Africa: An Economic Giant? – Part 1

Dear reader

recently, in connection with our monthly newsletter (subscribe now), I published an article, reflecting in brief statements which haven been made by popstar and Africa-activist Bob Geldof.

During the coming days (and/or weeks) I will present you a few more in-depth thoughts on the topic “Africa – an economic giant?”, reflecting five statements. Today I start with statement one.

1. Statement

Europe and the US are considering Africa to be a case for continuous help and support; media are establishing the image of an infantile foster child who needs help.

Why is Europe not noticing the economic opportunities?

My answer:
The situation is certainly not as extreme as stated above. A company such as Swiss-based Nestlé, for instance, has been investing heavily in Africa, and has focussed on Africa for a long time. European, North American and Brazilian companies have been and are investing in oil and minerals.

(click to enlarge)

Leading shipping companies, such as Maersk Lines of Copenhagen, Denmark (World’s No 1 in container shipping) are heavily involved, non-the-least though its South African subsidiary Safmarine, and so on. Commercial ties between Africa and Europe as well as the US are stronger than ever.

Kind regards,
Peter Lorange

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