Elevating the potential of the small-scale mining industry and spearheading&nbsp; diversification efforts in the mining sector, MIIF is transforming Ghana’s mineral wealth into economic growth.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“We are one of the fastest-growing soverign wealth funds in the world.” Edward Nana Yaw Koranteng, CEO of Minerals Income and Investment Fund (MIIF)
</blockquote>


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img loading="lazy" decoding="async" width="863" height="612" src="https://cms.forbesafrica.com/wp-content/uploads/2024/07/miif-logo-11591.png" alt="" class="wp-image-62400" style="width:422px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/07/miif-logo-11591.png 863w, https://cms.forbesafrica.com/wp-content/uploads/2024/07/miif-logo-11591-300x213.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/07/miif-logo-11591-768x545.png 768w" sizes="(max-width: 863px) 100vw, 863px" /></figure></div>


A s a sovereign minerals wealth fund, the Minerals Income and Investment Fund (MIIF) manages the Ghanaian government’s equity interest in mining companies and collects mineral royalties from all mining operations. Beyond the mine shafts of Ghana, the institution holds a profound pan-African vision &#8211; to unlock the full mining potential of the continent. “We are one of the fastest-growing sovereign wealth funds in the world,” says Edward Nana Yaw Koranteng, CEO of Minerals Income and Investment Fund (MIIF), a lawyer with an investment banking background that spans over 25 years. “In October 2021, we had about US$195 million in assets under management. We are now working north of US1.5 billion,” he notes.



Ghana’s small-scale mining industry contributes up to a staggering 40% of the nation’s gold output, surpassing the output of some established gold-producing countries in Africa, a sector the CEO says is often challenged by illegal mining activities. “Ghana’s small- scale gold mining sector employs more than 10% of the Ghanaian population, while large-scale mining employs just below 40,000 in total, which makes the formalization of the small-scale sector imperative,” says Koranteng. MIIF recently launched a small-scale gold mining incubation pilot program to support the formalization of the sector and convert small-scale mining entities into medium to large-scale businesses. The support focuses on corporate governance, provision of capital, a gold production traceability mechanism, and access to the market through the MIIF gold trade desk.



The institution is piloting its support program with 10 small- scale miners, developing the blueprint for a larger rollout. “The full implementation can triple the US$2.4 billion annual revenue from small- scale gold mining in Ghana,” says Koranteng. “Illegal mining slashes our small-scale mining revenue by 40%. The program will tackle this by formalizing the sector. With gold found in almost every region in Ghana, this small-scale focus can unlock nationwide development. It will be the most revolutionary support for artisanal mining in Africa’s history.”



In tandem with its resource development efforts, MIlF is implementing a robust strategy to nurture a skilled workforce within the mining industry. “Ghana loses skilled goldsmiths every year with very little growth in the jewelry industry making end of value addition as seen in non-producing gold countries like the UAE, where Ghanaian gold is crafted into high-end jewelry. To counter this, MIIF is constructing a MIIF technical training center at the University of Mines and Technology with a jewelry-making center to capture more value from Ghana’s gold,” notes Koranteng.



While gold remains Ghana’s golden goose, the Western African country is looking to diversify its mining sector. “Gold represents about 90% of our total revenue in mining, but we have other untapped minerals, such as lithium, barite, graphite, copper, cobalt, uranium, iron ore, and industrial salt, in huge commercial quantities,” notes Koranteng. MIIF has invested in the Ada Songhor Pans salt project, Sub-Saharan Africa’s biggest salt project, under the lead of a Ghanaian company called Electrochem. It is simultaneously leveraging its lithium resources to support the Ghana automobile development plan. “Our focus on lithium is to leverage ts industrial importance to support areas such as battery making, research, and to make Ghana the EV hub of sub-Saharan Africa. We plan to leverage the African Free Trade to make us a proper hub for batteries, solar panels, and cars,” Koranteng says. In a different venture, MIIF is investing in newfound graphite deposits discovered in the northern part of Ghana and will look into the value addition of Ghana’s bauxite reserves to help develop the planned Ghana-integrated aluminum development plan.



MIIF focuses on the entire mining value chain, including the capital markets. “We are working on a gold-backed ETF that will be listed on Ghana’s Stock Exchange. We supported the listings of Asante Gold, where we invested over US$40 million, Atlantic Lithium, for which we are investing over US$32 million, and the same shall be done for the Electrochem salt project. Our small-scale mining program also aims to prepare companies for potential stock exchange listings,” Koranteng says. “We have a vision where we see the likes of at least 10 MIIF in other African countries financing major mines through joint ventures and reducing reliance on Western capital. This model empowers African countries to develop their mining sectors and share best practices. MIIF can help African nations establish sovereign wealth funds focused on mining,” he says. MIIF co-invests alongside investors in the mining sector, thereby reducing risk for investors and forging a path towards a more diversified mining sector in Ghana.



No. 1 Rangoon Lane, Cannon House 1st Floor, Cantonments, Accra Tel.: +233-302750660 <a href="https://miif.gov.gh/">https://miif.gov.gh/</a>

Edward Nana Yaw Koranteng, CEO of Minerals Income and Investment Fund (MIIF)

Envisioning a Ghana Beyond Gold

<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1001" height="1024" src="https://cms.forbesafrica.com/wp-content/uploads/2024/06/logo-fumba-1001x1024.jpg" alt="" class="wp-image-62290" style="width:248px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/06/logo-fumba-1001x1024.jpg 1001w, https://cms.forbesafrica.com/wp-content/uploads/2024/06/logo-fumba-293x300.jpg 293w, https://cms.forbesafrica.com/wp-content/uploads/2024/06/logo-fumba-768x785.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/06/logo-fumba.jpg 1056w" sizes="(max-width: 1001px) 100vw, 1001px" /></figure></div>


Modernizing port operations through automation, digitization, and strategic PPPs.



In the realm of maritime infrastructure, few ventures rival the ambition and efficiency exemplified by Fumba Ports Limited. With a background in civil engineering and a master’s degree in Shipping and Trade Finance, Awadh Ali, Projects Director of Fumba Ports, embodies the fusion of expertise required to navigate the complex terrain of port development and operation. He says, “My experience is intertwined between projects and project financing, handling projects from inception to implementation and full operations.”



At the core of Fumba Ports’ operations lies a commitment to revolutionizing port efficiency and customer experience. As the first private port in Zanzibar, licensed under the latest increase in public-private partnership (PPP) projects, Fumba Ports signifies a beacon of progress in Tanzania’s infrastructure development. Ali underscores the significance of this partnership, saying, “Fumba serves as a very good case study for PPP when the government and private sector work together seamlessly.”



The genesis of Fumba Ports stemmed f rom the necessity to alleviate congestion and inefficiencies plaguing the government-owned Malindi Port. Ali says, “Fumba came in to ease pressure on Malindi Port, thus allowing the economy to stabilize.” Through a strategic focus on automation and technology, Fumba Ports has set a new standard for operational efficiency. “We’ve prioritized automation in our operations, allowing us to efficiently process approximately 600 to 700 TEUs to date, with containers cleared in as little as 24 hours,” Ali says.



Beyond operational prowess, Fumba Ports’ vision extends to future expansion and collaboration with the Tanzanian government. Ali envisions Fumba evolving into a fully- fledged port, catalyzing direct cargo flow and reducing transshipment costs. This, he asserts, will invigorate both Zanzibar and Tanzania’s economies, fostering domestic spending and revenue retention.



In the broader context of Tanzania’s investment landscape, Fumba Ports exemplifies the nation’s allure for investors. Ali highlights the government’s proactive stance in facilitating investments, positioning Tanzania as a premier destination for ventures. “Tanzania right now is the number one investment destination, the government is very facilitative. Tanzania is open for business,” he says.

Awadh Ali, Projects Director of Fumba Ports 1

Infrastructure Development in Zanzibar’s Maritime Sector

Zanzibar Multipurpose Terminal is enhancing port efficiency, fostering economic growth, and facilitating trade expansion.



Nicolas Escalin, the General Manager of Zanzibar Multipurpose Terminal (ZMT), embodies a wealth of experience and dedication to fostering maritime excellence. With a journey that spans various continents and roles within the industry, Escalin’s leadership at Zanzibar Multipurpose Terminal marks a significant chapter in his career.



“Zanzibar Multipurpose Terminal operates under an agreement with Zanzibar Port Cooperation, taking charge of port operations since September 18, 2023,” Escalin says. The company’s primary focus is on enhancing productivity, maintaining infrastructure, and modernizing operations. It handles a diverse range of activities, including container, breakbulk, conventional vessels, local vessels, and the traditional sailing vessel, Dhow, which links the mainland to Zanzibar.



Escalin emphasizes the company’s commitment to continuous improvement rather than listing achievements. “Our focus remains on continuous improvement,” he says. “For instance, we’ve upgraded from one part-time mobile harbor crane to two fully operational ones, facilitating round-the-clock operations.” Rigorous training programs ensure skilled personnel manage operations efficiently, while revamped yard operations optimize ship handling and organizational processes. These efforts have led to increased vessel turnaround, signifying progress. A key milestone is the development of an Inland Container Depot (ICD), enhancing import container handling an unstuffing capacity.



As a vital gateway, the Zanzibar Multipurpose Terminal plays a crucial role in stimulating the economy of Tanzania. “By improving port efficiency, we reduce waiting times and associated costs, facilitating business activities,” Escalin says. Efficient operations promote trade, benefiting sectors like agriculture and construction.



