Doing Business in Sub-Saharan Africa

The event organized with the cooperation of the Commercial and Industrial Chamber of Greece (EΒΕΑ) responds to the need for an outward looking of Greek entrepreneurs. Africa, a great neighboring continent provides horizons for a strong demand of products and services, which is important now when domestic demand has subsided.

We are late. Other countries from China to Turkey have expanded dramatically trade and investment in the continent which will become the leading actor during this century.

Sub-Saharan Africa is growing by an average of 5% a year and has become the fastest growing region in the world. In 2012 the GDP rose by 4.8% whereas in the European Union it declined by 0.2%. But there is progress also in other areas connected with development: Peace, Democracy, and Governance.

Armed conflicts and civil wars are now rare, although in some areas pockets of civil unrest are due to growing inequalities, unemployment and religious fanaticism. While elections is not necessarily equal to democracy one third of the 120 elections since 200 led to transfer of power. The African Union does not tolerate coups d’etat.

The population of Sub Saharan Africa is growing fast. In 2050 ¼ of the population of our planet will be African. Nigeria in 35 years from 170 million will have 440 million people and Ethiopia from 92 will reach 190 according to projections.

But in addition to the working force and the mass of consumers the region has a vast unutilized land ( 60% of uncultivated land of the planet is found in Africa) and unexploited energy sources, minerals etc.( only 5% of hydroelectric capacity is used). Important reserves ( e.g.South Africa has 90% of world platinum Botswana 22% of diamonds)etc. Tourism can expand, the prospects are very favorable. There are business opportunities also in sectors such as infrastructure,, especially road and ports construction, housing and, most important, energy. The bottlenecks in electrical energy ! The whole of Africa has the electrical capacity of Germany. There is urgent need for investment. The same is in services e.g. engineering, health, education and high technology.

The Hellenic African Chamber was established 15 years ago expecting these developments wishing to incite Greek business to become interested in Africa and promote Greek African economic relations…...

In the near future we will organize more meetings and we will present profiles of other countries of Africa.