WHERE TO INVEST IN AFRICA 2024
Posted on : Tuesday, 12th December 2023
Amidst the global highs and lows, Africa emerges as a beacon of opportunity, inviting investors to explore a wealth of potential in the coming year.
Renowned Kenyan businessman and financial expert, Nazir Jinnah, shares insights on key areas ripe for investment, highlighting the continent's untapped potential.
Jinnah emphasizes the growing momentum in Africa's embrace of sustainable practices, particularly in renewable energy projects.
With solar and wind initiatives gaining traction, he points to a financially sound opportunity for investors seeking long-term growth.
"Investing in renewable energy isn't just about financial returns; it's about powering a sustainable future for Africa. The continent's shift to clean energy is not just a choice; it's a necessity for long-term growth," Nazir Jinnah says.
In Kenya, where over 80 percent of electricity comes from renewable sources, Jinnah notes the country's ambitious goal of transitioning to 100 percent clean energy by 2030, presenting an enticing prospect for those keen on sustainable investments.
President William Ruto, who is pushing Kenya to become a green powerhouse, has since said the country will stop using fossil fuel by 2030.
"We have slowed down any investments in fossil fuels in Kenya. We do not have any fossil fuel resources at the moment. All we have is fuel imported from everywhere else," he said.
"But we are now starting a huge e-mobility program to make sure that we change all our transport that uses renewable energy. It is my commitment that by 2030 Kenya will be one hundred percent green."
The President was speaking to CNN's Becky Anderson on December 5 when he maintained that Africa has the potential to lead the world in transitioning to the use of renewable energy.
Technology: Riding the Digital Wave
Fueled by a youthful population, Africa is experiencing a digital revolution, making the tech sector a goldmine for investors.
From mobile technology to e-commerce, startups addressing local challenges are on the rise.
Jinnah suggests that the tech sector offers a diverse array of investment opportunities, uniting innovation with practical solutions.
"Africa's tech scene is more than just a trend; it's a seismic shift driven by a dynamic youth population. Investing in technology here isn't just about making money; it's about being part of a transformative journey that shapes the continent's future," Jinnah said.
Agriculture: Harvesting Potential
With a booming population, Jinnah further underscores agriculture as a fundamental investment area.
Agribusiness ventures integrating technological advancements not only promise financial returns but also contribute significantly to food security.
The agriculture sector, according to Jinnah, stands as a fertile ground for exploration and potential growth.
Healthcare: Building Resilience
Recent global events highlight the vital role of robust healthcare systems.
Jinnah observes a surge in investments in healthcare infrastructure, pharmaceuticals, and telemedicine services.
Companies prioritizing accessibility and affordability in healthcare are poised for substantial growth.
Education Technology: Shaping Minds, Shaping Futures
The persistent demand for quality education creates opportunities in educational technology, vocational training, and initiatives promoting access to education.
Jinnah encourages investors to explore the education sector, emphasizing that aligning financial success with positive societal change is not only wise but impactful.
As Africa evolves, Jinnah believes that strategic and informed investments hold the key to shaping the continent's economic trajectory in 2024 and beyond.
For global investors seeking untapped potential, Africa awaits as a dynamic and promising destination for growth, he said.
