticing picture which the world is being drawn to.  The continent of Africa is extremely diverse, made up of abundant cultural variations.

The GDP of the largest 10 countries make up more than 70% of the continent’s total, and 34 of the world’s poorest countries are African.

Foreign debt as a percentage of GDP and debt service obligations as a percentage of export revenues have both declined dramatically to levels comparable to those of other regions of the world, and sovereign credit ratings in some countries have a much more positive outlook. More countries are now seen as frontier emerging economies with relatively developed financial markets such as Botswana; Cape Verde; Ghana; Kenya; Nigeria; South Africa; Uganda; and Zambia.

Furthermore, foreign debt investment has amplified exponentially from USD9 billion (2000) to USD62 billion (2011). The total African inflow of foreign capital increased from USD15 billion in 2000 to peak at USD87 billion in 2007. The rate of return on foreign investment in Africa is also higher than in any developing nation globally.

Why you ask? This is due to improving the business regulatory environment. It has been disclosed that the average return on capital was approximately two-thirds higher than that of comparable companies in China, India, Indonesia and Vietnam.

Interest in Africa’s rich mineral resources also accounts for much inward investment on the continent, but higher investment in infrastructure and better education have laid the foundation for other sectors as well.

Analysis indicates that all sectors contributed to the growth surge in Africa, including: resources; finance; retail; agriculture; transportation; and telecommunications. Natural resources contributed only 24% of GDP growth on the continent between 2000 and 2011. It is embraced by the world that the African continent has a plethora of opportunities at its disposal. Minerals underpin the economic strength of many countries on the continent. Africa holds 95% of the world’s platinum group metals reserves, 90% of chromite ore reserves, 85% of phosphate rock reserves and more than half the world’s cobalt reserves.

Check point

BelkacemM an HSE Officer with working experience in Algeria
Deepening Kenya's Banking Industry through Crossing of Boundaries