Sub-Saharan Africa is alive with change and what once may have been dismissed as disorganised and muddled economies now evokes confidence and buoyancy as it moves into a new era of growth for the continent.
Economists, fund managers and analysts alike are stimulating huge volumes of capital investment in the region and the metrics are stacking up. Figures show that the resource rich lands are in a notable period of growth through mining, oil development, telecommunications, banking and the retail markets.
On a recent visit to Ghana, we observed that the Movenpick Hotel in Accra could rival any 5 star hotels you could find in London. It is one of many ideal locations providing a top class business service and is perfectly suited for promoting exports for goods and services. Ghana, Nigeria, Zimbabwe, Tanzania, Sierra Leone and a host of other countries in the region have impressive forecasts from banks and institutions suggesting 5-6% growth expansion over the next decade. Sierra Leone’s new iron ore projects estimates a growth rate of 21% in 2012; similar stories continue to gallop across the continent generating circumspect interest and direct action from foreign investors.
There are however many challenges that still remain in these states. Long term questions of governance, stability, poverty and political risk all need some measure of attention. Growth and stability are the most attractive proposition for the overseas investor. Growth alone may not necessarily provide the driver for stability. The political will for serious change and actions to address wealth distribution and poverty will only send further encouraging signals.
However, it is hard not to be bullish when the outlook appears so progressive and Eurobase Banking Solutions are eager to participate in the growing banking technology market in the region. It is clear that treasury management teams have new processes to define and new instruments to trade. Consequently there are new regulatory initiatives and internal work flow structures to manage. In this field Eurobase Banking Solutions are well placed to offer this guidance in treasury technology.
We continue to work collaboratively with banks across Africa in the drive to automate and manage the ever growing trading and treasury management requirements. Africa’s time is now and we intend to support its progress.