spending in Africa attracts
Managing Director Shonibare
Consulting FZE; Ashish J. Thakkar Founder of Mara Group;
Dr. Jendayi Frazer Managing Director, AFEX and former US
Assistant Secretary of State for African Affairs; Dr. Cheick
Modibo Diara Chairman ALN and former Malian Prime
Minister and Eithne Treanor Founder & Managing Director,
E Treanor Media
Africa’s strong economic fundamentals and investment
opportunities has attracted Gulf region investors who
now want to tap into increased consumption.
During this year’s ALN Annual International Conference
in Dubai, over 300 investors gathered under the theme
‘Africa: Bridging the Gulf” offering them an insight into
Africa’s high-performing sectors.
In the two-day event, in which a report by McKinsey &
Co tipped Africa to be the second growing economy by
2020, Dr Cheick Modibo Diara, a Malian businessman,
praised the continent’s potential.
“Africa is a lion ready to come out of its den and when
it does, the world will be a better place because of it.
The continent is on a strong growth trajectory and
presents the investment community a myriad of
opportunities to tap into,” he said.
McKinsey’s report titled ‘Lions on the move II: Realizing
the potential of Africa’s economies’ put consumption
by consumers and businesses at $4 trillion (Sh405
trillion) and tips it to grow rapidly.
Kenyan farmers sow resistance to drought,
boosting seed demand
Amaco bets on new strategy to revive dwindling
fortunes in motor cover
The African passport will be a hard sell
According to the report, household consumption is
expected to grow at 3.8 per cent a year to a total of
$2.1 trillion (Sh212 trillion) by 2025.
Additionally, Africa could nearly double its
manufacturing output from the current $500 billion
(Sh50.5 trillion) today to USD 930 billion (Sh94 trillion)
in five years provided that countries improve
environment for manufacturers.
Among notable speakers were Chairman of ALN and
former Malian Prime Minister Dr Cheick Modibo Diara,
founder of the Mara Group,Ashish Thakkar and former
US Assistant Secretary of State for African Affairs Dr.
“We have been able to showcase great opportunities to
invest in Africa and provide potential investors the
support they need to get started—We hope long-lasting
business relationships will be made, with deals initiated
or struck,” Artique Anjarwalla, a Managing Partner at
Anjarwalla Collins & Haidermota said.
The annual conference is sponsored by among others
International Enterprise Singapore, Centum, Mauritius
Commercial Bank, and Access Bank UK.