Looking ahead, Escalin envisions Zanzibar Multipurpose Terminal at the forefront of Africa’s transformation. “We aim to empower our workforce, enhance port infrastructure, and uphold service quality to attract shipping lines,” he says. The organization strives to be a light of improvement in the region by cultivating local talent and encouraging international collaboration. Zanzibar’s government has ambitious port infrastructure development plans, and the Zanzibar Multipurpose Terminal hopes to be a key component of this journey.

Nicolas Escalin, General Manager of ZMT2

A Spotlight on Maritime Innovation

<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="946" src="https://cms.forbesafrica.com/wp-content/uploads/2024/06/ZPC_LOGO-1024x946.png" alt="" class="wp-image-62288" style="width:322px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/06/ZPC_LOGO-1024x946.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/06/ZPC_LOGO-300x277.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/06/ZPC_LOGO-768x709.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/06/ZPC_LOGO-1536x1419.png 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/06/ZPC_LOGO-2048x1892.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></div>


Zanzibar Ports Corporation is redefining maritime activities in Zanzibar.



In Tanzania’s dynamic maritime scene, Zanzibar Ports Corporation (ZPC) stands out as a light of growth and efficiency, driving the development and operation of critical port services in the area. Akif Ali Khamis, ZPC’s Director General, leads these activities, and his innovative leadership has catapulted the business to new heights of excellence. “At ZPC, our mission is clear: to develop and operate port services efficiently with the aim of promoting Zanzibar’s economy,” Khamis says. ZPC was established under the 1997 Act as a reaction to the changing dynamics of global commerce, switching from traditional cargo handling to containerization in the late 1990s. Since then, the corporation has been at the forefront of maritime innovation, orchestrating a holistic approach to port management.


<div class="wp-block-image">
<figure class="alignleft size-full is-resized"><img loading="lazy" decoding="async" width="749" height="716" src="https://cms.forbesafrica.com/wp-content/uploads/2024/06/ZPC-Akif-Ali-Khamis-Director-General-of-ZMT2.jpg" alt="" class="wp-image-62294" style="width:358px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/06/ZPC-Akif-Ali-Khamis-Director-General-of-ZMT2.jpg 749w, https://cms.forbesafrica.com/wp-content/uploads/2024/06/ZPC-Akif-Ali-Khamis-Director-General-of-ZMT2-300x287.jpg 300w" sizes="(max-width: 749px) 100vw, 749px" /><figcaption class="wp-element-caption">ZPC &#8211; Akif Ali Khamis, Director General of ZMT</figcaption></figure></div>


The Malindi Port, a key component of Zanzibar’s marine infrastructure, lies at the heart of ZPC’s activities. Originally built in the 1920s to service a population of 300,000, the port currently faces the needs of a rapidly growing population of about two million. Recognizing the need for growth, ZPC launched the massive Mangapwani Port project, which aims to alleviate congestion and increase capacity to meet rising market needs.



“Our aim is not just to operate facilities, but to ensure they operate efficiently and economically,” Khamis says, underscoring ZPC’s commitment to enhancing service quality while curbing freight costs. This dedication to excellence is evident in the corporation’s strategic partnerships, including the landmark public-private partnership (PPP) venture with Fumba Port. As Tanzania’s first fully private port investment, Fumba Port epitomizes ZPC’s ethos of innovation and collaboration.



Pioneering a new era, ZPC is primed to revolutionize port management through cutting-edge initiatives. As ZPC continues to push the boundaries of port administration, its effect extends well beyond Zanzibar, stimulating ecmionomic growth and encouraging international cooperation. With visionary leadership at the helm and a persistent dedication to quality, ZPC is well-positioned to manage the ever-changing currents of global commerce.

ZMT – MANGAPWANI

Driving Growth and Efficiency in Zanzibar

Spearheading ferry terminal construction for sustainable socioeconomic growth.


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="1024" src="https://cms.forbesafrica.com/wp-content/uploads/2024/06/zf-devco-logo-03-1024x1024.png" alt="" class="wp-image-62291" style="width:374px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/06/zf-devco-logo-03-1024x1024.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/06/zf-devco-logo-03-300x300.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/06/zf-devco-logo-03-150x150.png 150w, https://cms.forbesafrica.com/wp-content/uploads/2024/06/zf-devco-logo-03-768x768.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/06/zf-devco-logo-03-1536x1536.png 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/06/zf-devco-logo-03-2048x2048.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></div>


ZF Devco stands out in Tanzania’s economic scene for its dedication to long-term development and transformational initiatives. ZF Devco was founded with a strong purpose to drive the expansion of Zanzibar’s Blue Economy and support the implementation of President Hussein Ali Mwinyi’s vision for the future of Zanzibar. ZF Devco is currently implementing the construction of a new Passenger and RoRo Terminal at Maruhubi, adjacent to Stone Town, Zanzibar. According to Jaffer Machano, Director and Co-founder and Chairman of ZF Devco, “Our fundamental goal is to grow Zanzibar’s Blue Economy, thereby improving the quality of life for its people.” This enormous project, carried out under a public- private partnership (PPP) with the revolutionary government of Zanzibar, exemplifies ZF Devco’s dedication to generating long-term development while safeguarding the&nbsp; region’s natural beauty, biodiversity, and cultural heritage.



Reflecting on the company’s major achievements, Machano highlights the successful acquisition of a Concessions Agreement for the ferry terminal project. “Securing the PPP agreement was a significant milestone,” he says. With decades of collective experience in PPP projects, Machano and his team bring unparalleled expertise to steer ZF Devco toward realizing its vision.



Matthew VanderBorgh, the co-founder of ZF Devco, emphasizes, “Our project aligns with seven UN Sustainable Development Goals, underscoring our commitment to sustainability.” By improving ferry infrastructure, ZF Devco not only stimulates economic growth but also encourages equal access to economic activities, environmental protection, and community services for all Tanzanians.



ZF Devco’s mission is consistent with bigger programs such as Silicon Zanzibar, which promotes technological development and industrial diversification in the region. “We aim to be a catalyst for positive change, empowering local communities and contributing to the long-term prosperity of Zanzibar,” Machano says.

together

Tanzania’s Blue Economy Renaissance

Amidst the current climate in the world, Tanzania stands as a haven of peace and one that consistently upholds national unity and social cohesion.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“We are hopeful that with such unity, we will move to the even higher levels. Let us continue to work hard at it for this to happen,” says H.E. Samia Sululu Hassan, President of Tanzania.
</blockquote>



On April 26, 2024, Tanzania and Zanzibar celebrated the 60th anniversary of the creation of the United Republic of Tanzania through the union of two formerly sovereign States – Tanganyika and Zanzibar.



Under the leadership of the late Julius Nyerere, the first president of Tanganyika – and later on Tanzania – and the late Amani Karume, the first president of Zanzibar, the two countries made a commitment to share their political values and goals.



“The founding fathers of this country set a very strong foundation for peaceful and brotherly coexistence. There are no boundaries when it comes to tribes, religions, or color. This has been one of the greatest achievements made by any African country to sustain this kind of coexistence,” says Abdirahman M Ahmed, Managing Director of Lake Energies.



Through smooth transitions of political power, Tanzania has consistently chosen dialogue, unity, and inclusivity to maintain the country’s stability.



“The world’s shortest war on record was fought between Britain and Zanzibar in 1896, lasting around a mere 45 minutes. Historically, almost every leader of the nation has always preached peace. They have preached ‘Umoja’, which means unity. We are a very peaceful and calm people, which is reflected in our culture, our well-being, and the way we conduct ourselves,” says Hafsa H. Mbamba, CEO of the Zanzibar Commission for Tourism.



The name Tanzania was formed after the historical union of the two countries in 1964. A befitting name; the meaning of the country’s largest city and financial hub Dar es Salaam, translates into ‘home of peace’ in the Arabic language.



“We have more than 100 ethnic groups in Tanzania, which have unique cultures within themselves but we are united by a language which we all speak. We have this sense of being members of a country, not members of an ethnic group,” says Madaraka Nyerere, the son of Julius Nyerere and Chairman of Culture and Development East Africa (CDEA).



Tanzania has never experienced a civil war or any major internal strife since its independence, continuing to promote a culture of peace among its people. “Unlike other countries, it&#8217;s very difficult for someone to ask you what your tribe is in Tanzania. It&#8217;s because the foundation that was built by our founding fathers has made us feel like one. For example, when someone from Kilimanjaro is supposed to start secondary school, they are transferred to other regions, which means they meet with different people. From there, you go to university or national service. While there, you may even find your partner and start a family. That is how the nation is built,” says Nicolaus Shombe, Managing Director of the National Development Corporation.



Tanzania maintains harmony in its political leadership, ensuring that the President and Prime Minister of the country are represented from the Tanzanian mainland and Zanzibar.



“Our leaders have laid a strong foundation to unite the people of the country. We feel that we are more Tanzanians than whatever geographical areas we may be coming from or our religious backgrounds. There is a national unity that has been built on democratic grounds and we have been able to sustain that democratic approach in the way we handle our politics” says Gissima Hanga,



Managing Director of TANESCO.



The current government continues to honor the legacy of peace initiated by the nation’s previous leaders, as Tanzania is often highlighted in the Global Peace Index as one of the safest countries in Africa.



“Our national value is unity and peace. Her Excellency, Dr. Samia Suluhu Hassan has introduced the four Rs, which are pillars for democracy and economic prosperity: reconciliation, resilience, reform, and rebuilding. This means there is no room for friction. Differences are dealt with through reconciliation and reforms focus on development, thinking big, and rebuilding together. Our union is not just a political structure, it is the union of people, which embraces economic and social integration,” says Dr. Venance Mwasse, Managing Director of STAMICO.



