The Second Scramble For Africa Is In Foreign Investments
The second scramble for Africa is in investment on the continent with China, US, the EU and Japan leading the foray into the fastest growing region in the world. Africa’s economy is expected to grow at an average of over 6 percent between 2013 and 2023, according to statistics from the World Bank, after a 5.6 percent a year growth rate earlier recorded made it the fastest growing continent in the world.
Global investors are beginning to see the vast opportunities on the continent and FDI in several African countries as well as private investments has been on the rise. eNCnews reported that the region received its largest ever share of global FDI in 2013 with investments flows coming in at about $80bn and is projected to reach $150bn by 2015 by the global consultants.