Beverly Chandler, Opalesque London:
Sub-Saharan Africa trades more with Asia than with any other region, and economic ties between the two continents will become even closer over the coming years according to a new report, Asian Investment In Africa: The Next Phase from Business Monitor International.
The firm writes that while Asian demand for African resources is a key driver of increasing trade, so are booming African imports of capital goods and consumer products. "Although we expect economic growth to slow in Asia, particularly in China, we believe that Africa's rapid growth trajectory will be maintained. The continent's recent growth has not merely been the result of a Chinese-driven commodity boom, but rather represents a structural improvement in Africa's economic fundamentals."
The report draws on the experience of country risk and industry analysts from eight different sectors – agribusiness, automotives, food and drink, infrastructure, mining, oil and gas, power, and telecommunications – arriving at an in-depth view of how trade between the two continents is affecting a variety of industries. Beyond the economically crucial relationship between China and Africa, the report also looks at Indian, Japanese, and South East Asian investment into the continent.
Key topics covered in the report include: