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Investing in Africa: A Call for Action

Sustainable Growth in Africa

Investing in Africa: A Call for Action

September 22, 2022

SAP Data Space

The challenges facing African countries have been discussed for over a decade now. However, they have not yet been addressed in concrete terms. At this Follow-Up to our conference The Africa Roundtable in May 2022 on “Recovery, Preparedness, and Resilience in Times of Crises”, the focus of the debate was on promoting sustainable development and growth in Africa. Private capital is needed to enable African markets to catch up with the global economic players and to ensure steady development in all countries. Targeted private sector initiatives are needed to create the right structures to accelerate development through economic growth in Africa. Together, we identified the three key ingredients needed for a sustainable upswing: strong partnerships, catalyzing funding, and innovation and digitalization.

Main Areas of Action

  • Infrastructure

    Open and direct means of transportation that are accessible to all improve the logistical infrastructure. The financial infrastructure should be promoted by a standardized payment system and a stronger local banking sector for the development of the fintech industry. Regional connectivity can be created through the African Continental Free Trade Area (AfCFTA), which in turn attracts more foreign investors.

  • Environment

    There is a need for a stronger local presence of investors and entrepreneurs as well as the promotion of co-investments. More practicable investment vehicles and support systems must be created to provide local support. The development of bankable projects therefore needs more attention and support. The increased offer of de-risking measures also promotes confidence-building among investors.

  • Trust

    So far, there has been an asymmetry of perception between market participants and foreign countries. This narrative needs to be corrected in order to reduce the perceived risk. This requires greater involvement of African representatives and more personal encounters. Greater information transparency reduces the complexity of the market and makes opportunities more visible for both sides.

Contact Persons

Rhoda Berger, r.berger@globalperspectives.org

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