[ ‘Africa Rising’…….AGAIN?]
Is Africa the new China?
Is there a new scramble for Africa?
Can African countries do it alone?
Why should Africa be confident?
I have even heard ‘Africa Rising’ again.
Africa’s reputation globally as an investment destination needs some work.
Risk is seen as high and business difficult to do, and the reality is that investment cash has global options.
So why Africa?
A key part of the answer to this is seen as changing the negative narrative through evidence, confidence, and pride. ….to project a positive image of the whole continent and what it has to offer the world.
This comes from government, business, media and cultural leaders and institutions bringing pride in the message.
……..in simple facts, African projects succeed more often……..returns on investment for those who understand the risk and play a long game can be high, some of the countries with the highest GDP growth are African, and significant institutional reforms are embedding in a variety of countries keen to secure investment.
Underpinning this narrative is a sense of pride in culture; which can be seen in the opening of the Zeitz Museum of Contemporary Art in South Africa (MOCAA)and Museum of African Contemporary Art (MACAAL) in Morocco, and events such as the 1-54 Contemporary African Art Fair taking place on the continent for the first time; all significant steps towards a continuing commitment to bringing African art and culture into the global mainstream.
Implemented correctly this should prove an increasingly compelling message for African and global investors alike, which in turn should deliver hope and stability to the fast-increasing population.