Huffington Post contributor, Mark Steve, took notice on an article written by Principal, Amne Suedi that was posted on the USAHerald website. It is a topic of discussion among foreign investors. This topic of China beating out all other countries in investing in Africa.
Africa has made big strides in its economy and China took notice. China is making huge headway in it’s stance of being top country to invest in African territories.
Africa is now getting the attention from big player’s. Africa’s economy was once thought of as a not so great investment. China has it’s foot in the door of Africa and is stepping up the pace. Westerners are now taking notice and want a piece of the pie.
Complacency seems to be a reason westerners have lost sight of Africa. The west will find it’s path to be trying at times but need to push through to catch up to China. The west has only done little to expand into emerging markets, Africa being one of them.
The US and Europe has usually been the top economic powerhouses. Now, China is certainly top dog in the African market. This will also help China achieve greater influence around the world.
In Eastern Africa, Tanzania is coming in at second for having the largest market for construction. Ethiopia is the first market for construction. Tanzania’s construction platform is made up of multitudinous regulations and stakeholders.
Investors, with their own foreign financial services and/or banks, are coming for these opportunities in Tanzania. Proposing projects with these funds along with the help of donor aid or multilateral financial assistance. These companies are able to choose architects, contractors and engineers for their needs while also complying with the the many registration entities and legislation. Each company with each project has to be registered in Tanzania; this is a pre-requisite. It is typical for foreign companies to partner up with local companies. In doing so, the process for registration seems to be smoother and less time consuming, we have seen.