by Chris Paizis, Head of sales, Africa (ex- SA) and Head of Corporate Sales SA, Corporate and Investment Banking division, Absa, a member of Barclays
Africa has emerged as a key new market for companies seeking global expansion, with the potential to become a very prosperous location for international business. As an increasingly popular destination for global corporates, today’s treasurers need to number amongst their skills the ability to manage the risks associated with setting up an operation in Africa. Yet contending with the challenges and risks associated with setting up operations in Africa requires careful planning and strategic partnerships.
Africa continues to experience unprecedented levels of economic growth, making it an attractive region for overseas investors. Its economic resurgence in recent years has been a direct result of a number of factors, including macroeconomic stabilisation and policy reform, growing financial and political stability, strong foreign direct investment flows, surging commodity prices and market development.
With its burgeoning and largely youthful population, rising income levels, wealth of natural resources and ongoing political, economic and market reforms the future has never looked brighter for the continent. Added to this ever-improving investment climate, Africa’s remarkable resilience in the recent global downturn has seen the continent recover much quicker than other regions. As such, Africa is now well poised for sustained growth.