Embracing and celebrating tribal diversity and maintaining exemplary social cohesion and national unity, Tanzania continues to be hailed as a beacon of peace in Africa.


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img loading="lazy" decoding="async" width="591" height="591" src="https://cms.forbesafrica.com/wp-content/uploads/2024/05/TANZANIA-2024-MPU-NEW-01-5.jpg" alt="" class="wp-image-61950" style="width:419px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/05/TANZANIA-2024-MPU-NEW-01-5.jpg 591w, https://cms.forbesafrica.com/wp-content/uploads/2024/05/TANZANIA-2024-MPU-NEW-01-5-300x300.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/05/TANZANIA-2024-MPU-NEW-01-5-150x150.jpg 150w" sizes="(max-width: 591px) 100vw, 591px" /></figure></div>


<a href="https://cms.forbesafrica.com/wp-content/uploads/2024/07/PENRESA_FORBES-2024-TANZANIA_40pags_ONLINE-PART-02-v_08-1.pdf" target="_blank" rel="noreferrer noopener">Download full report here</a>



<div data-wp-interactive="core/file" class="wp-block-file"><object data-wp-bind--hidden="!state.hasPdfPreview" class="wp-block-file__embed" data="https://cms.forbesafrica.com/wp-content/uploads/2024/07/PENRESA_FORBES-2024-TANZANIA_40pags_ONLINE-PART-02-v_08-1.pdf" type="application/pdf" style="width:100%;height:600px" aria-label="Embed of PENRESA_FORBES-2024-TANZANIA_40pags_ONLINE-PART-02-v_08-1."></object><a id="wp-block-file--media-d1b0ab4b-efb4-4fdb-a391-cb38a83bb625" href="https://cms.forbesafrica.com/wp-content/uploads/2024/07/PENRESA_FORBES-2024-TANZANIA_40pags_ONLINE-PART-02-v_08-1.pdf">PENRESA_FORBES-2024-TANZANIA_40pags_ONLINE-PART-02-v_08-1</a><a href="https://cms.forbesafrica.com/wp-content/uploads/2024/07/PENRESA_FORBES-2024-TANZANIA_40pags_ONLINE-PART-02-v_08-1.pdf" class="wp-block-file__button wp-element-button" download aria-describedby="wp-block-file--media-d1b0ab4b-efb4-4fdb-a391-cb38a83bb625">Download</a></div>

OPENING PICTURE TANZANIA 2024 (2)

Tanzania – A Beacon of Peace and Unity

Maximizing its potential in renewable energy and the automobile industry, Morocco is poised to solidify its position as a hub for sustainability and innovation.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“Morocco has today become an inevitable destination in the global market,” says His Majesty Mohammed VI, King of Morocco.
</blockquote>



Inside its labyrinthine medieval cities and bustling urban centers filled with colorful souqs that vie for the attention of its visitors, Morocco also holds a distinct allure for investment.



The North African country encourages foreign investment through its six special economic zones, implementing incentives that range from tax exemptions to subsidies for investment-related expenses.



Since the early 2000s, Morocco has introduced three national industrial policies that supported the financing of physical infrastructures in key sectors and the development of the manufacturing sector. One of these policies, the nation’s Industrial Development and Investment Fund, has supported the modernization and development of the industrial sector’s capacity to substitute imported products.



“We have proven as an African country that we can transform, create and manufacture a platform which can compete against other countries in the world and deliver high standard quality products,” says Minister Ryad Mezzour, Ministry of Industry and Trade.



Indeed, Morocco’s products have become globally competitive with the automotive industry gaining traction in recent years. Gradually shifting from assembling vehicles to full-fledged production, the country is now leading the African automotive industry with a production capacity of 700,000 vehicles a year. The sector boasts a high export turnover that surpassed $US 8.7 billion during the first eight months of 2023.



“Morocco has been successful in automobile production and aerospace manufacturing. Today, automotives stand out as one of the highest export value products for the country,” says Tarik Hamane, Acting CEO of MASEN. The automotive sector is supported through free trade agreements signed with the European Union and the United States.



In tandem with its automotive industry success, Morocco is becoming an important player in the production of low-carbon energy to mitigate climate change and build resilience against volatile and expensive energy prices. As one of the first countries in Africa to align economic development with environmental protection, Morocco is proactively engaged in solar and wind energy production, with its Noor-Ouarzazate concentrated solar power complex being the largest in the world.



“Today, the spotlight is on the competitiveness of Morocco’s green energy. In a world transitioning to decarbonization, Moroccan production gains a distinct competitive advantage,” says Mohcine Jazouli, Minister Delegate to the Head of Government. Ranked ninth in cobalt production globally, the element used in the production of batteries for energy storage and wind energy, Morocco also exerts a considerable influence in promoting green mobility through its support to the supply chain.



Internationally, Morocco benefits from opportunities arising in the reconfiguration of global value chains. As manufacturers in Europe broaden their supplier base to diminish supply chain risks, Morocco’s proximity to the continent and its macroeconomic performance have made the country a destination of choice for numerous multinationals to set up plants.



“We are very well connected to different continents, we have a strong banking system, we have stability, we have a young population and the private sector is the main actor in Morocco,” says Mohamed Laghrari, CEO of Al Hoceinia Holding.



Morocco demonstrated its strong commitment to ongoing investment reforms with the introduction of a new investment charter in December 2022. “While direct incentives are crucial, especially in the context of fierce international competition, Morocco’s new investment charter goes beyond framing the main areas of improvement in the business environment and embodying the state&#8217;s commitment to supporting investors, considering them as key agents in the economic revival of the Kingdom. This strengthens investors&#8217; confidence in the Moroccan state as an economic partner,” says Jazouli.



A one-stop shop for investors, the simplification of administrative procedures and the creation of a national investment fund, the new charter contributes to elevating Morocco’s business environment.



The country’s preferential trade agreements with over 60 countries benefit investors by placing a legal framework for investment and reducing trade barriers. The Moroccan government continues to expand its collaborations with other countries.



At the end of 2023, His Majesty King Mohammed VI of Morocco and His Highness Sheikh Mohamad bin Zayed Al Nahyan, President of the United Arab Emirates signed 12 Memoranda of Understanding (MoU), focusing on investment projects and socio-economic development initiatives across diverse sectors.



Morocco’s selection for high-profile international events is also indicative of the country’s favorable standing and its infrastructure capacity that is on par with developed countries.



“Morocco’s stability and strong economic performance has convinced the IMF and the World Bank to organize their annual meetings in Morocco and, more recently, the FIFA Executive Committee to entrust the Kingdom with co-hosting the 2030 World Cup alongside Spain and Portugal,” says Jazouli.



With its potential to contribute to the global transition to renewable energy and its expanding role in the automotive industry, among others, Morocco is charting a course toward global influence.



<a href="https://cms.forbesafrica.com/wp-content/uploads/2024/02/REPRINT_PENRESA_FA-2024-MOROCCO-vok_online-1.pdf" target="_blank" rel="noreferrer noopener">Download full report here</a>



<div data-wp-interactive="core/file" class="wp-block-file"><object data-wp-bind--hidden="!state.hasPdfPreview" class="wp-block-file__embed" data="https://cms.forbesafrica.com/wp-content/uploads/2024/02/REPRINT_PENRESA_FA-2024-MOROCCO-vok_online-1.pdf" type="application/pdf" style="width:100%;height:600px" aria-label="Embed of REPRINT_PENRESA_FA-2024-MOROCCO-vok_online-1."></object><a id="wp-block-file--media-79ef287c-d2db-401a-b161-c014b29b9b77" href="https://cms.forbesafrica.com/wp-content/uploads/2024/02/REPRINT_PENRESA_FA-2024-MOROCCO-vok_online-1.pdf">REPRINT_PENRESA_FA-2024-MOROCCO-vok_online-1</a><a href="https://cms.forbesafrica.com/wp-content/uploads/2024/02/REPRINT_PENRESA_FA-2024-MOROCCO-vok_online-1.pdf" class="wp-block-file__button wp-element-button" download aria-describedby="wp-block-file--media-79ef287c-d2db-401a-b161-c014b29b9b77">Download</a></div>


<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="591" height="591" src="https://cms.forbesafrica.com/wp-content/uploads/2024/02/MOROCCO-2024-MPU-NEW-01-2.jpg" alt="" class="wp-image-61156" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/02/MOROCCO-2024-MPU-NEW-01-2.jpg 591w, https://cms.forbesafrica.com/wp-content/uploads/2024/02/MOROCCO-2024-MPU-NEW-01-2-300x300.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/02/MOROCCO-2024-MPU-NEW-01-2-150x150.jpg 150w" sizes="(max-width: 591px) 100vw, 591px" /></figure></div>

Turbine Green Energy Electricity Technology Concept

Morocco: Unlocking Opportunities At The Crossroads Of Continents

<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“I seek a nation founded on justice, peace, prosperity for all, regardless of religion, region, ethnicity, and class,” H.E. Bola Ahmed Tinubu, President of Nigeria.
</blockquote>



A country with over 200 million people, Nigeria boasts a large consumer market and a thriving startup ecosystem. The West African nation has witnessed a consistent rise in the number of its startups from 2019 to 2023, with over 3,360 startups entering the market in 2022. With funds from local and foreign investors, the startups generated US$565 million in 2023, a 216% increase from the value generated in 2019.



