Transcript: African market insights
Download alternative video format (MOV, 9.4MB)
Well Africa’s really -- has many opportunities and it’s really driven by, you know, demographics, so a lot of people.
Potential of resources - Africa has 30% of the world’s untapped natural resources and potential around agriculture. Africa is a potential food bowl of the world with over 45% of the world’s arable unfarmed land and down tracts of East Africa, huge amounts of land and water.
So if Africa can take advantage of these natural assets of people, land, water, it can do very well in the future but it needs everything around developing those, whether it’s skills, technology, services, infrastructure or people.
Africa is a diverse continent of over 54 countries, hundreds of tribes and thousands of languages. So diversity is the major challenge that you find in Africa.
Africa is a developing market in general so they are in need of all the things that developing countries require. It’s deficient in all sorts of infrastructure and it’s really in need of skills and education so that people can help develop their countries.
Some of the challenges are really lack of information on which to make business decisions, lack of infrastructure, so that’s road, rail, ports, telecommunications, electricity. You can find these challenges that don’t exist in other places, and finding the available skills that you need to do business.
Austrade has four sites of operation in Africa - in Johannesburg in South Africa, in Accra in Ghana, in Nairobi in Kenya, and in Mauritius. We have eight local business development staff who are available to help Australian companies.
The badge of government is also a major influence... influencer in Africa and our Austrade staff use that to make the right connections, whether in business or government to assist Australian companies.
[END RECORDING / END TRANSCRIPT]