Nigeria, Ethiopia top African investment index

Nigeria and Ethiopia topped a new index of African potential investor destinations on Wednesday, with the survey organisers saying the continent offers good potential growth even against the global economic crisis.

The world‘s poorest continent had seen an investment boom in recent years, but flows into the region are seen drying up as the global financial crisis and falling commodity prices take the shine off what were seen as promising frontier markets.

Business consultancy, African Rainbow‘s Star of Africa index ranks 53 African countries in terms of their investment potential in various fields, with its creators arguing that potential growth in energy, water and communications consumption could amply reward investors taking the risk, Reuters reported on Wednesday.

”It is for investors to make sure they don‘t miss a trick by overlooking a country they would otherwise have missed,” Chief Executive of African, Rainbow, Katharine Pulvermacher, said.

”Africa is going to overtake the Middle East to become the second fastest growing region in the world after emerging Asia. It will be affected by the global financial crisis but it is much less exposed than many places,” she added.

Comment: The global financial meltdown may turn out to be a blessing in disguise for Nigeria. What is needed is for the Government to put in place the right infrastructure, then watch Nigeria become biblical Canaan, flowing with milk and honey. Ndudi Osakwe, IBG Nigeria.

Source: http://www.punchontheweb.com

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