Obama should follow UK's lead on investment in Africa
Jamie Allsopp (pictured), Fund Manager at Insparo Asset Management believes US president Barack Obama should follow the UK’s lead on investment in Africa…
You don’t have to be an expert to realise Africa has extraordinary investment potential. Africa receives far less foreign direct investment than China or India and over the last year investment from developed markets actually fell. Driven by the thriving Africa funds sector in London the UK was alone in this group, increasing investments by 9% during 2012. The US and France reduced the value of their investments on a yearly basis.
Investment in infrastructure from China and the US is helpful but what will be key is the continuation of intra Africa trade which has been growing at 33% a year since 2007. There are one billion people on the continent and investment in small and medium sized companies that cater for their needs is where we at Insparo concentrate our focus.
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