Africa's foreign direct investment fell to $45 billion in 2022, or 3.5% of the global total, from $80 billion in 2021.

New project announcements rose 39% to 766 in 2022, with six of the 15 largest investments located in Africa.

Egypt's foreign direct investment more than doubled to $11 billion due to increased cross-border M&A sales.

The value of construction and extractive industry projects reached $24 billion and $21 billion, respectively, with information and communication having the most projects.

European investors, primarily from the UK, France, and the Netherlands, are the largest owners of FDI in Africa.

South Africa saw a 1,235% increase in investment inflows, from $3.062 billion in 2020 to $40.889 billion last year.

Egypt ranked second, with $5.122 billion in flows, down from $5.852 billion in 2020.

Mozambique's foreign direct investment rose 68% in 2021, mainly in green energy projects.

Nigeria and Ethiopia received 5.8% and 5.1% of Africa's FDI inflows, mainly for clean energy projects.

In 2024, investors may reevaluate regional strategies due to changing conditions and elections in 15 African countries.

An AVCA survey found that LPs preferred West Africa, while GPs favoured East Africa, with West Africa recording 246 deals worth $1m+ between 2019 and 2023.

The British International Investment made investments in Kelix bio and Moove, a pharmaceutical platform and a fintech company, totaling $170m.

The Africa Investment Forum has coordinated $32.8 billion in investment deals, including a $15.6 billion Lagos-Abidjan highway project connecting Nigeria and Ivory Coast.

Tanzania and Uganda have seen foreign investment increases of 35% to $922 million and 31% to $1.142 billion, respectively.

Morocco's foreign direct investment rose 52% to $2.153 billion, amid a $20 billion UK transmission line project deal.

Ethiopia is one of Africa's top foreign investment destinations, with inflows rising 79% to $4.259 billion.

The World Bank will give Kenya $1 billion, and Ivory Coast plans a 50-70 megawatt solar facility.

Xlinks, an English company, plans to invest $20 billion in an Africa-UK transmission line.

The African Development Bank (AfDB) has facilitated investments in sectors such as agriculture, education, energy, and healthcare.

The AfDB's infrastructure focus will help implement the AfCFTA, a $2.5 trillion market with 1.2 billion people, by 2030.

Egypt is promoting energy sector investments by offering incentives and allowing private sector participation.

The African Export-Import Bank is developing a system to transfer funds between African countries, aiming to save $5 billion in annual transaction costs.

In-demand skills for African business administration graduates include software development, crucial for sectors attracting significant foreign investment.

A lack of management skills in many African jurisdictions constrains business development.

Combining technical expertise and management capability will set African lawyers apart and help them grow their practice.

Incorporating management skills into law programmes will benefit firms and their clients.

The Western Cape is considered one of the most exciting places in the country to do business, with many opportunities for foreign investment and growth.

Africa received $46 billion in foreign direct investment in 2020, mainly in Egypt, South Africa, and Morocco.

Most foreign investment in Africa has gone to energy and infrastructure, with companies like Total, Enel, and Siemens investing in countries like Nigeria, Egypt, and South Africa.

African entities have formed partnerships with foreign companies to promote regional investment and trade.

Business administration graduates can find job opportunities in finance, human resources, and marketing with major foreign and African companies.

The African Development Bank's African Development Fund supports business administration graduate development in Africa, allocating $1.2 billion to support education and entrepreneurship.

The Mastercard Foundation's Young Africa Works initiative aims to enable 30 million young Africans to access dignified work by 2030, supporting business administration graduates through scholarships, mentorship, and job placement services.

Economic growth in sectors like agriculture, manufacturing, and services will drive growth and create jobs for business administration graduates.

The agriculture sector is expected to create over 1 million jobs by 2025, with business administration graduates able to position themselves for roles by acquiring skills in agricultural finance, supply chain management, and marketing.

Foreign investment in manufacturing has increased in recent years, with companies like Volkswagen and Toyota setting up in countries like South Africa and Nigeria.

Business administration graduates should acquire skills in data analysis, digital marketing, and entrepreneurship to succeed in African business sectors.

Microsoft is among major foreign companies that have invested in Africa, launching initiatives to support entrepreneurship and innovation.

West Africa, especially Nigeria and Ghana, and East Africa, especially Kenya and Ethiopia, have received the most foreign investment in recent years.

Most foreign investment has gone to manufacturing and services, with significant investment also in agriculture and energy.

Business administration graduates with necessary skills and knowledge will be well-positioned for job opportunities in Africa's growing economy.

Africa's foreign direct investment fell to $45 billion in 2022, or 3.5% of the global total, from $80 billion in 2021.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
It has reached $11 billion.
UN highlights doubling of foreign direct investment in Egypt
The United Nations Trade and Development Board (UNCTAD) said in its annual report on foreign direct investment flows for the year 2022, on Wednesday in Geneva, that Egypt witnessed an increase in foreign direct investment more than doubled to $11 billion as a result of increased cross-border M & A sales.
Investment flows to Africa fell to $45 billion in 2022 from a record $80 billion in 2021 and accounted for 3.5 percent of global foreign direct investment, the report said, adding that international project financing deals targeting Africa showed a 47 percent drop in value.
The report pointed out that the number of announcements of new projects increased by 39% to 766, and that six of the 15 largest new investment mega projects (those worth more than $10 billion) announced in 2022 were in Africa, stressing that Egypt witnessed an increase in foreign direct investment more than doubled to $11 billion as a result of increased cross-border M & A sales.
The number of new projects has more than doubled to 161, and the value of international project financing transactions has increased by two-thirds to $24 billion.
FDI inflows have risen over the past five years in four of the continent ’ s regional economic groupings, with FDI in the Common Market for Eastern and Southern Africa (COMESA) growing by 14% to $22 billion, and inflows also rising in the Southern African Development Community (SADC) (quadrupled to $10 billion) and the West African Economic and Monetary Union (WEMU) (doubled to $5.2 billion). East African Community (up 9% to $3.8 billion).
According to the report, the largest increase in 2022 was in new field projects announced in energy and gas supply (to $120 billion from $24 billion in 2021), and the value of projects in construction and extractive industries rose to $24 billion and $21 billion, respectively, while the information and communication sector recorded the largest number of projects.
European investors remain by far the largest owners of FDI in Africa, led by the United Kingdom ($60 billion), France ($54 billion) and the Netherlands ($54 billion).

What was the total FDI inflow to Africa in 2022 and how did it compare to 2021?

$45 billion, which was down from $80 billion in 2021

New project announcements rose 39% to 766 in 2022, with six of the 15 largest investments located in Africa.

What trends are emerging for African startups in 2022?

Egypt's foreign direct investment more than doubled to $11 billion due to increased cross-border M&A sales.

The value of construction and extractive industry projects reached $24 billion and $21 billion, respectively, with information and communication having the most projects.

European investors, primarily from the UK, France, and the Netherlands, are the largest owners of FDI in Africa.

Which countries are actively investing in Africa besides China?

South Africa saw a 1,235% increase in investment inflows, from $3.062 billion in 2020 to $40.889 billion last year.

