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03:21Last update on: 12 Aug 2013
The Namibian
Mon 12 Aug 2013
SMS Of The Day * MINISTRY of Gender and Child Welfare, TEARS are rolling down as I write this SMS. The killing of women in Namibia is now like reciting a poem. Are we really getting the protection we deserve while women not being treated as part of this c Food For Thought * SO the Zimbabwe elections were free and peaceful and not free and fair? Bouquets And Brickbats * NURSES at Katutura Hospital must stop wearing those big plastic sandals at work because they are not the official working shoes. We want to see you looking smart and beautiful with your full uniform. SMS Of The Day * THIS nation is in dire need of a massive conference on housing. When we experienced a crisis in the education sector a crisis-control brain-storming conference was organised which resulted in the best deal ever for the Namibian child, nam Food For Thought * BOURGEOISIE has become a daily occupation if not the order of the day of the upper-echelons, President Hifikepunye Pohamba we urge you to revisit this unpatriotic geocentricism among your staff and the well-connected, for everybody to r Bouquets And Brickbats * COMMISSIONER of Prisons, can you please explain the strategies you use to appoint officers to certain positions? It is my observation that you are being fed with wrong information then you just promote individuals without making p SMS Of The Day * I THINK Paulus ‘The Rock’ Ambunda lost his belt because of this promoter and trainer. How can a world champion still be training at the Katutura Youth Complex where there is not enough equipment. I think they must follow the example of Ha Food For Thought * NAMIBIA Dairies are unable to match low prices of imported milk and this ultimately means the consumer will have to pay more for local milk. Look at the prices of the local chicken. All these profits are going in the pockets of a few in Bouquets And Brickbats * I AM pleased to hear that Cabinet has responded positively to the proposal of Namibia Dairies to support the industry. The restrictions which support the industry by reducing competition to ensure the survival of the industry is a SMS Of The Day * CEO’s golden handshakes. Somewhere on our statute books there must be a provision that if a board of directors suspends/dismisses a CEO without due regard to legal provision (substantive/procedural law) such board must carry the costs for Food For Thought * JACKY Asheeke was so right with her last column- why are the fathers of the dead children not being prosecuted? (Reference to the children who died in shack fires last week) Our justice system still protects men over women. In this cont Bouquets And Brickbats * ALEXACTUS Kaure, your column in Friday’s newspaper opened my eyes. One hardly finds impartial case study analysers in Namibia. Let’s not destroy the Polytechnic’s strong foundation (Tjivikua) as yet. At least wait until the transf
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BUSINESS - ECONOMY
| 2013-08-12
Intra African investment rising by more than 30% a year
JOHANNESBURG – Investors from Europe, Asia and the United States are not the only ones chasing growth opportunities in Africa these days, Africans themselves are waking up to the potential across borders in their own backyard.
The same trends that have lured foreign capital to the continent, rising wealth, sustained economic growth and a swelling young population, are attracting investors in South Africa, Kenya, Nigeria and even Namibia.
Between 2003 and 2011, intra-African investment into new Foreign Direct Investments (FDI) projects in Africa grew at a 23% annual compound rate, according to Ernst & Young. Since 2007, that rate has increased to 32,5%, more than double the growth in investment from non African emerging markets and almost four times faster than FDI from developed markets. Underpinning this are the favourable demographics of Sub-Saharan Africa, the world’s youngest region, which will be the only region of the globe not to experience a decline in its saving rate by 2030, according to the World Bank.
By the middle of the century, Africa’s working age population will number 1,2 billion people, from around 500 million today, meaning it will provide one in four of the world’s workers, compared to one in eight from China.
While FDI and portfolio flows from outside the continent will continue to provide long-term capital, skills and technology, many believe growing intra-regional investment will create a virtuous cycle, encouraging greater foreign investment. South Africa has led the way in intra-African investment, with companies like MTN and Shoprite among the first to venture further north. Africa’s biggest economy is now one of the top five overall investors on the continent.
To the east and west, regional powerhouses Kenya and Nigeria are also major cross-border investors.
Nigeria’s Dangote Cement, controlled by the continent’s richest man Aliko Dangote, is investing $5 billion to build an African cement empire, with projects planned in Cameroon, Senegal, Ethiopia, Zambia and South Africa.
Kenyan and Nigerian banks have also expanded into their surrounding regions. Nigeria’s United Bank for Africa, with operations in 18 other African states including Ghana, Mozambique and Tanzania, expects to generate half its revenue from the rest of Africa in coming years, from 20 percent now. Pension funds in Africa could become prominent continental investors, though analysts say many will need to update their asset allocation regulations. South Africa’s Government Employees Pension Fund, the continent’s largest with around US$120 billion in assets, is investing one percent of the fund in the rest of Africa, but can invest up to five percent.
Namibia’s US$6 billion Government Institutions Pension Fund (GIPF) has a 27% allocation to South Africa and eight percent to the rest of the continent, where it is investing in both listed markets and private equity, Chief Executive David Nuyoma said. The returns have not disappointed, he added. “It’s been tremendous, 30%) plus year on year.” – Nampa-Reuters
The same trends that have lured foreign capital to the continent, rising wealth, sustained economic growth and a swelling young population, are attracting investors in South Africa, Kenya, Nigeria and even Namibia.
Between 2003 and 2011, intra-African investment into new Foreign Direct Investments (FDI) projects in Africa grew at a 23% annual compound rate, according to Ernst & Young. Since 2007, that rate has increased to 32,5%, more than double the growth in investment from non African emerging markets and almost four times faster than FDI from developed markets. Underpinning this are the favourable demographics of Sub-Saharan Africa, the world’s youngest region, which will be the only region of the globe not to experience a decline in its saving rate by 2030, according to the World Bank.
By the middle of the century, Africa’s working age population will number 1,2 billion people, from around 500 million today, meaning it will provide one in four of the world’s workers, compared to one in eight from China.
While FDI and portfolio flows from outside the continent will continue to provide long-term capital, skills and technology, many believe growing intra-regional investment will create a virtuous cycle, encouraging greater foreign investment. South Africa has led the way in intra-African investment, with companies like MTN and Shoprite among the first to venture further north. Africa’s biggest economy is now one of the top five overall investors on the continent.
To the east and west, regional powerhouses Kenya and Nigeria are also major cross-border investors.
Nigeria’s Dangote Cement, controlled by the continent’s richest man Aliko Dangote, is investing $5 billion to build an African cement empire, with projects planned in Cameroon, Senegal, Ethiopia, Zambia and South Africa.
Kenyan and Nigerian banks have also expanded into their surrounding regions. Nigeria’s United Bank for Africa, with operations in 18 other African states including Ghana, Mozambique and Tanzania, expects to generate half its revenue from the rest of Africa in coming years, from 20 percent now. Pension funds in Africa could become prominent continental investors, though analysts say many will need to update their asset allocation regulations. South Africa’s Government Employees Pension Fund, the continent’s largest with around US$120 billion in assets, is investing one percent of the fund in the rest of Africa, but can invest up to five percent.
Namibia’s US$6 billion Government Institutions Pension Fund (GIPF) has a 27% allocation to South Africa and eight percent to the rest of the continent, where it is investing in both listed markets and private equity, Chief Executive David Nuyoma said. The returns have not disappointed, he added. “It’s been tremendous, 30%) plus year on year.” – Nampa-Reuters
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