By Our Reporter
Over the past few years, Africa has been top of mind for foreign business investment, often referred to as one of the last frontiers for economic growth and development. However, given the recent economic downturn and headwinds that the continent is experiencing, is the region still offering opportunity to investors?
The World Bank’s January 2016 Global Economic Prospects reported that Sub-Sahara Africa’s real Gross Domestic Product (GDP) grew at its lowest rate since 2009 in 2015 with a growth of a 3.4%. This was down from the 4.6% and 4.9% growth that was reported in 2014 and 2013 respectively.
Hennie Heymans, Managing Director of DHL Express Sub-Sahara Africa says the company firmly believes that the African continent is still one of the last frontiers for growth and that the region will continue to grow as it has over the past decade due to the vast number of unexploited opportunities available for local and foreign investors.
“The drop in GDP growth for the region over the past year shouldn’t deter investors. Africa will continue to thrive albeit at a slightly slower pace as previously experienced. Similar to the global environment which reported growth of 2.4% in 2015, it was a tough year economically for Africa. Compounded by a drop in the demand for the continent’s commodities resulting in falling prices, declining currencies, political instability and El Nino causing widespread drought, have all contributed to the region’s challenges. However, despite this, the region remains abound with untapped prospects and offers growth opportunities in 2016 for those willing to seek them out,