Nigeria is making developmental progress on multiple fronts, including infrastructure. Its largest city, Lagos, launched a new electric-powered 13-kilometer-long metro rail service in September 2023. The metro’s blue and red rail lines are expected to ease traffic congestion in Nigeria’s economic hub. The blue line connects Lagos city with Lagos Island, the central hub for most businesses, while cutting-down the two-hour travel time to only 15 minutes.



“We want to make Lagos an African model mega city that is safe, secure, and resilient. We want it to be a pride of Africa. We will ensure that Lagos embodies everything that a mega city, anywhere in the world could be,” says Governor of Lagos state, Babajide Olusola Sanwo-Olu.



Infrastructure is one of the sectors attracting foreign investment as well as manufacturing, oil and gas, and agriculture. After assuming power in May 2023, Nigeria’s President, Bola Ahmed Tinubu has introduced reforms to enhance the nation’s economic growth by removing a decades-long fuel subsidy and boosting tax revenue. Nigeria is expected to benefit from the current global surge in oil prices, given its status as one of the largest oil-producing nations in Africa.



“The president is trying to create an environment where Nigeria is considered a top investment destination. The oil sector has enormous potential. It has been successful over the years but I think there&#8217;s a lot of unlocked potential. It’s a dollar-denominated sector and the export of oil is a significant source of foreign exchange coming into the country,” says Roger Brown, CEO of Seplat.



According to the World Bank, the reforms being undertaken in Nigeria will propel the nation’s growth to an average of 3.4% between 2023 and 2025. The International Monetary Fund has also projected accelerated economic growth in the West African nation, as the country witnesses positive progress in different sectors including service and agriculture.



“If you look at the FAO data, Nigeria is about the 10th or 11th biggest producer of corn in the world. There are about 13 to 14 million metric tons of corn being produced in the country. I am very happy to see the ambition that the country has set to have a one trillion economy in the next seven to eight years, 50 million jobs focusing on agriculture, revamping monetary and fiscal policy, and pulling 100 million people out of poverty. That’ll make Nigeria become a big non-oil exporter and with a good chunk of GDP coming from agriculture,” says Muyiwa Gbadegesin Country Head and Managing Director of Olam Agri.



As President Tinubu pledged during his campaign, Nigeria anticipates a future of renewed hope. The country is focusing on promoting investment as a means to create jobs. The president has introduced different measures, such as liberalizing the exchange rate to address hard currency-related challenges in promoting trade and investment.



“If this economy is going to grow at the level of GDP that the president anticipates, the various sectors of the economy will have to grow. Financing must be provided largely by the banking sector to fuel the growth. When that happens, if you invest in any segment of the financial service sector, then you are going to reap bountifully,” says Adesola Adeduntan, CEO of First Bank.



Nigeria’s National Development Plan has set an ambitious goal to achieve private sector-led economic growth, which will generate 21 million jobs and lift 35 million people out of poverty by 2025. The World Bank projects that if the current reforms continue, Nigeria will be able to improve its business environment and create robust economic growth.


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><a href="https://cms.forbesafrica.com/wp-content/uploads/2023/12/NIGERIA_FORBESAFRICA_2024-vok_v2.pdf"><img loading="lazy" decoding="async" width="591" height="591" src="https://cms.forbesafrica.com/wp-content/uploads/2023/12/NIGERIA-2024-MPU-NEW-01-1.jpg" alt="" class="wp-image-60393" style="width:407px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/12/NIGERIA-2024-MPU-NEW-01-1.jpg 591w, https://cms.forbesafrica.com/wp-content/uploads/2023/12/NIGERIA-2024-MPU-NEW-01-1-300x300.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/12/NIGERIA-2024-MPU-NEW-01-1-150x150.jpg 150w" sizes="(max-width: 591px) 100vw, 591px" /></a></figure></div>


<a href="https://cms.forbesafrica.com/wp-content/uploads/2023/12/NIGERIA_FORBESAFRICA_2024-vok_v2.pdf">Download full report here</a>

An aerial image of the shores of Victoria Island, Lagos

Nigeria: Embracing New Developments For A Brighter Future

<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“Changing the economic future of Kenya demands making growth and the creation of opportunities our number one priority.” H.E. William Ruto, President of the Republic of Kenya
</blockquote>



As the fourth largest sub-Saharan economy and the third fastest-growing GDP in the region, Kenya has positioned itself as a major economic power in sub-Saharan Africa. Over recent years, Kenya has adapted its economy to become a manufacturing, logistics, and technology hub.



This diversification forms a solid platform from which the government can generate cross-border economic growth over the coming years. As a land of endless opportunities, one of the main advantages Kenya enjoys is its strategic location in East Africa, serving as a gateway to the African market with a population of over 1.4 billion people. The African Continental Free Trade Agreement (AfCFTA) ensures that Kenya is now better positioned than ever to take advantage of the vast opportunities that the African market has to offer.



<a href="https://cms.forbesafrica.com/wp-content/uploads/2023/07/KENYA_FA_2023_28pags-vJUNE_05-1.pdf" target="_blank" rel="noreferrer noopener">Download full report here</a>



<div data-wp-interactive="core/file" class="wp-block-file"><object data-wp-bind--hidden="!state.hasPdfPreview" class="wp-block-file__embed" data="https://cms.forbesafrica.com/wp-content/uploads/2023/07/KENYA_FA_2023_28pags-vJUNE_05-1.pdf" type="application/pdf" style="width:100%;height:600px" aria-label="Embed of KENYA_FA_2023_28pags-vJUNE_05-1."></object><a id="wp-block-file--media-53824ed1-01dd-4c43-b19a-2577495d50bc" href="https://cms.forbesafrica.com/wp-content/uploads/2023/07/KENYA_FA_2023_28pags-vJUNE_05-1.pdf" target="_blank" rel="noreferrer noopener">KENYA_FA_2023_28pags-vJUNE_05-1</a><a href="https://cms.forbesafrica.com/wp-content/uploads/2023/07/KENYA_FA_2023_28pags-vJUNE_05-1.pdf" class="wp-block-file__button wp-element-button" download aria-describedby="wp-block-file--media-53824ed1-01dd-4c43-b19a-2577495d50bc">Download</a></div>



In addition, East Africa is also the fastest-growing region on the continent. &#8220;With DRC joining the East African community, the market is sizable and new opportunities arise. Kenya may not prosper and grow further by just sitting in Kenya, so many companies are now looking into the neighboring markets,&#8221; says Manoj Shah, Owner of Osho Chemical Industries.



With the recent election of His Excellency President William Ruto, the nation is marked by a transformative period with new milestones to push forward Kenya&#8217;s development. Although the Kenya 2030 Vision was enacted by the previous government, it will be enhanced with the new presidency’s measures to create an even stronger, industrializing, middle-income nation. President Ruto is keen on attracting Foreign Direct Investment by enacting business-friendly policies. As part of his manifesto, Kenya Kwanza Plan, the President focuses on five pillars of the economy including agriculture, Micro Small, and Medium Enterprises (MSME), affordable housing, healthcare, and the digital economy. “We intend to give comfort to investors through credible and effective institutions and reactivate our dormant Central Depository investor accounts,” the President confirms.



Kenya boasts a dynamic and thriving private sector, driving economic growth and employment. &#8220;Kenya is privileged to be a private sector-led economy. The Kenya Private Sector Alliance (KEPSA) plays a big role to ensure the interlock between the private sector, government, and development partners,” explains Carole Kariuki, CEO of KEPSA.



The country’s Vision 2030 emphasizes six priority sectors important for the nation&#8217;s growth, one of which is manufacturing. “We have agreed that we need to increase the contribution of manufacturing to GDP from 7.5% to 20% by 2030. That is a threefold increase in growth which is very ambitious,” states Anthony G. Mwangi, CEO of the Kenya Association of Manufacturers.



As a country where only a small portion of the population earns enough to afford a mortgage, Kenya is also working to curb the issue of housing deficits. “We want to build fantastic world-class housing estates at affordable pricing. If you look at Vision 2030, current and previous governments, have been working on infrastructure. It means that people can live a bit farther and get quality housing,” notes Andrew Muthee, CEO of AMG Realtors. Given that there is a growing trend for urbanization and a demand for housing, there’s a vast potential for the real estate industry to thrive in the Kenyan market. “We have a good relationship with Kenya. We know that the country is the best place for investment. It is the economic heart of Africa,” notes Gong Yuxian, General Manager of Avic International Real Estate Kenya.



Sectors poised for exponential growth and investment opportunities are aligned with President



Ruto’s five pillars, where his manifesto priorities agriculture, micro, small and medium enterprises, housing and settlement, healthcare, as well as the digital superhighway and the creative economy, which include software engineering and artificial intelligence.



In Kenya, ICT has been established as the key to growth. As such, President Ruto plans to lay 100,000 kilometers of internet fiber nationwide over five years to ensure Kenya stays on this upward trajectory. Through investments of US $400 million, nurturing ICT talent, supporting education in technology fields, and lowering the cost of the internet, Kenya is poised to be Africa’s new digital hub and a hotspot for ICT. Meanwhile, its tech ecosystem offers an attractive space for entrepreneurs and investors.



President Ruto has stated that one of his government’s central concerns will be climate change and renewable energy, areas in which Africa has the potential and opportunity to lead the world. Kenya’s development is supported by its progress in its energy sector which has a dual objective of providing affordable and dependable power to all and driving Kenya&#8217;s shift towards a low-carbon economy.



