Seeds of Opportunity: The African Growth Series
February 2024 | Issue 3
In this week's issue, you will learn more about:
- AFRICA TREND: SEZs Drive Economic Diversification in Africa
- AFRICA OPPORTUNITY: Fertile Investment Landscapes for Your Next Venture
- BUSINESS DAY TV INTERVIEW: SOUTH AFRICA'S GREEN HYDROGEN ECONOMY
- AFRICA OPPORTUNITY: The Transformative Power of Digital Technology Across the Continent
- NEXT WEEK: Africa’s Green Economy Summit 2024 | Cape Town
- UPCOMING EVENT: AFRICA ENERGY INDABA 2024 | Cape Town
AFRICA TREND: SEZs Drive Economic Diversification in Africa
Special Economic Zones (SEZs) are geographically designated areas that offer incentives, infrastructure, and regulatory exemptions to attract investment and foster industrial development. According to UNCTAD, there are 237 SEZs in 38 African countries, with more under construction or planned. SEZs have been instrumental in diversifying African economies, creating jobs, boosting exports, and enhancing competitiveness.
Some of the success stories include Morocco’s Tanger Med Zone, which hosts over 1,200 companies and employs over 100,000 people, generating USD 14 billion per annum. Kenya’s Konza Technopolis aims to become a leading innovation hub in Africa, attracting USD 14.5 billion in investment and creating 200,000 jobs by 2030. In addition, the Tshwane Automotive SEZ in South Africa secured a USD 1 billion investment from Ford Motor Company to produce the next generation of Ford Rangers.
AFRICA OPPORTUNITY: Fertile Investment Landscapes for Your Next Venture
The African continent is brimming with opportunities for startups and expansions alike, with a range of developed financial markets scattered from north to south.
The Absa Africa Financial Markets Index is a vital tool for investors and policymakers alike, who can use the data to make revolutionary decisions for the continent. The index considers six aspects, including market depth, access to foreign exchange, market transparency, tax and regulatory environment, capacity of local investors, macroeconomic opportunity, and legality and enforceability of standard financial markets master agreements.
Taking the lead as the most developed financial market on the continent, South Africa scored an index score of 88 on the Absa Africa Financial Markets Index. Mauritius and Nigeria follow closely behind and have maintained their top three places from the previous year. Index scores for Uganda, Kenya, and Namibia have risen to improve their ranking within the top ten in 2022.
The publication of this data opens doors to markets that are now legitimated through quantification, allowing for more businesses and investors to take advantage of what Africa has to offer.
BUSINESS DAY TV INTERVIEW: SOUTH AFRICA'S GREEN HYDROGEN ECONOMY
Last week, the Mining Indaba in Cape Town coincided with the first-ever Solar Power Africa event, which highlighted South Africa's green hydrogen potential amidst efforts to boost renewable energy development in Africa.
Learn more as Craig Parker, Research Director at Frost & Sullivan Africa discussed SA's green hydrogen potential in greater detail with BusinessDay TV.
AFRICA OPPORTUNITY: The Transformative Power of Digital Technology Across the Continent
Digital technology in Africa promises to create 1.2 million new jobs in South Africa alone by 2030, boost income, and drive GDP growth. However, unlocking the full potential of new technologies in Africa requires addressing education, infrastructure and inequality challenges.
Find more information from our expert consultant analyst, Sisonke Mgwebi, as she elaborates on the opportunities for technology to improve the quality of life across Africa.
For more expert information on opportunities on the continent, contact Lynne Martin at lynne.martin@frost.com.
NEXT WEEK: Africa’s Green Economy Summit 2024 | Cape Town
🚨 5 DAYS TO GO until the 2nd edition of Africa's Green Economy Summit, so secure your spot before space runs out!
Visit our website: https://lnkd.in/ewiKPVe5
Register here: https://lnkd.in/dBcq6XFU
Looking forward to seeing you next week!
UPCOMING EVENT: AFRICA ENERGY INDABA 2024 | Cape Town
🌍 There is still time to join us at the Africa Energy Indaba Conference and Exhibition on 5-7 March 2024 at the Cape Town International Convention Centre!
Don't miss your chance by registering today - https://lnkd.in/dRtVe_Mk
Empower the future with us! ⚡
To find out more about opportunities in Africa, please get in touch with Lynne Martin.
