COMESA investment summit: Africa is ‘the new China’

The African continent has become the world’s second most attractive investment destination. According to the World Bank, foreign investment is hitting a record $60 billion. Numbers like these have earned Africa the nickname of ‘the new China’.

According to Rwanda Eye, the investment opportunities on the continent are on the agenda of the first Global African Investment Summit of the Common Market for Eastern and Southern Africa (COMESA). Rwanda is hosting the summit where African heads of states, government ministers and senior officials, chief executive officers gather with private sector delegates to discuss project opportunities and deploy investment.

Another key issue on the agenda is the arrangement of the Common Market for Eastern and Southern Africa (COMESA), East African Community (EAC) and Southern Africa Development Community (SADC) that was launched last year. Creating this huge African single market, with 26 countries, a combined GDP nearing $1.2 trillion, and a market of close to 620 million consumers, will boost intra- African trade.

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