Title:

Content: « Money » monitors the forecasts of economic analysts for foreign investment flows in the current year
A number of them predicted it would reach $10 billion.
Samar Al-Sayed
Praying for Mahmood
6: 59 AM, Wednesday, 27 Jul 22
Wael Ziadeh: The Russian-Ukrainian war is an opportunity for the Egyptian stock exchange to attract more capital
Esraa Ahmed: Clean energy, infrastructure and digital financial services are the most attractive sectors
Hani Geneina: Companies should be encouraged to reinvest their profits instead of transferring them to parent entities abroad
Naaman Khaled: Most of the money will come from Gulf markets
The Egyptian government aims to increase foreign direct investment flows, especially the Gulf, in the local market in the coming period, in light of the repercussions of the Russian-Ukrainian war on the global and local economies, and a number of analysts and macroeconomic experts estimated the value of these investments to reach $10 billion, driven by various factors, including the decline in the stock prices of companies on the stock exchange, and the exchange rate of the pound against the dollar.
The latest report issued by UNCTAD in June on the volume of foreign investment flows in 15 African countries last year showed that Egypt ranked second in the list, recording the volume of flows about 5.122 billion dollars compared to 5.852 billion in 2020 compared to 9.010 billion in 2019.
South Africa came first last year with a 1,235% jump in investment inflows of $40.889 billion compared to $3.062 billion in 2020 and $5.125 billion in 2019.
Wael Ziadeh, founder and CEO of Zela Capital, said that the Russian-Ukrainian war had negatively affected foreign direct investment flows in the world, while inter-state assistance had increased to counter the negative consequences of the war.
He explained to Al-Mal that these negative effects included the exit of investment flows from some emerging countries, which led to the impact of their trade balance, especially as their imports of food and oil more than their exports, for example Turkey and many European countries, as well as Sri Lanka.
On the other hand, the war represents a positive area for these countries, especially in activating the stock market sector, he said, adding that in this context, the Egyptian Exchange has opportunities to attract more foreign investments in the coming period.
He predicted that Egypt will take no more than six months to recover its trade balance once the war is over, as the prices of petroleum products and food will fall rapidly, as they rose rapidly after the outbreak of the war.
The objectives of the Egyptian government published in July 2021 in the second and final review report of the Credit Standby Arrangement Program signed with the International Monetary Fund, amounting to about $5.4 billion, indicated that the percentage of net foreign direct investments of GDP will rise to 2.5% in the current fiscal year compared to 2% in the last fiscal year, adding that it recorded 1.4% in the fiscal year 2021 / 2020, 2% in 2019 and 2.6% in 2019. / 2018.
These targets pointed out that the proportion of net foreign direct investment will jump to 3% of GDP in the fiscal year 2025 / 2024 compared to 2.9% in 2023 / 2024.
The government also expected in the report to increase the volume of foreign direct investment flows in the local market to about 11.7 billion in the current fiscal year against 8.6 billion dollars in the last fiscal year 2022 / 2021 to rise to 14.9 billion in the next fiscal year (2023 / 2024) and 16.5 billion in 2025 / 2024.
According to the Central Bank of Egypt ’ s forecasts issued in its statistical bulletin for May, the proportion of net foreign direct investment in GDP declined to about 1.3% in the fiscal year 2020 / 2021 compared to 2% in the fiscal year 2019 / 2020, adding that it was 2.7% in the fiscal year 2018 / 2019 and 3.1% in the year 2017 / 2018.
Economist Hani Geneina predicted that the value of net foreign direct investments in the local market will exceed 10 billion dollars in the coming period, due to several different factors, including the decline in the prices of shares of companies in the stock exchange and the exchange rate of the pound against the dollar.
However, Egypt was the second largest recipient of foreign direct investment in the African continent, he said, adding that recent pledges from Gulf countries to invest about $22 billion in various sectors will boost foreign direct investment in the future.
The number of new green projects in Egypt has more than tripled to $5.6 billion, according to the UNCTAD report, pointing out that for example, the UAE real estate company Reportage announced a real estate project worth $1.5 billion.
According to the report, the volume of foreign direct investment flows to North Africa declined by 5% to $9.3 billion last year.
Geneina told Al-Mal that the flows of foreign direct investments to the markets are divided into three types, the first is the acquisition of one company on another by more than 10%, pointing out that this investment happened last fiscal year, such as the acquisition of the UAE Holding “ADQ ” on several Egyptian companies, pointing out the importance of this type of investment, but it is not very useful in the list of foreign investments.
This type of rapid investment is encouraged by the decline in both stock prices on the stock exchange and the exchange rate of the pound against the dollar, as well as the recent government stimulus measures that included the implementation of the state ownership document.
The document of state ownership announced by the government in mid-June revealed the most prominent sectors that will witness the stabilization or reduction of government investments (while allowing the participation of the private sector), a number of activities in the transport, education, mining, real estate, electricity, telecommunications and sports sectors.
Geneina said that the second type of flows is the reinvestment of a foreign company present in the market for its profits again, pointing out that this type is classified in the balance of payments as foreign direct investments.
He added that the most prominent local sectors that will go to this type of investment is oil and gas, due to the high value of its profits achieved last fiscal year, and will therefore reinvest its large financial surpluses during the current fiscal year.
He pointed out that the third type of investment is the most difficult, which is the establishment of a new company or project from the beginning, and the employment of new workers, pointing out that for example, Dana Gas announced that it will expand its operations implemented in the local market.
This area is likely to witness an increase during the current fiscal year, especially in the oil and gas sectors and related sectors, namely petrochemicals and fertilizers, especially by Gulf investments in light of the features announced recently by the government, namely the state ownership document, the gold license, as well as the large financial surpluses they have, which motivates them to invest in the local market.
In mid-May, Prime Minister Mostafa Madbouly announced a number of concessions on the industrial sector, most notably the issuance of the golden license for some projects, pointing out that it will be granted once and include three areas as a start, namely green hydrogen, electric car manufacturing and infrastructure, seawater desalination projects and renewable energy.
Geneina stressed the importance of the government encouraging foreign companies to reinvest their profits in the local market instead of transferring them to parent companies abroad by providing incentives to urge them to take this step.
According to the latest UNCTAD report, Mozambique ranked third in the list of foreign investment flows to 15 African countries last year, and its inflows rose by 68% to $5.102 billion compared to $3.035 billion in 2020, while it recorded 2.212 billion in 2019.
Nigeria ranked fourth on the list, attracting inflows of 4.844 billion over the past year, an increase of 103 percent from the previous year, the data added, adding that it recorded 2.385 billion in 2020 and 2.305 billion in 2019.
Ethiopia followed in fifth place, and foreign direct investment inflows increased last year by 79% to $4.259 billion compared to $2.381 billion in 2020.
In the sixth place came « Congo » with the volume of flows of $3.691 billion, a decline of 8% from its value in 2020, and recorded 4.016 billion dollars, followed by Ghana in the seventh place in the list and increased flows by 39% to reach 2.614 billion dollars during 2021 compared to 1.876 billion in 2020.
According to data from the UNCTAD list, foreign direct investment flows in Senegal jumped by 21% to 2.232 billion against 1.846 billion dollars in the previous comparison period.
According to the report, the value of flows to Morocco increased by 52% last year to $2.153 billion, and a major international financing deal was announced there, a $20 billion construction project for a 3,800km transmission line to the UK with a capacity of 3.6 gigawatts, sponsored by English company Xlinks.
The Democratic Republic of the Congo ranked 10th on the list, with investments up 14% to $1.870 billion compared to $1.647 billion in 2020.
Gabon came in eleventh place, with direct investment flows falling by 5% last year to record 1.635 billion dollars compared to 1.717 billion in 2020, followed by Uganda, with flows rising by 31% to 1.142 billion dollars compared to 874 million in 2020.
Tanzania ranked 13th, with foreign investment up 35 percent in 2021 to $922 million compared to $685 million in 2020.
According to the bulletin, investment flows in Algeria decreased by 24% last year to $870 million compared to $1.143 million in 2020, pointing to the decline of investments in Tunisia to $660 million compared to $652 million in 2020 to be ranked 15th.
Esraa Ahmed, a macro-economic analyst at the investment bank “Ahly Pharos ”, agrees with Geneina ’ s opinion as she expects the volume of net foreign direct investment in Egypt to rise to about $10 billion during the current fiscal year (2022 / 2023), up from levels that will not exceed $7 billion in the fiscal year ending 2021 / 2022.
She added that this rise is driven by the Gulf investment flows that have been announced recently, and the acquisition deals that we see are witnessing activity during the current period.
There are other factors that may prevent net foreign direct investment from rising to larger numbers in the near future due to the continuation of the war in Ukraine and its repercussions on the global economy.
According to Ahmed, these factors are the economic situation of the European Union, which is an important partner for Egypt in terms of trade and investment, in addition to the general reluctance globally to risk starting new projects, and the prevailing outlook for emerging markets and the risks of their currencies.
On the sectors that may witness foreign inflows during the coming period, she said that the most prominent of them are clean energy, new infrastructure driven by the expansion of the state in this field, in addition to digital financial services, and some branches of manufacturing industries.
For his part, Numan Khalid, a macro-economic analyst at Arqaam Capital, said that the current circumstances in the world prevent the possibility of predicting the volume of foreign direct investment flows in the local market during the coming period.
He added that most of the investments come from the Gulf market, especially from Saudi Arabia and the UAE, pointing out that these two countries have benefited greatly from the recent increases in oil prices, and thus have a great financial solvency through which to invest in surrounding countries, especially in Egypt, which is one of their target markets.
He pointed out that health, hotels, real estate and the financial sector will witness an increase in the volume of investment flows to them during the coming period.
During his participation in the Qatar Economic Forum last June, the Minister of Finance, Mohamed Maait, looked forward to increasing the volume of Gulf investments with the transformation of their deposits in Egypt into real investments that benefit from the promising development opportunities available in various fields.

