Britain Leads in African Investments

by Developed Africa 10. July 2013 09:00

A perhaps surprising article in the South China Morning Post today (via @WhyDev) shows that Britain remains the main investor in Africa over the last ten years.

This is contrary to what you might expect considering the amount of articles reflecting the BRIC expansion into Africa.

Investors have become increasingly attracted to Africa, as it has begun to demonstrate strong economic growth, an emerging middle class, greater political stability and improved government balance sheets.

Britain was the top investor, with 437 deals worth US$30.5 billion since 2003, followed by France (141 deals worth US$30.47 billion) and China (49 deals worth US$20.8 billion), figures compiled by the international law firm Freshfields Bruckhaus Deringer show.

The African Development Bank said that economic growth on the continent would hit 4.8 per cent this year and 5.3 per cent next year, led by West African commodity exporters such as Nigeria, Ghana and Ivory Coast.

China overtook the United States as Africa's largest trading partner in 2009, a report by the US Government Accountability Office in February showed."

[Read the whole article here]

In related news the Ernst & Young annual Attractiveness Survey of Africa was recently released. The report pushes the links between investment and long-term growth, an increasingly common view of the next step for development in Africa. This Survey is incredibly useful for anyone looking to do business in Africa - either as investors or as African businesses seeking investors.

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Categories: Britain | China | Investment

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