Investors are still said to be betting on the future of Africa as a big emerging market opportunity despite the declining commodity prices and the outbreak of Ebola, it has been learnt.
According to a latest online report carried by Mining.Com, not so long ago, declining commodity prices and the Ebola outbreak would have triggered a firesale of interest in Africa.
But while this effect is evident to a certain extent, investors are still staking on the continent as a big emerging market opportunity, says the report.
A survey of Africa’s investment attractiveness says: “72 per cent of those surveyed had improved optimism partly because Africa’s economy is becoming more diversified, and weighted towards more consumer facing services.”
Commenting on the issue, Johan Steyn, portfolio manager at Prescient Africa Equity Fund is quoted as saying, “There is steep competition for foreign direct investment as China has played a key role in development for the last 15 years.”