Commonwealth Business Communications
  • HOME
  • ABOUT
  • COUNTRIES
    • AFRICA
      • BOTSWANA
      • CAMEROON
      • GAMBIA
      • GHANA
      • KENYA
      • KINGDOM OF eSWATINI
      • LESOTHO
      • MALAWI
      • MAURITIUS
      • MOZAMBIQUE
      • NAMIBIA
      • NIGERIA
      • RWANDA
      • SEYCHELLES
      • SIERRA LEONE
      • SOUTH AFRICA
      • TANZANIA
      • UGANDA
      • ZAMBIA
    • ASIA
      • BANGLADESH
      • BRUNEI DARUSSALAM
      • INDIA
      • MALAYSIA
      • MALDIVES
      • PAKISTAN
      • SINGAPORE
      • SRI LANKA
    • CARIBBEAN AND AMERICAS
      • ANTIGUA AND BARBUDA
      • BAHAMAS
      • BARBADOS
      • BELIZE
      • CANADA
      • DOMINICA
      • GRENADA
      • GUYANA
      • JAMAICA
      • SAINT LUCIA
      • ST KITTS AND NEVIS
      • ST VINCENT AND THE GRENADINES
      • TRINIDAD AND TOBAGO
    • EUROPE
      • CYPRUS
      • MALTA
      • UNITED KINGDOM
    • PACIFIC
      • AUSTRALIA
      • FIJI
      • KIRIBATI
      • NAURU
      • NEW ZEALAND
      • PAPUA NEW GUINEA
      • SAMOA
      • SOLOMON ISLANDS
      • TONGA
      • TUVALU
      • VANUATU
  • AREAS OF WORK
    • GOVERNMENT
    • EDUCATION
    • HEALTH
    • ICT
    • INFRASTRUCTURE DEVELOPMENT
    • NATURAL RESOURCES
    • SUSTAINABLE DEVELOPMENT GOALS
    • TRADE AND INVESTMENT
  • OUR PUBLICATIONS
    • CHOGM
      • COMMONWEALTH HEADS OF GOVERNMENT INTERIM REPORT 2020
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2018 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2015 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2011 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2009 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2007 REPORT
    • HEALTH
      • COMMONWEALTH HEALTH REPORT 2022
      • COMMONWEALTH HEALTH REPORT 2020
    • EDUCATION
      • COMMONWEALTH EDUCATION REPORT 2021
      • COMMONWEALTH EDUCATION REPORT 2019
    • MINISTERS
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2017
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2015
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2014
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2011
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2010
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2009
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2008
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2007
    • FINANCE
      • COMMONWEALTH FINANCE MINISTERS REPORT 2012
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2010
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2009
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2008
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2007
    • TRADE AND INVESTMENT
      • AFRICA INFRASTRUCTURE INVESTMENT REPORT 2013
    • QUEEN AND COMMONWEALTH
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S PLATINUM JUBILEE
      • QUEEN & COMMONWEALTH: 90 GLORIOUS YEARS
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S DIAMOND JUBILEE
  • CONTRIBUTORS
  • CONTACT US
Commonwealth Business Communications
Commonwealth Business Communications
  • HOME
  • ABOUT
  • COUNTRIES
    • AFRICA
      • BOTSWANA
      • CAMEROON
      • GAMBIA
      • GHANA
      • KENYA
      • KINGDOM OF eSWATINI
      • LESOTHO
      • MALAWI
      • MAURITIUS
      • MOZAMBIQUE
      • NAMIBIA
      • NIGERIA
      • RWANDA
      • SEYCHELLES
      • SIERRA LEONE
      • SOUTH AFRICA
      • TANZANIA
      • UGANDA
      • ZAMBIA
    • ASIA
      • BANGLADESH
      • BRUNEI DARUSSALAM
      • INDIA
      • MALAYSIA
      • MALDIVES
      • PAKISTAN
      • SINGAPORE
      • SRI LANKA
    • CARIBBEAN AND AMERICAS
      • ANTIGUA AND BARBUDA
      • BAHAMAS
      • BARBADOS
      • BELIZE
      • CANADA
      • DOMINICA
      • GRENADA
      • GUYANA
      • JAMAICA
      • SAINT LUCIA
      • ST KITTS AND NEVIS
      • ST VINCENT AND THE GRENADINES
      • TRINIDAD AND TOBAGO
    • EUROPE
      • CYPRUS
      • MALTA
      • UNITED KINGDOM
    • PACIFIC
      • AUSTRALIA
      • FIJI
      • KIRIBATI
      • NAURU
      • NEW ZEALAND
      • PAPUA NEW GUINEA
      • SAMOA
      • SOLOMON ISLANDS
      • TONGA
      • TUVALU
      • VANUATU
  • AREAS OF WORK
    • GOVERNMENT
    • EDUCATION
    • HEALTH
    • ICT
    • INFRASTRUCTURE DEVELOPMENT
    • NATURAL RESOURCES
    • SUSTAINABLE DEVELOPMENT GOALS
    • TRADE AND INVESTMENT
  • OUR PUBLICATIONS
    • CHOGM
      • COMMONWEALTH HEADS OF GOVERNMENT INTERIM REPORT 2020
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2018 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2015 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2011 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2009 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2007 REPORT
    • HEALTH
      • COMMONWEALTH HEALTH REPORT 2022
      • COMMONWEALTH HEALTH REPORT 2020
    • EDUCATION
      • COMMONWEALTH EDUCATION REPORT 2021
      • COMMONWEALTH EDUCATION REPORT 2019
    • MINISTERS
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2017
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2015
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2014
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2011
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2010
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2009
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2008
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2007
    • FINANCE
      • COMMONWEALTH FINANCE MINISTERS REPORT 2012
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2010
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2009
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2008
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2007
    • TRADE AND INVESTMENT
      • AFRICA INFRASTRUCTURE INVESTMENT REPORT 2013
    • QUEEN AND COMMONWEALTH
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S PLATINUM JUBILEE
      • QUEEN & COMMONWEALTH: 90 GLORIOUS YEARS
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S DIAMOND JUBILEE
  • CONTRIBUTORS
  • CONTACT US

