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Friday, 08 January 2016

The French are stepping up their investment in Africa

Gone are the days of the “poor relation”, the “great forgotten” of the global economy. Africa’s image is now that of a continent which is moving forward rapidly. According to the report “Une Afrique des Afriques” published in December by the consulting firm BearingPoint, French investment in Africa is expected to grow by 75% over the next 10 years. By 2020, the companies that have not made their African transition “will be lagging behind,” according to the consulting firm. As emphasised at the beginning of the report, the wealth of the country in which they operate is not a decisive factor for French companies. Alongside solid African economies such as Algeria, Nigeria and South Africa, emerging powers such as Côte d’Ivoire, Senegal and even Kenya have the wind in their sails. Among the 11 countries with the strongest French presence, two even have a per capita GDP below the African average, which passed the 1,000 dollars mark in 2013: Niger and the Democratic Republic of the Congo. On the other hand, some economically robust States, such as Angola and Egypt, are not attracting much interest from French companies. The latter seem to be more influenced by linguistic ties, since seven of the 11 countries listed are French-speaking.

Source: Le Monde