What trends are emerging for African startups in 2022?

Egypt ranked second, with $5.122 billion in flows, down from $5.852 billion in 2020.

Which African countries are driving the venture capital ecosystem?

Mozambique's foreign direct investment rose 68% in 2021, mainly in green energy projects.

Title:

Content: AFED: EGYPT RECEIVED $5.1 BILLION INVESTMENTS IN 2021
GDP growth is expected to rise to 4.4% this year
Abdulrahman Abu Al-Enein
6: 52 AM, Wednesday, 31 May 23
Recent data issued by the African Development Bank (AfDB) revealed that Egypt ranked second in terms of foreign direct investment flows in the continent in 2021 and attracted nearly $5.1 billion.
According to the Africa Economies Outlook 2023, South Africa was the largest recipient of foreign direct investment in 2021 with investments of more than $40.9 billion, nearly half of the total inflows to the continent in that year, followed by Egypt and Mozambique, which each attracted nearly $5.1 billion, representing about 6.2% of the total volume.
In the same context, the report expected Egypt ’ s GDP growth rate to decline to 4.4% this year from 6.6% estimated last year, and to rise to 5.1% next year.
The report pointed out that the inflation rate rose from 4.5% in the fiscal year 2020 / 2021 to 8.5% in the fiscal year 2021 / 2022 due to the rise in food and energy prices globally and the devaluation of the pound against the dollar.
He said that the current account deficit shrank to 3.5% of GDP in the fiscal year 2021 / 2022 compared to 4.4% in the previous fiscal year 2020 / 2021 due to the rise of tourism revenues to 10.7 billion dollars against 4.9 billion dollars, respectively.
The African Development Bank pointed out that the banking sector remains profitable and well capitalized, noting that the rate of non-performing loans reached 3.2% in June 2022, explaining that subsidies and social protection programs have reduced the impact of high food and energy prices on vulnerable families.
The Minister of Planning Hala Al-Said said in previous statements that despite the current effects of the Russian-Ukrainian crisis, which is likely to spread over the next year, the Egyptian economy is expected to grow by 4.2% by the end of the current fiscal year 2023-2022.
Al-Saeed said that with the development of inflationary trends in the Egyptian economy and despite the success of the state in curbing it and reducing it from very high levels (25% in 2017-2016) to less than 5% in 2021-2020, the rate increased to about 15% in 2022, and continued to rise, especially after the Russian-Ukrainian crisis.
Foreign direct investment in Mozambique increased by 68% in 2021, the report said, noting that these investments were largely directed to green projects in the energy sector.
Nigeria accounted for 5.8% of FDI inflows to Africa and Ethiopia 5.1% despite economic challenges.
The bulk of foreign direct investment in these countries is increasingly going to clean energy resource projects.
Mauritius and South Africa recorded the largest outflows in 2021, but a few countries recorded net inflows, including Egypt ($18 billion) and Nigeria ($5.9 billion).
The Bank estimates that capital flight through net investment outflows continued in 2022 at around $28 billion, which is close to the 2021 level due to higher interest rates linked to deflationary monetary policies in developed countries.
Official development assistance (ODA) to Africa stabilized at $65 billion in 2021 after the previous 28 percent jump in 2020.
The significant increase in such assistance since 2020 reflected the support provided by the international community to help African governments address the humanitarian, social and economic impacts of the coronavirus epidemic and the difficult global economic conditions.
The African countries that saw the largest increase in ODA in 2021 included Egypt (428%), Equatorial Guinea (115%), Angola (109%), Gabon (82%) and Sudan (60%).
The report pointed out that official development assistance to Egypt during 2021 amounted to about 8.2 billion dollars, Ethiopia 4 billion dollars, Sudan 3.8 billion dollars, the Democratic Republic of the Congo 3.5 billion dollars, Nigeria 3.4 billion dollars, and Kenya 3.1 billion dollars.
African countries need to leverage this external support to address existing vulnerabilities and build more resilient economies, given the risks that advanced economies are reallocating resources for reconstruction and humanitarian assistance in Ukraine at the expense of meeting the continent ’ s official development assistance commitments.
Ukraine received $16.1 billion in net official development assistance (ODA), equivalent to 7.8 percent of the total aid resources provided last year.
It is noteworthy that the report was launched in light of the annual meetings of the African Development Bank Group held under the auspices of President Abdel Fattah El Sisi in Sharm El Sheikh from 22 to 26 May.

Nigeria and Ethiopia received 5.8% and 5.1% of Africa's FDI inflows, mainly for clean energy projects.

In 2024, investors may reevaluate regional strategies due to changing conditions and elections in 15 African countries.

Title:

Content: In 2023, standards became higher than ever for global tech. Customers want to be able to buy something in two clicks but still need in-person customer service. Workers want to work digitally, ideally from a beach somewhere, while maintaining a connection with their colleagues. And the truth is these standards are unlikely to get lower soon.

In Africa, the tech scene hasn’t been any less dramatic. It was, in many ways, a market correction. Several startups shut down, while many others survived by bone-deep cost-cutting or mergers and acquisitions. Founders and investors have gone from chasing Silicon Valley-esque growth to seeking a balance with the African market. Between 2020 and 2023, African tech went from the “peak of inflated expectations” point to the “plateau of productivity” side of Gartner’s hype cycle.

