This week, more good news can be seen across the African continent. From growth in the banking sector to opportunities in tourism and hospitality, Africa is showing promise across numerous industries. The selected headlines below should provide a good idea of the environment.
1. Big Opportunities for Tourism Investors - As the many economies across Africa continue to grow, the demand for hotel accommodation is increasing as well. Investors are seeing increases in both leisure and business travel, and as the demand grows, the opportunities for both hoteliers and support businesses will continue to rise. If your organization is in the tourism and hospitality business, or in one of the supporting industries, Africa warrants a look as a place to grow.
2. Zimbabwe's Economy to Grow by 4.2% This Year - While softening commodity prices required Zimbabwe to slightly reduce its growth forecasts, the country is still expecting positive economic growth. This is nearly double what the U.S. projects for growth in 2014. Of additional interest is that the Government of Zimbabwe estimates approximately 13 million people now run their own business. Will this growth lead to opportunities for consumer packaged and/or durable goods in the near future?
3. Investment Opportunities in Renewable Energy Throughout Southern Africa - Large scale wind and solar projects valued between 8 to 10 million South African Rand ($700k to $1M USD) are looking for investments. Renewable Energy is growing across the continent and investment opportunities like these show the pace and growth of the sector.
4. Africa Banking Sector Continues Growth Spurt - As the African Banks are working to implement best practices from around the world, both the local and foreign banks are continuing to grow their footprints across the continent. This level of growth within the banking sector shows promise for access to capital and funding projects in both the near and long-term future.
5. Tullow Finds More Oil in Kenya - Tullow doubled its estimates of the crude oil to more than 600 million barrels. As a result of this find, Kenya could become the first East African oil exporter by 2016. This type of find promises further economic growth and the creation of new opportunities for other sectors in Kenya.
6. Africa Sees Increase in Demand for Mobile Apps - As the consumer demand continues to grow for mobile phone applications, businesses are looking at ways to create their own corporate apps. Many of these apps are currently being produced locally and integrate well with the solid mobile hardware that is being manufactured locally as well. Here we are showing that growth in Africa is not limited to the tourism and banking sectors. Demand is growing for high quality mobile apps and locally produced hardware. These are big market segments showing tremendous potential across Africa.
These stories are only a small representation of the progress being made across the continent daily. We hope they help to illuminate the good going on across the continent. If your organization wants to blaze a new trail, consider Africa. Need a hand setting your strategy? Contact Us to see how we can help your organization evaluate these opportunities and create your entrance strategy.
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