Mr. Aliko Dangote sees lot of potential for trade in Africa. He said, as an example, “ In his company itself there are around 2300 Indian employees.
Afrcian countries give so much importance for trade, diplomatic and bilateral relations with other developing countries. The downward trend of oil prices is affecting countries that rely on petroleum for their economy. These countries will surely face the brunt as the price of petroleum is in the downward plunge. Countries that survive on the income from Petroleum will suffer.
Africa’s main resource is soil, not Oil. Africa has the capacity to feed all the people of the globe..
Trade with China, India, Russia and Brazil is on the rise especially after the inking for the BRICS trade agreement. Chinese President Xi Jinping offered a whopping 60 billing loan and aid package to Africa. Xi Jinping has said that China plans to develop infrastructure, improve agriculture and reduce poverty in the whole continent.
Many investors are in the foray in investing in the continent. Blackney Management, London based Fund Company, is investing in the continent for over a decade, and to name some countries they are Angola, Mozambique and Ethiopia. South Africa’s Pamodzi Investment Holding is investing US $ 1.3 billion pan – Africa fund backed by US financial institutions.
Over the years investment opportunities have gone up very much in African countries. In the year 2000, only 66 firms were listed on Sub- Sahara stock exchanges, now it is more than 522 firms. Once Africa was termed as a ‘risky’ and ‘low return’ is now looking more robust and lucrative to investors.