Now, what’s next? That’s what everyone wants to know as we enter a new year. Predicting the future is hard and risky. But it’s even harder in the digital tech industry because, as we’ve seen in the past three years, things change fast and dramatically. However, 2023 gave several pointers to trends we should all pay attention to in the new year.

Crypto/Web3

2022 was a rough year for the crypto market. Everything went wrong, from Terra’s downfall to FTX’s scandal. But 2023 was a lot better as Bitcoin ended the year over 150% higher than where it started. The Solana blockchain also made a dramatic comeback, with its token rising over 1000%.

Why does this matter? Because price is still the main driver of the crypto ecosystem. Funding pours into startups when prices are high and dry up when prices are low. It also means the hype bubble will likely return because markets become irrational in the face of high prices.

Africa is the fastest-growing cryptocurrency market among developing economies, primarily because people seek to hedge against inflation. Young people are drawn to low-barrier opportunities to generate wealth, which is crypto’s biggest use case today.

Africa’s regulatory environment is also slowly buying into crypto. In December, Nigeria’s central bank lifted a ban on cryptocurrency transactions, saying global trends had shown a need to regulate such activities.

Artificial intelligence

AI has become the rave of the moment, thanks to OpenAI’s breakthrough with ChatGPT. The chances that an image or text you see on social media are products of generative AI are higher than ever. Every big tech player is in the race for AI dominance. Google launched Gemini in December, a few weeks after Elon Musk’s xAI launched Grok, another ChatGPT competitor.

One in every four dollars that went into the pocket of an American startup was related to AI, per Crunchbase data. According to McKinsey data, AI startups garnered over five times as much funding in the first half of 2023 as they did over the same period in 2022. Global demand for talent in this section also spiked in 2023. LinkedIn job postings that mention AI or generative AI have more than doubled since 2021.

In Africa, we are seeing more startups either focus on AI or apply it to their processes. For instance, OnePipe, a Nigerian fintech, uses artificial intelligence for fraud detection and prevention and biometric verification for customer KYC implementation. It also uses natural language processing for conversational transactions. Nokwary, a Ghanaian startup, uses speech recognition and conversational user interfaces to enable visually impaired people and those who can’t read and write to interact with banking apps and systems through spoken commands.

The biggest challenge to an AI boom in Africa is data. However, this poses a huge opportunity for research and data collection companies in the continent.

Mergers and Acquisitions

Many startups shut down between 2022 and 2023, either because they couldn’t raise more cash or because tough economic times got the better of them. But that wasn’t the only trend that emerged. Many others survive by getting acquired. Nearly 70 acquisitions have happened between 2022 and 2023, according to data from The Big Deal and BD Funding Tracker. Some notable deals were Risevest and Chaka, BioNTech and InstaDeep, Bitmama and PayDay, and FairMoney and PayForce.

Mergers and Acquisitions will likely remain a trend for as long as valuations are low. Over the last two years, startups have been more cautious about bloating their valuations, and investors have kept the same sentiment. It’s partially why we haven’t recorded new unicorns in a minute. MNT-Halan was the only new entrant in the last two years.

This also creates an opportunity for African startup marketplaces, which will replicate Acquire.com to make acquisition easy for startups with solid products but low clout.

International work for Africans

Many African countries saw their currencies devalued in 2023. Inflation rates have also spiked in many economies. This creates a stronger appeal for them to earn foreign currencies and an [almost worrisome] opening for Westerners to find cheap labour in Africa. This is crucial because wage rates are rising in China and India, making it increasingly expensive for companies to outsource services there.

Studies by Bloomberg show that China’s upper-middle class now dominates, with over 200 million urban households having disposable incomes of $16k — $34k. Meanwhile, many Sub-Saharan economies have seen their middle-class shrink in recent years.

Also, there aren’t enough opportunities for young people to work remotely in Africa. Ten to twelve million young Africans enter the labour market each year, and an estimated one-third of the 600 million young people entering the global market by 2030 will be young Africans.

This trend will create opportunities for new approaches to apprenticeship or employment matching. It also means startups focused on building tech talent will likely see growth in 2024.

New regional preferences

In 2024, investors could reevaluate their regional strategies in response to changing macroeconomic and political conditions. Per the EIU, fifteen African countries have elections next year, and investors will observe their outcomes keenly. Elections are fraught with risk, especially in regions where armed conflict is rampant. The EIU notes that elections in Algeria, Egypt, Ghana, and South Africa will add to political risk, which could have long-term implications on where investors put their money.

An AVCA survey revealed that LPs favoured investing in West Africa while GPs leaned towards East Africa. The data aligns with this: between 2019 and 2023, per The Big Deal, there were over 700 recorded deals worth $1m or more. West Africa led the pack with 246, East Africa with 175, Northern Africa with 160, Southern Africa with 147, and Central Africa with 14. Depending on the degree of confidence, the numbers could realign with investors becoming more risk-averse. It’s all “wait and see” going into 2024.

Elsewhere on Ventures

An AVCA survey found that LPs preferred West Africa, while GPs favoured East Africa, with West Africa recording 246 deals worth $1m+ between 2019 and 2023.

What trends are emerging for African startups in 2022?

The British International Investment made investments in Kelix bio and Moove, a pharmaceutical platform and a fintech company, totaling $170m.

Title:

Content: When asked for his views on diversification as a strategy for portfolio management, Warren Buffett responded, “diversification is protection against ignorance”. Instead of a diversified portfolio, the Oracle of Omaha famously prefers a concentrated one, composed of a few sectors he has rigorously studied.

The UK’s investment strategy for the African continent is seemingly straight out of the Buffett playbook. As of 2020, the UK holds $65bn in total foreign direct investment (FDI) stock in Africa, second only to China. The vast majority of the portfolio is in oil, gas, mining and financial services.

In 2022 five new oil and gas deals worth £2.1bn were struck at the UK-Africa summit. In stark contrast, just £161m (8% of the total summit commitments) were invested in clean energy. One may agree with the UK’s strategy, suggesting that there aren’t many other high-yield investments to be made other than in oil majors, legacy miners and grey-haired banks. And besides, who would disagree with Buffett’s dictum? He is the sixth-wealthiest person in the world after all.

The truth of the matter is that Buffett would not be as wealthy as he is without adapting to changes in market trends, technologies and geopolitics. In May he sold his remaining stake in chip manufacturer TSMC due to geopolitical considerations (TSMC is based in Taiwan). A concentrated portfolio does not mean a stagnant one. It is this insight that the UK is overlooking, setting itself up to miss opportunities in those new industries rapidly taking shape across the world’s youngest and most promising continent.

Two trends are shaping markets across the continent. One of these is the adoption of financial technologies and the other is increased demand for healthcare, a consequence of Africa’s population boom and rising standards of living.

Fintech sector

McKinsey, a consultancy, estimated that revenues in the African fintech sector could surge eight times their current value to $30bn by 2025. Between 2020 and 2021 alone, the number of tech start-ups tripled to 5,200 companies. In 2021, seven of the 10 newly minted African unicorns (private companies valued over $1bn) are fintechs. As more Africans get connected and as digital identification verification models mature, fintechs will scale and profits will follow.

