Extractive industries are perceived as offering the greatest investment potential
Capital inflows are forecasted to reach US$150b by 2015.
The results of our first Africa attractiveness survey highlight what over 500 business leaders had to say about Africa's growth story, the latest foreign direct investment (FDI) trends and the region's growth potential.
Growth in Africa
We've found that Africa is becoming more attractive to investors. Capital inflows are forecasted to reach US$150b by 2015.
To a large extent, perceptions of Africa as a place to do business mirror the improved political and economic conditions that are driving the continent's growth story.
Read our 2011 Africa attractiveness survey to find out why so many companies are investing in Africa.
Oil and gas in Africa
Oil and gas investments are perceived as having strong growth potential, according to the results of our survey.
Extractive industries are
perceived as offering the
greatest investment potential
This perhaps reflects a more general perception that Africa's economic growth over the last few years has been largely driven by the commodities boom. It also underlines the increasing strategic importance of Africa's rich resource base.
The data backs this perception to some extent, showing that, over the period 2003 – 10, the extractive industries attracted by far the greatest proportion of FDI (more than 50%). As a single category in our analysis, the coal, oil and gas sector itself accounted for 40% of FDI capital invested into Africa over this period. This demonstrates how critical this sector has been in driving the African growth story.
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