Where Africa’s richest man sees investment opportunity
Africa has gotten a bad rap for corruption, but there is, in fact, a lot of investment opportunity on the continent, Africa’s richest man told CNBC’s “Power Lunch” this week.
“Almost every single country is looking at Africa, because things are happening,” said Aliko Dangote, chairman and CEO of Dangote Group. “The return on investment is averaging at about 30% and that’s why people are really making quite a lot of money.”
General Electric, for example, has invested more in the first quarter of 2014 that it did in all of 2011, he pointed out.
With a growing population, infrastructure is one area ripe with opportunity. Mining is another, he said.
Read the full article here: http://www.cp-africa.com/2014/05/01/cnbc-africas-richest-man-sees-investment-opportunity/