The second sector is pharmaceuticals. As Africa’s population grows and incomes rise, more money will be spent on healthcare. Within this sector, the Covid-19 pandemic laid bare the worrisome state of Africa’s vaccine and therapeutic manufacturing capabilities. Estimates vary, but some assessments forecast vaccine demand to double in volume from about 1-billion doses now to more than 2.7-billion doses by 2040. Industries adjacent to pharmaceuticals such as logistics, packaging and protective equipment are likely to cash in on increased private and public healthcare expenditure.

There are some positive signs that the newly revamped British International Investment (BII), formally the Commonwealth Development Corporation, is adjusting its investments because of these market trends. In 2020, the BII made a $150m investment in Kelix bio, a pan-African pharmaceutical platform focusing on manufacturing and marketing. It also executed a $20m, four-year structured credit deal with Moove, a fintech company that provides customers with cheaper access to vehicles.

Risk premium

These steps are positive but they are small. Inward FDI for Africa remains pitiful. Last year set a record for the continent, bringing in $83bn. To put this in context, the City of London in 2020 hit $831bn in FDI (10 times that of a continent of 54 countries), according to the Office of National Statistics.

What to make of this all? At least two insights. First, the UK should look to new sectors, taking bold bets in companies leading the fintech and pharmaceutical sectors. The second insight is that Africa’s risk premium is overpriced. There is opportunity beyond the industries of the 20th century; one just needs to look for them.

• Nott works for a venture facility for public benefit and is based in London. He writes in his personal capacity. You can follow his writing on Twitter @TheAfricaBrief.

Picture: 123RF

What trends are emerging for African startups in 2022?

Which European countries lead investment in Africa?

The Africa Investment Forum has coordinated $32.8 billion in investment deals, including a $15.6 billion Lagos-Abidjan highway project connecting Nigeria and Ivory Coast.

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Content: Chairman of the Board of Directors and Editors
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Mohamad Elbaz
Editor-in-Chief
Wael Lotfy
Chairman of the Board of Directors and Editors
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Mohamad Elbaz
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Wael Lotfy
Africa Investment Forum Announces $32.8 Billion Investment Coordination
African Development Bank (AfDB) President Akinwumi Adesina announced that the forum succeeded in coordinating investment deals for projects in Africa worth $32.8 billion.
At the end of the Africa Investment Forum, Adesina said that the largest deal reached at the African Investment Forum, which was held by default, during the period from 15 to 17 March, amounted to $15.6 billion for the Lagos-Abidjan highway, which connects two major cities in West Africa, Nigeria and Ivory Coast.
The 1,200-kilometer highway will consist of four to six lanes and will take about six years to complete, he said.
The projects addressed by the forum touched on the sectors of agriculture, education, energy, climate, health care, minerals, mining and information and communication technology.
Adesina noted that other projects will include the creation of a new medical city in the Senegalese capital of Accra, a fund for health services for low-income populations in South Africa, and two pharmaceutical manufacturing platforms: one in West Africa and the other in Kenya.

Which African countries are driving the venture capital ecosystem?

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Tanzania and Uganda have seen foreign investment increases of 35% to $922 million and 31% to $1.142 billion, respectively.

What trends are emerging for African startups in 2022?

Morocco's foreign direct investment rose 52% to $2.153 billion, amid a $20 billion UK transmission line project deal.

Which European countries lead investment in Africa?

Ethiopia is one of Africa's top foreign investment destinations, with inflows rising 79% to $4.259 billion.

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The World Bank will give Kenya $1 billion, and Ivory Coast plans a 50-70 megawatt solar facility.

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Content: ADVERTISEMENT

Tanzania is fast becoming one of the best investment destinations in the world

  • The number of registered projects in Tanzania increased by 128%, in February.
  • A total of 41 projects were registered across the country.
  • e 7,370 jobs expected from the new projects portray a 493% increase over those created by projects registered in February 2022.

Tanzania's pro-business stance, perpetrated by the President of the country, Samia Suluhu Hassan is sending a positive message to investors, who are increasingly choosing Tanzania as their preferred investment destination, with the number of registered projects increasing by 128%, according to the most recent data.

The aforementioned data which was released by the Tanzania Investment Centre (TIC) shows that in February 2023, a total of 41 projects were registered across the country. This represents a 128%increase compared to 18 projects that were registered in February 2022.

Projects registered in February 2023 had a total value of $339.2 million (over Sh780 billion) and were expected to create 7,370 jobs. This reflects a 347% growth over the $75.9 million in capital estimated to be pumped into the country's economy in February 2022.

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Likewise, the 7,370 jobs expected from the new projects portray a 493% increase over those created by projects registered in February 2022.

The TIC executive director Gilead Teri noted via the TIC’s Monthly Investment Bulletin for February 2023 that through President Samia’s initiative to simplify business license registration, coupled with her devotion to growing the investment portfolio of the country, Tanzania has been able to become the attractive investment destination it is in her young tenure so far.

He stated, “apart from devoting considerable attention to supporting investors, the administration of President Samia Suluhu Hassan has streamlined licenses and permits procedures through implementing the Blueprint for Regulatory Reforms.”

He also noted that the government has increased its use of automation in compliance processes in recent months. It has also rationalized institutions to reduce duplication and simplified the process of acquiring land for investment purposes.

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President Hassan recently moved the investment docket from the Ministry of Industry and Trade to the President's Office in an effort to further transform Tanzania's investment landscape.

Additionally, the value of capital expected to be invested has increased by 413%, rising from $66 million in January to $339 million in February of this year.

Transportation remained the most capital-intensive sector, followed by agriculture, manufacturing, tourism, and commercial buildings. Transportation emerged as the leading sector in attracting investment in February 2023, with projects worth $156.17 million.

In February 2023, it accounted for 46% of the total value of projects registered. Agriculture came in second with $90.20 million, accounting for 27%, while manufacturing received $53.68 million, accounting for 15.8%.

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Tourism projects were valued at $29.02 million, while commercial buildings brought in $10.15 million, representing 9% and 3% of the total.

Manufacturing, tourism, and agriculture emerged as the top three leading sectors in attracting foreign direct investments (FDIs).

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Content: Africa Investment Forum announces coordination of investments worth $32.8 billion - Sunrise Portal
Friday 18 March 2022 7: 02 AM Cairo Cairo 24 °
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Africa Investment Forum Announces $32.8 Billion Investment Coordination
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Published on: Friday 18 March 2022 - 6: 02 AM | Last updated on Friday 18 March 2022 - 6: 02 AM
African Development Bank (AfDB) President Akinwumi Adesina announced that the forum was successful in coordinating investment deals for projects in Africa worth $32.8 billion.
At the end of the Africa Investment Forum, Adesina said that the largest deal reached at the African Investment Forum, which was held by default, during the period from 15 to 17 March, amounted to $15.6 billion for the Lagos-Abidjan highway, which connects two major cities in West Africa, Nigeria and Ivory Coast.
The 1,200-kilometer highway will consist of four to six lanes and will take about six years to complete, he said.
The projects addressed by the forum touched on the sectors of agriculture, education, energy, climate, health care, minerals, mining and information and communication technology.
Adesina noted that other projects will include the creation of a new medical city in the Senegalese capital of Accra, a fund for health services for low-income populations in South Africa, and two platforms for the manufacture of pharmaceutical products: one in West Africa and the other in Kenya.
These projects are part of the bank ’ s response to COVID-19.
The forum was originally scheduled for late last year in the Ivorian capital Abidjan, but was postponed due to an increase in the number of Omicron cases.
Adesina said: “Through the African Investment Forum, we aim to offset some of the decline in investments that occurred as a result of the COVID-19 pandemic, where“ project funding decreased by about 49%, affecting infrastructure. ”
The AfDB sees its focus on infrastructure as boosting intra-African trade, which today accounts for only about 15% of the continent ’ s total trade, as investment flows are set to help accelerate the implementation of the African Continental Free Trade Area (AfCFTA), which is expected to be fully operational in 2030, to include a market of 1.2 billion people with a GDP of $2.5 trillion.
The African Export-Import Bank is also developing a system that will enable the transfer of funds between African countries instead of settling payments through US and European banks, an initiative that is expected to save the continent $5 billion in annual transaction costs.
“We have no choice but to make the African Continental Free Trade Area (AfCFTA) operational as soon as possible. ”
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The AfDB's infrastructure focus will help implement the AfCFTA, a $2.5 trillion market with 1.2 billion people, by 2030.

