AfDB Encourages Portugal to Invest in Africa

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Image Credit: ghanatalksbusiness.com

Africa Development Bank (AfDB) President encouraged Portuguese investors to invest in Africa stating that the continent is now the place to be.

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Mr Akinwumi Adesina was talking to businessmen and representative of the Portuguese private sector.

“We need your vast experience, your knowledge of the field and your expertise, especially in public-private partnerships to increase our chances of achieving our five priorities and accelerate the development of the African continent,” Adesina is quoted on AfDB website.

Minister of Finance and AfDB Governor for Portugal Mario Centeno is also quoted;

“Africa is at top of Portugal’s bilateral and multilateral engagement, and AfDB is at the forefront of that engagement. This augurs well for the strengthening of our successful partnership, which has existed since December 1983”.

There are a lot of investment opportunities in Africa as it is still developing and the following are areas to check.

Investment opportunities in Africa exist in mining as it is estimated that the continent contains 30 percent of the world’s mineral resources, including bauxite, cobalt, copper, gold, graphite, iron ore, manganese, nickel, phosphate, platinum and many other rare metals and elements according to VenturesAfrica.com.

Africa has 60 percent of the world’s uncultivated land while the continent is only responsible for 10% of the globe’s agricultural produce according to Africa.com website and this makes it lucrative for investors.

Development is on the rise in Africa as industrial development increase with the growth of urbanization making an investment in infrastructure profitable. Adesina was on a two-day visit to Lisbon the capital city of Portugal from 13- 14 November 2017 at the invitation of the Portuguese authorities. Also in attendance was Portugal’s State Secretary in charge of Foreign Affairs and Cooperation.

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