FOREWORD 19


HE Erastus Mwencha Deputy chairperson of the African Union Commission M


y fellow Africans and friends of Africa, this maiden edition of Invest in Africa comes at a most opportune moment. The past few years have seen tremendous global economic turmoil on a scale not seen for almost a century. Yet this has not spread to all corners of the globe. The consensus among experts is that Africa – traditionally, and even


today, viewed as a morass of instability and dysfunction – did not suffer economically to nearly the same extent as many other countries and, indeed, enjoyed a positive growth rate in 2009 and 2010. The demand for African goods, expected to remain strong in the short to medium term, has surged in recent years – from rising external partners, such as China, India and other countries that require our natural resources, and the fast-growing middle classes across our member states, whose rapidly increasing consumption is fuelling a wave of investment in manufactured products and services. These accomplishments are the outcome of many years’ hard work by our


commissioners. Because of their tenacity and expertise, the African Union has been able to implement numerous initiatives and programs aimed at improving the welfare of African citizens. The vision and foresight of the founders of the African Union have led us to where we are today, and our Chairperson, His Excellency Dr Jean Ping, is driving our organization and the continent forward with courage and commitment. Although this investment guide is focused on the economic opportunities that


abound in Africa, it must be noted that long-term, stable economic growth cannot exist without political stability and security of life and property. To this end, the African Union has been and remains heavily involved in efforts to engender and maintain peace and security throughout the continent, largely through diplomacy. Despite the challenges that must still be surmounted, investing in African


people, infrastructure and services will continue to deliver the traditionally high rates of return that will not only bolster the portfolios of international investors in these times of economic hardship, but also serve as entirely new economic frontiers. We have welcomed investments from non-traditional partners – such as China, India, Turkey, Brazil, Venezuela and other countries of Latin America – and look forward to the opportunity to welcome others. In addition, we continue to seek new ways to partner with our longstanding economic partners in North America and the European Union. The horizon for Africa is extremely bright and the rewards bountiful for those who take the worthwhile opportunity of investing in our continent. n


INVEST IN AFRICA 2011


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