Egypt is promoting energy sector investments by offering incentives and allowing private sector participation.

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Content: ECONOMY
Mulla: International partnerships in Africa will enable technology transfer and connect local partners
Thank you for reading the news about Al Mulla: International partnerships in Africa will enable technology transfer and connect local partners.
Minister of Petroleum and Mineral Resources Tarek El-Molla said that talking about the exploitation of energy in the African continent should include energy of all kinds and integration, especially as the African continent has various natural resources that can be exploited to diversify the appropriate energy mix that meets the needs of the continent's peoples while reducing emissions.
This came during the session “Moving Forward in Support of Low-Carbon Development Pathways in Africa and Developing Countries ” during the Day of Decarbonization at the Cop27 Climate Summit.
With regard to the development of the energy sector in African countries, the minister pointed to the Egyptian experience in transforming the challenges of the energy sector over 7 years into success stories based on the state ’ s provision of the appropriate investment climate to attract new investments and build confidence in investment in Egypt with international partners, which led to balanced partnerships with international energy partners.
He added that international partnerships in Africa will allow the transfer of technology and link local partners to it, stressing the importance of building a good work system in all fields such as oil, gas, electricity and renewable energy.
He pointed to the importance of African countries providing incentives to partners because some policies do not include the necessary incentives to attract investments and we must attract them to our countries and allow the participation of the private sector, Al-Mulla concluded that there are great challenges but we have the advantages in Africa to build our future through cooperation and partnership to prosper the continent.
African Development Bank President Akinwumi Adesina praised the Egyptian effort in organizing the conference, pointing out that the African Bank is committed to providing $5 million in new and renewable energy projects where Africa owns 45% of the renewable energy in the world, which makes it eligible to establish giant solar energy projects. He cited the experience of Kenya, where we managed to attract large investments of up to 21 billion dollars in the field of energy, whether oil, gas or new and renewable energy in a short time because we paved the way and worked to change policies and renewable energy represents 85% of the investments in the field of energy and we also use natural gas.
Egyptian industries are promising industries that can catch up with China, but they need to increase funding and encourage investment, and we should focus on the African market in directing industrial activities to achieve the best use of natural resources, especially relying on clean energy.
Helmet von Stroff, CEO of Siemens Middle East, said that this year ’ s conference provided an opportunity to discuss challenges and opportunities towards decarbonization and finding sustainable solutions, stressing the importance of supporting African countries towards a low-carbon economy and providing the necessary technical support, especially for developing countries.
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Which African countries are driving the venture capital ecosystem?

The African Export-Import Bank is developing a system to transfer funds between African countries, aiming to save $5 billion in annual transaction costs.

In-demand skills for African business administration graduates include software development, crucial for sectors attracting significant foreign investment.

A lack of management skills in many African jurisdictions constrains business development.

Title:

Content: The evolution of African legal services

By Carrie Davies

With Africa being a diverse place where no two countries run the same Carrie Davies, Gowling WLG discusses the evolution of the African legal services.

In many parts of Africa, increasing commercial investment, combined with major infrastructure and natural resource-focused developments, have supported the growth of the legal services sector. The speed of development, as well as its multidimensional nature, means that investors and governments increasingly demand complex legal and professional support. Ensuring delivery of advice in an efficient and holistic manner, however, comes down to more than technical legal skills.  Successfully co-ordinating the advice, and the legal advisors involved in giving it, requires excellent management skills.

The legal services sector in the UK has been relatively slow to recognise the importance of management skills in the profession, but a number of law schools are now incorporating management training as a core part of their programmes. This is a direct response both to client demands on firms, and to the requirements of running law firms themselves, in today's fast-paced commercial environment.

Increasingly complex transactions mean that lawyers are expected to go beyond providing technical legal advice, to working alongside clients in various aspects of their businesses. This includes co-ordinating the inputs of other professional services into deals, and demonstrating a comprehensive appreciation of wider macro-economic or industry-specific factors that have a bearing on any legal work. Managers at client businesses expect to be able to engage with their legal advisers on various levels, and for lawyers understand commercial, as well as purely legal, issues.

New entrants into the legal services sector are challenging the traditional structure of law firms. This is resulting in law firms needing to expand their service offerings. Firms are also beginning to recognise that promoting those who are technical experts, or consummate rain-makers, does not necessarily equate to promoting those who are best equipped to develop teams and manage the business of a firm.

In the UK, some firms have been relatively slow to acknowledge the importance of management skills for lawyers. The traditional nature of legal practice means that there is sometimes resistance, particularly among more established lawyers, whose careers have focussed on developing detailed technical knowledge of their particular practice area. This means that there are opportunities for those firms, and individual lawyers, who can combine legal and management skills.

In many jurisdictions in Africa, lack of management skills is a major constraint to business development. For forward-thinking African lawyers looking to differentiate themselves and grow their practice, combining technical expertise and management capability will set them apart.

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One way in which firms in Africa might consider developing the lawyer-manager of the future is engaging with law schools to include management training in law programmes. By incorporating management skills as part of an overall training package, these become embedded as a core competency, rather than a 'nice to have', by the time junior lawyers qualify and begin practicing.  This will benefit firms themselves, and their clients.

Training is only part of the solution, however. Experience in the UK shows that lawyers who want to develop their management skills benefit from a range of opportunities requiring them to step out of their technical, legal, comfort zones. This might take the form of client secondments that allow legal professionals to get under the skin of an industry, as well as to develop a closer relationship with a particular client, or pro-bono work that allows junior lawyers to manage a particular matter or case, and thus develop their skills. At the same time, firms might consider adapting their motivation and reward structures to take account of the changing needs of the market. Finally, taking advantage of the offering of training from international partner firms is vital as this can include opportunities for exchange visits; co-working is a great way to develop lawyer-managers, as it offers new scenarios that challenge and strengthen fee earner skills sets.

Law firms in Africa can derive opportunity from clients' challenges that arise from lack of skilled managers. By providing the skills of lawyer-managers, firms have a unique opportunity to get alongside clients and become trusted advisers, securing a lasting and mutually beneficial relationship. This may require lawyers to reconsider their traditional roles, but there are long-term benefits for firms, clients and the lawyers themselves.

For more information on business topics in the Middle East and Africa, please take a look at the latest edition of Business Chief MEA.

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Combining technical expertise and management capability will set African lawyers apart and help them grow their practice.

Incorporating management skills into law programmes will benefit firms and their clients.

The Western Cape is considered one of the most exciting places in the country to do business, with many opportunities for foreign investment and growth.

