Investing in Africa stands better chance of paying higher returns – UN official

A senior UN official has assured Norwegian investors that their investments in Africa stands better chance of paying higher returns than in any other parts of the world.

Addressing the inaugural session of the Norwegian-African Business Association (NABA) in Oslo, Norway, Dr. Adeyemi Dipeolu, Chief of Staff at the UN Economic Commission for Africa (ECA) explained the positive trend with improved economic conditions and better governance initiated and sustained by African governments, although the international aid environment has also been favourable to Africa, according to a statement from the Information and Communications Service of ECA.

“Norway can tap into and benefit from Africa’s rapidly improving economic prospects while African countries can attract foreign direct investment flows from Norway and also learn first-hand about its transparent and efficient management of natural resources,” said Dr. Dipeolu.

Dr Dipeolu cited recent reports by the G20 and various world-class strategy firms showing that Africa is on the growth course despite the fact that the rest of the world’s economy has continued to record negative growth since the economic downturn in 2008.

He noted that the positive contribution of the international community forms the basis for sustainable growth from which foreign investments can only benefit.

By Ekow Quandzie