“We are looking at the energy transition for the future because our company’s target is to reach full decarbonization by 2050. Based on this target, ENI Kenya and Kenya have found a way to work together because Kenya also plans to have a 32% reduction of its greenhouse gas emission by 2030,” notes Enrico Tavolini, Managing Director of ENI Kenya. As the country continues its journey towards becoming a middle-income nation, its boundless potential and endless possibilities wait to be tapped by potential investors.

Aerial,View,Of,Nairobi,Skyline,With,Light,Trails,During,Sunset

KENYA: Creator Of Opportunity

<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“It is our firm belief that domestic and foreign direct investment brings the much-needed capital, technology, management techniques and knowledge of foreign markets,” Hakainde Hichilema, President of Zambia.” H.E. Hakainde Hichilema
</blockquote>



Since the election of His Excellency President Hakainde Hichilema in August 2021, Zambia has become unrelenting in its drive to expand the economy and become a mining and energy hub of Africa. By creating favorable investment policies and business-friendly reforms, Zambia has realigned with international best practices and generated renewed confidence in the investment climate of its mining and energy sectors.



As many nations are facing opportunities in the energy transition, Zambia has worked to position itself to capitalize on the global drive for essential minerals to facilitate these green transitions. These efforts lend to the nation’s dedication to renewable energy resources and have resulted in the ambitious goal to increase Zambia’s copper production to 3 million tons each year. To push this agenda forward, the country’s top copper producer, Canadian First Quantum Minerals (FQM), has finalized a general investment of US$1.35 billion for mining expansion in Zambia, the nation’s largest since the Sentinel project was approved in 2012. This investment includes the US$1.25 billion expansion of the Kansanshi copper mine in Zambia, which was initiated in January 2020.



These investments continue to push forward Zambia’s renewable energy solutions to further support the green transition. Ana Hajduka, founder and CEO of Africa GreenCo, confirms, “Renewable energy in Zambia is an inevitable undertaking owing to the fact that Zambia boasts of significant renewable energy resources such as adequate wind, irradiation, and a well-structured river network backed by good hydrology. This allows Zambia to draw closer to claiming its title as the regional renewable energy trading hub.”



Indeed, around 85% of Zambia’s electricity comes from hydropower, and its potential continues to grow, offering attractive propositions for investors. Zambia boasts the largest hydropower plants, generating almost 2,000 MW combined. Hon. Peter Chibwe Kapala, Minister of Energy, adds, “Renewables are the way forward. By 2030, we should be able to achieve most of the things that are set out in our party manifesto and encourage more private investment.” As the northernmost region of Zambia receives more rainfall, the Ministry of Energy is shifting its focus to emphasize hydropower in the north. Solar energy is another source of renewable energy, as Zambia has solar resources in abundance. Ultimately, the nation’s plan is a balanced and complementary energy mix to eliminate intermittency and offer uninterrupted power generation.



To reach its fullest potential, Zambia relies on its strategic position and interconnectivity with neighboring countries, which offer many opportunities in terms of trade and power generation. Caroline Royer, Managing Director and Country Chair of TotalEnergies Zambia, states, “Some people say that Zambia is landlocked, but others say it is land-linked. There are many countries around and many possibilities.” Victor Mapani, Managing Director of ZESCO, adds that interconnectivity is essential for the energy and mining sectors. He says, “You must have interconnectivity with neighbors, and we are in the center. We are land-linked. If we have interconnections with neighboring countries, we can export and import power comfortably. In terms of hydropower, we want to exploit the hydro potential we have. We are very well



positioned with water and now also centrally located.” Through upcoming Memorandums of Understanding, Zambia is set to interconnect with nations such as the DRC, Tanzania, Zimbabwe, Namibia, and Angola.



<a href="https://cms.forbesafrica.com/wp-content/uploads/2023/04/ZAMBIA_FA_2023_16pags-vok.pdf" target="_blank" rel="noreferrer noopener">Download full report here</a>



<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" src="https://cms.forbesafrica.com/wp-content/uploads/2023/04/ZAMBIA-MPU-NEW-01.jpg" alt="" class="wp-image-57907" width="282" height="282" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/04/ZAMBIA-MPU-NEW-01.jpg 591w, https://cms.forbesafrica.com/wp-content/uploads/2023/04/ZAMBIA-MPU-NEW-01-300x300.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/04/ZAMBIA-MPU-NEW-01-150x150.jpg 150w" sizes="(max-width: 282px) 100vw, 282px" /></figure>



<div data-wp-interactive="core/file" class="wp-block-file"><object data-wp-bind--hidden="!state.hasPdfPreview" class="wp-block-file__embed" data="https://cms.forbesafrica.com/wp-content/uploads/2023/04/ZAMBIA_FA_2023_16pags-vok.pdf" type="application/pdf" style="width:100%;height:600px" aria-label="Embed of ZAMBIA_FA_2023_16pags vok."></object><a id="wp-block-file--media-2594b3ca-52cd-45bb-84b9-3b76232f0b11" href="https://cms.forbesafrica.com/wp-content/uploads/2023/04/ZAMBIA_FA_2023_16pags-vok.pdf">ZAMBIA_FA_2023_16pags vok</a><a href="https://cms.forbesafrica.com/wp-content/uploads/2023/04/ZAMBIA_FA_2023_16pags-vok.pdf" class="wp-block-file__button wp-element-button" download aria-describedby="wp-block-file--media-2594b3ca-52cd-45bb-84b9-3b76232f0b11">Download</a></div>

Skyline photo of Lusaka city at night

The Mining and Energy Hub of Africa

<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“We are committed to a modern Botswana that is not only open to but is also able to compete with the rest of the world” – H.E. Dr Mokgweetsi Eric Keabetswe Masisi, President of the Republic of Botswana
</blockquote>



In less than four decades after its independence, Botswana has quickly climbed the ranks from a poor country to an upper middle-income country, proving to be a development success. Setting out a compelling vision for the nation, the government has now introduced Vision 2036, placing strategies to take Botswana even further from an upper middle-income country to a high-income country. “Our National Vision 2036 is anchored on four pillars of sustainability–economic development, human and social development, sustainable environment and governance, and peace and security,” says His Excellency Dr. Mokgweetsi Eric Keabetswe Masisi, President of Botswana. “If you look at the Standards and Poor rating, I think the short-term rating is A2 and the long-term investment is triple B plus. Botswana has been growing for about 5% per annum over the last 30 years and the employment market has grown by about 10% over the last 30 years,” says Reinette Van der Merwe, CEO of First Capital Bank.



Botswana’s rich mineral resources are often credited for its strong economic performance, with 80% of export earnings coming from diamond mining. “Botswana is significantly endowed with mineral wealth, whether you&#8217;re talking about base metals like nickel or copper, precious metals, coal, not just thermal coal, but also metallurgical coal, which is used in steel making,” notes Matome Tsholetsa Malema, CEO of Minerals Development Company Botswana. The nation has been working on a project that aims at establishing a mineral exploration fund to drive more benefits from mining.



Botswana has made use of its wealth to build a robust social welfare system in the country, providing free education to its citizens and availing reliable health care. The mere existence of diamonds, however, is not the secret to Botswana’s miraculous growth. Oduetse Motshidisi, CEO of Non-Bank Financial Institutions Regulatory Authority says the role of Botswana’s institutions made the definitive difference in the country’s success. “Our institutional strength and legitimacy assures that there is proper governance, rule of law and most importantly, stops corruption and other activities that are harmful. The institutional structure and the resilience of those institutions and their ability to withstand challenges and threats makes a great difference,” he says.



Apart from mining, Botswana also relies on tourism and agriculture. Combining a land of rugged and untamed beauty, pristine landscapes, spectacular wildlife and river deltas, the country is truly a place of enchantment. “We have a strong heritage and culture, not just heritage sites to visit. We have a culture that is inclusive and convenient for investors and tourism. We have a history of prudent management of our natural resources,” says Hon. Philda Kereng, Minister of the Ministry of Environment, Natural Resources Conservation and Tourism. In terms of the agriculture sector, the government has introduced different programs that are geared at supporting people cultivate their land and promote food security. “Early this year, we imposed a two-year import ban on horticultural products. Now tomatoes, ginger, garlic, potatoes are locally produced and it is encouraging how people have responded to the ban,” states Fidelis Molao, Minister of Minister of Agriculture, Development and Food Security. “The agricultural sector currently contributes 2% to the GDP. The sector is undergoing transformation and there are a lot of opportunities. We are targeting communities who seem to be low on the economic ladder because agriculture is a major employer for these groups of people,” mentions Professor Julius R. Atlhopheng, CEO of National Agricultural Research and Development Institute.



Botswana has a business landscape that is remarkably friendly. The government has been providing incentives for investors with a focus on the export sector. “We allow investors a 99-years land lease. We also allow investors to continuously train their teams with a training rebate of 200%. Any raw materials or machineries we need to start businesses are imported duty free,” notes Lonely Mogara, CEO of Special Economic Zones Authority.



“We&#8217;ve run prudent macroeconomic policies over the years such that we can run deficits that are sustainable in the medium to long term. We have been able to build a buffer of foreign exchange reserves,” says Andrew Maatla Motsom, Managing Director of Debswana Diamond Company, explaining that the government is committed to building a knowledge economy, providing opportunities for investment in digitalization.



Digitalization expanded significantly during the COVID-19 pandemic with the government functioning online, and the education sector delivering much of the curricula and teaching through digital technologies.



