Energy Industry, Once Considered Risky, Is Now Africa’s Most Promising Sector for Investors
Energy, financial services and transport are the most promising sectors in Africa during the 2016-2020 period.
This is according to a study conducted by the Paris-based consulting firm, Havas Horizon.
The report titled “Financing African growth by 2020: Perception of international investors’’, indicates that the energy sector is the most promising on the continent.
The energy industry, once considered as risky, has been perceived as the most promising because investors believe in the ability of the continent to become a world reference for renewable energy.
The survey said that international investors are also optimistic about the African economic prospects in the short and medium term.
The top five African nations with highest energy potential include Nigeria which ranks first followed by Ivory Coast. Kenya and Morocco tie in the third position while South Africa closes the ranking with an 11% potentiality.
The same report also notes that the most attractive African countries for international investors are Ethiopia, Nigeria, Morocco, Ghana and Senegal respectively.