Africa is positioned to be the world’s next industrial centre. With low labour cost, a growing skilled labour force and a large consuming population; we are positive that Africa will be more attractive than South East Asia in attracting global manufacturers to establish their base in Africa.
We expect that subsectors like automobile, solar energy, textile, pharmaceutical and FMCGs will attract investments in the coming years.
In 2018, we saw Volkswagen launch its assembly plant in Kigali, Rwanda; and in 2020 Volkswagen will be launching a second assembly plant in Accra, Ghana. We expect this trend to continue with other automobile companies while other industries follow suit.
We strongly believe Africa’s manufacturing clusters will grow to meet local demand and export to the rest of the world.