NEWS

 

'SA may lose out in Africa'

Public enterprises Minister Malusi Gigaba said SA should work with Chinese and Indian investors expanding into Africa or risk losing out on opportunities on the continent, the Business Day reported on Friday.

South Africa's investment in Africa is far behind the estimated $3 billion that Chinese and Indian companies poured in last year.

"If we let [China and India] enter Africa on their own... We may find it is not only our minerals that are dominated by foreigners, but also our infrastructure," Gigaba said at a meeting with the SA Chamber of Commerce and Industry held in Johannesburg.

Africa's economy is likely to grow by 5 percent this year, says the 2011 Economic Report on Africa, produced by the United Nations Economic Commission for Africa and African Union.

 

Source: http://business.iafrica.com

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