More economic investment opportunities due to 2010 World Cup in South Africa.
The African Union’s New Partnership for Africa’s Development, NEPAD unveiled ‘The Best of Africa 2010-2015’ project aimed at attracting investments into Africa.
The project will focus on showcasing Africa as a business and investment destination, according to NEPAD’s Planning and Co-ordinating Agency chief executive officer Dr. Ibrahim Assane Mayaki.
The initiative draws on the declaration of the 8th Assembly of the African Union (AU) Heads of State and Government through which the AU reaffirmed its commitment to make the 2010 World Cup a truly African tournament.
“We are looking to take advantage of the presence of the international and African business representatives that will be in South Africa for the World Cup in June. The idea is to get these representatives to engage each other on increased investments, growth and development for Africa.” says Dr. Mayaki.
The Best of Africa project will take place in the first week of the World Cup in South Africa and will include a business conference, an exhibition and a cultural festival – all designed to showcase opportunities in the continent.
“It is a worthwhile initiative but much will depend on how well the African governments follow through with parties interested in investing in Africa. It is clear that there are investment opportunities in Africa but it is important to provide the favourable environment for investors to see a return.” says TradeInvestSA editor JP van der Merwe.
“Feasibility studies for new projects will need to be thorough, land rights and ownership will need to be well defined and governments will have to outline definitive investment plans, where a thorough step-by-step process is followed. For portfolio investments, African markets will have to continue to open themselves up so that potential investors can buy or sell assets quickly and without hassle,” he adds.