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Henley Business School set to open up Cape Town campus

World-famous business school, Henley Business School, which has been active in Johannesburg for 30 years, is set to open its doors in Cape Town in one of the city's most creative business hubs - a move which will boost skills development and the local economy.
Image by Michi S from Pixabay

The school will offer four of its accredited qualifications, three at undergraduate level, and its honours-level Postgraduate Diploma in Management Practice, from its new Brickfield campus in Woodstock. The new campus will also host the school’s executive education and customised programmes for its Cape Town-based corporate clients.

Welcoming Henley’s decision to open a Cape Town campus, Wrenelle Stander, the CEO of Wesgro, the official trade and investment promotion agency for Cape Town and the Western Cape, said the move is a positive addition to the talent landscape in the province.

“Henley’s international alumni network is well-recognised and powerful, and we anticipate our business community leveraging this as they grow their organisations and the Western Cape economy. We look forward to Henley’s faculty, students and alumni contributing to constructive conversations at a provincial level,” Stander said.

The dearth of skilled workers and professionals has long been identified as a major constraint to growing SA’s economy and reducing the unemployment rate.

Among other goals, the National Development Plan (NDP), a long-term plan articulating the country’s vision to eliminate poverty and reduce inequality by 2030, targets increasing the number of university enrolments as part of efforts to boost SA’s skills base.

Boosting skills development

Business schools are expected to play a central role particularly in terms of boosting leadership and management skills, key to the success of any organisation.

There are some 22 local schools in SA offering Masters in Business Administration programmes (MBAs) — the world's best known and most widely recognised management education qualification—with the University of Cape Town Graduate School of Business and the Stellenbosch University’s Business School (USB) being the most notable in the Western Cape.

While Henley has no immediate plans to offer a fully-fledged MBA progamme at its Cape Town campus, it says there will be support available to its MBA students based in the city – but they will be officially registered with the Johannesburg campus. Most of the MBA work is done remotely but there are in-person sessions and these are held in Johannesburg.

“Cape Town is South Africa’s innovation capital and one of the most exciting places in the country to be doing business – and thinking differently about how to do business that builds the country. At Henley Africa, we are eager to be a part of this energy. And as the country’s fastest growing and only international business school, we know Henley has a lot to offer the mother city,” said Jon Foster-Pedley, dean and director of Henley Africa.

Henley’s own research indicates that an estimated 36% of senior managers in the public sector did not have the required-level of qualification for their position in 2021, and in the Western Cape, on average, just 29% of managers working across all industries have some form of management qualification. “We simply have to get these numbers up and we want to make it as easy and accessible as possible for more South Africans to rise through the academic ranks,” Foster-Pedley said.

Rashika Padarath, head of Henley’s degree-level management development programme, said the flexibility and structure of the schools’ programmes could give thousands of working people “who may lack the formal qualifications or the luxury of time to study at business school the skills and confidence to manage and lead themselves and others well.”

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Africa received $46 billion in foreign direct investment in 2020, mainly in Egypt, South Africa, and Morocco.

Africa received $46 billion in foreign direct investment in 2020, mainly in Egypt, South Africa, and Morocco.

Africa received $46 billion in foreign direct investment in 2020, mainly in Egypt, South Africa, and Morocco.

Most foreign investment in Africa has gone to energy and infrastructure, with companies like Total, Enel, and Siemens investing in countries like Nigeria, Egypt, and South Africa.

Which African countries are driving the venture capital ecosystem?

Which African countries are driving the venture capital ecosystem?

African entities have formed partnerships with foreign companies to promote regional investment and trade.

Which countries are actively investing in Africa besides China?

Which countries are actively investing in Africa besides China?

Business administration graduates can find job opportunities in finance, human resources, and marketing with major foreign and African companies.

The African Development Bank's African Development Fund supports business administration graduate development in Africa, allocating $1.2 billion to support education and entrepreneurship.

The Mastercard Foundation's Young Africa Works initiative aims to enable 30 million young Africans to access dignified work by 2030, supporting business administration graduates through scholarships, mentorship, and job placement services.

Economic growth in sectors like agriculture, manufacturing, and services will drive growth and create jobs for business administration graduates.

The agriculture sector is expected to create over 1 million jobs by 2025, with business administration graduates able to position themselves for roles by acquiring skills in agricultural finance, supply chain management, and marketing.

Foreign investment in manufacturing has increased in recent years, with companies like Volkswagen and Toyota setting up in countries like South Africa and Nigeria.

Title:

Content: Japan, Korea and India experience to expand Africa, Taiwan and Africa entrepreneurs association
The “Taiwan-Africa Entrepreneurs Association ”, commissioned by the International Trade Bureau of the Ministry of Economic Affairs, attracted more than 130 enterprises interested in exploring the African market. The exhibition and consultation desk at the representative office showed that our company's desire to expand the African market is very hot.
The theme of the event was “The Key to Success for Foreign Investors (Japan, Korea and India) in Expanding Africa ”. The event was addressed by Wang Ximeng, Secretary General of the Foreign Trade Association, Liu William, Deputy Director of the Bureau of International Trade of the Ministry of Economic Affairs, Msibi, Ambassador of the Kingdom of Swaziland, and Chen Shu-fang, President of the Association of Taiwan Commerce. In addition, Hung Sheng Packaging General Manager Tang Jung-hung, Yi Ho Industrial General Manager Fu Yang-li, and Nam Wei Industrial Strategy Director Yang Wei-han analyze the development opportunities in Africa from their practical experience in the packaging, building materials, and textile industries.
Wang Ximeng, secretary general of the Foreign Trade Association, pointed out that in addition to the competition between Europe, America and China over the layout of the African continent, Japan, South Korea, India and other countries in Asia are committed to increasing investment and economic cooperation in Africa.
There are more than 1.3 million people of Indian descent in Africa, such as in East Africa, where more than 60% of the economic lifeline is controlled by Indians.
In addition, 18 of India's 25 newly established embassies and consulates are located in Africa, and India has become the fifth largest investor in Africa, while Japanese automobile manufacturers Toyota, Nissan, and electrical appliance giant Toshiba have already planted flags in Africa; South Korea's Hyundai, Samsung, LG and other large enterprises have also been stationed in Africa.
Through this event, we hope to help our business people to learn from foreign companies such as Japan, Korea and India, as well as African market leaders, and shorten the path to enter the African market.
Liu, deputy director of the International Trade Bureau, said that in recent years, the global economy has continued to be volatile due to changes in the international situation such as Sino-US trade frictions, global inflation, and the Russian-Ukrainian war, but Africa has shown great resilience during this period.
In addition, foreign direct investment in Africa reached US $45 billion in 2022, which has returned to the pre-epidemic level, indicating that confidence in investment in Africa has gradually recovered. In 2022, the total import and export value of Africa reached a new high in recent years, with imports reaching US $694.5 billion, up 14%, and exports reaching US $661.4 billion, up 19%. It is hoped that through the activities of the association, upstream and downstream companies in various industries can learn from each other and share their experiences, and work together to promote Taiwan-Africa economic and trade relations.
The event will be held in conjunction with AGOA, a major textile manufacturer in South China, and the representative offices of African embassies in Taiwan, Africa-related associations, and import and export banks providing trade and financial services. For more information, please visit africa.taiwantrade.com for more information.

Which countries are preferred FDI destinations in Africa?

Which sectors received the most foreign investment?

Business administration graduates should acquire skills in data analysis, digital marketing, and entrepreneurship to succeed in African business sectors.

