News Column

London Summit to Market Africa

June 23, 2014

A two day international summit will assemble in London to showcase Africa's investment potential to investors with a focus on access to global financial sector.

The Global African Investment Summit will attract hundreds of participants will specifically look at the role of banking sector in delivering investments to Africa and technology transfer.

The Summit is scheduled for 20th and 21st to provide a unique opportunity for companies to improve their brand awareness, better understand bankable projects, network with investors, and secure more market share in some of the most exciting economies & markets in Africa.

The summit has attracted presidents, investment advisors, ministries of energy, agriculture, transport, finance and ICT, government agencies, national oil and state power companies, communication agencies, national investment bodies, pension funds and individual entrepreneurs.

Four presidents Paul Kagame of Rwanda, Jakaya Mrisho Kikwete of Tanzania and Ghana'sJohn Dramani Mahama with their line minsters and technocrats will be in London to discuss africa's economic transformation and how Africa can work with investors from the western world.

The Summit is being organized by Global African Investment Summit whose director Paul Sinclair was in Kampala to discuss details with government officials including the Prime Minister and other minister ahead of the meeting.

Sinclair in an interview said the Summit will focus on crucial sectors which are at the center of Africa economic growth like oil and gas following the discovery of petroleum products in Uganda, Tanzania, Kenya and Ghana which has started production.

Other key sectors which will be discussed include power or energy and critical infrastructure development like roads, railway and energy generation plants and agribusiness.

"In the previous times we have had events that looked at policies, wars and corruption which is ok but Africa needs less talk," Sinclair stated hinting on the need for economic action to transform the continent.

Sinclair said that African countries need investment that will have remarkable social and economic impacts on its people by narrowing the GDP to human development indices. Such investment should be able to create jobs, exports and investments capital.

In the past few years, developing countries in Africa have been trying to loosen up the demands needed to set up businesses as it has been one of the many impediments that deterred or delayed investments to kick off as it has been widely noted by World Bank doing of business reports.

Now these processes are being addressed together with enabling political environment to attract investors with big monies to inject in these young economies like Uganda and Rwanda.

"Governments are working on political stability which is good for investments. Political stability will always play a vital role in easing the way people do business. Uganda for example has a good monetary and fiscal policy which is enticing to international investors," Sinclair noted, adding that the summit will portray Africa in a good manner.

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Source: AllAfrica

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