AFRICA IS THE WORLD’S NEXT BUSINESS FRONTIER

  • CBC News Team
Total
0
Shares
0
0
0

African Development Bank President, Akinwumi A. Adesina, has claimed that Africa remained fertile ground for investment, but much hinged on the continent’s ability to boost its healthcare sector.

Adesina spoke during the Africa Investment Conference, a virtual one-day event organised by the UK Department for International Trade, which brought together UK and African business and government leaders to discuss investment and partnership opportunities. Four sectors were under the spotlight: sustainable infrastructure, renewable energy, financial and professional services, and agriculture and agri-tech.

As part of the conference, Emma Wade-Smith, Her Majesty’s UK Trade Commissioner for Africa, joined Adesina in a fireside chat on the theme “Building back better – utilising UK private sector strengths and values, and business-to-business opportunities working with UK government and others going forward.”

Africa still possessed the same fundamentals that had driven the continent’s phenomenal growth over the past decade, Adesina said. Participants heard that the continent offered ample opportunities in terms of natural resources, vast tracts of arable land, and a young and rapidly urbanising population. The potential presented by the newly launched African Continental Free Trade Area was also highlighted.

“The fundamentals in those phenomenal growth rates in Africa are still there…Africa still leads in terms of ease of doing business…It’s very exciting, the digital explosion that you see in Africa today,” Adesina said, listing among others the tide of mergers and acquisitions among African firms.

Africa’s economy shrank by 2.1% in 2020 and is expected to grow by 3.4% in 2021 as the global economy recovers from the impact of the COVID-19 pandemic.

During their exchange, Wade-Smith tapped Adesina’s views on the impact of vaccines on Africa’s economic outlook. Adesina said for him the issue was long-term.

