The latest Global Economy Watch report from accountants Price Waterhouse Cooper includes Addis Ababa, the capital of Ethiopia, in the top 10 cities identified as new investment opportunity hotspots in Africa.
It suggests the places to watch most closely will be Addis Ababa in Ethiopia, Ibadan and Kano in Nigeria, Ouagadougou in Burkina Faso, Dakar in Senegal, Nairobi in Kenya, Abidjan in Cote d'Ivoire, Khartoum in Sudan, Luanda in Angola and Dar es Salaam in Tanzania.
According to the report cities projected to almost double in size in the next two decades are where the real opportunities for investment lie.
It says, "Cities are the typical entry points for businesses trying to expand in new overseas markets. This is because they enable closer interaction with customers in a relatively small geographic space, which in turn helps contain distribution costs."
It suggests the need to sustain the momentum of infrastructure development, adding that "Infrastructure development is a key driver for progress across Africa and a critical enabler for sustainable and socially inclusive growth."
- Ministry of Foreign Affairs