THERE is more to the African economy than commodities and the oil and gas sectors, as Africa's emerging consumers are driving a surge of capital inflows to the continent. Clifford Sacks, the Africa CEO of Renaissance Funds, who disclosed this noted that there was more to Nigeria than oil.
Sacks said the nature of capital inflows and foreign direct investment (FDI) into the continent was evolving fast, from a pure commodities play to funds seeking exposure to growing consumer-facing sectors such as the fast-moving consumer goods sector. Linked to that were the consumer finance industry and property sectors.
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