Investing in Africa: Who benefits?
Business Daily
BBC
4.4 • 796 Ratings
🗓️ 7 July 2023
⏱️ 18 minutes
🧾️ Download transcript
Summary
How are loans and grants distributed? And how high are the returns?
According to the IMF, Africa’s growth prospect will be amongst the highest in the world and sectors such as fintech and telecoms are the drivers of the current economic growth, offering huge investment opportunities for foreign businesses.
Peter MacJob speaks to Faith Adesemowo, CEO of Social Lender, a company which helps individuals build credit ratings through their social status.
Presenter: Peter MacJob Productions: Peter MacJob and Barbara George Image: Social Lender / Credit: Social Lender
Transcript
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| 0:00.0 | Who is the greatest African Premier League player of all time? |
| 0:04.2 | See if your choice made our list on Match of the Day Africa Top 10, |
| 0:08.2 | a new podcast from the BBC World Service. |
| 0:10.7 | Find it wherever you get your BBC podcast. |
| 0:15.7 | Hello, I'm Peter McJubb. |
| 0:17.6 | Welcome to Business Daily on the BBC World Service. |
| 0:22.6 | Throughout this week, we have been looking at foreign investment in Africa from a macroeconomics perspective. Today, we are |
| 0:29.0 | narrowing it down to the specifics. How important is foreign direct investment in building local |
| 0:35.6 | businesses? Let me put it this way. Without investment |
| 0:38.2 | would be dead. Investment is the lifeblood of a business as far as I'm concerned. |
| 0:44.4 | And how beneficial is it for foreign investors who put their money in the continent? |
| 0:50.7 | They think it's going to be possible in the future to extract large capital gains |
| 0:55.5 | from those investments. There is a lot of money in Africa. |
| 1:03.4 | According to the IMF, Africa's growth prospect will be among the highest in the world, and |
| 1:09.2 | sectors such as fintech, telecoms and infrastructure |
| 1:12.1 | are the drivers of the current economic growth, offering huge investment opportunities for foreign |
| 1:18.1 | businesses. |
| 1:19.3 | One of such fintech companies is social lender. |
| 1:23.2 | Faith, Editha, Mawar, is the co-founder. |
| 1:26.3 | What we've done as social lender is basically to rethink how the world sees people |
| 1:30.9 | and be able to use that very thought process to be able to give them access to formal financial services. |
| 1:37.8 | So social lender was born from an age-old idea over 100 years old in Africa |
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