Microsoft is among major foreign companies that have invested in Africa, launching initiatives to support entrepreneurship and innovation.

Microsoft is among major foreign companies that have invested in Africa, launching initiatives to support entrepreneurship and innovation.

Microsoft is among major foreign companies that have invested in Africa, launching initiatives to support entrepreneurship and innovation.

West Africa, especially Nigeria and Ghana, and East Africa, especially Kenya and Ethiopia, have received the most foreign investment in recent years.

Most foreign investment has gone to manufacturing and services, with significant investment also in agriculture and energy.

Which sectors received the most foreign investment?

Which sectors received the most foreign investment?

Business administration graduates with necessary skills and knowledge will be well-positioned for job opportunities in Africa's growing economy.


The Little Mermaid statue in Copenhagen has been targeted several times since its 1913 installation.

The head of the nymph was stolen in 1964 and never recovered.

The statue's hand was cut off in 1984 in an act of vandalism.

The statue was decapitated again in 1998, but later restored.

The statue was blown up in 2003 and fell into the bay.

The statue has been targeted with graffiti or paint several times, including being doused in red paint in 2017 to protest whale hunting.

In 2020, "racist fish" was painted on the statue's base, despite scholars finding no racist elements in the fairy tale.

In 2023, the statue's base was vandalized with a Russian flag, seen as support for Russia in the Ukrainian conflict.

Copenhagen police are investigating the 2023 vandalism incident to find evidence and the perpetrator.

The motivations behind vandalism of the Little Mermaid statue vary, often relating to broader social and political contexts.

The Little Mermaid statue's repeated vandalism highlights the need for increased security and understanding of the motivations behind such acts.

The story behind each vandalism incident against the Little Mermaid statue is complex and multifaceted.

The Copenhagen police are investigating, but the search results lack details on measures taken to prevent future vandalism of the Little Mermaid statue.

The statue continues to be targeted, with the most recent incident in 2023, indicating current measures are insufficient to deter vandals.

The Little Mermaid statue remains a vulnerable target for vandals due to a lack of information on the effectiveness of security measures.

The search results do not reveal any new measures to protect the statue from future vandalism.

The Little Mermaid statue in Copenhagen has been targeted several times since its 1913 installation.

Title:

Content: Unknown people draw Russian flag on a statue of a mermaid in Copenhagen
COPENHAGEN (AFP) - The iconic Little Mermaid statue in the Danish capital Copenhagen was vandalized on Wednesday night as unidentified people painted the Russian flag on its base.
Announcement
An AFP correspondent reported that the Russian flag was painted under unknown circumstances on the stone above which a statue of the Little Mermaid, inspired by the heroine of one of the stories of the writer Hans Christian Andersen, was installed.
Danish police said they were launching an investigation into the incident, without giving any indication of the source of the move, which shows clear support for Russia amid the ongoing war in Ukraine.
A Copenhagen police spokesman told AFP: "We are investigating the area in order to find any evidence."
A small number of tourists in the area took pictures of the statue in the port of Copenhagen, which was vandalized on Thursday morning.
The Little Mermaid statue on a largely unfrequented promenade has been targeted several times since it was installed in 1913.
In 1964, the head of the nymph was stolen for the first time without being recovered.
In 1998, a group of vandals cut off the head of the statue again, but it was later restored.
This monument was exposed to the explosion in 2003.
The statue, created by Danish sculptor Edvard Eriksen, has also been targeted several times with graffiti or graffiti, most recently in 2020 with the inscription “racist fish ”.

The head of the nymph was stolen in 1964 and never recovered.

The statue's hand was cut off in 1984 in an act of vandalism.

Title:

Content: Danish police investigate who “spoiled ” the famous monument to the Little Mermaid with the colors of the Russian flag
03.03.2023, 7: 15, Misc
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On the pedestal of the famous statue of the Little Mermaid in Copenhagen, a Russian tricolor appeared, says The Guardian.
The Danish police have launched an investigation into such an “act of vandalism ”, which is perceived as a sign of support in the Ukrainian conflict.
AP
In Copenhagen, unknown people painted the foundation of the statue of the Mermaid in Copenhagen in the colors of the Russian flag, writes The Guardian.
According to the publication, the tricolor appeared on Thursday night on the stone, which serves as a pedestal for the famous Danish monument.
The police in Copenhagen said that law enforcement officers visited the crime scene and registered an “act of vandalism ”.
The police began an investigation and are trying to find “evidence ”.
The actions of unknown persons are perceived as a sign of support for the Kremlin in the Ukrainian conflict.
The article notes that the statue of the Little Mermaid weighing 175 kg was created by sculptor Edward Eriksen, who was inspired by the main character of the fairy tale of the same name by Hans Christian Andersen.
The monument suffered from vandals many times: in 1964 her head was stolen, in 1984 her hand was cut off, in 1998 her head was stolen again, but later returned, and in 2003 the statue was blown up.
In addition, the Little Mermaid has been painted or signed many times.
The last time it happened in 2020, when it appeared the mysterious inscription “Racist fish ”, writes The Guardian.
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The statue was decapitated again in 1998, but later restored.

The statue was blown up in 2003 and fell into the bay.

Title:

Content: Russian Flag Painted on Copenhagen's Most Famous Landmark

It's the latest in a long line of attacks on Little Mermaid statue
By Rob Quinn,  Newser Staff
Posted Mar 2, 2023 10:15 AM CST

The Little Mermaid statue in Copenhagen, one of Denmark's most famous landmarks, has been vandalized yet again, this time with the Russian flag. Authorities said Thursday that the white, blue, and red stripes of the Russian flag were painted on the stone the statue sits on, Reuters reports. Police said the vandalism was discovered early Thursday. "We are of course launching an investigation to find out who did it and when and how it happened," a police spokesman said, per Jyllands-Posten.

Denmark, like other European nations, has strongly criticized Russia's war against Ukraine. The small statue, a tribute to the Hans Christian Andersen fairy tale, sits off a waterfront promenade in the Danish capital. It has been vandalized many times since it was installed 110 years ago, AFP reports. It has been decapitated twice and was knocked off its base with explosives in 2003. In 2017, it was doused in red paint in a protest against whale hunting. In 2020, during worldwide protests after the death of George Floyd, the words "racist fish" were painted on the base, though Andersen scholars said they weren't aware of any racist elements in the fairy tale. (Read more The Little Mermaid stories.)

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The statue has been targeted with graffiti or paint several times, including being doused in red paint in 2017 to protest whale hunting.

In 2020, "racist fish" was painted on the statue's base, despite scholars finding no racist elements in the fairy tale.

In 2023, the statue's base was vandalized with a Russian flag, seen as support for Russia in the Ukrainian conflict.

Copenhagen police are investigating the 2023 vandalism incident to find evidence and the perpetrator.

The motivations behind vandalism of the Little Mermaid statue vary, often relating to broader social and political contexts.

The Little Mermaid statue's repeated vandalism highlights the need for increased security and understanding of the motivations behind such acts.

The story behind each vandalism incident against the Little Mermaid statue is complex and multifaceted.

The Copenhagen police are investigating, but the search results lack details on measures taken to prevent future vandalism of the Little Mermaid statue.

The statue continues to be targeted, with the most recent incident in 2023, indicating current measures are insufficient to deter vandals.

The Little Mermaid statue remains a vulnerable target for vandals due to a lack of information on the effectiveness of security measures.

The search results do not reveal any new measures to protect the statue from future vandalism.