How we made it in Africa asks Teodoro de Jesus Xavier Poulson – a member of the investment committee of Angola’s public venture capital fund, Fundo Activo de Capital de Risco Angolano (FACRA) – about his outlook for 2016.

Is the current investment environment in Africa good for venture capital?

I believe so. Despite current global economic headwinds, Africa remains one of the most popular parts of the world for investments by private equity firms and venture capitalists. In many respects, the dramatic and sustained drop in oil and commodity prices has served to illustrate the urgency for diversification away from reliance on natural resources. In particular, countries such as Angola have a pressing need to attract foreign direct investment (FDI), and it has introduced a number of initiatives and incentives to attract FDI.

The Angolan Government is making significant investments in schools, universities, hospitals and healthcare clinics right across the country. The hospitality market is also attracting sizeable investments from both public and private sectors, and the government is providing tax exemptions and incentives for companies setting up hotels and other hospitality facilities.

Countries such as Angola, Ghana, Kenya, Mozambique and Nigeria are still experiencing economic growth and there is significant structural change that will support economic diversification, particularly in the development of business-critical infrastructure and highly targeted support for alternative industries such as agriculture and technology.

Where do you see the opportunities in Africa in the next two to three years?

I am convinced Africa still is, and will be, one of the main destinations for great investment opportunities. Therefore, I believe countries in this region will continue to have strong growth in the next three years. There are many African countries investing heavily in key growth industries such as healthcare and education, technology, social welfare and infrastructure. These sectors offer opportunities for investors, either in the form of direct investment or public-private partnerships. Renewables is also a focus for technological innovation, which many African countries are actively pursuing.

Read more at How we made it in Africa