“We are working very hard to bring down the cost of data in this country. We are now second after Morocco in terms of reaching the target for 2% of gross national income,” says Hon. Thulagano M. Segokgo, Minister of Minister of Communications, Knowledge and Technology. This successful practice in digitalization has expanded to the investment sector. “We have set up an online business registration system, which is linked to people’s IDs. We have also ratified the Trade and Industrial Development Act, which established the One Stop Service Centre for all investment authorisations. We’re granting permanent residence to investors who have value. We have decentralised the visa issuance to our embassies across the world, so they can do it instead of us,” states Hon. Mmusi Kgafela, Minister of Investment, Trade and Industry.



Botswana holds access to international markets through the Southern African Development Community (SADC), the African Growth and Opportunity Act (AGOA), the EU and SADC economic partnership agreements and the African Continental Free Trade Area Agreement. This is one of the many appealing elements of Botswana as a business destination for foreign investors. “As a foreign company, we have easy access to our funds with no restrictions, and the government is the least corrupt government in Africa. The government facilitates everything and things get done in the right manner. We pay our investors dividends with no issues,” says Naseem Lahri, Managing Director of Lucara Diamond. “We have a very good system and structure in place. Everything works in this country. The laws and the systems are much more business friendly in the region,” adds Ramachandran Ottapathu, CEO of Choppies.



<a href="https://cms.forbesafrica.com/wp-content/uploads/2023/02/BOTSWANA_FA_2023_44pags-vok_FORBES_online4.pdf" target="_blank" rel="noreferrer noopener">Download Full Report </a>



<div data-wp-interactive="core/file" class="wp-block-file"><object data-wp-bind--hidden="!state.hasPdfPreview" class="wp-block-file__embed" data="https://cms.forbesafrica.com/wp-content/uploads/2023/02/BOTSWANA_FA_2023_44pags-vok_FORBES_online4.pdf" type="application/pdf" style="width:100%;height:600px" aria-label="Embed of BOTSWANA_FA_2023_44pags vok_FORBES_online4."></object><a id="wp-block-file--media-d9faec1a-2aad-4308-b52f-8414d1348d3f" href="https://cms.forbesafrica.com/wp-content/uploads/2023/02/BOTSWANA_FA_2023_44pags-vok_FORBES_online4.pdf">BOTSWANA_FA_2023_44pags vok_FORBES_online4</a><a href="https://cms.forbesafrica.com/wp-content/uploads/2023/02/BOTSWANA_FA_2023_44pags-vok_FORBES_online4.pdf" class="wp-block-file__button wp-element-button" download aria-describedby="wp-block-file--media-d9faec1a-2aad-4308-b52f-8414d1348d3f">Download</a></div>

Gaborone, South East, Botswana 27 April 2017 aerial panorama of  Main Mall

Botswana: A Hidden Gem Of Africa

<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">“We are a country where investments are secure and protected under a governance system. Ghana is ready for business and a land of opportunity for private capital and is creating a business-friendly economy.Nana Akufo-Addo, President of Ghana</blockquote>



Located at the centre of the world where longitude zero degrees crosses latitude zero degrees, Ghana is a pleasant country where the sun shines bright and its music, dance and culture please the mind and soul. The country’s recently launched tourism campaign, “Destination Ghana”, invites visitors to explore this spectacular land with rich culture, heritage and welcoming people. Beyond its famed hospitality, Ghana offers a favourable investment climate with a stellar reputation as the largest foreign direct investment recipient in West Africa.&nbsp;“Ghana was the first country to gain independence in Africa,” says Philip Tieku, the Chief Executive Officer of Star Oil, one of the top four market leaders in Ghana’s oil industry. “The various ethnic groups in Ghana coexist peacefully, even when people try to raise ethnic differences. The peaceful environment is favourable for business. Every business wants to be located where they can be sure of the long-term outlook for their growth.”



Ghana has worked towards sustained economic recovery after the pandemic, and ranks as the best investment destination in West Africa and sixth best in Africa. The nation has created a favourable environment for investors to explore the nation’s vast opportunities with a dynamic economy upheld by diverse industries including agriculture, oil and gas and mining. In addition, its participation in the African Continental Free Trade Area (AfCFTA) makes it ideal for investment. “The economy is very good for services, manufacturing, mining, retail, tourism, hospitality and many other sectors. Investors should be strategic and choose a sector that is ideal for them. Besides, Ghana has a high quality of human resources with a lot of local potential,” notes Charles Antwi-Boahen, Chief Executive Officer of Kab Fam.&nbsp;



This sentiment is shared by Roberta Annan, the Chief Executive Officer of Annan Capital Partners, an international firm focused on building new businesses in Africa with its mantra “people, planet and profit.” “We&#8217;re blessed with natural resources and we just recently discovered oil. We have gold, cocoa and other amazing natural resources, but I believe the most important natural resource we have is our human capital. Ghanaians are very educated, very motivated, have morals and are generally more honest when it comes to doing business than other countries,” she says.



The Ghanaian government’s transparent, friendly and less bureaucratic administration is often credited for the successful operations of businesses in the country. Daniel Christopher Hesse-Tetteh, Executive Director of Harlequin, a company engaged in the mining industry and providing engineering services across a range of industries, describes Ghana as one of the easiest places to do business in Africa. “Many internationally renowned companies are setting up facilities in Ghana because it’s convenient for business. We have BMW, Toyota, Isuzu and a few other brands. As a nation, we should focus on developing the industry considering that we have a highly skilled population. We need to try to be less reliant on other people – work with them, but not be reliant,” he says.&nbsp;



While Ghana is boldly pursuing its mission to attract investment, it also recognises the importance of sustainability and mitigating the impacts of climate change. Ghana is mapping its energy transition journey, and companies like Harlequin are pushing its agenda forward. Daniel Christopher Hesse-Tetteh, Executive Director of Harlequin International, states, “Our motivation is to move from oil and gas and enter industries where the future is good, such as renewable energy, where we can add value as a fabrication engineering company.” With the growing demand for energy and the country’s dependence on fossil fuels, the government is eager to tap renewable sources to diversify the energy mix.



From an investment standpoint, it is clear that Ghana has a multitude of natural and legislative endowments that lend to its investment capacity, including its ease of doing business, political stability and safety. Ramesh Sadhwani, Joint Managing Director of Melcom, states, “In terms of peace, Ghana is the place to be. The quality of living is higher compared to other West African countries. Here, everything is available.” On top of it all, Ghana boasts a transparent government that is working to create an enterprising atmosphere to foster innovative ideas that will lead to lucrative enterprises.



<a href="https://cms.forbesafrica.com/wp-content/uploads/2022/12/PENRESA_FA-GHANA-32Pags-v_online-lr-1.pdf" target="_blank" rel="noreferrer noopener">Download full report here</a>



<div data-wp-interactive="core/file" class="wp-block-file"><object data-wp-bind--hidden="!state.hasPdfPreview" class="wp-block-file__embed" data="https://cms.forbesafrica.com/wp-content/uploads/2022/12/PENRESA_FA-GHANA-32Pags-v_online-lr-1.pdf" type="application/pdf" style="width:100%;height:600px" aria-label="Embed of Embed of PENRESA_FA-GHANA-32Pags-v_online-lr-1.."></object><a id="wp-block-file--media-68e37270-fd4b-4d6c-b421-5176c05698e0" href="https://cms.forbesafrica.com/wp-content/uploads/2022/12/PENRESA_FA-GHANA-32Pags-v_online-lr-1.pdf">PENRESA_FA-GHANA-32Pags-v_online-lr-1</a><a href="https://cms.forbesafrica.com/wp-content/uploads/2022/12/PENRESA_FA-GHANA-32Pags-v_online-lr-1.pdf" class="wp-block-file__button" download aria-describedby="wp-block-file--media-68e37270-fd4b-4d6c-b421-5176c05698e0"></a></div>

COVER IMAGE Ghana

Ghana: A Land Of Opportunity

“This is the time to stand together and get connected. It’s time to bury our differences, show love to one another and look forward with confidence.” H.E Samia Suluhu Hassan, President of Tanzania&nbsp;



Located on the east coast of Africa and south of the equator, Tanzania is home to some of the world’s first human settlements, with fossils dating back as far as 3.6 million years. Today, the country has set further precedence and given Africa its first Muslim female president, further cementing Tanzania’s positive legacy on the world stage. &nbsp;



Today, Tanzania is thriving; the country’s GDP in 2021 demonstrated an increase of over five million dollars compared to 2020. Strategically designed and flexible policies that pay heed to the importance of the private sector are contributing to the country’s economic growth. President Samia Suluhu Hassan’s leadership is marking a positive new beginning for the country and a brighter future. “Her Excellency strongly believes in the private sector and understands that for this country to prosper, the government must be able to work very closely with them. She has been very clear that all policies which are limiting or hindering investors must be reviewed. She&#8217;s pushing the agenda of creating a one-stop centre for investments in Tanzania, to get everything in one place,” says Abdulmajid Nsekela, Group CEO &amp; Managing Director of CRDB Bank.&nbsp;



The most notable impact of H.E Hassan’s administration is the change in investment parameters that have made Tanzania an appealing investment destination. Hosea Kashimba, Director General of Public Service Social Security Fund states, “Madam Samia has been advocating to unlock barriers to investment like getting working permits. The government’s initiative to review the country’s policies is providing reassurance to investors.”&nbsp;



The President has also done a remarkable job in finishing projects which were started by the late President Magufuli, one of which is the Tanzanite Bridge which has quickly become symbolic of Tanzania’s growth and prosperity. Ruth Zaipuna, Chief Executive Officer of NMB Bank, describes the President’s first year in office as impressive, “Her Excellency is completing key and strategic infrastructure projects that were started by her predecessor, but she is commissioning new projects as well. She is attracting new foreign direct investments. The recent one, almost US$1.3 trillion from IMF, has transformed the country in terms of infrastructure development.” &nbsp;



