Due to our focus on a emerging markets, and our range of portfolio companies that are located in Africa, we have a vested interest in the progress and success of African markets. Here are some of the stories that caught our attention regarding investment in African development.
Africa: Why Addis Still Matters More Than Davos by Liesl Louw-Vaudran in AllAfrica.com
Over the last few weeks delegations have meet in Davos, Switzerland, at the World Economic Forum (WEF), as well as in Addis Ababa, Ethiopia, at the African Union Summit. While African nations were not absent from the WEF, there was a clear separation between the goals of African businesses and the willingness of investors. There are many reasons for a lack of foreign investment including the obstacles of conflict and politics. The African Union Summit is focusing on these internal problems in order to take preventative and restorative actions toward stability.
What does IBM’s $100 million Project Lucy really mean for Africa? on IT News Africa
IBM has launched its $100 million project to bring Watson, a cloud-based development platform, to Africa. This investment will include a pan-African Center of Excellence for Data-Driven Development (CEDD), which will leverage data to develop commercially-viable solutions in key areas. University of Lagos Professor Rahamon Bello explains, “[For African development] we need comprehensive investments in science and technology that are well integrated with economic planning and aligned to the African landscape.”
In an address to the African Union, chair Nkosazana Dlamini-Zuma outlined her vision of the continent over the next 50 years. Including high-speed railways, a common language, and diplomatic clout, Dlamini-Zuma expressed the ways in which the continent can develop in the next few decades. By pooling resources and working toward collective goals, the future of Africa is bright. Dlamini-Zuma also expressed interest in establishing Africa as a leader in renewable energy, including hydro, solar, wind, and geothermal energy. All these goals will require heavy investment from the private sector, which impact investing contributes to significantly in Africa.