The World Bank says that Foreign Direct Investment (FDI) in the African continent is currently at its all-time highest record. The bank says that by the middle of 2015, FDI directed towards African investment reached a record high of $60 billion.
World Bank further says that many multinational companies are still looking for opportunities in Africa for doing business. The corporations that are skeptical about doing business in Africa are doing so because of the continent’s ‘well-publicized challenges‘.
Louise Robinson, the MD of Database 360 says some of the problems facing Africa include the political instability, rampant corruption and loose regulations that are either too difficult to adhere to or are changing quite often.
“Doing business in Africa has its challenges, yes, but it offers far bigger opportunities than drawbacks. On average, the continent’s economies will grow 4.5% in 2015 and 5% in 2016, according to the 2015 African Economic Outlook report by the Organization for Economic Co-operation and Development, the African Development Bank, and the United Nations Development Program,” said Robinson as cited by IT News Africa.
“The report predicts that private investment …read more