Growth for the African continent is viewed as extremely positive for 2017/2018, with growth rates ahead of those for individual country economies. Vuma Reputation Management Africa business director, Nonye Mpho Omotola, our
#AfricaAchiever this month, cites the "favourable" outlook with expected economic growth of just under 4.9% GDP (East Africa sits at 5.3% growth), with their decision to expand onto the continent.
In fact, Africa is still a popular investment destination for multinationals, says
Stefano Niavas, managing director of BCG South Africa. Africa's aspirant middle class and a private consumption increase of 5% per annum to $1.25 trillion in Africa's eight largest markets, is an attractive proposition.
And while there remain very real complexities in navigating Africa's diverse markets, BCG has tracked how the most successful companies in Africa plot their investment to show growth.
Peter Vieria of Nashua Africa Expansion Division goes further, saying "business opportunity in Africa is booming": "As the international market continues to plateau, venturing into Africa is a formidable prospect for local businesses looking expand in 2017."
Finally, it seems to be Africa's 'time'.
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Have a great week!
Louise Marsland
Africa Editor: Bizcommunity.comComment online in our ed's column archive. Go mobile with apps and m.bizcommunity.com. Engage with us on Twitter, Facebook, LinkedIn and Google+. Subscribe to YouTube and via RSS. Send all your African marketing and media news and event invitations to africanews@bizcommunity.com, exclusive opinion pieces to contributors-africa@bizcommunity.com and international news to internationalnews@bizcommunity.com. Read "How to contribute to Biz, from op-ed pieces to news".
