Africa’s U$3.4 trillion market beckons for US
Ogone Tlhage
The United States is turning its attention to Africa, particularly Namibia, as the continent’s rapid infrastructure development presents lucrative opportunities for foreign investors.
According to Angelique Peake, RMB Namibia’s Sector Head for Oil and Gas, Namibia’s strategic position and stable logistics corridors make it an attractive destination for US capital.
“Africa is growing, Europe is shrinking, and from an economic perspective, there is an enormous amount of growth and opportunity in Africa. You must understand that the world is seeing that Africa is growing, that Africa is massive. I mean, they’re talking about 1.3 to 1.4 billion people and a US$3.4 trillion economy, and that presents a massive opportunity,” said Peake.
The hosting of the summit on two separate occasions on the African continent also reflects the level of interest the US currently has in Africa, Peake explained. “This summit, which started a few years ago - there’s been one in Botswana, one in the States, and they want to do the next one perhaps in Mauritius next year - is all about Americans coming here and being exposed to what the opportunity set looks like. Where there is stability, where there is a good logistics corridor, because naturally that helps with investment, and how they can invest,” she said.
According to Peake, the US is particularly keen to invest in logistics infrastructure, given the planned projects in Angola, Botswana, Namibia and Zambia that are focused on developing key transport corridors.
“The message was clear: the Americans are keen to come to Namibia, or to Africa as a whole. As Africa expands its logistics corridors with developments like the Lobito Corridor, and our own corridors into Zambia, Botswana and the north, the ability to move goods and people more efficiently is an added benefit,” she said.
Namibia, she added, is in a strong position to attract this wave of US investment.
“It’s a really interesting game at the moment, with the Americans looking to invest in Africa and seeking new opportunities. For Namibia, we already have many different industries where there is potential for economic growth. With the ongoing global energy transition, there are even more opportunities for investment and we’re already seeing that happening in the country,” said Peake.
The United States is turning its attention to Africa, particularly Namibia, as the continent’s rapid infrastructure development presents lucrative opportunities for foreign investors.
According to Angelique Peake, RMB Namibia’s Sector Head for Oil and Gas, Namibia’s strategic position and stable logistics corridors make it an attractive destination for US capital.
“Africa is growing, Europe is shrinking, and from an economic perspective, there is an enormous amount of growth and opportunity in Africa. You must understand that the world is seeing that Africa is growing, that Africa is massive. I mean, they’re talking about 1.3 to 1.4 billion people and a US$3.4 trillion economy, and that presents a massive opportunity,” said Peake.
The hosting of the summit on two separate occasions on the African continent also reflects the level of interest the US currently has in Africa, Peake explained. “This summit, which started a few years ago - there’s been one in Botswana, one in the States, and they want to do the next one perhaps in Mauritius next year - is all about Americans coming here and being exposed to what the opportunity set looks like. Where there is stability, where there is a good logistics corridor, because naturally that helps with investment, and how they can invest,” she said.
According to Peake, the US is particularly keen to invest in logistics infrastructure, given the planned projects in Angola, Botswana, Namibia and Zambia that are focused on developing key transport corridors.
“The message was clear: the Americans are keen to come to Namibia, or to Africa as a whole. As Africa expands its logistics corridors with developments like the Lobito Corridor, and our own corridors into Zambia, Botswana and the north, the ability to move goods and people more efficiently is an added benefit,” she said.
Namibia, she added, is in a strong position to attract this wave of US investment.
“It’s a really interesting game at the moment, with the Americans looking to invest in Africa and seeking new opportunities. For Namibia, we already have many different industries where there is potential for economic growth. With the ongoing global energy transition, there are even more opportunities for investment and we’re already seeing that happening in the country,” said Peake.