H.E Hassan has also worked hard to rebrand Tanzania, opening up the country to attract foreign investment and tourism. In 2021, the country attracted a total of US$4.144 billion in foreign direct investments with 237 new projects. Minister of Finance and Planning, Dr Mwigulu Nchemba states, “Her Excellency is marketing Tanzania abroad; you can easily access land for investment in Tanzania and at a relatively low cost compared to most African countries.” In terms of the tourism sector, in 2021, Tanzania was voted Africa’s most beautiful tourist destination by the World Travel Awards.&nbsp;



The Tanzanian President has brought together and unified neighbouring nations, securing political stability and economic growth. She ratified the African Continental Free Trade Area in 2021, enabling Tanzania to tap into a market of 1.2 billion potential customers. In addition, she has actively taken part in many worldwide conferences to help put Tanzania back on the map. CEO of Stanbic Bank, Kevin Wingfield says, “The energy and passion that she has shown in terms of the number of visits she&#8217;s done in a very short period of time to unlock and open doors for the country is hugely positive.” The President has reportedly secured a record TSh 18.75 trillion in MoUs at the Dubai Expo in 2021.&nbsp;



In just one year, the President has become an iconic figure in Tanzania’s history, particularly for driving positive changes in the country. Managing Director and CEO of NCBA Bank Tanzania Limited, Margaret Karume says, “As the first female head of state in Tanzania, the president has been an inspiration for women. For the first time, Tanzania has women in many strategic government positions, ministry of foreign affairs and East African cooperation, minister of defence and national service, among others. This has great implications, especially for young women who are looking up to our beloved president.”&nbsp;



<a href="https://cms.forbesafrica.com/wp-content/uploads/2022/06/TANZANIA_Report_PenresaFA_2022-v02.pdf" target="_blank" rel="noreferrer noopener">Download full report here </a>



<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" src="https://cms.forbesafrica.com/wp-content/uploads/2022/06/TANZANIA-2022-MPU-NEW-01.jpg" alt="" class="wp-image-55225" width="175" height="175" srcset="https://cms.forbesafrica.com/wp-content/uploads/2022/06/TANZANIA-2022-MPU-NEW-01.jpg 591w, https://cms.forbesafrica.com/wp-content/uploads/2022/06/TANZANIA-2022-MPU-NEW-01-300x300.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2022/06/TANZANIA-2022-MPU-NEW-01-150x150.jpg 150w" sizes="(max-width: 175px) 100vw, 175px" /></figure>



<div data-wp-interactive="core/file" class="wp-block-file"><object data-wp-bind--hidden="!state.hasPdfPreview" class="wp-block-file__embed" data="https://cms.forbesafrica.com/wp-content/uploads/2022/06/TANZANIA_Report_PenresaFA_2022-v02.pdf" type="application/pdf" style="width:100%;height:600px" aria-label="Embed of Embed of TANZANIA_Report_PenresaFA_2022-v02.."></object><a id="wp-block-file--media-745744e6-53ba-4abb-bbd3-76eb8f097b53" href="https://cms.forbesafrica.com/wp-content/uploads/2022/06/TANZANIA_Report_PenresaFA_2022-v02.pdf">TANZANIA_Report_PenresaFA_2022-v02</a><a href="https://cms.forbesafrica.com/wp-content/uploads/2022/06/TANZANIA_Report_PenresaFA_2022-v02.pdf" class="wp-block-file__button" download aria-describedby="wp-block-file--media-745744e6-53ba-4abb-bbd3-76eb8f097b53">Download</a></div>

Dar es Salaam city scape

Tanzania: Changing Perspective To Create Unity And Opportunity 

“As President of Nigeria and the Pan African Great Green Wall, my commitment to working assiduously towards addressing land degradation, food security, desertification, climate change, depletion of the forest ecosystems and biodiversity in Nigeria, Africa and the world remains a top priority.” H.E. Muhammadu Buhari, President of Nigeria&nbsp;



According to the United Nations Department of Economic and Social Affairs, Nigeria is predicted to replace the USA as the third most populated country on the planet by 2050, an important factor driving its national policy on climate change and its focus on guaranteeing national food security while fostering a low-carbon, high growth economic development. Indeed, it is with this in mind that the largest oil and gas producer in Africa is currently on a mission to fortify its prosperity through diversity, inclusion, sustainability and a shift towards the inexhaustible potential of renewable energy. H.E. President Muhammadu Buhari states, “As we walk along the path of revival, recovery, resilience, recycling and restoration, the importance of protecting our resources is key to guaranteeing the peace, security and prosperity of our nation for present and future generations. Only by protecting our planet and its biodiversity can we effectively secure our collective survival.” &nbsp;



President Buhari’s vision for sustainability was set in motion through Nigeria’s Agriculture Promotion Policy which has worked relentlessly to revive the nation’s agricultural sector’s capacity for self-sufficiency. Nigeria’s Green Alternative works to consolidate partnerships with key stakeholders in order to build a long-term agribusiness economy that not only meets Nigeria’s domestic food security demands but boosts exports and promotes sustainable income and job growth.&nbsp;&nbsp;



Population growth is also a major factor driving the nation’s digitalisation agenda, ensuring Nigeria’s thriving growth trajectory remains on track and its enabling economic transformation is in full compliance with climate-friendly policies while boosting job creation. In February 2022, the EU announced its plan to invest €820 million in support of the country’s digital economy over the next three years to nurture Nigeria’s enormous potential for digitalisation. At the same time, the effects of the pandemic have acted as a catalyst in accelerating the push for digital services offered, particularly in public administration, healthcare, financial services and education. “Nowadays, everything has gone digital,” declares Mofid Karameh, Chairman and CEO of Mikano International. “This is the future and, for an organisation to survive, it needs to keep up with the trend. At Mikano, we are continually improving our processes and digitisation is how we are setting the pace.” &nbsp;



Furthermore, Nigeria has made innovative progress with the repositioning of Lagos State as a smart city, and in November 2021, Nigeria became Africa’s first nation to introduce a digital currency when it launched the eNaira, an electronic version of the paper naira currency, issued by the Central Bank of Nigeria. “We are trying to promote an African Silicon Valley in Lagos in the hope that a lot of investment happens,” explains Samaila Zubairu, President and CEO of the African Finance Corporation. “We think there&#8217;s a massive opportunity for digital infrastructure and we are driving that significantly.” The government’s Strategic Economic Roadmap and Action Plan 2021-2024, which is contained in the Nigerian National Digital Economy Policy and Strategy, is facilitating digitisation through the promotion of digital literacy, cybersecurity, digital innovation and entrepreneurship. Emerging technologies and services such as cloud solutions, Intelligent Connectivity and IoT are in place while Nigeria is set to become Africa’s highest 5G subscriber by the end of 2022. The Nigerian administration also plans to migrate all government paper activities to paperless by 2030. Paperless activities concentrate the focus and impact of digitalisation in all sectors, including power-generation operations and real estate, where an online electronic conveyance system is currently underway. “The whole idea in Nigeria and for us, as a Group, is to keep abreast with global trends,” declares Chairman and CEO of Cosgrove, Umar Abdullahi. “We are leveraging technology and the internet to improve our lives, and this is what Cosgrove is all about; we have already started venturing into full automation.”&nbsp;



Determined to reset Nigeria’s economy and in response to the COVID-19 pandemic, in 2020 President Buhari’s government has additionally approved the US$5.9 billion Nigeria Economic Sustainability Plan (NESP). The plan’s main objective lies in revitalising and diversifying the economy while securing employment and boosting job creation through the implementation of strategic investments in sectors that guarantee longstanding economic growth. With a focus on renewable energy and its potential to electrify and guarantee off-grid sources, the plan pivots upon 10 key projects, two of which focus on the energy sector. The first of its energy projects is a US$619 million commitment to Solar Homes Systems Project which aims to install solar home systems for up to five million households while serving 25 million individual Nigerians who are currently unconnected to the national grid. The second project is a ₦113 billion scheme that looks to advance the implementation of gas (CNG and LPG) in order to bridge the passage from fossil fuels to a cleaner source of energy. The plan aims to create 250,000 new jobs in the energy sector, empowering communities and stimulating the domestic manufacturing industry.&nbsp;



Thirty-seven million Micro, Small and Medium Enterprises in Nigeria contribute to 48% of the country’s GDP, the definitive confirmation of the role MSMEs play in stimulating Nigeria’s economy. With this in mind, the Economic Sustainability Plan has also incorporated a national MSME Survival Fund to provide support following the repercussions caused by the pandemic, while guaranteeing the ideal environment for independent ventures to flourish. &nbsp;



Nigeria’s response to the world’s environmental emergency combined with its drive for diversity, promotion of inclusion and commitment to poverty reduction, is both powering and empowering the nation. The Giant of Africa is taking huge strides along the path of sustainability to reach prosperity while harnessing health, opportunity and a new economic model for the world to admire.&nbsp;



<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" src="https://cms.forbesafrica.com/wp-content/uploads/2022/04/NIGERIA-2022-MPU-NEW-01-6.jpg" alt="" class="wp-image-54823" width="395" height="395" srcset="https://cms.forbesafrica.com/wp-content/uploads/2022/04/NIGERIA-2022-MPU-NEW-01-6.jpg 591w, https://cms.forbesafrica.com/wp-content/uploads/2022/04/NIGERIA-2022-MPU-NEW-01-6-300x300.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2022/04/NIGERIA-2022-MPU-NEW-01-6-150x150.jpg 150w" sizes="(max-width: 395px) 100vw, 395px" /></figure>



