Original upload date: Mon, 01 Aug 2016 00:00:00 GMT
Archive date: Thu, 02 Dec 2021 22:58:29 GMT
Brian Menell, Founder and CEO of Kemet Group, continues this discussion surrounding the importance of foreign investment in Africa, primarily related to China’s involvement in the continent. He talks
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about the learning curve and the flexibility with which China evolves and transforms it approach to investing in African economies. His experience with the investment of mineral resource extraction and mining provides Brian Menell with an understanding of the importance of pragmatism when investing in countries within Africa.
He discusses the growing interest in Africa from nations such as Russia, Brazil and India, but Menell suggests that the investments from these countries is still relatively limited and not relevant on a continent wide scale. As such, when discussing overseas investment it boils down to Chinese and Western engagement.
Menell goes on to say that it will not be difficult for China to compete with Western interests as they will be able to deliver infrastructure quicker and at a lower cost than any other nation. Brian Menell discusses a Chinese appetite ‘for strategic metals and minerals, and oil and gas’, highlighting the way in which this creates a flow of funds whilst also creating co-investment and exit opportunities for Western interests. He states that a lot of Chinese investors recognise the value of Western knowledge and expertise in the region, as such it should be seen as opportunity for co-operation as opposed to competition.
African governments are wary of Chinese dominance, and whilst they welcome Chinese investment, there is a desire for engagement to be balanced across multiple parties.