Africa – and especially South Africa – is a vital destination for investment from European countries, according to presentations at the 11th “TEHA CEO Dialogue on Southern Africa”.
The European House Ambrosetti (TEHA) Africa CEO Pietro Mininni says: “We keep saying, and we believe, that South Africa is the economic hub of the continent, and its best investment destination. We believe so. We want to be in this fantastic country and region forever.”
Valerio de Molli, CEO and managing partner of TEHA points out that the Global Attractiveness Index (GAI) Africa shows South Africa is the top destination for investment, up from second place last year.
The Index, first launched in 2013, is designed to assess economic attractiveness in Africa. It is scientific, leveraging a unique repository with 10-million data points to rank 55 Africa countries. Its methodology, inspired by the Global Attractiveness Index which is audited by the Joint Research Centre (JRC), combines forward- and backward-looking analysis.
Since the TEHA CEO Dialogue began in 2014, Italy’s FDI SADC countries and towards South Africa more than tripled, with South Africa’s share accounting for two thirds of the current €2,2-billion, De Molli says. “Development initiatives and cooperation agreements will further strengthen the trade and investment relations between Africa, Europe and Italy.”
The Summit has become the landmark annual event for global, international and South African public and private stakeholders, with the aim of strengthening strategic relationships, fostering in-depth interaction among peers and Government officials as well as promoting joint growth and investment opportunities.
The event was organised by the global think tank in collaboration with the Gauteng Province, Gauteng Growth and Development Agency and a selection of international public and private stakeholders, including Bill & Melinda Gates Foundation, DHL, Inalca, Musina-Makhado Special Economic Zone, BofA Securities, Italian Agency for Development Cooperation, Italian Trade Agency, Turkish Airlines, Italtile, Brand South Africa.
Gauteng Premier Panyaza Lesufi says that the EU, among South Africa’s largest trading partners, is a great source of funding and had created some 16 500 jobs in Gauteng already, with almost R4-trillion in trade between the two regions since 2018.