Related articles: HERE’S HOW TOMORROW’S AFRICAN LEADERS WILL IMPROVE THE WORLD

Wade-Smith said she was heartened to learn that 10 of the fastest-growing economies were still in Africa, adding that there was not enough awareness of how much innovation was happening in the region. She said there was an opportunity to blend African and UK innovation. “I’ve been struck by how many opportunities there are,” Wade-Smith said.

Africa has a mere 365 pharmaceutical companies, compared to 7,000 in China and 11,000 in India, as individual countries with comparable population sizes.

British investors were urged to pay attention to Africa. “That’s where the next frontier is,” Adesina said.

Other participants included UK Prime Minister Boris Johnson, Minister for Africa James Duddridge, Minister for Investment Gerry Grimstone, as well as business leaders from Standard Bank, pharmaceuticals firm AstraZeneca and mobile operator Vodacom.

Johnson earlier told the conference that although “many things have changed” since last year, “there is one thing I can tell you that has not changed: that is my ambition for the UK to be Africa’s investment partner.”

The conference follows last year’s successful UK-Africa Investment Summit, hosted in London by the Prime Minister, where 27 trade and investment deals worth £6.5 billion and commitments valued at £8.9 billion were announced. At the time, Africa was home to eight of the world’s 15 fastest-growing economies amid a groundswell of optimism about its economic upswing.

Learn More: African Development Bank

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
Related Topics
  • AFRICAN TRADE
CBC News Team

Previous Article

ZIMBABWE’S FOREIGN AFFAIRS MINISTER DIES FROM COVID-19

  • CBC News Team
Read More
Next Article

TWO THIRDS OF AN ACADEMIC YEAR LOST ON AVERAGE WORLDWIDE

  • CBC News Team
Read More
You May Also Like
Celebrating Namibia Independence Day
Read More
  • AFRICA
  • NAMIBIA

Celebrating Namibia Independence Day

  • CBC News Team
  • 21 March 2023
Celebrating Mauritius Independence Day
Read More
  • MAURITIUS

Celebrating Mauritius Independence Day

  • CBC News Team
  • 12 March 2023
Flag of Ghana
Read More
  • AFRICA
  • GHANA

Celebrating Ghana Independence Day

  • CBC News Team
  • 6 March 2023
Zambia gets £1.6 million injection to address water shortages
Read More
  • Environment & Sustainability
  • AFRICA
  • ZAMBIA

Zambia gets £1.6 million injection to address water shortages

  • CBC News Team
  • 3 March 2023
Ghana kicks off Education Outcome Project for out-of-school children
Read More
  • Education & Youth
  • AFRICA
  • GHANA

Ghana kicks off education scheme for out-of-school children

  • CBC News Team
  • 2 March 2023
Tinubu wins Nigeria's presidential election
Read More
  • AFRICA
  • NIGERIA

Tinubu wins Nigeria’s presidential election

  • CBC News Team
  • 1 March 2023
Highly-contested Nigeria election sees ruling Tinubu the lead
Read More
  • AFRICA
  • NIGERIA

Highly-contested Nigeria election sees ruling Tinubu in the lead

  • CBC News Team
  • 28 February 2023
Nigeria elections plagued by delay, vote count still ongoing
Read More
  • Heads of Government
  • AFRICA
  • NIGERIA

Nigeria elections plagued by delay, vote count still ongoing

  • CBC News Team
  • 27 February 2023
OUR LATEST PUBLICATION

Subscribe to our Newsletter

PARTNER FOCUS
Recent Posts
  • Bangladesh Independence Day is celebrated annually on 26 March to commemorate the country’s independence from Pakistan in 1971.
    Celebrating Bangladesh Independence Day
  • Celebrating Namibia Independence Day
    Celebrating Namibia Independence Day
  • Commonwealth Day 2023
    Commonwealth Day 2023
  • Celebrating Mauritius Independence Day
    Celebrating Mauritius Independence Day

Subscribe

Subscribe now to our newsletter

Commonwealth Business Communications
  • HOME
  • About
  • Contact
  • Terms of Use
  • Privacy Policy
  • Cookie Policy
© 2022 Commonwealth Business Communications Limited. All Rights Reserved.

Input your search keywords and press Enter.