Reuters Africa Investment Summit

Reuters Africa Investment Summit discusses the future of business in Africa

More than 29 of sub-Saharan Africa’s most important politicians, CEOs and dealmakers spoke exclusively to Reuters during closed sessions in Johannesburg, Nairobi and Lagos last week for the annual Reuters Africa Investment Summit, giving our clients critical insight into one the world’s fastest growing regions and an increasingly important investment destination.

For a summary recap report of the 2013 Reuters Africa Investment Summit, click here. Highlights of the Summit included interviews with Zimbabwean Finance Minister Tendai Biti, South African Finance Minister Pravin Gordhan, Nigeria Central Bank Governor Lamido Sanusi, MTN Group CEO Sifiso Dabengwa, Standard Chartered Africa CEO Diana Layfield and more.

Zimbabwean Finance Minister BitiAfrica’s considerable opportunities and challenges were examined by African policy-makers and chief executives of companies operating in Africa, most who felt that although there are bumps in the road, the momentum is upward and investors will be rewarded if they stay the course. Few doubt that the Africa Rising narrative, which has grabbed the attention even of traditional skeptics, is based on solid fundamentals: growth outpacing most of the world, a rising young population of workers and consumers and global demand for the continent’s commodities. “I absolutely believe in a consistent upward trend,” said Diana Layfield, Chief Executive Officer for Africa of Standard Chartered, the London-listed bank which is investing $100 million in Africa to double its business in the next five years. But this bullish pitch for Africa, enthusiastically echoed by most participants at a Reuters Africa Investment Summit this week, comes accompanied with a caution that the continent remains a volatile, uneven and challenging place.

Some top stores from the Reuters Africa Investment Summit include: (more…)

Africa Summit: 21% subscriber growth achievable – MTN CEO

Sifiso Dabengwa, CEO of Africa’s dominant mobile phone company MTN, says he can continue to increase subscriber growth organically but is open to acquisitions.

Read more about the 2013 Reuters Africa Investment Summit.

Nigeria’s population – graphic of the day

In the time it takes to read this article, Nigeria will have added 50 people to its population, or about 11,000 a day. While Africa’s most populous nation has long had business leaders salivating over its potential, it’s not clear whether it can turn a growing population into a richer society with widespread higher living standards. Today’s graphic shows how Nigeria’s population has grown since 1960 and what it will look like in 2050. Follow all the news coming from the Reuters Africa Investment Summit here.

population

Africa Summit: Consumer-centric focus is key

Anything that touches the consumer is a core focus for Carlyle’s investment in Africa says Marlon Chigwende, Co-Head of the Group’s Sub-Saharan Fund.

Read more about the 2013 Reuters Africa Investment Summit.

Reuters Africa Investment Summit

REUTERS/Euroluftbild.de

After Africa’s rebound from the global economic crisis and the uprisings in North Africa, what are the risks and the opportunities of investing in the continent today?

Written off as a hopeless continent a little over a decade ago, Africa is now proving the pessimists wrong, as growing consumer spending and a rising middle class transform the region. The boom in several industries, particularly telecoms and banking, has drawn much attention from investors. But how sustainable is Africa’s rise? The world’s poorest continent still faces plenty of challenges: an over-reliance on commodity exports, woeful infrastructure and endemic corruption in many countries.

Africa’s considerable opportunities and challenges will be examined at the Reuters Africa Investment Summit on April 8-11, when during closed sessions Reuters reporters in Johannesburg, Nairobi and Lagos will be interviewing top newsmakers from across the continent. (more…)

Investing in Africa: opportunities and challenges

Sub-Saharan Africa will be home to 7 of the world’s 10 fastest growing economies in the next five years. U.S. Sen. Christopher Coons joins top African investment managers and business leaders before a live audience to identify key opportunities and ways to address risks, in a panel moderated by Editor-at-Large Sir Harold Evans.

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Reuters Africa Summit Highlights

More than 26 of sub-Saharan Africa’s most important politicians, CEOs and dealmakers spoke exclusively to Reuters for the annual Reuters Africa Investment Summit, giving Thomson Reuters clients critical insight into one the world’s fastest growing regions and an increasingly important investment destination.

The four-day Summit — held in Johannesburg, Nairobi and Lagos — underscored Reuters reach and influence in the region and has received wide play in a lot of the local and worldwide press.

Highlights of the Summit included the interview and newsmaker with Zimbabwe Empowerment Minister Saviour Kasukuwere, which was the hard work of MacDonald Dzirutwe in Harare. Kasukuwere even agreed to participate in Trading Africa, where he had a lively session for over an hour with nearly 100 financial clients. Thanks to Trading Africa Editor Japheth Munywoki and Deputy Editor Sureka Asbury for making that happen.

We also had some breaking news from James Macharia and Duncan Miriri in Nairobi, both on the politics and corp news side, as well as some great interviews from Chijioke Ohuocha, Tim Cocks and Joe Brock in Nigeria. The central bank governor told Joe that Nigeria’s 2012 budget allocation to pay fuel subsidies will run out before the end of the year, while Chiji’s interview with lender First Bank, which announced plans for a $500 mln bond later this year, forced BBG to pick up the news.

Tiisetso Motsoeneng’s interview with the PIC – Africa’s largest pension fund – got huge media play and was also mentioned by several private equity bankers during the Summit. Helen Nyambura’s interview with StanChart’s EMEA head forced South Africa’s biggest business daily to scramble for matcher.

We had interviews from Uganda, thanks to Tosin Sulaiman and Angola, thanks to Chico Laxmidas. Finally, there were some great theme stories from Ed Stoddard, Tiisetso, Helen and others.

The interviews were complemented by a raft of factboxes, charts, and theme stories examining the outlook for deals, the difficulties of doing business, and more.

The stories drew wide media play in the region and CNBC Africa brought in Senior Correspondent David Dolan for an interview about the Summit. The event received great global coverage, with pickups by some leading news media, websites and a variety of industry blogs, including BloombergCNBCThe GuardianFox BusinessChicago TribuneThe Economic TimesThe African StarEthioSunGulf NewsThe Zimbabwe MailBusiness LiveAll AfricaThe West AustralianInternational Business TimesThe StarZimOnlineBusiness DailyAll AfricaThe Africa ReportInteractive Investor and more. (more…)