<a href="https://cms.forbesafrica.com/wp-content/uploads/2022/05/NIGERIA_FA_2022_56pags-v05-PRINTER_VERSION.pdf" target="_blank" rel="noreferrer noopener">Download full Supplement Here </a>



<div data-wp-interactive="core/file" class="wp-block-file"><object data-wp-bind--hidden="!state.hasPdfPreview" class="wp-block-file__embed" data="https://cms.forbesafrica.com/wp-content/uploads/2022/05/NIGERIA_FA_2022_56pags-v05-PRINTER_VERSION.pdf" type="application/pdf" style="width:100%;height:600px" aria-label="Embed of Embed of NIGERIA_FA_2022_56pags-v05-PRINTER_VERSION.."></object><a id="wp-block-file--media-13e0f576-9bff-4776-93d3-ea77b1359498" href="https://cms.forbesafrica.com/wp-content/uploads/2022/05/NIGERIA_FA_2022_56pags-v05-PRINTER_VERSION.pdf">NIGERIA_FA_2022_56pags-v05-PRINTER_VERSION</a><a href="https://cms.forbesafrica.com/wp-content/uploads/2022/05/NIGERIA_FA_2022_56pags-v05-PRINTER_VERSION.pdf" class="wp-block-file__button" download aria-describedby="wp-block-file--media-13e0f576-9bff-4776-93d3-ea77b1359498">Download</a></div>

LAGOS-nigeria

Nigeria: The Giant Of Africa’s Huge Strides Towards Sustainability 

<blockquote class="wp-block-quote is-style-large is-layout-flow wp-block-quote-is-layout-flow">“The time has come to renew the founding values of our beautiful Ivory Coast, and to reunite&nbsp;Ivorians. Let us celebrate peace, without which there can be no development.” H.E.&nbsp;Alassane&nbsp;Ouattara, President of Côte d&#8217;Ivoire&nbsp;</blockquote>



Host to UNESCO sites such as the Biosphere Reserve, the&nbsp;Comoé&nbsp;National Park, the Grand&nbsp;Bassam&nbsp;historic town, the breathtakingly beautiful Mount&nbsp;Nimba&nbsp;Strict Natural Reserve and the richly bio diverse Tai National Park, Côte d&#8217;Ivoire is a nation&nbsp;brimming with&nbsp;&nbsp;variety&nbsp;in its&nbsp;beach resorts, rainforests and quirky architectural landmarks such as La&nbsp;Pyramide&nbsp;and St. Paul’s Cathedral.&nbsp;“Côte d&#8217;Ivoire&nbsp;is a tourist and business destination,” explains&nbsp;Daniel&nbsp;Karbownik, Regional Director West &amp; Central Africa, Accor. “Developing a&nbsp;tourist&nbsp;destination creates direct and indirect jobs and promotes&nbsp;economic development and prosperity of the country.”&nbsp;With a view to this, in 2018, the government launched its ‘Sublime Côte d&#8217;Ivoire’&nbsp;flagship tourism project. Due for completion in 2025, Sublime’s initial phase looks to transform the tourism landscape via a number of projects and schemes and the creation of 700,000 new jobs aimed at its youths.&nbsp;&nbsp;



The government’s&nbsp;National Development Plan&nbsp;2021-2025&nbsp;is intent&nbsp;in maintaining a stable socio-political environment while&nbsp;mobilising its domestic resources following the&nbsp;ramifications&nbsp;of the pandemic.&nbsp;It targets the private-sector&nbsp;investment&nbsp;and construction&nbsp;needed to spur productivity, advance diversification and inclusive growth while boosting job creation, in particular regarding the nation’s youth.&nbsp;With&nbsp;solid relations with international institutions and bilateral partners,&nbsp;Côte d’Ivoire&nbsp;is committed to making its&nbsp;business environment ever more attractive and&nbsp;its economy more competitive by relaxing&nbsp;economic policies&nbsp;in a bid to&nbsp;attract foreign companies and promote business creation, especially in the digital,&nbsp;information&nbsp;and&nbsp;technology sector.&nbsp;Paul-Harry&nbsp;Aithnard,&nbsp;CEO of&nbsp;Ecobank&nbsp;Côte d’Ivoire&nbsp;says, “The private sector&nbsp;is a&nbsp;driving force because all ideas&nbsp;not only&nbsp;come from the state but also come from the private sector.&nbsp;At&nbsp;Ecobank, we believe that digitisation and the digital economy make it possible to have an inclusive economy and that&nbsp;with technology we are capable of anything today.&nbsp;Technology allows for a true inclusive economy and true inclusive development.”&nbsp;



<a href="https://cms.forbesafrica.com/wp-content/uploads/2021/11/FORBES-COTEDEIVORY_2021_32pags_vok_ONLINE.pdf" target="_blank" rel="noreferrer noopener">Download Report</a>



<figure class="wp-block-image size-full"><a href="https://cms.forbesafrica.com/wp-content/uploads/2021/11/FORBES-COTEDEIVORY_2021_32pags_vok_ONLINE.pdf" target="_blank" rel="noopener"><img loading="lazy" decoding="async" width="591" height="591" src="https://cms.forbesafrica.com/wp-content/uploads/2021/11/CDI-MPU-NEW-01-3.jpg" alt="" class="wp-image-53332" srcset="https://cms.forbesafrica.com/wp-content/uploads/2021/11/CDI-MPU-NEW-01-3.jpg 591w, https://cms.forbesafrica.com/wp-content/uploads/2021/11/CDI-MPU-NEW-01-3-300x300.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2021/11/CDI-MPU-NEW-01-3-150x150.jpg 150w" sizes="(max-width: 591px) 100vw, 591px" /></a></figure>



Another important driver to the nation’s development,&nbsp;and indeed its economic backbone,&nbsp;is its natural resources,&nbsp;such as fossil fuels and ores and agriculture. The government has&nbsp;expanded its vision&nbsp;to the&nbsp;encompass the&nbsp;enormous&nbsp;potential&nbsp;inherent in the production of&nbsp;added-value&nbsp;solutions, thereby increasing its&nbsp;manufacturing and processing industries.&nbsp;With a focus upon Green Tourism and carbon neutrality,&nbsp;Côte d&#8217;Ivoire’s government is well aware of the importance of boosting sustainability and creating supply chains.&nbsp;Over the last two decades, the world’s largest cocoa bean producer and exporter, has&nbsp;expanded its range to the cultivation of cashew nuts with impressive results.&nbsp;As part of the government’s National Development Plan, the nation is now&nbsp;looking&nbsp;to process its crops&nbsp;so as&nbsp;to harness a new source of income&nbsp;and promote the&nbsp;‘Made in Côte d’Ivoire’&nbsp;label. “We have great agricultural potential in the country.” declares&nbsp;&nbsp;Issiaka&nbsp;Savane, Interim Administrator of UNACOOPEC-CI. “If we want&nbsp;a&nbsp;dynamic and strong growth, we must participate&nbsp;in the transformation of agricultural products.”&nbsp;



In 2014, the Ivorian government&nbsp;also&nbsp;implemented one of the most favourable mining codes on the continent, which introduced greater transparency, the extension of exploration permits to ten years, strengthened local development and enhanced mining investment, particularly in the gold sector. As a result, mining activities increased 43% in 2019, generating a revenue of US$1.3 billion and creating almost 55,000 jobs. To this effect, training the local workforce is critical to the continued growth of the mining sector.&nbsp;Abdoulaye&nbsp;Diallo, General Manager of SFTP Mining, is proud to be a part of this initiative that improves the lives of&nbsp;Ivorians.&nbsp;Diallo&nbsp;says, “SFTP mining operations are sustainable and provide a position between the communities and the stakeholders. We train the local community in order to have international standards skills.”&nbsp;



True confirmation of&nbsp;Côte d&#8217;Ivoire’s stable outlook and the promise of its strong economic development occurred when&nbsp;Fitch&nbsp;assigned&nbsp;Côte d&#8217;Ivoire with a&nbsp;BB rating&nbsp;in July 2021, forecasting&nbsp;GDP growth to average 6.2% in 2021-2022.&nbsp;Léonce&nbsp;Yace, Managing Director of NSIA&nbsp;Banque&nbsp;CI, believes the nation’s multiple achievements is due to a number of factors. “Côte d&#8217;Ivoire&nbsp;has&nbsp;a dynamic economic fabric, players, opportunities, well-trained young people and booming banking sector. The&nbsp;government&nbsp;is&nbsp;made up of experts and competent people who understand the issues well and who manage to take the initiatives that drive development under the leadership of His Excellency President&nbsp;Alassane&nbsp;Ouattara.&nbsp;Investors&nbsp;who come to Côte d’Ivoire&nbsp;will find a business hub where their&nbsp;interests&nbsp;will be&nbsp;preserved.”&nbsp;&nbsp;



A gateway to West Africa,&nbsp;Côte d’Ivoire is well positioned as a hub for international trade&nbsp;and a story of success as one of Africa’s most resilient economies promoting inclusive and sustainable growth within a peaceful environment. As&nbsp;Côte d’Ivoire’s record results guarantee its trajectory towards economic recovery, the nation is also firmly moving forward towards a new era of growth, opportunity and a bright and shining future.&nbsp;&nbsp;

Author: Penresa

FORBES AFRICA SOCIAL MEDIA